• Journal of Intelligence and Information Systems
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• v.17 no.4
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• pp.131-142
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• 2011

In recent years, Social Network Service, which is defined as a web-based service that allows an individual to construct a public or a semi-public profile within a bounded system, articulates a list of other users with whom they share connections, and traverses their list of connections. For example, Facebook and Twitter are the representative sites of Social Network Service, and these sites are the big issue in the world. A lot of people use Social Network Services to connect and maintain social relationship. Recently the users of Social Network Services have increased dramatically. Accordingly, many organizations become interested in Social Network Services as means of marketing, media, communication with their customers, and so on, because social network services can offer a variety of benefits to organizations such as companies and associations. In other words, organizations can use Social Network Services to respond rapidly to various user's behaviors because Social Network Services can make it possible to communicate between the users more easily and faster. And marketing cost of the Social Network Service is lower than that of existing tools such as broadcasts, news papers, and direct mails. In addition, Social network Services are growing in market place. So, the organizations such as companies and associations can acquire potential customers for the future. However, organizations uniformly communicate with users through Social Network Service without consideration of the characteristics of the networks although networks have different effects on information deliveries. For example, members' cohesion in an offline communication is higher than that in an online communication because the members of the offline communication are very close. that is, the network of the offline communication has a strong tie. Accordingly, information delivery is fast in the network of the offline communication. In this study, we compose two networks which have different characteristic of communication in Twitter. First network is constructed with data based on an offline communication such as friend, family, senior and junior in school. Second network is constructed with randomly selected data from users who want to associate with friends in online. Each network size is 250 people who divide with three groups. The first group is an ego which means a person in the center of the network. The second group is the ego's followers. The last group is composed of the ego's follower's followers. We compare the networks through social network analysis and follower's reaction analysis. We investigate density and centrality to analyze the characteristic of each network. And we analyze the follower's reactions such as replies and retweets to find differences of information delivery in each network. Our experiment results indicate that density and centrality of the offline communicationbased network are higher than those of the online-based network. Also the number of replies are larger than that of retweets in the offline communication-based network. On the other hand, the number of retweets are larger than that of replies in the online based network. We identified that the effect of information delivery in the offline communication-based network was different from those in the online communication-based network through experiments. So, you configure the appropriate network types considering the characteristics of the network if you want to use social network as an effective marketing tool.

• Asia pacific journal of information systems
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• v.21 no.4
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• pp.45-62
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• 2011

The notion of information systems (IS) continuance has recently emerged as one of the most important research issues in the field of IS. A great deal of research has been conducted thus far on the basis of theories adapted from various disciplines including consumer behaviors and social psychology, in addition to theories regarding information technology (IT) acceptance. This previous body of knowledge provides a robust research framework that can already account for the determination of IS continuance; however, this research points to other, thus-far-unelucidated determinant factors such as habit, which were not included in traditional IT acceptance frameworks, and also re-emphasizes the importance of emotion-related constructs such as satisfaction in addition to conscious intention with rational beliefs such as usefulness. Experiences should also be considered one of the most important factors determining the characteristics of information system (IS) continuance and the features distinct from those determining IS acceptance, because more experienced users may have more opportunities for IS use, which would allow them more frequent use than would be available to less experienced or non-experienced users. Interestingly, experience has dual features that may contradictorily influence IS use. On one hand, attitudes predicated on direct experience have been shown to predict behavior better than attitudes from indirect experience or without experience; as more information is available, direct experience may render IS use a more salient behavior, and may also make IS use more accessible via memory. Therefore, experience may serve to intensify the relationship between IS use and conscious intention with evaluations, On the other hand, experience may culminate in the formation of habits: greater experience may also imply more frequent performance of the behavior, which may lead to the formation of habits, Hence, like experience, users' activation of an IS may be more dependent on habit-that is, unconscious automatic use without deliberation regarding the IS-and less dependent on conscious intentions, Furthermore, experiences can provide basic information necessary for satisfaction with the use of a specific IS, thus spurring the formation of both conscious intentions and unconscious habits, Whereas IT adoption Is a one-time decision, IS continuance may be a series of users' decisions and evaluations based on satisfaction with IS use. Moreover. habits also cannot be formed without satisfaction, even when a behavior is carried out repeatedly. Thus, experiences also play a critical role in satisfaction, as satisfaction is the consequence of direct experiences of actual behaviors. In particular, emotional experiences such as enjoyment can become as influential on IS use as are utilitarian experiences such as usefulness; this is especially true in light of the modern increase in membership-based hedonic systems - including online games, web-based social network services (SNS), blogs, and portals-all of which attempt to provide users with self-fulfilling value. Therefore, in order to understand more clearly the role of experiences in IS continuance, analysis must be conducted under a research framework that includes intentions, habits, and satisfaction, as experience may not only have duration-based moderating effects on the relationship between both intention and habit and the activation of IS use, but may also have content-based positive effects on satisfaction. This is consistent with the basic assumptions regarding the determining factors in IS continuance as suggested by Oritz de Guinea and Markus: consciousness, emotion, and habit. The principal objective of this study was to explore and assess the effects of experiences in IS continuance, with special consideration given to conscious intentions and unconscious habits, as well as satisfaction. IN service of this goal, along with a review of the relevant literature regarding the effects of experiences and habit on continuous IS use, this study suggested a research model that represents the roles of experience: its moderating role in the relationships of IS continuance with both conscious intention and unconscious habit, and its antecedent role in the development of satisfaction. For the validation of this research model. Korean university student users of 'Cyworld', one of the most influential social network services in South Korea, were surveyed, and the data were analyzed via partial least square (PLS) analysis to assess the implications of this study. In result most hypotheses in our research model were statistically supported with the exception of one. Although one hypothesis was not supported, the study's findings provide us with some important implications. First the role of experience in IS continuance differs from its role in IS acceptance. Second, the use of IS was explained by the dynamic balance between habit and intention. Third, the importance of satisfaction was confirmed from the perspective of IS continuance with experience.

