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Data Crush for UPenn
Transcript of Data Crush for UPenn
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
As of 2012, more humans have cell phones than toothbrushes
In 2012, users spent approximately 10 billion minutes on Facebook
At the Federal minimum wage
of $7.25/hr, this is
in lost economic
users on Facebook
7.7 billion minutes
spent on Facebook each year
100 hours of video
uploaded to YouTube
400 million tweets per day
40 million new pictures per day
Amazon: The Beast
Irrelevance of Brick and Mortar
The "Dumbbell Effect"
Revenues from Physical Music:
year over year since 1999
Revenues from Digital Downloads:
year over year since 1999
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"
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
Understanding and reinforcing our place in the world
Deep intimacy, on display to the whole world
The power of 'like'
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
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
Expectation of Instant Gratification
Ubiquitous access to limitless options
Perfect market efficiency for customers
Anything you need, any way you need, any when you need
All objects in our lives intelligent, connected and helpful...
... and watching everything we do all of the time
The Dumb Bell Effect: Pick an end, there is no middle
Cut the cycle time of EVERY business process in half, every 12-18 months
Measure absolutely EVERYTHING
Collect immediately, even if you don't know why
10x more accuracy than you think you need is a good start
Once you have it, you must understand it
With enough data, the mundane becomes fascinating
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
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:
Scientists estimate that there is 10^19 grains of sand on the entire Earth:
That's 100 million Earth's worth of sand
Viewers of 2012 American Idol final:
Viewers of YouTube hit Annoying Orange:
6. Big Data
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
Having the data is half of the battle
If you haven't collected it, you can't analyze it
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
The Good: Instant access to what you want, before you want it
The Bad: Organizations know you better than you know yourself
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!