Microformats

MICROFORMATS

What are microformats and why might we want them?

Word Count; 593, excluding headings and entries in the Bibliography.


Objective;

To make web site data more meaningful to machines


“Nowadays the volume of the information on the Web is increasing dramatically. Facilitating users to get useful information has become more and more important.”
[Lixin Han, Guihai Chen; 2006]

A critical flaw in the first inception of the web that it was designed primarily with people in mind. Web 1.0 was basically a publishing platform where the end user were the people deciphering the information presented on their screens. As the web grew, immense quantities of documents became available. This shear volume of information created a severe problem - cluttering.

“Users are not satisfied with the low precision and recall. With the emergence of the Semantic Web, this situation can be remarkably improved if machines could ‘understand’ the content of web pages.”
[Microformats Speed Access to Web Data]

This is the solution proposed by microformats, is to build on the existing resources by modifying the visibility of hosted information. In effect, tags are attached documents to aid the speedy recall of more valuable and relevant information.

Microformats are a set of simple, open data formats built upon existing and widely adopted standards. Instead of throwing away what works today, microformats intend to solve simpler problems first by adapting to current behaviours and usage patterns (e.g. XHTML, blogging)
[Microformats: Paving the Cowpaths]

This is a particular format that can equally be interpreted by both man and machine.

Currently search engines such as Google, retrieve information based on the keyword entered into the search bar. They prioritise their findings based on the position of the key word within each result, i.e. presence of word in heading would be deemed significant. The frequency of the search word within the main body of the text in conjunction with the number of hits achieved provides the crude basis indicative of relevance,

“The widespread availability of machine understandable information on the Semantic Web offers some opportunities to improve traditional search. If machines could “understand” the content of web pages, searches with high precision and recall would be possible.”
[Lixin Han, Guihai Chen; 2006]

However, for a while ate least there exists a chicken and egg situation, nobody willing to exert additional effort in annotating posts without the technology in place to utilize them. While the web developers see no need to produce the mechanisms if there is little for them to search, this facility is near at hand although

Micro formatting exists on a limited scale today; bloggers were amongst the first to harness the capabilities of micro formatting earlier this year. Edgeio is a company that has taken the concept and developed it further. In a similar fashion to eBay they specialises in hosting classified adverts posted in the main by individuals. Its comparative advantage lies in the fact that the content of each is made searchable using microformats, enabling much more efficient detection of the item worldwide.

I feel that there is real potential for integration of this facility with the established capabilities of RSS. By setting boundaries or specific attributes regarding a product the user could simply sit back and wait for corresponding matches to be relayed back to their aggregator, as is the case for news items currently, genius! This new invention almost completely removing the efforts required in tracking down that perfect item.

The use of micro formats will structure the information on the web in a greatly more organised manner, making it infinitely more flexible, which in turn opens the door for a creative new array of applications, which can manipulate this data in any desired fashion.


Bibliography;

• The Big Picture on Microformats, John Allsopp, Published on August 28, 2006
• WHEN THE WEB STARTS THINKING FOR ITSELF, David Green. Information World Review. Oxford: Dec 2002., Iss. 186; pg. 37, 2 pgs
• Microformats: Paving the Cowpaths, http://www.windley.com/archives/2005/07/microformats.shtml
•
MICROFORMATS SPEED ACCESS TO WEB DATA, IT Week, September 18, 2006
•
Microformats go mainstream, a shel of my former self, June 24, 2006 Saturday 11:46 PM EST
• http://en.wikipedia.org/wiki/Microformats
• http://blogs.zdnet.com/BTL/?p=3232
• http://en.wikipedia.org/wiki/Semantic_web

The Long Tail Theory

The now unquestionable reliance upon the internet has had significant impact upon the business sector, little more so than in the world of retail. The major outcome being that anyone can find exactly want they are looking for. Providing you are not sufficiently remote that access to the internet is obtainable, the potential consumer has an almost limitless array of drains with which to dispense their wealth.

This new found freedom has had many implications for the traditional retail sector, one of the more major developments is summarised by the “Long Tail” theory. This notion was first proposed by Chris Anderson via a “wired” magazine article in October 2004.

The principle behind this being basically that consumer preference is not suppressed. The boundless reach of the internet ensures that the customer is no longer constrained by what is available in their local “bricks and mortar” store. Unique tastes can be much better catered for, with resulting knock on effects for what were once the staple products for a firm.

