How to Run a Successful Law Firm

Running a law firm can be a very lucrative enterprise, with leading firms such as Kirkland & Ellis and Latham & Watkins having annual revenues of around three billion dollars, generating huge profits. Of course, these are large and well-established companies that have gained enviable reputations over a prolonged period of time, but what can law firms of all sizes, new and old, learn from their example?

Finding the Right Clients

One thing that unites the world’s wealthiest law firms is that they focus heavily on attracting and retaining premium clients. This is even more important for law firms that operate with a relatively small number of partners, as time wasted on low level clients can seriously impact upon both profitability and prestige. Smart law firms know to target potential clients that offer higher profits per partner, as this is the vital equation when it comes to creating, sustaining and building a successful law firm. As you might expect, there’s fierce competition for premium clients, but the key to increasing your chance of winning them is to engage in regular and open communication with them, addressing their problems and revealing how your firm can solve them.

Learning from Others

Because law is such a competitive business, it can at times seem like a dog eat dog world, but in fact the most successful law firms in the world recognize the importance of learning from others in their field. When running your own law firm, you should be prepared to attend seminars and other networking events where you can mix with, and learn from, your peers. It can also prove helpful to subscribe to a leading law firm newsletter from a high reputation provider such as Lawbiz, as they not only keep you up to date with changes in legislation, they also contain a plethora of business tips that can help your firm reach its true potential.

Marketing Your Law Firm

Law firms are a unique corporate entity, but just like businesses in all sectors, one thing is of vital importance when it comes to gaining customers: marketing. Modern law firms have to use their online presence as the central aspect of their marketing strategy, and this also means that they should have well-maintained and regularly updated social media profiles that promote the firm as being professional, reliable and forward thinking. The regular production of newsletters can also help to sell your company and its services, and it’s important that these newsletters should be sent to existing and target clients. Contributing to books, newspapers and other media outlets can also help to get your law firm noticed by all the right people.

Having high quality partners and employees is essential to the success of the law firm, but every firm also needs to think seriously about how to attract premium clients, build reputation and market themselves in a way that provides a significant return on investment. However big a law firm is, one of the best ways to do this is to build up their reputation by networking with peers and learning from the examples set by law giants such as Kirkland & Ellis.

March 30, 2018 at 11:01pm
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Gold Could Soar Ahead – Wall Street

 

 

Gold has been an interesting commodity to watch as of late, and for good reason. While market conditions and economic conditions have been improving as of late, gold continues to fly. In fact, year to date, gold has outperformed the S&P 500 with 2.4% gains in the S&P and about 3% gains in gold.  However, the gold bugs are lighting up as many believe that we’re just seeing the beginning. In fact, some believe that gold could have a dramatically positive year as all factors seem to be aligning perfectly. Pointing to inflation, a weaker USD, and coming rallies due to jewelry and gold decoration sales, the bulls are looking for great times ahead.

Inflation Is Headed Up – A Good Sign For Gold

One of the many factors that are important to pay close attention to with regard to the price of gold is inflation. At the end of the day, increases in inflation generally lead to gains in the values of globally traded commodities.  Most recent figures show that inflation is on the rise in the United States, which is a great thing for gold. In the month of December, year over year growth in inflation came in at 2.1%. While the news caused gold prices to fall slightly at the time, strong inflation generally leads to strong gains in commodities over time, which we’ve seen from gold in the first 3 months of 2018.

Inflation on The Rise in The US

Most recent figures show that inflation is on the rise in the United States, which is a great thing for gold. In the month of December, year over year growth in inflation came in at 2.1%. While the news caused gold prices to fall slightly at the time, strong inflation generally leads to strong gains in commodities over time, which we’ve seen from gold in the first 3 months of 2018.

A Weaker USD Is Likely To Help Push Gold

Another factor that the gold bugs argue is going to push the price of the commodity through the roof is a weaker USD. In general, a weaker USD in comparison to other global currencies makes gold more accessible around the world. This is the result of the fact that gold is generally priced using the USD mixed with changes in currency exchange rates as the USD weakens.

