BIG DATA COME NUOVO MOTORE DI SVILUPPO: VERSO L ECONOMIA DEI DATI Roberto Masiero Co-Founder& Managing Director, The Innovation Group Roma, Big Data Analytics Conference 2013
The Industrial Economy Creation of Economic Value Goods Consumers Businesses Government 2
Service Economy Creation of Economic Value Goods Services Consumers Business Government 3
Data-Driven Economy Creation of Economic Value Goods Services Data Consumers Business Government 4
La produzione di dati crea Valore Economico Dunque: la produzionee l usodeidatista diventandounacomponente fondamentaledellacreazionedi valoreeconomico, propriocome la produzionee l usodi benie servizi 5
Data-Driven Value Creation Provision of data to customers i.e. Facebook, health-related information Enterprise investment in data i.e. marketing databases, genomic databases Government acquisition and provision of data i.e. GPS tracking Cross-border trade in data 6
Data is Different. Goods Services Data Tangible Can be stored Consumption is usually separated from production Intangible Cannot easily be stored Consumption often happens atthe same moment as production Intangible Can be easily stored Consumption is usually separated From production 7
Services vs Data In fact, we are increasingly seeing traditional services transformed into data-driven activities, with very different characteristics. One example is retailing. Traditional retailing involved and still involves a large number of low-skilled workers personally stocking shelves and ringing up sales to customers. By contrast, online retailing, as practiced by Amazon and others, requires far fewer workers. The ordering process is typically handled electronically, and even the distribution warehouses are on the way to becoming automated as well. ( Michael Mandel) 8
And Measuring Data-Driven Value Creation is Hard Not easy to assign monetary values to data flows Value of the database depends on quality of analytic tools Not easy to unbundle data from goods and services Data flows in both directions Users of Facebook are providing information to marketers 9
Unmeasured data consumption Apps Email Games Mapsand navigation Search (Apple, Google, Amazon, RIM, Microsoft, Facebook) (Google, Yahoo, Microsoft, AOL, Facebook) (Zynga, PerBlue) (Google, Microsoft, Apple, Mapquest, Yahoo) (Google, Microsoft, DuckDuckGo, Blekko) Social media (Facebook, Twitter, LinkedIn, Pinterest, Foursquare) Storage (Dropbox, Google, Apple, Amazon) Transmission (AT&T, Verizon, T-Mobile, Comcast, Sprint, Time-Warner Cable) Video (Youtube, Vimeo, Hulu, Netflix, Amazon, itunes) 10
Unmeasured investment in Data Genomic databases Financial databases Social media databases Consumer transaction databases Health transaction databases Climate databases (National Center for Biotechnology Information, Ensembl, MaizeDB) (Bloomberg, Thomson, CRSP, Global Financial Data) (Facebook, Twitter) (Amazon, Wal-Mart, MasterCard, Visa, American Express) (CVS Caremark) (National Climatic Data Center, European Climate Assessment& Dataset) 11
Real consumer spending on Data Services (as Meansured By The Bea) Change in real consumer spending 2001 IV -2012 II At annual rates Internet access 4.8% Cable and satellite Tv and radio -1.4% Cellular telephone services 4.5% Local landline -4.8% Long-distance landline -4.8% Total consumer data services (as measured by the Bea) -0.7% Data: BEA, PPI 12
Implications for GDP and growth 2,5% Real U.S. GDP growth, with and without unmeasured data consumption (first two quarters of 2012, annual rates) 2,0% 1,5% 1,0% 0,5% unmeasured personal data consumption Published GDP growth 0,0% Real GDP growth Real GDP growth, adjusted for unmeasured data consumption by individuals Data: Bureau of Economic Analysis, Progressive Policy Institute (from Beyond Goods and Services: The (Unmeasured) Rise of the Data-Driven Economy (October 2012) 13
The European Internet Economy is driven by consumption Source: European Commission-Towards a competitive European Internet industry May 2012 14
Contatti www.theinnovationgroup.it Roberto Masiero Co-Founder, The Innovation Group Email: roberto.masiero@theinnovationgroup.it Blog: www.robertomasiero.org The Innovation Group The Innovation Group TIG Italy 15