EF, Centralna ekonomska knjižnica, Ljubljana (CEKLJ)
13.
From data to decision : distilling decision intelligence from user-generated content
Redek, Tjaša ; Godnov, Uroš
Purpose - The Internet has changed consumer decision-making and influenced business behaviour. User- generated product information is abundant and readily available. This paper argues that ...user-generated content can be efficiently utilised for business intelligence using data science and develops an approach to demonstrate the methods and benefits of the different techniques. Design/methodology/approach - Using Python Selenium, Beautiful Soup and various text mining approaches in R to access, retrieve and analyse user-generated content, we argue that (1) companies can extract information about the product attributes that matter most to consumers and (2) user-generated reviews enable the use of text mining results in combination with other demographic and statistical information (e.g. ratings) as an efficient input for competitive analysis. Findings - The paper shows that combining different types of data (textual and numerical data) and applying and combining different methods can provide organisations with important business information and improve business performance. Research limitations/implications - The paper shows that combining different types of data (textual and numerical data) and applying and combining different methods can provide organisations with important business information and improve business performance. Originality/value - The study makes several contributions to the marketing and management literature, mainly by illustrating the methodological advantages of text mining and accompanying statistical analysis, the different types of distilled information and their use in decision-making.
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