1 / 24

Innovation through Data Capitalisation

Innovation through Data Capitalisation. Joanne Jacobs Social Media Consultant Exploring Data Driven Innovation - Creative Consumer Workshop Wed 09 Mar 2011 Inspace - Edinburgh School of Informatics, Edinburgh. Image source: http://www.flickr.com/photos/inl/5097547405/. Primary argument.

sadie
Download Presentation

Innovation through Data Capitalisation

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript


  1. Innovation through Data Capitalisation Joanne Jacobs Social Media Consultant Exploring Data Driven Innovation - Creative Consumer Workshop Wed 09 Mar 2011 Inspace - Edinburgh School of Informatics, Edinburgh Joanne Jacobs: Innovation through Data Capitalisation, March 2011 Image source: http://www.flickr.com/photos/inl/5097547405/

  2. Primary argument • There is an opportunity cost of failing to make use of data. • Data should trigger action, not just be support material in reports Image sources: http://www.flickr.com/photos/alishav/4253056121/ http://commons.wikimedia.org/wiki/File:Fullquiverofarrows.jpg http://commons.wikimedia.org/wiki/File:Reloj_despertador.jpg http://commons.wikimedia.org/wiki/File:Mascherano_liverpool.JPG Joanne Jacobs: Innovation through Data Capitalisation, March 2011

  3. Value: Worth of a product/system in terms of use or in terms of market perception Collectively determined Utility: usefulness, capacity to generate positive outcomes and minimise negative outcomes Individually determined Value versus utility Joanne Jacobs: Innovation through Data Capitalisation, March 2011

  4. The maths in brief (Metcalfe’s law, etc) • Value of a network determined by number of possible connections: n2(Metcalfe’s law) • Can only have connections with other users, thus better equation is: n(n - 1)=2 (Reed’s Law) • Odlyzko says total connections doesn’t represent true value of network, nor do networks grow exponentially, thus best equation is: n log(n) (Odlyzko & Tilly’s Law) Image source: http://en.wikipedia.org/wiki/Metcalfe's_law Joanne Jacobs: Innovation through Data Capitalisation, March 2011

  5. What does all this mean? • Value of networks not directly proportional to either number of people in a network, or the amount of data collected; • Value of data more directly associated with its usefulness and perceived benefits; • Value of data can be hidden as well as acknowledged. Joanne Jacobs: Innovation through Data Capitalisation, March 2011

  6. The Value of Data • Total tangible and intangible acknowledged benefits derived from data • DOES NOT include data collected but not capitalized • DOES NOT include unacknowledged benefits, whether tangible or intangible. Image source: http://www.flickr.com/photos/thomasvdb/379546998/ Joanne Jacobs: Innovation through Data Capitalisation, March 2011

  7. The Utility of Data • Total possible interactions in a system • Supply chain databases (suppliers and customers) • Earnings per record • Risk/price of rebuilding • Customer interactions (online or in person) • Earnings per interaction • Total possible opportunities for collecting/recording data Image source: http://www.flickr.com/photos/vancouverfilmschool/5143625176/ Joanne Jacobs: Innovation through Data Capitalisation, March 2011

  8. What data is collected? • Customer databases • Supplier databases • Sales • Media profile • Website hits/interactions • Social media followers/likes/retweets • Sentiment/brand awareness → Predominantly tangible data Image source: http://www.flickr.com/photos/sixmilliondollardan/3852839454/ Joanne Jacobs: Innovation through Data Capitalisation, March 2011

  9. What additional data can be collected? • Tangible: • Content tags (for indexing content) • Resource cost per interaction (for staff costs) • Time per interaction (to understand speed of interactions) • Number of interactions (to understand increase/reduction in processing) • Intangible: • Employee happiness with/understanding of how to find information • Supply chain perceptions of efficiency • Network effects on productivity Image source: http://www.flickr.com/photos/swanksalot/2704017177/ Joanne Jacobs: Innovation through Data Capitalisation, March 2011

  10. How to capitalise on data • Map what data is collected with distinct actions • Present data in different contexts (geographical maps, timelines, heatmaps, other data visualisation techniques) • Consider what opportunities for data collection have been overlooked • Use data crunching resources for easy visualisation and insight generation. Image source: http://www.flickr.com/photos/quinnanya/5066259987/ Joanne Jacobs: Innovation through Data Capitalisation, March 2011

  11. Disruptive vs Continuous Innovation • Disruptive innovation: creates new markets that have never before existed • Continuous or transformational innovation: solve existing problems either in new or expected ways • Most innovation derived from data will be continuous/transformational Image source: http://www.flickr.com/photos/opensourceway/4371000486/ Joanne Jacobs: Innovation through Data Capitalisation, March 2011

