2Know Magazine: Sharing KM Knowledge
2Know: Sharing KM Knowledge
September 2014 - Magazine No. 180
September 2014 - Magazine No. 180
Edition:
Written By Ella Antes

No, you're not mistaken. Not just Wisdom of the Crowds, rather the Safe Wisdom of the Crowd.

A book written in 2004 by James Surowiecki explains that in some situations, the Wisdom of the Crowds is larger than that of the expert. According to this principle, the crowd as an entity has intelligence. The larger the group, the larger its collective intelligence grows and even surpasses that of the singular expert.  So, is it safe to say that the crowds are right? Is it safe to rely on the Wisdom of the Crowds? I would think twice before doing so.

 

Surowiecki has thoroughly examined the different factors that undermine the Wisdom of the crowds and some situation from "wise" to "dumb".

 

Apparently, if the crowd is diverse and as such its members hold various opinions there is a higher chance that the Wisdom of the Crowds principle will be relevant. Yet if the members of the crowd are influenced similarly (e.g. by external information or peer pressure) the Wisdom of the Crowds principle becomes less relevant and is harmed.

 

Actually, individuals with independent opinions who are confident in their perception affect the other participants' opinion (some more, some less). This may divert the statistics and the percentage of accuracy of the Wisdom of the Crowds. It is noteworthy to remind that in the original definition of the Wisdom the Crowds these people are neutralized since the process should be conducted in an environment in which three conditions are fulfilled, one of them being unaffected participants.

 

 For further details concerning the Wisdom of the Crowds and the conditions required for its existence, click here.

 

 

In light of all this, how do we implement Safe Wisdom of the Crowds?

Before we allow the participants to voice their opinion/vote, it is recommended to get some information regarding the group's composition: who are the influencers and who are the influenced? Are the people actually diverse and non dependent? This way, we can get a partial conceptualization of the group's composition: confident, less affected, more easily affected etc. Those identified as easily influenced will be ignored when calculating the results thus calculating only the opinions expressed by confident group members.

That's why it's called the Wisdom of the Safe.

 

References:


http://www.technologyreview.com/view/528941/forget-the-wisdom-of-crowds-neurobiologists-reveal-the-wisdom-of-the-confident/

 

 

Written By Ella Antes

No, you're not mistaken. Not just Wisdom of the Crowds, rather the Safe Wisdom of the Crowd.

A book written in 2004 by James Surowiecki explains that in some situations, the Wisdom of the Crowds is larger than that of the expert. According to this principle, the crowd as an entity has intelligence. The larger the group, the larger its collective intelligence grows and even surpasses that of the singular expert.  So, is it safe to say that the crowds are right? Is it safe to rely on the Wisdom of the Crowds? I would think twice before doing so.

 

Surowiecki has thoroughly examined the different factors that undermine the Wisdom of the crowds and some situation from "wise" to "dumb".

 

Apparently, if the crowd is diverse and as such its members hold various opinions there is a higher chance that the Wisdom of the Crowds principle will be relevant. Yet if the members of the crowd are influenced similarly (e.g. by external information or peer pressure) the Wisdom of the Crowds principle becomes less relevant and is harmed.

 

Actually, individuals with independent opinions who are confident in their perception affect the other participants' opinion (some more, some less). This may divert the statistics and the percentage of accuracy of the Wisdom of the Crowds. It is noteworthy to remind that in the original definition of the Wisdom the Crowds these people are neutralized since the process should be conducted in an environment in which three conditions are fulfilled, one of them being unaffected participants.

 For further details concerning the Wisdom of the Crowds and the conditions required for its existence, click here.

In light of all this, how do we implement Safe Wisdom of the Crowds?

Before we allow the participants to voice their opinion/vote, it is recommended to get some information regarding the group's composition: who are the influencers and who are the influenced? Are the people actually diverse and non dependent? This way, we can get a partial conceptualization of the group's composition: confident, less affected, more easily affected etc. Those identified as easily influenced will be ignored when calculating the results thus calculating only the opinions expressed by confident group members.

That's why it's called the Safe Wisdom of the Crowd.

 

References:

http://www.technologyreview.com/view/528941/forget-the-wisdom-of-crowds-neurobiologists-reveal-the-wisdom-of-the-confident/

 

Written By Meirav barsadeh

Even if (theoretically) you have the best product or the best service, if you don’t communicate it efficiently there is a big chance you miss out on many deals.

You must first ask yourself:

  • What is my final goal?
  • What is my target audience?
  • From where do the customers come?

Here are 6 tips that can assist you in creating a successful landing page:

 

Short and concise

 

Regardless of what your final goal is, keep your landing pages short and concise. By reducing the load and keeping things short, there is less of a chance that visitors will go elsewhere and a higher chance that they complete the action you desire. Make users focus on what you want them to focus on by utilizing design principles in order to guide towards the process you wish they choose.

 

Relevant

It is important to maintain relevance and consistency of the message you convey in the landing page as well as the website in order to create a positive user experience. A visitor wishes to see the relevant to the search he/she performed. If the page does not fit the user's expectations, he/she will quickly move away from the landing page. The user may possibly search for your site in order to continue the search there, but this is not the likely scenario.

