Click to Watch Video: Recommendation Engines - Part #1 - Major Trends

The Paradox of Choice – human beings lack the cognitive resources to maximize decisions: we can rarely evaluate all outcomes with sufficient precision, and our memories are weak and unreliable. (Herbert Simon, 1975 Nobel Prize in Economics)

Apple iTunes contains over 10,000,000+ songs and 100,000+ mobile applications

Beyond the Browser – the use of a recommendation engine was popularized by based on previous work by Vucetic and Obradovic (2000) for item centric recommendations. Consumers have insatiable appetites for content and they desire choice in their consumption format, recommendations must move beyond the browser.

  • The average American watched 31 hours of TV per week, with 31 minutes in playback mode on DVR.

  • Each week the average consumer spent 4 hours on the Internet and 22 minutes watching online video.

  • The average consumer spent 3 minutes watching mobile video each week.

  • Virtual Merchandising – the concept of Plan-o-Gram, a diagram that illustrates where products should be displayed, usually in the store shelf in order to increase consumer purchases is being adapted for use in digital content. This concept is key to maximize potential returns from limited screen real estate

    Place the milk and eggs at the back of the store so consumers have to browse thru the store to obtain staples