Future of Technology

Today i am going to talk about the future with technology and how I feel it will be in the next 20 years. So many people had technology devices and now in days the younger kids have them as well. the digital world is growing like crazy and and it is just gonna keep growing.

You see technology everywhere these days. from driving to work to even school. The rise of technology is so crazy and it isn’t going to stop anytime soon. From even comparing it to the older days when the phones had a long spiral cord and it was connected to the wall. And the tvs back then only had 3 different channels. Compared to now that is very different. But now there is every size cellphone and tv out there. It is so crazy the different amounts of phones these days and they keep coming up with more and more. Technology if it keeps growing I am scared to see what it will be like in 20 years.

With technology constantly changing the best part is it keeps improving itself and better things come out of it then. Like the camera on the Iphone and the tv screens being curved. What are the tvs going to look like in 20 years? I am excited to see what they look like.

It is so crazy to think about the technology in the next 20 years and what it will be like. I feel it is totally fine right now. Technology these days people want them to be larger and slim like cellphones and TVs. I feel when people will look back and see what the future is like today it will be such a shocker. Just talking to my parents and hearing about their technology and what they had to deal with sounds like it sucks but in todays world we are all about technology and this generation struggles with face to face talking because they rely on their phones too much. I know I struggle with talking face to face because I do use my phone a lot for communication. We will have to learn how to adapt to the new products and changes. I really want to see what the phones look like in 20 years. Because right now they keep adding things like better cameras but what are they gonna add in 20 years? Who knows????

Overall, I feel like technology is going to change drastically within the next 20 years and it may be a good thing or even a bad thing. I personally think right now the technology is fine but they always want something better so they keep creating new products to up the product that was just made. In the future nobody will ever talk face to face and just use technology to talk. I wish I could talk face to face better but in this generation kids struggle with it and I really have to focus and not always texting and sometimes talk face to face with someone and not hide behind my phone.

“Intelligence is the source of technology. If we can use technology to improve intelligence, that closes the loop and potentially creates a positive feedback cycle.”

Eliezer Yudkowsky
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Future of Technology

Chapter 14 & 15 Vocab- Marketing Analytics

Hello I am back with some vocab terms from chapters 14 & 15. I have chose words that I either did not know or words that I wanted to dig deeper into. So here we go.

Correlation-

Correlation is a relationship or connection between two or more things. Correlation is a statistical technique that shows whether and how strong pairs of variables are related. Like for example, height and weight are related. There are several different correlation techniques. Correlation is only appropriate for certain types of data. Correlation works for quantifiable data in which numbers are meaningful,usually quantities of some sort. It CANNOT be used for categorical data, such as gender, brands purchased, or favorite color.

Marketing Mix-

The marketing mix and the 4P’s of often used as synonyms for one another. However, they are not necessarily the same thing. “Marketing Mix” is a general phrase used to describe the different kinds of choices. The 4P’s is one way to best describe the marketing mix.

The 4P’s are…

  • Product
  • Place
  • Price
  • Promotion

A good way to understand the 4P’s is by the questions that you need to ask to define your marketing mix.

Product- refers to the item actually being sold. The product must deliver a minimum level of performance otherwise even the best work on the other elements of the marketing mix wont do any good.

Place- refers to the point of sale. In every industry catching the eye of the consumer and making it easy for them to buy it is the main aim of a good distribution. Retailers pay a premium for the right location.

Price- refers to the value that is put for a product. It depends on costs of production, segment target, ability of market to pay, supply and demand and other factors. There can be several types of pricing strategies which each are tied in with the overall business plan. Pricing can also enhance the image of a product.

Promotion- this refers to all the activities used to make the product or service known to the user and trade. This includes advertising, word of mouth, press reports ect. This also can can include consumer schemes, direct marketing and contests and prizes.

The importance of the marketing mix is all the different elements influence each other. The all make up the business plan for a company and if all handled right it can lead to great success. However, if handled wrong the business could take years to recover from it. The marketing mix needs a lot of understanding, research and consultation with several different people. from users to trade to manufacturing and several others.

Scientific Notation-

Scientific Notation is a way of writing very big or very small numbers. A number is written in scientific notation when a number between 1 and 10 is multiplied by a power of 10. Scientific notation is a way to make numbers easier to work with. In scientific notation you move the decimal place until you have a number between 1 and 10. Then add the power of 10 that tells you how many places you moved the decimal.

