Feeds

Boffin calculates cash value of memories

Brits would rather have the money

  • alert
  • submit to reddit

The essential guide to IT transformation

Some people may consider memories to be priceless, but one British boffin has devised a way to place a precise Sterling value on every reminiscence.

Dr David Lewis, a self-styled "neuromarketing pioneer", has come up with the following formula, which factors in a memory's perceived importance, the kind of memory it is, how vividly you recall it and how many other, related memories you have.

Lewis Memory Formula

Dr Lewis apparently based his sum on "a weighted 'best-fit' mathematical model based on a survey of 2000 UK adults", according to Panasonic, which funded his efforts and is using the equation to help sell its Blu-ray Disc recorders which preserve "family memories" - or at least those committed to HD footage.

Not that Dr Lewis' formula has anything to say on the value of high definition, one way or the other.

When he's not devising complex formulae for Japanese consumer electronics giants, Dr Lewis runs The Mind Lab, an organisation formed "in response to increasing interest, on the part of his clients, in the use of scientific research projects as a route into the media".

Dr Lewis himself "has worked with the majority of the world's foremost Public Relations Consultancies on an extensive range of projects designed to obtain the widest and most positive media coverage for their clients".

The Mind Lab essentially seeks to use neuroscience to provide insights into how company can become more effective at selling you stuff. Portable electroencephalograph kit is use to measure punters' brain activity while shopping and so forth. Companies can use the data to devise ways to make you even keener to hand over your hard-earned for their Blu-ray recorders or whatever.

Incidentally, Dr Lewis is also behind Bo-Tau, a course in "Breath Optimised Transformational Unblocking" a technique that "combines ancient Eastern wisdom with modern Western neuroscience to provide easily mastered procedures that, in as little as seven days, will enable you to remain calmer, more focused and more motivated whatever the situation".

According to the company website, a Bo-Tau learning programme can be yours for £42.50 - rather less than the value of key memories. According to Panasonic, the Lewis Formula puts the value of the average family Christmas at £542, a wedding at £3 million and a first kiss at just under £23,000.

It also noted that 51 per cent of men and over 33 per cent of women would sell off memories for hard cash.

Panasonic has an Excel spreadsheet you can use to calculate the value of your memories, here. ®

Gartner critical capabilities for enterprise endpoint backup

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Endpoint data privacy in the cloud is easier than you think
Innovations in encryption and storage resolve issues of data privacy and key requirements for companies to look for in a solution.
Scale data protection with your virtual environment
To scale at the rate of virtualization growth, data protection solutions need to adopt new capabilities and simplify current features.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?