Sunday, August 23, 2009

web analytics, a succesful web analytics strategy

Finally! the last blog! I will no longer be required to type about topics chosen by another!

The way I understand web analytics is weird to say the least. I will try to explain what it is not. As I explained in my report traditional web analytics is dead. Traditional web analytics is not helpful in any way. It tells you how many people visit a web site. So? There could be any number of reasons why someone would visit a web site (even if it was just an accident!). All in all keeping a counter on web site hits, views, etc. are not telling of any useful information. All in all traditional web analytics is dead because it is misleading and pretty much useless. Historically, web analytics has referred to on-site visitor measurement. However in recent years this has blurred, mainly because vendors are producing tools that span both categories.

Web analytics in it's contemporary form then is that much more complicated. People actually make money out of doing this analytics for you (which I recommend really for most people out there). Google analytics is a great free website that will inform you when something comes up on a subject of your choice. Personally, I used it to watch for changes in National Basketball Association (NBA), so I could keep watch on trades and other transactions before the coming season.

Web analytics are separated into two kinds. off-site and on-site;

Off-site web analytics refers to web measurement and analysis irrespective of whether you own or maintain a website. It includes the measurement of a web site's potential audience (opportunity), share of voice (visibility), and buzz (comments) that is happening on the Internet as a whole.

On-site web analytics measure a visitor's journey once on your website. This includes its drivers and conversions; for example, which landing pages encourage people to make a purchase. On-site web analytics measures the performance of your website in a commercial context. This data is typically compared against key performance indicators for performance, and used to improve a web site or marketing campaign's audience response.

Some things that make a successful web analytics strategy:

Focus on Customer Centricity, Solve for business questions, and follow the 10/90 rule.

Customer Centricity
Customer centricity refers to the orientation of a company to the needs and behaviours of its customers, rather than internal drivers (such as the quest for short term profit). Depending on your walk of life your website can be tailored to many different markets. To focus on Customer Centricity is to basically give them what they want so that they give you what you want (in most cases that is ultimately money). The main failing of these websites are that most people do not come to by your product or service. Most people come to look for job opportunities, compare prices, etc. By using data mining you may just be able to make it so that your website ideally will convince your customers to buy your stuff. While for the normal person, analyzing this kind of information would prove very difficult. Which, is why I suggest seeking professional help.

Solve for Business Questions
This is very ambiguous because it deals with business questions which in themselves are open ended. What I think this means is to use Business Questions to make yourself better. For me, I would get other people to critique my work (website in this case) and to make suggestions. That is sort of how the business questions work. They're purpose is to help you improve, like constructive criticism. In reality, this is very very very difficult and you may find that you cannot answer some of the questions put in your way. Which like I've been saying seek help!

Follow the 10/90 rule
That is, 10 percent on the tools and 90 percent on the people or the brains of the operation. After all, what is a tool without someone to utilize it? The way I see it is that you can have the best darn equipment in the world and it wouldn't make a bit of difference if you do not have anyone who can use it properly. It is a waste of time and money to get a machine that no one can use (except maybe as a hundred thousand dollar paper weight or something). By having someone who does know how to use a tool completely in and out, you have someone who might even use the tool in unexpected ways, maybe much more than you expected.

All in all I admit, I do not understand much about contemporary web analytics, maybe I am not meant to. After all there are professionals out there for this work (which is why I keep suggesting to seek their help). It's a whole new world out there for business people. A whole new game to play. Web analytics just seem to be the best tool for winning it.

Thursday, July 30, 2009

building an online reputation

What is online reputation?

Online reputation is a factor in any online community where trust is important. It affects a pseudonym rather than a person. Examples include eBay, an auction service which uses a system of customer feedback to publicly rate each member's reputation. Amazon.com has a similar reputation mechanism in place and merchants develop their reputations across different dimension. One study found that a good reputation added 7.6% to the price received. In addition, building and maintaining a good reputation can be a significant motivation for contributing to online communities. See Motivations for contributing to online communities for more information.To begin developing an online reputation, consider how your personal or company brand should be perceived. What is your brand identity / what is your value proposition / selling point / unique voice? Once you have developed the image you would like your constituencies to perceive, develop a strategy to build your brand. Are you seeking credibility in the marketplace (consider blogging, answering questions on LinkedIn), gain market leadership (create innovative tools for your industry) or connection (build a network of contacts in professional and/or social sites).Another way to look at online reputation is how well its being managed. This form of reputation is usually called web reputation to distinguish it from the online reputation.Indeed, Web reputation does not concern the virtual on-line reputation only, but the whole real reputation of a person or a company as it is affected by the Web. Nearly seven out of 10 global business executives see their reputations online as vulnerable. An online reputation is the perception that one has on the Internet based on their digital footprint. Digital footprints accumulate through all of the content shared, feedback provided and information that created online. People aspire to have a positive online reputation. If someone has a bad online reputation, he can easily change his pseudonym. This is why new accounts on ebay or amazon are usually untrusted. If a person or a company want to manage his web reputation, he will have many more difficulties. This is why a merchant on the web having a physical shop (with real name, real address) is usually more trusted.