• Journal of Food Hygiene and Safety
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• v.25 no.4
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• pp.410-417
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• 2010

Various functional foods, marketing health and functional effects, have been distributed in the market. These products, being in forms of foods, tablets, and capsules, are likely to be mistaken as drugs. In addition, non-experts may sell these as foods, or use these for therapy. Efforts for creating health food regulations or building regulatory system for improving the current status of functional foods have been made, but these have not been communicated to consumers yet. As a result, problems of circulating functional foods for therapy or adding illegal medical to such products have persisted, which has become worse by internet media. The cause of this problem can be categorized into (1) product itself and (2) its use, but in either case, one possible cause is lack of communications with consumers. Potential problems that can be caused by functional foods include illegal substances, hazardous substances, allergic reactions, considerations when administered to patients, drug interactions, ingredients with purity or concentrations too low to be detected, products with metabolic activations, health risks from over- or under-dose of vitamin and minerals, and products with alkaloids. (Journal of Health Science, 56, Supplement (2010)). The reason why side effects related to functional foods have been increasing is that under-qualified functional food companies are exaggerating the functionality for marketing purposes. KFDA has been informing consumers, through its web pages, to address the above mentioned issues related to functional foods, but there still is room for improvement, to promote proper use of functional foods and avoid drug interactions. Specifically, to address these issues, institutionalizing to collect information on approved products and their side effects, settling reevaluation systems, and standardizing preclinical tests and clinical tests are becoming urgent. Also to provide crucial information, unified database systems, seamlessly aggregating heterogeneous data in different domains, with user interfaces enabling effective one-stop search, are crucial.

• Journal of the Korean BIBLIA Society for library and Information Science
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• v.32 no.1
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• pp.35-57
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• 2021

This paper is to grasp the current trends of national bibliographies through analyzing representative national bibliographies using literature review, analysis of national bibliographies' web pages and survey. First, in order to conform to the definition of a national bibliography as a record of a national publication, it attempts to include a variety of materials from print to electronic resources, but in reality it cannot contain all the materials, so there are exceptions. It is impossible to create a general selection guide for national bibliography coverage, and a plan that reflects the national characteristics and prepares a valid and comprehensive coverage based on analysis is needed. Second, cooperation with publishers and libraries is being made to efficiently generate national bibliography. For the efficiency of national bibliography generation, changes should be sought such as the standardization and consistency, the collection level metadata description for digital resources, and the creation of national bibliography using linked data. Third, national bibliography is published through the national bibliographic online search system, linked data search, MARC download using PDF, OAI-PMH, SRU, Z39.50, and mass download in RDF/XML format, and is integrated with the online public access catalog or also built separately. Above all, national bibliographies and online public access catalogs need to be built in a way of data reuse through an integrated library system. Fourth, as a differentiated function for national bibliography, various services such as user tagging and national bibliographic statistics are provided along with various browsing functions. In addition, services of analysis of national bibliographic big data, links to electronic publications, and mass download of linked data should be provided, and it is necessary to identify users' needs and provide open services that reflect them in order to develop differentiated services. Through the current trends and considerations of the national bibliographies analyzed in this study, it will be possible to explore changes in national and international national bibliography.

