Using Big Data to Reveal Consumer Values and Inform Storytelling
1 like636 views
The document discusses the use of big data to reveal consumer values and inform storytelling, emphasizing the importance of connectivity in data analysis for better precision and prediction. It highlights the differences between tangible and intangible values, suggesting that consumers prioritize experiences over goods. Additionally, it introduces Ranker as a data company that aggregates consumer preferences and values through crowdsourced information and lists.
Using Big Data to Reveal Consumer Values and Inform Storytelling
- 1. SESSION PARTNER Using Big D to ata Reveal Consumer V alues and Inform Storytelling VISIONARY SPONSORS INNOVATOR SPONSORS TA A O T U # LK B U S! FUTUREM # CA A SO ILV LUES @ RaviD ataIyer
- 2. Talk Overview - Using Big Data - Revealing Consumer Values - Informing Storytelling
- 3. Talk Overview - Using Big Data - Revealing Consumer Values - Informing Storytelling
- 4. How we do things - Data
- 5. What is Big Data?
- 6. Big Data is a function of... Number of Observations? Disk Space Taken up by Data?
- 7. Size Matters to Engineers
- 8. Big Data is a function of... Number of Observations? Disk Space Taken up by Data? Connectivity!
- 13. Connectivity Matters Because.... Algorithms generally do similar things.
- 14. Connectivity Matters Because.... Algorithms generally do similar things. More of the same type of data usually gives you more precision, not more prediction.
- 15. Algorithms and # of observations only get you so far.
- 16. Connectivity Matters Because.... Algorithms generally do similar things. More of the same type of data usually gives you more precision, not more prediction. Connectivity reduces error.
- 18. Connectivity Matters Because.... Algorithms generally do similar things. More of the same type of data usually gives you more precision, not more prediction. Connectivity reduces error. Connectivity allows you to predict more variance for longer periods by providing depth to one's measurement.
- 20. Talk Overview - Using Big Data - Revealing Consumer Values - Informing Storytelling
- 21. Why we do things
- 23. Why we do things
- 25. Serving Psychological, not Physical Needs
- 26. Serving Psychological, not Physical Needs
- 28. Values in the marketplace of ideas
- 29. Values != Liberal Values
- 31. There is a gap between what we care about how we use data Tangible Things What we analyze: - Demographics - Purchasing behavior - Financial Markets - Baseball Outcomes Intangible Things What we care about: - Living our values - Being fulfilled - Living a meaningful life - Being happy
- 36. How do you measure values? I spend my money on experiences, not goods. How much do I value Stimulation? 10/17/13
- 37. How do you measure values? I spend my money on experiences, not goods. How much do I value Stimulation? 10/17/13 error
- 38. How do you measure values? I spend my money on experiences, not goods. How much do I value Stimulation? error I travel a lot. error I eat at diverse restaurants. 10/17/13 error
- 39. How do you measure values? I spend my money on experiences, not goods. I value Stimulation! I travel a lot. I eat at diverse restaurants. 10/17/13
- 40. Ranker is a Data Company To consumers, Ranker is a “Yelp for Everything Else” Engaging Gamification Hook 15% of visitors to page vote on an average 10 items/list. Rankings Are Built By The Crowd Users are entertained and informed - people love lists - but at its core, Ranker is a consumer data aggregation machine.
- 41. Ranker’s Data Production Engine Ranker ingests semantic“big data” (14MM+ objects)… …into platform for user-and-system generated lists Producing crowdsourced answers to 1000s of questions that previously had none Facts Lists Proprietary Rankings Freebase Factual •The Scariest Diseases •The Best Inexpensive Cars Wikipedia Any semantic data source Visitors engage w/ 15% interaction Opinions Output: Opinion Graph “People who think Priuses are a good value worry more than average about heart disease”
- 44. Values & What You Eat
- 45. Discovering Deeper Motivations Breaking Bad The Nissan 370Z appeals to people who like being different and are non-conformist. error Arrested Development error It’s Always Sunny in Philadelphia error
- 46. Discovering Deeper Motivations Breaking Bad The Nissan 370Z appeals to people who like being different and are non-conformist. error Arrested Development error It’s Always Sunny in Philadelphia error
- 47. Talk Overview - Using Big Data - Revealing Consumer Values - Informing Storytelling
- 52. The Social Values Project: Values, Social Media & Storytelling
- 54. Correlations with Schwartz Values Prestige Seeking = Power (.67) + Achievement (.46) Freedom Seeking = Self-Direction (.56) Tradition Seeking = Tradition (.50) + Conformity(.58) Pleasure Seeking = Hedonism (.54) + Stimulation (.54) Purpose Seeking = Universality (.56) + Benevolence (.51) Security Seeking = Security (.58) + Benevolence (.47)
- 55. ValueBase …where we leverage data that predicts a consumer’s values…. ValueBase
- 56. ValueBase …to predict what matters to your business. What people eat What stories people read ValueBase What people buy Where people want to live
- 57. Values & What You Buy
- 58. Values & Where You Want to Live
- 59. Values & What You Eat
- 62. Narrative Ads work better. (Edson Escalas, 2007)
- 63. Preliminary Results 25 20 15 Open Rate Clickthrough 10 5 0 Tips for Great Skin You Let the Dogs Out
- 64. Talk Overview - Using Big Data - Revealing Consumer Values - Informing Storytelling
- 65. Looking for Beta Testers - - - - Analyzing current communications strategies from a values perspective. Values surveys of current customer base. Identifying new opportunities for values based marketing. Developing new communications strategies. A-B Testing of Values Messaging