Tag Archives: #blockchain

Industries That Blockchain Will Radically Transform Digital Identity Management

Industries That Blockchain Will Radically Transform Digital Identity Management

The term “cryptocurrency” is a misnomer.
A common misconception, held by many newcomers to the blockchain world, is that the technology’s potential lies solely in the banking and financial industry. In fact, the recent suggestion of the Indian government to rename cryptocurrency as “crypto assets”, and Warren’s Buffett’s belief that Bitcoin is not in any way a currency, are perhaps closer to the true nature of cryptocurrency than the commonly held belief that it is simply digital money.

Cryptocurrencies should not be seen as just money, but as tools. Blockchain technology, which underpins cryptocurrency, has potential in many more forms than just as a medium of exchange and store of value.

The application of this technology to industries as varied as supply chain management, fashion and publishing is a result of the innate flexibility of blockchain. The nature of a platform can be programmed to suit a variety of needs. The sooner an investor realizes this, the sooner they will see how exactly it might be applied to different industries, giving them a degree of clarity with can help them measure the potential of a project to disrupt a particular industry. Given the immense potential of blockchain, we take a look at industries, one at a time, that will be upended by its imminent commercial arrival. The shown here is as folows:

Digital Identity Management

Digital storage is now the go-to medium for the storing of data. It’s faster and has less of an impact on the environment. However, it’s not the safest. Numerous cyber attacks have taken place over the years and this has put the valuable personal data of millions of individuals at risk.

Blockchain’s encrypted ledger is the perfect solution to this shortcoming. SelfKey, a blockchain-based identity network, allows users, both individuals and companies, to control and manage their identities. The platform will connect users to utility providers and other requestors of personal data, such as bank accounts, residency, citizenship by investment and passport services. The provision of these services and validation of data will be fueled by the use of the KEY token.

There are several competitors in this space, including Civic and TheKey.

Civic provides multi-factor authentication through its blockchain platform and biometrics. The identity that is stored on your phone can be used to access a variety of services securely, and is shared with a particular entity upon request. Partners of Civic include Jaxx, Lykke, WikiHow, BitGo and TokenMarket, among many others. TheKey also functions in essentially the same way; it has a multi-dimensional authentication tool that securely stores personal data on a blockchain which can be used to access different services.

Chuck Reynolds


Marketing Dept
Contributor

Please click either Link to learn more about Bitcoin.
Interested or have Questions, Call Me, 559-474-4614

Industries That Blockchain Will Radically Transform Messaging

Industries That Blockchain Will Radically Transform Messaging

The term “cryptocurrency” is a misnomer.

A common misconception, held by many newcomers to the blockchain world, is that the technology’s potential lies solely in the banking and financial industry. In fact, the recent suggestion of the Indian government to rename cryptocurrency as “crypto assets”, and Warren’s Buffett’s belief that Bitcoin is not in any way a currency, are perhaps closer to the true nature of cryptocurrency than the commonly held belief that it is simply digital money.

Cryptocurrencies should not be seen as just money, but as tools. Blockchain technology, which underpins cryptocurrency, has potential in many more forms than just as a medium of exchange and store of value.

The application of this technology to industries as varied as supply chain management, fashion and publishing is a result of the innate flexibility of blockchain. The nature of a platform can be programmed to suit a variety of needs. The sooner an investor realizes this, the sooner they will see how exactly it might be applied to different industries, giving them a degree of clarity with can help them measure the potential of a project to disrupt a particular industry. Given the immense potential of blockchain, we take a look at industries, one at a time, that will be upended by its imminent commercial arrival. The shown here is as folows:

Messaging

Encrypted communication channels are already growing in commercial popularity, with Telegram being the most well-known. Now, more communication systems like Slack, Kik and Telegram are conducting ICOs to help establish blockchain platforms. Considering the size of the user base, a lot of money could potentially be raised.  

