Global Economy – a Digital Future discusses how Bournemouth, UK is becoming a world digital hub. It notes key statistics about internet users globally and the total number of websites. Social media has changed how people interact and businesses must adapt to the connected, visual, personalized, automated and mobile expectations of digital consumers. The rise of user-generated content and memes show how the internet enables a "hive mind". A long tail economy allows niche interests to be served, with implications for microfinance and innovation. To succeed, businesses cannot rely on one-size-fits-all and must think creatively and strategically and develop unique, innovative approaches.
Review looking at the future of financial technologies (FinTech) up to 2025.
This report sets out the findings of a review by the Government Chief Scientific Adviser on FinTech. It looks at:
* what government can do to help achieve the economic potential of FinTech
* how companies can work more closely with academia to ensure that the UK continues to be a world leader in this area
It recommends a number of actions for government to support the growth of the sector.
Philippine Roadmap for Digital Startups 2015 and BeyondJanette Toral
Document was launched at Geeks on a Beach (August 20, 2015) for public discussion. An initiative led by the Department of Science and Technology - Information and Communications Technology Office (DOST-ICTO).
Its action areas include:
1. Intellectual Property Rights
2. Internet Infrastructure
3. Science Parks and Innovation Hubs 4. Legislation/Policy
5. Grassroots Activities
6. Funding and Investment
7. Umbrella Organization
8. Research and Development
9. Education
10. Open-sourced Information
11. Collaboration
12. Government Role
The Inclusive Fintech 50 applicant pool provides new insights into inclusion-focused fintech, itself a subset of the fintech universe. Early-stage inclusive fintechs are developing innovative products, services, business models, and distribution channels to provide solutions for underserved segments. Yet these startups require capital and other resources in order to reach the world’s 3 billion financially underserved people. By highlighting these high-potential companies, we hope to support the efforts of investors, banking partners, and other fintechs working towards a financially inclusive world.
https://runfrictionless.com/b2b-white-paper-service/
Digital Disruption in Asset and Wealth ManagementCapgemini
The groundswell that is today impacting massively retail banking is now impacting all banking businesses. Opportunities offered by new digital technology such as Big data & analytics have not been fully explored yet by Asset & Wealth Management actors, and new technologies are mainly confined to improve shared platforms and reporting flexibility. But the turn might come soon now with the aggressive launches of Fintechs investing all parts of the banking business, including its most exclusive territories.
Asset and Wealth Management might be the next targets, facing the up-rise of new Robo-Advisors quickly gaining market
share on their devoted playground until now.
Traditional Asset and Wealth Managers should anticipate and react, building on their knowledge and assets in order to contain this new trend but this will require that they adapt and probably more globally rethink their business model, to avoid the commoditization of their activity.
The aim of this document is to present how Asset and Wealth Managers can take advantage of the digital revolution / emergence of Fintechs to become more competitive and attract more clients.
IMAP Fintech Sector Leaders share insights into the global Fintech sector.
They look at the short- and long-term effects of the COVID pandemic and which subsectors stand to lose and who ultimately stands to benefit. Sharing their thoughts on key themes disrupting the sector, including payments, digitalization, lending and mobile, they examine
how these have been impacting M&A activity and valuations.
They provide an overview of the most active players, as well as expectations for this key sector moving forward.
Review looking at the future of financial technologies (FinTech) up to 2025.
This report sets out the findings of a review by the Government Chief Scientific Adviser on FinTech. It looks at:
* what government can do to help achieve the economic potential of FinTech
* how companies can work more closely with academia to ensure that the UK continues to be a world leader in this area
It recommends a number of actions for government to support the growth of the sector.
Philippine Roadmap for Digital Startups 2015 and BeyondJanette Toral
Document was launched at Geeks on a Beach (August 20, 2015) for public discussion. An initiative led by the Department of Science and Technology - Information and Communications Technology Office (DOST-ICTO).
Its action areas include:
1. Intellectual Property Rights
2. Internet Infrastructure
3. Science Parks and Innovation Hubs 4. Legislation/Policy
5. Grassroots Activities
6. Funding and Investment
7. Umbrella Organization
8. Research and Development
9. Education
10. Open-sourced Information
11. Collaboration
12. Government Role
The Inclusive Fintech 50 applicant pool provides new insights into inclusion-focused fintech, itself a subset of the fintech universe. Early-stage inclusive fintechs are developing innovative products, services, business models, and distribution channels to provide solutions for underserved segments. Yet these startups require capital and other resources in order to reach the world’s 3 billion financially underserved people. By highlighting these high-potential companies, we hope to support the efforts of investors, banking partners, and other fintechs working towards a financially inclusive world.
https://runfrictionless.com/b2b-white-paper-service/
Digital Disruption in Asset and Wealth ManagementCapgemini
The groundswell that is today impacting massively retail banking is now impacting all banking businesses. Opportunities offered by new digital technology such as Big data & analytics have not been fully explored yet by Asset & Wealth Management actors, and new technologies are mainly confined to improve shared platforms and reporting flexibility. But the turn might come soon now with the aggressive launches of Fintechs investing all parts of the banking business, including its most exclusive territories.
Asset and Wealth Management might be the next targets, facing the up-rise of new Robo-Advisors quickly gaining market
share on their devoted playground until now.
Traditional Asset and Wealth Managers should anticipate and react, building on their knowledge and assets in order to contain this new trend but this will require that they adapt and probably more globally rethink their business model, to avoid the commoditization of their activity.
The aim of this document is to present how Asset and Wealth Managers can take advantage of the digital revolution / emergence of Fintechs to become more competitive and attract more clients.
IMAP Fintech Sector Leaders share insights into the global Fintech sector.
They look at the short- and long-term effects of the COVID pandemic and which subsectors stand to lose and who ultimately stands to benefit. Sharing their thoughts on key themes disrupting the sector, including payments, digitalization, lending and mobile, they examine
how these have been impacting M&A activity and valuations.
They provide an overview of the most active players, as well as expectations for this key sector moving forward.
Fintech overview for HEIG-VD lecture, December 2016Jérôme Vasamillet
Hello, I'd like to share a presentation I prepared for a lecture at the HEIG-VD engineering and management school in Switzerland, focusing on Fintech with a Global and Swiss overview. Being a long lecture in front of students in International Innovation Management, it looks at Fintech under various angles, and also presents the Startup Weekend Fintech Geneva which I co-organize, as a pre-Fintech startup experience. Hope you enjoy the pack! Jérôme.
