Big Data Flashcards
Secretary of Treasury Statement
Summers
Data is to the 21st century what oil was in the 20th - a hugely valuable asset essential to economic life and often a source of conflict
what does big data analysis do
reveals patterns and connections to vastly improve many human activities but will also create many detailed profiles for all of us and possibly intrude on privacy
recommendation engines
familiar impact of big data on marketing - make purchase suggestions based on prior interests as compared to millions of others
types of big data
Predictive: what might happen
prescriptive: what should happen
diagnostic: what happened & why
descriptive: what is happening now
social listening def
sometimes called psychometrics - measures psychological traits to assess the kind of person they are targeting
risks of data
New York Times 2012
huge data sets that are being sorted with sense making technology can lead to false conclusions
also if looked at by closed-minded managers they could look at it for self-affirmation of preciously held beliefs
qual to quant?
Boyd and Crawford 2012
big data is shifting the definition of knowledge from qual to quant but:
numbers don’t isolate the reasons why people do things
researchers have to subjectively interpret data
taken out of context the data can lose its meaning
data access risk
Boyd and Crawford 2012
there is limited data access - the data economy - data monopolies forming Facebook and WhatsApp and Instagram etc
ethics
Boyd and Crawford 2012
accessibility does not equal ethics and it can become invasive
social media listening
social media listening
pulling info from customers and actively incorporating this info into value chain and creating an internal task force or use external providers to listen and monitor
data to study virality
berger and milkman 2012
managed to study 8k NYT articles and came to the very useful conclusion that the content that evokes more anger/humour is likely to go viral
House of Cards Ex
netflix ran the numbers and knew it would be a hit before they ever shouted action
that director, films involving Kevin Spacey do well, british version was success
Ethics of Data Target
Target collects demographics and each customer gets a guest ID and has historical buying data on them all (with address)
noticed when women started biting scent-free soap, cotton balls, etc could be close to delivery date
using 25 products can assign pregnancy prediction score and estimate due date
began sending coupons timed to specific stages of pregnancy
Dad of 15 year old girl came to target and demanded to chat to manager and wanted to know why he was getting these coupons - turned out that his daughter was pregnant and knew before anyone else
social listening Morton’s steakhouse
customer tweeted requesting dinner be sent to Newark airport where he would be arriving after work
Steakhouse saw that he was a frequent customer and pulled data n what he typically ordered and figured out which flight he was on
sent tuxedo clad deliveryman to serve him dinner
whole thing went viral and was a PR stunt
is your company even capable of this???
Data Cambridge Analytica
The MypPersonality App
fill out questionnaires that measured your personality trains and you received a profile and can opt-in to share Facebook profile data with researcher
went viral through sharing and suddenly had largest dataset of Facebook profiles ever collected
70 likes - outdo what friends knew
150 - outdo what parents knew
could predict skin color, sexual orientation, political affinity
Used for Brexit and Trump - low cost and target the people you need on social media!!!!
