With the recent licensing issues and how Automattic has been reacting to this leaving a bad taste in my mouth, I have decided to move on from WordPress and try out a new blogging content management system (CMS).

Tried a few, and finally giving Textpattern a whirl. Have to figure out a markdown-esque script called Textile, but other than that, this should work.

Voting day in Mumbai is always a heated affair.

By late afternoon, the voting turnout has been pretty low. In fact, it was lesser than 30% at 1pm. This benchmark is a pretty poor number for one of the most populated cities in this country, if not the world.

Why, then this low figure? There could be multiple reasons for this which most readers will rattle off!

High temperatures

With temperatures touching the high 30s and humidity in the high 90s, the sweltering heat feels like a suffocating blanket on everything. If you have been outside these days without the safety of the office AC, you will feel the continuous sapping of energy and always feel dehydrated at the end of every excursion outside the cool interiors.

Working offices

Section 135B exists, but only in principle. Most offices in Mumbai and other metropolitan cities have been working throughout the day, with a half-day being given to employees.

The problem with this specific clause is that for those employees who actually want to vote the leave is not really needed, and for those who do not want to vote, the leave is just an additional leave. Hence most companies are choosing to interpret it as such – you apply for a leave, and it shall be granted, however coming to office and pushing off early won’t be considered as a half day.

Long weekend

With elections in Mumbai being planned on Monday and the paid holiday for employees pretty much guarantees everyone a three-day long weekend to plan their trips.

Having to come back from their weekend trips to stand in long queues in this heat is something that a lot of people may not look forward to.

Having said that, why citizenship in the title?

Voting should be an act of citizenship

The reason is simple. I believe that by choosing to actively participate in the election of the world’s largest democracy, all of us are making the choice of being a citizen.

Being a citizen doesn’t necessarily mean simply standing in a queue and casting your vote in a ballot box. It means, actively working towards the organizational goals of the country.

Sadly, this is a trait that hasn’t been inculcated in a lot of people. Folks simply do not know what citizenship is or what does it mean to be a citizen.

I am providing a video of what I think acting like a citizen entails. It doesn’t stop at voting, it has a much more engaged definition.

As the markets went in their roller coaster, and eventually normalcy returned, I cannot help but think that even though the elections went by pretty smoothly – our citizens haven’t really changed.

As we strive to build innovative features in our credit platforms and deliver exceptional value, fostering a healthy culture becomes paramount in the engineering team. A strong engineering culture not only attracts top talent but also drives productivity, collaboration, and long-term success. I wanted to put down my thoughts on this … read on.

What is Engineering Culture?

An engineering culture encompasses the shared values, norms, and practices that define how engineers work together to achieve common goals. It’s the DNA of your technology team, influencing everything from code quality to communication patterns. Here are some essential features of a robust engineering culture:

• Collaboration and Communication: Encouraging open communication and cross-functional collaboration. Foster an environment where engineers can freely exchange ideas, seek feedback, and learn from one another.
• Continuous Learning and Professional Development: Invest in learning opportunities for your engineers. Provide access to conferences, workshops, online courses, and mentorship programs.
• Agile Development Practices: Adopt agile methodologies (e.g., Scrum, Kanban) to promote iterative development, shorter release cycles, and adaptive planning. Regularly review and adapt your processes based on feedback and performance metrics.
• Code Reviews: Make code reviews a standard practice. They improve code quality, knowledge sharing, and alignment with coding standards. Encourage constructive feedback and ensure that reviews are respectful and focused on improvement.
• Engineering Excellence: Set high standards for technical excellence. Encourage engineers to write clean, maintainable code and follow best practices. Invest in tools and practices that enhance code quality, such as static analysis, automated testing, and continuous integration.
• Innovation and Experimentation: Create space for innovation. Allow engineers to explore new ideas, experiment with technologies, and propose improvements. Celebrate successful experiments and learn from failures.
• Diversity and Inclusion: Build a diverse engineering team that brings different perspectives and experiences. Embrace diversity in gender, ethnicity, background, and thought. Foster an inclusive environment where everyone feels valued and respected.

As a marketer, you probably use various metrics to measure and evaluate your marketing performance and success. Metrics such as website traffic, social media followers, email subscribers, and video views can help you understand how your marketing efforts are reaching and engaging your target audience. However, not all metrics are equally useful and meaningful.

What are vanity metrics?