The Future of Philippine Payments Industry: A Technology Foresight by 2022Maurice Gonzales, MTM
This presentation summarizes the 80 page capstone project of Maurice Gonzales entitled: The Future of Philippine Payments Industry: A Technology Foresight by 2022.
The final and full copy of the paper is available at the University of The Philippines, Technology Management Center library and in the theses database of the said institution.
Opportunities in China's Startup EcosystemZhenFund
The 2013 update from ZhenFund on the state of China's technology startup ecosystem. Last time we outlined the 3C's 2E's in understanding the differences between China and Silicon Valley. This year we focus on some of the positive trends we see developing in the startup ecosystem.
Finch Capital issued its annual State of European fintech report for 2020. The report covers a range of topics impacting the fintech industry: where we are today; the impact of CV-19; the M&A conundrum; and trends the Finch Capital team anticipates will shape FinTech in 2021. This follows an analytical report published in April of this year titled ‘FinTech: The Future Post CV-19’.
Philippe Gelis, CEO & Co-Founder of Kantox, talking about the next 10 years in Fintech; A new co-petitive eco-system starts emerging within the financial sector
Current was founded in 2015 by Stuart Sopp. Stuart Sopp was a Wall Steet trader and worked many major banks including Morgan Stanley, Citi, and Deutsche.
Currently Current offers three types of accounts - A free account, a premium account, and a teen account. The premium account costs US$4.99 a month and the teen account costs US$36 per year per teen.
No minimum balance and no-fee model is targeted at Millenials and Gen Z customers who face liquidity issues in managing their finances. Current primarily uses influencers to reach potential customers.
Current currently has more than 3 million customers and is valued at US$2.2 billion.
An overview of the fintech industry and what London does to be the leader.
A presentation made at Fintech Fusion Geneva by Susanne Chishti from FINTECH Circle.
As part of the European Indonesian Business Network initiative "Gateways to ASEAN: ICT Opportunities in Indonesia", had a chance to travel to the Polish cities of Warsaw, Wroclaw and Poznan to share with Polish entrepreneurs the challenges and opportunities of conducting business in Indonesia.
The main topics of conversation included Digital, Mobile, FinTech Development & Logistics.
The discussions focused on providing attendees with practical perspectives on where the ICT business potential of Indonesia lies and what is to be expected when choosing to enter the country's high potential market.
The ICT Business Opportunities in Indonesia sessions have the support of the Polish Agency for Enterprise Development (PARP), and are co-organized by the Polish Chamber of Commerce (in Warsaw), the Wroclaw Center of Technology Transfer (in Wroclaw) and the Poznan Science and Technology Park (Poznan).
Digital SMBs - Key Pillar of India's Economy | ZinnovZinnov
This study is a comprehensive view of the Indian SMB landscape, focusing on key aspects like -
a) current technology adoption
b) transition from traditional SMB to 'Digital SMB'
c) the opportunity owing to SMB digitalization
d) ecosystem initiatives
d) the way forward
To get your hands on the full version of the report, drop us a note at info@zinnov.com.
DMCC is the world’s leading and fastest-growing Free Zone and Government of Dubai Authority for commodities trade, enterprise, and innovation in business service and infrastructure.
The Future of Trade 2021 is the fourth edition of DMCC’s flagship report exploring the changing nature of global trade following reports in 2016, 2018, and 2020.
Assessing the impact of geopolitics, technology, and global economic trends on the future of trade, with a focus on trade growth, the digitalization of trade, the pivot to sustainability, trade finance, and infrastructure.
Tra elusione fiscale e libertà di stabilimento nei casi di esterovestizioneElio Palmitessa, LL.M.
Con la Sentenza n. 43809/15 i giudici della Corte Suprema hanno certificato una “dissociazione” tra il luogo di effettivo esercizio della direzione amministrativo e il luogo in cui si colloca il potere di direzione e coordinamento della capogruppo. Quest’ultimo, infatti, non può più essere considerato tout-court come il luogo dal quale partono gli impulsi volitivi della società, ma si sottolinea l’esigenza di effettuare una valutazione più ampia che passi anche da una analisi oggettiva delle attività, delle funzioni e dei rischi assunti dalla controllata estera nella sua ordinaria operatività
Fintech overview for HEIG-VD lecture, December 2016Jérôme Vasamillet
Hello, I'd like to share a presentation I prepared for a lecture at the HEIG-VD engineering and management school in Switzerland, focusing on Fintech with a Global and Swiss overview. Being a long lecture in front of students in International Innovation Management, it looks at Fintech under various angles, and also presents the Startup Weekend Fintech Geneva which I co-organize, as a pre-Fintech startup experience. Hope you enjoy the pack! Jérôme.
The Future of Philippine Payments Industry: A Technology Foresight by 2022Maurice Gonzales, MTM
This presentation summarizes the 80 page capstone project of Maurice Gonzales entitled: The Future of Philippine Payments Industry: A Technology Foresight by 2022.
The final and full copy of the paper is available at the University of The Philippines, Technology Management Center library and in the theses database of the said institution.
Opportunities in China's Startup EcosystemZhenFund
The 2013 update from ZhenFund on the state of China's technology startup ecosystem. Last time we outlined the 3C's 2E's in understanding the differences between China and Silicon Valley. This year we focus on some of the positive trends we see developing in the startup ecosystem.
Finch Capital issued its annual State of European fintech report for 2020. The report covers a range of topics impacting the fintech industry: where we are today; the impact of CV-19; the M&A conundrum; and trends the Finch Capital team anticipates will shape FinTech in 2021. This follows an analytical report published in April of this year titled ‘FinTech: The Future Post CV-19’.
Philippe Gelis, CEO & Co-Founder of Kantox, talking about the next 10 years in Fintech; A new co-petitive eco-system starts emerging within the financial sector
Current was founded in 2015 by Stuart Sopp. Stuart Sopp was a Wall Steet trader and worked many major banks including Morgan Stanley, Citi, and Deutsche.
Currently Current offers three types of accounts - A free account, a premium account, and a teen account. The premium account costs US$4.99 a month and the teen account costs US$36 per year per teen.
