Research Magazine reports that social media experts tried their hand at predicting the Oscars based on social media analysis. Based on the article “And the Winner Isn’t”, here is my report card for their performance.
Grade F. Professor Jonathan Taplin (Annenberg Innovation Lab) at the Univ. of Southern California) predicted Midnight in Paris for Best Picture. WRONG.
Grade F. Banyan Branch predicted The Help would win Best Picture; Viola Davis for Best Actress and Brad Pitt for Best Actor. WRONG. WRONG. WRONG.
General Sentiment added bookmaker’s odds to the mix for their predictions. They picked The Artist for Best Picture, Viola Davis for Best Actress and Jean Dujardin for Best Actor. RIGHT. WRONG. RIGHT.
Of the 7 awards included in this post by 3 firms, 2 were correct and they were the ones where social media was combined with the opinions of those who actually have skin in the game…bookies.
To be fair, consumer opinions have no voice in the Oscars. So, maybe this is a reminder that social media should be used for what it is: consumer sentiment. Social media is not a predictive tool and certainly not a tool for crowd-sourcing, at least not beyond the consumer’s area of expertise.
Let me know if you know of other prediction efforts and how they graded.