1. A non-transitory computer readable storage medium storing an augmented reality application that upon execution causes a mobile computing device to: cooperate with an operating system of the mobile computing device to cause the operating system to allocate a portion of a memory in the mobile computing device to be a local cache for the augmented reality application to store augmented reality content and information and characteristics associated with real world trigger items; balance, using space utilization instructions, storing in the local cache a subset of the augmented reality content from at least one database of a server system to be displayed as part of an augmented reality scenario on a display screen of the mobile computing device and storing in the local cache the real world trigger items, against an amount of memory space set for the local cache on the mobile computing device, the balancing further comprising determining whether actual data of the subset of the augmented reality content or just hyperlinks to at least one source containing the actual data are stored in the local cache; and predict, using content selection instructions, relevant augmented reality content and real world trigger items that are most relevant for a particular user.