“Success usually comes to those who are too busy to be looking for it.”

Henry David Thoreau

Overall, both chapters had so many great vocab words and I enjoyed learning new words as well and refreshing my mind about what some of them met.

Chapter 14 & 15 Vocab- Marketing Analytics

Chapter 6 & 7- Engagement Strategies

This week I am going to talk about the main points from both chapters and explain my opinions of the chapters.

Chapter 6

Mobile Advertising Players

  • People– Customers or the future customers that represent individuals like you or me who are consuming online content like news articles, search results and videos and games.
  • Buyers– There are two types of companies that do buy marketing services.
    • Marketers are advertisers and brands and retailers that want to expose people to their company. Marketers are people that write the checks that pay for advertising.
    • Agencies are companies that represent marketers and can help them with all parts of mobile advertising. Like strategy, planning, creative development, ad placement, execution measurement and analytics.
  • Sellers– Companies that represent media and the digital channels in advertising. They are divided into 3 sections publishers, networks and exchanges.
    • Publishers- Publishers are companies that do own media properties like websites, games, apps, and media sites. These are things that attract audiences. There are so many different publishers out there.
    • Networks- These connect advertisers to all the publishers out there in the world.
    • Exchanges- This is companies the aggregate networks. Networks come in different sizes and types.
  • Enablers– This is technology that helps power different mobile experiences like messaging, websites and apps
  • Associates– These are organizations that help stimulate different market growth by developing standards, consulting and policies.

This explains the process of mobile advertising players in general and what they all do for one another.

Mobile Experiences

  • Text- areas you can put letters or words
  • Display- what you see
  • Rich media- interactive advertising like text, image, audio and video
  • Audio- the sounds you hear
  • Video- video clips designed to promote something
  • Incentivized media- a form of rich media or video that offers incentives, free credit or coupons.

The areas that ads are placed is important so that people do see that and that they do affect people. If ads are placed randomly then it would just not make sense at times when you see a random ad that is placed.

Some different locations that ads are placed are headers or footers or sidebars, home screen.

Mobile advertising metrics:

  1. Number of impressions- how many people viewed an ad
  2. Location- general location
  3. Publisher- content publisher who is generating ad traffic
  4. Number of engagements- amount if people who interacted with the ad
  5. Dwell time- home much time is spent with the ad
  6. Completion rates- amount of users who completed the entire experience
  7. Spending- total cost-per-clicks

These are all different analytics that companies should keep track of just to make sure your business is growing and more and more people are interacting with your ad.

Chapter 7

There are 4 different influencers for mobile experience and they are government laws & regulations, corporate policies, industry guidelines and standards and lastly people and their expectations.

People and their expectations– consumers influence marketing directly through their expectations and reactions to what marketers do and the products they offer

Government- the people that have been elected who establish and execute laws and regulations that relate to mobile.

Corporations– commercial companies like Google that provide goods and services.

Industry- non-governmental organizations that help organize industry dialog with best practices market development and regulatory standards.

Each one of these groups influence how the mobile industry runs and acts in their own way.

“Mobile is not the future, it is the NOW. Meet your customers in the environment of their choice, not where it’s convenient for you.”

Cyndie Shaffstall

Overall, both chapters had so much great information in them and while reading I learned a lot and I think you probably did as well!

Chapter 6 & 7- Engagement Strategies

Chapter 12 & 13 Vocab- Marketing Analytics

Welcome Back! Today I am going to talk about some of the main keywords from chapters 12 & 13 that I did not know or words that i would like to dig deeper and explain a little more! So here we go!

Brand Recognition

Brand Recognition is also known as brand awareness. This is when customers are able to recall or recognize a brand. Brand awareness is key consideration in consumer behavior, advertising management, brand management and strategy development. If brand recognition is done correctly, your product should be recognized even without using the name. The goal is to get potential customers to recognize the product instantly without much effort. This makes me think about that game that you could download that you had to figure out different logos. An example of one most people know is the golden arches which is McDonalds.

