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The “Brave New World of Data” Isn’t Just About Consumers

March 16, 2011

vcmike

Venture Beat has a widely retweeted post, titled “The Brave New World of Data,” that describes Reid Hofman’s talk on the growing importance of data on the web.  Hoffman give several examples how the use of data can make (mainly consumer) applications and services more powerful.

While I heartily agree with Hofffman’s thesis, I also think there is a whole range of business value being created by online data that is being overlooked.  As both brick and mortar and web businesses alike conduct more and more of their business online — a trend I think we all agree is universal and only increasing — opportunities abound for those businesses to capture incredibly powerful data about their business.  This, in my mind, is the REALLY big opportunity for data — the opportunity for businesses to harness the data made available online to transform themselves into data driven businesses.  We are certainly seeing this in the current generation of highly successful consumer web plays.  Under the cover, Zynga looks much more like a quant shop than a game studio.  And in my own portfolio the LOLapps team continues to impress with their fanatically analystical approach.  But the opportunity is for all businesses to emulate the hyper-analytical cultures in those businesses and become truly data driven business.

10 Comments

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  1. March 16, 2011

    Mike,

    It’s really exciting to see attention paid into this thought. We think we’re a step ahead of the next market step.

    We’re looking to build a solution for both retailer and mobile shopper that generates exactly what you’re writing to.

    Data aggregates quickly into information, analysis drives intelligent action and automation enables profitable outcomes in real-time; in a closed loop and visible from both sides of the equation – retailer and consumer.

    Thanks!

    Erik

  2. logicguru #
    March 22, 2011

    Mike,I am the tech2ipo owner, I like your articles ,and translate it to Chinese.I am sorry.

  3. August 10, 2011

    博主这文章说得好,支持个,呵呵

  4. August 10, 2011

    都是好文章,保存一下先

  5. August 12, 2011

    搜索到相关知识,不错!

  6. August 14, 2011

    O(∩_∩)O哈哈~支持一下(⊙o⊙)哦

  7. September 1, 2011

    支持一下!!!!!!

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