Some metrics may look impressive and flattering, but they may not actually reflect the true value and impact of your marketing activities or that of your business. These metrics are known as vanity metrics.

Vanity metrics are metrics that make you look good to others, but do not help you understand your own performance in a way that informs future strategies. These metrics are often easy to measure and manipulate, but they do not indicate any real return on investment (ROI) or customer behavior. Examples of vanity metrics include:

• Website traffic: The number of visitors or sessions on your website may seem like an important indicator of your website’s popularity and reach, but it does not tell you anything about the quality and relevance of your traffic, or how your traffic converts into leads or customers.
• Social media followers: The number of followers or fans on your social media accounts may seem like a measure of your social media influence and authority, but it does not tell you anything about the engagement and loyalty of your followers, or how your followers interact with your brand or products. * Email subscribers: The number of subscribers on your email list may seem like a measure of your email marketing potential and growth, but it does not tell you anything about the deliverability and open rate of your emails, or how your subscribers respond to your email campaigns. * Video views: The number of views on your videos may seem like a measure of your video marketing reach and impact, but it does not tell you anything about the retention and completion rate of your videos, or how your viewers take action after watching your videos.

Why you should avoid vanity metrics

Vanity metrics may be tempting and satisfying to track and report, but they can be misleading and harmful for your marketing strategy and goals. Here are some reasons why you should avoid vanity metrics:

• They do not help you make data-driven decisions: Vanity metrics do not provide any actionable insights or feedback that can help you improve your marketing performance and outcomes. They do not tell you what works and what does not work, what to do more of and what to do less of, or what to change and what to keep. They do not help you optimize your marketing tactics and channels, or allocate your marketing resources and budget effectively.
• They do not help you align with your business objectives: Vanity metrics do not align with your business objectives, such as increasing sales, revenue, or profit. They do not show you how your marketing activities contribute to your bottom line, or how they generate value for your business and your customers. They do not help you demonstrate your marketing ROI, or justify your marketing spend and efforts.
• They do not help you build trust and credibility: Vanity metrics do not build trust and credibility with your stakeholders, such as your management, your team, your partners, or your customers. They do not reflect the true quality and impact of your marketing work, or the real needs and preferences of your target audience. They may even damage your reputation and credibility, if your stakeholders discover that your metrics are inflated, manipulated, or irrelevant.
• They can be open to subjective interpretations: Vanity metrics can be interpreted in a variety of methods, thus creating confusion instead of giving a clear direction towards efforts.

How to avoid vanity metrics

To avoid vanity metrics, you need to focus on metrics that are relevant, meaningful, and actionable for your marketing strategy and goals. These metrics are often called actionable metrics, as they help you take action and make decisions that improve your marketing performance and success. Here are some tips on how to avoid vanity metrics and use actionable metrics instead:

• Define your marketing goals and objectives: Before you start measuring and evaluating your marketing performance, you need to define your marketing goals and objectives, and align them with your business goals and objectives. Your marketing goals and objectives should be SMART: specific, measurable, achievable, relevant, and time-bound. For example, instead of having a vague goal of increasing website traffic, you can have a SMART goal of increasing website traffic by 10% in the next quarter, by targeting a specific segment of your audience, using a specific channel or tactic, and measuring a specific metric or outcome. * Choose your key performance indicators (KPIs): Based on your marketing goals and objectives, you need to choose your key performance indicators (KPIs), which are the metrics that indicate whether you are achieving your goals and objectives, or not. Your KPIs should be relevant, meaningful, and actionable for your marketing strategy and goals. For example, instead of using website traffic as a KPI, you can use website conversion rate, which measures the percentage of your website visitors who take a desired action, such as signing up for a newsletter, downloading a white paper, or making a purchase. * Track and analyze your data: Once you have chosen your KPIs, you need to track and analyze your data, using various tools and methods, such as Google Analytics, dashboards, reports, and experiments. You need to track and analyze your data regularly and consistently, to monitor your marketing performance and progress, and to identify any trends, patterns, or anomalies. You also need to track and analyze your data in context, by comparing it with your benchmarks, targets, or competitors, and by segmenting it by various dimensions, such as source, channel, device, or audience. * Take action and improve: Based on your data analysis, you need to take action and improve your marketing performance and outcomes. You need to use your data to make data-driven decisions, such as what to do more of and what to do less of, what to change and what to keep, or what to test and what to implement. You also need to use your data to optimize your marketing tactics and channels, and to allocate your marketing resources and budget effectively. You also need to measure and evaluate the impact of your actions and improvements, and to iterate and refine your marketing strategy and goals accordingly.