There are several new entrants in this space that do not have a user base outside the cryptocurrency community. Crypviser is one of these. The Mercury Protocol, built on the Ethereum blockchain, allows integration with communications platform for end-to-end security in communication. While the use of blockchain for these industries is not on the same level of change as the others, it is indicative of blockchain’s rapid adoption.

Chuck Reynolds


Marketing Dept
Contributor

Please click either Link to learn more about Bitcoin.
Interested or have Questions, Call Me, 559-474-4614

The Future Is Digital, but Most Marketers Overlook the Value in Human Connection

The Future Is Digital, but Most Marketers Overlook the Value in Human Connection

84% of consumers trust word-of-mouth recommendations the most

As marketers, we know the oldest, most basic form of brand marketing

is also the most powerful: word of mouth. In spite of highly advanced digital marketing tools, massive amounts of data and infinite ways to connect directly with our audiences, it’s more important than ever for brands to endemically infiltrate the conversations of consumers in 2018. That’s because word of mouth is still the most trusted source of information for consumers who are increasingly suspicious and avoidant of the marketing messages they’re bombarded with day after day. According to Nielsen, 84 percent of consumers reported trusting recommendations from influencers, friends, family members and peer networks above all other kinds of marketing. Tellingly, when it comes to the coveted millennial market, a recent study by the McCarthy Group shows that 84 percent of them don’t like traditional advertising, nor do they trust it.

Given that the fundamentals of marketing rely on building trusting relationships with consumers, today’s marketing landscape is in dire need of transformation. Despite rapidly increased budgets for influencer marketing, the practice isn’t delivering what it was meant to. To regain that consumer attention and confidence, it’s time for marketers to put their faith back in word of mouth. Here are some tips on how to get your brand on the tips of tongues via authentic, trustworthy, person-to-person messaging in an era when digital interactions have too often taken their place.

Understand the value of offline human networks

Digital marketing is an incredible gift to brands of all sizes. It can communicate so much about consumers, including what they want in real time and how they feel about our brand at any particular time. But it’s not a complete replacement for the human networks that have always driven commerce.

What happens online, especially on social media, is often just a pale reflection of what’s happening offline, where real influencers—friends, families and co-workers—are sharing information, showcasing products and offering advice in a much more valuable, tangible way. Marketers often ignore the importance of these interactions because they’re so much harder to measure and report back up the chain. As a result, they move forward with marketing strategies that lean too hard on inauthentic digital relationships, and they end up ignored by consumers themselves.

Incorporate online and offline influencers

There were influencers before the internet, and they are still around today. It’s time to recognize that influencers don’t just exist in the digital space. Social media partnerships are great when the relationship is natural and authentic, but the strategy can’t begin and end there. Brands need to leverage word of mouth by including offline influencers, people of impact and expertise that might not have huge social followings or household name recognition but command strong, influential networks in “real life.” You can measure the value of someone’s impact sphere by understanding how many other influencers could be reached if activated.

For example, let’s take a senior partner at a talent agency with no digital footprint. On a daily basis, she’s interacting with her clients, her business partners, producers, directors and so on. That’s a powerful voice to be associated with. Other people, like activists, entertainment executives, artists and startup founders, have the same offline clout. These kinds of people are respected by their peers, who look to them for expertise and advice. By partnering with people that wield this kind of authentic power offline, brands can build tangible word-of-mouth networks with much more weight than those we see from manufactured relationships with social media stars, many of whom may not have offline influence.

Determine your own system of measurement for word of mouth 

Everyone knows how important word of mouth is for a brand, but it often falls into the background because it’s hard to quantify. When judging the effectiveness of a marketing strategy, it’s much easier to look to Nielsen ratings, media impressions or social media likes to analyze budget effectiveness. Measuring word of mouth has been tricky, if not impossible, until recently.

