Inside Finance will continue to follow ideas about the digital economy and will have more videos from Julie Meyer.
One of the things with data is what we use with it, both as Google, but also as a provider or a supplier of holidays, content hotels.
That one of the key things with data is to make sure that it’s permission based, so that you’re using information the way that the user allows you to use.
And that means that the onus is on you to make sure that if you’re using that data then it’s useful to the consumer so that you’re using it in a way that’s going to be helpful to them.
So if you’re checking into a hotel or about to arrive at a hotel and maybe they’re kind of following you from the airport and can see through mobile that you’re on their way. As long as you give permission.
They know that you’re ready to check-in, that they know what room type that you prefer, they know what you like in your room in terms of flowers or drinks in the bar, all of those things are potentially useful, but only with the user’s permission.
But again, early stages there, there’s lots of exciting things going on in using user information.
I think it’s very early stages in this big data field. I would say we’re probably two out of ten in terms of where we can go with this.
And who knows where it’s going to go, you know, it’s almost as if it’s the early stages of the dot com era again in terms of the power of big data.
I think it has offered a lot of opportunities. I mean when we look back, 1998 Google was only set up.
I mean LinkedIn, Twitter is only recent phenomenon we have. Personally I think there's great opportunities in terms of reaching your customers, reaching clients whether it's B to B, B to C.
But I always think there's also... the world's become more visible so maybe things you got away with in the past is no longer possible.
So I think my view is using social media is a great way of promoting your business but also keep aware of social media also comes with potential pitfalls if you don't use it in the right way.