Andreas S. Weigend, Ph.D.

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University of California at Berkeley
Haas School of Business
Sunday April 6, 2008 (9am - 6pm): Haas S480
Sunday April 27, 2008 (9am - 6pm): Haas S480

Marketing in Web 2.0: The New Data Revolution

COURSE NUMBER: MBA/EWMBA 267.4 (1 unit course)

INSTRUCTOR: Andreas Weigend

PREREQUISITES: An open mind and genuine interest to explore consequences and opportunities for Marketing in Web2.0 and the New Data Revolution

FORMAT: Lectures and break-out sessions with active student participation

WEB PAGE: http://weigend.com/teaching/berkeley
READINGS and other MATERIALS: http://weigend.com/files/teaching/berkeley
WIKI: http://berkeley2008.wikispaces.com/berkeley2008.wikispaces.com

BASIS FOR FINAL GRADE: Participation and active contribution to class (70%), as well as results of team exercises (30%).

COURSE CONTENT: This one-unit course explores the new profound possibilities for customer centric marketing in the Web 2.0 era. We move away from traditional customer segmentation and clustering and address the individual as individual and as member social networks. This shift has been enabled by quantitatively and qualitatively new data companies are collecting on individuals, as well as new communication platforms of interaction companies can use to reach out to individuals. On these platforms, individuals have also been empowered and incentivized to generate and disseminate information, in turn fueling the expectations that they be treated as the individuals they are.
Web1.0 collected data to cut costs and help optimize business processes. Web2.0 has enabled a New Data Revolution. Whether intentionally (e.g., as blog posting) or unintentionally (e.g., as Facebook feed), whether explicitly or implicitly, users are contributing a wide variety of both quantitative and qualitative data, including transactions, intentions, social relations, sentiment, attention gestures, location and much more. With these previously unavailable data, companies now have incredible opportunities to create new technologies to innovative services. Social recommendations and behavioral targeting are examples of recent usage of these forms of data. What are the implications for new business models, products and services? What are the insights and intuitions about what will work in practice? And what are the risks?
Along with this data revolution and the empowerment of the individual, a new type of customer is on the rise, having strong expectations of relationships with companies towards transparency and accountability on the side of the company. The new consumers demand truthful conversations instead of one-way PR messages. They are keenly aware of the value of the data they are providing, and expect highly individualized services and qualitatively new features.
Companies need to dramatically adjust their marketing strategies: Visionary companies will fully embrace these new data and communication possibilities to engage and genuinely understand their customers, treating them as individuals, making each and every one a potential trusted partner, thus adding unprecedented value to both sides.

COURSE OUTLINE:

Day 1 morning

Review of the Digital Networked Economy: Underlying principles, consequences and opportunities for truly customer-centric firms
The Previous Data Revolution (Web1): Purchase data, click data, etc. Search engines as platforms for monetizing intention data (e.g., Google).

Day 1 afternoon

The New Data Revolution (Web2): User contributed data: Platforms for generating, sharing, and aggregating data, and for creating relationship data by interacting with other users (e.g., MySpace, Facebook).
Economics of Data (housing, jobs). Reputation, identity, privacy (trade-offs).

Day 2 morning

Recommender systems 1.0 and 2.0 for products.
Behavioral targeting 1.0 and 2.0 for brands.

Day 2 afternoon

The New Consumer Revolution: Expectations, opportunities and risks.
Markets and Marketing as Conversation.

BIOGRAPHICAL SKETCH:
Dr. Andreas Weigend was the chief scientist of Amazon.com where he helped create a customer-centric, measurement-focused culture. He now works with exciting startups and visionary multinationals, leveraging the principles of the new consumer data revolution for product innovation and new business models. Examples include MySpace (leveraging the social graph for marketing and advertising), Alibaba (coaching the company towards a data-focused organization), Lufthansa (designing key innovative features for their new frequent flier program), and Nokia (both product innovation and education, helping the company navigate this new world of unprecedented amounts of data).

Being highly passionate about innovation in the digital networked economy, Andreas works with innovative startups. Recent successful exits include Agoda (acquired by Priceline) and the technology company Cleverset (acquired by ATG). Andreas is a limited partner in San Francisco-based Founders Fund, helping the venture capital firm with deal flow and investment decisions.

Andreas started as a physicist (Stanford PhD) analyzing and explaining the traces of elementary particles. He then turned to the traces of traders on Wall Street (as Associate Professor at NYU’s Stern School of Business), and subsequently to the traces of users on the web. He has published more than 100 scientific papers, and shares his insights at Berkeley (Marketing in Web2.0), Stanford (Data Mining and Electronic Business) and at Tsinghua/INSEAD (The Digital Networked Economy).

Andreas lives in San Francisco, Shanghai, and on weigend.com.

:Stanford:

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Where I teach

Stanford (Stat/MS&E)
Spring 2008 course wiki Berkeley (Haas, Marketing MBA)
Apr 2008 course wiki Tsinghua/INSEAD (EMBA) Mar 2008