Analysis of market trends using social media through Hierarchical Clustering

Project Title

Analysis of market trends using social media through Hierarchical Clustering

Project Area of Specialization Computer ScienceProject Summary

The general idea of this application is to perform Market Analysis for new business startups using software. Furthermore, Market Analyzer is a powerful tool which is used for applying simple or advanced analytics. Data transformations and pre-defined formulas create a wide range of opportunities to manipulate data, observe trends, and make better decisions. For example, if a person wants to sell clothes, the software will scrape information from public Facebook pages that sell clothes and create a database from where we can extract information about people interested in purchasing them. Thus, we can find the region, gender, and age of potential customers.

Project Objectives

The main objective of the market analyzer is to identify high yield consumer segments for the outlook period (normally 3-5years). In order to do this, it is necessary to evaluate consumption trends with a view to isolating market-based opportunities. The market analyzer is a discrete unit of analysis of products in market with a clear introduction and details. This would allow the market analyzer to be capable of being understood as a stand-alone unit using data mining techniques. Equally, it would be capable of contributing to a broader understanding of the respective company and the ways that it might consider leveraging observed trends in the operating environment.

Features

• Market Analyzer will have features such as
  • tree-based menus
  • drag-and-drop functionalities
  • richer context menus

point-and-click functionality

• The application will help in faster and easier analysis of vast range of projects within a small-time span.
• The application will be available free for a specific range.
• The application will have desktop and Android/IoS versions.

Project Implementation Method

Technologies to be used

• Anaconda
• RapidMiner

Techniques

•Clustering (Hierarchical Clustering)

•Visualization

Data Extraction Method

•We will make API request

•We will study Open Graph Protocol and its relationship to Facebook’s Social Graph

•We will use Clique Analysis

•Tools to extract data: Beautifulsoup and Python

Features

• Market Analyzer will have features such as
  • tree-based menus
  • drag-and-drop functionalities
  • richer context menus
  • point-and-click functionality.
• The application will help in faster and easier analysis of vast range of projects within a small-time span.
• The application will be available free for a specific range.
• The application will have desktop and Android/IoS versions.

Benefits of the Project

Huge change in market trends is observed every single day which leads to the need of market analyzer to get better knowledge and profit in business. Effective market analysis can help in getting valuable insights into shifts in the economy, competitors, ongoing market trends, demographics, and the traits of customers' expenditure. Market analysis is one of the vital components to help business with all the essential information and making wise business decisions

Technical Details of Final Deliverable

We will deliver app which will Analyze user product detail and then give appropriate their desire result in efficent manner.

Module to be build

Data Analysis

1. User will enter their product details.
2. Market Analyzer will find Facebook pages related to the product
3. Using data mining it will extract the information of people
4. Process the information

Potential buyers

Final Deliverable of the Project Software SystemCore Industry ITOther Industries Others Core Technology Big DataOther Technologies Artificial Intelligence(AI)Sustainable Development Goals Decent Work and Economic GrowthRequired Resources

Item Name	Type	No. of Units	Per Unit Cost (in Rs)	Total (in Rs)
			Total in (Rs)	50000
Tablet with 2 memory cards	Equipment	1	50000	50000