Data Research Firm: 96 Percent of Companies That Exist Today Will Fail in 10 Years

Anyone involved in marketing knows the adage as old as advertising itself: “Half the money I spend on advertising is wasted; the trouble is I don’t know which half.” The reality may be worse though – not just a half, but an absolute majority of marketing budgets is wasted on customers that don’t generate enough profitability, says Peter Fader of the Wharton school of economics at the University of Pennsylvania.

The rise of big data and analytics technology promises to change that situation. Today, decision-makers are increasingly able to tell a wasted marketing budget from an effective one.

Nevertheless, few companies have what it takes to tap into big data riches, and the consequences may be dramatic. Singapore-based data science firm DATAVLT says that 99 percent of corporate data is wasted and never used to draw knowledge from it. Only one percent of the data companies collect and store is ever analyzed. This, according to DATAVLT, will cause as much as 96 percent of businesses that exist today to fail in 10 years.

Worldwide, big business is coming to realize the importance of data analytics. According to a 2017 Gartner study, “Out of 13 marketing capabilities, chief marketing officers [polled by Gartner] allocate 9.2 percent of their total marketing expense budget on marketing analytics — the most of any capability.” Only a couple of years earlier, analytics occupied 4th place in terms of marketing spending.

In absolute numbers, spending 9.2 percent of a marketing budget of, say, $10 million is $920,000, and not an uncommon price tag for data analytics projects. Amazon spends $7.2 billion on marketing worldwide, and data analytics is Amazon’s core competency. Data science truly becomes the secret weapon of large corporations to cut costs and anticipate customer expectations.

Smaller businesses in danger

But what kind of insight can $5,000, which is 10 percent of a marketing budget of, say, $50,000, buy? Right now, not much. “If you do not have five to six figure budget, you will not get anything of value out of the data”, said DATAVLT’s co-founder Michelle Yeo to Cointelegraph.

According to PayScale, a median data analyst salary in Shanghai, China, is around $14,000 a year. In Singapore, the same skill set is worth about $33,839 a year, without bonuses. This is a bare minimum expense required even to be able to analyse data with at least some sophistication. Expensive analytical tools add even more to the price, without any break-through results guaranteed.

DATAVLT says that if their predictions are correct, the first candidates for extinction are small and medium businesses.

Affordable intelligence

Despite the doom and gloom, DATAVLT sees an opportunity for itself. The company targets its affordable Software as a Service (SaaS) data analytics product specifically to smaller and medium business, seeing the most potential demand in the Asia-Pacific region. It bets on blockchain as a cost-cutting tool. Even with a share less than 0.01 percent of the current market, DATAVLT plans to achieve a revenue of about $50 million in seven years.

In essence, DATAVLT’s platform crosses all available and relevant customer data, for example, services consumption, communication and behavior, with different external and open data sources. The engine takes into account economical, sociological, and anthropological information, and then correlates the data with behavioural inputs like profiling, tonality, and sentiment. The result of this correlation is data which is much deeper and analysis that is more meaningful, the company says.

“It is about empowerment. In an age where the norm is for large corporations to dominate, we can build something inclusive where independent brands can thrive and play a role in building the community together as an alternative. For that to happen, we actually have to help each other out”,  says Michelle Yeo.

Disclaimer. Cointelegraph does not endorse any content or product on this page. While we aim at providing you all important information that we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor this article can be considered as an investment advice.

One Cryptocurrency to HODL, Two to FODL (YOYO, BCHABC, BCHSV)

Forks can be beneficial to the cryptocurrency space. This is specifically true when they add desired attributes to underlying cryptocurrencies. In many instances, forks do not bring any benefit but are the result of infighting.


Cryptocurrency Chaos: BCHSV and BCHABC

Cryptocurrencies dealing with infighting and hash wars should be avoided while coins reaching milestones with tiny market caps should be accumulated. Following this logic, both Bitcoin Cash forks should be sold, while the project YOYO deserves major recognition. YOYO is a HODL, while BCHSV and BCHABC are both immediate FODLs.

“BTC is the new stable coin,” was the resounding statement the prior month. Right as the entire cryptocurrency market expected stability from the market leader it lost more than 10 percent in under 48 hours. Many speculated about the reasoning but it seems fairly clear to those who did a little investigating.

Bitcoin Price Analysis: Will Bitcoin Bite Back?

The Bitcoin Cash [BCH] 00 fork sent the market into a tailspin this week. Now that the BCH fork has concluded it seems the same fork that created market panic has demonstrated bullish market signals.

Let’s start with the lovely ticker symbols: BCHSV and BCHABC.

Bitcoin Cash price technical analysis BCH

How can anyone take someone seriously when they claim “BCHABC is the original BTC.” The sentence is almost laughable. When the parties that tore BTC apart were working in tandem to try to be the ‘original BTC’ they had a chance. Albeit a small chance, one that existed. Now having forked their fork, neither Bitcoin maximalist nor novice cryptocurrency trader will believe BCHSV or BCHABC is the “original bitcoin.”

Could either be a possible winner regarding a short-term trade? Sure, however, regarding long-term utility, neither solves a problem BTC 00 has not already resolved, and neither have communities like the original BTC.

