Duane Forrester has over 12 years of experience in SEO, having previously run SEO at MSN. He currently speaks at events on SEO topics, runs forums and blogs to provide guidance to webmasters on tools from Bing. He has helped large companies like Disney, GAP, and Walmart optimize their websites.
Social Media and SEO have never been more intertwined than they are today. Not only are social media elements like Tweets and reviews making their way into search results, but Google’s new social search is a clear indicator that social media’s effect on search is going to continue to grow in importance. By aligning your social media campaign with SEO best practices and your optimization strategy, you not only maximize the ROI of your social media program, but you begin to set the foundation for future organic search success.
Digital Public Relations (PR): 46th Anvil Awards BriefingJanette Toral
Presented by Janette Toral last September 7, 2010 at the Public Relations Society of the Philippines forum - "How to Package a Winning Entry in the Anvil". She shared her perspective on Digital PR and how to prepare for the Digital PR Tools - Internet and Mobile category of the awards.
The half-day event took place at the J.Y. Campos Hall B, Unilab Bayanihan Center, Pioneer Street, Mandaluyong City.
Video is quickly becoming an essential element of search engine marketing (SEM), and as technology continues to progress, the method for obtaining search rankings will evolve. Video has the potential to drive traffic and increase brand awareness—but marketers must first develop a clear understanding of how to optimize videos for Search Engines.
Social Media and SEO have never been more intertwined than they are today. Not only are social media elements like Tweets and reviews making their way into search results, but Google’s new social search is a clear indicator that social media’s effect on search is going to continue to grow in importance. By aligning your social media campaign with SEO best practices and your optimization strategy, you not only maximize the ROI of your social media program, but you begin to set the foundation for future organic search success.
Digital Public Relations (PR): 46th Anvil Awards BriefingJanette Toral
Presented by Janette Toral last September 7, 2010 at the Public Relations Society of the Philippines forum - "How to Package a Winning Entry in the Anvil". She shared her perspective on Digital PR and how to prepare for the Digital PR Tools - Internet and Mobile category of the awards.
The half-day event took place at the J.Y. Campos Hall B, Unilab Bayanihan Center, Pioneer Street, Mandaluyong City.
Video is quickly becoming an essential element of search engine marketing (SEM), and as technology continues to progress, the method for obtaining search rankings will evolve. Video has the potential to drive traffic and increase brand awareness—but marketers must first develop a clear understanding of how to optimize videos for Search Engines.
Workshop #1: Introduction to Search Engines
Search engines (Google, Yahoo, etc.) are little hungry monsters that you constantly need to feed with keywords, presented in a logical manner, in order to get their attention! Search engines index Web pages individually. If one of your pages is successful (good positioning) for a given term, this does not mean that all of your website’s pages will fare as well. This workshop will address various techniques to follow in order to be successful with all of your pages. In order to do so, you must first understand how search engines work.
Workshop #2: Your Website’s Architecture
The architecture of a website has a considerable impact on search engine optimization efforts. A poor architecture will limit the number of pages found and indexed by robots, regardless of all the optimization efforts… they will simply be invisible. Robots love, and derive their primary sustenance, from text. The goal of stellar architecture is to provide text in a format that is simple and easy to read by robots. This website is aimed at content creators and will present various aspects of architecture that must be taken into account in order to reach this objective.
Google+ Local is one of the products of the most important Internet companies and is the largest and most used search engine today. It is more visually interesting as it already integrates social interaction between fans/followers/customers and business/company. Having an optimized and verified Google+ Local for your business would mean exposure not only on Google Maps and Google+, but on the SERPs as well.
Facebook Timeline, Ads, Pages....how do you navigate??
At the end of this presentation you will see that Cats & YouTube is your secret to viral success.
Thanks so all the presentation companies in which have provided the content for this presentation on Timeline. I've been inspired by my friend Dave at Likeable. He is truly my hero in this world of social media
Social Studies: Facebook Timeline for BrandsPeriscope
Facebook Timeline for brands goes live on March 30, 2012. Here, the Periscope Community Team presents a how-to guide for getting your brand's Timeline up, running and optimized.
Workshop #1: Introduction to Search Engines
Search engines (Google, Yahoo, etc.) are little hungry monsters that you constantly need to feed with keywords, presented in a logical manner, in order to get their attention! Search engines index Web pages individually. If one of your pages is successful (good positioning) for a given term, this does not mean that all of your website’s pages will fare as well. This workshop will address various techniques to follow in order to be successful with all of your pages. In order to do so, you must first understand how search engines work.
Workshop #2: Your Website’s Architecture
The architecture of a website has a considerable impact on search engine optimization efforts. A poor architecture will limit the number of pages found and indexed by robots, regardless of all the optimization efforts… they will simply be invisible. Robots love, and derive their primary sustenance, from text. The goal of stellar architecture is to provide text in a format that is simple and easy to read by robots. This website is aimed at content creators and will present various aspects of architecture that must be taken into account in order to reach this objective.
Google+ Local is one of the products of the most important Internet companies and is the largest and most used search engine today. It is more visually interesting as it already integrates social interaction between fans/followers/customers and business/company. Having an optimized and verified Google+ Local for your business would mean exposure not only on Google Maps and Google+, but on the SERPs as well.
Facebook Timeline, Ads, Pages....how do you navigate??
At the end of this presentation you will see that Cats & YouTube is your secret to viral success.
