IIT Kharagpur researchers create algorithm for marketing & sales on social media
The Economic Times (April 16, 2019)
Researchers at the Indian Institute of Technology Kharagpur (IITKgp) have developed an algorithm that tracks marketing and sales activities on social media. This low-cost solution would especially benefit micro, small and medium enterprises (MSMEs), according to the researchers. The solution is a model based on a computerized algorithm to identify social media influencers (with large contacts and followers) who have more reach and impact on social media.
The algorithm is applied to the data derived from social media pages of test products. This is a great way to optimise marketing for companies with fewer resources, said professor MK Tiwari, who is leading the research at IIT Kharagpur.
"Such model would enable them to reach out to the right set of influencers at a lower cost and use their influence to increase sales and profit maximisation," said Tiwari. (Read More)