http://en.wikipedia.org/wiki/Online_reputation#Online_Reputation

Wikipedia explains it pretty well and I see no need to paraphrase it since I will demonstrate that I understand the topic later in this blog, and if I didn't oh well.

That is online reputation

How do I build it?

As it says in the definition you need "TRUST".

That is to become trustworthy. As the students reiterated several times in different words, you have to be radically transparent. By being transparent, you can become trustworthy. What happens if you are not trustworthy you may ask? Then people will not listen to you and therefore you will not be able to build up an online reputation.

How can one become trustworthy?

Simply put, you have to invest effort into it. ALOT of effort. Put an effort into what and how you post, type, etc. Part of being radically transparent is also to be honest, so one always has to present their best self. As shallow as it sounds you have to at least ACT as a very respectable person to get people to consider listening to you. Make sure everything is easy to read and organized. At the very least use spell checker and allow spaces between paragraphs so you are not posting a big wall of text that is very difficult to read. Use the proper size and fonts, using wingdings or size 1 is not helping people notice you.

Following the surface things, appearance and whatnot. You also need substance. Now that you have gotten people's attention one way or the other you have to now keep their interest with the substance of whatever you discuss in your blog or whatever site you are building your reputation on. Some ways you can do this are; Discuss interesting and relevant topics, be spontaneous, use many visuals to support yourself.



As you build yourself and maintain your current level you will get to know more and more people inevitably. Assuming you have done well up to this point, since we are dealing with online reputation people are a part of the equation. as you get to know more people your reputation will spread to the people they know to the people they know and so on.

I have been going on and on about how and what you should be doing but I neglected to say where. Visit relevant sites to your goal. For example if you want to gain reputation as an expert in Basketball, visit sites related to NBA, Euroleague and other Basketball related topics. Visit forums and be active in them. All the while maintaining a steady radical transparency.

Online reputation is the fad these days and many people will if not now, later, depend on it for building their reputation. Soon, the old ways of reputation will end. By old reputation I mean by word of mouth or television. As technology continues to progress and improve upon itself, people will need the old ways less and less until it becomes non-existent. By making the most of online reputation as your tool to gain attention, one can accomplish many things.


Friday, July 10, 2009

discovering hidden value through datamining

First off, everything I will blog about will be found here; http://www.thearling.com/text/dmwhite/dmwhite.htm http://www.thearling.com/text/dmtechniques/dmtechniques.htm

Anyway what, this blog is about is HOW we discover hidden value through datamining. Essentially, this refers to how datamining "scours databases for hidden patterns, finding predictive information that experts may miss because it lies outside their expectations". In the last blog everyone (as in the datamin class) talked about what datamin is. In my last post I talked about how datamining could be used by businesses as a tool to make them more efficient. This is what those hidden patterns and other predictive information do. for example, by being very shrewd, a person can predict demand of their product over a series of time and can produce in such a way that will maximize his profit by making the most of that demand. This is where the datamining makes money, by taking in more and more data, a person can then identify trends in the data collected. Seasonal things for example is a trend, for example like winter clothing being "in" during winter season (obviously). But, that is a simple exam people have more trends than that and are a lot less obvious such as fashion trends. In an ideal world, if you had enough data you could make a plan to maximize efficiency and profits in your business. Lets say your Mcdonald's, you could calculate when would be the best time (let's say season) to bring out your promotional foods, like twister fries. Specifically, you could decipher when people will most crave the product using past data to determine trends over several lengths of time.