By rating the value of a relationship based on key factors like breadth of social circle, expertise, authority, thought leadership, social impact and more, brands can development their own system of measurement, turning influence driven by word of mouth into something that can be predicted and later credited for resulting successes. Instead of throwing money at the next hot celebrity and hoping word of mouth is happening on its own, brands need to recognize it as a channel that deserves its own plan, strategy and system of measurement. Only then can brands and marketers be deliberate and, again, authentic in building real influencer relationships. This level of control allows for the same kind of valuable measurement that marketers leverage in all other forms of marketing.

Technology keeps moving forward faster and faster, but humans essentially remain the same at their core. They want to connect on a real level with people they trust. They want advice from those they see as knowledgeable and respected. Whatever form digital marketing takes next, and whatever new platforms emerge, the real human connection is always going to hold its value.

Chuck Reynolds


Marketing Dept
Contributor

Please click either Link to learn more about Marketing.
Interested or have Questions, Call Me, 559-474-4614

Industries That Blockchain Will Radically Transform Blockchain-as-a-Service

Industries That Blockchain Will Radically Transform Blockchain-as-a-Service

The term “cryptocurrency” is a misnomer.

A common misconception, held by many newcomers to the blockchain world, is that the technology’s potential lies solely in the banking and financial industry. In fact, the recent suggestion of the Indian government to rename cryptocurrency as “crypto assets”, and Warren’s Buffett’s belief that Bitcoin is not in any way a currency, are perhaps closer to the true nature of cryptocurrency than the commonly held belief that it is simply digital money.

Cryptocurrencies should not be seen as just money, but as tools. Blockchain technology, which underpins cryptocurrency, has potential in many more forms than just as a medium of exchange and store of value.

The application of this technology to industries as varied as supply chain management, fashion and publishing is a result of the innate flexibility of blockchain. The nature of a platform can be programmed to suit a variety of needs. The sooner an investor realizes this, the sooner they will see how exactly it might be applied to different industries, giving them a degree of clarity with can help them measure the potential of a project to disrupt a particular industry. Given the immense potential of blockchain, we take a look at industries, one at a time, that will be upended by its imminent commercial arrival. The shown here is as folows:

Blockchain-as-a-Service

Software is the backbone of every computing device, from the smartphone to the personal computer. The modular nature of it has helped many a developer create even more software.

Stratis offers end-to-end solutions for software development, making testing and deployment on the blockchain simpler. The project also features an academy where one can learn about development. Essentially, it is a Software-as-a-Service platform that provides blockchain utility to its users. The applications used on the Stratis platforms are coded in C#. The team chose this language as it is popular in business applications and it is easy to maintain. Stratis’ salience lies in its ability to give organizations an accelerated and reliable way of creating a blockchain. This avoids the high cost that would occur if organizations had to develop a blockchain from scratch.

Ardor is another big player in this space. It utilizes the technology of the NXT platform to offer child chains. The project’s parent-child chain architecture will allow businesses to create products on customized blockchains that are secure and lightweight. Transactions can be removed from the child chain once over, to keep the chain free from bloat.  The child chains can run either on Ardor’s own tokens or one of the chain owner’s choice. This child chain supports a variety of features and makes the use of blockchain for a company simple, as opposed to building a blockchain from scratch. For a detailed look at Ardor, read our in-depth article here.

Chuck Reynolds


Marketing Dept
Contributor

Please click either Link to learn more about Bitcoin.
Interested or have Questions, Call Me, 559-474-4614

Industries That Blockchain Will Radically Transform Charity

Industries That Blockchain Will Radically Transform Charity

The term “cryptocurrency” is a misnomer.

A common misconception, held by many newcomers to the blockchain world, is that the technology’s potential lies solely in the banking and financial industry. In fact, the recent suggestion of the Indian government to rename cryptocurrency as “crypto assets”, and Warren’s Buffett’s belief that Bitcoin is not in any way a currency, are perhaps closer to the true nature of cryptocurrency than the commonly held belief that it is simply digital money. Cryptocurrencies should not be seen as just money, but as tools. Blockchain technology, which underpins cryptocurrency, has potential in many more forms than just as a medium of exchange and store of value.

