lecture 10

chapter 11

Web 1.0

first generation; view-only, no interaction

Web 2.0

second generation; users can interact and contribute

collaborative consumption

sharing products/services while keeping ownership

peer production

collaboration between users to create content and services

wisdom of crowds

large group of amateurs can collectively be more accurate than a few experts

prediction market

market aggregating opinions into a forecast

inbound marketing

pull strategy, attract customers with valuable content that make users want to engage with the firm

outbound marketing

push marketing strategy where a firm reaches out to customers (ads) rather than waitinf for users to discover them on their own

owned media

channels a company fully controls ex. own website, inbound marketing

paid media

advertising a company pays for, outbound marketing

earned media

free, organic publicity, inbound marketing

astroturfing

faking positive reviews to seem more popular

sock puppet

fake online identity used to push a viewpoint

blogs

journal style posts, newest are shown first

trackbacks

links in a blog post pointing back to cited sources

roll back

reverting a wiki page to an earlier version

searchability

current and archived posts that are easily searchable

tagging scheme

organized system of labels attached to posts or pages so content can be grouped and sorted by topic, rather than just by date

reverse time order

the way posts are organized so that the most recent content shows up at the top

unfiltered publication

abiity to post freely without limits or media gatekeeping

independence (crowd condition)

guessing without being influenced by others; most important condition for wisdom of crowds

decentralization (crowd condition)

crowd’s info comes from many spread-out sources, not one biased channel

diversity (crowd condtion)

crowd has different backgrounds/perspectives, not people who all think alike

participation (crowd condition)

enough people actually contributing a guess for the crowd’s average to work

blockchain

a shared record of transactions stored across many computers instead of one central place

hash (blockchain)

unique code made from a block’s data; changes if the data is changed

block

group of transactions linked to the block before it using a hash

decentralization

no single company or person controls the data