Strictly Confidential. This document is only for the reference of intended recipients. Please do not forward this document without the prior consent of Corporate Planning. In case you are not the intended recipient, please delete / destroy the document.
THANK YOU
Big Data : Leveraging the Opportunity to Create Value
Source: http://kaleidoscope.kontagent.com/2012/01/30/7-tips-for-leveraging-big-data/
Discrete Manufacturing
Government
Communications & Media
Banking
Retail
Insurance
Transportation
Utilities
966
848
715619
354
243
227
194
The Amount of Data in Our World has been exploding....
Amount of New Data Stored Across Various GeographiesIn Petabytes (In 2010)
N.America>3500
Lat.America>50
Africa>200
Europe>2000
Japan>400
Rest of APAC>300
China, India>300
Companies in all sectors have at least 100 terabytes of data stored in the US, many have more than 1 petabyte
Stored Data in the US, 2009In Petabytes
30 Billion Pieces of Content shared on FB everyday
5 Billion Mobile phones in use in 2010
235 Terabytes data collected by the US Library of Congress in April 2011
15/17Sectors in the US have more data stored per company than the US Library of Congress
2010 20150
50
100
150
200
250Security
HealthCare
Energy
Industrials
Retail
Travel & Logistics
Utilities
Automotive
17-50
72-215Estimated No. of Connected NodesIn Millions
Enterprises globally stored more than 7 exabytes of new data on disk drives in 2010, while consumers stored more than 6 exabytes of new data on devices such as PCs and Notebooks.
Data Generated from the Internet of Things will grow exponentially as the no. of Connected Nodes increases
Source : IDC Storage reports; McKinsey Global Institute Analysis
Source : IDC ; US Bureau of Labor Statistics, McKinsey Global Institute Analysis
Source : Analyst Interviews, McKinsey Global Institute Analysis
(Source : “Big Data: The next frontier for Innovation, Competition and Productivity” – McKinsey & Co.)
Big Dat
a
Volume
Velocity VarietyComple
xity
And They Just Don’t Come in Huge Volumes, But Also in a Variety of Formats with Increasing Complexity at a tremendous Velocity....
Velocity
Variety
Source : Wipro Infographic - Big Data
IDC : “Big data technologies describe a new generation of technologies and architectures, designed to economically extract value from very large volumes of a wide variety of data, by enabling high-velocity capture, discovery, and/or analysis.”
40% Projected growth in Global Data created per year.
2.9 Million E-Mails sent every Second
20 Hours of Video uploaded every Minute
50 Million Tweets per Day
People toPeople
People toMachine
Machine toMachine
Virtual Communities, Social Networks, Web Logs
Archives, Medical Devices, Digital TV, E-Commerce, Bank Cards, Mobiles
Sensors, GPS Devices, Bar Code Scanners, Surveillance Cameras
Big Data Has the Potential to Generate Tremendous Value for Organizations Worldwide....
US HealthCare EU Public SectorAdministration
Global PersonalLocation Data
• $300 Billion per Year• ~0.7 percent Annual Productivity Growth
• €250 Billion per Year• ~0.7 percent Annual Productivity Growth
• $100 Billion+ Revenuefor Service Providers• Up to $700 Billion valueTo end users.
Decision Making
Efficiency
Next-Gen Product & Services
Development
Customer Segmentation Accuracy
Performance
Information Accuracy
Information Transparenc
y
Potential Financial Value Generated Across Sectors
Source : McKinsey Global Institute Analysis
The Five Value Pillars
derived from Big
Data
US Retail Manufacturing
• 60+% increase in Net Margin possible• 0.5-1.0 percent Annual Productivity Growth
• Up to 50% decrease in Product development, assemblyCosts.• Up to 7% reduction in workingcapital
But There Are Issues As Well That Needs to be Addressed to Capture the Full Potential of Big Data....
1 Shortage of talent necessary for organizations to take advantage of big data. By 2018, the United States alone could face a shortage of 140,000 to 190,000 people with deep analytical skills as well as 1.5 million managers and analysts.
2 Policies related to privacy, security, intellectual property, and even liability will need to be addressed in a big data world.
3Organizations will have to deploy new Technologies & Techniques for Storage, Computing & Analytics.
4Access to Data would be a key factor. Organizations will have to gain access & Integrate Data from multiple systems.
(Source : “Big Data: The next frontier for Innovation, Competition and Productivity” – McKinsey & Co.)
5There is a huge Investment/ Cost involved due to the sheer Volume of Data that it must be difficultFor smaller companies to make efficient use of Big Data.
What the Early Adopters Have Been Doing....
“At WalmartLabs, we deal with both Big Data and Fast Data. We
use Hadoop and other open source tools to analyze social media data
from Twitter, Facebook, Foursquare and other sources. We also have developed our own proprietary
technology code named Muppet to analyze Fast Data such as Twitter firehose . Muppet can analyze in real-time which stores have the biggest crowds on Black Friday
based on Foursquare check-ins.”- Rajaraman, SVP, Walmart Global eCommerce & Head, WalmartLabs
“Amazon uses its cloud storage and processing power to handle one issue that is little thought about but vital to its profitability: combating Warehouse
Theft. Amazon uses it’s Elastic Map Reduce, a hosted Hadoop framework running on AWS that lets customers
spin up the equivalent of a super computer for processing Big Data” – Alyssa Henry, VP of Amazon’s AWS
Storage Services
57.6% of Organizations Surveyed say that Big Data is a Challenge.
72.7% of Organizations Consider driving Operational Efficiencies to be the Biggest Benefit of a Big Data Strategy
50% of Organizations say that Big Data helps in Better meeting Consumer Demand & Facilitating Growth
Source : Wipro Infographic – Big Data, Research Findings by Deloitte
90% of Fortune 500 Companies will haveAt least one Big Data Initiative by end of 2012.Industry Revenues is expected to be around $1-1.5 Billion.
“The Financial Times uses big data analytics to optimize pricing on ads by section, audience, targeting parameters, geography, and time of day. Our friends at the FT sell more inventory because the team knows what they have, where it is and how it should be priced to capture the opportunity at hand. To boot, analytics reveal previously undersold areas of the publication, enabling premium pricing and resulting in found margin falling straight to the bottom line.”- David Soloff, CEO Metamarkets on FT.
The Way Forward for Large Organizations to Leverage the Full Potential of Big Data....
Assess
Identify
Build
ImplementMonitor
Assess : Assess the internal assets the organization holds and also have access to externally. Also, conducta detailed analysis on the proprietary data one holds,Could have access to or could be purchased.
Identify : Identify the Potential Value creation Opportunities provided by Big Data. The Five ValuePillars derived from Big Data broadly presents the areasTo focus on.
Build : Build Resource capability along with TechnologyCapability. High skilled resource capable of handling Big Data along with Technology platform developmentOr partnering with technology vendors with expertise in Big Data Handling.
Implement : Implement the technology to gatherand analyze Big Data to create meaningful value. It’sImportant to have an effective Enterprise wide Data Strategy rather than operating in Silos.
Monitor : Monitor data continuously for privacy andSecurity issues and device a policy that compliesWith privacy laws.
AIBIM Framework
Strictly Confidential. This document is only for the reference of intended recipients. Please do not forward this document without the prior consent of Corporate Planning. In case you are not the intended recipient, please delete / destroy the document.
Thank You
Source: http://www.abc.net.au/technology/articles/2012/04/16/3478362.htm
Email : [email protected] : freaks007Blog : amarnath14.tumblr.com
