In many people's minds, crowd finance and charitable giving are synonymous. Crowd finance presents nonprofits with unique opportunities to reach engaged audiences and raise large volumes of funding for major projects at home or overseas. Some choose to use 'mainstream' platforms such as Kickstarter and Indiegogo to power their efforts, however platforms such as Kiva and JustGiving have developed with a specialist focus on charitable efforts.
But what can we discern in amongst the mass of data produced by this multi-million pound industry? To answer this question we turned to Daisy, our new machine intelligence application. Incorporated within Crowdsurfer Pro, our Daisy technology can analyse and break down the key concepts behind a given sample of campaigns.
The resulting 'concept clouds', break down titles and descriptions of 2016 charity raises on UK platforms, leaving us with the key themes/concepts behind the campaigns.
Machine intelligence; meet Daisy
Daisy is Crowdsurfer's machine intelligence application. She is able to 'read' bodies of text, extracting the key themes of the campaigns, known as concepts. These are then analysed in comparison to our unique, proprietary database of global crowd finance campaigns. Daisy is able to 'weight' the concepts according to their significance within a given dataset, as well as our entire database. This offers an invaluable insight into the market, one which is available nowhere else.
What do these charts tell us?
- Both foreign and domestic causes are being funded via UK platforms.
- Developing world causes are strongly represented, most notably African projects linked to Ghana and Uganda.
- Urgent global issues also make our list, including multiple references to South Sudanese refugees.
- Agriculture is a major theme. Note: microloans to help agricultural smallholders and entrepreneurs are classified as charity donations, even thought they require repayment, as the lending organisations do not apply interest.
- Justice (judicial review, justice), family (husband, wife, orphan) & education (getting an education) are also visible, although they are ranked as 'less prominent' by Daisy's algorithms.