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Profiting from the Data Economy: Understanding the Roles of Consumers, Innovators and Regulators in a Data-Driven World

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Profiting from the Data Economy: Understanding the Roles of Consumers, Innovators and Regulators in a Data-Driven World

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  • Copyright 2015
  • Dimensions: 6" x 9"
  • Edition: 1st
  • eBook (Watermarked)
  • ISBN-10: 0-13-381986-8
  • ISBN-13: 978-0-13-381986-1

Today, the insights available through "big data" are potentially limitless – ranging from improved product recommendations and more well-targeted promotions to more efficient public agencies. In Profiting From the Data Economy, cutting-edge academic researcher, David Schweidel, considers the role that individual consumers, innovators and government will play in shaping tomorrow's data economy. For each group, the author identifies both what can be gained and what is at stake. Writing for decision-makers, strategists, and stakeholders of all kinds, he reveals how today's data explosion will affect consumers' relationships with businesses, and the roles government may play in the process. The book puts you in the shoes of individuals generating data, innovators seeking to capitalize on it, and regulators seeking to protect consumers – and shows how all these roles will be increasingly interconnected in the future. For analytics executives; senior managers; CIOs, CEOs, CMOs; marketing specialists, and analysts; and consultants involved with Big Data, marketing, customer privacy, or related issues. This guide will also be valuable in many business analytics, digital marketing, and social media courses and academic programs.

Sample Content

Table of Contents

   Foreword     xiv
   Preface     xvii
Chapter 1  Beyond Big Data     1
   Searching for the Next Generation of Quants     2
   From Big Data’s Past to Its Future     5
   Characterizing Big Data     6
   Is Big Data a Strategy?     9
   Data Versus Insights     10
   Data and Value     12
   Value for Value     16
   Endnotes     20
Chapter 2  Building Businesses     23
   Back to Marketing Basics      23
   Putting Marketing Analytics to Use     27
   Internet-Based Businesses: Is Content or Context King?     32
   Social (Marketing) Networks     38
   Common Ground     44
   Discussion Questions: How Do We Reveal Ourselves Online?     45
   Endnotes     46
Chapter 3  Refining Practice     51
   Old Media? New Media? Just Media     52
   Better Data, Better Ad Targeting     57
   Old Media Meets New Media     59
   What’s Your Life Worth?     64
   Timing’s Everything     66
   You’re Where?     69
   Discussion Questions: Reaching Today’s Consumer     71
   Endnotes     72
Chapter 4  Improving Public Service     77
   Can Data Protect and Serve?     78
   Big Findings in Public Data     80
   Quality Trumps Quantity     83
   Compiling Data to Inform the Public     88
   Consumers and Providers of Data     90
   Discussion Questions: Data Science for Social Good     92
   Endnotes     93
Chapter 5  Today’s Data Economy    97
   The Groundwork     97
   The Current Exchange     100
   The Foundation of the Data Economy: Customer-Centric Marketing     108
   Customer-Centric Investments in Data     114
   Discussion Questions: The Collaborative Consumer     118
   Endnotes     119
Chapter 6  Cracks in the Foundation of the Data Economy     123
   Privacy in Customer Data     125
   Learning Who Your Customers Are     127
   Why Marketers Need to Engage in the Debate     130
   Transparent Practices, Informed Customers     135
   Sharing the Value of Data     140
   My Actions, My Data?     141
   Discussion Questions: The Hierarchy of Personal Data     144
   Endnotes     146
Chapter 7  Harbingers of Change     151
   Demand-Based Pricing     151
   The Consumer Highway to Hell?     156
   Benefiting from Price Discrimination     160
   Consumers’ Comfort with Leveraging the Data Exhaust     163
   Discussion Questions: Valuing Consumer Data     169
   Endnotes     170
Chapter 8  In Need of Oversight?     173
   Valuing Consumer Privacy     173
   Profiling by Association     176
   Data Sharing Free-for-All     180
   Consumer Data, But at What Cost?     185
   Data-Driven Discrimination     189
   Socially Acceptable Segmentation?     192
   Discussion Questions: Protecting Consumers Throughout the Data Value Chain     196
   Endnotes     197
Chapter 9  The Race for Resource     203
   Want Consumer Data? Pay to Play     203
   Exchanging Products and Services for Consumer Data     205
   Data Acquisition Free-for-All     208
   Empowering and Informing Consumers     211
   Reshaping the Media Landscape     214
   Consumer Data as a Financial Asset     218
   Do We Need Regulators in the Data Economy?     220
   Education as Part of Data Regulation?     224
   Can Consumer Control Ensure Competition?     227
   Discussion Questions: Empowering Consumers to Regulate Access to Personal Data     228
   Endnotes     229
Chapter 10  What’s Next for the Data Economy?     235
   Moving Beyond Double Jeopardy     235
   The Changing Face of Innovation     237
   Can Consumer Data Contribute to Competition?     239
   Smarter Practice, but How Far Is Too Far?     241
   The Cost of Data-Driven Innovation     .244
   An Appropriate Role for Government?     246
   A Right to Digital Privacy?     249
   Endnotes     252
Afterword     257
Index     259

The profound and unexplored implications of big data for companies, consumers, innovators, and regulators


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