While the USD started the year off on a relatively strong note, over the past three months, the value of the currency has weakened against others, helping gold to outperform the S&P 500 thus far this year. Many believe that Donald Trump’s Presidency will likely continue to lead to weakening in the USD. At the end of the day, Trump has been clear that a strong dollar isn’t necessarily good for the United States. Therefore, the gold bugs say that his policies will likely continue to weaken the USD, helping to prop up the value of gold and other commodities.

Now Is The Time For Gold Jewelry And Decoration Demand

On top of the data surrounding inflation and the USD, the gold bugs point to one more positive. At the moment, we’re entering a season when gold jewelry and decoration demand starts to hit tremendous highs. Pretty soon, the wedding season in India will begin, and with gold being a key piece of any wedding in the country, demand for the precious metal is going to fly in the region. In general, this starts what we know to be the “Love Trade” in the gold industry with the Indian wedding season starting in September and the season of gold demand going through the Chinese New Year in February.

Gold Is Poised For Growth

Moving forward, there are several points of support for gold. With strong signals coming from inflation, the USD, and jewelry demand, we could see strong gains in the value of the precious metal ahead!

March 29, 2018 at 10:02pm
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Bitcoin Investment Worse Than Gambling Russian Minister Says

 

The Russian Opinion

Opinion is widely divided the world over on what to do with Bitcoin and its cohorts of cryptocurrencies. Just a few days when it was widely reported that the Russian government was intending some form of licensing and taxation on the cryptocurrency industry, the Russian Minister for the economy has come out with an attack on Bitcoin specifically.

The Minister in an interview expressed the view that Bitcoin investments is as unsafe they come, saying that its risks are greater than playing the roulette with your money at the casino.

Bitcoin The Extreme Volatility

Makshim Orekshin expressed the view that the extreme volatility of the cryptocoin makes it paramount that government must only allow its access to qualified investors who can read the risks involved. Mr. Orekshin at the World Youth and Students Festival in Sochi said that “Bitcoin as an asset is wildly unstable; one minute it goes tens of percents up then the next it goes tens of percents down. As an asset that is available to the layman it must not have such wild characteristics. Because you can earn big one minute and then lose everything you have the next minute”

“Those who are not familiar with the risks of such assets must not have access to it” He added further, “because in almost every instant the result will be disastrous for such people”

The Economic Minister’s comment hints that even within Russia, there is no consensus on what form of regulation the cryptocurrency industry should be placed under. Only a few days back, the Minister of Finance proposed a licensing exercise for bitcoin mines and exchanges, while the President Vladimir Putin has been reported in the past to be leaning towards creating a National Cryptocurrency controlled by the government which will be known as the CryptoRouble.

While governments continue to bicker with one another, Bitcoin and other cryptocurrencies continue their wild gains this year.      That’s a Fact Jack !

 

March 28, 2018 at 11:04pm
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March 28, 2018 at 9:32am
Six Amazing Financing Options for Start-up Businesses
Start up Businesses
Business depends upon the idea and vision of an individual or a group of people, and one cannot start it until and unless is confident about the idea. The biggest advantage of… https://t.co/H2TVTY7aOU


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Six Amazing Financing Options for Start-up Businesses

Business depends upon the idea and vision of an individual or a group of people, and one cannot start it until and unless is confident about the idea. The biggest advantage of having your own business is that you have your own choices and you get to make your own independent decisions. But certain requirements of the business must be fulfilled. You should make sure that you have the abilities to start up a new business and along with that you are ready to give your time and strength to it as the establishment of a new business requires them all.

After this, the primary thing that comes in the way to start your own business is the lack of capital. One of the most basic things that every businessperson needs at some point either to continue, to establish or to start a new business is the loan. When any business entity has less capital, then it not only affect the progress rate of the entity but also decreases the employment rate which ultimately affects the lives of many people. There are many ways by which you can get loan and the biggest mean is the bank. It is also very important that you prepare a solid business plan. You should gather all the information regarding your business niches such as the information of the ownership and the management, the objective of the business, marketing plans and financial projections. You should also present your idea to the lenders. It will help them to develop confidence in your vision.