• Journal of Nutrition and Health
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• v.55 no.1
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• pp.21-35
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• 2022

The recommended meal composition allows the general people to organize meals using the number of intakes of foods from each of six food groups (grains, meat·fish·eggs·beans, vegetables, fruits, milk·dairy products and oils·sugars) to meet Dietary Reference Intakes for Koreans (KDRIs) without calculating complex nutritional values. Through an integrated analysis of data from the 6th to 7th Korean National Health and Nutrition Examination Surveys (2013-2018), representative foods for each food group were selected, and the amounts of representative foods per person were derived based on energy. Based on the EER by age and gender from the KDRIs, a total of 12 kinds of diets were suggested by differentiating meal compositions by age (aged 1-2, 3-5, 6-11, 12-18, 19-64, 65-74 and ≥ 75 years) and gender. The 2020 Food Balance Wheel included the 6th food group of oils and sugars to raise public awareness and avoid confusion in the practical utilization of the model by industries or individuals in reducing the consistent increasing intakes of oils and sugars. To promote the everyday use of the Food Balance Wheel and recommended meal compositions among the general public, the poster of the Food Balance Wheel was created in five languages (Korean, English, Japanese, Vietnamese and Chinese) along with card news. A survey was conducted to provide a basis for categorizing nutritional problems by life cycles and developing customized web-based messages to the public. Based on survey results two types of card news were produced for the general public and youth. Additionally, the educational program was developed through a series of processes, such as prioritization of educational topics, setting educational goals for each stage, creation of a detailed educational system chart and teaching-learning plans for the development of educational materials and media.

• Journal of Intelligence and Information Systems
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• v.19 no.3
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• pp.1-23
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• 2013

To discover significant social issues such as unemployment, economy crisis, social welfare etc. that are urgent issues to be solved in a modern society, in the existing approach, researchers usually collect opinions from professional experts and scholars through either online or offline surveys. However, such a method does not seem to be effective from time to time. As usual, due to the problem of expense, a large number of survey replies are seldom gathered. In some cases, it is also hard to find out professional persons dealing with specific social issues. Thus, the sample set is often small and may have some bias. Furthermore, regarding a social issue, several experts may make totally different conclusions because each expert has his subjective point of view and different background. In this case, it is considerably hard to figure out what current social issues are and which social issues are really important. To surmount the shortcomings of the current approach, in this paper, we develop a prototype system that semi-automatically detects social issue keywords representing social issues and problems from about 1.3 million news articles issued by about 10 major domestic presses in Korea from June 2009 until July 2012. Our proposed system consists of (1) collecting and extracting texts from the collected news articles, (2) identifying only news articles related to social issues, (3) analyzing the lexical items of Korean sentences, (4) finding a set of topics regarding social keywords over time based on probabilistic topic modeling, (5) matching relevant paragraphs to a given topic, and (6) visualizing social keywords for easy understanding. In particular, we propose a novel matching algorithm relying on generative models. The goal of our proposed matching algorithm is to best match paragraphs to each topic. Technically, using a topic model such as Latent Dirichlet Allocation (LDA), we can obtain a set of topics, each of which has relevant terms and their probability values. In our problem, given a set of text documents (e.g., news articles), LDA shows a set of topic clusters, and then each topic cluster is labeled by human annotators, where each topic label stands for a social keyword. For example, suppose there is a topic (e.g., Topic1 = {(unemployment, 0.4), (layoff, 0.3), (business, 0.3)}) and then a human annotator labels "Unemployment Problem" on Topic1. In this example, it is non-trivial to understand what happened to the unemployment problem in our society. In other words, taking a look at only social keywords, we have no idea of the detailed events occurring in our society. To tackle this matter, we develop the matching algorithm that computes the probability value of a paragraph given a topic, relying on (i) topic terms and (ii) their probability values. For instance, given a set of text documents, we segment each text document to paragraphs. In the meantime, using LDA, we can extract a set of topics from the text documents. Based on our matching process, each paragraph is assigned to a topic, indicating that the paragraph best matches the topic. Finally, each topic has several best matched paragraphs. Furthermore, assuming there are a topic (e.g., Unemployment Problem) and the best matched paragraph (e.g., Up to 300 workers lost their jobs in XXX company at Seoul). In this case, we can grasp the detailed information of the social keyword such as "300 workers", "unemployment", "XXX company", and "Seoul". In addition, our system visualizes social keywords over time. Therefore, through our matching process and keyword visualization, most researchers will be able to detect social issues easily and quickly. Through this prototype system, we have detected various social issues appearing in our society and also showed effectiveness of our proposed methods according to our experimental results. Note that you can also use our proof-of-concept system in http://dslab.snu.ac.kr/demo.html.

