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World Innovation Forum 2010 at New York City, Presentation by ex-Chief Scientist, Andreas Weigend on Social Data Revolution

World Innovation Forum 2010 at New York City, Presentation by ex-Chief Scientist, Andreas Weigend on Social Data Revolution

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

    • 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