No minimum balance and no-fee model is targeted at Millenials and Gen Z customers who face liquidity issues in managing their finances. Current primarily uses influencers to reach potential customers.
Current currently has more than 3 million customers and is valued at US$2.2 billion.
An overview of the fintech industry and what London does to be the leader.
A presentation made at Fintech Fusion Geneva by Susanne Chishti from FINTECH Circle.
As part of the European Indonesian Business Network initiative "Gateways to ASEAN: ICT Opportunities in Indonesia", had a chance to travel to the Polish cities of Warsaw, Wroclaw and Poznan to share with Polish entrepreneurs the challenges and opportunities of conducting business in Indonesia.
The main topics of conversation included Digital, Mobile, FinTech Development & Logistics.
The discussions focused on providing attendees with practical perspectives on where the ICT business potential of Indonesia lies and what is to be expected when choosing to enter the country's high potential market.
The ICT Business Opportunities in Indonesia sessions have the support of the Polish Agency for Enterprise Development (PARP), and are co-organized by the Polish Chamber of Commerce (in Warsaw), the Wroclaw Center of Technology Transfer (in Wroclaw) and the Poznan Science and Technology Park (Poznan).
Digital SMBs - Key Pillar of India's Economy | ZinnovZinnov
This study is a comprehensive view of the Indian SMB landscape, focusing on key aspects like -
a) current technology adoption
b) transition from traditional SMB to 'Digital SMB'
c) the opportunity owing to SMB digitalization
d) ecosystem initiatives
d) the way forward
To get your hands on the full version of the report, drop us a note at info@zinnov.com.
DMCC is the world’s leading and fastest-growing Free Zone and Government of Dubai Authority for commodities trade, enterprise, and innovation in business service and infrastructure.
The Future of Trade 2021 is the fourth edition of DMCC’s flagship report exploring the changing nature of global trade following reports in 2016, 2018, and 2020.
Assessing the impact of geopolitics, technology, and global economic trends on the future of trade, with a focus on trade growth, the digitalization of trade, the pivot to sustainability, trade finance, and infrastructure.
Tra elusione fiscale e libertà di stabilimento nei casi di esterovestizioneElio Palmitessa, LL.M.
Con la Sentenza n. 43809/15 i giudici della Corte Suprema hanno certificato una “dissociazione” tra il luogo di effettivo esercizio della direzione amministrativo e il luogo in cui si colloca il potere di direzione e coordinamento della capogruppo. Quest’ultimo, infatti, non può più essere considerato tout-court come il luogo dal quale partono gli impulsi volitivi della società, ma si sottolinea l’esigenza di effettuare una valutazione più ampia che passi anche da una analisi oggettiva delle attività, delle funzioni e dei rischi assunti dalla controllata estera nella sua ordinaria operatività
Race to find the hacker! Take everything you’ve learned today and put it to work. We’ll construct a scenario and you will try to solve the problem with sysdig and build a falco rule to detect the issue in the future. Gear up, folks, there is a drone on the line as a prize for the winner!
SmartBone: the innovative bone substitute for oral surgery and maxillofacial ...SmartBone
SmartBone is a new hybrid bioactive bone substitute specifically developed for bone regeneration in reconstructive surgery.
SmartBone is produced by combining a bovine mineral bone matrix with bioactive resorbable polymers and cell nutrients. This new concept of composite biomaterial promotes a quick growth of the patient’s cells into SmartBone while its biopolymers degrade, providing perfect integration and osteogenesis.
Digital transformation in Higher Education webinar
Monday 10 September 2018
Speakers:
Kuldip Sandhu and Paul Featherstone
The link to the write up page and resources of this webinar:
https://www.apm.org.uk/news/digital-transformation-in-higher-education-webinar/
Digital marketing and financial servicesguest4dd62f
Impact of digital media on marketing with special reference to financial institutions. Invited presentation by Ian Fenwick of digiAindra co. ltd. to Kbank in Bangkok. May 6 2010
Implications of the growth in digital media for marketing. Growth of digital marketing (digimarketing) with special reference to financial institutions. Invited presentation by Ian Fenwick of digiAindra co. ltd to Kbank, Bangkok. May 6 2010
Presentation discusses the key reasons for considering mobile learning as a part of your training mix. Also covers ways to get started with mLearning quickly.
Review of ADCs in banking sector from ATMS to social media. Consideration of operational, legal and regulatory risks for "grown up" financial services institutions adopting social media channels. Analysis of social media regulation and guidance: FFIEC (USA) and FCA (UK)
Innovation Management - A capsuled presentation on Innovation for studentsSuren Mathur
A crisp presentation on Innovation, its definitions, meaning and how to ' manage innovation' as a Manager / Executive within a business organization / company
Intro to Digital Marketing - ClickZ Live Hong Kong 2014MWI Hong Kong
Slides from Joshua Steimle's presentation at ClickZ Live Hong Kong on digital marketing fundamentals. A high level view of SEO, social media, and online PR. Includes case studies and actionable tips based on Steimle's experience as a writer for Forbes and other publications.
The use of Mobile technology in the workplace is increasing rapidly. As businesses adopt the latest gadgets, research into the effects of working in a 'wired' world also suggest using caution and setting usage guidelines.
This talk covers areas of responsible gambling, calling for greater transparency and fair access to data sharing amongst all stakeholders within a gambling ecosystem. Principles 5 and 12 of the EROGamb charter on Responsible Gambling are emphasised.
Consumer trust in a post-truth world: Exploring a trust repair vis-à-vis ser...Bournemouth University
Find attached slides presenting interim results of my Academy of Marketing funded research that I presented at the Business School, Faculty of Management, BU staff seminar series.
Social media has created different dimension of consumers for luxury products, specifically the aspirational consumer who wishes to own a product, but for economic reasons cannot. In other words aspirational consumers use luxury brands to create value for themselves using social media to conspicuously consume without purchase. Aspirational consumers are mostly found among HENRYs (high earners, not rich yet). Studies around conspicuous consumption of luxury products as a result of digital technology influence are fragmented. However, in-depth understanding of HENRYs’ consumer behaviour in the pre-experience (before actual purchase) stage is important. Using hybrid of online and face-to-face focus group data, this study maps HENRYs’ consumer journeys that reflects the role of social media in conspicuous consumption of luxury brands. We found that most of HENRYs purchase luxury for status and in the context of social media it becomes even more rationale to demonstrate own luxury possessions via creating own social media content - most HENRYs are narcissist. Social media represents an immediate environment of luxury conspicuous consumption where HENRYs are aspired to purchase luxury by mostly user-generated content and are driven to produce own social media content as evidence of luxury purchasing and possessions – to satisfy own narcissistic ambitions.
