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Rateocracy: When Everyone and Everything Has A Rating

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Rateocracy, a future in which everyone and everything has a rating, is quickly approaching. Today we rate people, products, restaurants and places in a fragmented way. But, there are strong commercial …

Rateocracy, a future in which everyone and everything has a rating, is quickly approaching. Today we rate people, products, restaurants and places in a fragmented way. But, there are strong commercial reasons for a peer-generated, numeric rating system that allows cross-comparison. How will Rateocracy evolve and what are its implications?

How will this impact corporations and organizations? What will life in the Rateocracy era feel like? Come explore these questions in a session built on the outline published in The Futurist and ResearchWorld magazines.

This presentation was given by Robert Moran (Brunswick Group) and Christopher Carfi (Swipp) at the World Future Society annual meeting in Chicago in July 2013. #wf13

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  • 1. RATEOCRACY: When Everyone and Everything Has a Rating
  • 2. 2 @robertpmoran @ccarfi Follow Along
  • 3. 3 http://rwconnect.esomar.org/2012/11/01/rateocracy-and-its-impact-on-market-research/ http://www.wfs.org/futurist/may-june-2012-vol-46-no-3/%E2%80%9Crateocracy%E2%80%9D-and-corporate-reputation 1 2
  • 4. 4 What is Rateocracy?
  • 5. 5 Numeric Ratings Transparent In Real-Time
  • 6. 6 Every Person Every Product Every Place
  • 7. 7 Where Trends Intersect
  • 8. 8 Rateocracy in Perspective.
  • 9. 9 We’re well on our way. Products and Services Employers Educators
  • 10. 10 And, we’re already endorsing others online.
  • 11. 11 Some firms have tried.
  • 12. 12 ... And failed
  • 13. 13 Future Scenario 1: “Hello there, High-Roller (Rated Person)”
  • 14. 14 It’s History.
  • 15. 15 Future Scenario 2: When Negative Ratings Become a Legal Matter
  • 16. 16
  • 17. 17 Fact Following Fiction …She stood and extended her hand. “I’m Lil,” she said. “Dan,” he said. “It’s a pleasure.” I knew she was pinging his Whuffie and I caught her look of surprised disapproval. Us oldsters who predate Whuffie know that it’s important; but to kids, it’s the world. Someone without any is automatically suspect…. …I took out my dated apparat, with its retro walnut finish and its dusty screen blinking with slow data, trying to get a read on whether there were any High Net Worth Individuals in the room – last chance to find some new clients for my boss, Joshie, after having found a grand total of one client during the whole year – but no one’s face was famous enough to register on my display… Vishnu worked my apparat until some RANKINGS came up. He helped me navigate the data. “Out of seven males in the Community,” he said, gesturing around the bar, “Noah’s the third hottest, I’m the fourth hottest, and Lenny’s the seventh.” “You mean I’m the ugliest guy here?” I ran my fingers through the remnants of my hair. “But you’ve got a decent personality.” Vishnu comforted me, “and you’re second in the who bar in terms of SUSTAINABILIT¥.”
  • 18. 18 Nine Implications for Corporations 1. New Balance of Power 2. Great Expectations 3. Corporate Leadership in a Transparent World 4. 24/7 Reputation Management 5. Tight Feedback Loop 6. Employees as Leading Indicators 7. Statistical Projectability 8. Information Trends 9. Rateocracy Meets Augmented Reality
  • 19. 19 Three Paths to Rateocracy 1. Niche by Niche 2. Middleware 3. Universal Rating Platform
  • 20. 20 Rating Products, Services, People and Places Rating Class Anticipated Developments Products Begins with consumer durables and expands to fast moving consumer goods. As IoT develops, the ratings become embedded in the product. Services Begins with ratings services at the brand level. Service Providers Evolves to include rating specific service providers (doctors, lawyers, teachers, waiters, hair stylists, etc.) Service Locations Rating specific service locations such as restaurants, automotive service stations, convenience stores, etc. People Already happening in the form of recommendations on LinkedIN. Generally requires a social media platform, until strong, universal facial recognition software is available. Places Built on geolocation functions in mobile devices. Could allow for heatmaps of cities that identify happy and sad places.
