I decide fast final presentation
 

I decide fast final presentation

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  • Insight: domain experts (realtors) are a great source for partnerships and customer acquisition. Because we offer value to each other, they have been added in the value proposition, customer segments, and customer relationships. They help us with customer acquisition and domain knowledge to build specialized templates.
  • Insight: domain experts (realtors) are a great source for partnerships and customer acquisition. Because we offer value to each other, they have been added in the value proposition, customer segments, and customer relationships. They help us with customer acquisition and domain knowledge to build specialized templates.

I decide fast final presentation I decide fast final presentation Presentation Transcript

  • IDecideFast:A web-based system for effectivedecision making for the lay person 186 Customer Interactions 120 Online Surveys
  • IDecideFast: A web-based system for effective decision making for the lay person.Collaboration/Social Networking:Categorized message board posts What do I know?1. Alternatives Useful Information What consequences2. Uncertainties What are my choices? Clear do I care about? Creative3. Trade-offs Alternatives Elements of Values A Good4. Pros/Cons Decision Helpful Sound Frame Reasoning What is it that Am I thinking I am deciding? straight about this? Commitment to Follow Through Will I really take action? RecommendationCategorized Chat DecisionsClasses, Vacation, Major Purchases, … Decision Analysis Models AlgorithmsSpecific Solutions (Templates) fromBidding, Vacation, Health Care, ... Prior NSF Awards
  • BiddingPalA web-based system for decision support in auctions and real estate
  • BiddingPal Team• Ali Abbas – PhD in decision analysis, Stanford University – Extensive practice, research, and teaching of decision analysis – Derived models for the bidding templates, coordinated with customers, and oversees the overall vision.• Andrea Hupman – Ph.D. candidate at the University of Illinois. – M.S. degree in Systems and Enterprise Engineering . – Coordinates outreach and contact with partners.• Sean Jordan – Studied at the University of Illinois. – Full-time programmer with extensive programming experience. – Implemented the code for BiddingPal.
  • So Here’s What We Did (initially)• Reached out to… – Decision analysis software companies – Decision analysis society members/experts – Entrepreneurs – Friends – College students• Online Surveys• Onsite visits to potential partners
  • What We Learned (Value/Outreach)• Start with a specific solution (template) – Focus on problem/solution Web-based decision support for online and real estate bidding – Build on Core competence • Decision theoretic models • Web-based programming expertise
  • IDecideFast (1st Version) Traffic Build/Operate/ Rapid Decision Maintain Online Bulletin Users – Generators Feedback Automated College Students Customer Social Networking Service Student/ Acquisition Template Users Professional Collaborative Expanding Templates Advertising Associations Decision Making Companies Modelers/ Detailed Solutions Template/ for Select ProblemsDomain Experts Algorithms (Templates) Internet Software Developer MKTing/Sales/Admin PeopleSoftware Development Gathering Data Advertisement Hosting/Infrastructure for Templates Template FeesIncentives (initial customer acquisition) Coupons Survey Costs
  • IDecideFast (Many Iterations) Collaborative DM Student/ Social Networking Online Professional Build/Operate/ Automated Bulletin Users – Associations Maintain Rapid Decision Feedback Service College Students Detailed Solutions Traffic Customer for Select Problems Personal Generators Acquisition (Templates) relationships with Template Users Expanding Templates partners Template/ Separate Domain Experts Premium Bidders in Models Online Modelers/ Auctions Algorithms Free model Own Website Bidders in Traffic drivers: Increases comfort in BiddingPal.Com Real Estate1. Bidding websites Software determining bid and e.g. Ibid Developer willingness to2. Decision software Intermediaries (e.g. participate Advertising firms. Mobile app stores). MKTing/Sales/Admin Companies Eyeball access for Ad companies Software Development Ads for the free People online auction Hosting/Infrastructure Template Fees bidding tool Incentives (initial customer acquisition) Coupons Survey/questionnaire costs for templates
  • BiddingPal Business Model Traffic drivers: Online Build/Operate/ Automated1. Bidding websites Free model Ibid, webidz, ubid Maintain Service for Bidders in online Increases comfort2. Snipers in online bidding bidders Auctions3. Realtors Customer Personal Acquisition and willingness to (Champaign relationships with Realtor participate Bidders in Real Expanding partners Estate Association) Templates Premium models Advertising reduce costs of Companies Modelers/ consultants Own Website Algorithms BiddingPal.Com Software Eyeball access for Intermediaries Developers Ad companies (e.g. And Domain Mobile app stores). MKTing/Sales Experts Ads for the Software Development Template fee People free online auction from premium Hosting/Infrastructure models e.g. bidding tool Sales/Customer acquisition real estate
  • What We Did: (Tested Hypothesis / Reach Out to Potential Partners)Test Hypotheses: – Are customers willing to pay for decision support in bidding? Real estate offering/haggling? – Would a free bidding app increase participation in online auctions to make us attractive for bidding sites/partners? – Would online bidding sites be interested in partnering? – How much value is BiddingPal adding to IDecideFast?
