Background
Google Trends also allows the user to compare the volume of searches between two or more terms. An additional feature of Google Trends is in its ability to show news related to the search-term overlaid on the chart, showing how new events affect search popularity.
Originally, Google neglected updating Google Trends on a regular basis. In March 2007, internet bloggers noticed that Google had not added new data since November 2006, and Trends was updated within a week. Google did not update Trends from March until July 30, and only after it was blogged about, again. Google now claims to be "updating the information provided by Google Trends daily; Hot Trends is updated hourly."
On August 6, 2008, Google launched a free service called Insights for Search. Insights for Search is an extension of Google Trends and although the tool is meant for marketers, it can be utilized by any user. The tool allows for the tracking of various words and phrases that are typed into Google’s search-box. The tracking device provided a more-indepth analysis of results. It also has the ability to categorize and organize the data, with special attention given to the breakdown of information by geographical areas. In 2012, the Insights for Search has been merged into Google Trends with a new interface.
Evidence is provided by Jeremy Ginsberg et al. that Google Trends data can be used to track influenza-like illness in a population. Because the relative frequency of certain queries is highly correlated with the percentage of physician visits in which a patient presents with influenza-like symptoms, an estimate of weekly influenza activity can be reported. Furthermore, it was shown by Tobias Preis et al. that there is a correlation between Google Trends data of company names and transaction volumes of the corresponding stocks on a weekly time scale.
In April 2012, Tobias Preis, Helen Susannah Moat, H. Eugene Stanley and Steven R. Bishop used Google Trends data to demonstrate that Internet users from countries with a higher per capita gross domestic product (GDP) are more likely to search for information about the future than information about the past. The findings, published in the journal Scientific Reports, suggest there may be a link between online behaviour and real-world economic indicators. The authors of the study examined Google search queries made by Internet users in 45 different countries in 2010 and calculated the ratio of the volume of searches for the coming year (‘2011’) to the volume of searches for the previous year (‘2009’), which they call the ‘future orientation index’. They compared the future orientation index to the per capita GDP of each country and found a strong tendency for countries in which Google users enquire more about the future to exhibit a higher GDP. The results hint that there may potentially be a relationship between the economic success of a country and the information-seeking behaviour of its citizens online.
Read more about this topic: Google Trends
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