Many businesses can use information aggregation especially e-businesses. I think that people selling antiques can use this way of business to promote their items. It’s sort of similar to social networking. It is difficult to determine the price of an antique because people have different opinions on how much they are worth. There is no set value for an antique; it’s basically what many people think and then that price will become the norm and sometimes the prices keep going up just like real estate.
How much do you think this antique is worth? You don't know if it's a real antique or fake antique. And even if you do know it's real and bought it, how do you know it's real worth until a customer decides to pay you a high amount for it. It can be worth $1000 but some people who don't know how to appreciate it won't even pay $50 for it. But using this business strategy similiar to that of eBay, the more bids the more people will think it's worth a good price.
Another business that can use information aggregation business is online diaries and blogs like xanga, myspace, facebook, etc. The more people join, the more popular the site will become and then even more people decide to join. I remember in highschool and beginning of college everyone used xanga. But then as time went by, my space came into the picture and now everyone I know has facebook. Items become more popular when people start using it and talking about it. Basically the most important hardware in this type of business is a computer with internet connection. More in depth, a database can be setup to improve networking. Like always there are problems in every type of businesses. The most common problem would be legal issues such as privacy issues with personal information being disclosed. Another problem with online businesses are the property rights.
1 comment:
There is no hardware/software configuration
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