Social Data@World Innovation Forum


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Slides for presentation at World Innovation Forum 2010

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Social Data@World Innovation Forum

  1. 1. © Andreas S. Weigend, PhD 2010‐06‐18 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 • Collect • Share • Solicit • Distribute • Mine • Interpret Andreas Weigend • Segment • Empower @aweigend Technologies Enabling Innovation In the last sixty seconds… 1800’s: Transport energy  4,000,000 Web searches Industrial Revolution 500,000 Content shares 1900’s: Transport data  100,000 Product searches Information Revolution 40,000 Tweets created 2000’s: Create data  40,000 Links shortened Social Data Revolution 1
  2. 2. © Andreas S. Weigend, PhD 2010‐06‐18 Waves of Innovation 1990’s: Search  find… 2000 s: 2000’s: Social  share 2010’s: Mobile  create  Social Data Revolution Agenda Introduction Data and Behavior I C2B (Customer-to-Business) II C2C (Customer-to-Customer) III C2W (Customer-to-World) IV Insights How the Social Data Revolution 4:55–5:00pm Q&A Changes (Almost) Everything Connecting Connecting Computers Pages 2
  3. 3. © Andreas S. Weigend, PhD 2010‐06‐18 Connecting Underlying? People Data Data The amount of data each person creates The amount of data each person creates doubles every 1.5 … 2 years doubles every 1.5 … 2 years 2x □ after five years  x 10 □ after ten years  x 100 □ after twenty years  x 10000 time? Since then… + Computation + Communication + Sensing 3
  4. 4. © Andreas S. Weigend, PhD 2010‐06‐18 1 billion connected sensors 40 billion RFID tags 4
  5. 5. © Andreas S. Weigend, PhD 2010‐06‐18 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 Agenda Introduction Data and Behavior I C2B (Customer-to-Business) II C2C (Customer-to-Customer) C2B III C2W (Customer-to-World) IV Insights Part I: 4:55–5:00pm Q&A 5
  6. 6. © Andreas S. Weigend, PhD 2010‐06‐18 Imagine...  You knew all the things people here have bought  You knew all of their friends  You knew their secret desires +1 800-4-SCHWAB ... what would you do? helps people make decisions… …based on reviews Customers who bought this item also bought… Customers who viewed this item ultimately bought… Customers who viewed this item also viewed… 6
  7. 7. © Andreas S. Weigend, PhD 2010‐06‐18 helps people make decisions… … based on clicks and purchases Social proof: Put your money  where your  mouth is How do you know peoples’ secret desires? Why do we  World Innovation Forum trust what  other buyers  recommend?  Attention Data Sources New phone product: How to market? Clicks, Transactions  Intention Search  Traditional segmentation  Connection data  Connection  Situation Demographics Who called whom? Loyalty Social graph Geo-location Device 7
  8. 8. © Andreas S. Weigend, PhD 2010‐06‐18 Business 1.35% Adoption rate 4.8x 0.28% Customers Traditional Connection segmentation data C2C = Customer-to-Customer Part II: C2C Customers share with each other Result: Amazing conversion rates Share the Love since customer chooses Content (the item) Context C t t (she just bought that item) Connection (she asked Amazon to email her friend) Conversation (information as excuse for communication) 8
  9. 9. © Andreas S. Weigend, PhD 2010‐06‐18 Purpose of communication: to transmit information? Or is information just an excuse for communication? Social graph targeting Provide list of prospects What do my friends think of this product? Fraud reduction Social network intelligence – Provide risk scores 9
  10. 10. © Andreas S. Weigend, PhD 2010‐06‐18 Public sharing of interests Part III: C2W Consumers - Engage - Sh Share - Connect 3 times per week Add on‐line features to off‐line products… “We are not in the business of keeping the media companies alive.” Trevor Edwards Nike Corporate Vice President for Brand and Category Management • Search tweets “We are in the business of • Create tweets connecting with consumers.” • Follow users Q: Or rather in the business of facilitating consumers to connect with each other? 10
  11. 11. © Andreas S. Weigend, PhD 2010‐06‐18 The Illusion of an Audience = + wheels Part IV: Insights = + heels From controlled production for the masses… Customer Product Brand … to uncontrolled production by the masses 11
  12. 12. © Andreas S. Weigend, PhD 2010‐06‐18 Consumers discussing ideas Consumers  helping consumers 12
  13. 13. © Andreas S. Weigend, PhD 2010‐06‐18 Corner / Oversized Rooms: Rooms Ending in: Oversized, Corner Room, Quiet 04 Room Oversized, Corner Room with North 24 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 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) Group buying… “get a better deal” Innovation  Dead data  Live data Introduction Data and Behavior Collect and analyze  Create, share, experiment I C2B (Customer-to-Business) II C2C (Customer-to-Customer)  Internal  External III C2W (Customer-to-World) “Most smart people don’t work here.” Bill Joy IV Insights Q&A 13
  14. 14. © Andreas S. Weigend, PhD 2010‐06‐18 Q&A @aweigend Andreas Weigend @aweigend www Marketer-generated Consumer-generated be aware share consider form opinion buy use Funnel Megaphone 14