Using online search data to forecast new product sales

Search engines are rapidly emerging to be the “go-to” sites for consumers to learn more about a product, concept or a term of interest, irrespective of the initial channel in which the interest originated — text, radio, TV, multi-media channels, word of mouth, etc. In this paper we argue that data on the search terms used by consumers can provide valuable measures and indicators of consumer interest in a product, concept or a term. Such data can...