MySpace vs. Facebook
Published: Jun 26, 2007
Updated: Aug 23 2011
• References: investors
A study by the University of California, Berkeley determined there are educational and economic differences between users of social networking sites. The report claims users of MySpace are more likely to come from families with parents who didn't attend college, and users of the service are more likely to go straight to work out of high school. Facebook is preferred by those who are college educated and define themselves by their extracurricular activities.
Implications - Data-mining is a tool that all modern companies should take advantage of. Exhaustive research into the educations, backgrounds and tendencies of one's customers is not only necessary, but mandatory in order to survive in such a hostile economic environment. Companies willing to invest resources into demographic research will quickly find that the benefits far outweigh the costs.