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<HTML>  <HEAD>    <!--SCRIPT LANGUAGE="JavaScript" SRC="http://a1835.g.akamai.net/f/1835/276/3h/www.netlibrary.com/include/js/dictionary_library.js"></SCRIPT>    <SCRIPT LANGUAGE="JavaScript">      if (!opener){document.onkeyup=parent.turnBookPage;}    </SCRIPT!-->    <META HTTP-EQUIV="Cache-Control" CONTENT="no-cache">    <META HTTP-EQUIV="Pragma" CONTENT="no-cache">    <META HTTP-EQUIV="Expires" CONTENT="-1"><META http-equiv="Content-Type" content="text/html; charset=windows-1252"><SCRIPT>var PrevPage="Page_296";var NextPage="Page_299";var CurPage="Page_297";var PageOrder="305";</SCRIPT>  <TITLE>Document</TITLE>  </HEAD>  <BODY BGCOLOR="#FFFFFF"><CENTER><TABLE BORDER=0 WIDTH=100% CELLPADDING=0><TR><TD ALIGN=CENTER>  <TABLE BORDER=0 CELLPADDING=2 CELLSPACING=0 WIDTH=100%>  <TR>  <TD ALIGN=LEFT><A HREF='Page_296.html'>Previous</A></TD>  <TD ALIGN=RIGHT><A HREF='Page_299.html'>Next</A></TD>  </TR>  </TABLE></TD></TR><TR><TD ALIGN=LEFT><P><A NAME='JUMPDEST_Page_297'/><A NAME='{9D2}'/><TABLE BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH='100%'><TR><TD ALIGN=RIGHT><FONT FACE='Times New Roman, Times, Serif' SIZE=2 COLOR=#FF0000>Page 297</FONT></TD></TR></TABLE><A NAME='{9D3}'/><TABLE CELLPADDING=0 CELLSPACING=0 BORDER=0 WIDTH='100%'><TR><TD HEIGHT=12></TD></TR><TR><TD><TABLE CELLSPACING=0 BGCOLOR=#C0C0C0 BORDER=1 BORDERCOLOR=#000000 WIDTH=614 CELLPADDING=5><TR><TD ROWSPAN=2 WIDTH=614 VALIGN=TOP><TABLE BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH='100%'><TR>  <TD ROWSPAN=5></TD>  <TD COLSPAN=3 HEIGHT=12></TD>  <TD ROWSPAN=5></TD></TR><TR>  <TD COLSPAN=3></TD></TR><TR><TD></TD>  <TD ALIGN=CENTER><FONT FACE='Times New Roman, Times, Serif' SIZE=2><B>OptiMark: The AI Middleman</B> (<I>continued</I>)</FONT></TD><TD></TD></TR><TR>  <TD COLSPAN=3></TD></TR><TR>  <TD COLSPAN=3 HEIGHT=1></TD></TR></TABLE><TABLE BORDER=0 CELLSPACING=0 CELLPADDING=0><TR>  <TD ROWSPAN=5></TD>  <TD COLSPAN=3 HEIGHT=12></TD>  <TD ROWSPAN=5></TD></TR><TR>  <TD COLSPAN=3></TD></TR><TR><TD></TD>  <TD><FONT FACE='Times New Roman, Times, Serif' SIZE=2>middleman find the right deal. The system would seek to match consumers and retailers wherever they can be matched, creating a compromise with the best possible trade.</FONT></TD><TD></TD></TR><TR>  <TD COLSPAN=3></TD></TR><TR>  <TD COLSPAN=3 HEIGHT=1></TD></TR></TABLE><TABLE BORDER=0 CELLSPACING=0 CELLPADDING=0><TR>  <TD ROWSPAN=5></TD>  <TD COLSPAN=3 HEIGHT=12></TD>  <TD ROWSPAN=5></TD></TR><TR>  <TD COLSPAN=3></TD></TR><TR><TD></TD>  <TD><FONT FACE='Times New Roman, Times, Serif' SIZE=2>The OptiMark vision: all trading interests and requests are processed via an Al system instantly and continuously via the Web, making all the mathematically and logically possible matches between consumers and retailers. No consumer would ever pay more than they wanted and retailers would never undercut themselves unnecessarily.