Along with that, a written business plan is always preferable as it contains all the information that the lender would need to check whether the firm is in a position to return the loan taken or not. It contains all the profit and loss statements, bank statements, business credit reports, personal credit reports, tax return documentation and copies of all the relevant legal documents. Do you want to start a business of your own? Are you passionate about business and related stuff?! Well, the two basic things that you need in order to start a new business are capital and your devotion, of course. So here I have six amazing financing options for startup businesses. Have a look at them:

f you want to start a business a

If you want maximum profit out of your business, then you will have to finance it personally. How do you expect any banks or lenders to take a risk in you when you are not willing to take a risk in yourself? There are numerous ways to finance your business personally. You can save up from your personal income, or you can also liquidate some assets to get the startup money. You can gain the finances for your business is through your property.

It can create a big role for the investment towards your business. You can pledge your property to gain enough amount of money for starting your business as personal assets play an important role in helping the lender decide to lend you the amount. They act as a guarantee to the lender that in case you fail to pay back the amount on given time then the amount can be recovered from the assets. But do all the necessary calculations and make a solid and effective business plan so that you don’t end up wasting your hard earned money. And your business can be more profitable if self-financed due to the ever-increasing interest rates of banks and private lenders.

 

If you don’t have enough resources to finance your business personally then acquiring a loan is another option you can avail. Keep in mind that loans don’t get approved so easily. You will have to ensure the lenders that you are worth taking the risk. Here are some tips that you should keep in mind while applying for a loan.

  • Start the application process before you need the money
  • Create a detailed business plan
  • Show how the business will be profitable
  • Try to improve your personal and business credit score
  • Consult professionals to look over the loan agreement before you sign it

 

Partnerships are a great way to finance a startup personally without any involvement of banks. Gather some friends and family members that you can trust and form a partnership to finance the business. But involving business with relationships can sometimes cause problems and can lead to damaging the relationships with your loved ones. So to avoid this problem, you should form a legally binding contract that specifies the roles of all the people involved in the business.

 

  • Incubators and accelerators

Incubators and accelerators are companies that finance your business in return for some equity. They also provide you access to experienced professionals and business contacts to improve your odds of success. But like a loan you need to show these companies that you are worth the investment and your business plan will be profitable.

 

Crowdfunding is the process of raising money to fund what is typically a project or business venture through many donors using an online platform, such as Kickstarter, Indiegogo and Crowdfunder. Crowdfunding is typically done through an online platform that allows the fundraiser to set up a public campaign for accepting donations. The campaign will advertise details such as the nature of the project or venture, the amount of money the company is hoping to raise and the campaign’s fundraising deadline.

People can donate a specified amount through the fundraising campaign’s website and often receive some sort of acknowledgement or reward in return for their donation. These websites are a centralized way for startups to reach out to a large community. Many YouTube channels got their startup funding from crowdfunding websites.

 

If any of the previous options are not available, you always have family and friends to look back to. You can ask your friends and family members to loan you the startup, or you can ask them to invest in your business. It is the most common way through which you can take the loan for a start-up business. You can always convince them to lend you the loan. Where you will need to return the loan you take, you won’t have to pay any interest on them and you won’t be under any extreme pressure by your friends and family. Just make sure that you don’t let the money ruin your relationships.

 

Author Bio:
Emily Stark is a financial analyst and accounting expert. She has in-depth knowledge about setting up small businesses as well as creating profitable investments. She regularly contributes articles related to business and loans at https://www.ebroker.com.au/.

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Steps For Boosting Your Investment’s Success

There are usually two ways to make a profit on your investments. One is through value investing, which involved investing when the stock that you want to buy is on sale. The other is momentum investing, where you invest when the stock is at its highest due to the idea that when something is in motion, it tends to stay in motion.  Of course, how you choose to trade when it comes to investments is up to you. What’s important is that regardless of how you choose to invest, that you understand what it takes to ensure that your investments are a success. If you need to make sure that your returns on your investment are positive, then it’s important to be mindful of the steps that you take. For everything that you need to know to give your investment the best chance of success, read on.

