Newsletter No. 79
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Free Pint
"Helping 34,000 people use the Web for their work"
http://www.freepint.co.uk/
ISSN 1460-7239 18th January 2001 No.79
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IN THIS ISSUE
EDITORIAL
MY FAVOURITE TIPPLES
from James Hatts
FREE PINT BAR
In Association with Factiva
a Dow Jones & Reuters Company
Reviewed by Simon Collery
TIPS AND TECHNIQUES
"Internet Resources for the Voluntary Sector"
by Allan Pearson
BOOKSHELF
"Organizing Knowledge: an introduction to
managing access to information"
Reviewed by Paul Pedley
FEATURE ARTICLE
"Online Business News: A Tale of Boom and Bust?"
by Tim Houghton
EVENTS, GOLD AND FORTHCOMING ARTICLES
CONTACT INFORMATION
ONLINE VERSION WITH ACTIVATED HYPERLINKS
http://www.freepint.co.uk/issues/180101.htm
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******HAVE YOU HEARD THE NEWS?******
NewsEdge is a leading provider of business-oriented eContent for
websites and corporate intranets. We provide the highest quality,
most cost effective and flexible solutions for serving the
information needs of thousands of corporate and Internet online
communities. To find out more about how to make your website
stickier and your employees smarter, visit www.newsedge.com
or, call us now on +44 (0) 20 7448 4400
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>>> ABOUT FREE PINT <<<
Free Pint is a community of business professionals who use the Web for
their research. Members receive this free newsletter every two weeks
packed with tips on finding quality and reliable business information
on the Internet. Signing up at <http://www.freepint.co.uk/> provides
free access to the substantial archive of articles, book reviews,
industry news and events, with answers to your research questions and
networking at the "Free Pint Bar" and "Student Bar". This newsletter
is best read when printed out and viewed in a Courier font.
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EDITORIAL
The Free Pint Bar is a fun place to be. I am regularly staggered by
the lengths Free Pinters will go to when helping others with their
tricky research questions.
Like any good Bar we welcome a broad spectrum of visitors. Most
members enter into the spirit of things, but there are those who voice
their objections about what's happening to their favourite haunt as
the owners try to find different ways to please their regulars and
earn enough money to make the venture commercially viable.
It therefore upset the barrel recently when we were accused of
surreptitiously commercialising Free Pint and thus compromising our
independence. Simon has become our nominated spokesperson on this
topic and has presented our response to the accusations most
eloquently below in his regular Bar Summary.
I would therefore urge you to join this debate and give us your
feedback on whether you believe we are acting appropriately in trying
to secure a financially viable future for Free Pint.
On this theme, we continue to enhance our commercial offerings. It is
now possible to pay for reports from our gateway to UK company
information by invoice instead of just by credit card. You can still
search for free and there are no setup or subscription fees, and
being able to pay on account should make the service available to even
more members. Try a search today at <http://www.freepint.co.uk/icc>.
Both articles in today's Free Pint continue the commercial theme, one
looking at resources for the not-for-profit sector, whilst the other
tries to identify commercially viable models for the future of
business news media online.
I hope you enjoy this issue with its regular mix of reviews and
tips. I'd like to thank all those who have been spreading the word about
Free Pint, and of course the advertisers in this issue who include
NewsEdge, Factiva and Learned Information. Let's raise a glass to a
financially viable future for Free Pint.
Cheers
William
William Hann BSc MIInfSc
Founder and Managing Editor, Free Pint
e: william@freepint.co.uk
t: +44 (0)1784 455435
f: +44 (0)1784 455436
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Get up-to-date news, reviews, career moves and profiles, PLUS free
access to the online archive, by subscribing to Information World
Review - the information industry's leading monthly news magazine.
http://www.iwr.co.uk
Information World Review - addressing the agenda of information
professionals and providing guidance to those working in an
information-based career.
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>>> UK COMPANY INFORMATION PURCHASES CAN NOW BE INVOICED <<<
Search for any UK company and view basic details for free.
Purchase detailed information by credit card or invoice.
No setup fees or monthly subscription. Try it today at:
http://www.freepint.co.uk/icc/
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MY FAVOURITE TIPPLES
from James Hatts
* Ananova - I use this service whenever I need to research something
that's been in the news. <http://www.ananova.com/>
* Master.com provides an excellent search facility for Web sites.
