World Innovation Forum 2010 - Andreas Weigend - Social Data Revolution

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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

  1. Andreas Weigend<br />@aweigend<br />www.weigend.com<br />
  2. Who creates data? <br />Production: Data is digital air<br />How will this data be shared?<br />Distribution: Everyone is a publisher<br />What will this data be used for? <br />Consumption: Behavior changes<br />
  3. A Shift in Language<br />Share<br />Distribute<br />Interpret<br />Empower<br />Collect<br />Solicit<br />Mine<br />Segment<br />
  4. Technologies Enabling Innovation<br />1800’s: Transport energy <br />Industrial Revolution<br />1900’s: Transport data <br />Information Revolution<br />2000’s: Create data <br />Social Data Revolution<br />
  5. In the last sixty seconds…<br />
  6. us.hsmglobal.com/contenidos/… bit.ly/WIF2010<br />
  7. Waves of Innovation<br />1990’s: Search  find<br />2000’s: Social  share<br />2010’s: Mobile  create<br /> Social Data Revolution<br />
  8. Social Data Revolution<br />How the<br />Changes (Almost) Everything<br />
  9. Agenda<br />
  10. ConnectingComputers<br />
  11. ConnectingPages<br />
  12. ConnectingPeople<br />
  13. Underlying?<br />
  14. Data<br />The amount of data each person creates doubles every 1.5 … 2 years<br />2x<br />time?<br />
  15. Data<br />The amount of data each person creates doubles every 1.5 … 2 years<br />□ after five years  x 10<br />□ after ten years  x 100<br />□ after twenty years  x 10000<br />
  16. Since then…<br />+ Computation<br />+ Communication<br />+ Sensing<br />
  17. 1 billion connected sensors<br />
  18. 40 billion RFID tags<br />
  19. Pay-as-you-drive car insurance (GPS)<br />
  20. Monitors your excercise and sleep<br />
  21. 99% DNAoverlap<br />
  22. Time Scales<br />Data, Technology: ~1year<br />Social Norms: ~10 years<br />Biology: ~100k yrs<br />
  23. Agenda<br />
  24. C2B<br />Part I:<br />
  25. +1 800-4-SCHWAB<br />
  26. Imagine...<br /><ul><li> You knew all the things people here have bought
  27. You knew all of their friends
  28. You knew their secret desires</li></ul>... what would you do?<br />
  29. Amazon.com helps people<br />make decisions…<br />…based on reviews<br />
  30. Customers whoboughtthis item alsobought…<br />
  31. Customers whoviewedthis item alsoviewed…<br />
  32. Customers whoviewedthis item ultimately bought…<br />
  33. Social proof:<br />Put your money where your mouth is<br />
  34. How do you know peoples’<br />secret desires?<br />World Innovation Forum<br />
  35. Data Sources<br /><ul><li>Attention</li></ul>Clicks, Transactions<br /><ul><li>Intention</li></ul> Search<br /><ul><li>Connection</li></ul>Social graph<br /><ul><li>Situation</li></ul>Geo-location<br />Device<br />
  36. New phone product: How to market?<br /><ul><li>Connection data</li></ul>Who called whom?<br /><ul><li>Traditional segmentation</li></ul>Demographics<br />Loyalty<br />
  37. 1.35%<br />Adoptionrate<br />4.8x<br />0.28%<br />Connection data<br /> Traditionalsegmentation<br />
  38. Business<br />Customers<br />
  39. C2C = Customer-to-Customer<br />Customers share with each other<br />
  40. C2C<br />Part II:<br />
  41. Amazon.com Share the Love<br />
  42. Result:Amazingconversion rates since customer chooses<br />Content (the item)<br /> Context (she just bought that item)<br /> Connection(she asked Amazon to email her friend)<br /> Conversation(information as excuse for communication)<br />
  43. Purpose of communication:to transmit information?<br />Or is information justan excuse for communication?<br />
  44. What do my friends think of this product?<br />
  45. Social graph targeting<br />Provide list of prospects<br />
  46. Fraud reduction<br />Provide risk scores<br />
  47. Social network intelligence<br />
  48. C2W<br />Part III:<br />
  49. Amazon.com: Public sharing of interests<br />
  50. Add on-line features to off-line products…<br />
  51. Consumers- Engage- Share- Connect<br />3 times per week<br />
  52. “We are not in the business of keeping the media companies alive.”<br />Trevor EdwardsNike Corporate Vice President forBrand and Category Management<br />“We are in the business of connecting with consumers.”<br />Q: Or rather in the business of facilitating consumers to connect with each other?<br />
  53. <ul><li> Search tweets
  54. Create tweets
  55. Follow users</li></li></ul><li>The Illusion of an Audience<br />
  56. Insights<br />Part IV:<br />
  57. Customer<br />Product<br />Brand<br />
  58. From controlled production for the masses… <br />… to uncontrolled production by the masses<br />
  59. Consumers<br />discussing<br />ideas<br />
  60. Consumers helping<br />consumers<br />
  61. Corner / Oversized Rooms:<br />Rooms Ending in:<br />04<br />Oversized, Corner Room, Quiet Room<br />24<br />Oversized, Corner Room with North Times Square Views (Higher Floors are Preferred<br />Rooms to Avoid:<br />Rooms Ending in:<br />01, 21<br />Possible Ice Machine / Elevator Noise<br />08, 17<br />Limited View Rooms<br />
  62. Group buying… “get a better deal”<br />
  63. E  Me  We-business<br /> From e-business… (company focus, Web 1.0)<br /> …to me-business (customer focus , Web 2.0)<br /> …to we-business (community focus , Web 3.0)<br />
  64. Innovation<br /> Dead data  Live data<br />Collect and analyze  Create, share, experiment<br /> Internal  External<br />“Most smart people don’t work here.” Bill Joy<br />
  65. Questions<br />Part V:<br />
  66. Audience Question 1<br /> Do you have any advice on how we can be authentic in the era of Social Data?<br /> For companies with limited resources, what are the costs of some of the suggestions you mentioned in the talk?<br />
  67. Audience Question 2<br /> What is the most important ingredient for a successful innovation strategy?<br /> Do you have any specific suggestion for traditional companies: how can we learn more about the culture change of the Social Data Revolution?<br />
  68. Thank you!<br />@aweigend<br />Andreas Weigend | www.weigend.com<br />

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