Creativity in marketing is art of persuasion (and always will be) but today it is also a matter of businesses' survival.
This presentation was delivered to Bournemouth University International College students who were tasked to create a small business locally (Bournemouth area) and convince investors to fund their ideas.
I challenged students to think about branding and marketing, creating BUZZ and conversations about their idea before they have a product/service/business. In attempt to delight customers, we ought to tell them story and engage them in creating story so listening to conversations is also part of finding product, defining customer base and creating brands.
Marketing as a career choice: merging creativity and science
Can you recall being asked to choose between Humanities and Science subjects at school or when applying to the university?
It is a common perception that creative mindsets imply ‘soft’ skills in understanding human psychology, designing visions and working with people. On the other hand, the scientific mindsets tend to be analytical and methodical in seeing the world. Hence, these individuals with the hunger for scientific skills tend to work with technology by implementing visions.
What about individuals who tend to be in the middle of this creative-scientific continuum? Marketing allows such individuals to seek full realisation of their potential by being creative and scientific. In the age of the Internet of Things being strategic and creative about engaging consumers, public and businesses with the world and everything it has to offer becomes ever so challenging.
If you are an individual with the creative scientific mindset, consider career in marketing. Let’s explore what marketing adopts from the medical, biological and technology disciplines, on one hand, and from the psychology and design disciplines, on the other hand.
Synthetic Fiber Construction in lab .pptxPavel ( NSTU)
Synthetic fiber production is a fascinating and complex field that blends chemistry, engineering, and environmental science. By understanding these aspects, students can gain a comprehensive view of synthetic fiber production, its impact on society and the environment, and the potential for future innovations. Synthetic fibers play a crucial role in modern society, impacting various aspects of daily life, industry, and the environment. ynthetic fibers are integral to modern life, offering a range of benefits from cost-effectiveness and versatility to innovative applications and performance characteristics. While they pose environmental challenges, ongoing research and development aim to create more sustainable and eco-friendly alternatives. Understanding the importance of synthetic fibers helps in appreciating their role in the economy, industry, and daily life, while also emphasizing the need for sustainable practices and innovation.
Unit 8 - Information and Communication Technology (Paper I).pdfThiyagu K
This slides describes the basic concepts of ICT, basics of Email, Emerging Technology and Digital Initiatives in Education. This presentations aligns with the UGC Paper I syllabus.
Exploiting Artificial Intelligence for Empowering Researchers and Faculty, In...Dr. Vinod Kumar Kanvaria
Exploiting Artificial Intelligence for Empowering Researchers and Faculty,
International FDP on Fundamentals of Research in Social Sciences
at Integral University, Lucknow, 06.06.2024
By Dr. Vinod Kumar Kanvaria
June 3, 2024 Anti-Semitism Letter Sent to MIT President Kornbluth and MIT Cor...Levi Shapiro
Letter from the Congress of the United States regarding Anti-Semitism sent June 3rd to MIT President Sally Kornbluth, MIT Corp Chair, Mark Gorenberg
Dear Dr. Kornbluth and Mr. Gorenberg,
The US House of Representatives is deeply concerned by ongoing and pervasive acts of antisemitic
harassment and intimidation at the Massachusetts Institute of Technology (MIT). Failing to act decisively to ensure a safe learning environment for all students would be a grave dereliction of your responsibilities as President of MIT and Chair of the MIT Corporation.
This Congress will not stand idly by and allow an environment hostile to Jewish students to persist. The House believes that your institution is in violation of Title VI of the Civil Rights Act, and the inability or
unwillingness to rectify this violation through action requires accountability.
Postsecondary education is a unique opportunity for students to learn and have their ideas and beliefs challenged. However, universities receiving hundreds of millions of federal funds annually have denied
students that opportunity and have been hijacked to become venues for the promotion of terrorism, antisemitic harassment and intimidation, unlawful encampments, and in some cases, assaults and riots.
The House of Representatives will not countenance the use of federal funds to indoctrinate students into hateful, antisemitic, anti-American supporters of terrorism. Investigations into campus antisemitism by the Committee on Education and the Workforce and the Committee on Ways and Means have been expanded into a Congress-wide probe across all relevant jurisdictions to address this national crisis. The undersigned Committees will conduct oversight into the use of federal funds at MIT and its learning environment under authorities granted to each Committee.
• The Committee on Education and the Workforce has been investigating your institution since December 7, 2023. The Committee has broad jurisdiction over postsecondary education, including its compliance with Title VI of the Civil Rights Act, campus safety concerns over disruptions to the learning environment, and the awarding of federal student aid under the Higher Education Act.
• The Committee on Oversight and Accountability is investigating the sources of funding and other support flowing to groups espousing pro-Hamas propaganda and engaged in antisemitic harassment and intimidation of students. The Committee on Oversight and Accountability is the principal oversight committee of the US House of Representatives and has broad authority to investigate “any matter” at “any time” under House Rule X.
• The Committee on Ways and Means has been investigating several universities since November 15, 2023, when the Committee held a hearing entitled From Ivory Towers to Dark Corners: Investigating the Nexus Between Antisemitism, Tax-Exempt Universities, and Terror Financing. The Committee followed the hearing with letters to those institutions on January 10, 202
How to Make a Field invisible in Odoo 17Celine George
It is possible to hide or invisible some fields in odoo. Commonly using “invisible” attribute in the field definition to invisible the fields. This slide will show how to make a field invisible in odoo 17.
Francesca Gottschalk - How can education support child empowerment.pptxEduSkills OECD
Francesca Gottschalk from the OECD’s Centre for Educational Research and Innovation presents at the Ask an Expert Webinar: How can education support child empowerment?
Operation “Blue Star” is the only event in the history of Independent India where the state went into war with its own people. Even after about 40 years it is not clear if it was culmination of states anger over people of the region, a political game of power or start of dictatorial chapter in the democratic setup.
