Utilizing Social Media Analytics to Detect Trends in Saudi Arabias Evolving Market
This work addresses the need for data-informed business and investment strategies in Saudi Arabia's evolving market, though it is incremental as it applies existing AI methods to a new regional context.
The paper tackled the problem of tracking emerging and diminishing market trends in Saudi Arabia under Vision 2030 by using AI and social media analytics, resulting in the analysis of millions of social media posts monthly to classify discussions and calculate scores for trend prediction.
Saudi Arabia faced a swift economic growth and societal transformation under Vision 2030. This offers a unique opportunity to track emerging trends in the region, which will ultimately pave the way for new business and investment possibilities. This paper explores how AI and social media analytics can identify and track trends across sectors such as construction, food and beverage, tourism, technology, and entertainment thereby helping the businesses make informed decisions. By leveraging a tailored AI-driven methodology, we analyzed millions of social media posts each month, classifying discussions and calculating scores to track the trends. The approach not only uncovered the emerging trends but also shows diminishing trends. Our methodology is able to predict the emergence and growth of trends by utilizing social media data. This approach has potential for adaptation in other regions. Ultimately, our findings highlight how ongoing, AI-powered trend analysis can enable more effective, data-informed business and development strategies in an increasingly dynamic environment.