Impact of Social Media and Customer Feedback on Online Auctions

摘要

Social associations are important to be known for making sense of buying selling process, the association amongst social and business systems has been widely investigated on a global online scale. In current scenario the localization impact of social events are greatly reflected through the available social media platforms. These platforms not only helps a customer to express free opinions but they also guide or motivate thousands of other buyers or bidders in making corresponding decisions. In this experiment, we focus about consideration on how an individual or group's business exchanges are motivated from the prevailing social events. Utilizing product specific scores and available open reviews, we measured the value of trust. By combing the two we have presented a framework on integrated approach. The implementations work shows the experiment setup for the same. How much will a buyer pay for product or service dependent on trust on upon seller or the trust built-up locally. To consider the more focused and real time opinion a multidimensional evolutionary analysis model have been shown. This paper also reveal the factors underlying the cost determination for an online auctions or buying patterns. At the end of paper, the graphs displaying social media trends have also been shown. These visualizations definitely improves one's understanding about a product or service.