The people of Punjab felt alienated from main stream due to denial of their just demands during a long democratic struggle since independence. As it happen all over the word, it led to militant struggle with great loss of lives of military, police and civilian personnel. Killing of Indira Gandhi and massacre of innocent Sikhs in Delhi and other India cities was also associated with this movement.
Thesis Statement for students diagnonsed withADHD.ppt
Bournemouth - global digital hub
1. Global Economy – a Digital Future:
Bournemouth – a world’s digital hub
Dr Elvira Bolat MIDM, FHEA
Lecturer in Marketing
Programme Leader, BSc Marketing
ebolat@bournemouth.ac.uk
@Elvira_MLady
Britain’s digital economy is booming outside London, with 74pc of digital firms now based beyond the capital, and Bournemouth, Liverpool and Brighton emerging as the industry’s runaway success stories.
In the landmark Tech Nation report, the largest ever study of the UK’s digital sector, inner London is ousted from its place at the heart of the industry.
Bournemouth, coming from a very low base, has become the UK’s fastest-growing city in the digital economy, with digital start-up incorporations rising 212pc between 2010 and 2013.
Liverpool has experienced the second-fastest growth in new digital companies, more than doubling its number of digital firms.
Between 2013 and 2014, Brighton’s incorporation rate drew level with London, with a 20pc increase in digital company formations. Take a look at the map below to find out each city's digital specialisms.
Even in financial terms, London fails to pack the punch it once did.
Manchester is the UK’s fastest-growing tech cluster by turnover, with revenues rising 74pc year-on-year. Belfast grew its digital turnover by 57pc and Sheffield by 47pc.
London is in fourth place, with revenues up 42pc.
South Wales also makes it into the top five, increasing turnover from digital industries by 28pc year-on-year, mainly through the success of its health technology, data management and analytics industries.
Some 15pc of all new company incorporations last year were digital technology start-ups.
The growth in this nascent sector is remarkable: 50pc of all the digital companies in the UK were launched after 2008, despite the challenge presented by the arrival of the greatest recession in living memory.
Their newness explains why 98pc are classified as small businesses.
The UK is currently home to more start-ups than ever before. Last year, more than 500,000 new companies were created, up from 484,224 the year before.
The economic impact of this cohort is set to accelerate now that trading conditions are more favourable. While just 56pc saw revenues rise last year, 90pc are expecting a sales surge in 2015.
The research - commissioned by Tech City, the Government-backed organisation charged with accelerating the growth of the UK digital economy - found that these new digital start-ups have helped drive the UK’s economic recovery.
Baroness Shields, the chair of Tech City UK and digital adviser to the Prime Minister, said the onus is now on the Government to make sure that policy supports these growing firms.
“12.4pc of our GDP is attributed to technology and digital business, that’s the highest in the G20,” she told The Telegraph. “We are the most digital nation in the world and it is important that government policy makes the most of this enormous potential.”
Largest GDP
Growing – world’s largest digital economy in terms of GDP, 4.12% GDP, largest e-commerce participant, spend more on e-commerce. Leading industries, world’s top universities, leaders in big data, and data analytics.
Broadband – high speed internet.
What happens on the Internet in one minute? – all things going on in just one minute of Internet time!
Over 200 million emails sent
48000 apps downloaded
4 million searches on Google
Why does it matter????
Competition,
Business models,
Operations
Thought[edit]
Morozov expresses skepticism about the popular view that the Internet is helping to democratize authoritarian regimes, arguing that it could also be a powerful tool for engaging in mass surveillance, political repression, and spreading nationalist and extremist propaganda. He has also criticized what he calls "The Internet Freedom Agenda" of the US government, finding it naive and even counterproductive to the very goal of promoting democracy through the Web.[9]
The Net Delusion: The Dark Side of Internet Freedom[edit]
In January 2011, Morozov published his first book The Net Delusion: The Dark Side of Internet Freedom (ISBN 978-1586488741). In addition to exploring the impact of the Internet on authoritarian states, the book investigates the intellectual sources of the growing excitement about the liberating potential of the Internet and links it to the triumphalism that followed the end of the Cold War.[10] Morozov also argues against the ideas of what he calls cyber-utopianism (the inability to see the Internet's 'darker' side, that is, the capabilities for information control and manipulation of new media space) and Internet-centrism (the growing propensity to view all political and social change through the prism of the Internet).[11]
To Save Everything, Click Here: The Folly of Technological Solutionism[edit]
In March 2013, Morozov published a second book, To Save Everything, Click Here (ISBN 1610391381). Morozov criticizes what he calls "technology solutionism," the idea that, as Tim Wu put it, "a little magic dust can fix any problem," but Wu, whose own work is severely criticized by Morozov,[12] dismisses Morozov's book as "rife with such bullying and unfair attacks that seem mainly designed to build Morozov’s particular brand of trollism," and "a missed opportunity" to discuss the issues.[13] Morozov believes that technology should be debated alongside debates about politics, economics, history, and culture.[14]
About Internet libertarians, Morozov told The New Yorker: "They want to be ‘open,’ they want to be ‘disruptive,’ they want to ‘innovate.’ “The open agenda is, in many ways, the opposite of equality and justice. They think anything that helps you to bypass institutions is, by default, empowering or liberating. You might not be able to pay for health care or your insurance, but if you have an app on your phone that alerts you to the fact that you need to exercise more, or you aren’t eating healthily enough, they think they are solving the problem.”[15]
In statistics, a long tail of some distributions of numbers is the portion of the distribution having a large number of occurrences far from the "head" or central part of the distribution. The distribution could involve popularities, random numbers of occurrences of events with various probabilities, etc.[1] A probability distribution is said to have a long tail if a larger share of population rests within its tail than would under a normal distribution. A long-tail distribution will arise with the inclusion of many values unusually far from the mean, which increase the magnitude of the skewness of the distribution.[2][3] A long-tailed distribution is a particular type of heavy-tailed distribution.