  • 21. 21 2011 2012 2013 Universal rating app created by Milk Labs. Reached 150,000 users, but lasts only 5 months. Started by former Googlers. Bought by Yahoo! In 2012. Not a rating app, but a recommendation stamp. Universal rating app on an 11 point scale (-5 to +5). Universal Rating Platforms
  • 22. 22 The Rateocracy Mesh People Brands Things AirBnB, eBay, Collaborative Economy Credit Scores, Klout FitBit, QS Yelp S&P Ratings, Consumer Reports TBD RelayRides KBB Check engine light Kickstarter DNC, RNC TBD TripAdvisor MIchelin TBD People Brands Things Ideas Experiences
  • 23. 23 The Rateocracy Mesh People Brands Things AirBnB, eBay, Collaborative Economy Credit Scores, Klout FitBit, QS Yelp S&P Ratings, Consumer Reports TBD RelayRides KBB Check engine light Kickstarter DNC, RNC TBD TripAdvisor MIchelin TBD People Brands Things Ideas Experiences These
  • 24. 24 The Rateocracy Mesh People Brands Things AirBnB, eBay, Collaborative Economy Credit Scores, Klout FitBit, QS Yelp S&P Ratings, Consumer Reports TBD RelayRides KBB Check engine light Kickstarter DNC, RNC TBD TripAdvisor MIchelin TBD People Brands Things Ideas Experiences Rate these
  • 25. 25 The Rateocracy Mesh People Brands Things AirBnB, eBay, Collaborative Economy Credit Scores, Klout FitBit, QS Yelp S&P Ratings, Consumer Reports TBD RelayRides KBB Check engine light Kickstarter DNC, RNC TBD TripAdvisor MIchelin TBD People Brands Things Ideas Experiences
  • 26. 26 What do you think about Google? http://swp.it/wfs-01
  • 27. 27 What do you think about Google Glass? http://swp.it/wfs-02
  • 28. 28 What do you think about wearing Google Glass in the shower? http://swp.it/wfs-03
  • 29. 29 Architecture what do you think +4.3/345 From: Canon Canon EOS 7D +3 Canon EOS 7D swipp it +4 Joe Thorson I just created a Swipp Poll. Help me out and take the poll. what do you think about the Canon EOS 7D? apps.facebook.com 30
  • 30. 30 Journey Most companies dabbling in social as a communication vehicle Limited business effectiveness Vague and difficult to measure results and returns Improve engagement and interaction Gather market feedback and quantifiable data Get familiar with Social Intelligence Technical integration and customer testing Based on learnings, integrate more deeply and broadly into: •Extended comms vehicles •Campaigns and initiatives •Services •Products Business Intelligence merges with Social Intelligence to inform business activities Example:   Amazon Studios / Netflix use crowd ratings and views to determine properties to develop and distribute, disrupting incumbent Studios through increased process efficiency and risk mitigation Social Intelligence becomes an asset class informing future business relevance, profit protection and business sustainability. Customer / marketplace data drives company valuation Stage 2 Experimental Stage 3 Functional Stage 4 Process Integration Stage 5 New Asset Creation Stage 1 Traditional
  • 31. 31 BlogHer http://www.blogher.com/do-you-follow-food-trends-which-ones
  • 32. 32 Markets For Good
  • 33. 33 Building Rateocracy into the Product
  • 34. 34 P2P / Sharing economy implications Lenders Borrowers Shared items
  • 35. 35 The inevitable future The Play Chicago +3.7 Pedro’s Grill +1.9 You just swipped Times Square +3.4 +4.1 2,346+3 YOUR SCORE INDEX TODAY (GMT) TRENDING SWIPPERS SWIPPS WORLDWIDE SCORE SPREAD 53,509 3,509 SWIPPS OVER TIME (GMT) 04.04.13 +5 0 -5 04.05.13 04.08.13 04.14.13 04.29.13 +5 +3 +2 +1 0 -3 -5 921 1520 4 34 3 3 2 +2.1 +3.5 +2.5 +4.1Times Square +4.2
  • 36. 36 The inevitable future Your friend John Sebastian current world evaluation +3.7 see scores
  • 37. 37 Thank you! http://www.brunswickgroup.com http://www.swipp.com @robertpmoran @ccarfi

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