Conclusion

Vanity metrics are metrics that make you look good to others, but do not help you understand your own performance in a way that informs future strategies. They are often easy to measure and manipulate, but they do not indicate any real return on investment or customer behavior. Examples of vanity metrics include website traffic, social media followers, email subscribers, and video views.

To avoid vanity metrics, you need to focus on metrics that are relevant, meaningful, and actionable for your marketing strategy and goals. These metrics are often called actionable metrics, as they help you take action and make decisions that improve your marketing performance and success. To avoid vanity metrics and use actionable metrics instead, you need to define your marketing goals and objectives, choose your key performance indicators, track and analyze your data, and take action and improve.

By avoiding vanity metrics and using actionable metrics, you can improve your marketing performance and outcomes, align with your business objectives, and build trust and credibility with your stakeholders.

The Indian lending market is one of the fastest-growing and most diverse in the world, with a huge potential for financial inclusion and social impact. According to a report by Boston Consulting Group, the Indian lending market is expected to grow from $1.2 trillion in 2019 to $3.5 trillion by 2024, driven by the increasing demand for credit from individuals, small businesses, and rural segments.

Problems in the lending industry

However, the Indian lending market also faces several challenges, such as high operational costs, low credit penetration, complex regulatory environment, and high credit risk. Traditional lending models rely on manual processes, limited data sources, and rigid criteria, which result in inefficiencies, delays, and exclusions. Moreover, the COVID-19 pandemic has exacerbated the situation, as lenders face increased defaults, liquidity crunch, and changing customer behavior.

To overcome these challenges and tap into the opportunities, lenders need to adopt innovative and agile solutions that can enhance their efficiency, scalability, and profitability. This is where generative AI, a branch of artificial intelligence that can create novel and realistic content, such as text, images, audio, and video, comes into play.
What can generative AI do?

Generative AI can transform the Indian lending landscape by enabling lenders to

• Automate and optimize the lending process: Generative AI can automate and optimize various steps of the lending process, such as customer acquisition, verification, underwriting, disbursal, and recovery. For example, generative AI can create personalized and engaging marketing campaigns, analyze alternative and unconventional data sources, such as social media, e-commerce, and geolocation, to assess creditworthiness and risk, generate customized loan offers and contracts, and create interactive and empathetic chatbots and voice assistants to facilitate communication and collection.
• Enhance fraud detection and prevention: Generative AI can enhance fraud detection and prevention by identifying and flagging suspicious patterns and anomalies in the data and transactions. For example, generative AI can detect fake or tampered identity proofs and documents, such as Aadhaar cards, PAN cards, and bank statements, by comparing them with the original or authentic versions. Generative AI can also detect fraudulent or malicious behavior, such as identity theft, money laundering, and cyberattacks, by analyzing the behavioral and transactional data of the customers and the lenders. * Innovate and diversify the lending products and services: Generative AI can innovate and diversify the lending products and services by creating new and tailored solutions that cater to the specific needs and preferences of the customers. For example, generative AI can create dynamic and flexible loan products that adjust to the changing circumstances and requirements of the customers, such as income fluctuations, emergencies, and life events. Generative AI can also create new and niche lending segments and markets, such as peer-to-peer lending, microfinance, and social impact lending, by leveraging the power of the crowd and the network.

Challenges in using generative AI

Generative AI is a new frontier for the Indian lending industry, as it offers immense possibilities and benefits for both the lenders and the customers. However, generative AI also poses some challenges and risks, such as ethical, legal, and social implications, data quality and security issues, and human-machine interaction and collaboration challenges. Therefore, generative AI needs to be adopted and implemented with caution and responsibility, ensuring that it is aligned with the values and goals of the stakeholders and the society.

I am not even going to talk about the compliance risk and the risk of using a pre-cooked model which may not even be similar to the target audience.

Generative AI is not a magic bullet that can solve all the problems of the Indian lending industry, but it is a powerful and promising tool that can augment and enhance the existing capabilities and solutions. Generative AI can help the Indian lenders to become more efficient, scalable, and profitable, while also serving the customers better and faster.

However, smart and crisp solutions are yet to be seen in the Indian market, and this is an area of work for us at Homeville.