Social Media And Its Impact On Society Essay

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Social media has changed a lot in the past ten years. Along with social media, the amount of data that is generated from social media has increased massively. “At present, there are over 288 million active monthly users of Twitter who post more than 500 million tweets per day, as well as 1.35 billion monthly active users on Facebook and 187 million active monthly users on LinkedIn”. (Nguyen and Jung, 2016:137). The usage of social media currently shows that so much data is generated every day. Finding ways to utilise this data is a key issue that business have. Many big business have Facebook pages and Twitter accounts so it is crucial for business to gain a competitive edge by taking advantage of online data. Social media data can come in other forms as well. The most mainstream categories of social media include wikis, blogs, microblogs, informal organizations, video and photograph sharing and online groups (Chen et al., 2015). Facebook and Twitter are the two most popular forms but there are other forms of social media that can produce information. Making key utilisation of social media is at the top of many firms’ plans (Lam et al., 2016). To unlock the beneficial insights of social media many tool and techniques can be used. This literature review will look at sentiment analysis and web mining techniques. The focus will also look at how useful analysing data online can be to businesses. When it comes to investigating social media data, Twitter seems to be

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