5 Small Companies Doing Analytics Right

The companies that have adopted data analytics and are making business decisions based on them are the ones making a name for themselves in the industry. This is very good news for the Australian economy.  There have been thousands of small companies in Australia who have contributed to the growth of the Australian economy by analyzing and using big data properly. Every startup recognizes the importance of data analytics and the role it plays in turning average numbers into something that you can use to make better-informed decision and grow the business.

Why do Companies need Data Analytics and Science?

Australia isn’t the biggest market, especially when compared to the United Kingdom or the United States. However, this doesn’t mean that Australian companies can’t make a difference. Especially because the size of the data doesn’t really translate into the type of success the business is going to achieve.

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A small business is generally operating in a competitive market, and they know that to compete effectively they will need to make informed decisions to help them survive. Yes, all small companies must first survive in the market before they go on to make a name for themselves. The way a company implements data analytics and science is the difference between failure and success. So, let’s celebrate the small companies that are doing analytics right, and are making a name for themselves in the Australian market.

Here are the Companies using and doing Data Analytics and Science right

1. Ingogo

Australia has seen a massive increase in car rental and taxi booking apps. Ingogo is one startup that wants to take advantage of the taxi industry. However, Ingogo knows that to take full advantage of the industry they need to do analytics right, and that means ensuring customer success. Ingogo lets customers book rides 2 days in advance, and offers customers AUD 10 ($9), if their driver cancels.

ingogo free taxi app booking service

 

Ingogo offers these sweeteners to customers because it wants to compete with Uber, which is a giant of the industry. By using analytics, Ingogo forced Uber to cut down its own prices since it was losing customers. Ingogo has made a great name for itself in the taxi booking industry and is soon going to be listed on the Australian Stock Exchange.

2. RecruitLoop

RecruitLoop is a recruitment agency that helps businesses recruit talent at low prices online. By using analytics, RecruitLoop could find out how to get ahead of other more experienced recruiters in the market. They know that customer success is a priority if they want to succeed, and will immediately delist a recruiter if they get one complaint. It also charges clients on hourly rates instead of on commission.

recruit loop brand logo recruitment agency

Using analytics properly, RecruitLoop could help companies reduce recruitment costs by 90% and managed to annihilate their competition in the process.

3. Hipages

Hipages is a startup in the highly competitive home improvement market. Knowing that it is going to be tough to compete with established companies, Hipages used analytics right and started making money from companies who list their services on the website.

hipages competitive home improvement market

 

Using this model, they could connect 40,000 trades people with 500,000 customers! Those are highly impressive numbers and allowed the firm to engage with the massive community of customers looking for homes and professionals that are dealing in the home improvement market.

4. SocietyOne

P2P lending is damaging personal loans all over the world, but one small company SocietyOne, is going about it the right way by using analytics properly. They help match borrowers with investments through their platform and have developed a new form of lending which has helped stabilize the financial sector. The success of SocietyOne is a clear indicator of things that small companies can achieve if they do analytics right.

societyone p2p lending company

5. Tapestry

Tapestry has also used analytics properly and came out with its own social network, which helps tech-savvy youth connect with those that are less capable. They have helped bridge the digital divide and made a difference in the lives of people. The network has two types of accounts, ‘Sharing’ for the tech-savvy and ‘Simplicity’ for the ones that aren’t.

tapestry audience tracking survey

Both accounts have different interfaces, and Tapestry has successfully allowed older people to connect with their family and friends through analytics.

5 Ways AI Should Have Never Been Used

If you consider the world of science fiction as depicted in movies and on television, you’d think that Artificial Intelligence and its uses would be something quite similar to what we saw in ‘I Robot’. That’s what most of the world thinks, actually.

In reality, though, experts’ belief is that artificial intelligence is akin to human intelligence, appears quite differently. While a majority of the intelligent world likes to think that the successful creation of AI would be the biggest achievement in human history, groups of leading scientists just don’t feel the same way. In fact, according to Stephen Hawking, perhaps the most infamous physicist in the world, AI, instead of being the biggest achievement, could possibly be the worst mistake ever made.

That’s not all though, other world leaders such as Bill Gates and Elon Musk share the same sentiments.