<http://www.master.com/>
* FlatText - I recently discovered this tool which makes it easy to
build simple database applications on the web with CGI. A SQL
version is coming soon. <http://www.flattext.com/>
* MediaGuardian - I visit this site nearly every day for the latest
media news and gossip. <http://www.mediaguardian.co.uk/>
* Dogpile - I used to be a Google devotee, but the newly redesigned
Dogpile is a great meta-search engine. <http://www.dogpile.com/>
James Hatts is Website Manager at Politico's
<http://www.politicos.co.uk/>, Britain's leading political bookseller
and publisher. He also manages the London SE1 community Web site
<http://www.london-se1.co.uk/>.
Tell us about your top five favourite Web sites. See the guidelines at
or email
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**** MYSTERY AND MISCHIEF ON WWW.FACTIVA.COM/INFOPRO ****
You can now read the first chapter of our six part serialised
mystery 'Trouble at Risk-eGames' on www.factiva.com/infopro.
In mid May you will be able to enter a competition to guess
the perpetrator of the crime.
Read the first chapter and enter the world of Risk-eGames.com
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>>> HOW CAN YOU REACH 34,000 BUSINESS INFORMATION SEARCHERS? <<<
Free Pint is read around the world by a large community
of business information users and purchasers.
An annual advertising account gives one million exposures in
the newsletter and on the Web site for one low monthly price.
http://www.freepint.co.uk/advert.htm
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FREE PINT BAR
In Association with Factiva
a Dow Jones & Reuters Company
Reviewed by Simon Collery
http://www.freepint.co.uk/issues/180101.htm#bar
Free Pint Bar - http://www.freepint.co.uk/bar
[Note: To read a posting enter the message number in place of XXXX in
the address <http://www.freepint.co.uk/bar/read.php?i=XXXX> or enter
the number in the "Jump To" box on the Bar homepage]
Free Pint has been accused of 'commercialisation' (6666). If that
means that we aim to make money then we are guilty. We produce good
quality, original content for our subscribers and anyone else who is
interested, free of charge. But we need to make enough money to cover
costs and we must make a profit in order to expand the range of
services we provide. That's why we place advertisements on the site
and newsletter and why we offer to host people's mailing lists. It
also explains why we accept sponsorship. We promote ICC because we
sell their data. We do this openly, not covertly, as implied by our
accuser.
Many things on the Web are free, not just content. There's open
source software too, mentioned in Tuesday's Pub Crawl (6853). But
producers of such software usually make a living as designers or
developers. Libraries that develop library software are usually
publicly funded. In fact, most things that are free on the Web make
money for the producer somehow. If they don't make money they don't
survive. Look at the UK ISPs that have fallen by the wayside because
they couldn't generate enough revenue (6726). Industry publications
are full of dotcom businesses grappling with this problem (6721).
Search engines are free to use, aren't they? The two I reviewed
recently certainly are (6793, 6658). But it costs money to make sure
that your site will be found when people use search engines. Search
engines need to make money. Ok, you can get promotion advice free of
charge by posting a message on the Free Pint Bar, for example (6827,
6608). But that's because people are willing to share something that
they probably spent money or time in acquiring for themselves.
Sites that cost money to run need to make money. That certainly
applies to the following, most of which are commercial. There's the
domain name information site (6698), the ecommerce data site (6772),
the books and reviews site (6831), the out of print books site (6817),
the ISP information site (6650, 6753), the business plan site (6836),
free text messaging services (6639), computer training and advice
(6771, 6759), timeline data (6725), information on the Gulf war
(6765), European legislation (6757) and rail information (6630).
Free Pinters have helped other Free Pinters to find media outlets in
Cuba (6700), salary calculators (6690), management consultants (6746),
cash flow templates (6782), business planning software and information
(6713) and news sources (6649). They have given advice on US dollar
accounts in the UK (6843), Web hosting (6806), leaflet design (6664),
sites on interior design (6850), search engine statistics (6692) and
international cost of living data (6662). Sharing information and
services in this way is a commercial reality. It's also one of the
things that made the Web possible in the first place.
Further questions have been raised about information architecture
training (6846), London and European Web design companies (6790,
6812), email encryption (6783), Web site marketing companies (6854),
help desks (6814), wholesale rice prices (6859), UK company car
figures (6824) and writing procedure manuals (6823), if anyone can
help with these matters. You won't get paid in cash, but maybe you
have a question that you want answered?
