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Amazon en el IAB FORUM de MILANO 2013
1) The presentation discusses the power of social data and its transformation into decisions. It covers how companies like Amazon, Google and Facebook have revolutionized how people think about information, identity and purchases. 2) Amazon is presented as a model for how data can be refined to help people make better decisions. The key is making it easy for people to contribute, connect and collaborate with data. 3) The social data revolution has shifted focus from audiences to connected individuals. It has changed identities from attributes to relationships and birthed new social business models. Embracing transparency and connectivity is important.
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Amazon en el IAB FORUM de MILANO 2013
- 1. 12/04/13 Milano, 04 Dec 2013 Andreas Weigend @aweigend The Power of Social Data: Transforming Big Data into Decisions Andreas Weigend 1 1. Data and Decisions Agenda Value of Data? 2. Amazon as Data Refinery Equation of Business 3. Implications of Social Data Revolution Audience Connected Individuals and Context 4. Summary Questions via Twitter, use @aweigend www.weigend.com 2 Handout page 1
- 2. 12/04/13 Andreas Weigend @aweigend 15 years ago: Connecting Pages (Google) 10 years ago: Connecting People (FB) 5 years ago: Connecting Apps (Apple) Now: Connecting Data 3 Today, in a single day, we are creating more data than mankind did from its beginning through 2000 4 www.weigend.com Handout page 2
- 3. 12/04/13 Andreas Weigend @aweigend Mobile Context: Many sensors Identity: Proxy for person Easy for advertiser to reach user, but high cost of interrupt if inappropriate Easy for user to contribute 5 Social Data: Two Meanings 1. Relationships between people (“social graph”, e.g., on Facebook or LinkedIn) 2. Data people share (or “socialize”, e.g., check‐ in, purchase, book review, picture) ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ Note: Social Media differs from Social Data (e.g., GPS) www.weigend.com 6 Handout page 3
- 4. 12/04/13 Andreas Weigend @aweigend Social Data Revolution • Google has changed the way a billion people think about information • Facebook has changed the way a billion people think about identity •Amazon has changed the way a billion people think about purchases 7 1. Transport energy Industrial Revolution Production 2. Transport bits Information Revolution Communication 3. Create (and share) bits Social Data Rev 8 www.weigend.com Handout page 4
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- 6. 12/04/13 Andreas Weigend @aweigend Big Data: Mindset to turn Mess into Decisions <when>2013‐05‐28T00:17:08.341‐07:00</when> <gx:coord>11.0955646 47.4944176 0</gx:coord> <when>2013‐05‐28T00:46:14.410‐07:00</when> <gx:coord>11.0894932 47.4880099 0</gx:coord> <when>2013‐05‐28T00:47:14.425‐07:00</when> <gx:coord>11 106912647 5154249 0</gx:coord> 11 Berkeley SF Home Facebook Stanford Google 12 www.weigend.com Handout page 6
- 7. 12/04/13 Andreas Weigend @aweigend Imagine… …you had your geolocation from the last decade readily available at your fingertips •What question would you ask? • How would knowing that it is recorded 24/7 change your behavior? 13 London 1854 14 www.weigend.com Handout page 7
- 8. 12/04/13 Andreas Weigend @aweigend google.com/history 15,317 searches 17 What data would you pay for most? 1. Geolocation: Where did a customer go? 2. Search history: What did she search for? 3.Purchase history: What did she buy? 4. Social graph: Who are her friends? 5. Demographics and similar attributes 18 www.weigend.com Handout page 8
- 9. 12/04/13 Andreas Weigend @aweigend Big Data = Mindset to turn Mess into Decisions • External (facing the outside) •Internal (within the company) 19 The Journey of Amazon What changed? 20 www.weigend.com Handout page 9
- 10. 12/04/13 Andreas Weigend @aweigend The Journey of Amazon What changed? • Algorithms Data • • • • AI BI CI DI 21 The Journey of Amazon What changed? •Algorithms Data • • • • AI BI CI DI www.weigend.com What did not change? • “Ask for forgiveness, not for permission” • True customer‐ centricity • Recommendations and Discovery 22 Handout page 10
- 11. 12/04/13 Andreas Weigend @aweigend 1. Data and Decisions Agenda Value of Data? 2. Amazon as Data Refinery Equation of Business 3. Implications of Social Data Revolution Audience Connected Individuals and Context 4. Summary Questions via Twitter, use @aweigend 23 Amazon as Data Refinery Goal: Help people make better decisions Data strategy: Make it trivially easy to Contribute Connect Collaborate www.weigend.com 24 Handout page 11
- 12. 12/04/13 Andreas Weigend @aweigend Equation of Business • Expresses business strategy, values etc. •Needed for evaluation of experiments Rule #2: Base the equation of your business on metrics that matter to your customers 25 Equation of Business Rule #3: Focus on decisions and actions, and design for feedback 26 www.weigend.com Handout page 12
- 13. 12/04/13 Andreas Weigend @aweigend 5 Stages of Amazon Recommendations 1. Manual (Experts) 2. Implicit (Clicks, Searches) 3.Explicit (Reviews, Lists) 4. Situation (Local, Mobile) 5. Social graph (Connections) 27 Social Commerce Amazon’s Share the Love www.weigend.com Handout page 13
- 14. 12/04/13 Andreas Weigend @aweigend The 4 C’s • Content • Context •Connection • Conversation 29 2000 Markets are Conversations 2013 Conversations are Markets 30 www.weigend.com Handout page 14
- 15. 12/04/13 Andreas Weigend @aweigend Where are the Conversations? Company Consumers 1. Data and Decisions Agenda Value of Data? 2. Amazon as Data Refinery Equation of Business 3. Implications of Social Data Revolution Audience Connected Individuals and Context 4. Summary Questions via Twitter, use @aweigend 32 www.weigend.com Handout page 15
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- 19. 12/04/13 Andreas Weigend @aweigend Shift in Business Models Non‐social: hotels.com, craigslist Social: airbnb, lyft, relay rides, 39 E, Me, We! 1. Digitize: E‐commerce Focus on company and products 2. Share: Me‐commerce Focus on consumer and attributes 3. Connect: We‐c0mmerce Focus on connection between consumers www.weigend.com 40 Handout page 19
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- 22. 12/04/13 Andreas Weigend @aweigend Some Data Beliefs 1. Let people do what people are good at, and computers do what computers are good at 2. Build stuff that enables a future you want to live in 3. Givedata to get data 46 Questions for you 1. Do your customers understand the value they get when they give you data? 2. Does your product or service get better over time and with data, or worse? 47 www.weigend.com Handout page 22
- 23. 12/04/13 Andreas Weigend @aweigend Questions for me? Andreas Weigend weigend.com Social Data Lab aweigend@stanford.edu 48 Data Scientist • Data literate • Able to handle large data sets •Understands domain and modeling • Want to communicate and collaborate • Curious with “can‐do” attitude 49 www.weigend.com Handout page 23
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