World Innovation Forum 2010 - Andreas Weigend - Social Data Revolution

Andreas Weigend
@aweigend
www.weigend.com

Who creates data?
Production: Data is digital air
How will this data be shared?
Distribution: Everyone is a publisher
What will this data be used for?
Consumption: Behavior changes

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

Technologies Enabling Innovation
1800’s: Transport energy 
Industrial Revolution
1900’s: Transport data 
Information Revolution
2000’s: Create data 
Social Data Revolution

In the last sixty seconds…

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

Waves of Innovation
1990’s: Search  find
2000’s: Social  share
2010’s: Mobile  create
 Social Data Revolution

Social Data Revolution
How the
Changes (Almost) Everything

Agenda

ConnectingComputers

ConnectingPages

ConnectingPeople

Underlying?

Data
The amount of data each person creates doubles every 1.5 … 2 years
2x
time?

Data
The amount of data each person creates doubles 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% DNAoverlap

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

Agenda

C2B
Part I:

+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 people
make decisions…
…based on reviews

Customers whoboughtthis item alsobought…

Customers whoviewedthis item alsoviewed…

Customers whoviewedthis item ultimately bought…

Social proof:
Put your money where your mouth is

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

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

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

1.35%
Adoptionrate
4.8x
0.28%
Connection data
Traditionalsegmentation

Business
Customers

C2C = Customer-to-Customer
Customers share with each other

C2C
Part II:

Amazon.com Share the Love

Result:Amazingconversion 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 for communication)

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

What do my friends think of this product?

Social graph targeting
Provide list of prospects

Fraud reduction
Provide risk scores

Social network intelligence

C2W
Part III:

Amazon.com: Public sharing of interests

Add on-line features to off-line products…

Consumers- Engage- Share- Connect
3 times per week

“We are not in the business of keeping the media companies alive.”
Trevor EdwardsNike Corporate Vice President forBrand 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

Insights
Part IV:

Customer
Product
Brand

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

Consumers
discussing
ideas

Consumers helping
consumers

Corner / Oversized Rooms:
Rooms Ending in:
04
Oversized, Corner Room, Quiet Room
24
Oversized, Corner Room with North Times Square Views (Higher Floors are Preferred
Rooms 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

Questions
Part V:

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!
@aweigend
Andreas Weigend | www.weigend.com

http://weigend.com	1585
http://dreamcre8or.com	120
http://adtelligence.de	83
http://www.adtelligence.de	28
http://trunimrod.com	26
http://translate.googleusercontent.com	6
https://twitter.com	5
url_unknown	2
http://www.netvibes.com	2
http://yourprivateadexchange.com	2
http://copyscape.com	1
http://webcache.googleusercontent.com	1
http://www.slideshare.net	1

World Innovation Forum 2010 - Andreas Weigend - Social Data Revolution

by Social Data Revolution

Accessibility

Categories

Upload Details

Usage Rights

13 Embeds 1,862

Statistics

World Innovation Forum 2010 - Andreas Weigend - Social Data Revolution Webinar Transcript