Software recommended includes PC fax software (6794), email software
(6837) and call notification software (6760). Still to be answered
are queries about personal budget software (6641), printing the
Outlook Express address book (6669), a way of sending videos by email
(6808) and the minimum computing requirements for a library (6857).
Any help with these would be much appreciated.
Questions have been answered about dial-up networking (6646), Web
hosting and copyright (6789), clearing the browser address bar (6801),
virus problems (6832), converting PC produced graphics so they are the
same on Macs (6735) and resources for simulating different browsers
and browser versions (6604).
There have been more miscellaneous questions about working from home
(6724), Nexis Universe (6683), wedding stationery software (6681), a
company that supplies online freelance work (6764), tracing people
(6710) and 1991 technical specifications for a Super Morterplas, a APP
plastomeric bitumen-based waterproofing membrane (6736). That's
something you don't see every day in a Bar.
Finally, our independence has also been questioned (6666, again!).
Well, not only does it make good commercial sense to promote sharing
and to make some content available free of charge on the Web. It also
means that this content can be examined and compared with other
content, peer reviewed, effectively. Free Pint is a community of
professionals who can, and do, add to and make comments on what is
written in the newsletter and posted on the Bar. Everything we say is
open to inspection and you always have the right to reply or comment.
Free Pint Student Bar - http://www.freepint.co.uk/student
[Note: To read a posting enter the message number in place of XXXX in
the address <http://www.freepint.co.uk/student/read.php?i=XXXX>]
The Student Bar continues to emerge slowly after the New Year excesses
to questions about enterprise information portals (1109), university
rankings for masters degrees in architecture (1112) and the
forthcoming AUKML open day (1108).
Simon Collery, Content Developer <simon@freepint.co.uk>
If you have a tricky research question or can help other Free Pinters
then do post a message at the Bar <http://www.freepint.co.uk/bar> or
the Student Bar <http://www.freepint.co.uk/student>.
Visit daily for "Today's Tipple" - a different Web site reviewed every
working day at the Bar. Every Tuesday there is the "Pub Crawl", a look
at full text articles from a range of information and Internet
publications. Access the archive of Tipples and Pub Crawls at
<http://www.freepint.co.uk/portal/content/tipple.php3>.
To have the latest Free Pint Bar postings sent to you every other day,
send a blank email to <digest@freepint.co.uk>. For the Student Bar
Digest send an email to <studentdigest@freepint.co.uk>.
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Sue Hill Recruitment - jobs every day - good candidates needed!
We need flexible, adaptable, individuals with a recognised library /
information qualification or relevant experience. Particularly those
wanting temporary assignments. Our clients are mostly in London or
based in other UK cities and want the best and trust us to provide it.
Tel: 020 7378 7068 jobs@suehill.com http://www.suehill.com
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>>> DO YOU PUBLISH AN EMAIL NEWSLETTER? <<<
Free Pint is one of the most experienced email publishers in the
business, so trust them to manage your subscriptions and handle
distribution of your publication. Find out about the benefits at:
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TIPS AND TECHNIQUES
http://www.freepint.co.uk/issues/180101.htm#tips
"Internet Resources for the Voluntary Sector"
by Allan Pearson
Any article covering the voluntary sector quickly comes across
problems posed by the sheer size and breadth of the sector and the
fact that many Internet resources are not suitable for the UK. So,
rather than try the impossible, this article will look at resources
which meet the needs of smaller voluntary groups within the UK,
although in a few cases details will be specific to England.
An obvious starting point for advice or information is the local
Council for Voluntary Service or its equivalent. Details of local
CVSs can be found at <http://www.nacvs.org.uk>. Unfortunately not all
CVSs have websites and the information they provide is mixed. Another
source for embryo groups includes <http://www.citizensconnection.net>.
There is also some useful guidance at <http://www.sbbc.co.uk> although
most of their coverage is aimed at environmental groups. Details of
constitutions and legal structures can be found at
and this also has some material on
employment issues.
Advice on financial procedures, which is particularly important for
charities, can be found on a number of sites. There are useful
information sheets on <http://www.cash-online.org.uk> and the South
Yorkshire Funding Advice Bureau site at <http://www.syfab.org.uk>.