 

 

 

  

 

Attractive titles

A meaningful proclamation or title will undoubtedly catch the attention of a visitor to your landing page. This is the first thing the visitor sees and should be user in order to 'persuade' him to stay. It is recommended to present the uniqueness of your offer in order to inform the visitor about the advantages of your product/service.

Also, you want to inform the visitor about other benefits they can gain by choosing your product or service. If you choose to focus on the properties of the product/service, describe the advantages in comparison to the abilities.

 

 Easily converted

Let's assume a visitor 'arrives' at the landing page, reads the attractive offer and even likes it. You now need to lead the visitor towards fulfilling your goal and request these actions in a clear manner. By using buttons or certain colors, visitors know exactly what you want them to do. It is recommended to limit the number of possibilities or decisions that the visitor must make. For example, if you want the visitor to sign up for a free trial period, clearly tell him/her to "sign up for a free trial". Place this call to action in a noticeable location in the upper section of the page.

 

User Friendly

Create a positive experience regardless of the device the visitor is using. Make your pages Smartphone-friendly and Tablet-friendly, either by creating separate landing pages for different devices or a single landing page that is appropriate for all devices.

 

 

 

 

 

The reality test

After all was said and done, after we created our landing page, it's time to test it. Don't follow the tips blindly: what works for one doesn't work for others. You know your workers best and should therefore constantly follow your landing page through ongoing tests/checkups. These tests will enable you to maximize the landing page's effectiveness and understand what the visitors really focus on.

 

Last small tips- Last but not least

Trust: It is important to gain your visitor's trust. If you received awards or special recommendations, it's recommended to include them in your landing page in order for visitors to see that your product/service is credible.

Video clips: A nice way to feature your services/products. That said, be careful not to distract your visitors from the final goal

Loading speed: Make sure your landing page uploads relatively quickly. As mentioned above, you have limited time to gain the visitors attention and while he/she wait for your page to upload they may simply leave.

 

 

References:


http://www.verticalresponse.com/blog/6-tips-to-creating-an-ideal-landing-page/

 

Written By Anat Bielski

Today's competitive business environment is characterized by clients who demand much and expect highly. This fact requires companies and organizations to make decisions based on the most current information in hand in order to strengthen their relationships with clients, increase profit and maximize their operational efficiency.

When dealing with Real Time Business Intelligence (RTBI), deals flow as they take place into the organizational BI system. Thus, the system is always updated with the organization's most recent status.

RTBI systems provide tactical support for activities and events in real time. Therefore, RTBI is also referred to as "event-driven business intelligence.  In order for the organization to respond in real time, the BI system must respond/alert the organization as they take place (not even a minute later). With RTBI the organization/business can decide on a long term strategy in order to optimize its activity while responding to intelligence regarding events in real time.

For example, a credit card company needs to know about potential situations in which scams can occur. Thus, if the credit card was used to purchase an item in New York and thirty minutes later the same credit card was used for a purchase in Amsterdam, the tactical way to use this information would be to deny this deal confirmation as well as contacting the credit card owner and checking all activities performed with this card.

In the optimal situation in which there is access to immediate data which can be analyzed, organizations can proactively respond to the new information rather than only responding to situations.

Using classic BI tools supports the organization's strategic goals (such as limiting costs, increasing sales) by mining enormous amounts of data in order to produce new knowledge and information on the organization's activities.  Integrating the systems (combining the BI system with the organization's operational system) also addresses the organization's tactical needs since integration allows the systems to respond immediately to events produced by other systems.

Nevertheless, I must point out that this integration has little strategic value as it does not provide a database apt for data mining. Thanks to technological developments. The gap between analytical and operational processing has, with time, been bridged quickly. In the past, it would take several hours to perform complex inquiries regarding data-mining. Nowadays, it is possible to perform inquiries in very short times (sometimes even mere seconds). If possible to use the data-mining systems on the most updated data, the BI's tactical and strategic needs can merge to a synthetic, unified solution.

There are 2 main obstacles for an effective & efficient use of RTBI:

  1. Situations in which the data is unavailable: if the organization reaches a point in which it mainly relies on data from the RTBI-this unavailability can be derived from technical glitches and may even being the organization's activity to a halt. It is therefore critically important to maintain consistent availability.
  2. The value of the data in the system usually decreases as the data becomes outdated-when the users rely on the RTBI to assist them in making tactical decisions, the most updated information is required as well as the quickest response time.

In other words, the organization cannot check what events are occurring in real time if it does not have immediate information regarding the situation. Thus, the organization cannot immediately respond to events if the system which provides these events’ analysis is unavailable.  These malfunctions can be resolved by the use of sophisticated duplication engines.

That said, it is noteworthy to remember that the "real time" approach is not required for the majority of the organization's departments. Most BI users can continue using weekly or monthly data analysis in order to support their business goals (e.g. checking monthly performances, understanding long term trends and comparing different years' activity, comparing predictions and performances).

Since RTBI applications may increase the cost of the organization's BI system, it is important to apply these solutions only when real time data is required. 

 

 

 

Written by Rom Knowledgeware
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