The application of this technology to industries as varied as supply chain management, fashion and publishing is a result of the innate flexibility of blockchain. The nature of a platform can be programmed to suit a variety of needs. The sooner an investor realizes this, the sooner they will see how exactly it might be applied to different industries, giving them a degree of clarity with can help them measure the potential of a project to disrupt a particular industry. Given the immense potential of blockchain, we take a look at industries, one at a time, that will be upended by its imminent commercial arrival. The shown here is as folows:

Charity

Charitable organizations purportedly use the funds they receive to benefit the cause they are supporting. However, in more than a few cases, the money is misspent or outright corruption occurs.  Blockchain’s ability to transparently showcase transactions on its public ledger makes it ideal for use in charities. The public, donating their hard-earned money for a good cause, can see how and where their donations are being spent.

There are several blockchain projects operating in this niche. Alice is a project that aims to help cash-strapped social endeavours through its blockchain-based crowdfunding platform. Giveth is an open-source, Ethereum-based platform that is similar to Alice, but also features a mechanism called LiquidPledging. This is when a donation is made via a delegate. Likewise, AidCoin is another platform that is aiming to make charity donations more transparent and immediate.

Chuck Reynolds


Marketing Dept
Contributor

Please click either Link to learn more about Bitcoin.
Interested or have Questions, Call Me, 559-474-4614

Royal Bank of Scotland CMO David Wheldon: More marketing will go in-house

Royal Bank of Scotland CMO David Wheldon:
More marketing will go in-house

Royal Bank of Scotland will soon run more of its programmatic

advertising internally, according to David Wheldon, the bank’s chief marketing officer. The financial firm is building what Wheldon calls an “in-house studio” that will run parts of its media and advertising alongside its external agencies. Rather than eliminate agencies outright, he wants greater control over parts of the marketing mix that directly affect the business, such as ad tech and data management. Wheldon wants to drive the decisions, rather than agencies, on what supply-side vendors the bank uses and what aggregators it buys data from. Tighter agency contracts alone won’t guarantee that level of control, said Wheldon.

“You can’t crap on about transparency [as a marketer] unless you do something about it,” he told Digiday at British advertiser trade body ISBA’s annual conference in London this week. Wheldon shares how he sees the relationship between RBS and its agencies evolving. Excerpts from his conversation with Digiday appear below, edited and condensed.

Why do you need an agency as you take more control of your media investments?

At the moment, we still need an agency. But I can see a not-too-distant future where we could be doing a lot more programmatic ourselves. We’re building an in-house studio, and the vision for that is to be plug-and-play ready [to make media decisions]. For example, when an interest rate changes, we’re obliged to communicate that to all of our customers, and at the moment, we have to buy media to make it happen. One day, it will [be automated] and have the capability of using our own first-party data.

Why are you trying to in-house and automate as much marketing as you can?

Our future is definitely going to be one of doing much more customer communication directly. We’ll be able to target our own customers more thoughtfully using our data than we can by outsourcing those tasks. We’ll then be left scratching our heads about where we need to spend the money externally. Up until the last few years, we were outsourcing all of that media planning and buying to a media agency. I can see that happening in my role as the president of the World Federation of Advertisers, too. This increasing shift to programmatic is becoming more about the in-house capabilities on the brand side. And as that movement happens, the more tough questions there will be around digital and the more people are going to have to think long and hard about how they run online advertising, especially given the obligations of the General Data Protection Regulation.

How happy are you with the transparency you have into your media agency?

I’ve made it clear to our media agency that I expect them to tell me how and where they make money. I’ve reminded them that if they don’t do that, then RBS has a contract with them that means they can be fired instantaneously. It’s a brutal way of putting it, but it’s going to force transparency because I’ve learned to get very suspicious about where the [bank’s] money is going. It’s not so much about the contract. It’s about asking the right questions. The example I always refer to is [asking about] the percentage my media agency charges when they recommend a media partnership.

