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

Book Description

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.

Table of Contents

  1. About This eBook
  2. Title Page
  3. Copyright Page
  4. Praise for Profiting from the Data Economy
  5. Dedication Page
  6. Contents-at-a-Glance
  7. Contents
  8. Acknowledgments
  9. About the Author
  10. Foreword: The Personalized and the Personal
  11. Preface
  12. 1. Beyond Big Data
    1. Searching for the Next Generation of Quants
    2. From Big Data’s Past to Its Future
    3. Characterizing Big Data
    4. Is Big Data a Strategy?
    5. Data Versus Insights
    6. Data and Value
    7. Value for Value
    8. Endnotes
  13. 2. Building Businesses
    1. Back to Marketing Basics
    2. Putting Marketing Analytics to Use
    3. Internet-Based Businesses: Is Content or Context King?
    4. Social (Marketing) Networks
    5. Common Ground
    6. Discussion Questions: How Do We Reveal Ourselves Online?
    7. Endnotes
  14. 3. Refining Practice
    1. Old Media? New Media? Just Media
    2. Better Data, Better Ad Targeting
    3. Old Media Meets New Media
    4. What’s Your Life Worth?
    5. Timing’s Everything
    6. You’re Where?
    7. Discussion Questions: Reaching Today’s Consumer
    8. Endnotes
  15. 4. Improving Public Service
    1. Can Data Protect and Serve?
    2. Big Findings in Public Data
    3. Quality Trumps Quantity
    4. Compiling Data to Inform the Public
    5. Consumers and Providers of Data
    6. Discussion Questions: Data Science for Social Good
    7. Endnotes
  16. 5. Today’s Data Economy
    1. The Groundwork
    2. The Current Exchange
    3. The Foundation of the Data Economy: Customer-Centric Marketing
    4. Customer-Centric Investments in Data
    5. Discussion Questions: The Collaborative Consumer
    6. Endnotes
  17. 6. Cracks in the Foundation of the Data Economy
    1. Privacy in Customer Data
    2. Learning Who Your Customers Are
    3. Why Marketers Need to Engage in the Debate
    4. Transparent Practices, Informed Customers
    5. Sharing the Value of Data
    6. My Actions, My Data?
    7. Discussion Questions: The Hierarchy of Personal Data
    8. Endnotes
  18. 7. Harbingers of Change
    1. Demand-Based Pricing
    2. The Consumer Highway to Hell?
    3. Benefiting from Price Discrimination
    4. Consumers’ Comfort with Leveraging the Data Exhaust
    5. Discussion Questions: Valuing Consumer Data
    6. Endnotes
  19. 8. In Need of Oversight?
    1. Valuing Consumer Privacy
    2. Profiling by Association
    3. Data Sharing Free-for-All
    4. Consumer Data, But at What Cost?
    5. Data-Driven Discrimination
    6. Socially Acceptable Segmentation?
    7. Discussion Questions: Protecting Consumers Throughout the Data Value Chain
    8. Endnotes
  20. 9. The Race for Resources
    1. Want Consumer Data? Pay to Play
    2. Exchanging Products and Services for Consumer Data
    3. Data Acquisition Free-for-All
    4. Empowering and Informing Consumers
    5. Reshaping the Media Landscape
    6. Consumer Data as a Financial Asset
    7. Do We Need Regulators in the Data Economy?
    8. Education as Part of Data Regulation?
    9. Can Consumer Control Ensure Competition?
    10. Discussion Questions: Empowering Consumers to Regulate Access to Personal Data
    11. Endnotes
  21. 10. What’s Next for the Data Economy?
    1. Moving Beyond Double Jeopardy
    2. The Changing Face of Innovation
    3. Can Consumer Data Contribute to Competition?
    4. Smarter Practice, but How Far Is Too Far?
    5. The Cost of Data-Driven Innovation
    6. An Appropriate Role for Government?
    7. A Right to Digital Privacy?
    8. Endnotes
  22. Afterword
  23. Index