The term long tail has gained popularity in recent times as describing the retailing strategy of selling a large number of unique items with relatively small quantities sold of each—usually in addition to selling fewer popular items in large quantities. The long tail was popularized by Chris Anderson in an October 2004 Wired magazine article, in which he mentioned Amazon.com, Apple and Yahoo! as examples of businesses applying this strategy.[4][5] Anderson elaborated the concept in his book The Long Tail: Why the Future of Business Is Selling Less of More.[6][7]
The distribution and inventory costs of businesses successfully applying this strategy allow them to realize significant profit out of selling small volumes of hard-to-find items to many customers instead of only selling large volumes of a reduced number of popular items. The total sales of this large number of "non-hit items" is called "the long tail".
Given enough choice, a large population of customers, and negligible stocking and distribution costs, the selection and buying pattern of the population results in the demand across products having a power law distribution or Pareto distribution. It is important to understand why some distributions are normal vs. long tail (power) distributions. Chris Anderson argues that while quantities such as human height or IQ follow a normal distribution, in scale-free networks with preferential attachments, power law distributions are created, i.e. because some nodes are more connected than others (like Malcolm Gladwell’s “mavens” in The Tipping Point).[8][9]
The long tail concept has found some ground for application, research, and experimentation. It is a term used in online business, mass media, micro-finance (Grameen Bank, for example), user-driven innovation (Eric von Hippel), and social network mechanisms (e.g. crowdsourcing, crowdcasting, peer-to-peer), economic models, and marketing (viral marketing).
A frequency distribution with a long tail has been studied by statisticians since at least 1946.[10] The term has also been used in the finance[11] and insurance business[4] for many years. The work of Benoît Mandelbrot in the 1950s and later has led to him being referred to as "the father of long tails".[12]
Use of the phrase the long tail in business as "the notion of looking at the tail itself as a new market" of consumers was first coined by Chris Anderson.[13] The concept drew in part from a February 2003 essay by Clay Shirky, "Power Laws, Weblogs and Inequality",[14] which noted that a relative handful of weblogs have many links going into them but "the long tail" of millions of weblogs may have only a handful of links going into them. Anderson described the effects of the long tail on current and future business models beginning with a series of speeches in early 2004 and with the publication of a Wired magazine article in October 2004. Anderson later extended it into the book The Long Tail: Why the Future of Business is Selling Less of More (2006).
Anderson argues that products in low demand or that have a low sales volume can collectively make up a market share that rivals or exceeds the relatively few current bestsellers and blockbusters, if the store or distribution channel is large enough. Anderson cites earlier research by Erik Brynjolfsson, Yu (Jeffrey) Hu, and Michael D. Smith, that showed that a significant portion of Amazon.com's sales come from obscure books that are not available in brick-and-mortar stores. The long tail is a potential market and, as the examples illustrate, the distribution and sales channel opportunities created by the Internet often enable businesses to tap that market successfully.
An Amazon employee described the long tail as follows: "We sold more books today that didn't sell at all yesterday than we sold today of all the books that did sell yesterday."[15]
Anderson has explained the term as a reference to the tail of a demand curve.[16] The term has since been rederived from an XY graph that is created when charting popularity to inventory. In the graph shown above, Amazon's book sales would be represented along the vertical axis, while the book or movie ranks are along the horizontal axis. The total volume of low popularity items exceeds the volume of high popularity items.
Academic research[edit]
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Effects of online access[edit]
In his Wired article, Chris Anderson cites earlier research [17] by Erik Brynjolfsson, Yu (Jeffrey) Hu, and Michael D. Smith, who first used a log-linear curve on an XY graph to describe the relationship between Amazon.com sales and sales ranking. They found that a large proportion of Amazon.com's book sales come from obscure books that were not available in brick-and-mortar stores.
They then quantified the potential value of the long tail to consumers. In an article published in 2003, these authors showed that, while most of the discussion about the value of the Internet to consumers has revolved around lower prices, consumer benefit (a.k.a. consumer surplus) from access to increased product variety in online book stores is ten times larger than their benefit from access to lower prices online. Thus, the primary value of the internet to consumers comes from releasing new sources of value by providing access to products in the long tail.
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The longer tail over time[edit]
A recent study by Erik Brynjolfsson, Yu (Jeffrey) Hu, and Michael D. Smith[18] finds that the long tail has grown longer over time, with niche books accounting for a larger share of total sales. Their analyses suggested that by 2008, niche books accounted for 36.7% of Amazon's sales while the consumer surplus generated by niche books has increased at least fivefold from 2000 to 2008. In addition, their new methodology finds that, while the widely used power laws are a good first approximation for the rank-sales relationship, the slope may not be constant for all book ranks, with the slope becoming progressively steeper for more obscure books.
In support of their findings, Wenqi Zhou and Wenjing Duan not only find a longer tail but also a fatter tail by an in-depth analysis on consumer software downloading pattern in their paper "Online user reviews, product variety, and the long tail"[1]. The demand for all products decreases, but the decrease for the hits is more pronounced, indicating the demand shifting from the hits to the niches over time. In addition, they also observe a superstar effect in the presence of the long tail. A small number of very popular products still dominates the demand.
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Goodbye Pareto principle, welcome the new distribution[edit]
In a 2006 working paper titled "Goodbye Pareto Principle, Hello Long Tail",[19] Erik Brynjolfsson, Yu (Jeffrey) Hu, and Duncan Simester found that, by greatly lowering search costs, information technology in general and Internet markets in particular could substantially increase the collective share of hard-to-find products, thereby creating a longer tail in the distribution of sales.
They used a theoretical model to show how a reduction in search costs will affect the concentration in product sales. By analyzing data collected from a multi-channel retailing company, they showed empirical evidence that the Internet channel exhibits a significantly less concentrated sales distribution, when compared with traditional channels. An 80/20 rule fits the distribution of product sales in the catalog channel quite well, but in the Internet channel, this rule needs to be modified to a 72/28 rule in order to fit the distribution of product sales in that channel. The difference in the sales distribution is highly significant, even after controlling for consumer differences.
