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Amazon uses AI to automatically summarize reviews

08/16/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

Selecting a product on Amazon can be a challenge, especially given the often thousands of reviews a product can receive. To make this task easier, Amazon is currently testing a new feature that uses Artificial Intelligence (AI) to automatically summarize reviews and highlight the most important information.

The basic idea behind this innovation is to provide customers with better guidance amid the plethora of opinions and reviews. In recent weeks, the company has begun testing a new feature. This AI-powered function analyzes all existing reviews of a product and searches for the central statements. It then automatically generates a compact summary from them, showing the product's pros and cons.

Currently, this function is available to selected users of the Amazon mobile app. However, it is only available in English for the time being and only affects certain product categories such as televisions, headphones and smartphones. Despite the still limited application, it is already apparent that the generated summaries have some weaknesses.

It is important to note that this feature is still in the testing phase. The automated summaries are so far occasionally contradictory and repetitive. For example, it can happen that the battery life of a laptop is referred to several times, while at the same time the performance is mentioned as a negative aspect.

The previous summaries tend to emphasize positive aspects more than negative ones. However, some arguments are too generalized to make sense in the context of the product. For example, the "ease of use" emphasized by AI for a smartphone could refer to both the intuitive user interface and the setup of the device.

Amazon describes the AI used as merely a "generative system." Nevertheless, the feature has a filter function that allows users to select certain parameters that are particularly important to them. In the case of sports equipment, for example, these could be properties such as durability, comfort and functionality.

Although AI-based summarization of reviews still has room for improvement, it could make the shopping process on Amazon more efficient in the future. By providing compact information, customers could make informed decisions faster and improve their shopping experience.

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More business registrations in Berlin in the first half of 2023 compared to the previous year

08/16/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

The trade registrations in Berlin have recorded a remarkable increase in the first half of 2023. According to a recent press release from the Berlin-Brandenburg Statistics Office, a total of 21,551 trades were registered with Berlin's business offices, a 3.2 percent increase over the same period last year

Varied picture of trade activity

The report shows a dynamic range of commercial activities in the German capital. The economic section "Trade; maintenance and repair of motor vehicles" recorded the most activity with 4,121 registrations, followed by the construction sector with 3,390 registrations. Also significant numbers were recorded in the "provision of professional, scientific and technical services" section, with 2,835 business registrations.

At the same time, however, the number of business deregistrations also increased by 3.3 percent year-on-year to 16,546, with a number of 3,224 deregistrations recorded in the "Trade; maintenance and repair of motor vehicles" sector and 2,857 in the construction sector.

New establishments and complete tasks

An impressive 91.9 percent of business registrations were new businesses, indicating a continued interest in entrepreneurial activity. A total of 19,795 businesses were newly established. In contrast, 91.0 percent of deregistered establishments ceased operations entirely, representing 15,049 establishments.

Gender and nationality of traders

An interesting picture emerges with regard to the gender and nationality of traders. One third of the total of 16,279 sole proprietorships were registered by female entrepreneurs, an increase of 8.7 percent compared to the previous year. Among the deregistered sole proprietorships, women accounted for 30.6 percent.

It is also striking that a considerable proportion of business registrations and deregistrations came from foreign traders. 43.0 percent of the registrations and 39.3 percent of the deregistrations of sole traders were accounted for by this group.

Multiple economic sections

The business registrations are distributed among various economic sections. Construction is strongly represented with 3,390 registrations, followed by "Trade; maintenance and repair of motor vehicles" with 4,121 registrations. Other significant economic sections include "Professional, scientific and technical services" and "Other economic services."

Conclusion

The business registrations in Berlin in the first half of 2023 paint a positive picture of economic activity and entrepreneurial commitment. The increase in new businesses, particularly by women and foreign traders, reflects the diversity and dynamism of Berlin's economy. This trend could point to a positive economic future for the city, although a continued supportive infrastructure for startups and entrepreneurship remains important.

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Jimdo-ifo Index for July 2023: Business climate for the self-employed continues to deteriorate - need for action by policymakers

08/16/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

The business climate index for the self-employed has deteriorated again in July 2023, and there are signs that there is an urgent need for action on the part of policymakers. The ifo Institute released the latest figures, which indicate that the business climate among the self-employed has continued to decline. Both the current business situation and future expectations were assessed more negatively by respondents. The index for solo and micro entrepreneurs fell by 3.8 to -16.4, while for the economy as a whole it fell by 2.8 to -9.1.

