Common Value Management

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In current times, next to high quality products or service, being competitive also means to be active on various channels of Social Media such as Blogs, Twitter, Facebook, Google+. This results in a huge workload which can be exemplified by considering small hoteliers. How can they ensure that they are found by their potential customer, i.e., how can they find them? They should have web sites with a high visibility on various search engines, they must be present in a large number of on-line booking channels, they should be found through the web site of the town, and obviously a Facebook site is a must. Also, bookings through mobile platforms are significantly increasing and many of them want to be found also in this domain. Why not add a video about the hotel on YouTube, a chat channel for instant communication, fast email and fax response capabilities, the old-fashioned telephone, and occasional tweets and emails that are clearly distinguishable from spam?

The 1st International Workshop on Common Value Management (CVM2012) focuses on one of today’s major trends, not only in relation to semantic technology research, but also in relation to the industries’ huge demand for tools and consulting in the domain of social media. The term Common Value Management (CVM) serves as an umbrella for three major aspects of today’s organization on-line communication:

Yield Management
also known as Revenue Management "is an economic discipline appropriate to many service industries in which market segment pricing is combined with statistical analysis to expand the market for the service and increase the revenue per unit of available capacity". Yield management is mostly about maximizing the short term gain of an enterprise. One has to monitor price offers of competitors and has to reflect various constraints over offering products and prices in various booking channels.

Brand Management
"is the application of marketing techniques to a specific product, product line, or brand". Here, the long term value of a company is the focus of interest. A brand has been carefully monitored, has an active dissemination strategy and can furthermore be used to maintain and increase the value of the brand. Finally crisis management, i.e., rapid cycles of monitoring and disseminating, has to be performed to protect against significant value loss of a brand.

Reputation Management
"also known as directory management, is the process of tracking an entity's actions and other entities' opinions about those actions; reporting on those actions and opinions; and reacting to that report creating a feedback loop". It can be the general reputation of an enterprise, as well as a public body, political parties etc. Here it is not directly about an economic value, however, about maximizing the impact of a campaign in relation to a certain budget.

CVM addresses these challenges especially in regard to the increasing number of on-line communication channels such as:

  • Broadcasting, e.g.: web sites, news, email, RSS feeds, Twitter, chats, blogs
  • Sharing of information items such as: bookmarks, images, slides, and videos
  • Collaboration through wikis
  • Group communication and interaction through sites such as Facebook, Google+, LinkedIn, XING, and a multitude of specific recommendation and feedback places for certain vertical domains.
  • Semantic-based Dissemination through formats such as microdata, RDF, RDFa, and SPARQL; and vocabularies such as Dublin Core, FOAF, and GoodRelations, schema.org, etc.

We want to emphasize the aspect of bi-directionality in these interactions. This means multichannel dissemination, market and feedback analysis of various communication events, and communication in general as integrated loops of both activities.

The 1st International Workshop on Common Value Management focuses on the scientific and technical aspects of semantics in relation to this topic. In this context, the aims of the workshop are to get an insight in the current state of the art in this field and also to mark current academic and industrial trends in this field. Semantics can hereby be used to describe and establish content, channels, and their alignments.

Five invited talks, given by Rainer Babiel, Florian Engel and Roman Zimmerman, Martin Hepp, Yannis Charalabidis and Julius van de Laar provide the context for much of the work presented in the workshop papers. The very enlightening and engaging invited talks cover aspects ranging from use of semantics in eCampaigning, exposing business information using semantic technologies, new ways to generate value from and for society with ICT as well as how to shape public perception, frame the debate and effectively engage the audience in the digital age.

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