Thanks so all the presentation companies in which have provided the content for this presentation on Timeline. I've been inspired by my friend Dave at Likeable. He is truly my hero in this world of social media
Social Studies: Facebook Timeline for BrandsPeriscope
Facebook Timeline for brands goes live on March 30, 2012. Here, the Periscope Community Team presents a how-to guide for getting your brand's Timeline up, running and optimized.
Discover why choosing natural gas makes sense. Learn how you can get connected to natural gas in Ireland.
Natural gas has revolutionised the energy industry, playing an increasingly important role in our world today. In Ireland, natural gas accounts for almost a quarter of primary energy demand; fueling power plants, businesses and homes efficiently, cleanly
and reliably.
Natural gas is the fuel of choice for over 650,000 businesses and homes throughout Ireland. It is currently available in over 160 population centres across 19 counties.
Demand for natural gas has experienced phenomenal growth in recent years, with the number of natural gas users growing by almost 300,000 over the past ten years. More and more people are recognising the benefits of natural gas, in business, at home and, of course, for the environment.
An intro to Holocene/Epocene prototype, demonstrating dozens of patented conversation modes that never appeared anywhere else online, from Facebook to chat to IM to email.
Successful communication can be the factor that “makes or breaks” the interdisciplinary team in the SNF, and is the difference between a workplace you WANT to be in and a workplace you HAVE to be in! The presentation details how effective communication skills, both within your own department and with other departments, can positively affect clinical outcomes and customer satisfaction in the SNF. Learn valuable techniques that will engage staff from all departments and disciplines with the vision of the organization, pulling the team together to work toward a common goal—excellence and the highest level of customer satisfaction. The presentation discusses workplace bullying and demonstrate techniques to eliminate this stressful and team-crushing problem. Key strategies for using the employee annual evaluation as an evidence-based tool for discussion of accomplishments and areas with opportunity for improvement is highlighted. Learn strategies for successfully managing difficult employees and learn how good communication can be the ultimate team-building exercise.
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o al +50254519199
correo: juanloskot@hotmail.com
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En Usfia invierte bien su Dinero!! somos pioneros! Aproveche!
Best New Low Cost Android Tablet POS System; The Clover Station Prineta USA
If you are looking for a new inexpensive yet robust tablet-based POS system for under $1000, you might like the Clover Station the best. Decide for yourself: all the details on the hardware, software, apps, sales positioning, and costs/pricing are included in this overview training presentation. Video demos and additional information available at http://prineta.com/where-and-how-to-buy-the-clover-station-pos-system/. To ask a question or request a formal proposal, email Clover[at]Prineta[dot]com.
Local SEO - Pearl District Business Association - Jan 2013Jessica Ward
Basic presentation for the Pearl District Business Association on the top factors that help a local website to rank well on the Search Engine Results Page (SERPs). Presentation was done on behalf of SEMpdx.org and Amplify-Interactive.com.
Presentation on the basics of local SEO brick & mortar retailers. Covers ranking factors, business listings, NAP business info (name address phone number), using getlisted.org, and Google+ Local
This presentation was given at the 2012 Arizona State Florist Association Conference. It covers using social media an mobile marketing in the florist industry.
A multi-channel approach to effective Internet Marketing. We focus on an integrated approach that produces the highest ROI of any marketing strategy. These case studies illustrate the essentials of keyword research, competitive analysis, website design, search engine optimization, social media marketing and analytics.
The search engine landscape has changed with the convergence of Search and Social. This two hour session looks at what is important today to the search engines and how businesses can best position their content and their social media strategy in an effort to provide value to their audience and increase branding, engagement and targeted traffic from their target audience. Build it and they will come does not apply to Digital Marketing. Beginning with the end in mind this session further discusses how to develop a strategy to drive leads to and through your website in the B2B world.
As the relationship between search and social continues to grow, it’s important for businesses to start taking one integrated approach to online strategy that considers how search and social media can work together to meet overall business objectives. This presentation gives an overview of how search and social media influence one another and also includes a few tactics to consider when taking an integrated approach to online strategy.
SEO for Startups - #StartupSEO.TO by Powered by SearchPowered by Search
Slides from the 1st ever StartupSEO.TO event by Powered by Search.
This meetup is for startups and marketers curious about the building blocks and foundation of proper SEO and Inbound Marketing, come join us for a session where Dev Basu and his team at Powered by Search walks you through a crash course session of the low hanging fruit that you can pick off to get your website generating more traffic, conversions, leads and ultimately more business from search engines for your startup.
Slides Images Credit: SEOMoz & Eliance.
A look at how business will change due to new technologies and expectations of the Millenials. Understand what drives Gen Y's decision making, what technologies will impact how we do business and where things like SEO fit into this future mix.
Brought to you by Microsoft Ventures, this interactive session featured a review of what matters in search and social today, tactics you can implement immediately to help your business move in the right direction, tips and tricks for future plans and a list of useful tools. From SEO 101, to tools and Social media, we covered a lot!
This presentation reviews what main points to focus on in search today, why social matters, how to manage it and tips to get it right, and reviews what to expect in the future. As new technologies change behaviors and expectations, it's critical to know "what's next", and we examine that here.
Deck for SMX London in May 2014 where we talked about SEO for the long term. 5 major areas were covered, with some future ideas to think about as well. Covered: Content, Usability Social, Link Building and SEO.