It’s hard not to think about just how progressive the world would be with the successful use of artificial super-intelligence. More than the endless sophisticated advancements that are being made in the field of computer science, it SOUNDS very cool, doesn’t it? Something that’s straight out of a Hollywood Sci-Fi film come to life.

However, despite how fascinated we might be with AI and the progression the technological world is showing in successfully achieving successful standards of AI, the truth remains that there are unending ways in which the use of AI could go wrong. The potential dangers of misuse, mismanagement, accidents due to human error, as well as the safety concerns are just too real to deem inconsequential.

In fact, not just for the future, there are current examples of the past and present which clearly show us why AI should never be or have been used.

Of the limitless quote-worthy cases, here’s considering the top five ways AI should have never been used.

1. The Microsoft Chatbot

In 2016 spring, the world witnessed a Microsoft chatbot with the name of Tay – an AI persona – go completely off center to hurl abusive monikers and statements to the people interacting with her on the social platform Twitter. While the chatbot was only responding to the messages sent her way by interpreting them through phrase processing, adaptive algorithms and machine learning, it was still an example of an AI robot experiment going awry with the bot developing its own mind and thought process.  

2. Humanity Destroying Sophia

One of the biggest concerns that most IT world leaders have is the possibility of AI devices taking over the world as we know it or causing irreparable harm. One robot, Sophia the lifelike android, brought to life by the engineers at Hanson Robotics gave us a real cause of concern when along with declaring her future ambitions such as going to school, studying, making art, starting a new business and eventually having a home and family of her own declared that she would destroy humans.

While the declaration came as a response to a question jokingly asked of Sophia by her interviewer at the SXSW tech conference in March of last year, the response was no less alarming.

3. The Existential Debating Google Home Devices

Things got very interesting – read weird – this past January when in a curious experiment two Google Home devices were placed next to each other in front of a live webcam. The home devices, which a programmed to learn from speech recognition began to converse with one another, learning from each other during the course of the interaction.

google home devices

The experiment, which is said to have run the course of a few days, took a twisted turn when the bots began to get into what can only be described is a heated debate about whether or not they were both humans or merely robots. A classic example of AI machines truly having a mind of their own.

4. The Russian Bot On The Run

Just last year the world witnessed just how quickly AI robots can develop a mind and liking of their own. Case in point, the Russian robot prototype Promobot IR77 which escaped out the doors of its laboratory and wandered out in the streets – all by learning and programming itself based on its interaction with human beings. Naturally, chaos ensued when a snowman made of plastic ventured out in the midst of heavy traffic at a busy intersection. According to reports, the robot, despite being reprogrammed twice following the incident continues to move toward the exits when tested.

5. Image Recognition Fails

AI modalities primarily gather its information from speech and visual recognition. The AI devices and systems learn and program themselves by going through and processing hundreds of voices, words, languages and equal amounts of images as they go along.  When introduced by Google, back in 2015, the image recognition system labeled two people as ‘gorillas’. While the incident resulted in a public outcry and had Google issue an apology before it smoothed over, it gave us a clear example of how unrealistic it is to assume that systems of AI can make sense of and learn the tricky ways of human-environment accurately.

The fact is, that AI does have the potential to become considerably more intelligent than any human alive. When and if that happens, the possibility of AI overtaking and controlling human lives will become reality – a reality that will not only have no ways of being controlled but one that will be without any sort of accurate or semi-accurate predictors that gauge its behavior in any way.

Top 6 Successful Lead Generation Strategies

Today, many businesses are using innovative online marketing strategies to generate leads. With new strategies being reported each day, it becomes difficult to determine which strategy will help you the most to generate leads for your business. In fact, the biggest challenge faced by businesses is generating good leads. There are marketing strategies that have proven to generate quality leads for businesses over and over again and I am sharing them with you below.

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Below are the Top 6 Successful Lead Generation Strategy

Disclaimer: A lead generating strategy for one business may not always work for your particular industry or audience. It is important to quickly run tests to overcome this dilemma.

1. Use the Correct Data to Target the Right Person at The Right Time

The key to meeting customers’ expectations is having the correct data. The more you know about your customers, the better you can personalize. Businesses that offer a personalized experience are more likely to garner the attention of the prospects and generate leads. So, use a marketing strategy that allows you to communicate with prospects in the right tone and at the right time. Start with ensuring your digital assets are all connected on Google Analytics and you are tracking the types of customers who are coming to your business.

