“The fear isn’t that big data discriminates. We already know that it does. It’s that you don’t know if you’ve been discriminated against.”
Daily Fast Feed Roundup
Hello Tumblr! Here’s a quick rundown of what you need to know today:
- Michelle Obama and the White House just joined Instagram. We’ll see if they can rock the web as hard as Hillary Clinton did with her awesome Twitter bio.
- Asia’s first 3-D printed fashion show was a big hit.
- An 18-year old Icelandic WikiLeaks volunteer made about $5,000 working as a paid FBI informant.
- Here’s a video pitch for Atlantis … a virtual black market for drugs.
- The environmental blog Grist created a crowdsourced Google map of America’s natural disasters.
- A new study has found that mobile ads are what’s killing your phone’s battery power.
- Facebook has fixed a bug that let hackers hijack accounts via SMS text message.
- A study found that big data offers the travel industry many amazing opportunities for growth but that major brands are not taking advantage of these benefits.
- Taco Bell has launched a “Protein Power” menu, which will be loaded with extra meat. Yum?
“Many of these people have been on our radar for years," says Chayes of the new hires. "We’ve been trying to find people who do computational social science. There are very few people in the world who do this research, but it’s an area that’s really taking off.”
This year will be the year of Big Data. The Data Warehousing Institute (TDWI) reported that 90 percent of the IT professionals it surveyed said they were familiar with big data analytics. And 34 percent said they already applied analytics to Big Data. The vast hordes of data collection during e-commerce transactions, from loyalty programs, employment records, supply chain and ERP systems are, or are about to get, cozy. Uncomfortably cozy.
FC: Big data is also why you have faith in Groupon
RH: Yes. There’s two points on which a lot of the discussion about Groupon misses key insights. First is what exists with Groupon today: both scale and data. Data becomes important because of the scale. If you look at the core service that Groupon built on, it’s: Here are some offers that may motivate you to act today. That’s interesting enough for you to plunk down the money.
As the activity in this space gets denser, it becomes important for [deals companies] to maintain their value proposition, both for the merchant and the consumer, and to be able to match the right two. The ability to do that kind of matching, off the data, is the kind of thing that has a robust, at-scale, defensible value proposition and makes it harder for other people to offer products that are as good.
I also think people discount Groupon’s ability to build new value propositions. Groupon launched Groupon Now. An ability to raise my mobile phone and say there’s a 20 percent off offer two blocks from you in the next hour is actually pretty useful. And that’s a value of scale.