An SEO 101 review by Duane Forrester of Bing Webmaster Tools. We cover the best practices of technical SEO, onpage SEO and touch on broader topics which affect the success of SEO and a website such as conversion optimization and social media programs.
Exploring the best practices for SEO today, touching on content, technical SEO, social media and winding up with a ton of useful links to tools and services.
The Internet of Things is here. Walk through this presentation and see how today's search is impacted by entities, markup and social media. Understand the basics needed to succeed in this evolving landscape. Learn what to avoid.
Explores the future of search, how mobile and wearables are influencing search and how Bing is adjusting to new consumer expectations. Touches on the new TLDs coming out as well.
2013 Seattle Interactive Conference - Web of ThingsDuane Forrester
Explore the web of things and see how the future of search looks. From social media to psychographics and corporate realignments, the future holds much promise for those able to keep up.
Scared of building links? Wondering if you should, or even how to do it safely? Stop fretting and get creating (content, that is). We review what to focus on and what to avoid in this presentation.
Review of the Web of Things, how social influences search and where search is evolving in the future. We cover entities, actions and showcase a TON of useful tools.
Take a walk through how search and social interact, understand why social influences search and see where we're heading with search in the future. All followed by a ton of cool tools. Gain a better understanding of how and why search is evolving to position your business to succeed.
2. what does duane do at bing
Bing Webmaster Tools
Speaks at shows, runs forums and
blog, provides guidance on new WM
tools
www.bing.com/toolbox/webmaster
Does he have a clue?
12+ years as an inhouse SEO; ran seo at
MSN; has helped Disney, GAP, Walmart +
http://www.linkedin.com/in/dforrester
@duaneforrester And this helps me how?
Blogging since 2001; owns 150 domains;
builds, optimizes and monetizes
https://twitter.com/DuaneForrester
Your data, always fully provided.
5. • Keyword stuffing • SEO software works • Google and MSN Search launch • Google fights spam
all the rage very well for #1 • Word spreads that links help rankings with Florida update;
• SE submissions placements • DMOZ launches and starts directory • First paid link hurts legit sites
help rankings • cloaking makes its movement network appears • Blogging takes off
appearance • Text Link Ads creates
network link buying
• Google Toolbar shows PR –
• Dawn of modern search drives link requests
engines w/Altavista • Google notes the
• Death of SE submissions “sandbox”
• First SEO conference
held: SE Strategies • Link Farms appear
1994 1995 1997 1998 1999 2000 2002 2003 2004
2005 2006 2007 2008 2009 2010 2011 2012 2013
• Social
• XML sitemaps • Google’s “Brand” • Canonical tag • Google launches G+ signals
jointly supported update uses “trust appears • G launches +1, tells continue
by all engines signals” to restack • Caffeine rolls out sites they rank to
SERP around allowing faster better displaying it influence
brands indexing – “real SERPs
time” search is here • Bing partners with
• Nofollow tags appear; • Universal search appears • Tweets integrated Facebook to • Bing expands
PR sculpting follows • Text Link Ads banned by Google showing future of integrate social social inclusion
• G Jagger/BigDaddy • Wikipedia shows the future – social influencing signals into SERPs with
updates seek link spam domain authority through search • rich snippets FB, Twitter, Quora
content depth starting to be used & 4Square
by sites • Rich Snippets
impacting SERPs
Your data, always fully provided. Data credit: gossip.greenlightdigital.com/blog/the-history-and-evolution-of-seo/
6. Where does Social fit in?
Content Social User Experience Link Building SEO
Your data, always fully provided.
7. • Signal of topical authority
• Real-time – engines want fresh
content, fast
• Integrated social signals influence click
actions of searchers
• Social signals remain only a few of
thousands of signals for organic
ranking
How users click on your results can impact rankings and when we show cues like your
Facebook friends with results, click rates can be impacted.
Your data, always fully provided.
8. Search – we're trying to solve…
Your data, always fully provided. ComScore and Microsoft Internal Analysis
9. Moving Beyond Queries to Sessions
Increasing Use for More Complex Tasks
Time Spent on
Sessions by Length Queries Over Time
0-3 mins
>30 mins 9% Exact Repeats
46% 19% Partial
Repeats
3-10 mins 30%
Almost 12%
Almost
50% 50%
of all time spent 10-15 mins
10%
of queries are
searching is on returning to
sessions > 30 minutes previous tasks
New Queries
15-30 mins
51%
23%
Search Sessions are Long and Repetitive…
Your data, always fully provided.
10. A hotel that’s near Bryant Park, since
that’s near my meeting, has reliable air
conditioning, good smelling shampoo
and a shower taller than me. A decent
bar is nice to have. A coffee maker in the
room is critical. I don’t care if it’s
Starwood. Needs to be under
$200/night.
Your data, always fully provided.
14. More than just traces, a collective convo…
http://www.facebook.com/notes/facebook-
engineering/visualizing-
friendships/469716398919
Your data, always fully provided.
16. • Crawlability • Content
– Xml sitemaps – Build based on keyword research
– Navigational structure – Down-level experience enhances discoverability
– Rich media cautions – Keep out of rich media and images
– Graceful degradation – 250 words per page or more
– URL structure – Produce new content frequently
– Robots.txt – Make it unique – don’t reuse content from other
• Site Structure sources
– Links – Content management – using 301s to reclaim value
from retiring content/pages
– URL structure and keyword usage – <LINK> canonical to help engines understand which
– Clean URLs – no extraneous parameters page should be indexed and have value attributed to it
(sessions, tracking, etc.) – 404 error page management to help cleanse old pages
– HTML & XML sitemaps from search engine indexes
– Content hierarchy • Links
– Global navigation – springs form hierarchy planning + – Plan for incoming & outgoing link generation
style of nav (breadcrumb, link lists, etc.)
