Can google trends improve sales forecasts on a product level?

Research output: Contribution to journal › Article › Research › peer review

Authors

  • Benjamin Fritzsch
  • Kai Wenger
  • Philipp Sibbertsen
  • Georg Ullmann

Research Organisations

External Research Organisations

  • Institut für integrierte Produktion Hannover (IPH)
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Details

Original languageEnglish
Pages (from-to)1409-1414
Number of pages6
JournalApplied Economics Letters
Volume27
Issue number17
Early online date1 Nov 2019
Publication statusPublished - 6 Oct 2020

Abstract

Combining standard time series models with search query data can be helpful in predicting sales. We include the search volume of company as well as product-related keywords provided by Google Trends as new predictors in models to forecast sales on a product level. Using weekly data from January 2015 to December 2016 of two products of the audio company Sennheiser we find evidence that using Google Trends data can enhance the prediction performance of conventional models.

Keywords

    forecasting, Google econometrics, search query data

ASJC Scopus subject areas

Cite this

Can google trends improve sales forecasts on a product level? / Fritzsch, Benjamin; Wenger, Kai; Sibbertsen, Philipp et al.
In: Applied Economics Letters, Vol. 27, No. 17, 06.10.2020, p. 1409-1414.

Research output: Contribution to journal › Article › Research › peer review

Fritzsch, B, Wenger, K, Sibbertsen, P & Ullmann, G 2020, 'Can google trends improve sales forecasts on a product level?', Applied Economics Letters, vol. 27, no. 17, pp. 1409-1414. https://doi.org/10.1080/13504851.2019.1686110
Fritzsch, B., Wenger, K., Sibbertsen, P., & Ullmann, G. (2020). Can google trends improve sales forecasts on a product level? Applied Economics Letters, 27(17), 1409-1414. https://doi.org/10.1080/13504851.2019.1686110
Fritzsch B, Wenger K, Sibbertsen P, Ullmann G. Can google trends improve sales forecasts on a product level? Applied Economics Letters. 2020 Oct 6;27(17):1409-1414. Epub 2019 Nov 1. doi: 10.1080/13504851.2019.1686110
Fritzsch, Benjamin ; Wenger, Kai ; Sibbertsen, Philipp et al. / Can google trends improve sales forecasts on a product level?. In: Applied Economics Letters. 2020 ; Vol. 27, No. 17. pp. 1409-1414.
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title = "Can google trends improve sales forecasts on a product level?",
abstract = "Combining standard time series models with search query data can be helpful in predicting sales. We include the search volume of company as well as product-related keywords provided by Google Trends as new predictors in models to forecast sales on a product level. Using weekly data from January 2015 to December 2016 of two products of the audio company Sennheiser we find evidence that using Google Trends data can enhance the prediction performance of conventional models.",
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