• Journal of Intelligence and Information Systems
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• v.19 no.1
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• pp.57-77
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• 2013

Social media has become one of the most popular media in web and mobile application. In 2011, social networks and blogs are still the top destination of online users, according to a study from Nielsen Company. In their studies, nearly 4 in 5active users visit social network and blog. Social Networks and Blogs sites rule Americans' Internet time, accounting to 23 percent of time spent online. Facebook is the main social network that the U.S internet users spend time more than the other social network services such as Yahoo, Google, AOL Media Network, Twitter, Linked In and so on. In recent trend, most of the companies promote their products in the Facebook by creating the "Facebook Page" that refers to specific product. The "Like" option allows user to subscribed and received updates their interested on from the page. The film makers which produce a lot of films around the world also take part to market and promote their films by exploiting the advantages of using the "Facebook Page". In addition, a great number of streaming service providers allows users to subscribe their service to watch and enjoy movies and TV program. They can instantly watch movies and TV program over the internet to PCs, Macs and TVs. Netflix alone as the world's leading subscription service have more than 30 million streaming members in the United States, Latin America, the United Kingdom and the Nordics. As the matter of facts, a million of movies and TV program with different of genres are offered to the subscriber. In contrast, users need spend a lot time to find the right movies which are related to their interest genre. Recent years there are many researchers who have been propose a method to improve prediction the rating or preference that would give the most related items such as books, music or movies to the garget user or the group of users that have the same interest in the particular items. One of the most popular methods to build recommendation system is traditional Collaborative Filtering (CF). The method compute the similarity of the target user and other users, which then are cluster in the same interest on items according which items that users have been rated. The method then predicts other items from the same group of users to recommend to a group of users. Moreover, There are many items that need to study for suggesting to users such as books, music, movies, news, videos and so on. However, in this paper we only focus on movie as item to recommend to users. In addition, there are many challenges for CF task. Firstly, the "sparsity problem"; it occurs when user information preference is not enough. The recommendation accuracies result is lower compared to the neighbor who composed with a large amount of ratings. The second problem is "cold-start problem"; it occurs whenever new users or items are added into the system, which each has norating or a few rating. For instance, no personalized predictions can be made for a new user without any ratings on the record. In this research we propose a clustering method according to the users' genre interest extracted from social network service (SNS) and user's movies rating information system to solve the "cold-start problem." Our proposed method will clusters the target user together with the other users by combining the user genre interest and the rating information. It is important to realize a huge amount of interesting and useful user's information from Facebook Graph, we can extract information from the "Facebook Page" which "Like" by them. Moreover, we use the Internet Movie Database(IMDb) as the main dataset. The IMDbis online databases that consist of a large amount of information related to movies, TV programs and including actors. This dataset not only used to provide movie information in our Movie Rating Systems, but also as resources to provide movie genre information which extracted from the "Facebook Page". Formerly, the user must login with their Facebook account to login to the Movie Rating System, at the same time our system will collect the genre interest from the "Facebook Page". We conduct many experiments with other methods to see how our method performs and we also compare to the other methods. First, we compared our proposed method in the case of the normal recommendation to see how our system improves the recommendation result. Then we experiment method in case of cold-start problem. Our experiment show that our method is outperform than the other methods. In these two cases of our experimentation, we see that our proposed method produces better result in case both cases.

