|By Business Wire||
|November 13, 2012 08:08 AM EST||
University of Utah researcher Xiao Fang and his colleagues were faced with a mystery: What factors have fueled the explosive growth of Facebook and other social networking sites over the past two years?
On October 4, Facebook reported it had topped 1 billion users, while runners-up Google+ and LinkedIn cleared 400 million and 175 million accounts, respectively. For the world’s most popular social network, Facebook, the past two years have seen user totals more than double.
Still, while retailers, game designers and marketing and sales executives salivate over the business potential of the burgeoning, worldwide social media space, no one has been able to decipher this phenomenon’s DNA. Even more of an enigma, Fang said of the revelations contained in a new paper he co-authored along with fellow Information Systems instructors Paul Hu and Weiyu Tsai and doctoral student Lionel Li, is how acceptance of opinions or products on one social media site spreads to another.
“This social contagion is the fundamental feature driving the new dynamic – for business marketing and sales, and for the democratic ideal of the public forum,” Fang explained, citing the recent ability of freedom fighters to spread political messages and defeat regime media controls during the Arab Spring.
The paper, “Predicting Adoption Probabilities in Social Networks” -- accepted for future publication in the Information Systems Research Journal -- not only explores factors behind social media users’ choices in products and opinions, but “proposes a novel and highly effective method to predict future adoption probabilities” for individuals who remain undecided, Fang added.
“The novelty of the proposed method lies in its consideration of a more complete set of factors driving adoption decision in a social network,” Fang explained. “Traditional methods focus on the factor of peer influence for adoption prediction. Our proposed method seamlessly integrates a more comprehensive set of factors, including peer influence, profile similarity between individuals -- such as similarities in age, gender, or taste, and the structural position of an individual in a social network -- for predicting adoption probabilities.”
Such theoretical and analytical tools could revolutionize social network-based targeted marketing, bolster viral marketing techniques to better overlap numerous social networks, and give teeth to product demand predictions within specific social networking groups.
So informed, firms “could predict the expected number of adopters in the next time period, allowing them to gauge whether an offering is likely to go viral,” Fang said. “If the offering is likely to go viral, the firm could act proactively to leverage it with appropriate marketing strategies, such as product bundling or cross-selling.”
The paper used data from two large but otherwise unidentified social networks, in one case incorporating nearly 15 million records and tens of thousands of users over a one-year period. From that information, Fang created 52 “snap shots” of client adoption trends and interactions from which, along with other findings, he used to extrapolate his findings.
About the David Eccles School of Business
Founded in 1917 in Salt Lake City, the David Eccles School of Business has programs in entrepreneurship, technology innovation and venture capital management. It launched the country’s largest student-run venture capital fund with $18.3 million, and is home to the Pierre Lassonde Entrepreneur Center and the Sorenson Center for Discovery and Innovation. Approximately 4,500 students are enrolled in its undergraduate, graduate and executive degree programs. For more information, visit www.business.utah.edu.
Extracting business value from Internet of Things (IoT) data doesn’t happen overnight. There are several requirements that must be satisfied, including IoT device enablement, data analysis, real-time detection of complex events and automated orchestration of actions. Unfortunately, too many companies fall short in achieving their business goals by implementing incomplete solutions or not focusing on tangible use cases. In his general session at @ThingsExpo, Dave McCarthy, Director of Products...
Dec. 6, 2016 07:15 AM EST Reads: 711
20th Cloud Expo, taking place June 6-8, 2017, at the Javits Center in New York City, NY, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy.
Dec. 6, 2016 07:15 AM EST Reads: 1,823
Businesses and business units of all sizes can benefit from cloud computing, but many don't want the cost, performance and security concerns of public cloud nor the complexity of building their own private clouds. Today, some cloud vendors are using artificial intelligence (AI) to simplify cloud deployment and management. In his session at 20th Cloud Expo, Ajay Gulati, Co-founder and CEO of ZeroStack, will discuss how AI can simplify cloud operations. He will cover the following topics: why clou...
Dec. 6, 2016 07:00 AM EST Reads: 817
The Internet of Things (IoT) promises to simplify and streamline our lives by automating routine tasks that distract us from our goals. This promise is based on the ubiquitous deployment of smart, connected devices that link everything from industrial control systems to automobiles to refrigerators. Unfortunately, comparatively few of the devices currently deployed have been developed with an eye toward security, and as the DDoS attacks of late October 2016 have demonstrated, this oversight can ...