Could RBS as an advertiser do more to take responsibility of its investments?

We’re getting better at understanding the people we’re after, as that’s the primary way to reduce wastage. I inherited what some would describe as some very lazy briefing, which would basically say, “We’re a bank with 16 million customers; therefore, our target audience is everyone, so go forth and buy ads.” Are we as efficient as I’d like us to be yet? I don’t think so.

What are you doing to change that?

We’re writing better briefs that are based on our data, which isn’t just our customer data, but our historical data in terms of what has and what hasn’t worked. There’s also the fact that when people come and recommend something to us, we’re asking for data to justify those recommendations. We want to know how those suggestions are going to be measured as well as how will we know whether the idea worked or not. We’re trying to do all that in a way that’s more about test and learn. We were taking recommendations straight from Facebook, for instance, where its representatives would say, “We think you need to do this,” and my team would come back do it. I’d ask why we’d launched whatever was suggested across our entire customer base, when we could’ve done something smaller to test the idea and then learn about it.

With the changing advertiser-agency relationship, what’s the opportunity for consulting firms?

I’m not sure there was ever a bygone era when agencies enjoyed a great relationship with the top of the house, but what the consultants have now is the C-suite relationships, a deep understanding of technology and a deep understanding of the digitization of our services. It’s not too much of a leap for them to think they can help with the advertising part of that mix.

Would you hire a consulting firm to replace an agency as you in-house more media management and advertising?
You always need external people because they bring a freshness and a lack of fear.

Chuck Reynolds


Marketing Dept
Contributor

Please click either Link to learn more about Marketing.
Interested or have Questions, Call Me, 559-474-4614

Industries That Blockchain Will Radically Transform Insurance

Industries That Blockchain Will Radically Transform Insurance


The term “cryptocurrency” is a misnomer.

A common misconception, held by many newcomers to the blockchain world, is that the technology’s potential lies solely in the banking and financial industry. In fact, the recent suggestion of the Indian government to rename cryptocurrency as “crypto assets”, and Warren’s Buffett’s belief that Bitcoin is not in any way a currency, are perhaps closer to the true nature of cryptocurrency than the commonly held belief that it is simply digital money.

Cryptocurrencies should not be seen as just money, but as tools. Blockchain technology, which underpins cryptocurrency, has potential in many more forms than just as a medium of exchange and store of value. The application of this technology to industries as varied as supply chain management, fashion and publishing is a result of the innate flexibility of blockchain. The nature of a platform can be programmed to suit a variety of needs. The sooner an investor realizes this, the sooner they will see how exactly it might be applied to different industries, giving them a degree of clarity with can help them measure the potential of a project to disrupt a particular industry.Given the immense potential of blockchain, we take a look at industries, one at a time, that will be upended by its imminent commercial arrival. The shown here is as folows:Given the immense potential of blockchain, we take a look at industries, one at a time, that will be upended by its imminent commercial arrival. The shown here is as folows:Given the immense potential of blockchain, we take a look at industries, one at a time, that will be upended by its imminent commercial arrival. The shown here is as folows: Given the immense potential of blockchain, we take a look at industries, one at a time, that will be upended by its imminent commercial arrival. The shown here is as folows:

Insurance

Insurance policies are approved through the verification

of the insured party’s data. The approval of insurance and payout of claims are still severe pain points for the industry.

InsureX (IXT) markets itself as an alternative marketplace for insurance. The insurance market has several layers of intermediaries, making approval a frustrating chore. The process is inefficient and lacks ease of communication. InsureX’s goal is to encourage new business models, increase transaction speed and insurance approval, reduce risk through better data access, and improve customer experience.