• Journal of Distribution Science
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• v.8 no.3
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• pp.49-56
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• 2010

At the initial stage of Internet advertising, banner advertising came into fashion. As the Internet developed into a central part of daily lives and the competition in the on-line advertising market was getting fierce, there was not enough space for banner advertising, which rushed to portal sites only. All these factors was responsible for an upsurge in advertising prices. Consequently, the high-cost and low-efficiency problems with banner advertising were raised, which led to an emergence of keyword advertising as a new type of Internet advertising to replace its predecessor. In the beginning of 2000s, when Internet advertising came to be activated, display advertisement including banner advertising dominated the Net. However, display advertising showed signs of gradual decline, and registered minus growth in the year 2009, whereas keyword advertising showed rapid growth and started to outdo display advertising as of the year 2005. Keyword advertising refers to the advertising technique that exposes relevant advertisements on the top of research sites when one searches for a keyword. Instead of exposing advertisements to unspecified individuals like banner advertising, keyword advertising, or targeted advertising technique, shows advertisements only when customers search for a desired keyword so that only highly prospective customers are given a chance to see them. In this context, it is also referred to as search advertising. It is regarded as more aggressive advertising with a high hit rate than previous advertising in that, instead of the seller discovering customers and running an advertisement for them like TV, radios or banner advertising, it exposes advertisements to visiting customers. Keyword advertising makes it possible for a company to seek publicity on line simply by making use of a single word and to achieve a maximum of efficiency at a minimum cost. The strong point of keyword advertising is that customers are allowed to directly contact the products in question through its more efficient advertising when compared to the advertisements of mass media such as TV and radio, etc. The weak point of keyword advertising is that a company should have its advertisement registered on each and every portal site and finds it hard to exercise substantial supervision over its advertisement, there being a possibility of its advertising expenses exceeding its profits. Keyword advertising severs as the most appropriate methods of advertising for the sales and publicity of small and medium enterprises which are in need of a maximum of advertising effect at a low advertising cost. At present, keyword advertising is divided into CPC advertising and CPM advertising. The former is known as the most efficient technique, which is also referred to as advertising based on the meter rate system; A company is supposed to pay for the number of clicks on a searched keyword which users have searched. This is representatively adopted by Overture, Google's Adwords, Naver's Clickchoice, and Daum's Clicks, etc. CPM advertising is dependent upon the flat rate payment system, making a company pay for its advertisement on the basis of the number of exposure, not on the basis of the number of clicks. This method fixes a price for advertisement on the basis of 1,000-time exposure, and is mainly adopted by Naver's Timechoice, Daum's Speciallink, and Nate's Speedup, etc, At present, the CPC method is most frequently adopted. The weak point of the CPC method is that advertising cost can rise through constant clicks from the same IP. If a company makes good use of strategies for maximizing the strong points of keyword advertising and complementing its weak points, it is highly likely to turn its visitors into prospective customers. Accordingly, an advertiser should make an analysis of customers' behavior and approach them in a variety of ways, trying hard to find out what they want. With this in mind, her or she has to put multiple keywords into use when running for ads. When he or she first runs an ad, he or she should first give priority to which keyword to select. The advertiser should consider how many individuals using a search engine will click the keyword in question and how much money he or she has to pay for the advertisement. As the popular keywords that the users of search engines are frequently using are expensive in terms of a unit cost per click, the advertisers without much money for advertising at the initial phrase should pay attention to detailed keywords suitable to their budget. Detailed keywords are also referred to as peripheral keywords or extension keywords, which can be called a combination of major keywords. Most keywords are in the form of texts. The biggest strong point of text-based advertising is that it looks like search results, causing little antipathy to it. But it fails to attract much attention because of the fact that most keyword advertising is in the form of texts. Image-embedded advertising is easy to notice due to images, but it is exposed on the lower part of a web page and regarded as an advertisement, which leads to a low click through rate. However, its strong point is that its prices are lower than those of text-based advertising. If a company owns a logo or a product that is easy enough for people to recognize, the company is well advised to make good use of image-embedded advertising so as to attract Internet users' attention. Advertisers should make an analysis of their logos and examine customers' responses based on the events of sites in question and the composition of products as a vehicle for monitoring their behavior in detail. Besides, keyword advertising allows them to analyze the advertising effects of exposed keywords through the analysis of logos. The logo analysis refers to a close analysis of the current situation of a site by making an analysis of information about visitors on the basis of the analysis of the number of visitors and page view, and that of cookie values. It is in the log files generated through each Web server that a user's IP, used pages, the time when he or she uses it, and cookie values are stored. The log files contain a huge amount of data. As it is almost impossible to make a direct analysis of these log files, one is supposed to make an analysis of them by using solutions for a log analysis. The generic information that can be extracted from tools for each logo analysis includes the number of viewing the total pages, the number of average page view per day, the number of basic page view, the number of page view per visit, the total number of hits, the number of average hits per day, the number of hits per visit, the number of visits, the number of average visits per day, the net number of visitors, average visitors per day, one-time visitors, visitors who have come more than twice, and average using hours, etc. These sites are deemed to be useful for utilizing data for the analysis of the situation and current status of rival companies as well as benchmarking. As keyword advertising exposes advertisements exclusively on search-result pages, competition among advertisers attempting to preoccupy popular keywords is very fierce. Some portal sites keep on giving priority to the existing advertisers, whereas others provide chances to purchase keywords in question to all the advertisers after the advertising contract is over. If an advertiser tries to rely on keywords sensitive to seasons and timeliness in case of sites providing priority to the established advertisers, he or she may as well make a purchase of a vacant place for advertising lest he or she should miss appropriate timing for advertising. However, Naver doesn't provide priority to the existing advertisers as far as all the keyword advertisements are concerned. In this case, one can preoccupy keywords if he or she enters into a contract after confirming the contract period for advertising. This study is designed to take a look at marketing for keyword advertising and to present effective strategies for keyword advertising marketing. At present, the Korean CPC advertising market is virtually monopolized by Overture. Its strong points are that Overture is based on the CPC charging model and that advertisements are registered on the top of the most representative portal sites in Korea. These advantages serve as the most appropriate medium for small and medium enterprises to use. However, the CPC method of Overture has its weak points, too. That is, the CPC method is not the only perfect advertising model among the search advertisements in the on-line market. So it is absolutely necessary that small and medium enterprises including independent shopping malls should complement the weaknesses of the CPC method and make good use of strategies for maximizing its strengths so as to increase their sales and to create a point of contact with customers.

