Mining Contextual Information from Online Consumer Review - The Relationship between Information Gain and Product Sales -
Yejin Kim, Sang-Ho Oh, Seongbeom Hwang, Jeonghoon Mo · Journal of Korean Institute of Industrial Engineers · 2019
Product sales forecasting is one of the factors that gives significant impact on the company’s sales and production plans. In order to increase the accuracy of sales forecast, companies are trying to reflect the opinions of consumers. In this study, we reconfirm the work of Hwang (2017) which analyzed the consumer review by applying the information gain to predict the product sales. This study is meaningful in that it applies the research model to the automobile market, which is one of the traditional durable goods market. Compared to the smartphone market, which has a short product life cycle, the automobile market has well-defined consumers and products are specifically targeted to each consumer group. In this paper, we verify the applicability and predictive power of proposed methodology of Hwang (2017) using actual market data, and show the relationship between information gain from online consumer review and product sales.