Online social media represent a fundamental shift of how information is being produced, transferred and consumed. User generated content in the form of blog posts, comments, and tweets establishes a connection between the producers and the consumers of information. Tracking the pulse of the social media outlets, enables companies to gain feedback and insight in how to improve and market products better. For consumers, the abundance of information and opinions from diverse sources helps them tap into the wisdom of crowds, to aid in making more informed decisions.
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Jure Leskovec (2011) studied this question.
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