• Journal of Intelligence and Information Systems
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• v.18 no.2
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• pp.143-156
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• 2012

People easily believe that news and stock index are closely related. They think that securing news before anyone else can help them forecast the stock prices and enjoy great profit, or perhaps capture the investment opportunity. However, it is no easy feat to determine to what extent the two are related, come up with the investment decision based on news, or find out such investment information is valid. If the significance of news and its impact on the stock market are analyzed, it will be possible to extract the information that can assist the investment decisions. The reality however is that the world is inundated with a massive wave of news in real time. And news is not patterned text. This study suggests the stock-index invest model based on "News Big Data" opinion mining that systematically collects, categorizes and analyzes the news and creates investment information. To verify the validity of the model, the relationship between the result of news opinion mining and stock-index was empirically analyzed by using statistics. Steps in the mining that converts news into information for investment decision making, are as follows. First, it is indexing information of news after getting a supply of news from news provider that collects news on real-time basis. Not only contents of news but also various information such as media, time, and news type and so on are collected and classified, and then are reworked as variable from which investment decision making can be inferred. Next step is to derive word that can judge polarity by separating text of news contents into morpheme, and to tag positive/negative polarity of each word by comparing this with sentimental dictionary. Third, positive/negative polarity of news is judged by using indexed classification information and scoring rule, and then final investment decision making information is derived according to daily scoring criteria. For this study, KOSPI index and its fluctuation range has been collected for 63 days that stock market was open during 3 months from July 2011 to September in Korea Exchange, and news data was collected by parsing 766 articles of economic news media M company on web page among article carried on stock information>news>main news of portal site Naver.com. In change of the price index of stocks during 3 months, it rose on 33 days and fell on 30 days, and news contents included 197 news articles before opening of stock market, 385 news articles during the session, 184 news articles after closing of market. Results of mining of collected news contents and of comparison with stock price showed that positive/negative opinion of news contents had significant relation with stock price, and change of the price index of stocks could be better explained in case of applying news opinion by deriving in positive/negative ratio instead of judging between simplified positive and negative opinion. And in order to check whether news had an effect on fluctuation of stock price, or at least went ahead of fluctuation of stock price, in the results that change of stock price was compared only with news happening before opening of stock market, it was verified to be statistically significant as well. In addition, because news contained various type and information such as social, economic, and overseas news, and corporate earnings, the present condition of type of industry, market outlook, the present condition of market and so on, it was expected that influence on stock market or significance of the relation would be different according to the type of news, and therefore each type of news was compared with fluctuation of stock price, and the results showed that market condition, outlook, and overseas news was the most useful to explain fluctuation of news. On the contrary, news about individual company was not statistically significant, but opinion mining value showed tendency opposite to stock price, and the reason can be thought to be the appearance of promotional and planned news for preventing stock price from falling. Finally, multiple regression analysis and logistic regression analysis was carried out in order to derive function of investment decision making on the basis of relation between positive/negative opinion of news and stock price, and the results showed that regression equation using variable of market conditions, outlook, and overseas news before opening of stock market was statistically significant, and classification accuracy of logistic regression accuracy results was shown to be 70.0% in rise of stock price, 78.8% in fall of stock price, and 74.6% on average. This study first analyzed relation between news and stock price through analyzing and quantifying sensitivity of atypical news contents by using opinion mining among big data analysis techniques, and furthermore, proposed and verified smart investment decision making model that could systematically carry out opinion mining and derive and support investment information. This shows that news can be used as variable to predict the price index of stocks for investment, and it is expected the model can be used as real investment support system if it is implemented as system and verified in the future.

