Friday, July 17, 2009

Information Overload - the Data Tsunami

Some (apparent) Facts
Social Data Revolution by Andreas Weigend
"In 2009, more data will be generated by individuals than in the entire history of mankind through 2008. Information overload is more serious than ever. What are the implications for marketing?"

Who Consumers Trust by Nielsen
"Ninety percent of consumers surveyed noted that they trust recommendations from people they know, while 70 percent trusted consumer opinions posted online." And Search Engine results Ads score a comparative 41%.

The Tsunami Effect
The implications from my perspective are that as we continue to drown in ever-increasing amounts of online data, fewer people are doing their own buying research through search engines and are instead tending to rely on recommendations from their peers and friends. The stats seem to indicate that I will look first at what my social network friends have to say, secondly to other consumer opinions posted online, then lastly to what I can find through the search engines.

Clearly this has implications for marketing and the monetization models that the search engines have achieved and that the social networking sites are grabbing for. 

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