The document discusses the need for a solution to aggregate and analyze online product reviews in order to provide personalized and trustworthy recommendations that help reduce consumer indecision and returns. It outlines key features of the proposed solution and lessons learned from initial market research, including the importance of consensus and sharing non-technical user experiences. Next steps discussed include further market research and exploring options like algorithm licensing.

1. We speed up the decision making process.
Melanie Alex Xiaodi Victor
B.S., Chem. Junior, CS B.S., Eng. B.S., BEM
Ph.D., Chem. Grad. Student, CNS
1

2. Before making a product purchase:
>65% of all consumers read online reviews*
* From online research(2010)

3. >80% of consumers say a negative or positive review
will influence their decisions
>125 MILLION Americans CARE
what online reviews say!

4. Of the 94 people we asked this week:
• 95% say they read online reviews for consumer
electronic products
• >75% of those said consensus matters
• One company says consensus means >20 reviews for
their users
consensus – lots of typical user experiences

5. What happens when consensus is not reached?
• Consumers face indecision
• Indecision is very important to online retailers
• Returned goods
• Website providing a similar solution has observed a 50%
reduction in return rates

6. Sony BRAVIA KDL55HX850 55-Inch 240Hz 1080p 3D LED Internet TV

7. Sony BRAVIA KDL55HX850 55-Inch 240Hz 1080p 3D LED Internet TV
Amazon Amazon 18
CNET 6
Sony 9
Pricegrabber 1
Pcmag 1
Tvbestcovery.com 1
Youtube 3
Total: 39
Consensus!!!
AlaTest
Total: 198 reviews

8. Companies are already doing this
Company Investment (MM) Buyout (MM)
Hunch 19.2 80 (eBay)
gdgt 3.72
FindTheBest 6M
Decide 8.5
Sparkbuy 1M 6 (Google)

9. MAX
Key Partners
6
Key

Activities 7
• Design the
Business Model Canvas Day 1
Value Propositions 1
Problem: frustration with online
electronic reviews since no
Customer
Relationships 4
• Publicize on
Customer
Segments 2
Amazon Consumer
CNET platform central source exists that: trending key words electronics users
Newegg • Optimizing • filters fake reviews & word of mouth
Engadget UI/UX, and AI • sorts by key words Young, tech-savvy
• Publicity & • Building trust and
Gizmodo • normalizes reviews convenience to
customers
and more….. Partnership
Development increase the
Needs: save wasted time spent Provide condensed,
stickiness
on visiting multiple sites and organized and
Key mentally filtering spam reviews trustworthy
Resources 8 information from
Technology Key Features: aggregated data Channels 3 product reviews
(web scraper) that provides:
• Website
Some • personalized ranking of reviews
Financial • any statistically significant • Mobile apps
resources product failure/design flaw
• Social networks
• channel to issue a complaint
(reports and
Cost Structure 9 infographs)
Possible contracts with key partners
Internet infrastructures
Operational cost Revenue Streams 5
Annotation cost Affiliate marketing / Selling data / Selling service
Advertising 9

10. Business Model Canvas Day 2
Key Key Value Propositions 1 Customer Customer
Partners Activities 7 Problem: frustration with online Relationships 4 Segments 2
6 • Design the electronic reviews since no central • Publicize on Consumer
platform source exists that: trending key words electronics users
Amazon
• Optimizing • filters fake reviews & word of mouth
CNET
UI/UX, and AI • sorts by key words (customizable) Young, tech-savvy
Newegg
• Publicity & • normalizes reviews delivers • Building trust and
Engadget customers
Partnership detailed technical information convenience to
Gizmodo increase the
Development Needs: save wasted time spent on Amazon
and stickiness
more….. visiting multiple sites and mentally CNET
Key filtering spam reviews Newegg
Resources 8 • aggregate all reviews Engadget
Technology • prioritize detailed, intelligent reviews Channels 3 Gizmodo
(web scraper) with informational value • Website and more…..
Some • collapse but include general ones
Financial (consensus is important) • Mobile apps Provide condensed,
resources organized and
Key Features: aggregated data that • Social networks trustworthy
provides: (reports and information from
Cost Structure 9  personalized ranking of reviews infographs) product reviews
Contracts with key partners  statistically significant product
Internet infrastructures failure/design flaws
Operational cost  channel to issue a complaint Revenue Streams 5
Annotation cost  detailed comparison of products Affiliate marketing / Selling data /
Advertising Selling service 10

