Utilizing Social Media Analytics to Detect Trends in Saudi Arabias Evolving Market

TL;DR

This paper demonstrates how AI and social media analytics can effectively identify and predict emerging and diminishing trends in Saudi Arabia's rapidly evolving market, aiding strategic decision-making.

Contribution

It introduces a tailored AI-driven methodology for analyzing social media data to detect and forecast market trends in Saudi Arabia across multiple sectors.

Findings

Successfully identified emerging trends in key sectors

Predicted growth and decline of specific trends

Showcased adaptability of the approach to other regions

Abstract

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.