So far, I've only mentioned a very single minded way of using the data for certain trends such as seasons. The application of datamining covers much more than that however. You could see trends and other predictive data in much larger scales. Such as seeing oh how men will react to your product as opposed to women, how african americans like it compared to asians and many other things. You could then choose to tailor your product to be most attractive to a certain race, sex, age, etc. Having this information will make it that much easier to plan and maximize whatever it is you do for business. The only thing that will be different among business is what their using this tool for. A business that will make some product will probably look at it's appeal to different groups. A business centered on service will look for where they are most wanted, for example, a massage company might want to relocate to a more industrial area where more people will be wanting their services after a hard day's work. An entrepreunership business will be looking for demand and be looking to supply to that place or groups of people to maximize their sales. The entertainment business will be looking for the fans who will be most receptive of whatever brand of entertainment they bring. The sports industry will be looking for mostly the same thing, for example, the NBA only sets up their teams to states in the U.S. where there are the most basketball fans, they have even stated that they might set up internationally if their sport gets more popular there.

This data will deal with mostly statistics. Simply put, a large count of people liking this and that. Arranged in such a way that there are several inferential data such as race, age, gender, sex (as mentioned earlier). Even without a complex program or mechanism that will simply tell you "oh this is the best choice for you". You could simply sort through the data to find which of the groups simply have the largest number of people which like or dislike whatever your selling. Like I said in my previous post; "knowledge is power, guard it well." All this data would be irrelevant if it could be found anywhere (shared on the internet) so in essence, this tool would only be helpful if only you and only you (and your co-workers) knew about it. This is probably one of the reasons there are laws such as patenting.



These days, there are subjects like gametheory, production control, operations management, etc. that deal with the application of the large amounts of data about people and other things. Datamining can be though of as the gathering tool and these subjects I have just mentioned as the application tool. I mention this to strengthen my next point, without datamining those application tools/subjects would have no value whatsoever.



I will end my blog here, with a little summary. How you discover hidden value is the next step in datamining, most of us in the datamin class probably talked about how datamining is a great tool to gathering large amounts of data. The next step is what all that gathering is for, to make inferences from statistical data to make predictions and to see trends. This can then be used as a great application to your business, assuming other people don't have you and your business have you in their own data (by knowing what data you have then taking advantage of that).

Again, "Knowledge is power, guard it well". :P


Friday, June 19, 2009

competitive advantages of IT

In the next post for this blogs which is not a blog (because of several require.. reasons). I must discuss the competitive advantages of IT, Information Technology.

The way I see it is, that information technology improves the efficiency and effectiveness of information distribution, gathering and analysis using technology, specifically; computers and software.

Wiki however describes information technology as:
Information technology (IT), as defined by the Information Technology Association of America (ITAA), is "the study, design, development, implementation, support or management of computer-based information systems, particularly software applications and computer hardware."[1] IT deals with the use of electronic computers and computer software to convert, store, protect, process, transmit, and securely retrieve information. - http://en.wikipedia.org/wiki/Information_technology

It appears to deal with the databases we Business Administration students learned about in Database for Management. The main point of Information technology then is simply to make it that much easier to process large amounts of information. From a business point of view it may have several applications. In production it could automate several tasks and processes making it that much less time consuming. When researching a potential market it could organize and store. In terms of management it can easily provide information from you the manager to whoever you are managing and vice-versa.

Information technology like much technology is also under development and is still in its early stages. It will most likely be redefined in the years to come as more technology is invented or current technology is improved.

In the banking and finance industry, information technology makes it that much easier to keep track of all the accounts that a banker or finance worker must manage. It also makes it easier to edit the information that will constantly be in flux, as the money handled by the bankers and finance people will always be reduced, increased, etc. Money is always in motion.

As for competitive advantages, it is like a machine. With information technology a business or company's processes are that much more efficient. If the business or company in question was a machine, an engine perhaps, then information technology is the oil that makes it function that more smoothly. Depending on the type of business, information technology may play a different role or use. For example, a restaurant may use information technology to keep track of it's inventory making it that much more efficient at restocking or clearing out it's inventory as necessary. The advantage there is that your restaurant may become better known for it's quality of goods giving you an edge over your competitors.