</FONT></TD><TD></TD></TR><TR>  <TD COLSPAN=3></TD></TR><TR>  <TD COLSPAN=3 HEIGHT=1></TD></TR></TABLE></TD></TR></TABLE></TD></TR></TABLE><BR><A NAME='{9D4}'/><TABLE BORDER=0 CELLSPACING=0 CELLPADDING=0><TR>  <TD ROWSPAN=5></TD>  <TD COLSPAN=3 HEIGHT=12></TD>  <TD ROWSPAN=5></TD></TR><TR>  <TD COLSPAN=3></TD></TR><TR><TD></TD>  <TD><FONT FACE='Times New Roman, Times, Serif' SIZE=3>long the bid has been open, what the starting bid was, the number of prior bids made, how many other retail items this bidder has bought, etc., all of these factors can be analyzed. Online bid websites can use such modeling tools as neural networks to model starting prices for their items. Through the strategic use of data mining technology, the electronic auctioneer can edge their profit margins on consumer items they put up on the electronic block for bid.</FONT></TD><TD></TD></TR><TR>  <TD COLSPAN=3></TD></TR><TR>  <TD COLSPAN=3 HEIGHT=1></TD></TR></TABLE><A NAME='{9D5}'/><TABLE BORDER=0 CELLSPACING=0 CELLPADDING=0><TR>  <TD ROWSPAN=5></TD>  <TD COLSPAN=3 HEIGHT=12></TD>  <TD ROWSPAN=5></TD></TR><TR>  <TD COLSPAN=3></TD></TR><TR><TD></TD>  <TD><FONT FACE='Times New Roman, Times, Serif' SIZE=3>The Web represents a seamless marketplace combining pattern-recognition technology, telecommunications, and commerce. In this fluid marketplace, structural changes will impact retailing, transforming marketing methods by hardwiring consumer demands directly to product design, manufacturing, quality, performance, and pricing. Competitive strategies will impact entire industries and consumers will drive the changes to the marketplace. Consumers will select content and interact with producers and retailers in the design of their own products. The voluminous nature of digitized transactions in this type of networked environment leads to the prevalent use of data mining software enabling retailers to interact with customers and to create and process digitized products.</FONT></TD><TD></TD></TR><TR>  <TD COLSPAN=3></TD></TR><TR>  <TD COLSPAN=3 HEIGHT=1></TD></TR></TABLE><A NAME='{9D6}'/><TABLE BORDER=0 CELLSPACING=0 CELLPADDING=0><TR>  <TD ROWSPAN=5></TD>  <TD COLSPAN=3 HEIGHT=12></TD>  <TD ROWSPAN=5></TD></TR><TR>  <TD COLSPAN=3></TD></TR><TR><TD></TD>  <TD><FONT FACE='Times New Roman, Times, Serif' SIZE=3>Today, money is nothing but a type of data moving from one system to another, with data mining being nothing more than a technique of trying to recognize and anticipate these evolving patterns. Electronic retailing represents a growing exchange of this type of data over the Internet&#151;where consumers and retailers create an evolving process&#151;much as an organism develops a nervous system. In this type of networked marketplace the processing and analysis of these digitized transactions will allow companies to know who their customers are. It will allow them to leverage human-emulating technologies for recognizing and calibrating their customers' loyalty and value.</FONT><FONT FACE='Times New Roman, Times, Serif' SIZE=3 COLOR=#FFFF00><!-- break --></FONT></TD><TD></TD></TR><TR>  <TD COLSPAN=3></TD></TR><TR>  <TD COLSPAN=3 HEIGHT=1></TD></TR></TABLE><A NAME='{9D7}'/></FORM></P></TD></TR></TABLE><P><FONT SIZE=0 COLOR=WHITE></CENTER><A NAME="bottom">&nbsp;</A><!-- netLibrary.com Copyright Notice -->  </BODY></HTML>

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