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A treatise on Web 2.0 with a case study from the financial markets

By Martin D. Sykora


A Doctoral Thesis. Submitted in partial fulfilment of the requirements for the award of Doctor of Philosophy of Loughborough University.There has been much hype in vocational and academic circles surrounding the emergence of\ud web 2.0 or social media; however, relatively little work was dedicated to substantiating the\ud actual concept of web 2.0. Many have dismissed it as not deserving of this new title, since the\ud term web 2.0 assumes a certain interpretation of web history, including enough progress in\ud certain direction to trigger a succession [i.e. web 1.0 → web 2.0]. Others provided arguments in\ud support of this development, and there has been a considerable amount of enthusiasm in the\ud literature. Much research has been busy evaluating current use of web 2.0, and analysis of the\ud user generated content, but an objective and thorough assessment of what web 2.0 really stands\ud for has been to a large extent overlooked. More recently the idea of collective intelligence\ud facilitated via web 2.0, and its potential applications have raised interest with researchers, yet a\ud more unified approach and work in the area of collective intelligence is needed.\ud This thesis identifies and critically evaluates a wider context for the web 2.0 environment, and\ud what caused it to emerge; providing a rich literature review on the topic, a review of existing\ud taxonomies, a quantitative and qualitative evaluation of the concept itself, an investigation of\ud the collective intelligence potential that emerges from application usage. Finally, a framework\ud for harnessing collective intelligence in a more systematic manner is proposed.\ud In addition to the presented results, novel methodologies are also introduced throughout this\ud work. In order to provide interesting insight but also to illustrate analysis, a case study of the\ud recent financial crisis is considered. Some interesting results relating to the crisis are revealed\ud within user generated content data, and relevant issues are discussed where appropriate

Topics: Web 2.0, Social media, Collective intelligence, Mass collaboration, Information retrieval, Web-mining, Text-mining, Sentiment-analysis, Financial markets, Financial crisis, Collaborative systems
Publisher: © Martin Sykora
Year: 2012
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