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When a system operates optimally, when interacting with individuals or groups who mirror the makeup of its creators; yet suboptimally otherwise.
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Highlights from a recent article in the South China Morning Post:
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The Chinese's Guanggun Jie, or Singles Day, takes place each year on 11/11. A day set aside to celebrate being proud to be single, has become one of the largest consumer shopping days of the year, dominated by one ecommerce giant Alibaba. Last year (2016), Alibaba processed $17.8B in Gross Merchadise Volume (GMV), which doesn't represent Alibaba's corporate revenue, but instead the total value of the goods sold on the platform. Alibaba mostly earns revenue on advertising placements on the platform. Yesterday, for Singles Day 2017, a whopping $25.3B was purchased through the Alibaba platform. This represented a 39% YoY increase. Wow. However, what this also continues to demonstrate is the structural shift underway in retail, where one digital platform can attract and process more volume in a day, than most retailers do in a year. Think about it, today we're talking about Alibaba, not the 140,000 brands and retailers who provided the products. Who owns the customer, really? That's huge!
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"I think that the key reason people follow retailers and brands on social media is for reasons of lifestyle projection. Either the consumer is living, or wants to live, the brands ideals. For grocers, this would be things like healthy living and sustainability. With the brand ideals as the backdrop, consumers will become sticky if the social feed is educational, informative, entertaining, will save them time and/or money or is otherwise a utility — very much similarly to why consumers want and keep a mobile app installed." ~ Shawn Harris
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1. Classification (probability estimation or scoring): binary or categorical.Attempt to predict, for each individual in the population, which of a (small) set of classes this individual belongs to. Classification will bucket individuals, and scoring will provide quantification of likelihood of being in a particular bucket.
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Lean thinking
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"I think that this offering coupled with the work they are doing in augmented reality is a winning solution." ~ Shawn Harris
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I believe that 97.5 percent of today's traditional retailers will NOT survive the earthshaking transformation that is currently occurring in their industry. Changes in the customer shopping behavior and preferences, rise of on-line shopping, local and state government push to increase minimum wage, and uncertainty in the global economy have placed quite a few obstacles in front of retailers.