– Rich media – don’t bury links in Javascript/flash – Internal & external link management
/silverlight/AJAX – Content selection – planning where to link to
• On-Page – Link promotion via social spaces – direct traffic & seo
value
– Head copy – Managing anchor text properly
• Titles – unique, relevant, 60 characters or so long
• Descriptions – unique, relevant, grammatically
– URL structure can help insert keywords where they are
correct, 160 or fewer characters (Google shows up to needed
160 characters) • Social
– Body Copy – Build your community
• H1, H2 and other H tag usage – Interact often
• ALT tag importance & usage – Share useful content
• Keyword usage within the content/text – see “Perfectly
Optimized Page” image – Be consistent and useful
• Anchor text – using target keywords to support other – Grow facebook, twitter, etc.
internal pages
Your data, always fully provided.
17. A Changing “Web of Objects”
Real-Time Firehose People Services
Devices Places/Things Multimedia
Your data, always fully provided.
18. To crawl a URL costs roughly a penny…a little less, in fact
There are over a trillion pages online, from ~ 650 million sites
We need to crawl them all to see if they’re worth indexing
REAL-TIME SOCIAL LOCAL & MOBILE COMMERCE
DEVICES PLATFORMS SERVICES
Your data, always fully provided. 18
20. Reinventing Search Across 3
Dimensions
Information
Architecture
Creation of new
information via social
graph and geospatial
index
Interaction Model
Not just mouse and
keyboard, but also
voice, touch, gesture &
vision
Entry Points
Not just browser, but
devices, services and
social networks
Your data, always fully provided.
21. Search - Evolved
Deliver knowledge by computationally understanding user intent.
“Linda” Query Intent Detection Task Derivation
• Who • Purchase
• Where • Install
“home gym” • Others • Sell
• Semantic • Set fire to
• Research • Impress friends
Content
Services
Media + UX
Real Time
Your data, always fully provided.
24. • Build social followers & fans
organically
• Wall posts/tweets with links
are perceived as more
credible and useful
• Share willingly and freely
• Track results to understand
what engages people
Your data, always fully provided.
25. • Leverage trusted sources
• You can create a
pattern, streamlining
information gathering &
sharing
• Dump ideas that fail to
resonate with followers
• Prove your worth and
people will follow
Your data, always fully provided. image credit: http://mashable.com/2011/01/10/social-content-strategy/
26. • Use hooks to segment (more
in a minute)
• Plenty of niche areas to
explore/exploit – start your
fight where you can dominate
• Choose your voice wisely;
don’t be afraid to express an
informed opinion
• Watch what users respond
to, then amplify along those
lines
Your data, always fully provided.
27. • Be realistic – this is a
business after all
• Set goals and plan your
work
• There are no failures, just
learning opportunities
• Be thoughtful, helpful and
informed
Your data, always fully provided.
28. • So you want more shares for your content, do you?
Try these ideas.
• Create lists: people love to consume content in
list-form. Its quick, easy and simple.
• Use hooks: ego, humor, anger, contrarian – be
careful with them, but when used well, they are
highly effective.
• Participate in communities: when you are
valued member of a community, the community
supports you.
• Share others’ information: people love when
what they share gets shared itself. Share from
trusted sources.
• Ask questions: your followers will love the
interaction and it’ll grow your following as
others engage.
Your data, always fully provided.
From a machine perspective, getting harder to process. From a human perrspective, its harder to make decisions. Social neuroscientists have described this phenom as Decision quicksand where you get sucked into every decision … the amount of choices you have for every decision makes it hard to decide."There was 5 exabytes of information created between the dawn of civilization through 2003, but that much information is now created every 2 days, and the pace is increasing...People aren't ready for the technology revolution that's going to happen to them." - Eric “Squirrel Boy” Schmidt, 2010. An Exabyte is 1 billion gigabytes. Or about 125MM Windows Phone 7s. So the world is creating enough data to fill a WP7 device for every man, woman, and child in the US – every day. Search engine model on links rapoidluy becoming unable to cope/strained/inprecise (scotty picture). Social isnt a fad, it’s a requirement to parse thru these data (need picture of scotty, other types of media (pics, video, etc that arent ‘indexable’ as a link)All about context ->How much data is out there – there is no way to cut thru the clutter for any query. Every query ends up beign as ‘important’ as the next one becauae our brains see a huge number of choices, so we assume they are all equally important. How do we break the tie?----- From:Tren GriffinSent: Friday, April 08, 2011 8:49:54 PM (UTC-08:00) Pacific Time (US & Canada)To:Litebulb - Ideas and Resources (FTE)Subject: Rational InattentionThursday, April 07, 2011 http://economistsview.typepad.com/economistsview/2011/04/rational-inattention.htmlRational InattentionThese models are interesting, but the mathematics underneath them can be challenging (here's a taste):'Rational Inattention' Guides Overloaded Brains, Helps Economists Understand Market Behavior, by AntonellaTutino, Economic Letter, FRB Dallas: Between Internet news sources, social media and email, people are awash in information, most of it accessible at near-zero cost. Yet, humans possess only a finite capacity to process all of it. The average email user, for example, receives dozens of messages per day. The messages can’t all receive equal attention. How carefully does someone read an email from a sibling or friend before crafting a reply? How closely does a person read an email from the boss?Limitations on the ability to process information force people to make choices regarding the subjects to which they pay more or less attention. Economists have long acknowledged the existence of human cognitive capacities, but only in recent years have models embodying such