https://www.kashflow.com/blog/the-importance-of-brand-awareness/

Campaign Life Cycle

Life cycle marketing campaign has 6 steps

  1. Grow your opt-in list: This should be a constant effort managed by marketing, sales and client success teams.
  2. Determine your campaign goal: Looking to up sell or cross sell current clients? This goal should/ will impact content and audience. Set a clear goal and timeline.
  3. Define the audience and create the segment: The campaign content should be dependent on who you are trying to reach. Customers should receive a completely different type of communication than prospects.
  4. Create a strong campaign: Campaigns are created with the intention of building engagement and moving contacts into the next stage level. In order to do this you will need to nurture and build engagement with contacts throughout the campaign.
  5. Automate campaign tactics: Marketing automation is extremely helpful in helping marketers to reach the right people at the right time with the right message. Through automation, campaigns can run on their own and even provide daily or weekly reports to marketing and sales teams to show them their value.
  6. Track campaign effectiveness: Constant monitoring is very critical.
https://www.slideshare.net/Datarati/success-campaign-strategies-for-all-stages-of-the-customer-lifecycle

Margin

Margin is the money borrowed from a brokerage firm to purchase an investment. It is the difference between the total value of securities held in the investors account and the loan amount from the broker. Buying on margin is borrowing money to buy securities. This involves buying an asset where the buyer pays only a percentage of the asset’s value and borrow the rest from the bank or the broker. The broker acts as a lender and the securities in the investors account act as collateral.

Key takeaways:

  1. A margin refers to the money borrowed from a brokerage to buy securities.
  2. A margin account is a standard brokerage account in which an investor is allowed to use the current cash or securities in their account as collateral for a loan.
  3. The collateralized loan comes with an interest rate that the investor must repay the broker.
  4. Because they are using borrowed money the investors profits or losses are likely to be magnified.

Bayesian Statistics

Bayesian Statistics is a theory in the field of statistics based on the Bayesian interpretation of probability where probability expresses a degree of belief in an event, which can change as new information is gathered, rather than a fixed value. Bayesian statistics provides us with mathematical tools to rationally update our subjective beliefs in data.

T-Test

A T-test is any statistical hypothesis test. A T-test is most commonly applied when the test statistic would follow a normal distribution if the value of a scaling term were known. A t-test is a type of inferential statistic used to determine if there is a significant difference between the two means of two groups which may be related in certain features. The t-test is one of many tests used for the purpose of hypothesis testing in statistics. There are several different types of t-tests that can be performed depending on the data and type of analysis required.

“Take a risk and keep testing, because what works today won’t work tomorrow, but what worked yesterday may work again.”

Amrita Sahasrabudhe

Type I & Type II Errors

Type I error: When the hypothesis is true you reject it makes it a type I error.

Type II error: When the hypothesis is false and you fails to reject it, you make it a type II error.

Overall, with both chapters there were keywords that I did not understand so I looked them up and dug deeper so I could understand them better. It is so much easier to read the chapters and understand them when you understand the vocab that goes with the chapter.

Chapter 12 & 13 Vocab- Marketing Analytics

6 Mobile Marketing Trends- Engagement Strategies

In this blog post I will be discussing the article of the 6 trends that will shape mobile marketing in 2019. The article states what they think will happen with mobile marketing for 2019.

Trend #1- Mobile Video

Mobile Video has made a big impact on 2018 and it is just gonna a bigger impact on 2019. It is just becoming easier with all the different social media platforms that are out there. I personally watch videos on my phone daily. Either on Facebook or Instagram. Those videos are the shorter ones that just show what they need and move on but the longer videos like on YouTube and Netflix I usually watch on my Macbook because then the screen is bigger and it is easier to watch because I don’t have to hold my computer.

When it comes to Facebook Watch and Instagram’s IGTV those should grow and be successful. They are struggling toto get going. I have never even hear of either one of these so that means they have not advertised them very often. Then need to get it out there and put in peoples feed so they can learn about what they all entail and grow. Both of these have an ability to grow but, they need to get the names out there so people do go find out what they are. They just need to promote more aggressively.

Trend # 2- Voice Tech

https://www.mobihealthnews.com/content/voice-tech-gearing-its-next-wave

Voice tech is like using Alexa or the Amazon Echo. I feel like people are buying these more often now once they see or hear someone else use one. I think they are pretty nice and very convenient. The smart speaker is just waiting there to help with something like play music or set a reminder or even ask what the weather is going to be like. I think this trend will keep growing and even more voice tech speakers will be created. I have a feeling Apple will come out with one at some point. It is nice because it is hands free and fast for everyone in this technology based world.