With discussions raging regarding a hash war between the two new BCH chains, it seems like neither is the ‘right’ choice in the short term.

To capitalize on the market rebound that is likely to occur from this week’s overcorrection small caps on the largest exchanges should be targeted.

A cryptocurrency that clearly meets most investors guidelines with a tiny market cap on major exchanges is YOYO.

YOYO (YOYOW)

 YOYO, is a clever acronym for “You Own Your Own Words.” YOYOW trades under the ticker symbol YOYO 00. The concept behind YOYO is very simple; you own what you create. The content a user creates deserves to be rewarded.

What makes YOYO a unique acquisition target, especially during this week’s correction are multiple things:

  1. Confirmation speeds of 3 seconds compared to BTC’s 10 minutes.
  2. A throughput of more than 3,000 transactions per second.
  3. The first blockchain authorization login.
  4. Network governance for token holders.
  5. The total circulating supply is equal to the total supply.
    1. This means all coins are in circulation and the team is unlikely to be able to ‘dump’ on the market during major price shifts.
  6. The market cap is under $7.5 million and is traded on multiple Top 5 exchanges.
  7. 2018 Q3: Dapps were integrated.
  8. 2018 Q4: Token Feature Optimization, Authorization Feature, Lockup Feature, and Dividend.
  9. 2019 Q1: Enable Content Rewards.

Finbitex

There are almost 10 reasons that make YOYO a short-term acquisition target as they roll out their content rewards at the beginning of next quarter. Confirmation speeds of just seconds mean your cryptocurrency can be sent anywhere and received before a sentence can be completed. Being able to process 3,000 transactions per second means as a payment for content provider they will be well ahead of the curve.

YOYO intends to be the first blockchain with authorization login. This feature will separate YOYO from the majority of other similar content platforms. Those who hold tokens of any cryptocurrency appreciate being able to help govern the platform, this attribute will be implemented for YOYO imminently.

The market cap of YOYO being under $7.5 million makes it a ripe target for rapid growth as any substantial news or meeting of deadlines will push the market cap exponentially higher.

Despite the bear market, YOYO continued to integrate Dapps while building out their reward and incentive platforms. This quarter has the implementation of many of YOYO’s coin features. This includes their Authorization Feature, Lockup Feature, Dividend, and Governance.

It does not appear that either BCH fork added any value to the cryptocurrency space but instead created a 48-hour correction. Due to their lack of adding real value or utility both BCH forks should be avoided.

YOYO is a project that deserves the attention being diverted to unnecessary forks and market corrections.

Look for YOYO to outperform during any rebound the next few days and through the possible upcoming bull run.

[Disclaimer: This views expressed in this article do not reflect the views of Bitcoinist and should not be taken as financial advice. Also, this is the first time the word FODL has been used (opposite of HODL)**]


To read the Crypto King’s prior articles or to get in contact directly with him, you can on Twitter (@JbtheCryptoKing) or Reddit. The King is the founder of ANON and actively trades cryptocurrencies.

Crimea to Set Up Blockchain University to Help Countries Evade U.S. Sanctions

Crimea, a disputed territory between Ukraine and Russia, is heading towards the creation of an international center for blockchain technology. Authorities in the Crimean Peninsula regard blockchain technology as a solution for states under international sanctions. Crimea was annexed by the Russian Federation in 2014 following a coup d’etat in Ukraine. The majority of international governments, however, continue to regard Crimea as an integral part of Ukraine.Russian-Annexed Crimea Finds Crypto Niche: Evasion of U.S. SanctionsRoman Kulachenko, the President of the Crimean Republic Association of Blockchain Technologies Investment told Russian news agency TASS that the public entity has proposed the creation of a university or courses to advance knowledge of blockchain technology in the peninsula.“[It is proposed] to create a university or courses for blockchain specialists, including for the authorities. There are a number of states that, like the Crimea, are under sanctions – for example, South Ossetia and Abkhazia. We have the same problems and center will allow us to combine efforts and solve the problem.”A number of countries have considered or already started using cryptocurrencies as a tactic to circumvent international sanctions against them. Iran, for example, has recently been ousted from SWIFT’s financial banking system as part of the US-led sanctions. Without SWIFT’s system, its economy will face increased difficulty to settle its international deals. In response, the authorities in Iran have accelerated the development of their state-backed national digital currency.Sanction-ridden Iran is a typical target country, according to Kulachenko description. The Islamic republic may eventually send a number of IT experts to study blockchain in Crimea once the proposed university becomes a reality. Russia, which is also under international sanctions since the annexation of Crimea in 2014, has also been in talks for the creation of crypto ruble in order to evade sanctions.  The plans of Russia and Iran are no secret. An Iranian MP has explicitly said that cryptocurrencies should be used to work around returning economic sanctions from the United States.North Korea has also made the news for ramping up the use of cryptocurrencies to evade US economic sanctions. The pariah country plans to launch its own digital currency to facilitate the opening of online accounts under the guise of a non-adversarial nation. The method would include using anonymous communication to conceal the user’s locations and usage on the internet. Independent financial analysts believe the DPRK may create its own wallet services so they can to move funds to European-based accounts in order to make their way to European exchanges that have relationships with U.S.-based banks.