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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 Andreas Weigend Telecom NZAuckland, 31 July 2013aweigend@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
Berkeley SF Home Facebook Stanford Google
SoLoMo • Social • Local • Mobile • Proxy for person • Easy interactions
Data Strategies • Amazon • US$ 130 bn • Google • USD 290 bn • Facebook • USD 60 bn
1. Amazon Goal: Help customers make better decisions Data strategy: Make it trivially easy to • Contribute • Connect • Collaborate
Amazon: Discover through Data • Manual (Experts) • Implicit (Clicks, Searches) • Explicit (Reviews, Lists) • Situation (Local, Mobile) • Social graph (Connections)
Social Commerce Amazon’s Share the Love
The 4 C’s of Commerce • Content • Context • Connection • Conversation
Where are the Conversations? Company Consumers
Case: Data sources for marketing a new phone product • Segmentation (Demographics, Loyalty) • Social Graph(Who called whom?)
1.35% Adoptionrate 4.8x 0.28% • Segmentation • Social Graph
Marketing Non-Social: Audience Social: Connected Individual
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
google.com/history 15,317searches
Imagine… ...you had all the data in the world… … what would you do todelight your customers?
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?
3. Facebook Is the purpose of communicationto transmit information? or... Is information just an excuse for communication?
Who do you trust? • Yourinsurance? • Your newspaper? • Your government? • Your financial advisor? • Your friends?
Why? The ABC of Social Data • Approval • Belonging • Connection
1993 “On the Internet, nobody knows you’re a dog”
2013 “On the Internet, everybody knows you’re a dog”
Business Models Non-Social: Craigslist Social: Airbnb
Recap: The 4 C’s of Commerce • Content • Context • Connection • Conversation
Content • Context • Connection • Conversation Constraints? • Is your system optimized around constraints of the past?
Markets are Conversations Conversations are Markets 2000 2013
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
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
Our Data… Beyond Commerce: • Future of Learning • Future of Work • Future of Health • …
Andreas Weigend @aweigend weigend.com +1 650 906-5906 aweigend@stanford.edu