Tag Archives: Cryptocurrency

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

Industries That Blockchain Will Radically Transform Government

Industries That Blockchain Will Radically Transform Government

25 Industries That Blockchain Will Radically Transform
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:

Government

There is little need to make a case for the need

for decentralized systems in governance. In many parts of the world and, even in America which has long been held as the gold standard for democracy, voting power is manipulated and contorted to favor parties or even certain individuals. Nowhere is the principle of “one individual, one vote” more desired than in political voting systems, where the future of nations and the whole world is shaped.

Democracy Earth has created a peer-to-peer governance protocol for organizations. Budgeting takes place with bitcoins and smart contracts, and only you, the voter, have access to your voter information. Those in power will be held more accountable for their actions through the transparent nature of blockchain ledgers.

Horizon State is oriented towards actual voting for the purposes of governance. The platform allows for immediate recognition of votes at a fraction of the cost of traditional voting systems. The tokens of the platform are used as the ‘gas’ for voting and other services, which includes funding for campaigns.   

Boule is another voting platform that is similar to Democracy Earth and Horizon State in its basic purpose.

Chuck Reynolds


Marketing Dept
Contributor

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

Tips for integrating humans and machines in predictive marketing

Tips for integrating humans and machines in predictive marketing

We live in a marketing world where content and data are king,

but with the data deluge facing us in the enterprise, how do you make sense of it all and access the insights that truly matter? There is a plethora of customer insights buried deep in your data just waiting to be uncovered by analysts and marketers. That data doesn’t only tell us stories about where those customers have been but helps us understand and predict what they’re likely to do next. The trick is accessing the insights in an efficient way and then making those insights actionable for your organization’s teams. However, humans alone can’t do all the heavy lifting. It takes people and machines working together. We need the machine’s analytics power to uncover customer insights and the human’s ingenuity to piece together those insights to make better decisions.

The power of the human brain is needed to take all the information, ask questions about it within the context of the business, and use it to create connections with our customers. As machines are getting smarter, we can make better predictive marketing decisions about audience, messaging, creative, media buying, optimization, and more. While data scientists will continue to use and advance the cognitive analytics capabilities of machines, they’ll continue to supplement the findings and decisions with human intelligence and other innately human abilities like storytelling, empathy, emotion, and creativity.

With predictive marketing, we function as the archaeologists of the data discoveries, interpreting the past and present. Predictive marketing combines artificial intelligence and machine learning technologies, analytics forecasting, segmentation, and automation, together with human creativity, reasoning, and decision-making. Here are some best practices for combining humans and machines to enable marketers to deliver the most personal, relevant experiences possible.

Align your business needs with your analytics

Ask yourself what you hope to achieve with the data and how you’ll define success. It’s critical to determine your objectives, goals, and strategies for your analytics and ensure they’re aligned with your enterprise strategy. If your goals aren’t aligned, you won’t drive change or improve your company’s bottom line.

Have an end goal in sight

If you can’t envision what you want to do with the insights gained from analytics, AI, and machine learning, you’re likely to fail. Using the data, set a clear path for how to use the information gathered to automate decision-making, engage with customers, or change some process or experience. Ensure you’re connecting the output of your machine learning model to the decision and execution points, such as the technology enabling you to target, personalize, test, optimize, and automate content.

Communicate your strategic direction

Get everyone on board, from your executives to your marketing team, so they can build tests to align with key metrics and act to reach business goals. Also, make sure that everyone is aligned when the data suggests a change in strategy.

Determine which analyses and decisions to automate

With predictive marketing, you can automate many processes, such as consolidating multiple data sources, personalizing content, segmenting audiences, and delivering content based on the data. When deciding what to automate, think of the machine as handling the smaller, more tedious tasks while you focus on the big strategic decisions and ways to optimize the experiences you’re delivering.

Establish a data democracy

Eliminate your organizational information silos, connect your data, and curate who can access the information. Customize data sharing so relevant people can access the insights they need to make more informed decisions. This enables everyone to respond to predictions and insights, and develop and adapt campaigns and experiences as needed. Whether it’s forecasting business outcomes, selling products, or creating content, today’s analytics tools are making it easier than ever for everyone to explore data and promptly act.

Encourage creativity and strategic thinking

At all levels of your organization, empower everyone to tell their data-driven stories. Given all the insights coming from big data, it’s easier than ever. Data has the power to spark new ideas and even drive revenue growth. When a company does predictive marketing right, data follows a journey from initial discovery to great customer experiences. With humans and machines working together, we bridge the gap between the massive amounts of data provided by machines and the uniquely human experience. Using both, marketers can tell more meaningful stories, create more personal experiences, and make deeper human connections.

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 Supply Chain Management

Industries That Blockchain Will Radically Transform Supply Chain 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:

Supply Chain Management

The supply chain industry is one fraught with many challenges,

most of which are concerned with curtailing rising costs and efficiently supplying products to retailers and customers. It is valued in the hundreds of billion dollars worldwide and is set to grow as demand increases proportionally with spending power. However, the industry faces several intractable obstacles. Fuel costs are ever on the rise, which makes transportation an increasingly expensive activity. Overproduction of products wastes precious resources like water and electricity, as well as taking up space and eventually becoming harmful waste. It is an industry whose challenges affect our very planet.

Smart contracts offer a potential solution to this problem. Imagine if an industry as significant as the automobile industry utilized a system in which cars would be manufactured only when a fixed number of requests were received.  With smart contracts, it is possible for funds to be locked into a contract, whereupon manufacturers would begin production only after a certain number has been reached. It would eliminate the worry of overestimating demand and resource consumption, and could also eliminate middlemen by directly connecting consumers with  manufacturers.

VeChain and ShipChain are two blockchain projects that want to transform this industry. VeChain aims to establish a business ecosystem that is autonomous and self-circulating. The use of NFC chips to counter theft and fraud has been popular with markets like liquor and tobacco, and they have partnered with China’s National Research Consulting Center (NRCC) to this end. They also show interest in automobiles, retail, agriculture, logistics and food/drugs.

ShipChain is also striving for the same goals with its platform, with its solution of “track and trace” being implemented from end to end on shipping and logistics. This will let small carriers operate independently and shift reliance away from larger, better-financed shipping parties. ShipChain is also incentivizing operators by rewarding them for efficient transport routes and timely deliveries.

Chuck Reynolds


Marketing Dept
Contributor

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