“Even if you have one-in-a million tastes, there are still over a thousand like-minded consumers who share your niche tastes.”

[Erik Brynjolfsson, Yu “Jeffrey” Hu, Michael D. Smith; 2006]

This is the central pivot around which the Long Tail theory operates, however requiring the vast audience of the internet to bolster what would once be considered minority interests.

This theory is graphically represented below;

Typical Sales distribution of a “Bricks and Mortar” retail outlet;

[figure I]

Resultant distribution of Sales from an online competitor;

[figure II]

Note the differences;

“In many cases the infrequent or low-amplitude events—the long tail, represented here by the yellow portion of the graph—can cumulatively outnumber or outweigh the initial portion of the graph, such that in aggregate they comprise the majority.”

[Wikipedia, 2006]

The key factor that determines whether a sales distribution has a Long Tail is the marginal cost of inventory. This is where the online firms have a significant comparative advantage. The physical limitations of a shop inhibit the range of products it can display. In order to fully utilise its resources it elects only to stock those products that are destined to turnover most readily.

The online firm can choose to locate anywhere it likes as the customers do not enter the facilities physically the firm does not have to consider its proximity to a local market. In response establishes itself where the comparative cost of rent and rates are lower. Not hindered by the congested buildings on the high street its warehouses can be sufficiently large to accommodate a massively more enlarged product range. It becomes much more economically viable to hold unpopular products for sale.

For example;

[Erik Brynjolfsson, Yu “Jeffrey” Hu, Michael D. Smith; 2006]

With the inevitable effect that the demand for the most popular products is reduced, creating the much flatter distribution of sales as depicted in figure (ii).

The implications of this may be that with reduced market demand there lies less incentive for firms to produces mass market products. Sparking the end of the corporate giants?

In any case the wheels of change have been set in motion, data from Amazon.com clearly show that a large proportion of its sales consist of “titles that wouldn’t normally be found in brick-and-mortar stores”.

[Erik Brynjolfsson, Yu “Jeffrey” Hu, Michael D. Smith; 2006]

Niche products will receive a dramatic boost as there is now exists a channel for their voice to be heard by the public. A revert back to smaller, more organic organisation made more feasible as the relative costs of distribution has fallen with the widespread application of new technologies.

As regards the Accountants’ interest in this state of flux;

It is apparent that a new form of client will be presented before them. Every likelihood suggesting that they may arise from a less sophisticated environment with access to greatly reduced resources; in comparison to the multinational corporations whose connotations with the creation of “chart toppers” once lay unchallenged.

The profession must evolve to accommodate this less well informed clientele, with appropriate mechanisms in place to allow them to decipher the level of information required from them; while at the same time placing some onus on the specialist to see that the customer understands the process and are not bamboozled.

Such developments in the secondary market, as detailed above, may instigate a similar response in the tertiary sector. In order to fuel the existence of the newly established firms a well structured business plan will need to evolve. Accountants are ideally placed to expand their implementation of this service. To ensure a stable client base irrespective of perpetual changes in business at large.

“Once all of this is in place, the natural shape of demand is revealed . . . . [T]hat shape is far less hit-driven than we have been led to believe.”

[Rick Ferguson, Kelly Hlavinka; 2006]

Bibliography;

From Niches to Riches: The Anatomy of the Long Tail

Erik Brynjolfsson, Yu “Jeffrey” Hu, Michael D. Smith

June, 2006.

Superstars and Underdogs:

An Examination of the Long Tail Phenomenon in Video Sales

Anita Elberse, Felix Oberholzer-Gee

The long tail of loyalty: how personalized dialogue and customized rewards will change marketing forever

Rick Ferguson, Kelly Hlavinka.

The Journal of Consumer Marketing.

2006 Vol.23, Iss.6; pg. 357

The Long Tail

http://en.wikipedia.org/wiki/The_Long_Tail; assessed 11/10/06

EditGrid v Excel

Accounting Information Systems [40428]

Weblog 2

Compare Excel and EditGrid in terms of desktop app v web app, and from the perspective of an accounting user.

Word Count; 703 [Excluding Headings and Bibliography]

Spreadsheets are a primary tool for any business. It is upon this attribute that the Microsoft Corporation has capitalised fully.

