Role of Social Media in Predictive Analytics

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In the last decade, social media has emerged as a front-runner as a communication medium that allows people to connect at a global level by breaking the geographical barrier and enabling e-participation of people through these social media platforms which act as a virtual world. Due to the above reasons, social media has become an integral part of our lives and we use these for almost everything, ranging from news, entertainment, recommendation on products, and connecting with friends and family. This obsession is so high that out of all Internet users, 75% use social media in one way or the other. People are so much attached to this virtual world that almost every day on average, one spends at least two hours on social media. Currently, there are around 2.9 billion active social media users worldwide. These active users are continuously posting messages, images, videos, etc on various social media platforms and generating tons of user-generated content (UGC).