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Social Data is the New Oil

Social Data is the New Oil. Andreas Weigend, PhD Stanford University Social Data Lab. Outline. Examples Airnbnb . Branchout . Any.do . Instagram . The Past Content. Community. Commerce. The Future Context. Connection. Conversation. 5 Rules for Big Data. Social Data.

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Social Data is the New Oil

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  1. Social Data is the New Oil Andreas Weigend, PhD Stanford University Social Data Lab Social Data Lab

  2. Outline • Examples • Airnbnb. Branchout. Any.do. Instagram. • The Past • Content. Community. Commerce. • The Future • Context. Connection. Conversation. • 5 Rules for Big Data Social Data Lab

  3. Social Data • Airnbnb • vs Craigslist • Branchout • vsLinkedIn • Any.do • vs non-social task lists • Instagram • vs traditional photo sharing sites Social Data Lab

  4. The C’s of the 2000’s • Content • Google • Community • Facebook • Commerce • Amazon • Impact on the way we think / relate / transact? Social Data Lab

  5. The 2000’s The 2010’s Context Connection Conversation • Content • Community • Commerce Social Data Lab

  6. Context • Data (“non-social”) • Searches • Sensors • … ? • Social Data • Photos • Tags • ... ? Exercise: Talk to your neighborand come up with data sources Social Data Lab

  7. Connection • Identity • from attribute-based … • … to relationship-based • Example: Impact on Marketing • from segment … • … to individual Social Data Lab

  8. Conversation • from “Markets are Conversations” … • … to “Conversations are Markets” • Most conversations are peer to peer • Social data vs social media Social Data Lab

  9. Recap of Part 1 • Examples • Airnbnb. Branchout. Any.do. Instagram. • The Past • Content. Community. Commerce. • The Future • Context. Connection. Conversation. Social Data Lab

  10. Part 2 Five Rules for Big Data Social Data Lab

  11. 1. Start with the problem, not with the data Social Data Lab

  12. 2. Base the equation of your business on customer centric metrics Social Data Lab

  13. 3. Make it trivially easy for people to contribute, connect, and collaborate Social Data Lab

  14. 4. Give data to get data Social Data Lab

  15. 5. Let people do what people are good at, and computers what computers are good at Social Data Lab

  16. Thou shalt not blame technology for barriers of institutions and society Social Data Lab

  17. Questions? Thank you. aweigend@stanford.edu Social Data Lab

  18. Social Data is the New Oil • Contact • aweigend@stanford.edu • 650 906-5906 (mobile) • weigend.com • Lab • socialdatalab.stanford.edu • Videos • youtube.com/socialdatarevolution Social Data Lab

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