 Be mindful of what you invest in

When it comes to business success for investments, it’s vital that you are mindful of what you invest in. You see, not all investments are born equal, which means that if you are serious about succeeding when it comes to investment, it’s important to be mindful of what you are investing in. You need to understand what the risks are and what your chances of success are – you don’t want to invest without being mindful of what you’re investing in and what potential your investments have.

Have adequate support in place

If you are going to make a success of your investments, it’s vital that you have a strong support system in place. You can’t know everything that there is to know about your investments, which is why having some support in place, such as assistance from a financial investment specialist service such as Betterment, could be highly beneficial. When it comes to managing your investments and other finances, it’s vital that you understand how best to go about it to help increase your chances of your investment giving you the results you want.

Put enough time in

Think of your investments as a business; if you want things to go well, you need to put plenty of time and effort into it. The investment sector is adapting and changing all the time, so if you want to remain relevant, you need to do so too. That’s why it’s vital that you put plenty of time into your investment, to ensure that you are able to achieve what you want to with it. If you’re unsure about anything, take the time to research it. You can’t achieve investment success if you don’t know what you’re doing.An investment can be a great way to make a profit and increase your savings, but what it’s important to understand is that it’s not always an easy area to navigate. The investment process is one that is not simple or straightforward, there’s a lot that has to go into it, which is why it’s so important to take the time to focus on each aspect of an investment carefully.

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Strategies to Boost Search Engine Optimization of your Website

Today Digital Marketing become one of the significant keys for a various platform and as time pass it will become one of the potential platforms.The internet is highly used to promote a business because most of the people are depending on the internet for every activity and hence depending on the internet for developing business is becoming very common.There are so many e-commerce websites and you can get every type of product on the internet.To seek customers towards your website the SEO of a website is a vital factor as it directly affects your business.Therefore before opting for online business practices for  SEO boosting should be considered well.

SEO management practices

There are various ways of online marketing.For better exposure of your product to get large numbers of users from across the world digital marketing will help you in a better way to take your business one step forward.To do say there are different types of practices for search engine optimization management and you can apply them to your website.Because a website is an essential component of your online promotion.Pay special attention to its design and structure and get a maximum outcome from it.Here are some tips that you must consider for boosting of the search engine optimization for your website.

Sponsored posts

Once you built a reputation of your website you will start getting endorsements for it and sponsored or guest post are part of it.To recognize your work there are chances that you will get offers for sponsored or guest posts.When you start sponsored post be sure that the content must be quality content, opinions must be honest and must be user-friendly.The most important factor is to be considered that you should only opt for sponsored posts which are well related to your website and must be informational which provide value to users.You can get more different topics through Sponsored posts to elaborate your website.Just maintain the reputation of your website while doing sponsored post by selecting post which is suitable for your site.

Tie up with Another website

It is important to connect or tie up with another website for boosting the SEO ranking of your website. But care should be taken while link back to other sites, don’t link back frequently without any reason because its affect your SEO traffic.because this factor is considered a malpractice in the world of SEO management.If you have a business website the ranking of the site is crucial because it is not easy to get search engines if your site did not get the consistent user through the internet.The website should be relevant to your websites with you are working with so that readers should get a related link to your website and do not feel cheated.

Get Help of expert

There may be a situation when you face difficulties or get confused about how to handle SEO traffic or website ranking. then you can take help of a professional expert.There are so many agencies which help you or provide authentic ways to manage your website and also business promotion works.Nowadays many businesses which help you to find appropriate SEO management agencies according to your need.

Conclusion

It can be concluded that To get the proper kind of practices for your business SEO management services are essential.You can manage lots of things your own by studying or searching the internet but same time kept the thing in mind that practices should be legal.

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Prices Likely to Spike for Common and Uncommon Goods as Geo-Political Tensions Rise

 

In today’s global economy, what happens in one part of the world – sometimes in one specific country – can set off a chain reaction likely to have far-reaching effects for consumers everywhere. When Panama Disease hit and peaked in Central America in the 1950s, for example, it wiped out thousands of acres of banana plantations that caused a worldwide shortage of the fruit, even forcing growers to abandon their favored cultivar and go in search of new types. Today, most of the world eats an entirely different kind of banana – the Cavendish – because of this.

