We value our friends, whether it be their opinions, ideas, advice, praises, critiques, questions, and answers. We trust them, we confide in them, we open up to them, and we don't put on a mask around them. Our friends know us better than anyone else...and social media is capitalizing on this.
I read this really interesting article in the New York Times this week about how online companies are turning to social networking sites to now target their customers- through their friends. For example, when you log-on to your Amazon account, you can now log-on to Facebook and Amazon will display YOUR friend's favorite books, movies, tv shows, and any other interests. So, while Amazon will still recommend to you, they are paying attention to what your friends like...because you are.
Another example. A social networking site called Loopt, which has about 3.4 million users, now shows its users the kinds of restaurants YOUR friends like. Online companies will maximize on this...if your friends like it, more than likely, you'll like it too.
Twitter now polls what kind of hotels and airlines you and your friends use and lets you see the results....hotel and airline companies are rushing to these sites instead of "counting clicks" from online advertisement. The customer freely gives and takes this information...so these companies know the data valid.
I loved this quote from the article: “People are likely to find what your friends are saying about the iPhone 4 or a Chinese restaurant more helpful in a Web search,” said Matt Cutts, a software engineer who oversees search quality at Google.
Companies are capitalizing on the trust you place in your friends. Is it invasive? Another step closer to minimizing any privacy you may have? Or is it an absolutely brilliant business strategy? I would love to know your thoughts!
Here is the article, just in case the link didn't work for you: (http://www.nytimes.com/2010/09/13/technology/13search.html?_r=1&ref=technology)
Monday, September 13, 2010
Sunday, September 5, 2010
Clouds, Mashups, and Web 3.0- The future of Business Processes
This week, our IS class dove in to this idea of business processes, which is basically all the hard work the IT department does for a firm to achieve a specified business outcome. This idea that technology achieves these tasks is actually a thing of the past. In fact, IT functions are shifting to a list of processes to achieve the goals of a firm. In order for a company to be a "blackbelt" in this business processes and in the way that it redesigns the way it conducts business, it must employ six sigma criterion, such as design, analyze, and control, to truly be successful in achieving its goals.
The process controls the type of technology. And this technology is every changing, as discussed in Dr. Schwartz's blog and lecture this week. In his lecture, he mentioned three processes and technologies that are currently trending and reshaping how a firm conducts its business processes. The one commonality that I found in these three processes is that it places control in the hands of the user, future enforcing the demand-pull theory.
First is cloud computing, which is simply using the Internet to move data in novel ways. Again, this places the control in the hands of the consumer. Cloud computing is demand-push. To truly get a grasp of cloud computing, I found this article, published in mid-July of this year.
Second is mash ups, which correlates with cloud computing. I ventured to www.programmableweb.com to check out this new business process trend. It appears the most popular mashup tags are mapping, photos, and shopping. It, again, allows the consumer to customer to control the content and manner in which they place data on the web. The consumer is in control of the operating system.
Lastly, Dr. Schwartz mentioned Web 3.0. Currently, we are in the Web 2.0 stage, which is basically user-driven content, like social media networking like Twitter and Facebook. The future of the Internet, Web 3.0, will take that user-driven content a step further and allow the consumer to control not only what the publish, but how it is delivered across the wire. This YouTube (an example of Web 2.0, user-driven content in and of itself) video gives a graphic depiction of the evolution of the web.
That's all for this week. The future of business process...it's all in YOUR hands.
The process controls the type of technology. And this technology is every changing, as discussed in Dr. Schwartz's blog and lecture this week. In his lecture, he mentioned three processes and technologies that are currently trending and reshaping how a firm conducts its business processes. The one commonality that I found in these three processes is that it places control in the hands of the user, future enforcing the demand-pull theory.
First is cloud computing, which is simply using the Internet to move data in novel ways. Again, this places the control in the hands of the consumer. Cloud computing is demand-push. To truly get a grasp of cloud computing, I found this article, published in mid-July of this year.
Second is mash ups, which correlates with cloud computing. I ventured to www.programmableweb.com to check out this new business process trend. It appears the most popular mashup tags are mapping, photos, and shopping. It, again, allows the consumer to customer to control the content and manner in which they place data on the web. The consumer is in control of the operating system.
Lastly, Dr. Schwartz mentioned Web 3.0. Currently, we are in the Web 2.0 stage, which is basically user-driven content, like social media networking like Twitter and Facebook. The future of the Internet, Web 3.0, will take that user-driven content a step further and allow the consumer to control not only what the publish, but how it is delivered across the wire. This YouTube (an example of Web 2.0, user-driven content in and of itself) video gives a graphic depiction of the evolution of the web.
That's all for this week. The future of business process...it's all in YOUR hands.
Wednesday, September 1, 2010
Finding and keeping the right focus
Last week, I completed my first official week of graduate school...and survived. My take away from the whirlwind of a week? I will certainly have my hands full, but the work load has a purpose...to make me a better manager. A better manager of time, manager of priorities, and a manger of my school work. All of this requires...the right focus. Focus, therefore, will be my theme for fall 2010. And not just focus, but the right focus.
Going on day eight of graduate school, I've realized this is ironically an ongoing theme of focus in IS businesses, especially those that research to improve customer satisfaction. For any business to build momentum and maintain strength, finding and then keeping the right focus is all about knowing the business purpose behind each resource intensive effort. After reading this article, I have found companies like Harrah’s find its focus by seeing the elements of it's company relative to the whole. Harrah's identifies its purpose and then select the right tools to fit its business strategy. This maximizes competitive advantage for almost any company.
Companies must devote their resources to one successful formula that fits their business strategy best. Harrah's researched and identified their customer that yielded the most profit and honed in on retaining the loyalty of that particular customer. While requiring complex and meticulous research, Harrah's set and maintained its focus, increasing profits and customer satisfaction. In a Babson Executive Education article, it argues companies are shifting analytical focus on customers, "assessing the likelihood of customer attribution, or identifying sources of problems for customers." The article then goes on to say companies can broaden its focus beyond the narrow, but in the same sense they are careful not to become "too diffuse in their analytical targeting so that they continue to support their primary strategies."
While information systems and technology are rapidly changing virtually every aspect of a business, that business must maintain focus, the right focus, on its business strategy.
Going on day eight of graduate school, I've realized this is ironically an ongoing theme of focus in IS businesses, especially those that research to improve customer satisfaction. For any business to build momentum and maintain strength, finding and then keeping the right focus is all about knowing the business purpose behind each resource intensive effort. After reading this article, I have found companies like Harrah’s find its focus by seeing the elements of it's company relative to the whole. Harrah's identifies its purpose and then select the right tools to fit its business strategy. This maximizes competitive advantage for almost any company.
Companies must devote their resources to one successful formula that fits their business strategy best. Harrah's researched and identified their customer that yielded the most profit and honed in on retaining the loyalty of that particular customer. While requiring complex and meticulous research, Harrah's set and maintained its focus, increasing profits and customer satisfaction. In a Babson Executive Education article, it argues companies are shifting analytical focus on customers, "assessing the likelihood of customer attribution, or identifying sources of problems for customers." The article then goes on to say companies can broaden its focus beyond the narrow, but in the same sense they are careful not to become "too diffuse in their analytical targeting so that they continue to support their primary strategies."
While information systems and technology are rapidly changing virtually every aspect of a business, that business must maintain focus, the right focus, on its business strategy.
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