Developments instigated by “Web 2.0” are having detrimental effects on the existing reign of the desktop-based application, such as Excel. The dominance of this package is under serious threat from many different contenders; EditGrid, Google Spreadsheets, Zoho Sheet.

“It seems as if the era of Web-based software is upon us.” [Wildstrom, 2006]

While this technology is very much in its infancy, commercial users are reluctant to become dependant upon it, yet.

“The technology supporting them is relatively new, and they have yet to struggle with managing a heavy user load. Their longevity is questionable, especially since they have unknown financial models for long-term support.” [Greg, 2006]

Many of these packages are offered free of charge, this in stark comparison to the ‘measly’ £298.97 for the Microsoft equivalent. This option becomes decidedly more attractive to the personal or small business user on a budget. Whilst insignificantly compromising on the product features, but hey, where you ever really going to use the “HYPGEOMDIST” function in Excel?

It is true that the web-based competitor (EditGrid) still lags behind the likes of Excel in this area, but for the most part, other than highly specialised calculations, it is more than adequate. The interface is also familiar, suspiciously so, for those who have experience in operating Excel.

The web system is far less streamlined and involves communication with servers, so is bound to be less than instantaneous. I experimented with EditGrid to test out this concern and found that delays, if any, were immaterial and did not detract from the utility of the package. Internet speeds are also bound to advance over time, rendering this problem less applicable.

The most remarkable advantage of the web-hosted product it the collaborative facility, where remote colleagues can simultaneously work on the same document. Where previously this was only partially possible via email, which was very cumbersome!

“Communications technology has shrunk the globe so that people no longer have to be in the same location, or even in the same country, to work effectively as a team.” [Gordon, 2005]

Evolution of such features offers up great potential for the business user; no longer constrained by their physical departments. Auditors who may spend much of their time travelling between clients may find it inconvenient to gain assurance from the office. Using EditGrid findings can be proofread and edited by whoever is invited to participate.

That said the principle drawback with the new system is security, although continual advances are being achieved in the safeguarding of information. The fact remains that the physical copy of the file is not saved directly on to your hard drive. Therefore may not be a viable means to publish confidential or highly sensitive data.

“Of the 2,249 new software vulnerabilities documented by Symantec during the six-month period -- the highest number it has recorded -- 69% were in Web applications.” [Richmond, 2006]

For the time being is hard to imagine any dramatic migration from the conventional computer based system. However, I feel that it is a real innovation for the near future. As the server performs much of the processing, the desktop becomes resigned to more of a viewing platform, potentially allowing its physical characteristics to be modified to accommodate this new role. Which the mobile phone is almost sufficiently sophisticated to endorse.

A revert back almost like the outdated mainframe set up where the computing function was carried out centrally and each party has a terminal from which to operate from. This has many implications for the travelling professional, lightening the load is it were.

Form the host companies it may save significant expenditure purchasing, upgrading and maintaining highly depreciating assets. Holding thousands of computers is a security threat in itself. Not only are they a potential target for a thief they may also contain venerable information, prevalent to the owner, clients and suppliers. If this were held internally, access restriction may be easier to enforce.

Currently the relative costs and benefits of each is in near equilibrium, I do not predict it will be long before this balance of power is markedly shifted.

Good Luck Microsoft!

Bibliography;

• The Phone of the Future: Wired To Run Your Life, Tricia Duryee; Seattle Times technology reporter

• Waiting for the Web Kym Gilhooly. Computerworld. Framingham: Dec 18, 2000.

• Do Your Virtual Teams Deliver Only Virtual Performance? Jack Gordon. Training. Minneapolis: Jun 2005.Vol.42, Iss. 6; pg. 20, 5 pgs

• Web-Based Software and the New Desktops on the Web Greg R Notess. Online. Medford: Jul/Aug 2006.Vol.30, Iss. 4; pg. 39, 3 pgs

• Hackers' Use of Web Applications in Attacks Rises Riva Richmond. Wall Street Journal. (Eastern edition). New York, N.Y.: Sep 25, 2006. pg. B.5

• Look Out, Microsoft Office Stephen H. Wildstrom, techandyou@businessweek.com. Business Week. New York: Jul 10, 2006., Iss. 3992; pg. 16

• http://www.amazon.co.uk/s/ref=nb_ss_w_h_/202-6702147-0247067?url=search-alias%3Daps&field-keywords=microsoft+office&Go.x=0&Go.y=0&Go=Go

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