The term Common Value Management (CVM) serves as an umbrella for three major aspects of today’s organization on-line communication:
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.
"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.
"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: booksmarks, 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 bidirectionality 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 first International CVM workshop focuses on the scientific and technical aspects of semantics in relation to this topic. In this context, it aims 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.
- THE BASICS OF REVENUE MANAGEMENT, Integrated Decisions and Systems, Inc., 2005