How social media can help gauge economic impact of COVID-19
Analysis of content that businesses post on Facebook or other social media platforms can help chart the economic impact and their recovery in countries affected by the COVID-19 pandemic, says a study. Traditional economic recovery estimates, such as surveys and interviews, are usually costly, time-consuming and do not scale-up well
Method relies on assumption that businesses tend to publish more social media posts when they are open and fewer when they are closed, hence analysing the aggregated posting activity. Source: Reuters