limits known as “rational inattention” found their way into mainstream macroeconomics.Rational inattention models have a broad range of applications. They may reconcile relatively unchanged prices and volatile ones and how the two play out in aggregate demand in the U.S. economy. Moreover, such models can capture salient features of the business cycle, providing a rationale for sharp contractions or slower expansions. Finally, rational inattention models have significant implications for monetary policy. Since the focus of these models revolves around formation of peoples’ expectations, understanding how individuals perceive the economy is instrumental to policymakers’ efforts to achieve output and price stabilization objectives.Rational Inattention: A PrimerOne macroeconomic school of thought—known as rational expectations—assumes that people fully and quickly process all freely available information. By comparison, under rational inattention theory, information is also fully and freely available, but people lack the capability to quickly absorb it all and translate it into decisions. Rational inattention is based on a simple observation: Attention is a scarce resource and, as such, it must be budgeted wisely.[1]A world with overwhelming amounts of facts and data means prioritizing activities, recognizing individual processing limitations and accepting the consequences when acting, even if all information isn’t fully analyzed. Given a physical constraint on the rate at which people can process information—referred to as Shannon’s channel, after Claude Shannon, a Bell Labs researcher who pioneered information theory in the 1940s—people choose how much attention to devote to different subjects so they can maximize their productivity.This seemingly abstract concept has a familiar resonance with day-to-day experience. For instance, the maximum amount of information that somebody can download from a computer at any one moment cannot exceed a number—the transmission rate—provided by the manufacturer. Likewise, a person cannot instantaneously respond to a given email. The amount of time it takes to answer email depends on its content and how much information that person wants to process to produce a sensible reply. The brain, which has limits on its processing abilities, is the channel through which an individual directs information, from the original email to the reply.Incorporating such limits introduces great complexity into economic models. Still, economists are making progress, and results from this new avenue of research can explain several important aspects of macroeconomic performance. For instance, consider the business cycle, the period of activity between booms and busts. Data tell us that in aggregate, output contractions are faster than output growth during a typical cycle. Yet, mainstream models, whose intrinsically symmetric structure tends to make business expansion and contraction roughly equal, cannot account for this characteristic.Rational inattention theory allows richer modeling that does not assume a symmetry of reactions to positive or negative economic shocks—an unanticipated beneficial boost in technology or an unexpected oil price increase doesn’t produce the same pattern of reactions.Moreover, rational inattention models carry far-reaching policy implications. The underlying theory aims to provide a solid structure to study economic expectations as well as the public’s reaction to change. If central banks successfully reconcile the two, they can more effectively communicate strategies and goals, thus achieving policy objectives.Choosing How to ConsumeData show that individuals react more quickly and strongly to loss of wealth than to an enhanced financial condition. The overall economy reduces output in response to a negative shock more rapidly than it boosts production in the presence of positive developments of the same significance.[2] Rational inattention provides a possible reason for such behavior. Individuals choose bits of information according to their interests; risk aversion may induce people to process negative news faster than positive news. As an example, suppose someone reads in the news that interest rates are falling and businesses are cutting budgets. An interest-rate reduction doesn’t generally prompt people to rush to the bank to obtain a loan so they can consume instantaneously. However, news that companies are cutting expenses, possibly including worker pay, might encourage individuals to more readily seek clarification about their job situation and start making savings plans. Such behavioral differences are an example of an asymmetric response to an economic shock involving consumption and income.Rational inattention theory produces both micro- and macroeconomic dynamics—individual decision making and broader aggregate behaviors—observationally distinct from standard models.[3] These attributes have motivated new research into developing models that make sufficiently specific predictions that can be compared with actual data for individual and group actions.[4]Making Labor ChoicesThe relationship between Shannon channel information processing constraints and the human brain’s capacity suggests how rational inattention may be useful for economic modeling. Consider a person who must decide how much to consume and work while facing uncertainty about wages. Choosing the appropriate amounts and kinds of labor and consumption requires paying attention to current and future savings as well as various ways of earning income from one’s work. Information-processing constraints come into play, limiting the number of combinations the person would realistically evaluate. Applying rational inattention to this situation provides a useful framework for how the task will be undertaken.For example, the theory’s predictions are consistent with business cycles and secular trends in the U.S.—consumption is more changeable than the number of hours worked.[5] People are more likely to modify how much they save than the amount of time worked, a behavior corroborated by data.