Econometrics meets sentiment : an overview of methodology and applications

The advent of massive amounts of textual, audio, and visual data has spurred the development of econometric methodology to transform qualitative sentiment data into quantitative sentiment variables, and to use those variables in an econometric analysis of the relationships between sentiment and other variables. We survey this emerging research field and refer to it as sentometrics, which is a portmanteau of sentiment and econometrics. We provide a synthesis of the relevant methodological approaches, illustrate with empirical results, and discuss useful software

Big data analytics:Computational intelligence techniques and application areas

Big Data has significant impact in developing functional smart cities and supporting modern societies. In this paper, we investigate the importance of Big Data in modern life and economy, and discuss challenges arising from Big Data utilization. Different computational intelligence techniques have been considered as tools for Big Data analytics. We also explore the powerful combination of Big Data and Computational Intelligence (CI) and identify a number of areas, where novel applications in real world smart city problems can be developed by utilizing these powerful tools and techniques. We present a case study for intelligent transportation in the context of a smart city, and a novel data modelling methodology based on a biologically inspired universal generative modelling approach called Hierarchical Spatial-Temporal State Machine (HSTSM). We further discuss various implications of policy, protection, valuation and commercialization related to Big Data, its applications and deployment

Three Essays on Opinion Mining of Social Media Texts

This dissertation research is a collection of three essays on opinion mining of social media texts. I explore different theoretical and methodological perspectives in this inquiry. The first essay focuses on improving lexicon-based sentiment classification. I propose a method to automatically generate a sentiment lexicon that incorporates knowledge from both the language domain and the content domain. This method learns word associations from a large unannotated corpus. These associations are used to identify new sentiment words. Using a Twitter data set containing 743,069 tweets related to the stock market, I show that the sentiment lexicons generated using the proposed method significantly outperforms existing sentiment lexicons in sentiment classification. As sentiment analysis is being applied to different types of documents to solve different problems, the proposed method provides a useful tool to improve sentiment classification. The second essay focuses on improving supervised sentiment classification. In previous work on sentiment classification, a document was typically represented as a collection of single words. This method of feature representation suffers from severe ambiguity, especially in classifying short texts, such as microblog messages. I propose the use of dependency features in sentiment classification. A dependency describes the relationship between a pair of words even when they are distant. I compare the sentiment classification performance of dependency features with a few commonly used features in different experiment settings. The results show that dependency features significantly outperform existing feature representations. In the third essay, I examine the relationship between social media sentiment and stock returns. This is the first study to test the bidirectional effects in this relationship. Based on theories in behavioral finance research, I speculate that social media sentiment does not predict stock return, but rather that stock return predicts social media sentiment. I empirically test a set of research hypotheses by applying the vector autoregression (VAR) model on a social media data set, which is much larger than those used in previous studies. The hypotheses are supported by the results. The findings have significant implications for both theory and practice

SentiBench - a benchmark comparison of state-of-the-practice sentiment analysis methods

In the last few years thousands of scientific papers have investigated sentiment analysis, several startups that measure opinions on real data have emerged and a number of innovative products related to this theme have been developed. There are multiple methods for measuring sentiments, including lexical-based and supervised machine learning methods. Despite the vast interest on the theme and wide popularity of some methods, it is unclear which one is better for identifying the polarity (i.e., positive or negative) of a message. Accordingly, there is a strong need to conduct a thorough apple-to-apple comparison of sentiment analysis methods, \textit{as they are used in practice}, across multiple datasets originated from different data sources. Such a comparison is key for understanding the potential limitations, advantages, and disadvantages of popular methods. This article aims at filling this gap by presenting a benchmark comparison of twenty-four popular sentiment analysis methods (which we call the state-of-the-practice methods). Our evaluation is based on a benchmark of eighteen labeled datasets, covering messages posted on social networks, movie and product reviews, as well as opinions and comments in news articles. Our results highlight the extent to which the prediction performance of these methods varies considerably across datasets. Aiming at boosting the development of this research area, we open the methods' codes and datasets used in this article, deploying them in a benchmark system, which provides an open API for accessing and comparing sentence-level sentiment analysis methods

What attracts vehicle consumers’ buying:A Saaty scale-based VIKOR (SSC-VIKOR) approach from after-sales textual perspective?

Purpose: The increasingly booming e-commerce development has stimulated vehicle consumers to express individual reviews through online forum. The purpose of this paper is to probe into the vehicle consumer consumption behavior and make recommendations for potential consumers from textual comments viewpoint. Design/methodology/approach: A big data analytic-based approach is designed to discover vehicle consumer consumption behavior from online perspective. To reduce subjectivity of expert-based approaches, a parallel Naïve Bayes approach is designed to analyze the sentiment analysis, and the Saaty scale-based (SSC) scoring rule is employed to obtain specific sentimental value of attribute class, contributing to the multi-grade sentiment classification. To achieve the intelligent recommendation for potential vehicle customers, a novel SSC-VIKOR approach is developed to prioritize vehicle brand candidates from a big data analytical viewpoint. Findings: The big data analytics argue that “cost-effectiveness” characteristic is the most important factor that vehicle consumers care, and the data mining results enable automakers to better understand consumer consumption behavior. Research limitations/implications: The case study illustrates the effectiveness of the integrated method, contributing to much more precise operations management on marketing strategy, quality improvement and intelligent recommendation. Originality/value: Researches of consumer consumption behavior are usually based on survey-based methods, and mostly previous studies about comments analysis focus on binary analysis. The hybrid SSC-VIKOR approach is developed to fill the gap from the big data perspective

Sentiment analytics: Lexicons construction and analysis

With the increasing amount of text data, sentiment analysis (SA) is becoming more and more important. An automated approach is needed to parse the online reviews and comments, and analyze their sentiments. Since lexicon is the most important component in SA, enhancing the quality of lexicons will improve the efficiency and accuracy of sentiment analysis. In this research, the effect of coupling a general lexicon with a specialized lexicon (for a specific domain) and its impact on sentiment analysis was presented. Two special domains and one general domain were studied. The two special domains are the petroleum domain and the biology domain. The general domain is the social network domain. The specialized lexicon for the petroleum domain was created as part of this research. The results, as expected, show that coupling a general lexicon with a specialized lexicon improves the sentiment analysis. However, coupling a general lexicon with another general lexicon does not improve the sentiment analysis --Abstract, page iii