Dec. 6, 2016 06:30 AM EST Reads: 1,105
Without a clear strategy for cost control and an architecture designed with cloud services in mind, costs and operational performance can quickly get out of control. To avoid multiple architectural redesigns requires extensive thought and planning. Boundary (now part of BMC) launched a new public-facing multi-tenant high resolution monitoring service on Amazon AWS two years ago, facing challenges and learning best practices in the early days of the new service. In his session at 19th Cloud Exp...
Dec. 6, 2016 06:15 AM EST Reads: 760
DevOps is being widely accepted (if not fully adopted) as essential in enterprise IT. But as Enterprise DevOps gains maturity, expands scope, and increases velocity, the need for data-driven decisions across teams becomes more acute. DevOps teams in any modern business must wrangle the ‘digital exhaust’ from the delivery toolchain, "pervasive" and "cognitive" computing, APIs and services, mobile devices and applications, the Internet of Things, and now even blockchain. In this power panel at @...
Dec. 6, 2016 06:00 AM EST Reads: 464
Kubernetes is a new and revolutionary open-sourced system for managing containers across multiple hosts in a cluster. Ansible is a simple IT automation tool for just about any requirement for reproducible environments. In his session at @DevOpsSummit at 18th Cloud Expo, Patrick Galbraith, a principal engineer at HPE, discussed how to build a fully functional Kubernetes cluster on a number of virtual machines or bare-metal hosts. Also included will be a brief demonstration of running a Galera MyS...
Dec. 6, 2016 05:45 AM EST Reads: 5,292
Internet-of-Things discussions can end up either going down the consumer gadget rabbit hole or focused on the sort of data logging that industrial manufacturers have been doing forever. However, in fact, companies today are already using IoT data both to optimize their operational technology and to improve the experience of customer interactions in novel ways. In his session at @ThingsExpo, Gordon Haff, Red Hat Technology Evangelist, will share examples from a wide range of industries – includin...
Dec. 6, 2016 05:00 AM EST Reads: 1,647
"We build IoT infrastructure products - when you have to integrate different devices, different systems and cloud you have to build an application to do that but we eliminate the need to build an application. Our products can integrate any device, any system, any cloud regardless of protocol," explained Peter Jung, Chief Product Officer at Pulzze Systems, in this SYS-CON.tv interview at @ThingsExpo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 6, 2016 04:45 AM EST Reads: 999
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place June 6-8, 2017, at the Javits Center in New York City, New York, is co-located with 20th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry p...
Dec. 6, 2016 04:30 AM EST Reads: 1,930
@DevOpsSummit at Cloud taking place June 6-8, 2017, at Javits Center, New York City, is co-located with the 20th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long developm...
Dec. 6, 2016 04:15 AM EST Reads: 1,754
"We are an all-flash array storage provider but our focus has been on VM-aware storage specifically for virtualized applications," stated Dhiraj Sehgal of Tintri in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 6, 2016 03:45 AM EST Reads: 821
Between 2005 and 2020, data volumes will grow by a factor of 300 – enough data to stack CDs from the earth to the moon 162 times. This has come to be known as the ‘big data’ phenomenon. Unfortunately, traditional approaches to handling, storing and analyzing data aren’t adequate at this scale: they’re too costly, slow and physically cumbersome to keep up. Fortunately, in response a new breed of technology has emerged that is cheaper, faster and more scalable. Yet, in meeting these new needs they...
Dec. 6, 2016 01:00 AM EST Reads: 1,849
"We're a cybersecurity firm that specializes in engineering security solutions both at the software and hardware level. Security cannot be an after-the-fact afterthought, which is what it's become," stated Richard Blech, Chief Executive Officer at Secure Channels, in this SYS-CON.tv interview at @ThingsExpo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 6, 2016 12:45 AM EST Reads: 854
When it comes to cloud computing, the ability to turn massive amounts of compute cores on and off on demand sounds attractive to IT staff, who need to manage peaks and valleys in user activity. With cloud bursting, the majority of the data can stay on premises while tapping into compute from public cloud providers, reducing risk and minimizing need to move large files. In his session at 18th Cloud Expo, Scott Jeschonek, Director of Product Management at Avere Systems, discussed the IT and busin...
Dec. 6, 2016 12:30 AM EST Reads: 3,890