 

Like bananas, global products of all kinds are not immune to the effects of global markets. Recent announcements and economic policies have U.S. markets and consumers poised for a price hike for common steel and aluminum products. From soda cans to new cars, hundreds of industries are likely to see costs go up. Yet these products are far from the only ones being impacted by global geo-political tensions and sharp changes in demand and consumer preferences.

 

Food

Global food prices are hitting new highs as demand for meat, dairy, and wheat from countries with expanding populations continues to surge. U.N. food agency data shows global food prices are up 7 percent from a year ago and ahead 17 percent from a low set in early 2016. According to analysts, there has been a growing global demand for meat, particularly for beef. So strong is this demand that global meat has outpaced most other major food commodity groups, according to U.N. data.

 

Common Household Goods

Yes, even toilet paper is not immune to drastic price hikes and consumer panic. Just this week, a spike in the price to produce toilet paper in Taiwan cause panic to a point where lines formed outside of local grocery stores as people snapped up toilet paper and paper towels in bulk. The mess began on February 23rd when, according to The Economist, Taiwanese retailers, including several supermarket chains, said that toilet-paper producers would increase prices by as much as 30 percent in March because the cost of raw pulp had gone up.

 

Pearls

Political uncertainty in the South China sea has forced the price of pearls upward, much to the dismay of traditional brick-and-mortar and online retailers throughout the U.S. Leon Rbibo, who runs two of the top pearl websites in the U.S., The Pearl Source and Laguna Pearl, says military escalations in this part of the world can drive costs up “literally overnight,” since a large portion of the world’s favorite gemstone is imported from this area. Add to that the implications of Brexit, which is destabilizing world currencies, and you have a recipe for higher costs.

 

Gas and Other Fuel Types

There was a brief respite from the pump for many U.S. consumers over the last year, but don’t bank on that trend continuing, analysts say. According to AAA and the transportation industry, more than half of the country is likely to see a significant spike in the average cost for a gallon of unleaded gasoline. According to AAA, there are numerous reasons for the hike:

 

This year “has seen fluctuating crude oil prices, strong gasoline demand and new U.S. oil production records creating a volatile gas price market from month to month for consumers,” Jeanette Casselano, AAA spokeswoman, said. “Typically, March brings more expensive pricing as days get longer, weather gets warmer and refinery’s gear up to switchover to pricier summer blends.”

 

Bourbon (and Other U.S.-Produced Spirits)

New U.S. tariffs have other countries considering raising duties of their own. The European Union could choose to retaliate by going after peanut butter, orange juice, cranberries, and yes, even that world-famous Kentucky bourbon.

 

The European Union is the first trade partner to offer specific steps and products if the U.S. is to proceed with certain proposed tariffs, including on steel. Canada has also promised countermeasures. And Mexico, China and Brazil are said to be weighing options.

 

 

 

 

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Dropbox IPO Just Got $2 More Expensive Per Share

The Dropbox IPO is one of the most talked about offerings that has happened this year thus far, and for good reason. Dropbox is a massive company with a blue chip valuation. Well, that valuation just got a whole lot bigger as the Dropbox IPO just got quite a bit more expensive. Today, we’ll talk about the news, why the increase is actually a pretty good sign for Dropbox, and what you should be watching for ahead.

Dropbox Increases IPO Price

As mentioned above, the latest news that we’ve gotten with regard to the IPO of Dropbox has to do with the price. In recent news stories, we’re seeing news that Dropbox has made the decision to increase the price of its IPO.

Previously, Dropbox announced that it has decided upon a price for its IPO. At the time, the company set the initial IPO price range to be between $16 and $18 per share. This gave the company the expectation of raising approximately $648 million through the offering.

