I'm taking my second massive open online course (MOOC) this summer. It's on competitive strategy - basically using game theory to determine the best way forward. It's the first business course I've ever taken and frankly, it's been challenging for me. (You can read about my experience in my first MOOC at Directions Magazine.)
In the first three weeks we drew and solved lots of matrices, like the one at right. My professor is named Tobias, hence Toby's Hairstyle. He's quite good and I really enjoy his lectures.
Finally, in week four we got a map! We were talking about new competitors enterring a market and the ways to keep them out: pre-emption. In the spatial realm, that refers to adding new locations of your existing shops. We looked at new coffee shops coming in around the London School of Economics. We only roughed out where you might put them (left), but it was nice to see and confrim that geography mattered in competitive strategy.
Maps came back in week six when we learned about Hotelling's models. While my professor didn't mention this particular model, we did learn about what others call Hotellings Model of Spatial Competition. The classic way to represent this is by ice cream sellers on the beach and how much marketshare they get depending on where they set up shop (assuming at first at least, same ice cream, same price). One of my fellow students posted the TedEd video, below, that explains it. Good to know geospatial is alive and well in competitive strategy!
by Adena Schutzberg on 08/16 at 06:21 AM |
To see whether social media can offer any insights into how consumers respond to stores' locations, Anastasios Noulas at the University of Cambridge and colleagues analysed 35 million publicly available check-ins from 925,000 Foursquare users in New York over six months. They concentrated on information for three store chains: McDonalds, Starbucks and Dunkin' Donuts.
They used data about the popularity of 2/3 of the outlets to create and algorithm to predict that popularity (based on repeat visits, how far people would travel to the outlet, foot traffic, etc.) for the other 1/3 of the outlets. While each factor predicted some measure of popularity, the algorithm did quite well, "accurately ranking the top 10 per cent of locations 70 per cent of the time."
So, it's possible that social media data may become part of analysis used to find new outlet locations.
- New Scientist
- study from Cornell
by Adena Schutzberg on 08/16 at 05:50 AM |
Chris Bucchere, 37, fatally struck a pedestrian 71-year-old Sutchi Hui in San Francisco last year. He was sentenced to community service and probation yesterday, after pleading guilty to felony vehicular manslaughter. The case is believed to be the first such conviction against a cyclist in the United States. The plea deal, with no jail time, was agreed to by the victim's son who did not want to see Bucchere go to jail.
Of note to those in our industry, Bucchere was using what the paper refers to as a GPS-based program to allow bike racers to compare times, but like you, I suspect he was using Strava. Because it records speeds, prosecutors know he was going 30 MPH when he hit Hui. But that was not all that brought on the high level accusation: he also ran a red light per witnesses at the scene.
Be safe out there.
- Chicago Tribune
Image: CC by NC ND by NCDPS Communications
by Adena Schutzberg on 08/16 at 05:18 AM |