don't usually go for trendwatching but some of these link to interesting tools/startups/services
Big Data seems to be the latest bangwagon about personal data and business. McKinsey has already written a report about how important it is, so that's now going to be the framework most business exec will apply to this area. Well, no surprises there.
Marketers' demand for detailed information about individuals is at an all-time high. In the past three years, the personal-data business has exploded, with hundreds of companies tracking online behavior.
As a result, basic information about Internet users—gender, age, location, income and interests—is now a commodity, ad executives say. So, to gain a competitive edge, companies are assembling more detailed profiles about people that can include thousands of data points ranging from political interests to marital status. Recently, one online-dating service was found sending information about its users' "drug use frequency" to an online-tracking company.
this may be the realise of the online marketing but that doesn't make it right. to argue that personalisation is a fair price for customer data implies an agreement by the customer somehow. I don't have much choice and opting out is hard, so this is not a fair exchange.
In 2011, Facebook will likely amass $3.8 billion in global ad revenues, predicts digital intelligence firm eMarketer. The social media giant now gathers data from more than 800 million active users who post in 70 languages. And search giant Google, which pulled in $9.72 billion in advertising revenues in the third quarter alone, makes 96% of its revenues from advertising. In regulatory filings, Google attributes its healthy profit to "the relevance and quality of both our search results and the advertisements displayed."
seems like a wonderful and disruptive idea. Love it!
this is great!
misunderstands the value of data as opposed to price for data. Also, direct market in personal data unlikely, currently personal data is an externality to some other transaction or exchange of value.
A challenge for the company will be whether it can offer enough money to persuade people to use the system. Consumer information is worth billions in aggregate, but individually, the bits of data are worth practically nothing. A study by JPMorgan Chase last year showed that a unique user was worth $4 to Facebook and $24 to Google. Others looked at Facebook’s recent filings with the Securities and Exchange Commission and placed the value of a user as high as $120.
recommended by Kaliya
this is someone pushed by William, read to understand where the wind is blowing from...
how your data can be used against you. interesting if not surprising. This is why owning my data is essential