Etherisc is an insurance platform that puts an emphasis on decentralized applications. They already have a few dapps up and running, including crop insurance, social insurance and flight delay. Crop insurance protects the insured party against drought or flood, social insurance is similar to life insurance and the flight delay dapp issues policies and pay out claims against flight delay delays autonomously. They will host an marketplace for the capitalization of risks and insurance related services. In other words, what other marketplace-based projects are doing for computer resources, dapps and digital identity, Etherisc is doing for insurance.

Machine learning can also be integrated with smart contracts, as it is being done with SafeShare. This project has partnered with Vrumi to protect property owners against damage and theft to their homes caused by tenants registered on the Vrumi platform. SafeShare employs MetroGnoma, an open-source timestamping service, to validate claims in real time.

Chuck Reynolds


Marketing Dept
Contributor

Please click either Link to learn more about Bitcoin.
Interested or have Questions, Call Me, 559-474-4614

Industries That Blockchain Will Radically Transform Cloud Computing/Distributed Computing

Industries That Blockchain Will Radically Transform Cloud Computing/Distributed Computing


The term “cryptocurrency” is a misnomer.

A common misconception, held by many newcomers to the blockchain world, is that the technology’s potential lies solely in the banking and financial industry. In fact, the recent suggestion of the Indian government to rename cryptocurrency as “crypto assets”, and Warren’s Buffett’s belief that Bitcoin is not in any way a currency, are perhaps closer to the true nature of cryptocurrency than the commonly held belief that it is simply digital money.

Cryptocurrencies should not be seen as just money, but as tools. Blockchain technology, which underpins cryptocurrency, has potential in many more forms than just as a medium of exchange and store of value. The application of this technology to industries as varied as supply chain management, fashion and publishing is a result of the innate flexibility of blockchain. The nature of a platform can be programmed to suit a variety of needs. The sooner an investor realizes this, the sooner they will see how exactly it might be applied to different industries, giving them a degree of clarity with can help them measure the potential of a project to disrupt a particular industry.Given the immense potential of blockchain, we take a look at industries, one at a time, that will be upended by its imminent commercial arrival. The shown here is as folows:Given the immense potential of blockchain, we take a look at industries, one at a time, that will be upended by its imminent commercial arrival. The shown here is as folows:Given the immense potential of blockchain, we take a look at industries, one at a time, that will be upended by its imminent commercial arrival. The shown here is as folows: Given the immense potential of blockchain, we take a look at industries, one at a time, that will be upended by its imminent commercial arrival. The shown here is as folows:

Cloud Computing/Distributed Computing

Computing power is quickly becoming a fundamental necessity,

like electricity and the internet. Many of the tasks that we do today, and certainly those in the scientific and entertainment industries, require heavy computation.  The trouble is that it requires resources that are currently only accessible to major corporate powers who have the funds to operate powerful systems. The distributed nature of blockchain changes that, as it lets any user across the world utilize the computing power of ordinary computers to perform computationally-intensive tasks. Golem Network is working on precisely this, letting people rent out idle computing resources like bandwidth and processing power to others who can use it to render CGI and perform scientific calculations.

SONM, or Supercomputer Organized by Network Mining, targets similar goals through similar means. Distributed computing will let users offer their idle computing resources for general purpose computing. SONM also envisions the use cases of video rendering and scientific processes like DNA analysis.

Elastic is another project operating in this space that is worth keeping an eye on. It is an open source P2P platform that works on a proprietary language called ElasticPL. The key difference here is that users are able to model their problems with the programming language This is a particularly significant use case with the potential for global ramifications. In a world where computers are involved in almost every kind of work, it can give less financially privileged entities the power to compete with larger ones.

Chuck Reynolds


Marketing Dept
Contributor

Please click either Link to learn more about Bitcoin.
Interested or have Questions, Call Me, 559-474-4614

 

Data Science Is The Key To Marketing ROI – Here’s How To Nail It

Data Science Is The Key To Marketing ROI – Here's How To Nail It

  • The most powerful data scientists are those who act as bridges between insights and people
  • Data can only be gathered if you have the technology to do so.