  12. Innovation through Data Capitalisation • Most innovation driven by tinkerers, not by R&D, thus needs-driven, not research-driven • Greatest needs are based on scarcity of resources • New knowledge emerges when existing data ‘mashed together’ with other content (ie: crime maps) Image source: http://www.flickr.com/photos/aalhajji/2604740451/ Joanne Jacobs: Innovation through Data Capitalisation, March 2011

  13. Failing to use data • Much data collected never capitalized: • Insights from customer interactions in person and online • ‘Uncleaned’ databases • Unindexed, non-contextualised content • All data collected, but not capitalized = COST • All data not collected where possible = COST Image source: http://www.flickr.com/photos/fireflythegreat/2845637227/ Joanne Jacobs: Innovation through Data Capitalisation, March 2011

  14. Reports are not enough • Many organisations feel that by reporting data, they are capitalizing; this is not necessarily true • Reports of interactions for Board or stakeholders which do not result in action = COST • Reports should be presented with insights as well as a variety of scenarios for organisational behaviour change. Image source: http://www.flickr.com/photos/gadl/320300354/ Joanne Jacobs: Innovation through Data Capitalisation, March 2011

  15. Case studies • Police crime maps • Wordle on website comments/mentions • Network switching for mobile phone suppliers • YouTube: Map my summer • Fortune’s Best Companies to Work For • CO2 creation Image source: http://www.flickr.com/photos/lamenta3/2603529812/ Joanne Jacobs: Innovation through Data Capitalisation, March 2011

  16. Police crime maps Insights: Relationships between crimes in various areas – data can be indexed by socio-economic factors, etc. From: Police.uk Joanne Jacobs: Innovation through Data Capitalisation, March 2011

  17. Wordle for mentions Insights: Individuals, places, activities. From: Creative Industries Knowledge Transfer networks articles Joanne Jacobs: Innovation through Data Capitalisation, March 2011

  18. Mobile network switching Insights: Not just numbers, but patterns of change. From: Ken’s Tech tips Joanne Jacobs: Innovation through Data Capitalisation, March 2011

  19. Map my summer Insights: Awareness of the campaign, network spread. From: YouTube Map My Summer Joanne Jacobs: Innovation through Data Capitalisation, March 2011

  20. Fortune’s Best Companies to Work For Insights: Values of employees. From: CNN Money site Joanne Jacobs: Innovation through Data Capitalisation, March 2011

  21. CO2 Creation Insights: Comparison of activities or alternatives. From: General Electric data visualisation Joanne Jacobs: Innovation through Data Capitalisation, March 2011

  22. Additional Resources • MIT’s Exhibit: http://simile-widgets.org/exhibit/ • Open Heat Map: http://www.openheatmap.com/ • Google insights search: http://www.google.com/insights/search/# • Forrester customer social technographics profiling: http://www.forrester.com/empowered/tool_consumer.html • Wordle: http://www.wordle.net/ • Visualizing http://www.visualizing.org/ • Spicy nodes: http://www.spicynodes.org/ • Slatebox mindmapping: http://www.slatebox.com/Index • Bubbl.us brianstorming: https://bubbl.us/ Image source: http://www.flickr.com/photos/opensourceway/5161093829/ Joanne Jacobs: Innovation through Data Capitalisation, March 2011

  23. Social media monitoring • http://www.socialoomph.com/ • http://blogpulse.com/ • http://www.boardtracker.com/ • http://www.tinker.com/ • http://surchur.com/ • http://www.socialmention.com/ • http://www.icerocket.com/ • http://www.keotag.com/ • http://monitorthis.77elements.com/ • http://addictomatic.com/ • http://www.howsociable.com/ • http://www.monitter.com/ • http://www.postling.com/ • http://topsy.com/ • http://backtweets.com/ • http://www.backtype.com/ • http://www.twazzup.com/ • http://www.threadsy.com/ • https://www.myweboo.com/index.html?null • http://www.peerindex.net/ • http://twitalyzer.com/ • http://www.wikio.com/ • http://research.ly/ • http://www.kurrently.com/ • http://www.sensidea.com/socialseek/index.html (client based) • https://www.tribemonitor.com/ (private beta) • https://twendzpro.waggeneredstrom.com/default.aspx (free trial) • http://socialcollider.net/ Image source: http://commons.wikimedia.org/wiki/File:Fundraising_2010_social_media_monitors_logo.png Joanne Jacobs: Innovation through Data Capitalisation, March 2011

  24. Questions? Joanne Jacobs Social Media Expert Consultant Email: joanne@joannejacobs.net Blog: http://joannejacobs.net/ Twitter: joannejacobs Skype: bgsbjj Skype-in: (+44) 0208 144 9348 Mob: (+44) 07948 318 298 Joanne Jacobs: Innovation through Data Capitalisation, March 2011

More Related