The current trend is reminiscent of the lowest points in recent years. Compared to the low point in October 2022, the assessment of the business situation for solo and micro entrepreneurs has hardly improved. This could be an alarm signal for policymakers, who now need to see themselves in an active role.

Andreas Lutz, chairman of the board of the Association of Founders and Self-Employed People Germany (VGSD), stressed the urgency of positive measures to revive the business climate. The idea of a government commissioner for solo self-employed was discussed as a way to promote the interests of this group and take immediate relief measures.

A positive turnaround is evident in the services sector, which has performed relatively positively in the index since February 2022. However, this sector has also lost ground in recent months. Index scores for the services sector have fallen sharply, and pessimism about future business prospects has increased. This pattern is also evident in various industries within the services sector.

The VGSD, whose members are mostly active in the service sector, emphasizes the diversity of industries in this sector. The different developments in the individual industries highlight the need to pay closer attention to the specific trends and challenges in each sector.

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Create Google Alerts and always keep an eye on your brand & reputation

08/16/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

In today's digital era, where information is disseminated in real time, it is crucial for businesses and brands to keep track of their online reputation. This is where Google Alerts can be an extremely useful tool. Google Alerts is a free service from Google that allows you to create custom alerts and receive regular notifications about relevant online content. This gives you the opportunity to stay up to date with what's being said about your brand and respond to opportunities and challenges in a timely manner.

What are Google Alerts?

Google Alerts are automated notifications that let you know about new content on the web that matches keywords or topics you specify. This content can include news articles, blog posts, forum discussions, social media, and more. By using Google Alerts, you can ensure that you are always in the know about how your brand is being perceived and discussed in various online sources.

How do you create Google Alerts?

Visit the Google Alerts page: go to https://www.google.com/alerts in your web browser.

Log in: If you are signed into your Google account, you will be logged in automatically. Otherwise, please sign in.

Enter your search query: Enter the keywords or phrases for which you want to receive notifications. You can also select specific sources to search, set the frequency of notifications, and choose the type of content (e.g. blogs, news, videos, etc.).

Customize the settings: Click "Show options" to make further adjustments. Here you can set the language, region, and email address to which notifications will be sent.

Preview and Create: After you have customized your settings, click "Preview" to get an idea of what your notifications will look like. If everything meets your expectations, click "Create Alert" to set up the notification.

Preview and Create Notifications.

Why are Google Alerts important for your brand and reputation?

Early detection of trends:

Google Alerts allow you to respond early to trends or discussions related to your brand. This can help you quickly adapt to changing market conditions.

Protect against reputation damage: By monitoring online conversations, you can respond to negative comments in a timely manner and minimize potential reputational damage.

Identifying opportunities: You can also discover positive mentions of your brand and identify opportunities for partnerships, collaborations or marketing activities.

Competitive analysis: not only can you monitor your own brand, but you can also keep an eye on your competitors' online activities.

Conclusion

Google Alerts are a valuable tool for businesses and brands to protect their online reputation and capitalize on opportunities. By regularly monitoring relevant online content, you can quickly respond to changes and ensure your brand is portrayed in the best light. Use this simple and effective tool to stay on top of your brand and reputation.

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How do press photographers send their images to editorial offices?

08/16/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

Press photographers have several options for sending their images to editors. The choice often depends on the technology and preferences of the parties involved. Here are some of the most common methods:

Digital transmission: This is the most common method today. Press photographers take their photos with high-quality digital cameras and then transmit the images to editors via the Internet. They can upload the photos either by e-mail, via special online image services or via cloud storage platforms and provide the editors with the link.

FTP (File Transfer Protocol): Some newsrooms provide FTP access to photographers. This allows photographers to upload their images directly to the newsroom's server. This allows for faster and more efficient transfer of large image files.

Press agencies: press photographers can also sell their photos to press agencies. These agencies act as intermediaries and then offer the images to various editors and media companies. The agencies handle the distribution and sale of the photos and give the photographer a share of the proceeds.

Image editing systems:

Some media companies and editorial departments use special image editing systems to which photographers can upload their images directly. These systems allow editors to quickly review and select images.

Personal delivery: In some cases, press photographers may deliver their images to editors in person. This is often done for urgent or high-value shoots where speed of transmission is of the essence.

It is important that the images are of high quality and often include captions, location, date and the photographer's name to ensure proper attribution and use. Specific methods may vary by region and media landscape.

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