However, on Wednesday, the company announced that it has decided to increase the IPO price. Now, if you want to get in on the IPO, you’re going to apy somewhere between $18 and $20 per Dropbox share. As a result of the increased price per share, the company is now expecting to raise approximately $720 million, just under 10% of the total valuation of the company at $7.8 billion.

Why The Increase In The IPO Price Is Good News For Dropbox

While at first glance, this may not seem like such good news, it’s great news for Dropbox and a very positive sign for the IPO. There are multiple reasons for this:

  • Larger Amount Of Funds Raised – First and foremost, let’s not forget the reason for an IPO in the first place. In general, companies go public in an attempt to raise funds, and a whole lot of them. Even if the IPO price was to stay at the lower initial number, Dropbox would have raised an incredible amount of money. However, with $2 more per share in mind, the company is likely to raise an additional 72 million.
  • Shows Strong Demand – At the end of the day, if Dropbox wasn’t confident that the demand would be strong for its IPO, it wouldn’t go raising prices. After releasing the initial price of between $16 and $18 per share, the company has made the decision to increase the price after just about a week. This suggests that Dropbox has crunched the numbers based on reactions to the initial pricing, deciding that the demand was there for an increase. That’s great news.

What To Watch For Ahead

Moving forward, Dropbox is likely to present several potentially profitable opportunities. After all, it is one of the most talked about IPOs in some time. Adding in the fact that demand is already high enough to warrant a price increase on the shares, makes this an even more exciting even.

With that said, if you’re looking to get involved in the Dropbox IPO, there are a few things you should be watching for. First and foremost, pay attention to the news surrounding the price increase. Soon enough, we should see stories with regard to demand that tell us whether or not this was the right move relatively soon. Also, do some due diligence with regard to the valuation of the company. Is a $7.8 billion valuation really worth it when the company hasn’t produced a penny in profit??? While I can think of several examples where historically, the answer has been yes, that doesn’t mean that that’s the case here. So, before getting involved, make sure to do your research and understand just what you are purchasing when you buy shares.

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How Can You Become An Instagram Star By Getting Lots Of Free Instagram Likes 3 Ways

 

Instagram is a mobile app that allows people to follow you and lets you follow other people to see what they have been up to. It also allows people to like and comment on posts. Depending on the number of likes and posts that you get, you can get quite popular on Instagram.

Being popular on Instagram has its advantages. That is why some people want to be famous on Instagram. For instance, you can use your account to make money. If you want to become famous on Instagram, here are some things that you can do.

1.      Set your account up for success

Come up with a catchy name for your account. This should be a name that is easy to remember. It should also be a reflection of your personality.

You should also have a high-quality profile picture. A lot of people will not want to follow an account with no picture. A poor quality picture will also put people off.

Write an interesting bio which will draw more people to you and make them want to follow you.

Your account should be public and not private. This will allow more people to follow you freely without first having to request you for permission.

Choose a theme for your account. People who are interested in your theme will follow you.It helps if you can get into a niche market and post photos that people cannot easily find anywhere else.This will ensure that the people who follow your posts stick around.

2.      Develop community

 

Keep your account active by regularly following other people, commenting on their photos and replying to comments on your posts. This will increase chances of you getting a lot of free Instagram likeswhenever you post.

 

Keeping your followers engaged will help you to build a relationship with them. Also, posting on aregularbasis will help people to remember who you are. If you don’t post often, people will forget you.

3.      Tell an interesting story with your photos

Tell an ongoing story with your photos. Leave your followers wondering what will happen next. This will get them coming back for more and more.

Post photos that your followers like to see. You can get a clue to this by observing which one of your posts gets the most likesand then post more photos like it.

Post quality photos on your feed. Practice how to take good quality pictures since people mainly want to see good photos. Add interesting and relevant captions to these posts.

Avoid posting text images and screenshots since most people don’t find them interesting.

Conclusion

It takes a lot of hard work and dedication to build up followers on Instagram, so when you get started, brace yourself for the action and be patient and you will start seeing results. You’ll have a lot more fun with your account if you have a lot of followers than if you have only a few followers.

 

Bio

Andrew is a freelance content writer. He has written many good and informative articles on different categories such as technology, health, fashion, beauty, education, career, travel etc. He is very responsible towards his job. He loves to share his knowledge and experience with his friends and colleagues.