• Journal of Intelligence and Information Systems
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• v.22 no.1
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• pp.63-82
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• 2016

Individuals gather information online to resolve problems in their daily lives and make various decisions about the purchase of products or services. With the revolutionary development of information technology, Web 2.0 has allowed more people to easily generate and use online reviews such that the volume of information is rapidly increasing, and the usefulness and significance of analyzing the unstructured data have also increased. This paper presents an analysis on the lexical features of expert product reviews to determine their influence on consumers' purchasing decisions. The focus was on how unstructured data can be organized and used in diverse contexts through text mining. In addition, diverse lexical features of expert reviews of contents provided by a third-party review site were extracted and defined. Expert reviews are defined as evaluations by people who have expert knowledge about specific products or services in newspapers or magazines; this type of review is also called a critic review. Consumers who purchased products before the widespread use of the Internet were able to access expert reviews through newspapers or magazines; thus, they were not able to access many of them. Recently, however, major media also now provide online services so that people can more easily and affordably access expert reviews compared to the past. The reason why diverse reviews from experts in several fields are important is that there is an information asymmetry where some information is not shared among consumers and sellers. The information asymmetry can be resolved with information provided by third parties with expertise to consumers. Then, consumers can read expert reviews and make purchasing decisions by considering the abundant information on products or services. Therefore, expert reviews play an important role in consumers' purchasing decisions and the performance of companies across diverse industries. If the influence of qualitative data such as reviews or assessment after the purchase of products can be separately identified from the quantitative data resources, such as the actual quality of products or price, it is possible to identify which aspects of product reviews hamper or promote product sales. Previous studies have focused on the characteristics of the experts themselves, such as the expertise and credibility of sources regarding expert reviews; however, these studies did not suggest the influence of the linguistic features of experts' product reviews on consumers' overall evaluation. However, this study focused on experts' recommendations and evaluations to reveal the lexical features of expert reviews and whether such features influence consumers' overall evaluations and purchasing decisions. Real expert product reviews were analyzed based on the suggested methodology, and five lexical features of expert reviews were ultimately determined. Specifically, the "review depth" (i.e., degree of detail of the expert's product analysis), and "lack of assurance" (i.e., degree of confidence that the expert has in the evaluation) have statistically significant effects on consumers' product evaluations. In contrast, the "positive polarity" (i.e., the degree of positivity of an expert's evaluations) has an insignificant effect, while the "negative polarity" (i.e., the degree of negativity of an expert's evaluations) has a significant negative effect on consumers' product evaluations. Finally, the "social orientation" (i.e., the degree of how many social expressions experts include in their reviews) does not have a significant effect on consumers' product evaluations. In summary, the lexical properties of the product reviews were defined according to each relevant factor. Then, the influence of each linguistic factor of expert reviews on the consumers' final evaluations was tested. In addition, a test was performed on whether each linguistic factor influencing consumers' product evaluations differs depending on the lexical features. The results of these analyses should provide guidelines on how individuals process massive volumes of unstructured data depending on lexical features in various contexts and how companies can use this mechanism from their perspective. This paper provides several theoretical and practical contributions, such as the proposal of a new methodology and its application to real data.