Real time utilization of analyzed data provides new opportunities for solutions. Collection, combination and modeling capabilities are critical for success and need to develop significantly from current stage. What we would like to do and what we can do might differ when we take in real time as parameter.
Social media will find its role as part of data flow and contact channel. Enormous ammount of data is daily created in social media, which can and most probably will be used commercially at the end of the day.
Opening data sources and developing tools are easing up enrichment of data. Many governmental organizations all over the world are opening their data sets for public use. Good set of available data now is visible in www.data.gov
People like to be experts, it is stated. Thus they want to share their expertice in restaurants, shops or different products among their peer group. This works conveniently for online services seeking relevant content.
It is also said that people like to utilize insight provided by those they trust as part of their purchase decision process, but there is a catch.
Challence 1: What is the motivation of the expert to create evaluations? Does volume go over quality? What is the relationship between expert and the target evaluated? These are not always clearly visible for those utilizing evaluations. Thus evaluator profiles become increasingly important for end user to be able to check relevance of evaluations.
Challence 2: If you want to use evaluations created someone you trust to have judgement, how do you find that among wast ammount of evaluations? Some services offer opportunity to prioritize those who belong to your own social media circles, but you do not neccessarily have an expert among people you know for all purposess. For these situations it would be neat to be able to select evaluations based on your own profile: people with similar values, preferences etc.
When tackling these challences in the back ground there is always the rude fact of small ammount of evaluations or limited capability to filter those. Usually inorder to get relevant and fresh evalauation, categorization of them is not really possible, because of limitted ammount or limitted information of evaluator to base categorization (language, date and stars is quite limited).
People make personal information increasingly available into online services. A study done by Bovitzin shows that 70% of young and 77% over 35 years think that their private information should be kept unavailable. At the very same time over half of these people are willingly providing they private information to online services. Reason for this behaviour seem to be that people believe information exchange as integral part of social media. Interesting to see how this develops as utilization of shared data increases and both positive and negative effects become visible.
Open data provides new bulk source of infromation that can easily lead to new innovative online solutions as barrier of entry is getting lower. Ammount of open data sites is increasing rapidly as governments see increasing utilization beneficial for businesses and thus local economies.
Scoopshot is excellent example of information collection with crowd sourcing. Similar approaches are utlized in review sites, which make their users as content providers. This enables better coverage of online services also in not so dencely populated parts of real wolrd.