March 18, 2018 at 6:47am
A TRIO OF MUST-HAVE GADGETS FOR INVESTORS Whether you’re a newbie to the world of investing or have been dabbling in the stock market for some time, you likely find yourself checking your portfolio at least once a day; after all, you want to find out if your making money, #stocks, https://t.co/anQ6rFVEiG


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Predictive Heatmap and How It Influences the Work of Graphic Designers

Graphics and Visual Heat Mapping for Finance

Well! Graphics Designing has always been a creative and imaginative job. It might have many aspects, but the only goal of a designer is to provide such designs that tempt the user to indulge in it. Throughout much of the designing history, graphic designers have relied merely on experience, gut feeling and real human visual to decide which part of their design requires more attention and which one requires less. Until very recently, the case had been more or less the same when companies like Attention Wizard and Israeli Feng- GUI (GUI stands for Graphic User Interface) introduced an algorithm that calculates which part of the design is more relevant (where eyes provide higher attention) and which one is less, thus decreasing load from the graphic designers in imagining the parts to put emphasis on their design.

The algorithm is primarily helpful in analyzing the first impression of a design from the user/ viewer. This is probably the most promising innovation in the design world. The advent of this technology is yet another milestone in a way to AI (Artificial intelligence) and Machine Learning technology.

What is heatmap exactly?

WIKIPEDIA DEFINES A HEATMAP as a graphical representation of data where the individual values contained in a matrix are represented as colors. Color coding is then used to conclude; e.g., red indicates high temperature and blue indicates low. A similar method is used by Feng-GUI, where colors meant to represent high temperature indicate high eye attention and vice versa. Feng- GUI uses an algorithm to simulate real user.

Aspects of predictive heat mapping technology

Attention heatmap-This is a mixture of primarily two elements, the first one is eye gazing. In this, the sequence of fast and unconscious eye movements (known as saccades) is simulated which happens as the eye scans through the graphic design. The second one is predictive heatmapping. The received information is then mapped with different colors in the same fashion as heat maps. In this, more attention is considered more heat and vice versa.

Factors Considered– THE ALGORITHM OF FENG-GUI is based on periodic themes which are tracked by eye tracking devices. The significant factors considered in the procedure are color (color of the text, background, or even the slabs), orientation and curve, size and weight, density and contrast, intensity, intersection and curve, length and width, and closure.

User interfaceThese companies provide a nice interface which is easy to use. What a person has to do is to upload the graphic design, web page, advertisement, or anything that is to be examined for the heat map. The algorithm is already provided with some eye gazing results to get data about fields where an average eye focuses on. Once uploaded, the algorithm analyses different aspects of the design as mentioned in the factors considered segment and measures it to the already provided data. After the proper amalgamation of both the data, it produces a result that shows which part would be viewed with more attention and vice versa by drawing heat maps.

The inference is drawing from the result-There can be some inferences that can be drawn from the results, but in a basic sense there are only two significant conclusions. In the first case, when a scattered heatmap and busy eye gaze path is produced, it implies that the graphic design fails to prioritize the sections according to the importance and might leads to confusion which further makes the path to the failure of the design. Contrary to that, relatively simpler eye gaze paths along with a few clear hotspots particularly centered on the desired areas imply that the graphic design will be highly efficient.

Potential of the technology and market

According to Mr.Jacob Nielsen, as the technology develops and cost of eye tracking devices come down, the technology might be a new revolution. There are several factors to be analyzed to realize its real potential.

Cost – At present, new eye-tracking device costs somewhere around $40,000 to $60,000 and rental prices can go up to $3,000 per day.

Efficiency – On another note, the dependability (accuracy) of such devices at present are from 60%-70% which is set to increase in future.

Amalgamation with other sectors of technology– The technology has potential to be introduced to artificial intelligence sector by which we might be able to get designs made by computers itself.

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You can read our other blogs on the web and graphic designing which were written by expert bloggers!

March 18, 2018 at 6:47am
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