the connection between big data and behavioural economics · 2016-12-16 · the connection between...

The Connection Between Big Data & Behavioural Economics – NewMR WebinarColin Ho, IPSOS, 2016

The Connection BetweenBig Data and Behavioural Economics

Colin Ho, Ph.D.December 7, 2016

The Connection Between Big Data & Behavioural Economics – NewMR WebinarColin Ho, IPSOS, 2016

Ton of Data Available

The Connection Between Big Data & Behavioural Economics – NewMR WebinarColin Ho, IPSOS, 2016

MANY ANALYTICAL TOOLS

The Connection Between Big Data & Behavioural Economics – NewMR WebinarColin Ho, IPSOS, 2016

BUT NO FRAMEWORK TO GUIDE US

The Connection Between Big Data & Behavioural Economics – NewMR WebinarColin Ho, IPSOS, 2016

Behavioral EconomicsProvides a Framework

6The Connection Between Big Data & Behavioural Economics – NewMR WebinarColin Ho, IPSOS, 2016

Flow

1

The Data

2

Negativity Bias

3

Emotions

THE DATA

The Connection Between Big Data & Behavioural Economics – NewMR WebinarColin Ho, IPSOS, 2016

7,000 Online Automotive Reviews

It drives very well, easy to maneuver, great road feedback, and accelerates very well and

can be quite fast - I have a manual transmission. I've redlined it multiple times

and it takes it like a champ. .

I can beat a motor cycle off the line and it corners like a demon.

the best part is its sporty character- very direct

handling, great breaks and engine that likes to go in high

revs.

These cars are ever so quiet that you barely hear the motor on them. I have the Ultimate package on mine, and believe me, the seats

on this one are purely luxuriously.

Engine is a sweetie. Good power and torque.

The Connection Between Big Data & Behavioural Economics – NewMR WebinarColin Ho, IPSOS, 2016

From 6 Countries

Australia

New Zealand

UK

IrelandUnited States

Canada

NEGATIVITY BIAS

11The Connection Between Big Data & Behavioural Economics – NewMR WebinarColin Ho, IPSOS, 2016

Negativity Bias

12The Connection Between Big Data & Behavioural Economics – NewMR WebinarColin Ho, IPSOS, 2016

Positive Positive Positive Positive

NegativePositive

13The Connection Between Big Data & Behavioural Economics – NewMR WebinarColin Ho, IPSOS, 2016

1:

The Connection Between Big Data & Behavioural Economics – NewMR WebinarColin Ho, IPSOS, 2016

Reviews Include Positive And Negative

Repairs (41%)

Electronics (25%)

Engine & Drive (23%)

Unreliable (9%)

Dealer and Car Problems (36%)

Good Car (59%)

Electronics (34%)

Like the Drive (46%)

Reliable (19%)

Like the Power (50%)

Like the windows/interior (25%)

Economical and Practical (42%)

The Connection Between Big Data & Behavioural Economics – NewMR WebinarColin Ho, IPSOS, 2016

Relative Impact On Overall Rating

Electronics (-47)

Unreliable (-79)

Electronics (+38)

Reliable (+48)

EMOTIONS

The Connection Between Big Data & Behavioural Economics – NewMR WebinarColin Ho, IPSOS, 2016

Thinking About Others

Family, Space

Good & Comfortable

Reliable, Practical, Economical

Like How it Drives

Design, Style, Quality

Beautiful, Luxurious

Love the Car

The Connection Between Big Data & Behavioural Economics – NewMR WebinarColin Ho, IPSOS, 2016

The Connection Between Big Data & Behavioural Economics – NewMR WebinarColin Ho, IPSOS, 2016

The Connection Between Big Data & Behavioural Economics – NewMR WebinarColin Ho, IPSOS, 2016

The Connection Between Big Data & Behavioural Economics – NewMR WebinarColin Ho, IPSOS, 2016

Summary

1

Big Data & Analytics

2

Negativity Bias

3

Emotions

The Connection Between Big Data & Behavioural Economics – NewMR WebinarColin Ho, IPSOS, 2016

Colin.Ho@Ipsos.comDecember 7, 2016

Thank You!

The Connection Between Big Data & Behavioural Economics – NewMR WebinarColin Ho, IPSOS, 2016

Q & A

Ray PoynterThe Future Place

Colin HoIPSOS