The greatest recent change in our world is global connectivity. This isn’t a revelation to most readers. What is fascinating is how quickly this digitally empowered society can immobilize a government, bankrupt a corporation and can cause complete disruption on Wall Street.
In most situations in recent history, the ensuing chaos was caused by a single action or multiple missteps of government, corporations, brands, and individuals. The rippling effect spread Globally, and like-minded crowds got behind the cause and worked to create change.
With global connectivity soaring, sharing of information and understanding is peaking. Individuals have more control over their surroundings and can speak with authority when it comes to climate change, gender identity, inclusiveness, consumption, government integrity and competence, a deep desire for truth, and more.
On social media, reactions to events that impact us personally and collide with our online and offline communities are typically filled with emotion. However, the traditional sources of data that are so intimately tied to our voting systems, consumer satisfaction surveys, and our sophisticated trading platforms, don’t quantify raw emotion. It’s the missing value and its importance is undeniable.
Understanding how to align with social values, including the always connected Gen Z population that lives to defend and support an individual’s cause, is crucial for brand, corporate and government survival. Consider that by 2020, it’s estimated that 1.7MB of data will be created every second for every person on earth, that is a wealth of information that needs to be in every financial and business model, every government analysis, and at the fingertips of every brand.
We know that each day our reputation and character are tested. Society expects to have power over how its personal data is used and shared and will challenge any corporation that is using them for personal gain. They anticipate that purchases will arrive when a company says it will and demand a form of compensation when companies fail. They seek and buy from brands that support causes that are similar to their own and truly believe that brands should expect nothing in return. And when a government does not live up to their commitments, the impact is often swift and severe.
As governments, brands and corporations fall out of alignment with what society sees as important to them, everyone around them will know instantly and the uprising swells. The result is lost votes, sales, revenue and share prices dropping, and when there is no correction, the impact accelerates.
Today we are witnessing an entire country sinking into despair – a 48% plunge on the Buenos Aires Stock Exchange following the presidential primary. My question is, was anyone including the changing views of Argentines shared publicly on Twitter, or any social media platforms into their outlooks and predictions?
It seemed to come as a surprise to Michael Hasenstab at Franklin Templeton, with a $1.8billion reported loss due to the market slide. This brilliant investor, a money master, I’m sure his peers are quietly questioning if he still has his edge. I’m not. I’m questioning if anyone provided him with the emotional factor – the changing political views Argentines have of their current government? Without these insights streaming into Hasenstab’s time-sensitive analysis, he had an emotional blind spot. When you ignore feelings, don’t consider emotions and decide that it’s too confusing to equate, it becomes a blind spot for anyone, even the brilliant.
This is what Orenda has committed to cracking for the last several years. And we are successful. Orenda has numerous datasets streaming into a variety of ecosystems and will soon be accessible globally. To learn more about how to access Orenda’s social positioning scores, please contact us at firstname.lastname@example.org.