The idea of Twitter being able to predict box office hits doesn’t seem too strange to me. After learning about monitoring activity online, it only seems appropriate that twitter would be a go-to source for information on things such as entertainment, politics, etc.
“Aside from foretelling performance, Apple, or any brand really, can monitor the same activity to unearth opportunities for new features, prioritize fixes, and also assess experiences to ideate future products, applications, and iterations. Brands now also have the ability, if properly aligned with the prowess and empowerment, to detect potential problems before they swell and become official social tsunamis. In the case of the iPad, for instance, conflicts, crashes, hardware issues, etc., are identifiable in real-time and if the infrastructure of the company is designed for rapid response, it can then initiate the development and distribution of fixes, communication, and solutions.”
Among all of the technological advancements and benefits bought to us by social media, this one is definitely beneficial to companies. Thanks to social media monitoring, companies now have another way to measure their success (or lack of).