Trend #3- Social Commerce

In this generation social media platforms are just becoming the usual for marketing. Personally my newsfeed on Facebook and Instagram always has different ads to “shop now”. This makes shopping super easy and gets people to engage within different products that are trying to be sold. Most of the shopping online is a one step process and takes you directly to the page where you then can pick out what style product you want and then right then and there you can purchase it. I have clicked on an ad and it did take me to just the normal website and not product specific so then I had to sit and search for that product and by then I totally forgot what product I was looking for or found a different product I like. The one step process is way easier and I feel like more companies will focus more on that because it is easier and quicker.

Trend #4- Influencer Marketing

Influencer marketing is just going to keep growing and be used more often. Marketers will be looking more at influencers to help them grow but also focus on going small. They need to focus on the “small” which means touching more locally. Focus on specific areas rather than being very general. I feel this will work because the more specific you the the more people you can touch because they are focusing on different groups and communities.

Trend #5- 5G

With 5G it will make everything faster like downloads up to 10x faster. The faster speeds will make marketers be able to dig deeper into different things. This will also give a better experience for mobile users. 5G is also supposed to expand the amount of different games for mobile devices. It is predicted to be faster than 4G and grow with connected devices like cars, speakers, headphones.

Trend #6- AR

https://searchengineland.com/augmented-reality-now-280884

AR as known as Augmented Reality is continuously growing. It is so cool that you can mix the real world with digital just by using the camera on your mobile phone. I can’t wait to see where this takes the world and how much they will rely on it in the future.

Overall, I thought this article was very interesting and I did learn a lot while reading it. All the statistics were fun to read. I am excited to see where mobile marketing takes us even in 2019. It is fun to compare what mobile marketing was like even growing up to now. It is so different and is growing a very large amount.

” If your plans don’t include mobile, your plans are not finished”

Wendy Clark
6 Mobile Marketing Trends- Engagement Strategies

Vocab Blog Post #4- Marketing Analytics

I am back everyone!! I am here today to explain some of the vocab words that stuck out to me through chapters 9, 10 and 11. I am going to do the vocab words that I struggled with understanding or words that I did not know.

Before-After Experimental Design

A before and after study measures at two different times. The first time point is before the study starts. The second time point is after the study starts. The goal of this design is to examine if the exposure has changed over time.

The first point is the “before” and the second point is the “after”

For this experiment design you compare subjects before and after they get treatment. This is the most popular evaluative method that is used. This is popular in clinical studies to see what a treatment does before and after.

Advantages:
  • Overcome ethical concerns
  • Low cost
  • Convenient
  • Simple
Disadvantages:
  • Lack of comparison or control group

Within-Subject Design

This a type of experimental design in which participants are exposed to every treatment or condition. This is also know as a repeated- measures experimental design. It compares two or more different treatments.

Advantages:
  • Group differences
  • High Variance

A within- subject design is generally more powerful and more likely to detect a treatment effect.

A within-subject design can also help reduce errors associated with individual difference. With this design all individuals are exposed to all levels of treatments, so individual differences will not change the results. Each person serves as his or her own baseline.

Data Integration

Is the combination of technical and business processes used to combine data from sources into meaningful and valuable information. A complete data integration delivers trusted data from various sources.

Integration begins with the ingestion process and includes steps like cleansing, ETL mapping and transformation. Data Integration enables analytic tools to produce effective business intelligence.

Advantages:
  • Improves collaboration
  • Saves time
  • Efficient
  • Reduces errors
  • Delivers more valuable data
Disadvantage:
  • Data from legacy systems
  • Data from newer businesses
  • External Data
  • Keeping up

Swarm Intelligence

Is a branch of intelligence that discusses the collective behavior emerging within self organizing societies. This is a field of biologically inspired intelligence that is based on the behavior of social insects like ants, bees, wasps and termites.

Advantages:
  • Flexible- They respond to internal and external challenges
  • Scalable- From a few agents to a million
  • Self-organized- The solutions are pre-defined
  • Speed- Changes can be fast
Disadvantages:
  • Behavior- Difficult to predict the behavior from the individual
  • Sensitivity- Even a small change can lead to different group behavior
General Swarm Principles:
  1. Proximity- The basic unit of the swarm should be able to respond back to changes to interactions.
  2. Quality- Swarm should be able to respond to quality factors like safety of location
  3. Diverse- Swarm should not be concentrated in a narrow region.
  4. Stability- Population should not change its mode of behavior every time the environment changes.
  5. Adaptability- Swarm is sensitive to changes in the environment that result in different swarm behavior.

