IDEAS home Printed from https://ideas.repec.org/a/eee/tefoso/v156y2020ics0040162519321043.html
   My bibliography  Save this article

Identification of time-evolving product opportunities via social media mining

Author

Listed:
  • Choi, Jaewoong
  • Oh, Seunghyun
  • Yoon, Janghyeok
  • Lee, Jae-Min
  • Coh, Byoung-Youl

Abstract

This study suggests a social media mining approach for identifying time-evolving product opportunities for product improvement, customer complaint management, and competitive intelligence via event detection and tracking (EDT) and sentiment analysis. This approach applies an aging theory-based EDT algorithm to online product reviews to detect the creation of customer-stated events as groups of similar reviews and track their growth and extinction. Next, the approach uses sentiment analysis and an opportunity algorithm to evaluate time-evolving events and provides quantified clues regarding product-development directions based on events with high opportunity. To show the workings of the proposed approach, a case study involving smart speakers is presented. We expect that the approach will contribute to identifying time-evolving product opportunities from large-scale social-media data in addition to enabling the real-time monitoring of customer needs in rapidly evolving product environments.

Suggested Citation

  • Choi, Jaewoong & Oh, Seunghyun & Yoon, Janghyeok & Lee, Jae-Min & Coh, Byoung-Youl, 2020. "Identification of time-evolving product opportunities via social media mining," Technological Forecasting and Social Change, Elsevier, vol. 156(C).
    • Handle: RePEc:eee:tefoso:v:156:y:2020:i:c:s0040162519321043
    DOI: 10.1016/j.techfore.2020.120045
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0040162519321043
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.techfore.2020.120045?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Bomi Song & Changyong Lee & Byungun Yoon & Yongtae Park, 2016. "Diagnosing service quality using customer reviews: an index approach based on sentiment and gap analyses," Service Business, Springer;Pan-Pacific Business Association, vol. 10(4), pages 775-798, December.
    2. Juram Kim & Changyong Lee, 2017. "Stochastic service life cycle analysis using customer reviews," The Service Industries Journal, Taylor & Francis Journals, vol. 37(5-6), pages 296-316, April.
    3. Trainor, Kevin J. & Andzulis, James (Mick) & Rapp, Adam & Agnihotri, Raj, 2014. "Social media technology usage and customer relationship performance: A capabilities-based examination of social CRM," Journal of Business Research, Elsevier, vol. 67(6), pages 1201-1208.
    4. Hyunseok Park & Janghyeok Yoon, 2015. "A chance discovery-based approach for new product–service system (PSS) concepts," Service Business, Springer;Pan-Pacific Business Association, vol. 9(1), pages 115-135, March.
    5. Bashir, Naheed & Papamichail, K.Nadia & Malik, Khaleel, 2017. "Use of Social Media Applications for Supporting New Product Development Processes in Multinational Corporations," Technological Forecasting and Social Change, Elsevier, vol. 120(C), pages 176-183.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Chang, Yaping & Gao, Yajie & Zhu, Donghong & Safeer, Asif Ali, 2023. "Social robots: Partner or intruder in the home? The roles of self-construal, social support, and relationship intrusion in consumer preference," Technological Forecasting and Social Change, Elsevier, vol. 197(C).
    2. Chatterjee, Sheshadri & Chaudhuri, Ranjan & Thrassou, Alkis & Vrontis, Demetris, 2022. "Social network games (SNGs) addiction: Psychological dimensions and impacts on life quality and society," Technological Forecasting and Social Change, Elsevier, vol. 177(C).
    3. Fredström, Ashkan & Parida, Vinit & Wincent, Joakim & Sjödin, David & Oghazi, Pejvak, 2022. "What is the Market Value of Artificial Intelligence and Machine Learning? The Role of Innovativeness and Collaboration for Performance," Technological Forecasting and Social Change, Elsevier, vol. 180(C).
    4. Eachempati, Prajwal & Srivastava, Praveen Ranjan & Kumar, Ajay & Muñoz de Prat, Javier & Delen, Dursun, 2022. "Can customer sentiment impact firm value? An integrated text mining approach," Technological Forecasting and Social Change, Elsevier, vol. 174(C).
    5. Rakshit, Sandip & Mondal, Sandeep & Islam, Nazrul & Jasimuddin, Sajjad & Zhang, Zuopeng, 2021. "Social media and the new product development during COVID-19: An integrated model for SMEs," Technological Forecasting and Social Change, Elsevier, vol. 170(C).
    6. Apostolidis, Chrysostomos & Devine, Anthony & Jabbar, Abdul, 2022. "From chalk to clicks – The impact of (rapid) technology adoption on employee emotions in the higher education sector," Technological Forecasting and Social Change, Elsevier, vol. 182(C).