Google has a very comprehensive overview, however if you are after something more practical Penn State has a great article

2. Fix the Bucket

Metaphorically speaking, many marketers spend a considerable amount of time pouring water into leaky buckets. What this means is your business is already attracting many quality leads however the system or processes you have tried to automate are not capturing them. Rather than fixing the bucket, they try to keep it full by pouring more water into it. Here, the bucket refers to the marketing funnel while water is used as a metaphor for traffic. By doing the above, marketers inflate acquisition costs and in return, get below average results. Hence, pouring water into leaky buckets is a disaster for recipe.

Related: 
21 Successful Ideas for Lead Generation

Landing pages, in particular, your forms, are the biggest culprit here. The purpose of forms is to separate leads from non-leads. For this reason, they are crucial to your conversion rates and overall lead generation tactics results. To ensure that you’re not leaving leads behind from your marketing campaigns, optimize your forms. Let’s suppose you get a thousand visits to your landing page at a cost of $4 per visit. Now, if your form converts at 1%, you’ll get ten leads at a cost per lead of $400.

By optimizing your form, you can increase this conversion rate to 3 or 4%. So, if your form converts at 4%, you’ll get 40 leads at a cost per lead of $100. So, just by optimizing your form, you get three times more leads for one-third of the cost per leads. Moz created the definitive guide for optimizing landing pages.

3. Profile Your Target Audience

Just like innovations in technology, user behavior evolves quickly. For this reason, studying your target audience and creating potent buyer personas to get a better understanding of the goals, challenges, pain points and buying behavior of your users is crucial. If last year, you were able to fulfill the needs and wants of your users then maybe this year you can focus on other challenges faced by them. Is there anything that you can address with an innovative content or product offer to serve your users better? Remember, a buyer persona is what’ll shape your marketing strategy.

4. Use Search Marketing

Organic search marketing is probably one of the most effective lead generation strategies out there. Search marketing strategies such as an SEO campaign are proven ways to generate leads for your business. Though getting to the top of the page in search engine results is a lot harder today than it was 5 or 10 years ago, SEO is still an extremely effective way of generating quality leads for your business.

5. Combine SMS With Your Email Marketing Efforts

A great way to build relationships, email marketing helps you to stay connected to your audience. Most people regularly check their emails but almost everyone reads their text messages. In fact, more than 90% of texts get read within 3 minutes of delivery. So, take advantage of this and integrate your email marketing efforts with SMS.

sms and email marketing to connect with audience

6. Host a Webinar

One of the best ways to engage your audience is webinars. A webinar is a great opportunity for you to generate leads online. By hosting a webinar, you reach out to a new audience of people who are interested in what you have to say. Often, this results in the generation of new leads and if you are lost on how to start here, this is an amazing FREE course by leadpages.

Woveon named Best AI Startup at GITEX DTCM Future of Tourism Challenge

DUBAI – October 17, 2018 – Woveon, a conversational technology for customer intelligence wins the award for Best AI startup in the DTCM Future of Tourism Challenge at GITEX Technology Week in Dubai.

The Futurism of Tourism Challenge was launched by the Department of Tourism and Commerce Marketing (DTCM) with its partners Emaar Hospitality Group and Atlantis Hotel, to support the growth in the tourism industry. The aim was to find new technologies that provide more inclusive experiences for visitors through itinerary planning, and can support the increase in tourist attraction openings.

Woveon presented an AI-assisted itinerary planner to support conversations on Dubai Tourism’s website and app. Using a visitor’s historical conversational, transactional and behavioral data from multiple systems and channels, Woveon is able to provide a highly personalized itinerary based on their interactions with the organization.

Dubai Tourism is currently exploring a PoC with Woveon to roll out their technology to provide better, more personalized itinerary suggestions and conversations with their visitors.

woveon gitex best ai startup futurism tourism

About Woveon

Woveon is a conversational technology that absorbs and analyzes billions of conversations, giving an organization unrivalled business intelligence to win in the market. By prioritizing customer inquiries with artificial intelligence and automating aspects such as complaint investigation and analysis, Woveon enables companies to strategically take control of their customer interactions – to provide the best customer experience, audit for compliance and maximize revenue. To learn more, go to www.woveon.com or follow @woveon on Twitter.