Box-and-Whisker Plot

A box-and-whisker plot is a convenient way of visually displaying data through quartiles. The lines that extend parallel from the boxes are known as the “whiskers”. Which are used to indicate variability outside the quartile. Outliers are maybe sometimes plotted as just individual dots that are inline with the whiskers. Box-and whisker plots can be drawn horizontal or vertical.

Some observations to look for are…

  • What the key values are.
  • If there are any outliers and what the values are.
  • Is the data symmetrical?
  • How tight is the data grouped?
  • If the data is skewed and in what direction

The best time to use a box-and-whisker plot is when you have multiple data sets from independent sources that are related like..

  • Test scores between schools or classrooms
  • Data from before and after a process change
  • Data from duplicate machines manufacturing the same products.

The procedure to develop a box-and-whisker plot comes from 5 different statistics

  1. Minimum value- smallest value in the data set
  2. Second quartile- the value below which the lower 25% of the data are contained
  3. Median value- the middle number in a range of numbers
  4. Third quartile- the value above which the upper 25% of the data are contained
  5. Maximum value- largest number in the data set.

“Marketing without data is like driving with your eyes closed”

Dan Zarella

Overall, all the chapters had some great terminology that was used and I learned a lot with just getting to understand the vocab and just knowing what the words means makes the chapters easier to understand.

Vocab Blog Post #4- Marketing Analytics

My personal shopping habits!- Engagement strategies

Today I am going to talk about the different companies I have purchased products from using mobile vs using my laptop. With technology growing so much these days using mobile phones to me is easier.

One main product that I have purchased using mobile was a different products on Amazon. I used my phone and the Amazon app. I personally feel this is easier because on my phone my debit card is automatically in my phone. Yes on Amazon it is already in there but, my card is saved on my phone.

Another product I bought using my mobile device was clothes on the American Eagle app. To me buying clothes using my phone is just easier. Yes, the screen is bigger on a the laptop but my phone has the app and all my information saved right there.

Things that I have bought on my laptop are like sports hoodies. I prefer doing this on my laptop because sometimes the pictures are too small and hard to see on the mobile so I do it on my laptop so it is bigger. I don’t really use my computer to buy products.I normally use my mobile device or go to the store to buy the products. That is just because with the amount of technology advancement my phone does even more than my computer can so I just use that instead.

Growing of the Mobile

Technology is growing very fast these days. There is always something new about technology that I don’t know. There are so many different things out there. The growth of apps, face ID, and so much more. It is so crazy to even think phones have face ID and just by showing your face it unlocks your phone. It is a cool idea and I think in the future more phones will have this feature. Having these feature makes it easier in life. But, if you have a laptop there is a change to forget your password, and different problems with ads and possibly not always having wifi. Having data and going mobile makes life just so much easier and way more simple.

Should you go mobile? or not?

People may have different opinions of going mobile or not but, thats alright! I personally think people should go mobile. If a company creates mobile apps people are more likely to use that because it is all in one. Everything is saved in an app and thats it. I am on my phone more than my computer and most people are on their mobile phones more often as well. Shopping mobile is so easy these days. You credit card information is already saved in our phone. This also can be a problem because we spend more money then because it is so simple. Having it simple and easy makes people want to shop more often because it isn’t difficult and way to many steps to get to just the checkout area on the computer. This is not only great for the customer but also the business because they got more shoppers.

Trends:

One trend that I feel that mobile has done is created impulse buying. Having it so easy makes it hard to not buy something. Like for example, when you keep seeings ads for a product and it seems interesting to you, your more likely to buy it. This is the way companies get their money. Companies love this. I know if I search something on like amazon or the internet I see ads about products that are similar. I have to say it does get annoying but is their way of promoting their products similar to your search results.

“Mobile is our communications hub, our source of media consumption, car keys, our credit card, our calendar. The future of SMS relies on customer communication.

Having the highest reach, SMS will be the most powerful tool for business to engage with customers.”

Triin Linamagi
E-commerce. Online internet shopping. Mobile phone, shopping bags and credit cards. 3d

Overall, mobile is so easy. When people buy things with using an app rather than in store or using a laptop. When I am going to buy products I tend to always rely on my phone. But, that is a quick and easy purchase that doesn’t need research. But, if I want to read reviews on a product I will use my computer because it does show more at once and it is bigger. That is only if I need to sit down and take my time to search about a product.

My personal shopping habits!- Engagement strategies