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Cheng, Colin C.J. & Shiu, Eric C., 2020. "What makes social media-based supplier network involvement more effective for new product performance? The role of network structure," Journal of Business Research, Elsevier, vol. 118(C), pages 299-310.
    2. Zhang, Feng & Zhu, Lei, 2021. "Social media strategic capability, organizational unlearning, and disruptive innovation of SMEs: The moderating roles of TMT heterogeneity and environmental dynamism," Journal of Business Research, Elsevier, vol. 133(C), pages 183-193.
    3. Bullini Orlandi, Ludovico & Zardini, Alessandro & Rossignoli, Cecilia, 2020. "Organizational technological opportunism and social media: The deployment of social media analytics to sense and respond to technological discontinuities," Journal of Business Research, Elsevier, vol. 112(C), pages 385-395.
    4. Dominik M. Wielgos & Christian Homburg & Christina Kuehnl, 2021. "Digital business capability: its impact on firm and customer performance," Journal of the Academy of Marketing Science, Springer, vol. 49(4), pages 762-789, July.
    5. Anita Ciunova-Shuleska & Christian Nedu Osakwe & Nikolina Palamidovska-Sterjadovska, 2016. "Complementary impact of capabilities and brand orientation on SMBs performance," Journal of Business Economics and Management, Taylor & Francis Journals, vol. 17(6), pages 1270-1285, November.
    6. Yuan, Chun Lin & Kim, Juran & Kim, Sang Jin, 2016. "Parasocial relationship effects on customer equity in the social media context," Journal of Business Research, Elsevier, vol. 69(9), pages 3795-3803.
    7. Marcel Rosenberger & Christiane Lehrer & Reinhard Jung, 0. "Integrating data from user activities of social networks into public administrations," Information Systems Frontiers, Springer, vol. 0, pages 1-14.
    8. Sikandar Ali Qalati & Dragana Ostic & Gu Shuibin & Fan Mingyue, 2022. "A mediated–moderated model for social media adoption and small and medium‐sized enterprise performance in emerging countries," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 43(3), pages 846-861, April.
    9. Jiacong Wu & Yu Wang & Ru Zhang & Jing Cai, 2018. "An Approach to Discovering Product/Service Improvement Priorities: Using Dynamic Importance-Performance Analysis," Sustainability, MDPI, vol. 10(10), pages 1-26, October.
    10. Adomako, Samuel & Amankwah-Amoah, Joseph & Donbesuur, Francis & Ahsan, Mujtaba & Danso, Albert & Uddin, Moshfique, 2022. "Strategic agility of SMEs in emerging economies: Antecedents, consequences and boundary conditions," International Business Review, Elsevier, vol. 31(6).
    11. Shan, Wei & Qiao, Tong & Zhang, Mingli, 2020. "Getting more resources for better performance: The effect of user-owned resources on the value of user-generated content," Technological Forecasting and Social Change, Elsevier, vol. 161(C).
    12. Witek-Hajduk Marzanna K. & Zaborek Piotr, 2022. "Social media use in international marketing: Impact on brand and firm performance," International Journal of Management and Economics, Warsaw School of Economics, Collegium of World Economy, vol. 58(2), pages 121-142, June.
    13. Perez-Vega, Rodrigo & Hopkinson, Paul & Singhal, Aishwarya & Mariani, Marcello M., 2022. "From CRM to social CRM: A bibliometric review and research agenda for consumer research," Journal of Business Research, Elsevier, vol. 151(C), pages 1-16.
    14. Tuleu Daniela, 2015. "Antecedents Of Customer Relationship Management Capabilities," Annals of Faculty of Economics, University of Oradea, Faculty of Economics, vol. 1(1), pages 1285-1294, July.
    15. Brewis, Claire & Dibb, Sally & Meadows, Maureen, 2023. "Leveraging big data for strategic marketing: A dynamic capabilities model for incumbent firms," Technological Forecasting and Social Change, Elsevier, vol. 190(C).
    16. Marjeta Marolt & Hans-Dieter Zimmermann & Andreja Pucihar, 2022. "Social Media Use and Business Performance in SMEs: The Mediating Roles of Relational Social Commerce Capability and Competitive Advantage," Sustainability, MDPI, vol. 14(22), pages 1-14, November.
    17. Moro, Sérgio & Rita, Paulo & Vala, Bernardo, 2016. "Predicting social media performance metrics and evaluation of the impact on brand building: A data mining approach," Journal of Business Research, Elsevier, vol. 69(9), pages 3341-3351.
    18. Adamantia Pateli & Naoum Mylonas & Aggeliki Spyrou, 2020. "Organizational Adoption of Social Media in the Hospitality Industry: An Integrated Approach Based on DIT and TOE Frameworks," Sustainability, MDPI, vol. 12(17), pages 1-20, September.
    19. Ho, Mia Hsiao-Wen & Chung, Henry F.L., 2020. "Customer engagement, customer equity and repurchase intention in mobile apps," Journal of Business Research, Elsevier, vol. 121(C), pages 13-21.
    20. Lijuan Bai & Xiangbin Yan, 2023. "Impact of social media capability on firm performance: new evidence from China," Asian Business & Management, Palgrave Macmillan, vol. 22(1), pages 118-136, February.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:tefoso:v:156:y:2020:i:c:s0040162519321043. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.sciencedirect.com/science/journal/00401625 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.