The Charity Commission site has a wealth of information
<http://www.charity-commission.gov.uk> besides containing the register
of charities. Finally, <http://www.charitynet.org> and
<http://www.allaboutgiving.org> may be useful.
Fundraising is covered by a number of sites of which the most useful
are perhaps <http://www.fundraising.co.uk> - which includes an
impressive amount of information, but unfortunately some of the links
are broken - and the Association of Charitable Foundations site,
<http://www.acf.org.uk/index.htm>. Lottery money is covered by
<http://www.nlcb.org.uk>, <http://www.nof.org.uk> and
<http://www.awardsforall.org.uk>. Details of who has been awarded
lottery money is covered by <http://www.lottery.culture.gov.uk>.
<http://www.fundinginformation.org> may have some useful information,
however, this is a subscription site although trial access is allowed.
The Directory of Social Change produces a large number of books on
fundraising and their site may be worth visiting See
<http://www.dsc.org.uk> for details of their catalogue.
Volunteering is covered at the Timebank site
<http://www.bbc.co.uk/education/timebank/index.shtml> as well as by the
NAVB - <http://wavespace.waverider.co.uk/~navbteam> while specific
volunteering opportunities can be found at
<http://www.thesite.org/do-it>. The National Centre for Volunteering
has a range of information sheets promoting good practice -
<http://www.volunteering.org.uk> and the International Year of
Volunteering has its own website at <http://www.iyv2001.org>.
Businesses wanting to promote volunteering among their staff will find
resources for them at <http://www.bitc.org.uk> and
while businesses that would consider
themselves to be social entrepreneurs may find
<http://www.can-online.org.uk> worth a look.
A number of sites deal with policies relating to the recruitment of
paid staff including the DTI <http://www.dti.gov.uk/er/index.htm> and
ACAS sites <http://www.acas.org.uk>. Equal opportunities are covered
by the Commission for Racial Equality <http://www.cre.gov.uk>, the
Equal Opportunities Commission <http://www.eoc.org.uk> and the
National Disabilities Council <http://www.disability-council.gov.uk>.
Sites dealing with vacancies in charities tend to be very mixed in
their coverage. One of the most comprehensive is the oneworld site
<http://www.oneworld.org>, but some vacancies are also covered by
<http://www.cafonline.org/jobs>, <http://www.charityjob.co.uk>,
<http://www.charitypeople.co.uk> and
<http://www.lwts.org.uk/car/Index.htm>. NFP Jobs
<http://www.conferencehouse.co.uk/nfpjobs/index.htm> also offers an
email newsletter.
Useful sites for training include the Association for Consultants and
Trainers <http://www.act-assn.dircon.co.uk>, Sharing Credit
<http://www.derby.ac.uk/scp/contents.html> and the Training Zone
<http://www.trainingzone.co.uk>.
Finding details of a voluntary group can be much harder than would be
supposed. Besides the Charity Commission with around 180,000 groups,
the National Council for Voluntary Organisations (NCVO) have details
of over 600 groups that are online at <http://www.ncvo-vol.org.uk> in
addition to a lot of information on the voluntary sector in general.
BUBL also maintain a large list at <http://bubl.ac.uk/uk/charities>.
Details can also be found locally in a number of places such as Leeds
and Birmingham <http://www.bvsc.org>,
however, the Leeds site is by subscription due to Data Protection
issues.
Data Protection is covered by the Data Protection Commission
<http://www.dataprotection.gov.uk> while assistance on IT matters can
also be found at the London Advice Services Alliance (LASA) site
<http://www.lasa.org.uk>. LASA also produce a newsletter and other IT
newsletters can be found at <http://www.coopsys.co.uk/downloads.htm>
and <http://www.conferencehouse.co.uk/nfptechno/index.htm>.
In a similar vein, email discussion lists are offered by NCVO, NACVS
and Fundraising.org.
Besides LASA a number of sites offer advice, examples of which include
DIAL (UK) <http://members.aol.com/dialuk> and the Royal National
Institute for the Deaf <http://www.rnid.org.uk>.
A number of Government sites are worth visiting, including the Health
and Safety Executive <http://www.hse.gov.uk> and details of these can
be obtained from <http://www.open.gov.uk>.
