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The Role of Twitter Medium in Business with Regression Analysis and Statistical Modelling
Jia Cong1, Zubair Ahmad2, Basim S O Alsaedi3
1Marketing Department, Management School, Lancaster University, Lancaster, UK.
Computational Intelligence and Neuroscience
|November 1, 2021
Summary
Twitter advertising positively impacts sales, according to this study. Researchers used linear regression and statistical tests to analyze Twitter's effect on sales, introducing a new statistical model for financial applications.
Area of Science:
- Marketing and Sales Analytics
- Statistical Modeling
- Social Media Marketing
Background:
- Marketing strategies are crucial for promoting brands and influencing sales.
- Online advertising, particularly on social media, is a key component of modern marketing.
- Twitter is a significant online platform for marketers to reach potential customers.
Purpose of the Study:
- To investigate the impact of Twitter advertising on product and service sales.
- To assess the statistical significance and utility of Twitter advertising campaigns.
- To introduce and validate a novel statistical model for financial and sales data analysis.
Main Methods:
- Simple linear regression modeling was employed to analyze the relationship between Twitter advertising and sales.
- Statistical tests, including the t-test and correlation test, were utilized to validate hypotheses.
- A new statistical model, the exponential T-X exponentiated exponential distribution, was developed.
Main Results:
- Twitter advertising demonstrates a statistically significant positive impact on sales.
- The newly introduced exponential T-X exponentiated exponential model exhibits heavy-tailed characteristics.
- The proposed model's applicability was successfully demonstrated using sales data.
Conclusions:
- Twitter advertising is an effective tool for increasing sales.
- The novel exponential T-X exponentiated exponential model offers valuable properties for financial and sales-related analyses.
- The study confirms the positive influence of social media marketing on business outcomes.
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