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Showing posts with label science. Show all posts
Showing posts with label science. Show all posts

Aug 28, 2012

Brain Games Company Lumosity Is Business Up Front, Experiment In The Back End

With its large database of human cognitive performance, Lumosity has become a small but significant force in the science surrounding its products.

As a neuroscience PhD candidate at Stanford, Michael Scanlon explored the effects of cognitive training through small-scale experiments on fish and rats. Now, seven years after dropping out to start a company that makes brain games, he can base his research on anonymized data from 25 million people.

Lumosity, the company Scanlon co-founded, makes games that promise to sharpen memory, focus attention, enhance creativity and improve attention. At least by Silicon-Valley terms, it’s been successful. The startup announced a $31.5 million investment from Discovery Communications last week, bringing its total amount of funding to $70 million. Its mobile app has reached the coveted No. 1 spot in the App Store, and its userbase has swelled to 25 million.

Studies about whether playing games like Lumosity's can indeed make people smarter have produced conflicting results. One study, for instance, found subjects who trained in cognitive tasks improved only at those specific tasks. Others, meanwhile, have showed improvement in fluid intelligence among those who played a brain game.

Lumosity's research branch, Lumos Labs, runs its own studies about how the games impact intelligence. But it also lends assessment tools and, in a few cases, its massive data set to independent researchers who are studying cognitive training. It's running an experiment and a company at the same time and has thus become a small but significant force in the science surrounding its products.

According to a paper the company published in the MENSA Research Journal, after 10 hours of training, subjects improved 10% in memory and 20% in divided attention. At the Society for Neuroscience’s annual meeting in October, it will present further research on the transfer of cognitive training to core underlying cognitive capacities and whether older adults need to train more frequently than younger adults to receive equivalent benefits.

With the exception of the research published in MENSA Research, however, none of its findings have been submitted for publication in a peer-reviewed journal.

“We know it’s possible,” Scanlon says. “We haven’t submitted enough times to know if we we have a high rate of success or a low rate of success.”

Regardless of whether Lumos Labs successfully publishes more studies, Scanlon acknowledges that research produced by organizations without revenue at stake are more likely to be trusted. Which is one reason Lumosity has helped supply about 100 independent researchers with brain games their subjects can play at home instead of at the lab.

Researchers from Stanford, the University of New South Wales and other schools have used Lumosisty brain games in published studies, many of which support Lumosisty's findings, and scientists at Harvard and UC Berkeley are among the 25 researchers that are currently incorporating the games into experiments.By default, testing their subjects on Lumosity games also helps cement the company’s position as the most data-equipped researcher in the space.

That's the business genius in Lumosity's research programs: As new understandings emerge about how cognitive training works and in what ways it is or is not effective, it's a good bet that Lumosity will be the first to arrive with updated games.

“The product is informing the science, which then turns back into the product,” Scanlon says. “Not all companies have the option of having their R&D and business models in such alignment.”


Source : fastcompany[dot]com

Aug 27, 2012

The Social Science of Your Social Business #socialintel2012

The science of digital media proposes to translate abstract qualities into numerical values. Influence, sentiment and loyalty are all major factors in determining the impact of social media on your business, because hard numbers and ROI come later. Should we really rely on these algorithms, and will we ever be able to trust them completely?

Are they just a new way to automate the customer experience, like auto replies and automated phone menus? The consensus is that the human element will always dominate in the practice of interpreting human interactions, at least in terms of reliability. And you can manage to operate a social media presence for your business without putting all of your eggs into that basket.

Social Media Tools of the Trade

The other problem is that sentiment analysis is almost entirely useless. Even among massive companies with huge data sets, hard negative/strong positive sentiment is a very small percentage as compared to "neutral" interactions. So, if you have the "luxury" of being a small enough company, maybe try to measure these things manually. Combining Google Analytics with the built-in measurement tools of Twitter and Facebook can give you a very good idea where you stand at no cost at all, especially if you're tracking month-to-month growth and incorporating multivariate testing into your basic social strategy. You can use Klout to gauge influence, or just rely on that good old common sense you've got lying around somewhere.

