Comments on: What should I pay for a piece of data? http://thedoublethink.com/2010/01/what-should-i-pay-for-a-piece-of-data/ The Art & Science of the New Marketing Thu, 25 Nov 2010 23:28:03 +0000 http://wordpress.org/?v=2.9.1 hourly 1 By: jardenberg kommenterar – 2010-01-26 — jardenberg unedited http://thedoublethink.com/2010/01/what-should-i-pay-for-a-piece-of-data/comment-page-1/#comment-108681 jardenberg kommenterar – 2010-01-26 — jardenberg unedited Tue, 26 Jan 2010 06:40:19 +0000 http://thedoublethink.com/?p=922#comment-108681 [...] What should I pay for a piece of data? [...] [...] What should I pay for a piece of data? [...]

]]> By: Kort från Digitalpr.se-2010/01/25 http://thedoublethink.com/2010/01/what-should-i-pay-for-a-piece-of-data/comment-page-1/#comment-108679 Kort från Digitalpr.se-2010/01/25 Mon, 25 Jan 2010 12:00:37 +0000 http://thedoublethink.com/?p=922#comment-108679 [...] What should I pay for a piece of data? [...] [...] What should I pay for a piece of data? [...]

]]> By: doug rivers http://thedoublethink.com/2010/01/what-should-i-pay-for-a-piece-of-data/comment-page-1/#comment-108678 doug rivers Mon, 18 Jan 2010 19:29:32 +0000 http://thedoublethink.com/?p=922#comment-108678 I think you're right about the drivers of value, but, in the long run, it's not value, but cost which determines price. Think of the diamond-water paradox. Water is very useful, but very inexpensive. Diamonds aren't very useful, but expensive to mine. In the case of data, some data are very useful (e.g., web site visits) and powerful for behavioral targeting. Other data--and I would include most attitudinal survey data in this category--are certainly less reliable and predictive, yet will remain fairly expensive to collect. Unless we come up with a much cheaper way of collecting them, they will remain relatively expensive (compared to the mass of data that can be collected by cookies and web scraping). The result will be that more research will move to the less expensive sources, because of both its cost advantage and usefulness. I think you’re right about the drivers of value, but, in the long run, it’s not value, but cost which determines price. Think of the diamond-water paradox. Water is very useful, but very inexpensive. Diamonds aren’t very useful, but expensive to mine.

In the case of data, some data are very useful (e.g., web site visits) and powerful for behavioral targeting. Other data–and I would include most attitudinal survey data in this category–are certainly less reliable and predictive, yet will remain fairly expensive to collect. Unless we come up with a much cheaper way of collecting them, they will remain relatively expensive (compared to the mass of data that can be collected by cookies and web scraping). The result will be that more research will move to the less expensive sources, because of both its cost advantage and usefulness.

]]>