[6] Moreover, a group of such behaviors, which may greatly vary among individuals, can be much less volatile when taken together in the aggregate.Selling Low, Buying HighWhy are items on sale always noticeable at the supermarket, while price increases get much less visibility? Rational inattention models suggest that stores have an interest in attracting the attention of the customer to temporary price cuts to increase demand in the hope that the merchants can maintain consumption when the items go back to full price and the discount fades. Models of price-setting are designed to generate price and wage rigidity—the notion that goods prices and salary are fixed for a long time.Rational inattention not only accomplishes this, but also explains which types of prices are most likely to remain rigid. Moreover, the theory can account for an important feature shared by many grocery store prices: frequent temporary discounting that reverts to a relatively stable price not prone to change outside of the “sale” periods.[7]Consider the price-setting of a monopolistic producer who pays limited attention to demand. Importantly, the price paths drawn from such models are consistent in ways that rational expectation models are not. For example, under rational inattention, producers’ responses to input shocks, such as a supply disruption, are delayed and gradual; prices are rigid through time, and when changes occur, they are significant. Pricing is asymmetric, with sales (low prices) advertised to pique customer interest while diverting attention from price increases.Computational complexity prevents the building of a rational inattention model that could explain a marketplace in pricing equilibrium, the point at which sellers can attract buyers to purchase all that they have produced. However, the literature has produced one example in which both consumers and producers have limited capacity to process information about prices.[8]In that model, sellers produce a range of similar goods and compete perfectly for shares of the market, while consumers decide what bundle of goods to buy and where to shop. An unanticipated technology change affecting producers provides an outside shock. In this model, firms make real profits even if markets are perfectly competitive and prices don’t change for a prolonged period. Mainstream theory predicts that when markets are perfectly competitive, producers can’t charge a high markup without losing customers. Rational inattention models predict that competitive producers, exploiting the limited ability of consumers to process information about pricing, can make larger profits.Brand-name products are a case in point. They are well advertised and, as a result, people may purchase them instead of often cheaper non-brand-name competitors, though the items may be essentially the same with little difference to justify a premium price.Making Policy ChoicesWhether rigid prices and wages occur because of market structure, such as monopolistic competition, or rational inattention has important policy implications. For instance, regulation may address a monopolistic situation, limiting a firm’s market power. Conversely, if rigidities mainly arise from rational inattention, then efforts should be made to more actively communicate the direction of monetary policy.Rational inattention also strongly affects policymakers’ communications strategies. Most obviously, the theory suggests that rationally inattentive people make the most of available information by analyzing those bits that are very relevant to their decisions and disregarding the rest. As a result, the public can make better decisions with better overall outcomes if policymakers are highly transparent about what they do and why.Because rational inattention theory predicts that people pay attention to information according to their needs, people have little incentive to take note of economic bellwethers in times of stability. By contrast, in volatile periods, market participants will allocate more time analyzing current and future macroeconomic indicators. That can result in more changeable behavior, including overreaction to news and policy changes.Rational inattention implies that monetary policy instruments serve a dual role in the economy—as a stabilizing and signaling device. The theory provides a solid framework to study the effects of the policy changes on private sector behavior by taking into account this double duty.An implication of this suggests that in troubled economic times, central bankers must pay closer attention to their message. By contrast, in less stressful periods, difficult policy choices can be made with less likelihood of market overreaction.In email parlance, it’s almost as if an important announcement has been diverted into a spam folder, where it may sit for a long time while attention is given to the daily flow of news and messages. The critical information is there but escapes detection and reaction until much later, if at all.NotesSee “Implications of Rational Inattention,” by Christopher A. Sims, Journal of Monetary Economics, vol. 50, no. 3, 2003, pp. 665–90, and “Rational Inattention: Beyond the Linear-Quadratic Case,” by Christopher A. Sims, American Economic Review, vol. 96, no. 2, 2006, pp. 158–63. See “Some International Evidence on Output-Inflation Tradeoffs,” by Robert E. Lucas Jr., American Economic Review, vol. 63, no. 3, 1973, pp. 326–34. “The Rigidity of Choices: Lifetime Savings Under Information-Processing Constraints,” by AntonellaTutino, Federal Reserve Bank of Dallas, unpublished paper, 2010. “The Empirical Relevance of Rational Inattention,” by AntonellaTutino, Federal Reserve Bank of Dallas, unpublished paper, 2011. See “Intertemporal Substitution in Macroeconomics,” by N. Gregory Mankiw, Julio J. Rotemberg and Lawrence H. Summers, The Quarterly Journal of Economics, vol.100, no.1, 1985, pp. 225–51. See “Rationally Inattentive Macroeconomic Wedges,” by AntonellaTutino, Journal of Economic Dynamics and Control, vol. 35, no. 3, 2011, pp. 344–62. See “Rigid Pricing and Rationally Inattentive Consumer,” by FilipMatejka, CERGE-EI Working Paper Series no. 409, April 2010. “Implications of Rational Inattention on Market Power,” by Fabio Araujo and AntonellaTutino, Federal Reserve Bank of Dallas, unpublished paper, 2010.
