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Data Capitalism
In information economics, data capitalism denotes a "genus" of capitalism where data is the source of monetization and often the currency and the final value. A typical application of the principles of data worth is found in surveillance capitalism. The methodology for processing such mass data is usually summarized in the buzzword 'big data'. The general concept of monetization of data is described in data monetization. See also *Information society *Neuromarketing Neuromarketing is a commercial marketing communication field that applies neuropsychology to market research, studying consumers' sensorimotor, cognitive, and affective responses to marketing stimuli. The potential benefits to marketers include ... References Capitalism {{business-term-stub ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Information Economics
Information economics or the economics of information is the branch of microeconomics that studies how information and information systems affect an economy and economic decisions. One application considers information embodied in certain types of commodities that are "expensive to produce but cheap to reproduce." Samuelson, Paul A., and William D. Nordhaus (2001). Economics, p.194. Examples include computer software (e.g., Microsoft Windows), pharmaceuticals, and technical books. Once information is recorded "on paper, in a computer, or on a compact disc, it can be reproduced and used by a second person essentially for free." Without the basic research, initial production of high-information commodities may be too unprofitable to market, a type of market failure. Government subsidization of basic research has been suggested as a way to mitigate the problem. The subject of "information economics" is treated under ''Journal of Economic Literature'' classification code JEL D8 †... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Capitalism
Capitalism is an economic system based on the private ownership of the means of production and their operation for Profit (economics), profit. Central characteristics of capitalism include capital accumulation, competitive markets, price system, private property, Property rights (economics), property rights recognition, voluntary exchange, and wage labor. In a market economy, decision-making and investments are determined by owners of wealth, property, or ability to maneuver capital or production ability in Capital market, capital and financial markets—whereas prices and the distribution of goods and services are mainly determined by competition in goods and services markets. Economists, historians, political economists and sociologists have adopted different perspectives in their analyses of capitalism and have recognized various forms of it in practice. These include ''Laissez-faire capitalism, laissez-faire'' or free-market capitalism, anarcho-capitalism, state capi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Data
In the pursuit of knowledge, data (; ) is a collection of discrete values that convey information, describing quantity, quality, fact, statistics, other basic units of meaning, or simply sequences of symbols that may be further interpreted. A datum is an individual value in a collection of data. Data is usually organized into structures such as tables that provide additional context and meaning, and which may themselves be used as data in larger structures. Data may be used as variables in a computational process. Data may represent abstract ideas or concrete measurements. Data is commonly used in scientific research, economics, and in virtually every other form of human organizational activity. Examples of data sets include price indices (such as consumer price index), unemployment rates, literacy rates, and census data. In this context, data represents the raw facts and figures which can be used in such a manner in order to capture the useful information out of it. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Monetization
Monetization ( also spelled monetisation) is, broadly speaking, the process of converting something into money. The term has a broad range of uses. In banking, the term refers to the process of converting or establishing something into legal tender. While it usually refers to the coining of currency or the printing of banknotes by central banks, it may also take the form of a promissory currency. The term "monetization" may also be used informally to refer to exchanging possessions for cash or cash equivalents, including selling a security interest, charging fees for something that used to be free, or attempting to make money on goods or services that were previously unprofitable or had been considered to have the potential to earn profits. And data monetization refers to a spectrum of ways information assets can be converted into economic value. Another meaning of "monetization" denotes the process by which the U.S. Treasury accounts for the face value of outstanding coinage. Th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Surveillance Capitalism
Surveillance capitalism is a concept in political economics which denotes the widespread collection and commodification of personal data by corporations. This phenomenon is distinct from government surveillance, though the two can reinforce each other. The concept of surveillance capitalism, as described by Shoshana Zuboff, is driven by a profit-making incentive, and arose as advertising companies, led by Google's AdWords, saw the possibilities of using personal data to target consumers more precisely. Increased data collection may have various advantages for individuals and society such as self-optimization (Quantified Self), societal optimizations (such as by smart cities) and optimized services (including various web applications). However, as Capitalism has become focused on expanding the proportion of social life that is open to data collection and data processing, there may come with significant implications for vulnerability and control of society as well as for privacy. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Big Data
Though used sometimes loosely partly because of a lack of formal definition, the interpretation that seems to best describe Big data is the one associated with large body of information that we could not comprehend when used only in smaller amounts. In it primary definition though, Big data refers to data sets that are too large or complex to be dealt with by traditional data-processing application software. Data with many fields (rows) offer greater statistical power, while data with higher complexity (more attributes or columns) may lead to a higher false discovery rate. Big data analysis challenges include capturing data, data storage, data analysis, search, sharing, transfer, visualization, querying, updating, information privacy, and data source. Big data was originally associated with three key concepts: ''volume'', ''variety'', and ''velocity''. The analysis of big data presents challenges in sampling, and thus previously allowing for only observations and sampling. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Data Monetization
Data monetization, a form of monetization, may refer to the act of generating measurable economic benefits from available data sources (analytics). Less commonly, it may also refer to the act of monetizing data services. In the case of analytics, typically, these benefits accrue as revenue or expense savings, but may also include market share or corporate market value gains. Data monetization leverages data generated through business operations, available exogenous data or content, as well as data associated with individual actors such as that collected via electronic devices and sensors participating in the internet of things. For example, the ubiquity of the internet of things is generating location data and other data from sensors and mobile devices at an ever-increasing rate. When this data is collated against traditional databases, the value and utility of both sources of data increases, leading to tremendous potential to mine data for social good, research and discovery, and a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Information Society
An information society is a society where the usage, creation, distribution, manipulation and integration of information is a significant activity. Its main drivers are information and communication technologies, which have resulted in rapid information growth in variety and is somehow changing all aspects of social organization, including education, economy, health, government, warfare, and levels of democracy. The people who are able to partake in this form of society are sometimes called either computer users or even digital citizens, defined by K. Mossberger as “Those who use the Internet regularly and effectively”. This is one of many dozen internet terms that have been identified to suggest that humans are entering a new and different phase of society. Some of the markers of this steady change may be technological, economic, occupational, spatial, cultural, or a combination of all of these. Information society is seen as a successor to industrial society. Closely relat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Neuromarketing
Neuromarketing is a commercial marketing communication field that applies neuropsychology to market research, studying consumers' sensorimotor, cognitive, and affective responses to marketing stimuli. The potential benefits to marketers include more efficient and effective marketing campaigns and strategies, fewer product and campaign failures, and ultimately the manipulation of the real needs and wants of people to suit the needs and wants of marketing interests. Certain companies, particularly those with large-scale ambitions to predict consumer behavior, have invested in their own laboratories, science personnel, or partnerships with academia. Neuromarketing is still an expensive approach; it requires advanced equipment and technology such as magnetic resonance imaging (MRI), motion capture for eye-tracking, and the electroencephalogram. Given the amount of new learnings from neuroscience and marketing research, marketers have begun applying neuromarketing best practices witho ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
