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From Social Networks To Market Networks

In today’s world, networking with others seems to be a main component in one’s business life that can make their life a lot easier. It’s all about who you know! There is a lot of talk about market networks and how they could be the social network of the future. These new market networks that are being developed/ already developed are taking social sites like Facebook and combining them with business sites like Airbnb where the end result could be extremely beneficial to all parties involved. As the website states, “Market networks will produce a new class of unicorn companies and impact how millions of service professionals will work and earn their living.” In today’s digital world, there are so many transactions that take place. The software being developed will make these transactions quicker, more secure, and will provide a wide variety of services. Where these sites would flourish would be from a connection point of view. Sites like Facebook and LinkedIn have always done a good job in building professional relationships, but these market network sites would incorporate the commerce and transaction side of it.

I found this article to be relevant to the class because it will be be similar to the diagrams we drew in class on Facebook when connecting these nodes to other nodes (friends to friends of friends) which would parallel the new market networks creating business with other possible businesses that could benefit them. It would be like the “people you may know” on Facebook, except they would suggest services that the website thinks may benefit your company. As we learned in class, each business would act as a node, and the links would be each transaction done with each company. Therefore the algorithm written would have to take into account the type of business each node was and make accurate suggestions for services.

 

Link: http://techcrunch.com/2015/06/27/from-social-to-market-networks/#.aje0vg:LQeR

 

 

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