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Data Crush for UPenn

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by

Chris Surdak

on 7 June 2014

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Transcript of Data Crush for UPenn

What is data crush?
The overwhelming growth of data in our world

The availability of new insights from this data

The imperative to use it, or else
Where is it coming from?
Six primary segments of society
What is it driving?
How to Respond
Data Crush
As of 2012, more humans have cell phones than toothbrushes
Mobility
In 2012, users spent approximately 10 billion minutes on Facebook
At the Federal minimum wage
of $7.25/hr, this is
$450 Billion
in lost economic
productivity
Virtual Living
1.1 billion
users on Facebook

7.7 billion minutes
spent on Facebook each year

100 hours of video
uploaded to YouTube
every minute

Twitter supports
400 million tweets per day

Instagram receives
40 million new pictures per day
Amazon: The Beast
Digital Commerce
Irrelevance of Brick and Mortar

"Show-rooming"

The "Dumbbell Effect"
Online Entertainment
Revenues from Physical Music:
9% decline
year over year since 1999

Revenues from Digital Downloads:
7% increase
year over year since 1999
Cloud Computing
SUMMARY: GROWTH!
Big Data
Big Data is the result of all of this

Analyzing and learning from data to drive business decisions

Impacting all aspects of society
The Power of Why
Through contextification we can move beyond "what" and start to understand "why"
Contextification
Every combination of who, where and when creates a trillion "markets of one"

Everywhere and everywhen creates a business opportunity
The Intimacy Imperative
Through our interactions online, organizations can begin to know us better than we know ourselves

Because they can, they must
Socialfication
Understanding and reinforcing our place in the world

Deep intimacy, on display to the whole world

The power of 'like'
True Globalization
Quantafication will add 1-2 billion NEW workers to the global economy in the next 5 years

Many will work in barter, rather than for money

Online exchanges for everything will be normal
Quantafication
Breaking down every business process into its smallest elements

Organizing so that those elements can be delivered by anyone, anywhere, anytime
Appification: The Down Side
Customers become perfect brats
I want it my way
I want it now
I want it for free
Appification
Expectation of Instant Gratification

Ubiquitous access to limitless options

Perfect market efficiency for customers
Cloudification
Anything you need, any way you need, any when you need
Thingification
All objects in our lives intelligent, connected and helpful...

... and watching everything we do all of the time
Polarize
The Dumb Bell Effect: Pick an end, there is no middle
Accelerate
Cut the cycle time of EVERY business process in half, every 12-18 months
Data-Enable
Measure absolutely EVERYTHING
Collect immediately, even if you don't know why
10x more accuracy than you think you need is a good start
Quantification
Once you have it, you must understand it

With enough data, the mundane becomes fascinating
Gamify
Putting customers to work for you increases engagement, improves customer perception and reduces costs

If you aren't in the game, you're not in the game
Crowdsource
Billions of new knowledge workers in the next decade

Rampant competition in nearly-perfect markets

Optimal results, at minimal costs
How the Information Tidal Wave is Driving New Business Opportunities
Christopher Surdak, JD 7 June 2014
A brontobyte is 10^30 bytes:

1,000,000,000,000,000,000,000,000,000,000

Scientists estimate that there is 10^19 grains of sand on the entire Earth:

10,000,000,000,000,000,000

That's 100 million Earth's worth of sand
Viewers of 2012 American Idol final:
23 million

Viewers of YouTube hit Annoying Orange:
50 million

per month
1. Mobility
2. Digital
Living
3. Online
Entertainment
4. e-Commerce
5. Cloud
Computing
6. Big Data
Outcome Marketplaces
Overwhelming Connectivity
Devices will far outnumber people on the Internet

They will monitor everything that we do
Cheap or Good: Pick one, or else
Sprint to Survive, Not Thrive
The Harvest
Having the data is half of the battle

If you haven't collected it, you can't analyze it
Got Job?
Data literacy will be the #1 job qualification in the coming decade
Games create compeling content, keep users coming back for more, and reveal deep-seated aspects of peoples' psyche
Better Than You Know Yourself
New Markets, New Economies
More and more of the economy will move online

This economy will be non-monetary, and not taxable
1. Polarize
2. Accelerate
3. Data-Enable
4. Quantification
5. Gamify
6. Crowdsource
SUMMARY
The Good: Instant access to what you want, before you want it
The Bad: Organizations know you better than you know yourself
CONCLUSION
The Ugly: There is no stopping this, and it's getting worse, faster
Implications for Your World
1. Education as a Lifestyle
Forget "Going to School"
School becomes a verb, rather than a noun
Continual, formal and informal education
Be a MOOC-er
Jobs in demand change radically every year
2. Keep Moving & Changing
3. Prepare to Compete
4. Small, Young Companies
Are you ready?
5. Increased Competition
6. Do Not Wait
With luck, it may not already be too late
Many of today's best jobs DID NOT EXIST 5 years ago
Adapt faster, or suffer
Millions of people want a job, YOUR job!
Full transcript