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World Innovation Forum

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World Innovation Forum 2010. Would like to download the Presentation? Please pay with a Tweet by following the link: http://www.paywithatweet.com/pay/?id=844e8b6643e07f0c2a8f06a03a5bb1b9

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World Innovation Forum

  1. 1. Andreas Weigend @aweigend www.weigend.com
  2. 2. Who creates data? Production: Data is digital airHow will this data be shared? Distribution: Everyone is a publisherWhat will this data be used for? Consumption: Behavior changes
  3. 3. A Shift in Language• Collect • Share• Solicit • Distribute• Mine • Interpret• Segment • Empower
  4. 4. Technologies Enabling Innovation1800’s: Transport energy  Industrial Revolution1900’s: Transport data  Information Revolution2000’s: Create data  Social Data Revolution
  5. 5. In the last sixty seconds…4,000,000 Web searches 500,000 Content shares 100,000 Product searches 40,000 Tweets created 40,000 Links shortened
  6. 6. us.hsmglobal.com/contenidos/… bit.ly/WIF2010
  7. 7. Waves of Innovation1990’s: Search  find2000’s: Social  share2010’s: Mobile  create  Social Data Revolution
  8. 8. How the Social Data Revolution Changes (Almost) Everything
  9. 9. AgendaIntroduction Data and Behavior I C2B (Customer-to-Business) II C2C (Customer-to-Customer) III C2W (Customer-to-World) IV Insights4:55–5:00pm Q&A
  10. 10. ConnectingComputers
  11. 11. ConnectingPages
  12. 12. ConnectingPeople
  13. 13. Underlying?
  14. 14. DataThe amount of data each person createsdoubles every 1.5 … 2 years 2x time?
  15. 15. DataThe amount of data each person createsdoubles every 1.5 … 2 years □ after five years  x 10 □ after ten years  x 100 □ after twenty years  x 10000
  16. 16. Since then…+ Computation + Communication + Sensing
  17. 17. 1 billion connected sensors
  18. 18. 40 billion RFID tags
  19. 19. Pay-as-you-drive car insurance (GPS)
  20. 20. Monitors your excercise and sleep
  21. 21. 99% DNA overlap
  22. 22. Time Scales Data, Technology: ~1 year Social Norms: ~10 years Biology: ~100k yrs
  23. 23. AgendaIntroduction Data and Behavior I C2B (Customer-to-Business) II C2C (Customer-to-Customer) III C2W (Customer-to-World) IV Insights4:55–5:00pm Q&A
  24. 24. Part I: C2B
  25. 25. +1 800-4-SCHWAB
  26. 26. 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?
  27. 27. Amazon.com helps peoplemake decisions… …based on reviews
  28. 28. Customers who bought this item also bought…
  29. 29. Customers who viewed this item also viewed…
  30. 30. Customers who viewed this item ultimately bought…
  31. 31. Social proof:Put your moneywhere yourmouth is
  32. 32. How do you know peoples’secret desires? World Innovation Forum
  33. 33.  Attention Data Sources Clicks, Transactions  Intention Search Connection  Situation Social graph Geo-location Device
  34. 34. New phone product: How to market? Traditional segmentation  Connection data Demographics Who called whom? Loyalty
  35. 35. 1.35% Adoption rate 4.8x 0.28% Traditional Connectionsegmentation data
  36. 36. BusinessCustomers
  37. 37. C2C = Customer-to-CustomerCustomers share with each other
  38. 38. Part II: C2C
  39. 39. Amazon.com Share the Love
  40. 40. Result: Amazing conversion 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 forcommunication)
  41. 41. Purpose of communication:to transmit information? Or is information just an excuse for communication?
  42. 42. What do my friends think of this product?
  43. 43. Social graph targetingProvide list of prospects
  44. 44. Fraud reduction –Provide risk scores
  45. 45. Social network intelligence
  46. 46. C2WPart III:
  47. 47. Amazon.com: Public sharing of interests
  48. 48. Add on-line features to off-line products…
  49. 49. Consumers- Engage- Share- Connect3 times per week
  50. 50. “We are not in the business of keeping the media companies alive.” Trevor Edwards Nike Corporate Vice President for Brand 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?
  51. 51. • Search tweets• Create tweets• Follow users
  52. 52. The Illusion of an Audience
  53. 53. Part IV: Insights
  54. 54. Customer Product Brand
  55. 55. From controlled production for the masses… … to uncontrolled production by the masses
  56. 56. Consumersdiscussing ideas
  57. 57. Consumers helpingconsumers
  58. 58. Corner / Oversized Rooms: Rooms Ending in: Oversized, Corner Room, Quiet 04 Room Oversized, Corner Room with North 24 Times Square Views (Higher Floors are PreferredRooms to Avoid:Rooms Ending in: 01, 21 Possible Ice Machine / Elevator Noise 08, 17 Limited View Rooms
  59. 59. Group buying… “get a better deal”
  60. 60. 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)
  61. 61. Innovation Dead data  Live data Collect and analyze  Create, share, experiment Internal  External “Most smart people don’t work here.” Bill Joy
  62. 62. Part V: Questions
  63. 63. 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?
  64. 64. 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?
  65. 65. Thank you! @aweigendAndreas Weigend | www.weigend.com

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