From Technology Review:
Social media services such as Twitter provide a fascinating insight into the collective mind and mood. Computational social scientists say they can see evidence in the Twitter stream of all kinds of events in real time. Among these phenomena are traffic jams, rainbows and even earthquakes. It’s not hard to imagine a service that updates people about these things as they happen.
Much harder is the ability to make forecasts. However various groups say they can use the Twitter stream to predict the outcome of elections, stock market prices and future box office revenues.
Today, Marton Mestyan from the Budapest University of Technology and Economics in Hungary, and a couple of pals, say that the patterns of behaviour on Wikipedia can lead to similar predictions. In particular, they use this behaviour to predict box office revenue of movies a month before they are released.
Continue reading the rest of the story on Technology Review