Legal issues are covered by Sandy Adirondack
<http://www.sandy-a.dircon.co.uk/legal.htm>, although it may also be
worth having a look at Delia Venables <http://www.venables.co.uk>
and Freelawyer <http://www.freelawyer.co.uk>, whilst community law
has already been mentioned. A newsletter is also available from
<http://www.speechlybircham.co.uk/newsframe.htm> but the site doesn't
currently contain the most up to date version online.
Quality assurance is currently important in the voluntary sector and
examples include PQASSO <http://www.pqasso.org.uk>, Best Value
<http://www.local-regions.detr.gov.uk/bestvalue>, Investors in People
<http://www.iipuk.co.uk> and the Business Excellence Model
<http://www.efqm.org>.
A number of sources deal with news within the voluntary sector and
Charity Times <http://www.charity-times.co.uk> and the Guardian
<http://www.societyguardian.co.uk/voluntary> are both useful sources.
A number of umbrella bodies have already been covered but the National
Association of Citizens Advice Bureaux (NACAB)
<http://www.nacab.org.uk> and the London Voluntary Sector Council
<http://www.lvsc.org.uk> should be added to these.
Finally, saving one of the best sites to last,
<http://www.volresource.org.uk> is well worth a visit. Navigation isn't
always easy, but the sheer amount of material covered make this worth
investigating.
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Allan Pearson trained as an Information Scientist at Leeds Polytechnic
and is the Information Worker at Voluntary Action Leeds
<http://www.val.org.uk>, email <library@val.org.uk>.
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Related Free Pint links:
* Read this article online, with activated hyperlinks
<http://www.freepint.co.uk/issues/180101.htm#tips>
* Post a message to the author now at the Free Pint Bar
<http://www.freepint.co.uk/bar>
* Access the entire archive of Free Pint content
<http://www.freepint.co.uk/portal/content/>
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>>> FREE PINT FACT <<<
It is interesting to look back at the logs of the numbers of visitors
to the Free Pint Web site over the last three years. Compared to one
year ago, we're now welcoming three times as many visitors each month
to the site, and they're looking at three times as many pages each
visit.
Compared to two years ago things are even more rosy. We're welcoming
six times as many people each month now as we were then, and they're
looking at ten times as many pages on average each visit. Rest assured
that our trusty Web and email servers are coping admirably with all
this demand, in fact they haven't had to be restarted once during the
last 165 days.
William Hann, Managing Editor <william@freepint.co.uk>
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FREE PINT BOOKSHELF
http://www.freepint.co.uk/bookshelf
"Organizing Knowledge: an introduction to
managing access to information"
Reviewed by Paul Pedley
The first edition of Organizing Knowledge was published in 1987. Now
in its third edition, the book has been restructured and revised to
apply in a world which now relies so heavily on electronic information
retrieval. This is a substantial book, over 400 pages in length, and
at its heart are the traditional skills of the librarian - 'cat' and
'class' (or 'cataloguing' and 'classification'). It is a standard text
for students of information and library studies. The book provides a
good grounding in cataloguing and classification. It deals with the
concept and principles involved in organising knowledge, rather than
being a straight "how to" guide.
The book consists of 13 chapters which are split into four main parts:
a) Information basics - explores the nature of information and
knowledge
b) Records - this section is about how to describe documents
c) Access - looks at the tools for accessing information resources
and covers indexing and searching, classification, thesauri, and
access points in catalogues
d) Systems - deals with the systems used to retrieve knowledge
including OPACs, the Internet, and online search services.
I volunteered to review the book because I regularly hear people talk
about how the traditional skills of librarians in terms of
classification and the use of thesauri are now in great demand. But
when I hear this, it is usually when people are discussing the use of
taxonomies to manage their intranets. Whilst the index to the book
does contain the word 'thesaurus', it does not contain a listing for
the words 'taxonomy' or 'taxonomies'. [TFPL in their recent report
"Taxonomies for business" ISBN 1870889835 define taxonomies as the
creation of structure and labels to aid location of relevant
information].
The book has undoubtedly undergone a thorough revision, and certainly
covers areas such as metadata standards and Dublin Core, just as much
as more traditional concepts such as authority lists; thesauri; and
classification schemes.
This book certainly provides a good grounding in the issues concerned
with cataloguing and classifying material. But what I would have found
particularly helpful would have been for it to include a number of
case studies from practitioners on how they went about organising
their collections of knowledge. How, for example, have they gone about
managing electronic content on their web site / intranet / extranet?