11. Business Model Canvas Day 3
Key Key Value Propositions 1 Customer Customer
Partners Activities 7 Problem: frustration with existing
Relationships 4 Segments 2
6 • Design the online electronic resources. • Publicize on
platform trending key words Discerning
Amazon •Time consuming
• Optimizing & word of mouth customers
CNET •Information overload
UI/UX and AI •Lacking confidence
Newegg
• Publicity & • Building trust and
Engadget Problems/Needs: convenience to
Partnership
Gizmodo • Delay in purchasing increase stickiness Amazon
Development
and • Creating new customers CNET
more….. Newegg
Key Engadget
Key Features:
Resources 8  Credible
Channels 3 Gizmodo
Technology • Website …
 Personalized
(web scraper) • Mobile apps
 Comparison of ‘soft’ specifications
Financial • Social networks
 Uncover product failure
resources (reports, infographs)
Direct Contact
Cost Structure 9
Contracts with key partners
Revenue Streams 5
Internet infrastructures
Operational cost Affiliate marketing / Selling data /
Annotation cost Selling service
Advertising
11

12. Business Model Canvas Day 4
Key Key Value Propositions Customer Customer
Partners Activities Problem: frustration with existing
Relationships Segments
Amazon • Design the online electronic resources. • Publicize on
platform trending key words Discerning
CNET customers
Newegg • Optimizing Problems/Needs: & word of mouth
Engadget UI/UX and AI
• Publicity & • Personalization • Building trust and
Gizmodo convenience to
and Partnership
• Delay in purchasing increase stickiness Amazon
more….. Development
CNET
• Creating new customers Newegg
Key Engadget
Resources Channels Gizmodo
Technology Key Features: • Website
(web scraper) • Mobile apps LinkedIn
Financial  Personalized Airbnb
• Social networks
resources (reports, infographs)
 Comparison of ‘soft’ specifications
Direct Contact
License IP?
Cost Structure Need more data!
Contracts with key partners
Internet infrastructures
Operational cost
Annotation cost Revenue Streams
Affiliate marketing / Selling data / Selling service/License IP 12

13. Business Model Canvas Day 5
Key Key Value Propositions Customer Customer
Partners Activities Problem: frustration with existing
Relationships Segments
Amazon • Design the online electronic resources. • Publicize on
platform trending key words Discerning
CNET customers
• Optimizing Problems/Needs: & word of mouth
Newegg
Engadget UI/UX and AI
• Indecision • Building trust and
Gizmodo • Publicity &
• Product Returns convenience to
and Partnership
• Lack resources to develop similar increase stickiness Amazon
more….. Development
algorithm CNET
• Creating new customers Newegg
Key Engadget
Resources Key Features: Channels Gizmodo
Technology  Personalized • Website
(web scraper)  Comparison of ‘soft’ specifications • Mobile apps LinkedIn
Financial  Uncover product failures • Social networks Airbnb
resources (reports, infographs)
Direct Contact
License IP?
Cost Structure Need more data!
Contracts with key partners
Internet infrastructures
Operational cost
Annotation cost Revenue Streams
Affiliate marketing / Selling data / Selling service/License IP 13

14. The Solution
Key Features
• Personalized
• Sort by ‘soft parameters’ in addition to tech specs
• Allows comparisons on these ‘soft’ parameters
Soft parameters – Info regarding usability of product not provided by a spec sheet.
e.g., how hard is it to unbox 55” tv?

15. What we’ve learned
• Indecision is a big problem for online retailers
• Consensus – people want non technical user experience
• Returns are an issue too
• Fake reviews don’t matter
• Not just Tech savvy users are frustrated
• Focus on Consumer electronics (because fastest growing
online segment)

16. Next steps
• More market research since our target market
is much larger than what we have sampled
• Speak to more experts in the field
• Speak to businesses that have a small
presence on Amazon
• Explore algorithm licensing option