From Nouns to Verbs
Industry Landscape Let me start by sharing how the industry landscape is evolving, Important trends that are driving the technology trend and business opportunities. First is real time of the web. Twitter and Facebook are making the web real time. How do you keep track and copy of real time copy? Second is social web. We are witnessing the unfolding of the socialization of the Web where people and the social relationships among people are front and center. In addition to sites and pages, profiles and social graphs become first class citizens of the web. Increasingly, people are using social networks as a main way of interacting with the web. Groupon and Foursquare: Local & Mobile commerce We are digitizing the planet—every road, building—this opens up business opportunities—the business model may not be sustainable but the notion of daily deals is becoming entrenched—this works for businesses with high fixed costs and low marginal costs—they can take advantage of demand curves—for example, if you call a restaurant you can be guaranteed a table in 2mins, but you pay $25, or you can go at an off time and pay less—daily deals allows the business to manage this-imaging the economic opportunity Bing-Google: Two horse RaceThe top of the food chain/tip of the ice berg for consumer interface is always Search—Search is the consumer gateway for people to access information—the industry has consolidate on a global basis, it’s us and our friends over there—we have a fantastic opportunity by there is a lot of work to do, which I’ll talk about with our strategySo, all those are very, very important trends that have the potential to significantly change the landscape of the online industry. And we see genuine opportunity for us to ride these trends and to build a new paradigm for how to interact with the web, by primarily focusing on task completion. Vertically Integrated CompetitionWe are in an era whereby large companies compete by vertically integrating their assets together Your hardware, your OS your software, your cloud servicesThis is the overarching trendThe technological fundamental reason this is so is you can unlock consumer experiences values and business values cut across all these componentsThere is a lot of working going on at MS----usually we start with a consumer scenario and we say “what can we do on OS, what can we do with cloud based services, in hardwareFor example we’re putting nfc chips in our hardware—imaging the scenario where you can go to store and pay with your cell phoneOr Train stations in China the walls are painted with produce—you just point your phone and you can have it delivered to your house—so the wall is a virtual storeBut you need all of the vertical assets MS has all the assets software/hardward/os/cloud services, including sykpe which is a very important assetSo that’s another overarching trend
Our strategic vision to breakthrough is to : "re-organize the web for task completion"Key points:Here is a visual way to illustrate our vision by looking at how structurally the web has evolved, and where it is heading towards.The web grew up as a collection of hypertext documents. The structure of the web has been a giant topic graph where the links are connective tissues that hook the trillions of web pages together, and the text within the links, often noun and noun phrases, serving as the topic label for sites and pages. The search model today of mapping keywords to URL works because keywords are a topic expression of interests and we can understand user intent by analyzing keywords,We can also understand the web by analyzing the web content and the topic graph, to make user intent with URLs.However, the web has grown way beyond a collection of documents, it has rapidly become a full blown digital universe, with every person, every place, and everything being digitally represented. As a result, the new emerging structure of the web will enable us to do much better and moreSpecifically:Social: especially the Facebook social graph of 800M profiles, the billions of "likes" and "share" activities, is creating a new structure that enable us to understand user interests much more, enabling new ways to discover and interact. Geospatial: we are building a digital copy of the planet making every place and every road digitally available. This also creates a new and rich structure that connects the web together, enabling new ways to understand user context, and discover and interact much better particularly on mobile devices. Appification of the web: the Apps that are using rich visual controls and much more natural interaction models of touch, voice, gesture, enabling new ways to understand user actions leading to a new and richer structure that will connect all the apps together. Adding all that, the web is much richer in that we can re-organize the web so that Bing can offer much more compelling experiences that truly "enable", "assist", and "enrich" any human task. This is how we will breakthrough in Search! TRANSCRIPT OF THIS SLIDE FROM WINDOWS PHONE FIELD SUMMIT:We launched bing about two and a half years ago in June 2009, up to this point we’ve been making progress in terms of search market shares. Almost every month we’re chipping away, we’re growing our market shares, this is good, but not good enough, because we must fundamentally change the game in order to breakthrough, we’re here to breakthrough to lead in the future, not to only chip it away. Now the key is how do we breakthrough, why our partnership with you all is part of breakthrough, let me talk you through our thinking. So how strategically this is the journey we’re going to be on, so start with, let’s look at the search, understand what’s fundamental about search because that will tell how the breakthrough path will be. Because search at it’s very core, it’s the gateway to enable every consumers to discover and access the digital experiences that live in the web of the online universe. That’s at the core, there’s many different ways of doing it, you can type in key words, you can speak to it, but at its very core it’s a gateway to enable people to discover and access. In order to break through the consumer experience to lead the future generation of search we must write important secular trends that’s causing fundamental information architectural changes, the structure of the web is changing, the way to breakthrough is to write those structure changes. Because otherwise, strategically whatever we can think about, whatever we can do, Google can do the same things, there’s nothing to prevent Google from doing everything we do. But only when we write the fundamental structure change and to connect those structure change with unique Microsoft assets, things that only we have, Google doesn’t have, that truly will enable a strategy, a dominant strategy that enable us to breakthrough, to lead in the future. So let me explain to you how this path can be, to start with, how search works today and we all know the way search works today is you type in key words and you get a list of results and you click on URLs. That’s how we as users navigate the web, the reason why that works, the reason why that works is because the information architecture, the structure of the web is fundamentally a topical graph because if we stop for a moment, reflect on the vastness of the web, the web is truly huge. For bing, our infrastructure footprint is much smaller then Google, but we today see over three trillion pages, meaning that bing’s crawlers see over three trillion URLs and we fetch somewhere between half trillion to one trillion URL, we fetch the URL, we not only have the URL, we fetch it. And each day we discover 50 billion new URLs a day, it’s a huge, huge space. Then you ask the question, what’s the structure that connects all the web together, that enables us to consumer, discover, navigate, as one product because the web is so beautiful we can’t really