The random walk is fundamental to modeling dynamic processes on networks. Metrics based on the random walk have been used in many applications from image processing to Web page ranking. However, how appropriate are random walks to modeling and analyzing social networks? We argue that unlike a random walk, which conserves the quantity diffusing on a network, many interesting social phenomena, such as the spread of information or disease on a social network, are fundamentally non-conservative. When an individual infects her neighbor with a virus, the total amount of infection increases. We classify diffusion processes as conservative and non-conservative and show how these differences impact the choice of metrics used for network analysis, as well as our understanding of network structure and behavior. We show that Alpha-Centrality, which mathematically describes non-conservative diffusion, leads to new insights into the behavior of spreading processes on networks. We give a scalable approximate algorithm for computing the Alpha-Centrality in a massive graph. We validate our approach on real-world online social networks of Digg. We show that a non-conservative metric, such as Alpha-Centrality, produces better agreement with empirical measure of influence than conservative metrics, such as PageRank. We hope that our investigation will inspire further exploration into the realms of conservative and non-conservative metrics in social network analysis.