What problems did they encounter? How did they overcome them?
All in all I think that this book provides a good grounding for
students of information management, and it is important that these
topics are dealt with thoroughly on information and library studies
courses.
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Paul Pedley is Head of Research at the Economist Intelligence Unit.
Paul is a Fellow of the Library Association and current chairperson of
the Industrial and Commercial Libraries Group <http://www.iclg.org.uk>
of the Library Association. He is also a special libraries
representative on the Library Association Copyright Alliance
<http://www.la-hq.org.uk/groups/laca/laca.html>. Paul is the author of
two Aslib Know How Guides - "Copyright for library and information
service professionals" and "Intranets and push technology - creating
an information sharing environment". He also has two books which are
due for publication by Aslib shortly: "Free business and industry
information on the web" (January 2001) and "The invisible web" (June
2001). He can be contacted by email <paulpedley@eiu.com> or on the Web
at <http://www.paulpedley.com>.
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Related Free Pint links:
* "Information and Libraries" resources in the Free Pint Portal
<http://www.freepint.co.uk/portal/industry/industry.php3?category_id=69>
* Find out more about this book online at the Free Pint Bookshelf
<http://www.freepint.co.uk/bookshelf/orgknow.htm>
* Read about other Internet strategy books on the Free Pint Bookshelf
<http://www.freepint.co.uk/bookshelf/strategy.htm>
* Read customer comments and buy this book at Amazon.co.uk
<http://www.amazon.co.uk/exec/obidos/ASIN/0566080478/freepint0c>
or Amazon.com
<http://www.amazon.com/exec/obidos/ASIN/0566080478/freepint00>
* Details: ISBN 0566080478 published by Gower and written by Jennifer
Rowley and John Farrow
* Search for and purchase any book from Amazon via the Bookshelf
<http://www.freepint.co.uk/bookshelf>
To propose an information-related book for review, send details
to <bookshelf@freepint.co.uk>.
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>>> INFORMATION STUDENTS HAVE THEIR OWN HELP FORUM <<<
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FEATURE ARTICLE
http://www.freepint.co.uk/issues/180101.htm#feature
"Online Business News: A Tale of Boom and Bust?"
by Tim Houghton
Introduction
------------
"The Internet shift endangers financial print media", Forrester
Research 1998.
"The Street closes down" Net Imperative, 16 November 2000.
It all looked so bright in 1998. Online news was faster, cheaper to
distribute and the Internet medium was great at providing news-depth.
All ideal for fast moving business stories. So why did technology
title Net Imperative need re-financing to survive and why did
financial news site The Street.co.uk close its servers at the end of
November?
Is business news media like online retail now going bust? And does any
of this matter for Information Professionals?
Unsurprisingly neither "boom" or "bust" is an accurate description of
the state of play. The reality, as ever, is more complex,
contradictory and opaque than that.
The State of Play: Positives
----------------------------
Business news web sites are popular. The most popular news site in the
UK, BBC News, gets over 3 million unique visitors per month. OK so this
isn't all business news but the FT gets over a million and The
Register (an online only technology title) 700,000 plus. Not bad when
the UK has around 15 million regular Net users (e-MORI October 2000).
The web has fostered the growth of distinctive online brands including
Ananova (formerly the Press Association news site) and The Industry
Standard (a technology specialist).
It has also enabled new business models: Moreover.com specialises in
aggregating content and linking users to it from over 1,800 news
sources. iSyndicate.com brokers content from media creators to web
sites that want compelling content.
The web gives smaller companies access to business news content that
used to be just too expensive. For example Reuters newsfeeds can be
accessed free via Yahoo! News or Hoovers.com.
So all is actually rosy in the news media garden? Well no there are
problems.
The State of Play: Negatives
----------------------------
Whilst online readership growth is strong, monetising that interest is
proving more of a challenge. Both the two principal revenue streams,
advertising and subscription, are proving problematic.
Advertising revenue is not expanding as fast as many of the titles
hoped (which is partly why so many online news operations lose money).
The bursting of the TMT (Technology, Media and Telecommunications)
stock market bubble has been a critical factor in causing revenue
projections to be scaled back.
Very few online titles manage to charge subscribers. The451, Wall
Street Journal and The Economist have managed it but the majority have
not. TheStreet.com has given up trying and popular sites like FT.com
and CBS MarketWatch have also eschewed the pay model.
