andreas weigend @aweigend weigend
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Andreas Weigend @aweigend www.weigend.com. 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. Share Distribute Interpret Empower. - PowerPoint PPT PresentationTRANSCRIPT
Andreas Weigend@aweigend
www.weigend.com
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
• Collect• Solicit• Mine• Segment
• Share• Distribute• Interpret• Empower
A Shift in Language
1800’s: Transport energy Industrial Revolution
1900’s: Transport data Information Revolution
2000’s: Create data Social Data Revolution
Technologies Enabling Innovation
4,000,000 Web searches
500,000 Content shares
100,000 Product searches
40,000 Tweets created
40,000 Links shortened
In the last sixty seconds…
us.hsmglobal.com/contenidos/… bit.ly/WIF2010
1990’s: Search find
2000’s: Social share
2010’s: Mobile create
Waves of Innovation
Social Data Revolution
Social Data RevolutionHow the
Changes (Almost) Everything
Introduction Data and BehaviorI C2B (Customer-to-
Business)II C2C (Customer-to-
Customer)III C2W (Customer-to-World)IV Insights
4:55–5:00pm
Q&A
Agenda
ConnectingComputers
ConnectingPages
ConnectingPeople
Underlying?
Data The amount of data each person
creates doubles every 1.5 … 2 years
2x
time?
Data The amount of data each person
creates doubles every 1.5 … 2 years
□ after five years x 10□ after ten years x 100□ after twenty years x 10000
+ Computation
Since then…
+ Communication
+ Sensing
1 billion connected sensors
40 billion RFID tags
Pay-as-you-drive car insurance (GPS)
Monitors your excercise and sleep
99% DNAoverlap
Biology: ~100k yrs
Time Scales
Social Norms: ~10 yearsData, Technology: ~1 year
Introduction Data and BehaviorI C2B (Customer-to-
Business)II C2C (Customer-to-
Customer)III C2W (Customer-to-World)IV Insights
4:55–5:00pm
Q&A
Agenda
C2BPart I:
+1 800-4-SCHWAB
Imagine...
You knew all the things people here have bought
... what would you do?
You knew all of their friends
You knew their secret desires
…based on reviews
Amazon.com helps peoplemake decisions…
Customers who bought this item also
bought…
Customers who viewed this item also viewed…
Customers who viewed this item ultimately
bought…
Social proof:Put your money where your mouth is
How do you know peoples’secret desires?
World Innovation Forum
Situation Geo-location Device
Attention Clicks, Transactions
Intention Search
Data Sources
Connection Social graph
New phone product: How to market?
Connection dataWho called whom?
Traditional segmentation
DemographicsLoyalty
Connection data
Traditionalsegmentation
0.28%
Adoptionrate
1.35%
4.8x
Business
Customers
C2C = Customer-to-Customer
Customers share with each other
C2CPart II:
Amazon.com Share the Love
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 for
communication)
Or is information justan excuse for
communication?
Purpose of communication:to transmit information?
What do my friends think of this product?
Social graph targeting
Provide list of prospects
Fraud reduction
–
Provide risk scores
Social network intelligence
C2WPart III:
Amazon.com: Public sharing of interests
Add on-line features to off-line products…
Consumers
- Engage- Share- Connect
3 times per week
“We are not in the business of keeping the media companies
alive.”
“We are in the business of connecting with consumers.”
Trevor EdwardsNike Corporate Vice President forBrand and Category Management
Q: Or rather in the business of facilitating consumers to connect with
each other?
• Search tweets• Create tweets • Follow users
The Illusion of an Audience
InsightsPart IV:
Product
Customer
Brand
From controlled production for the masses…
… to uncontrolled production by the masses
Consumersdiscussing
ideas
Consumers helpingconsumer
s
Rooms to Avoid:
01, 21
08, 17
Rooms Ending in:
Possible Ice Machine / Elevator Noise
Limited View Rooms
Corner / Oversized Rooms:
04
24
Oversized, Corner Room, Quiet RoomOversized, Corner Room with North Times Square Views (Higher Floors are Preferred
Rooms Ending in:
Group buying… “get a better deal”
From e-business… (company focus, Web 1.0)
…to me-business (customer focus , Web 2.0)
…to we-business (community focus , Web 3.0)
E Me We-business
Dead data Live dataCollect and analyze Create, share, experiment
Internal External“Most smart people don’t work here.” Bill Joy
Innovation
QuestionsPart V:
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?
Audience Question 1
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?
Audience Question 2
@aweigend
Andreas Weigend | www.weigend.com
Thank you!