Data science can provide the insights marketers need
  provided they learn how to make use of it.

This year alone, the U.S. is projected to absorb a shortfall of 190,000 data scientists — and that’s not even counting the 1.5 million more analysts and leaders needed to make use of the information big data supplies.

This is an especially terrifying prospect in the marketing world, where data science provides the signals that let marketers know their decisions have paid off. “In the end, the analytics won’t tell you the next big creative idea,” Elea Feit, assistant professor of marketing at Drexel University, says. “It will tell you when the next big creative idea is working.” Data scientists can use data points and trends to help strategize content, tweak content to meet demand, and measure the outcomes of the actions taken by marketers. They combine the science of statistical models with the art of creative work to go past the “gut feelings” of the “Mad Men” era and into a space where marketers can not only see a payoff today, but also a payoff tomorrow.

What You Don’t Know Can Hurt You

Having a wealth of knowledge is a huge advantage — until your knowledge surpasses others’ understanding. If people don’t know how to apply a significant piece of information, that data is useless. This is why data science is so essential to the marketing equation. “ The most powerful data scientists are those who act as bridges between insights and people ,” says Kirill Eremenko, the founder and CEO of SuperDataScience, an online educational portal for data scientists and data science enthusiasts. “There’s a science behind analytics; however, communicating insights is an art.” Straddling that line is important because data science insights are connected to marketing results.

Marketing departments are expected to quantify their results as justification for keeping their budgets and strategies intact. Marketers handle digital information within their campaigns and collect it to improve their tactics, increasing the demand for data science. Data science is responsible for mapping social networks and illustrating customer personas. It also identifies demographics and locations, in addition to tracking target audience responses and moods. Data science has enabled companies to customize their customer experiences. It also helps develop new approaches to long-held marketing challenges. “Data is massively complex and comprehensive, which makes it difficult even for experts to understand,” says Eremenko. “Extracting insights is the first step, but the crucial follow-up is finding ways to communicate and contextualize those insights so they’re accessible to all.”

Application As Inspiration

If there’s a shortage of data scientists, what does this mean for marketers? Marketers have to learn how to use data science for their work on a global scale, and they need to position themselves for success, regardless of how accessible data scientists may be on any given day. 91% of senior marketers indicated that customer data was essential to making decisions. Here’s how marketing teams can take advantage of every piece of that data.

Break Down Departmental Silos

Data science can’t take into account data it doesn’t have. Department- or division-wide silos put up barriers where they shouldn’t exist, blocking one department from receiving data from another that could be valuable. How many times have you heard about content marketing teams having to start newsletter subscriber lists from scratch because the sales team wouldn’t share its email lists?

The same idea applies here. Find ways to allow your platforms to integrate and share data; at any rate, build systems to report data from one segment to another. Something seemingly small — such as your company Facebook page’s demographics — could influence not just your social media marketers, but also your SEO team, your affiliate marketers, even your R&D department.

Keep Your Streams of Data Current

Data has to be timely to be actionable — or, at the very least, it needs to include information from the past through the present to highlight patterns and trends. As big data analytics and visualization firm Zoomdata explains, real-time data analytics are the optimal option because they allow marketers to act on information as it’s happening. Streaming analytics, which occur nearly in real time, are a close second.

The focus is on fresh data so your decisions are made based on what’s best for your current market. But context is important, too. Creating entire trails or streams of data will allow your marketing team to see that a product that sold well last winter and dismally this winter may be influenced by bigger factors you’re also tracking, such as economic downturns or a declining audience segment.

Invest in Tools and Technologies, Particularly for Visualization

Data can only be gathered if you have the technology to do so. If you’ve been putting off investing in a data platform because you figure your team can do it manually, or you assume the information will sit in a database never to see the light, think again. Data not only showcases ROI, but it’s also ROI itself — you need numbers to justify numbers. Remember that you’re only as good as the information you have.

