Business Models and Market Validation

What Is Huffman Coding? Huffman coding is a powerful algorithm for compressing data without losing information, also called "lossless compression". It replaces frequently recurring characters with shorter binary codes, and rare characters with longer ones, making files and data smaller in size. This technique is used in many modern compression formats. Why Use Huffman Coding? Traditional encoding (like ASCII) gives every character the same number of bits (usually 8). But if some characters appear way more often, there's an opportunity for optimisation. Huffman coding finds the most efficient way to assign variable-length codes so the overall data size is minimised. How Does Huffman Coding Work? Let’s break the process down: 1. Frequency Analysis First, count the frequency of each character in the text. More frequent characters are “cheaper” to encode. Example: For the string ABRACADABRA:   A: 5 B: 2 R: 2 C: 1 D: 1 2. Initialise Priority Queue Put each character and its fr...

Business Model and Market Validation: Building the Foundation for a Successful Startup Launching a new business is exciting, but turning an idea into a sustainable and profitable company requires more than just creativity. It demands a clear business model and proper market validation. These two components form the backbone of every successful startup, helping you understand how your business will work and whether customers actually want what you’re offering. In this blog, we’ll explore what a business model is, why market validation is essential, and the key components of both. What is a Business Model? A 'Business Model' is the blueprint for how your company creates, delivers, and captures value. In simple terms, it explains 'how your business will make money'. It defines your target customers, the value you offer them, how you reach them, and how your company operates to sustain profit and growth. Key Components of a Business Model Building a solid business model inv...