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Demand-side and supply-side drivers[edit]
The key supply-side factor that determines whether a sales distribution has a long tail is the cost of inventory storage and distribution. Where inventory storage and distribution costs are insignificant, it becomes economically viable to sell relatively unpopular products; however, when storage and distribution costs are high, only the most popular products can be sold. For example, a traditional movie rental store has limited shelf space, which it pays for in the form of building overhead; to maximize its profits, it must stock only the most popular movies to ensure that no shelf space is wasted. Because online video rental provider (such as Amazon.com or Netflix) stocks movies in centralized warehouses, its storage costs are far lower and its distribution costs are the same for a popular or unpopular movie. It is therefore able to build a viable business stocking a far wider range of movies than a traditional movie rental store. Those economics of storage and distribution then enable the advantageous use of the long tail: for example, Netflix finds that in aggregate, "unpopular" movies are rented more than popular movies.
An MIT Sloan Management Review article titled "From Niches to Riches: Anatomy of the Long Tail"[20] examined the long tail from both the supply side and the demand side and identifies several key drivers. On the supply side, the authors point out how e-tailers' expanded, centralized warehousing allows for more offerings, thus making it possible for them to cater to more varied tastes.[21]
On the demand side, tools such as search engines, recommendation software, and sampling tools are allowing customers to find products outside their geographic area. The authors also look toward the future to discuss second-order, amplified effects of Long Tail, including the growth of markets serving smaller niches.
Not all recommender systems are equal, however, when it comes to expanding the long tail. Some recommenders (i.e. certain collaborative filters) can exhibit a bias toward popular products, creating positive feedback, and actually reduce the long tail. A Wharton study details this phenomenon along with several ideas that may promote the long tail and greater diversity.[22]
A recent study Conducted by Wenqi Zhou and Wenjing Duan[23] further points out that the demand side factor (online user reviews) and the supply side factor (product variety) interplay to influence the long tail formation of user choices. Consumers' reliance on online user reviews to choose products is significantly influenced by the quantity of products available. Specifically, they find that the impacts of both positive and negative user reviews are weakened as product variety goes up. In addition, the increase in product variety reduces the impact of user reviews on popular products more than it does on niche products.
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Networks, crowds, and the long tail[edit]
The "crowds" of customers, users and small companies that inhabit the long-tail distribution can perform collaborative and assignment work. Some relevant forms of these new production models are:
The peer-to-peer collaboration groups that produce open-source software or create wikis such as Wikipedia.
The crowdsourcing model, in which a company outsources work to a large group of market players using a collaborative online platform.
The model of crowdcasting, is the process of building a network of users and then delivering challenges or tasks to be solved with the purpose of gaining insights or innovative ideas.
Work performed by individuals in commons-like, non-market networks, described in the work of Yochai Benkler.[24]
The demand-side factors that lead to the long tail can be amplified by the "networks of products" which are created by hyperlinked recommendations across products. An MIS Quarterly article by Gal Oestreicher-Singer and Arun Sundararajan shows that categories of books on Amazon.com which are more central and thus influenced more by their recommendation network have significantly more pronounced long-tail distributions. Their data across 200 subject areas shows that a doubling of this influence leads to a 50% increase in revenues from the least popular one-fifth of books.[25][26]
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Turnover within the long tail[edit]
The long-tail distribution applies at a given point in time, but over time the relative popularity of the sales of the individual products will change.[27] Although the distribution of sales may appear to be similar over time, the positions of the individual items within it will vary. For example, new items constantly enter most fashion markets. A recent fashion-based model [28] of consumer choice, which is capable of generating power law distributions of sales similar to those observed in practice,[29] takes into account turnover in the relative sales of a given set of items, as well as innovation, in the sense that entirely new items become offered for sale.
There may be an optimal inventory size, given the balance between sales and the cost of keeping up with the turnover. An analysis based on this pure fashion model[30] indicates that, even for digital retailers, the optimal inventory may in many cases be less than the millions of items that they can potentially offer. In other words, by proceeding further and further into the long tail, sales may become so small that the marginal cost of tracking them in rank order, even at a digital scale, might be optimised well before a million titles, and certainly before infinite titles. This model can provide further predictions into markets with long-tail distribution, such as the basis for a model for optimizing the number of each individual item ordered, given its current sales rank and the total number of different titles stocked.
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Business models[edit]
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Competitive impact[edit]
Before a long tail works, only the most popular products are generally offered. When the cost of inventory storage and distribution fall, a wide range of products become available. This can, in turn, have the effect of reducing demand for the most popular products. For example, small website that focus on niches of content can be threatened by the larger website which has the variety of information (such as Yahoo) Web content. The big website cover more variety while the small website has only a few niches to choose from.
The competitive threat from these niche sites is reduced by the cost of establishing and maintaining them and the bother required for readers to track multiple small Web sites. These factors have been transformed by easy and cheap Web site software and the spread of RSS. Similarly, mass-market distributors like Blockbuster may be threatened by distributors like LoveFilm, which supply the titles that Blockbuster doesn't offer because they are not already very popular.
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Internet companies[edit]
Some of the most successful Internet businesses have used the long tail as part of their business strategy. Examples include eBay (auctions), Yahoo! and Google (web search), Amazon (retail), and iTunes Store (music and podcasts), amongst the major companies, along with smaller Internet companies like Audible (audio books) and LoveFilm (video rental). These purely digital retailers also have almost no marginal cost, which is benefiting the online services, unlike physical retailers that have fixed limits on their products. The internet can still sell physical goods, but at an unlimited selection and with reviews and recommendations.[31] The internet has opened up larger territories to sell and provide its products without being confined to just the "local Markets" such as physical retailers like Target or even Walmart. With the digital and hybrid retailers there is no longer a perimeter on market demands.[32]
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Video and multiplayer online games[edit]
The adoption of video games and massively multiplayer online games such as Second Life as tools for education and training is starting to show a long-tailed pattern. It costs significantly less to modify a game than it has been to create unique training applications, such as those for training in business, commercial flight, and military missions. This has led some[who?] to envision a time in which game-based training devices or simulations will be available for thousands of different job descriptions.[citation needed]
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Microfinance and microcredit[edit]
The banking business has used internet technology to reach an increasing number of customers. The most important shift in business model due to the long tail has come from the various forms of microfinance developed.[citation needed]
As opposed to e-tailers, micro-finance is a distinctly low technology business. Its aim is to offer very small credits to lower-middle to lower class and poor people, that would otherwise be ignored by the traditional banking business. The banks that have followed this strategy of selling services to the low-frequency long tail of the sector have found out that it can be an important niche, long ignored by consumer banks.[33] The recipients of small credits tend to be very good payers of loans, despite their non-existent credit history. They are also willing to pay higher interest rates than the standard bank or credit card customer. It also is a business model that fills an important developmental role in an economy.[34]
Grameen Bank in Bangladesh has successfully followed this business model. In Mexico the banks Compartamos and Banco Azteca also service this customer demographic, with an emphasis on consumer credit. Kiva.org is an organization that provides micro credits to people worldwide, by using intermediaries called small microfinance organizations (S.M.O.'s)to distribute crowd sourced donations made by Kiva.org lenders.