Personally, I think the advantages are short lived at best. In this day and age where such information is readily available more and more due to globalization and the internet. Your competitors assuming they are not extremely ignorant will also acquire and upgrade their information technology until they gain the upper hand. Which in turn, will cause you to upgrade to maintain your lead. So, I believe realistically any advantage that you acquire is only temporary unless you can acquire information technology that is unavailable to your competitors which does not happen too often. So I think, more often than not rather than a competitive advantage, it is a requirement to keep up with the competition.

In Banking and Finance, Information Technology is paramount to your competition. If you could establish reputation of great efficiency especially with dealing with your customers, the better your bank or finance industry will flourish. With up to date and updated information technology, tellers and finance workers can more efficiently (i.e. quickly) recover and update information essential to their job. They can also relay information to each other and other co-workers that much more quickly and efficiently. Information Technology will also provide better security to their databases, which may prove to be a competitive advantage. A Bank or Finance firm known for it's security could easily secure the very rich and upper class market.

You could say that with information technology you will be most ready to adapt to changes in the business world. You would be able to process information that much quicker and be ready to adapt and gain an advantage over your slower competitors.

That said information technology is not a competitive advantage in itself but rather a tool to gain an advantage. Like any tool it all in how you use it. The more creative and effective you are at using information technology, the more advantages you can gain and maximize. Like I have said earlier information technology like most if not all technology is like a ticking clock, constantly moving forward and forward. We would be fools to not be on top of it and make the most of it.

To end I share this quote from the fictional Dawn of War Universe: "Knowledge is Power, Guard it well" - Blood Ravens Proverb

Wednesday, June 10, 2009

1st post

My welcoming blog post doesn't count, this is the 1st blog required of me in my datamin class and it has to be about me so here it goes;

I'm Paolo Augusto Martinez Barcelon, Paolo because that was the christian name given to me at birth, named after Peter and Paul as far as I know. Augusto because that is the first name of my late gradfather Augusto "Barcy" Barcelon with who I also share my nickname, more on that later. Martinez is my mother's maiden name, her former surname before she got married. And lastly Barcelon, my dad's surname since the father's surname is the only one carried over.

My nickname is currently Barcy, Ive had several nicknames but Barcy seems to have stuck. Ive also been called Pao, Pablo, Barce (Bar-ss) among other names. My grandfather was called Barcy, he was pretty famous from what I've heard, I didn't know him very well. He was called one of the magnificent 7 businessmen which sadly I heard t his funeral, I regret only getting to know him and only learning more about him at his funeral.

I'm 22 years old which is older than most students at DLSU-C, because I had a longer gradeschool and highschool than the local students. Not that I'm foreign, but in some ways, I may as well be. I studied in Southridge till grade 7 which was the last before highschool, I'm still awaiting the yearbook. For high school I moved to Brent Mamplasan, which for me is the best school Ive ever been in, I dont say studied because I'm not really known for being "studious". However when I moved to Brent I was deemed to be too young to go to high school at the time and ended up in grade 8 which is another year of middle school as they called it. After graduating I also took a year off of school and took up a course in cooking and an etiquette school at John Robert Powers.

When I finally entered DLSU-C, I had no idea what I wanted to take up (I still don't). I chose Business Management, Engineering , and Communication. Business because from what Ive heard from my father, who has an engineering masters degree, the business tools he learned were more useful than the engineering ones. I choose engineering because that is what my father took up and communication because I imagined that I would be very good at english related subjects because I took up IB high level Literature while in Brent and did well.

lastly, here's our teacher who required this typing; http://monlearning.blogspot.com/
and my current place of suffer.. err studying ; http://www.canlubang.dlsu.edu.ph/

Friday, May 29, 2009

Welcome to my Blog

Since it seems to be required for me to make a blog I may as well start now :P

First off, welcome to my blog though I expect only my classmates to be visiting this blog :P If you are visiting here expect to be subject to my opinion and if you happen to post be subject to my rules and dont expect this blog to make sense in grammar or spelling and maybe even content because after all I am only human.

With that said, on to the subject of today; I'm missing out on an Ulduar raid because of class today, hopefully in the future me and my friends can reschedule that. For those who don't know what I'm typing about, it's a world of warcraft thing, yea I cant be bothered to explain that further.

Cavaliers were able to win yesterday, now down 3-2, still, I hope Magic win tomorrow. Lebron James is great and all but I find him to be full of it and could do with a good dose of humility, handed out by the Magic who are missing all-star Jameer Nelson.

Anyway, will type more later, I ought to be listening more intently on this lecture XD