  • What We Did: (Tested Hypothesis / Reach Out to Potential Partners)• Reach out to… – Real estate contacts , bidding web sites, – Entrepreneurs, former executives of bidding firms – Bidding Customers: Interviews/face-to-face Surveys• Onsite visits to partners• Online surveys
  • What We Learned - 1 (partners)• Better understanding of partners – Need to start with “smaller” partners for whom we have a compelling value proposition – We identified two “real” partners for customer acquisition – IBid – Champaign County Realtor Association • Sniping sites find value in our product
  • What We Learned - 2 (customers)• Better understanding of customers • Customers are willing to pay $10 for help in real estate haggling/bidding • BiddingPal will increase participation in online auctions – an attraction to potential partners • Need more videos/ tutorials. Make it simple! • Customer would like access through web site and mobile devices.
  • What We Learned - 3 (product/outreach)• Better outreach to firms – Leveraged media exposure ( I-Corps, NSF) – Leveraged UIUC prestige• Specific model development – Not generic research – Partners will provide data/ specific domain knowledge – While the theory is developed, some of the non- generic templates will require more work (ongoing).
  • www.BiddingPal.Com
  • Online Bidding Template: Market Size • Ad revenue of $2/user/year • eBay has 100 M active users worldwide Total ServedAvailable Available • $2 M Target market implies 1 Market Market Target $200 M $100 M M users Market $2 M • Current partner (Ibid) has over 50,000 active users and growing*www.onlinemarketing-trends.com: “Average revenue per user in social networks set to rise.”
  • Housing Template: Market Size • Number of homes sold per month in the U.S. is approximately 1% of Total ServedAvailable Available population, i.e. 300,000 Market Market Target $36 M $18 M Market • 10% of total market $3.6 M • Revenue/template $10 (Verified) • Revenue = 3.6 Million/yr
  • Bidding Templates Under Construction• Wine• Fine arts• Oilfield bidding• Radio Frequency
  • What’s NextNext Three MonthsUgprades to BiddingPal.ComContinue focus on our two existing partners Ibid Champaign County Realtor AssociationDevelop two more partnerships: Priceline??Expanding real estate connections in ChicagoStart Collaborative Decision Making PortionSix MonthsDevelop two more templatesMarketing/Customer AcquisitionCollaborative Decision MakingOne YearSBIR Phase 1 Proposal
  • IDecideFast-Market Size 5 Million from bidding templates alone. $100 Million/yr Target100Million 50 Million Market users users 40 Million users Google: 128 Million Users 28 Billion Dollars in Ad Revenue/yr
  • IDecideFast (1st Version) Traffic Build/Operate/ Rapid Decision Maintain Online Bulletin Users – Generators Feedback Automated College Students Customer Social Networking Service Student/ Acquisition Template Users Professional Expanding Collaborative Associations Templates Decision Making Advertising Companies Detailed Solutions Template/ Modelers/ for SelectDomain Experts Algorithms Problems Internet (Templates) Software Developer MKTing/Sales/Admi n People Software Gathering Development Data for Advertisement Hosting/Infrastructure Template Fees Templates Incentives (initial customer Survey Coupons acquisition) Costs
  • IDecideFast (1st Iteration) Build/Operate/ Traffic Maintain Rapid Decision Online Generators Feedback Automated Bulletin Users – Customer Service College Students Acquisition Social Networking Student/ Expanding Professional Collaborative Templates Advertising Associations Decision Making Companies Detailed Solutions Modelers/ for Select Template/ Algorithms Problems Internet Template UsersDomain Experts (Templates) Software Developer MKTing/Sales/Admi n Software Development People Advertisement Hosting/Infrastructure Template Fees Incentives (initial customer acquisition) Coupons Survey/questionnaire costs for templates Gathering data for templates
  • IDecideFast (2nd Version) Build/Operate/ Traffic Maintain Rapid Decision Online Advertising Generators Feedback Automated Companies Customer Service Acquisition Detailed Solutions Template/ for Select Template UsersDomain Experts Expanding Problems Templates (Templates) Modelers/ Algorithms Internet Software Developer MKTing/Sales/Admi n Software Development People Advertisement Hosting/Infrastructure Template Fees Incentives (initial customer acquisition) Coupons
  • IDecideFast (2nd IterationBiddingPal) Build/Operate/ Rapid Decision Traffic Maintain Feedback Advertising Detailed Solutions Online Generators for Select Automated Companies Customer Service Problems Acquisition (Templates) Template Users Template/ Expanding Domain Experts Templates Separate Premium Models Bidders in Modelers/ Online Traffic drivers: Algorithms Free model Web Auctions1. Bidding Increases comfort 1. BiddingPal.Com websites e.g. Software in determining bid 2. Intermediaries Bidders in Ibid Developer e.g. AppleStore Real and willingness to2. Decision Estate participate software firms. MKTing/Sales/Admi n Eyeball access for Ad companies Advertisement Software Development Template fee People for the free online from more auction bidding Hosting/Infrastructure sophisticated tool models e.g. Incentives (initial customer acquisition) Coupons real estate