Visualization is an especially important tool to have in your data-gathering belt. Dynamic visualizations can simplify complex data and capture numbers in a graphic representation, which will speak more clearly to a wide swath of people. Most importantly, visualizations unlock collaborative opportunities for marketers and data scientists to discuss data together and interpret the data’s meaning for future campaigns and marketing efforts.

While we’re looking at a dearth of data scientists in the near future, that doesn’t diminish the importance of data science for marketing. If anything, it should compel marketers to set their systems up to benefit from data science and empower themselves by learning to broadly analyze data alongside data scientists. What you don’t know can hold you back — and what you do know can drive your company’s ROI.

Chuck Reynolds


Marketing Dept
Contributor

Please click either Link to learn more about Marketing.
Interested or have Questions, Call Me, 559-474-4614

Industries That Blockchain Will Radically Transform the Internet of Things

Industries That Blockchain Will Radically Transform Internet of Things

The term “cryptocurrency” is a misnomer.

A common misconception, held by many newcomers to the blockchain world, is that the technology’s potential lies solely in the banking and financial industry. In fact, the recent suggestion of the Indian government to rename cryptocurrency as “crypto assets”, and Warren’s Buffett’s belief that Bitcoin is not in any way a currency, are perhaps closer to the true nature of cryptocurrency than the commonly held belief that it is simply digital money. Cryptocurrencies should not be seen as just money, but as tools. Blockchain technology, which underpins cryptocurrency, has potential in many more forms than just as a medium of exchange and store of value.

The application of this technology to industries as varied as supply chain management, fashion and publishing is a result of the innate flexibility of blockchain. The nature of a platform can be programmed to suit a variety of needs. The sooner an investor realizes this, the sooner they will see how exactly it might be applied to different industries, giving them a degree of clarity with can help them measure the potential of a project to disrupt a particular industry. Given the immense potential of blockchain, we take a look at industries, one at a time, that will be upended by its imminent commercial arrival. The shown here is as folows:

Internet of Things

Along with blockchain and artificial intelligence,

the Internet of Things is another technological development that is up and coming, with radically transformative effects. Essentially an internet connecting all devices, we are soon to live in a world where our smartphones can “talk” to our fridges and cars. Naturally, such a system is fraught with potential security and transactional problems. The amount of processing that will take place is also unprecedented. Yet again, the brilliance of blockchain technology can answer these problems.

With no central system necessary, blockchain would make this heavy processing much easier to handle while also securing data in an encrypted format. Tokenized mechanisms can monetize transactions between different devices and seamlessly integrate different services. Waltonchain and IOTA (which utilizes Directed Acyclic Graphs, not blockchain) are two of the big names in this niche. Combining RFID technology with blockchain and the Internet of Things to form what they call the “Value Internet of Things”, Waltonchain believes that a new business system will evolve where logistics, manufacturing, retail and infrastructure can share data securely. Because of RFID technology, the system will also feature product traceability and asset ownership.

IOTA is shaping up to be a practical, feasible way for machines to communicate with each other. The best way to describe the project is through a potential scenario: imagine driving a car registered on the IOTA network through a toll booth. As you pass through the toll, the car communicates with the toll and automatically makes the transfer. We live in a world that is increasingly dependent on machines, so you can imagine the potential of a system that automatically executes those dependencies. Hurify is another project in the IoT space that aims to accelerate the growth of the industry. The platform allows developers to find IoT development jobs and improve their skill set more easily. Clients can find the right talent for their IoT projects and lower their overall costs. Samsung and IBM are also working together to this end, on a blockchain initiative called ADEPT.

Chuck Reynolds


Marketing Dept
Contributor

Please click either Link to learn more about Bitcoin.
Interested or have Questions, Call Me, 559-474-4614