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@[email protected]
du
Andreas Weigendwww.weigend.com
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New Course Spring QuarterSocial Data and E-BusinessMS&E 237 (formerly Statistics 252)
3 Units
Tue Thu 4:15 PM - 5:30 PM
More info at www.weigend.com
facebook.com/socialdatarevolution
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Thesis 1:
Move fromE-BusinesstoMe-Businessto We-Business
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Thesis 2: Bridge thePhysical and the Digital
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Thesis 3:
The SDR changes (almost) everything
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Thesis 4: Helpyourcustomersmake betterdecisions.
They are smart.
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ConnectingComputers
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Data The amount of data created by each
person doubles every 1.5 … 2 years
□ after five years x 10
□ after ten years x 100
□ after twenty years x 10000
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Colin Harrison
The Next Big Thing
1996
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1 billion connected flash players
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40 billion RFID tags worldwide
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Pay-as-you-drive car insurance (GPS)
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Integrated Media Measurement Inc
•IMMI
Listening into your room
every 30 seconds,
for 10 seconds.
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Biology: ~100k yrs
Time Scales
Social Norms: ~10 years
Data, Technology: ~1 year
“Real Time”: ~h? m? s?
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Abundant?
Scarce?
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http://www.skout.com | http://www.boyahoy.com
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Social Data RevolutionHow the Changes (Almost)
Everything
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Social Data = Shared Data
................pieces of content
shared
per month
15 billion
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Or is information justan excuse for
communication?
Purpose of communication:to transmit information?
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100+ million users per day350+ million uniques January 2010
40 minutes avg per user per day
< 1 cent per user per day
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Social Data = Shared Data
20 hoursof videos uploaded
every minute
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Social Data = Shared Data
1 billionvideos watched
per .....da
y
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Introduction Data
I C2B (Customer-to-Business)
II C2C (Customer-to-Customer)
III C2W (Customer-to-World)
IV Insights
Outline
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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
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1. People know what they want
2. People know what’s out there
3. People know what they will actually get
3 Myths about Decision Making
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Customers who bought this item also
bought…
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Customers who viewed this item also viewed…
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Customers who viewed this item ultimately
bought…
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… based on clicks and purchases
Amazon.com helps peoplemake decisions…
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How do you know peoples’secret desires?
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Situation Location
Device
Attention Transactions
Clicks
Intention Search
Data Sources
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Business
Customers
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C2C = Customer-to-Customer
Customers share with each other
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Amazon.com Share the Love
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Amazing conversion rates since you
chose:
Content (the item)
Context (you just bought that item)
Connection (you ask Amazon to email your friend)
Conversation (information as excuse for communication)
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Connecting People
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Social network intelligence
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Social graph targeting
Provide list of prospects
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Fraud reduction
–
Provide risk scores
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C2C = Customer-to-Customer
Customers share with each other
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C2W = Customer-to-World
Customers share with everybody
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Amazon.com: Public sharing of interests
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You are your tags Tags are distilled attention
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Top Tagsweb2.0weigendstanfordamazonpeopledataminingtechnologystatisticsinternetblogdatawebsocialscienceandreasanalyticsresearch
10196575745433623232222151514121211
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http://www.mrtweet.com
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+ wheels
+ heels
=
=
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Product
Customer
Brand
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From controlled production for the masses…
… to uncontrolled production by the masses
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Web 0 Computers
Web 1Pages
Web 2People
Data
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Social Data Revolution
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• Shift in Customer Expectations
People trust reviews and comments by others more than marketing messages
They use their friends’ attention to filter information and discover
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http://weigend.com/blog @aweigend
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Real Time Web April 20, 2010 MIT Stanford VLABGSB, Bishop Auditorium
Any pointers to related startups?Email [email protected]