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User-driven innovation[edit]
According to the user-driven innovation model, companies can rely on users of their products and services to do a significant part of the innovation work. Users want products that are customized to their needs. They are willing to tell the manufacturer what they really want and how it should work. Companies can make use of a series of tools, such as interactive and internet based technologies, to give their users a voice and to enable them to do innovation work that is useful to the company.
Given the diminishing cost of communication and information sharing (by analogy to the low cost of storage and distribution, in the case of e-tailers), long-tailed user driven innovation will gain importance for businesses.
In following a long-tailed innovation strategy, the company is using the model to tap into a large group of users that are in the low-intensity area of the distribution. It is their collaboration and aggregated work that results in an innovation effort. Social innovation communities formed by groups of users can perform rapidly the trial and error process of innovation, share information, test and diffuse the results.
Eric von Hippel of MIT's Sloan School of Management defined the user-led innovation model in his book Democratizing Innovation.[35] Among his conclusions is the insight that as innovation becomes more user-centered the information needs to flow freely, in a more democratic way, creating a "rich intellectual commons" and "attacking a major structure of the social division of labor".
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Marketing[edit]
The drive to build a market and obtain revenue from the consumer demographic of the long tail has led businesses to implement a series of long-tail marketing techniques, most of them based on extensive use of internet technologies. Among the most representative are:
New media marketing: The building and managing of social networks and online or virtual communities to extend the reach of marketing to the low-frequency, low-intensity consumer in a cost-effective way, often through blogs, RSS feeds and podcasts.[citation needed]
Buzz marketing: The strategic use of word of mouth and transmission of commercial information from person to person in an online or real-world environment.
Viral marketing: The intentional spreading of marketing messages using preexisting social networks, with an emphasis on the casual, non-intentional and low cost, commonly through YouTube videos, viral emails and standalone microsites.
Pay per click and search engine optimization: The marketing of websites on search engines such as Google, Yahoo and Bing by focusing on long-tail keywords which have less competition.
Demand-side platforms/DSPs: Similar to how search engine marketing monetizes the long tail of keywords, auction-oriented buying/selling mechanisms are also viable to help monetize the long tail of ad impressions available across niche publishers in the display advertising realm. Publishers utilize these ad exchange environments, such as Right Media or AdECN, to efficiently sell display inventory that might otherwise go unsold through direct sales force operations. As a result, by January 2011 between 20–25% of all US ad spending was derived from long tail advertisers.[36]
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Cultural and political impact[edit]
The long tail has possible implications for culture and politics. Where the opportunity cost of inventory storage and distribution is high, only the most popular products are sold. But where the long tail works, minority tastes become available and individuals are presented with a wider array of choices. The long tail presents opportunities for various suppliers to introduce products in the niche category. These encourage the diversification of products. These niche products open opportunities for suppliers while concomitantly satisfying the demands of many individuals – therefore lengthening the tail portion of the long tail. In situations where popularity is currently determined by the lowest common denominator, a long-tail model may lead to improvement in a society's level of culture. The opportunities that arise because of the long tail greatly affect society's cultures because suppliers have unlimited capabilities due to infinite storage and demands that were unable to be met prior to the long tail are realized. At the end of the long tail, the conventional profit-making business model ceases to exist; instead, people tend to come up with products for varied reasons like expression rather than monetary benefit. In this way, the long tail opens up a large space for authentic works of creativity.
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Cultural diversity[edit]
Television is a good example of this: Chris Anderson defines long-tail TV in the context of "content that is not available through traditional distribution channels but could nevertheless find an audience."[37] Thus, the advent of services such as television on demand, pay-per-view and even premium cable subscription services such as HBO and Showtime open up the opportunity for niche content to reach the right audiences, in an otherwise mass medium. These may not always attract the highest level of viewership, but their business distribution models make that of less importance. As the opportunity cost goes down, the choice of TV programs grows and greater cultural diversity rises.
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Distribution of independent content[edit]
Often presented as a phenomenon of interest primarily to mass market retailers and web-based businesses, the long tail also has implications for the producers of content, especially those whose products could not – for economic reasons – find a place in pre-Internet information distribution channels controlled by book publishers, record companies, movie studios, and television networks. Looked at from the producers' side, the long tail has made possible a flowering of creativity across all fields of human endeavour.[citation needed] One example of this is YouTube, where thousands of diverse videos – whose content, production value or lack of popularity make them inappropriate for traditional television – are easily accessible to a wide range of viewers.
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Contemporary literature[edit]
The intersection of viral marketing, online communities and new technologies that operate within the long tail of consumers and business is described in the novel by William Gibson, Pattern Recognition.
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Military applications and security[edit]
In military thinking, John Robb applies the long tail to the developments in insurgency and terrorist movements, showing how technology and networking allows the long tail of disgruntled groups and criminals to take on the nation state and have a chance to win.
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Criticisms[edit]
A 2008 study by Anita Elberse, professor of business administration at Harvard Business School, calls the long tail theory into question, citing sales data which shows that the Web magnifies the importance of blockbuster hits.[38] On his blog, Chris Anderson responded to the study, praising Elberse and the academic rigor with which she explores the issue but drawing a distinction between their respective interpretations of where the "head" and "tail" begin. Elberse defined head and tail using percentages, while Anderson uses absolute numbers.[39] Similar results were published by Serguei Netessine and Tom F. Tan, who suggest that head and tail should be defined by percentages rather than absolute numbers.[40]
Also in 2008, a sales analysis of an unnamed UK digital music service by economist Will Page and high-tech entrepreneur Andrew Bud found that sales exhibited a log-normal distribution rather than a power law; they reported that 80% of the music tracks available sold no copies at all over a one-year period. Anderson responded by stating that the study's findings are difficult to assess without access to its data.[41][42]