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Join the new course "Social Data and E-Business" at Stanford University with Andreas Weigend. Explore how data is reshaping e-business models and customer interactions. Learn about Me-Business, We-Business, and bridging physical and digital realms. Understand the impact of the Social Data Revolution on decision-making and customer connections. Dive into the exponential growth of data and its significance in the modern digital landscape. Discover the transformative power of shared data in communication and consumer behavior.
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@aweigend aweigend@stanford.edu Andreas Weigend www.weigend.com
New Course Spring QuarterSocial Data and E-Business • MS&E 237 (formerly Statistics 252) • 3 Units • Tue Thu 4:15 PM - 5:30 PM • More info at www.weigend.com • facebook.com/socialdatarevolution
Thesis 4:Helpyourcustomersmake betterdecisions.They are smart.
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
The Next Big Thing Colin Harrison 1996
Integrated Media Measurement Inc • IMMI • Listening into your room • every 30 seconds, • for 10 seconds.
Time Scales “Real Time”: ~h? m? s? Biology: ~100k yrs Data, Technology: ~1year Social Norms: ~10 years
Abundant? Scarce?
Social Data Revolution How the Changes (Almost) Everything
Social Data = Shared Data 15 billion ................ pieces of content shared per month
Purpose of communication:to transmit information? Or is information justan excuse for communication?
100+ million users per day 350+ million uniques January 2010 40 minutes avg per user per day < 1 cent per user per day
Social Data = Shared Data 20 hours of videos uploaded every minute
Social Data = Shared Data 1 billion videos watched per ..... day
C2B Part I:
Imagine... • You knew all the things people here have bought • You knew all of their friends • You knew their secret desires ... what would you do?
3 Myths about Decision Making • 1. People know what they want • 2. People know what’s out there • 3. People know what they will actually get
Amazon.com helps people make decisions… … based on clicks and purchases
How do you know peoples’ secret desires?
Data Sources • Attention • Transactions • Clicks • Intention • Search • Situation • Location • Device
Business Customers
C2C Part II:
C2C = Customer-to-Customer • Customers share with each other
Amazingconversion 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)