live without the web today. All the information, all the knowledge, all the news, sports scores, financial, all that but the structure is really a graph, because that’s how the web gets started, the hyperlinks that connect everything together. The webs are linked together but what’s much more salient is not just those links but the text that you put in each links, any time you link to another site, right, you build the site, you say something about that, it turns out for English that mostly noun phrases, they serve as the topical label, the topical about which the page inside which you’re pointing to. So computationally it’s a topical graph that connects everything together, why this is important, because key words are topical expression of needs and interests. And the reason key words works is because the topical graph, that’s the roads and bridges of the web, you cannot navigate the web differently. Some of you may have heard me use the example print boarding pass. I travel with Southwest, most people if you travel you print boarding pass, the way you do is you type in Southwest into search engine, but Southwest is a geographical concept, it’s a name of book, it’s a name of groups, it’s a name of many different things, search engine will have no idea what you’re trying to do, it will give you everything about southwest, your intent is to print boarding pass but none of us will go to search and type in print boarding pass, the reason is you cannot navigate the web by verbs, the reason is the web isn’t connected by verbs, the web is connected by topical labels; those are the roads and the bridges of the web. It’s good, it’s useful, but it can be much, much better, it can be much, much better and that’s the fundamental start of break through(?) because there’s new information architecture, new information structure that’s being created everyday that we can use to build fantastic and new set of consumers search experience for the future. Let me talk through some of the key things in our strategy thinking, first is social, because what facebook has done is really a profound phenomena because user profiles, sharing activities, truly become mainstream. Across the globe, the numbers are amazing, on facebook there’s over 4 billion sharing activities per day, 4 billion per day. 1 billion sharing activities per day in the United States, anytime you click a like button, you listen to music on spot a file, you read from Washington Post readers, these information are captured, this person read that news article, this user is interested in this kind of music, so you can imagine, now the digital graph is in additional to topical you have this social graph overlay with interest graph, who is interested in what. And those new information architect enable us to build a new consumer surfaces, new ways of discover and interact. Young generation in particular, I have a daughter, second year in UC Berkley, she use facebook to discover most of the stuff and there’s more to be done, which I’ll talk a little bit more about it. So this is a very, very important part of what we try to do to breakthrough because you’re riding a fundamental train, causing a structural difference in the web and then we have a strong partnership with facebook because it’s particular context that your political equivalent of enemies are enemies and enemies as friends really applies because Google is hell bent try to kill facebook. So as long as Google doesn’t fumble terribly we have a set of opportunities to work with facebook richly because we’re deeply both motivated to defeat Google, to disrupt Google so that’s one important trend we’re doing. The second a lot of you are pretty much aware of because it’s very germane to mobile devices, it’s the geospatial dimension, because geospatial coordinate, locations become another emerging structure that ties all the detailed experiences together, particularly for mobile devices. Because on the mobile devices typing a URL, clicking on links, it’s just a fundamentally natural and we as human being we all live in the physical world, we connect to other human being, organization, products, services, all in the geographical, geospatial matters so therefore there’s new digital surface areas such as check in, near me now all those that become better ways for you to discover and access and interact. Again, search is about discover, access, interact and these are better ways to type in key words, click on URLs so using spatial is a key dimension to differentiate. We in particular, thanks to a lot of good work from all of you have a ten year partnership with Nokia and they own a company called Navteq, which is strong in geo location datas and Nokia and us are working very, very closely together using our strengths so that we can meaningfully differentiate on the spatial dimensions. And third on is certainly most important, particularly long term for our company’s overall competitive strategy which is something we call the apptification of the web. Apps is a new form of on ramp, in many ways the OS, the home screen becomes equivalent of the future browser. Because our small form factors when bandwidth was a constraint, using browser, reading pages, is not the best way to discover and interact with different pages. Using apps, using different paradigms, particularly touch, voice, gesture based is much, much more natural that enable the users to interact the digital services much richer. Now, the key, key question is there’s a structural revolution that’s going on, because apps now link together. When you, one day have millions of apps, how do we discover, how do we interact, what’s the connective tissue that hooks all those apps together, that we see is Microsoft opportunity. Because we can build digital experiences that enable all those apps to connect together in rich, meaningful manners, using our company’s unique assets so that we can build a truly differential services and experiences. In particular the collaboration between bing and Windows Phone, the collaboration between bing and Windows 8, the collaboration between bing and Xbox are key initiatives that enable us to build not only new consumer app experiences but create a new digital information architecture so that we can lead for the future. So those are all the key structural differences that we can harvest. The key things, the key things, that one let’s build a competitive consumer experience that address fundamental, deep, human needs, discover, access, information; that use the web, particularly use the web as delivered through devices, particularly mobile devices, to fundamentally enable, assist, enrich, any human activity. That’s our aspiration and we can see it, we absolutely have the wherewithal, have the resources, have the partnership, to deliver that future mission. So that’s in a nutshell our vision for the long term future, we say the web is great but can be far, far greater if we can organize the web differently. Today’s web are organized by key words and indexes, URLs, that’s good, but not nearly good enough. We want to reorganize the web so that it fundamentally serves far greater purposes and unlock much, much greater values.
We believe that search will be re-invented along 3 dimensionsThe information architecture will be different as the underlying web architecture moves from just topical to topical, social, geospatial and task oriented.The interaction models will be different; it will no longer be just mouse and keyboard, but also voice, touch, gesture, vision and mutli-modal (multiple way of inputs in the same device)The entry points will be different; no longer just via the browser, but going into devices via apps and operating systems and services, particularly social networks.That in a nutshell is how we think search will be re-invented. With that lets move on to our progress to date…
So once we have all these objects, and begin to understand intent, we can do some magic