If you're getting too big to leave things to chance, a few significant companies in the market of big data keep popping up. Radian 6 is an industry leader in social media data collection/analysis. Metrica does the same, with a slightly more human-centered approach. Hadoop is a recommended file management system to store and organize your data. You'll pay real money for these services, but you'll be doing it because you're at a point where you have no choice but to invest in that side of the business, and you don't want to throw money at a crap shoot.

Analyzing the Ever Changing Social Network

Scientifically speaking, you'll be analyzing an environment that is in constant flux, and the action of observing it has an effect on it. People are more likely to complain when you make it that easy. You'll have your chin out there taking blows and you'll need to react swiftly. It's important to have a solid advocate at the top of the company and a direct line (Bat-phone) that can allow you to solve any problems immediately. If your social media director is not completely empowered, then they must have close contact with the CEO or someone who is. Red tape destroys a company's ability to operate an effective social presence.

Also, don't spend countless hours or excessive dollars trying to determine the "why" of every negative interaction. There's a vast spread of strange stuff out there and we can't attach meaning to everything and everyone. When negative reactions start to add up, you can begin to understand a common theme within your data or from your observation that can result in a business action. Prior to that, the most you can do is treat people like people, not digital units. You might find them reacting in kind, and you'll start to see that intangible quality of loyalty creeping in.

 
 

Source : cmswire[dot]com

Aug 9, 2012

Next Generation CRM: Combining Power of Live Chat with Online Communities

When businesses engage in customer service, there is a unique thing that happens: science and art collide. Satisfying customers and creating ongoing loyalty is a true art form, while ensuring that call center representatives are highly efficient falls more on the scientific side. Blending both of these worlds can be very challenging.

Fortunately, it is possible to increase the productivity and efficiency of customer support staff, while also expanding customer satisfaction at the same time. There are solutions that streamline online customer interactions by having customers complete a short pre-chat survey, which then serves up automated lists of related topics and answers.

But where do these answers come from? We all know that customers have unique problems and a list of canned responses can only go so far.

Your Customers Know the Answers

Fortunately, there are next-generation CRM solutions that actually mine responses from communities to ensure accuracy and customer satisfaction. Organizations with a broad, active and vocal communities of users, can fully embrace these types of data mining solutions that increase efficiency of call-center support staff and help with sales conversions.

In addition, unique social media feedback tools can now mine customer insights and serve them up in real-time to the call center specialists.

The way these new tools work is very simple. Online customers and prospects fill out a pre-chat survey. Based on the responses, the call center support person is provided with a real-time response from the overall knowledge base. So, as opposed to having canned answers at their fingertips, these live chat operators are armed with the right knowledge and insights required to meet the customer’s expectations.

In addition, the insights from the crowd-sourced knowledge base are also provided to the customer once they complete the pre-chat survey — allowing customers to have the information they need even before the chat begins. Or if the data provided is sufficient, the customer can move on with their purchase online without corresponding with call center personnel.

Making the Most of What You Have

These new CRM tools really help with one important thing: helping companies maximize the use of live chat software. While many organizations make the investment in live chat software, they often lack the tools and training to leverage it fully.

Most organizations simply don't have the tools and training to take full advantage of live chat’s full capabilities. According to Gartner Group, nearly 42 percent of CRM related software licenses are never even implemented.

One of the biggest e-commerce challenges is dealing with high shopping cart abandonment rates. According to Forrester Research, 88 percent of website visitors abandoning the shopping cart at the payment stage. Each abandoned shopping cart equals lost revenue.

In addition, 44 percent of online consumers say that having questions answered by a live person while in the middle of an online purchase is highly important, according to Forrester Research. We know that shipping and pricing are the main drivers behind shopping cart abandonment. By knowing these issues in advance and being able to mine the right information, e-commerce sites can greatly enhance overall sales conversions.

Unlike a retail outlet like Nordstrom, where they provide top-level service in a face-to-face environment, it is much more difficult to satisfy customers online. By arming themselves with these new CRM tools, along with the right guidance for usage, organizations can go a long way in increasing customer satisfaction, and drive more revenue in the door.

Editor's Note: You may also be interested in reading the following:

The Disconnect Between Real and Perceived Customer Service

About the Author

Jeff Mason is the Vice President of Marketing for Velaro and has more than more than 20 years of technology marketing experience in the nonprofit software, CRM and e-business systems sectors.

 
 

Source : cmswire[dot]com