Business Requirements Document (BRD) – BookMatch 1. OBJECTIVES: The primary business objective of Olympus AI is: • To introduce AI-based technology in order to provide personalized book recommendations based on customers’ previous readings and patterns, enhancing their reading journey with perfect tailored matches. • To provide an interactive and engaging platform for book enthusiasts across the globe, thereby cultivating a strong user base/community. • To monetize the application through premium features, partnerships with publishing house, providing special access to newly launched books and advertisement spaces for relevant stakeholders. 2. SCOPE: The initial development phase of the project will focus on: • Creating a strong AI algorithm that can intelligently match books with users based on their past choices, reviews, and ratings. • Building an iOS and Android version of the BookMatch app. • Developing features that allow users to rate and review books, share favorites with friends, and receive personalized book recommendations. • Setting up an initial database of books, complete with metadata for the AI to use in its recommendation algorithms. 3. FUNCTIONAL REQUIREMENTS: The core features of the app will include: • User Accounts: Where users can create personalized profiles to track their reading progress, preferences, and get tailored book recommendations. • Matching Algorithm: AI technology that suggests books based on previous reads, user reviews, ratings, and preferences. • Book Database: A vast catalog of books from various genres, authors, styles, etc. • Ratings & Reviews: Allow users to rate books they’ve read and provide reviews. • Social Sharing: A feature to share one’s favorite books, lists, and reviews with friends or on social media platforms. 4. NON-FUNCTIONAL REQUIREMENTS: • Security: High level of data and cybersecurity to ensure user information is protected. This includes encrypted communication and secure storage of user data. • Performance: Fast and responsive application with high availability, capable of handling large user base & multiple simultaneous user requests without slowing down the app’s functionality. • Scalability: The system should be designed to easily scale and accommodate increasing numbers of users, books, and data points to feed into the AI algorithm. 5. ASSUMPTIONS AND CONSTRAINTS: Assumption: • The users have basic knowledge of using smartphone applications. Constraints: • The development of a complex AI system within a strict timeframe and budget. 6. STAKEHOLDERS: • Olympus AI: The company developing and marketing the app. • App Users: Readers looking for book recommendations. • Book Publishers: Who may be interested in advertising or putting forward their books more frequently. • Investors: Who fund the project and are interested in ROI. • Development Team: Who create, develop, and maintain the application. • Marketing Team: Responsible for the promotion of the app.
Product Roadmap – BookMatch 1. PURPOSE: The strategic purpose of this roadmap is to provide a step-by-step pipeline detailing how Olympus AI intends to develop and optimize BookMatch from a Minimum Viable Product (MVP) to a fully-fledged, scalable, and profitable system. 2. PHASE DETAILS: Phase 1 (MVP): • User Account Setup: Development of integral user account for storing personal data and reading preferences. • Matching Algorithm: Development of an AI-based matching algorithm for personalized book recommendations. • Basic Book Database: A preliminary database of books in various genres. • Basic User Interface: Development of an initial user-friendly interface. • Feedback Mechanism: An essential feature for users to rate and review books. Phase 2 (Feature Expansion): • Enhanced Book Database: Expansion of the book database with partnership from various publishing houses. • Social Sharing: Addition of features for users to share favorite books, lists, and reviews on social media platforms. • Beta Testing: Systematic gathering of user feedback to iterate and improve the app. Phase 3 (Scalability & Optimization): • Advanced AI Algorithm: Improving the AI algorithm to accommodate a broader database and a growing user base. • Security & Performance Enhancements: Optimization for improving data security, app responsiveness and overall performance. • Scalability: Infrastructure upgrades to support expansion and increased traffic load. 3. MILESTONES AND TIMELINES: • MVP development and testing: Q1-Q2 • Phase 2 Feature Expansion: Q3-Q4 • Phase 3 Scalability & Optimization: Q1 of next year 4. DEPENDENCIES: • Partnerships with book publishers and distributors for enriching the book database. • Consistent feedback from users to enhance and optimize app features continuously. 5. REVIEW PROCESS: A quarterly review process will be implemented wherein stakeholder feedback, user suggestions, and tech team insights will be extensively reviewed. This iterative process will help enhance features and rectify any issues that may have arisen, ensuring continuous improvement and progress towards achieving the stated objectives. The roadmap will be updated and reviewed accordingly based on the actual progress.
Marketing Plan – BookMatch 1. MARKET ANALYSIS: The online book marketplace is a growing segment with a significant portion of users gravitating towards digital reading. The demand for personalized reading recommendations is high, enhanced by emerging AI technologies. Key competitors include Goodreads, BookBub, and Amazon’s personalized recommendations system. The BookMatch app, with its unique artificial intelligence technology, will stand out by providing more personalized and precise recommendations. 2. TARGET AUDIENCE: Our primary user personas include: • Book Enthusiasts: Individuals who are passionate about reading and are always in search of new books. • Casual Readers: Those who read occasionally and need suggestions for their next book. • Audiobook listeners: A growing segment of users who prefer to listen rather than read. 3. POSITIONING STRATEGY: Olympus AI will be positioned as an innovative player providing a unique, precise, and personalized book matching service. By leveraging sophisticated AI technology, BookMatch will stand out as a technologically advanced, intuitive, and user-friendly platform. 4. MARKETING CHANNELS AND PROMOTIONAL TACTICS: Our marketing campaign will primarily focus on digital platforms: • Social Media: Targeted ads, partnerships with book influencers, hosting reading challenges and launching hashtag campaigns on platforms like Instagram, Twitter, Facebook and Goodreads. • Email Marketing: Regular newsletters featuring user reading statistics, personalized book recommendations, and author interviews. • Content Marketing: Blog posts featuring top book picks, author interviews, and reading tips. • PR: Partnerships with popular authors and publishing houses. 5. BUDGET AND RESOURCES: We allocate a preliminary budget of $200,000 for initial marketing strategies, divided among different channels based on their potential reach and effectiveness. 6. KPIS AND METRICS: Key performance indicators include: • App Downloads • User Retention Rate • Reviews and Ratings on App Stores • Social Media Engagement 7. LAUNCH STRATEGY: • Pre-Launch: Generate buzz through teaser campaigns on social media. • Launch Day: Official launch announcement through all digital channels, with a variety of promotional activities including contests and giveaways. • Post-Launch: Maintain consistent engagement with users through continuous content creation, personalized emails, and interactive social media activity. Seek user feedback for app enhancement and incorporate valuable suggestions into ongoing updates. • Major Campaigns: Plan seasonal campaigns, partnerships with authors for special events and collaborations with book clubs.