Much of the news agenda is still set by the old fashioned news brands.
The printed FT and the Sunday broadsheets still drive much business
news sentiment and discussion. In many cases the web is just another
delivery mechanism for content that is also being distributed
elsewhere (for example CNN and the BBC). This is a much less
influential role for the web than was envisaged a couple of years
back.
What are the Implications for Information Professionals?
--------------------------------------------------------
The current and future development of online business news clearly has
implications for information professionals. Media content is so often
the start point for topical research and is a key input into any
competitor or market intelligence system.
As the mantra has it, content may be king but the medium can make the
king's words more easily accessible. The fact that much online content
replicates its print media coverage can be seen as a positive not a
negative. It is already digitised; and this of course makes for easier
dissemination. Hands up how many information professionals still have
to circulate photocopied packs of relevant news to staff? (we've
talked to quite a few).
Geography: For those looking to track competitor and market
developments overseas the web reduces the time and cost of accessing
local news content. Overseas news portals like Mainstream.nl in
Holland make country coverage far easier to access than in the past.
Archive Retrieval: The majority of business news sites have well
indexed archives, enabling topics to be tracked back for years if
required.
Context: Sites such as CNN sensibly link their articles to others that
may be of interest. The web's hyperlink structure thus enables a much
faster identification of the relationship between topics and issues.
Interactivity: The ability to discuss a topic with other users.
Sometimes this has had negative impacts, witness the stock "ramping"
that goes on in many investment forums, but at its best it can be a
highly positive tool for extending understanding.
News depth: Online news titles often contain greater depth than can be
found in printed media. For example in the financial sector,
eFinancial news and ii-Q.com provide detailed news for the fund
management industry.
Personalisation/Customisation: First generation attempts at this were
not especially successful. Personalised newspapers haven't really
taken off, however customisation for information professionals
provides a powerful way to reduce information overload. CNN's
personalisation features or the ability to track news about particular
stocks (for example on CBS MarketWatch) helps filter the formidable
coverage volumes these sites generate.
Future
------
So what's the future for online business news if it's neither boom nor
bust? Some of the trends that seem most pertinent to us are:
Broadband content: Established news operators like the BBC and CNN are
starting to pump broadband content down the line. But the more
interesting trend is that the economics of online media creation and
distribution enable new types of multimedia content to be commercially
viable. A pioneer in this field has been Silicon.com; expect many
others to follow.
Mobile news access: We're unconvinced that this will have a big impact
on business news in the next year or two. Mobile devices (including
PDAs) are just too limited by their screen size to function as much
more than "news alert" devices.
Indexing and Sourcing: One of the most exciting areas in new media
generally is not the content itself but developments in how content is
indexed and located. There are 2 key trends:
* XML tagging: XML has been described as the web's answer to card
indexes. It's a meta-data language that helps users find information
about information. The news dialect of this language, NewsML, is
currently being finalised and should make it significantly easier to
locate relevant content right across the web. Other 'tagging'
structures for broadband content are also being developed.
* Unstructured data searching: Other innovations run in the opposite
direction. Instead of sophisticated tagging we may no longer have to
bother with any indexing at all. A company called Autonomy has
achieved a multi billion pound market capitalisation by developing
software that can find meaning in unstructured data. The free version
of its software is called Kenjin (full versions are very far from
free!).
Alliances and Co-opetition: Online business news is seeing some
fascinating tie ups between brands that might once have felt they were
deadly rivals. BreakingViews.com co-operated with The Wall Street
Journal, Handelsblatt and La Tribune to achieve distribution for its
content despite the fact that it could be considered a competitor.
Tough competition online may well lead to the survival of the most
flexible and imaginative.
Conclusion
----------
Online business news seems to have a vibrant future. As in so many
other online sectors the most salient characteristics are change and
fluidity rather than definitive structures. However an increasingly
mature relationship with print and broadcast channels is apparent. The
days of squinting at 8 point type on an overbright monitor seem to be
very far from over!
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Tim Houghton is a founder and director of Parallel54. He is happy to
discuss any issues arising out of the article in the Free Pint Bar.
Parallel54 is an online media monitoring and web research firm.
Clients include advertising agencies, PR agencies, technology firms
and professional services organisations. Parallel54 is based in
Manchester and is supported by The Prince's Trust. For further
information please visit the web site at: .
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