Category Archives: Advertising

Big Data Conversion Chart & Functional Relevance

A Petabyte is a lot of data, not a generic bite from your pets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

My favorite quotes from this post are:

“Data has no inherent value. To be useful, data must flow to agents who will ultimately process, analyze, and synthesize it to produce information that drives decisions. The recent conversation in DoD has focused on what is referred to as the “big data problem,” that is, since we don’t know what’s important in the data being collected, everything must be saved. But this is much harder than it sounds.”

“Data is not important. It’s the information that can be gleaned from the data that matters. The old data paradigm emphasizes precision: save only what you consider to be relevant at the time the data is collected. This approach works only so long as you are dealing with a more or less static context where “relevance” can be readily established.”

Relevance is not an attribute. It’s a relationship, or a complex mapping that has sources, targets, and attribute values on the link. Consider this abstract function:

Relevance = F(source, content, context; me, my role, my situation, my company; the environment and set of competitors and space of potential actions).

Because of these considerations, you can see why relevance is elusive and non-comparable across markets, uses, and situations. THerefore aggregate sums and statistics on relevance are even more problematic.

Source: http://edgefighter.com/2012/01/16/choke-points-in-the-data-supply-chain/

Crowdsourcing and co-creation

This is nice graphic that explains some relationship across co-creation and crowdsourcing. Interestingly, the social media notion of UGC (user generated content) could be labeled “crowd generated content” and find its way into this umbrella. Co-creation is a great way to develop mutually beneficial relationships between brands and consumers. Engaging in consumer co-creation establishes an ecosystem that encourages interaction. Through these interactions, businesses are able to gain valuable insights, of which can be applied to various aspects of the business- be it for product development, marketing or communication strategies (Source: http://en.eyeka.net)

 

Infographic source: http://dailycrowdsource.com/intl/crowdsourcing-taxonomy/

 

Crowdsourcing Umbrella infographic
Crowdsourcing Umbrella infographic

War of the Tentacles: Connection between Engagement, Ease of Use, and Stickiness

I was using Songkick.com today, to add artist concert tracking to my profile. I noticed the variety of ways the site uses to display related artists you “may also want to track”. This reminded me of two “related” features of web sites: Amazon’s famous related product recommendation engine, and the Facebook social plugin options for extended into your web pages. The word Tentacles now pops into my head, and sure enough it is also discussed that way elsewhere:


How facebook is slowly creeping its tentacles all over your web


Obviously huge topic, but to summarize in short form:

Engagement means interesting, captivating, and induces actions and exploration on the part of the [website] user.

Ease of Use means actions are visible and marked in a way that desired goals are easily obtained by minimum number of clicks.

Stickiness means that the more a user (customer) uses the product, the more dependent they become on it, leading to audience growth, usage per person growth, and lack of churn (customers leaving the product or service).


So with Songkick, remember the more artists you track, and more work you do refining the desired list, the more “invested you are in the platform” and the data they store in your profile is more personalized. Its “seems” good for you, increases your loyalty and dedication and possibly usage. Its good for them, because its less likely that you would ever leave for any other service or competitor. And there will be some more…. To over simplify, I offer this conceptual equation.


Stickiness = Ease of Use + Engagement + Profile Depth Functionality (PDF)


Where in this case, PDF means the ability to connect to other people, artists, events, groups, anything that builds structure or data about your interests, desires, preferences.

Wikipedia Defines Sticky Content here

The interest question is: What if there was a platform called “portable connection”; that delivered the meta data of your past platforms (e.g. Myspace and Facebook) to some new platform (e.g. Tumblr)?

My daughter is already bored with Facebook, and is now extolling the virtues of tumblr.com. Its interesting to see how children can demo the these social platforms in middle school to each other and cause “adoption without commission”…As any platform grows and its feature set becomes less disruptive and its ad content becomes more disruptive, it paves the way for the next generation.

–Chris