If companies wish to survive in todayâ€™s ever-expanding digital age, they need to recognize their customersâ€™ code haloâ€”a consumerâ€™s virtual selfâ€”and implement the business model that supports it. This is why companies like Netflix are still standing while others like Blockbuster are not. Listen as Malcolm Frank, coauthor of Code Halos: How the Digital Lives of People, Things, and Organizations are Changing the Rules of Business, describes why companies must use data scientists that can understand both the complex math behind the data as well as the business content. And since trust is the currency of the new virtual economy, companies that have all this data should never abuse this power and need to emphasize building trust with their customers.
MALCOLM FRANK was named â€œOne of the most influential people in financeâ€ in 2005 by Risk Management Magazine. He is a graduate of Yale University with a degree in Economics.