How do take traditional media which is today whether print, online, tv or mobile are looking for a business model(s)? Behavioral signals are the persuasive technologies that when aggregated into markets and close the loop around prosumers are the gap and the opportunity. Think Airbnb, Uber, Solar City, etc.
Everything seems on 24 x 7 x 365. From World Cup 2014 in Brazil to climate heatwave in India to President Obama announcing a $1B challenge for attacking climate change to the past impact of wars and challenges taking place around the world. From social networks to mobile phones, wearable technologies and drones, the velocity and network effect of behavioral signals is on the rise and traditional ecosystems are increasingly being left out. But so are the very people that are creating the impact. This is the opportunity.
To understand the scale of media as an industry and opportunity there is an excellent analysis and report of digital media profit pool by Booz & Co., highlights the scale of the opportunity and disruption.
Profit Migration in the Digital Economy (Originally published by Booz & Company: August 3, 2011)
“Profits for digital economy players have grown from US$498 billion on $3.7 trillion in revenue in 2002 to $726 billion on $4.3 trillion in 2010. But the benefits have not been distributed equally. This Perspective analyzes the relative changes in profitability among the six segments of the digital economy’s value chain.”
To start off with a story line we picked this and move on to onions in India as food access and prices are one of the most critical topics on everyone’s agenda. Governments, people, farmers and investors.
HOW A NETWORK OF INDIAN FARMERS MADE MONEY IN 2012 USING MOBILES AND FACEBOOK?
Whether its news of protests in Brazil over the world cup or food inflation in India or climate change in North America or losses of companies trading on stock exchanges, reports are the medium to deliver the message. However with the advent of social media the opportunity to crowdsource events changed the economics of sourcing a content, but what did not change are the reality of business models. This impacts opportunities opportunities in the hundreds of millions peoples lives and dollars every day.
Today’s business models are impacted by drastically lower costs of traditional models such as television and print but social models have produced the volume of data not seen before but the impact of the same is the next challenge in creating value for all. So what is the API that could alter the next business models for content across ecosystems?
However the opportunity to connect upstream content into downstream markets via midstream production, with one critical change. Every producer is also also a consumer and “prosumers” create #circularity. Now the people, communities and regions creating the news are also the receivers of the solution and where local, regional and global ecosystem collaborating to be part of the opportunity and solution.
Now imagine the behavioral signals that are now aggregated into markets? Will this then include the producers and consumers of those signals. Where hyperlocally ecosystems collaborate that create value with each other and these ecosystems whether local, regional or global have the API to collaborate, but with the core of impacting and participating in the behavioral markets.
We took the story of onions in India as this was a good example to deal with and a loop of how a startup called Premise is attempting to address this and a good start but still lacks the circularity? Because the producers and consumers of the signals are still left out of the loop which is the critical mile!
However as a case in point this the the opportunity. The core at stake is the chance to create an impact that can leverage behavioral signals as predictive or reactive analytics to adapt to events as they happen. What and who is at stake here? Everyone on the planet!
Concluding from our work.
The key technologies are a behavioral-centric approach. How to convert behavioral-signals into markets. This what and where the real disruption is. This is a new headline read it a few hours ago, yet another clear example of how behavioral signals are creating new markets and the old yielding to the new.
http://venturebeat.com/2014/06/15/lucid-buildings-funding/ (image from VB)
Keeping everyone updated on our work.
DESIGNING FOR “BEHAVIOR”
“ALIA EST DIFFERENTIA”, OTHER THINGS BEING VARIABLE, IS THE VISIBLE HAND OF ECONOMICS
BEHAVIORAL WEATHER PATTERNS AS ECONOMIC SIGNALS