Hosted by the innovation warehouse.
Speaker : Rich Radka, Claro Partners @claropartners
Synthesising trends into opportunities.
The connection between data and the Internet of things.
Social science, experience design and business strategy intersection.
Are things a business or just an interesting idea?
Disruptive shifts, business innovation and service design.
Changing models of ownership
Participatory service networks
The personal data economy
The Internet of things
Every time we interact, communicate, access, share, recommend, download and record. We cast a digital shadow of our activities.
Businesses are collecting and stockpiling personal data, convinced that bigger is better this is resulting in the BIG data boom.
At the same time people are becoming increasingly aware of the personal data they generate and are demanding more control and transparency to extract the value from it themselves.
Experimental landscapes are evolving around personal data and creating affinity maps.
Look at what is going on out there and paying attention.
How to extract the value?
Five big misconceptions about the value of data
#1 personal data is the new oil
Unlike oil, it’s not a finite resource. It’s not swappable. It’s unique to a person. It’s not a commodity.
Reality : my personal data is most valuable to me! Put it back into the context of its creation after its collected. Significant and individual experiences.
#2 personal data is all about privacy
Private/confidential/public but still personal.
Multiple control and single control are opposite ends of a problem that sits in the middle.
Reality : People want to benefit from their data – not hide it away – but they need control, trust and transparency. Digital natives are more aware of this than older.
#3 the value of the personal data is in its sale
Reality : the personal data economy is an experience economy.
#4 personal data is only for data scientists.
Reality : personal data empowers people. Quantifiable self.
#5 personal data is big data
Reality : the personal data economy is based on little data.
Data centric approach vs the people centric approach. The latter is the correct once. Relate to the clients problem. Develop a service and then identity the specific data to match what the service can offer the client.
1 start with person and not the data
2 enable people to do things they have never been able to do before
3 address both functional and emotional needs
4 think beyond privacy. Create trust, transparency and control
5 design the whole user experience (time bombed data. Snapchat)
Personal data economy emerging business landscape :
Simple – banking view
Patients like me – chronic illness patients supporting each other
Ginger.io – health predictions
Jawbone – self tracking
Cosm – Internet of things
Connect.me – identity management, reputation transfer
The internet of things is about the Internet expanding into the physical world – Florian Michahelles
Building IQ – cloud based building sensor solution
Market size of IoT is liking predicting plastics in 1940
AR – nearest wiki, par works mars, snapshop
Mobile as sensor
BJ Fogg – http://www.bjfogg.com/
“The people formally known as consumers” empowered consumers becoming makers and producers.
In the future we predict that connection will be a given.
True IoT products should be multipurpose and networked.
Tethering = Intranet of things. Separate ecosystem as opposed to co joined.
“The product enables a bi directional conversation between manufacturer and consumer”
“If products are traceable all the time, then leasing makes more sense than ownership as a business model”
The connectivity needs and expectations of people are evolving.
Business model of a company who switched based on data rolls royce http://professor-murmann.info/index.php/weblog/fullarticle_courses/290/