Profiting from the Data Economy: Understanding the Roles of Consumers, Innovators and Regulators in a Data-Driven World (FT Press Analytics)

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9780133819779: Profiting from the Data Economy: Understanding the Roles of Consumers, Innovators and Regulators in a Data-Driven World (FT Press Analytics)

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.

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Review:

“David Schweidel's book is a highly readable and comprehensive look at the impact that the Big Data phenomenon is having on both businesses and consumers. Managers can learn the implications of the availability of more data on how to reach consumers more efficiently and effectively, while taking consumer privacy and regulatory implications into consideration. This is an important and timely book.”
—Russell Winer, William H. Joyce Professor of Marketing, Stern School of Business, New York University

"David’s book is a must-read for those wanting to turn big data into big value. First and foremost, this book recognizes that it is only through the combination of better data and statistical knowledge when coupled with business acumen that corporate and customer value can arise.”
—Eric T. Bradlow, Chairperson, Wharton Marketing Department, K.P. Chao Professor; Professor of Marketing, Statistics, and Education, Vice-Dean and Director, Wharton Doctoral Programs, Co-Director, Wharton Customer Analytics Initiative, The Wharton School of the University of Pennsylvania

“In Profiting from the Data Economy, Schweidel brilliantly and accurately coins the term ‘digital exhaust’ to label the increasing amounts of granular data society's engines generate. This book presents the innovators, regulators, and consumers who grapple with the opportunities and cautions this new resource creates, as well as the tools, techniques, players, projects, and legal issues surrounding Big Data's ecosystem. As a practitioner of the art and science of Big Data, I promise this book will engage you. If you are already involved in Big Data, this will help you understand the landscape—and if you are not, it will convince you to start paying attention. An equally important read for consumers, business, public services, and the legal profession.”
—Michael Knight, CEO, CustomerAnalytics.com

“Every business leader, every data practitioner, every teacher and student of business should read this book. David Schweidel’s account of analytics in business is both accessible and thought-provoking. It is a pragmatic introduction to the way that new levels of insights and the realities of consumer sentiments in our data-driven world shape the future of business and the economy as a whole.”
—Rasmus Wegener, Partner, Bain & Company

“The data-driven world described in Profiting from the Data Economy identifies an expanding vista for consideration by innovators and management in the modern enterprise. In this book, David Schweidel addresses how all stakeholders can benefit from new data, advances in analytics, and new interpretations of results. This engaging narrative is rich in anecdotes, analogs, and lessons-learned, and is an important read for all managers, analysts, and students of analytics.”
—Benn Konsynski, George S. Craft Distinguished University Professor of Information Systems, Goizueta Business School, Emory University

“The increasing swath of consumer-level data that is now available to firms in many industries is enabling a culture of data-driven decision-making in these organizations. This can make them more efficient and profitable. Consumers should also realize that by sharing their information with firms, they can benefit from more personalized and curated products. They need to get over their knee-jerk reaction to privacy concerns from data sharing and realize that this give and take is how the world will increasingly operate in the coming years. Said simply, users have a lot more to gain than lose from information sharing with firms. This book lays out these important issues remarkably well and is an absolute must-read for practitioners and government officials alike.”
—Anindya Ghose, Professor of IT and Professor of Marketing, and Co-Director of the Center for Business Analytics at NYU Stern School of Business

“An extremely well-written and timely book on Data Economy. It is full of case studies and quotes. I particularly liked the discussion on the role of public policy in protecting consumers from cyber threats.”
—Jagdish N. Sheth, Charles H. Kellstadt Professor of Marketing, Emory University

From the Back Cover:

“… a must-read for those wanting to turn Big Data into big value. This book recognizes that it is only through the combination of better data and statistical knowledge when coupled with business acumen that corporate and customer value can arise.”
—Eric T. Bradlow, The Wharton School of the University of Pennsylvania

“Every business leader, every data practitioner, every teacher and student of business should read this book. David Schweidel’s account of analytics in business is both accessible and thought-provoking.”
—Rasmus Wegener, Partner, Bain & Company

“Said simply, users have a lot more to gain than lose from information sharing with firms. This book lays out these important issues remarkably well and is an absolute must-read for practitioners and government officials alike.”
—Anindya Ghose, Professor of IT and Professor of Marketing, and Co-Director of the Center for Business Analytics at NYU Stern School of Business

The Profound, Unexplored Implications of Big Data for Businesses, Consumers, Innovators, and Policymakers

The insights available today through Big Data are potentially limitless—ranging from improved product recommendations and well-targeted promotions to more efficient public agencies. In Profiting from the Data Economy, cutting-edge academic researcher David Schweidel assesses the roles individual consumers, innovators, and government will play in shaping tomorrow’s data economy. For each group, the author identifies what can be gained and what is at stake.

Writing for decision-makers 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. Schweidel 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.

• Finding new business value in mountains of user data
   Way beyond demographics and traditional segmentation

• Can Big Data protect and serve?
   Innovative ways to leverage data in public safety and throughout government

• Understanding the public’s fast-shifting views of privacy
   Responding to seismic recent shifts in public opinion on privacy

• Striking a new balance
   The future of data—from your home to your health

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