World Innovation Forum

Andreas Weigend @aweigend www.weigend.com

Who creates data? Production: Data is digital airHow will this data be shared? Distribution: Everyone is a publisherWhat will this data be used for? Consumption: Behavior changes

A Shift in Language• Collect • Share• Solicit • Distribute• Mine • Interpret• Segment • Empower

Technologies Enabling Innovation1800’s: Transport energy  Industrial Revolution1900’s: Transport data  Information Revolution2000’s: Create data  Social Data Revolution

In the last sixty seconds…4,000,000 Web searches 500,000 Content shares 100,000 Product searches 40,000 Tweets created 40,000 Links shortened

us.hsmglobal.com/contenidos/… bit.ly/WIF2010

Waves of Innovation1990’s: Search  find2000’s: Social  share2010’s: Mobile  create  Social Data Revolution

How the Social Data Revolution Changes (Almost) Everything

AgendaIntroduction Data and Behavior I C2B (Customer-to-Business) II C2C (Customer-to-Customer) III C2W (Customer-to-World) IV Insights4:55–5:00pm Q&A

ConnectingComputers

ConnectingPages

ConnectingPeople

Underlying?

DataThe amount of data each person createsdoubles every 1.5 … 2 years 2x time?

DataThe amount of data each person createsdoubles every 1.5 … 2 years □ after five years  x 10 □ after ten years  x 100 □ after twenty years  x 10000

Since then…+ Computation + Communication + Sensing

1 billion connected sensors

40 billion RFID tags

Pay-as-you-drive car insurance (GPS)

Monitors your excercise and sleep

99% DNA overlap

Time Scales Data, Technology: ~1 year Social Norms: ~10 years Biology: ~100k yrs

AgendaIntroduction Data and Behavior I C2B (Customer-to-Business) II C2C (Customer-to-Customer) III C2W (Customer-to-World) IV Insights4:55–5:00pm Q&A

Part I: C2B

+1 800-4-SCHWAB

Imagine...  You knew all the things people here have bought  You knew all of their friends  You knew their secret desires ... what would you do?

Amazon.com helps peoplemake decisions… …based on reviews

Customers who bought this item also bought…

Customers who viewed this item also viewed…

Customers who viewed this item ultimately bought…

Social proof:Put your moneywhere yourmouth is

How do you know peoples’secret desires? World Innovation Forum

 Attention Data Sources Clicks, Transactions  Intention Search Connection  Situation Social graph Geo-location Device

New phone product: How to market? Traditional segmentation  Connection data Demographics Who called whom? Loyalty

1.35% Adoption rate 4.8x 0.28% Traditional Connectionsegmentation data

BusinessCustomers

C2C = Customer-to-CustomerCustomers share with each other

Part II: C2C

Amazon.com Share the Love

Result: Amazing conversion rates since customer chooses Content (the item) Context (she just bought that item) Connection (she asked Amazon to email her friend) Conversation (information as excuse forcommunication)

Purpose of communication:to transmit information? Or is information just an excuse for communication?

What do my friends think of this product?

Social graph targetingProvide list of prospects

Fraud reduction –Provide risk scores

Social network intelligence

C2WPart III:

Amazon.com: Public sharing of interests

Add on-line features to off-line products…

Consumers- Engage- Share- Connect3 times per week

“We are not in the business of keeping the media companies alive.” Trevor Edwards Nike Corporate Vice President for Brand and Category Management “We are in the business of connecting with consumers.”Q: Or rather in the business of facilitating consumers to connect with each other?

• Search tweets• Create tweets• Follow users

The Illusion of an Audience

Part IV: Insights

Customer Product Brand

From controlled production for the masses… … to uncontrolled production by the masses

Consumersdiscussing ideas

Consumers helpingconsumers

Corner / Oversized Rooms: Rooms Ending in: Oversized, Corner Room, Quiet 04 Room Oversized, Corner Room with North 24 Times Square Views (Higher Floors are PreferredRooms to Avoid:Rooms Ending in: 01, 21 Possible Ice Machine / Elevator Noise 08, 17 Limited View Rooms

Group buying… “get a better deal”

E  Me  We-business From e-business… (company focus, Web 1.0) …to me-business (customer focus , Web 2.0) …to we-business (community focus , Web 3.0)

Innovation Dead data  Live data Collect and analyze  Create, share, experiment Internal  External “Most smart people don’t work here.” Bill Joy

Part V: Questions

Audience Question 1 Do you have any advice on how we can be authentic in the era of Social Data? For companies with limited resources, what are the costs of some of the suggestions you mentioned in the talk?

Audience Question 2 What is the most important ingredient for a successful innovation strategy? Do you have any specific suggestion for traditional companies: how can we learn more about the culture change of the Social Data Revolution?

Thank you! @aweigendAndreas Weigend | www.weigend.com

World Innovation Forum

by Andreas Weigend

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