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Data is the New Oil

Data is the New Oil. Andreas Weigend Telecom NZ Auckland, 31 July 2013 aweigend@stanford.edu. 1980’s. 1980’s. Connecting Computers. 1990’s. 1990’s. Connecting Pages. 2000’s. 2000’s. Connecting People. 2010’s. 2010’s. Connecting Sensors. This morning…. Berkeley. SF Home.

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Data is the New Oil

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  1. Data is the New Oil Andreas Weigend Telecom NZAuckland, 31 July 2013aweigend@stanford.edu

  2. 1980’s 1980’s Connecting Computers

  3. 1990’s 1990’s Connecting Pages

  4. 2000’s 2000’s Connecting People

  5. 2010’s 2010’s Connecting Sensors

  6. This morning…

  7. Berkeley SF Home Facebook Stanford Google

  8. SoLoMo • Social • Local • Mobile • Proxy for person • Easy interactions

  9. London, 1854

  10. London1854

  11. Data Strategies • Amazon • US$ 130 bn • Google • USD 290 bn • Facebook • USD 60 bn

  12. 1. Amazon Goal: Help customers make better decisions Data strategy: Make it trivially easy to • Contribute • Connect • Collaborate

  13. Amazon: Discover through Data • Manual (Experts) • Implicit (Clicks, Searches) • Explicit (Reviews, Lists) • Situation (Local, Mobile) • Social graph (Connections)

  14. Social Commerce Amazon’s Share the Love

  15. The 4 C’s of Commerce • Content • Context • Connection • Conversation

  16. Where are the Conversations? Company Consumers

  17. Case: Data sources for marketing a new phone product • Segmentation (Demographics, Loyalty) • Social Graph(Who called whom?)

  18. 1.35% Adoptionrate 4.8x 0.28% • Segmentation • Social Graph

  19. Marketing Non-Social: Audience Social: Connected Individual

  20. Recap: E, me, we! • Digitize: E-commerce • Focus on company and products • Share: Me-commerce • Focus on consumer and attributes • Connect: We-c0mmerce • Focus on connection between consumers

  21. 2. Google GLΛSS

  22. google.com/history 15,317searches

  23. Imagine… ...you had all the data in the world… … what would you do todelight your customers?

  24. Mindset: Give data to get data • Do your customers understand the value they get when they give you data? • Does your product or service getbetter over time, with data, or worse?

  25. 3. Facebook Is the purpose of communicationto transmit information? or... Is information just an excuse for communication?

  26. Who do you trust? • Yourinsurance? • Your newspaper? • Your government? • Your financial advisor? • Your friends?

  27. Why? The ABC of Social Data • Approval • Belonging • Connection

  28. Shift in Communication Patterns

  29. 1993 “On the Internet, nobody knows you’re a dog”

  30. 2013 “On the Internet, everybody knows you’re a dog”

  31. Business Models Non-Social: Craigslist Social: Airbnb

  32. Recap: The 4 C’s of Commerce • Content • Context • Connection • Conversation

  33. Content • Context • Connection • Conversation Constraints? • Is your system optimized around constraints of the past?

  34. Markets are Conversations Conversations are Markets 2000 2013

  35. 4 Rules • Start with a question, not with the data • Focus on metrics that matter to your customers • Focus on actions and feedback, not on analytics and reports • Let people do what people are good at, and computers do what they are good at

  36. Global Culture Shift • Amazon has changed the way a billion people think about purchases • Google has changed the way a billion people think about information • Facebook has changed the way a billion people think about identity

  37. Our Data… Beyond Commerce: • Future of Learning • Future of Work • Future of Health • …

  38. Andreas Weigend @aweigend weigend.com +1 650 906-5906 aweigend@stanford.edu

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