Q&A With Aptara’s Pavan Arora: Predictive Semantics & Metadata Resolutions for 2014
What are predictive analytics and how can publishers use it for content development and marketing?
Predictive analytics refers to applying an algorithm to predict actions based on captured data. Semantic tagging helps us apply predictive analytics, which has been so successful for other industries, to publishing. For example, combining semantic sentiment analysis with a predictive algorithm would infer that someone reading a book criticizing President Obama, may be more interested in reading a book by Rush Limbaugh rather than the President's autobiography. Moreover, a different algorithm could infer that based on browsing and buying patterns, more books about President Obama with a positive sentiment about "Obamacare" are being read, rather than books just about President Obama.
How do publishers stand to benefit in terms of revenue?
The two examples mentioned would increase publisher revenues. Accurately recommending books that match customer interest significantly increases conversion. Predictive semantics can automatically feed those recommendations based on customer data. In addition, combining buying patterns with semantics give publishers insight into specific customer demand. As such, publishers can not only source books that are in demand, but also assume what words to use for better marketability. Finally, predictive semantics also can significantly extend discoverability.
What is discoverability and why is it important to book publishers?
Discoverability is the difficult task of translating bookstore merchandising by publishers to the online world. In bookstores, 20% of purchased books originate from patron browsing. In the online world, being discovered translates to search engine optimization on retailer sites as well as mentions on blogs and social media. A publisher's discoverability strategy is a double-edged sword; an effective strategy could spur a book's success while the lack of a strategy could ensure a book gathers virtual dust on a virtual shelf. Aptara is investing significantly in developing a toolset to automate an effective strategy for publishers. Our proprietary tool, currently under development, will help significantly increase conversions by changing metatags and book descriptions in real-time to meet the keywords du jour.
Denis Wilson was previously content director for Target Marketing, Publishing Executive, and Book Business, as well as the FUSE Media and BRAND United summits. In this role, he analyzed and reported on the fundamental changes affecting the media and marketing industries and aimed to serve content-driven businesses with practical and strategic insight. As a writer, Denis’ work has been published by Fast Company, Rolling Stone, Fortune, and The New York Times.