Moore’s law suggests that computing power increases by two fold every two years. With increasing computing speed and ubiquitous access to big data, the speed of technology change has been vast – even in the publishing industry. At Ingenta, we’re proud to be harnessing some of this clever technology through products like Ingenta Audience a data management platform which processes enriched data to give you valuable insights on your users. We’ll explore what else has been happening in the industry over the coming weeks, starting with:
Recipe for a bestseller
Digital publishing and bookselling have given publishers access to a great deal of information about why, when, and how readers buy books, whether they complete them, and what other titles they might want to read on the same subject. This valuable information can help publishers to make informed decisions on the types of products they publish, how they should sell them and what marketing they should invest in. However, in general, publishers are still grappling with ways to make big data work to their advantage, and like many companies in many other industries, they are simply drowning in a sea of data.
Turning big data into a big opportunity is one main challenges publishers are currently confronted with. But there are signs that some interesting innovations, which could potentially help them navigate these oceans of data, are just around the corner, particularly in the form of predictive technologies. The Bestseller Code: Anatomy of the Blockbuster Novel, a book by Jodie Archer and Matthew L. Jockers, made waves this year. The book claims that the duo have developed an algorithm which can predict if a book will be a hit by highlighting the key identifiers within the text which are similar to previous bestsellers. Although publishers are divided about whether or not an algorithm can predict the intimate connection an editor or reader has with a novel, many are speculating whether this algorithm could effectively be used by publishers at the acquisition stages as a decision-making tool.
For any of you looking for a last minute Christmas present, we certainly recommend this book for any publishers.
Ingenta is the world-leading provider of content solutions that transform business. We cover the publishing process end to end with commercial and content management systems, advertising software and content services. Combining our unmatched publishing knowledge and global operations, Ingenta solves the fundamental issues content providers face