Month: January 2019

Evolution of Online Business Methods

The rate of technological advancements has shown exponential growth over the last couple of decades. Social space is one of major discoveries of today. It has been there for a while but during the last decade it emerged as one of the most revolutionary concept. It has transformed the way people interact with each other and has given a new medium of communication to businesses.

We now live in a social world where communication is the key to improving productivity and value. In the midst of globalization, emerging technologies and advent of new business methods, it is essential to keep the main focus on the needs of the global customers. The business and organizational context of today is very dynamic and keeps evolving continuously. They must possess high level of contextual intelligence so they can analyze the situation faster and offer customers with the best possible solutions.

Contextual Intelligence is a relatively recent concept that emphasizes on the importance of Personalized Information. And the best results can be derived from this concept if it is integrated in into online businesses. It will enable the system to analyze user’s profile based on certain factors and make automated suggestions that match their interest and need with what is available for them out there. It works as an automated intelligence driven engine that keeps track of the relevant information of the individual, like contextual search, annotations, discussions, structured and unstructured date etc. It helps the users focus on what is relevant to them; in turn it speeds up the process of moving from information to action.

Faster decision making is becoming incredibly important in the market today. Traditional Business Intelligence model has failed to deliver on its promise. Analytical tools are still very complex for the users and the IT people are flooded with requests to generate reports. So it is the contextual discovery that simplifies the course of action. Traditional BI models were very record centric, whereas, Contextual intelligence is all about being ‘people centric’.

Similarly when it come to online business, it is necessary create a link between what an individual wants and what is available for them and is also within their reach. There is this much talked about iPhone application, Kazoolee, that supports online buying and selling with the use of contextual intelligence. It formulates a contextual environment where users can maintain a gotlist (items that you wish to sell) and a wishlist (items you wish to purchase). Once both these list are made, it automatically matches their wishlist with the gotlist of every user of Kazoolee and tells them which items from their wishlist are available and are within their reach. This makes the process of exchange of goods much more simplified for both; the buyer and the seller.

It’s a must-have app for every iPhone user!