  • BiddingPal (3rd Version) Build/Operate/ Online Maintain Free model Automated Traffic drivers: Service for1. Bidding Increases comfort websites e.g. Customer in determining bid bidders Ibid Acquisition and willingness to Bidders in Online2. Decision participate Auctions: software firms. Expanding 1. Traditional eBay Auction Templates 2. Best Offer eBay 3. Three offers – eBay Separate Premium 4. Name your own price - Models Priceline Modelers/ Web Bidders in Real Algorithms 1. BiddingPal.Com Estate: 2. Intermediaries Software Eyeball access for 1. Best Offer Real Estate. e.g. AppleStore 2. Haggling – Real Estate. Developers Ad companies Advertising MKTing/Sales/Adm Companies in Template fee Software Development Ads for the People from more free online Hosting/Infrastructure sophisticated auction models e.g. Sales/initial customer acquisition bidding tool real estate
  • BiddingPal (3rd Iteration) Build/Operate/ Online Traffic drivers: Maintain Automated1. Bidding websites Bidders in online Free model Service for e.g. Ibid Auctions: Customer Increases comfort bidders 1. Traditional eBay Auction2. Decision software Personal Acquisition in determining bid 2. Best Offer eBay firms. relationships with 3. Three offers – eBay and willingness to3. Realtors Expanding domain experts 4. Name your own price - participate Priceline (domain Templatesexperts) Bidders in Real Modelers/ Estate: Separate Premium Web 1. Best Offer Real Estate. Algorithms Models 2. Haggling – Real Estate. 1. BiddingPal.Com 2. Intermediaries Software e.g. AppleStore Developers Eyeball access for Advertising Ad companies Companies MKTing/Sales/Adm And Domain And Domain in Experts Experts Template fee Software Development Ads for the People from more free online Hosting/Infrastructure sophisticated auction models e.g. Sales/initial customer acquisition bidding tool real estate
  • BiddingPal (4th Version) Online Expanding Traffic drivers: Free model Automated1. Bidding websites Bidding Increases comfort Service for e.g. Ibid Templates in determining bid bidders2. Decision software Customer Personal Bidders in online firms. and willingness to Acquisition participate relationships with Auctions:3. Realtors domain experts 1. Traditional eBay Auction (domain 2. Best Offer eBay 3. Three offers – eBayexperts) 4. Name your own price - Priceline Modelers/ Separate Premium Models Web Bidders in Real Algorithms 1. BiddingPal.Com Estate: 2. Intermediaries 1. Best Offer Real Estate. Software e.g. AppleStore 2. Haggling – Real Estate. Developers Eyeball access for Advertising Ad companies Companies MKTing/Sales/Adm And Domain And Domain in Experts Experts Template fee Software Development Ads for the People from more free online Hosting/Infrastructure sophisticated auction models e.g. Sales/initial customer acquisition bidding tool real estate
  • BiddingPal (4th Iteration) Traffic drivers:1. Bidding websites Online Expanding Ibid, webidz, ubi Free model Automated Bidding d Increases comfort Service for Templates2. Decision software in determining bid bidders firms. Customer and willingness to Personal Bidders in online3. Snipers Acquisition participate relationships with Auctions: 1. Traditional eBay Auction4. Realtors domain experts 2. Best Offer eBay (Champaign 3. Three offers – eBay Separate Premium Realtor 4. Name your own price - Association) Models Priceline (domain experts) Modelers/ Web Bidders in Real Algorithms 1. BiddingPal.Com Estate: 2. Intermediaries 1. Best Offer Real Estate. Software e.g. AppleStore 2. Haggling – Real Estate. Developers Eyeball access for Advertising Ad companies Companies MKTing/Sales/Adm And Domain And Domain in Experts Experts Template fee Software Development Ads for the People from more free online Hosting/Infrastructure sophisticated auction models e.g. Sales/initial customer acquisition bidding tool real estate
  • BiddingPal (5th Version) Traffic drivers:1. Bidding websites Online Expanding Ibid, webidz, ubi Free model Automated Bidding d Increases comfort Service for Templates2. Decision software in determining bid bidders firms. Customer and willingness to Personal Bidders in online3. Snipers Acquisition participate relationships with Auctions: 1. Traditional eBay Auction4. Realtors domain experts 2. Best Offer eBay (Champaign 3. Three offers – eBay Separate Premium Realtor 4. Name your own price - Association) Models Priceline (domain experts) Modelers/ Web Bidders in Real Algorithms 1. BiddingPal.Com Estate: 2. Intermediaries 1. Best Offer Real Estate. Software e.g. AppleStore 2. Haggling – Real Estate. Developers Eyeball access for Advertising Ad companies Companies MKTing/Sales/Adm And Domain And Domain in Experts Experts Template fee Software Development Ads for the People from more free online Hosting/Infrastructure sophisticated auction models e.g. Sales/initial customer acquisition bidding tool real estate