forum big data
DESCRIPTION
BEAT Big Data Forum: Leveraging Big Data as a source of Competitive AdvantageTRANSCRIPT
1
Management Benefit: the Big Data Discussion Forum for Business Owners & Decision Makers
2
1530hrs – Welcome and introduction1540hrs – The data evolution, as we see it1610hrs – Big Data, definition & case studies1630hrs – Big Data projects, standards etc1645hrs – Open forum discussion1730hrs – Networking
Agenda
3
WELCOME – who we are
4
What is BIG DATA?
5
“Dynamic, large and disparate volumes of data being created by
people, tools and machines”;
Characterized by four main dimensions:
Volume Velocity
Variety Veracity
What is BIG DATA?
6
Most Organisations are within the Opportunistic and Repeatable Stages.
Elements making up a BIG DATA approach
7
Big Data Innovators
Technology
Top Management
Enterprise Budget
ROI <6 monthsProfitability
Advanced Analytics
Tools
Improving Efficiency is the prime driver of Big Data Innovators!
Characteristics of successful BIG DATA innovators
8
Governance Management Architecture
Usage Quality Security
Privacy
Risk factors: BIG DATA projects
9
BIG DATA …big opportunity?
10
The traditional weekly errand
Long Lists
Pacing the Lanes
Queues
Guestimate Marketing
Stock Mngt Issues
Pricing Controls
11
A ‘Not-So-Futuristic’ scenario
Buying Patterns
Smart Lane/Shelf Layouts
Queues
Trending Predictions
Real Time Stock Mngt
Live Pricing
12
Big DataFabio Zammit
13
14
Why Big Data?
15
16
17
18
What is Big Data?
19
$50billion (2017)~400 million tweets per day (TWTR)~10 million photos per day (FB)~24 petabytes per day (GOOG)
20
2012“every day 2.5 exabytes of data were created”
IBM Computers
21
125,000Years’ worth of DVD quality video
22
“Big data is being generated by everything around us at all times. Every digital process and social media exchange produces it.
Big data is arriving from multiple sources at an alarming velocity, volume and variety.”
23
Applicationsfor Big Data
24
25
26
27
ImplementationOf Big Data
28
29
30
Big DataSet a goal when starting out with Big Data.
31
Thank Yourootcodex.com
@fzammit
33
A lapsed statisticianOrganisational & Quality/ Excellence consultantBut still using statistical thinking on Big data
– Or a big collection of unstructured, complex & confusing Small data– Making sense of a mess
Chair BSI Technical Committee MS6Chair Royal Statistical Society, Quality Improvement Section
Me…
Professor Tony [email protected]
34
Still using statistical thinking on Big data
Think people are ambiguous about the meaning of ‘BIG Data’
Don't appreciate the opportunities & issues Big data presents
Professor Tony [email protected]
A lapsed statistician, but…
35
Still using statistical thinking on Big dataThink people are ambiguous about the meaning of ‘BIG Data’
Don't appreciate the opportunities & issues Big data presentsBig data
– Noun COMPUTING– extremely large data sets that may be analysed
computationally to reveal patterns, trends, and associations, especially relating to human behaviour and interactions.
– "much IT investment is going towards managing and maintaining big data"
Professor Tony [email protected]
A lapsed statistician, but…
36
Big data from Wikipedia…Big data is a broad term for data sets so large or complex that traditional data processing applications are inadequate.
Challenges include analysis, capture, data curation, search, sharing, storage, transfer, visualisation, and information privacy.
The term often refers simply to the use of predictive analytics or other certain advanced methods to extract value from data, and seldom to a particular size of data set.
Accuracy in big data may lead to more confident decision making. And better decisions can mean greater operational efficiency, cost reduction and reduced risk.
Professor Tony [email protected]
The big mystery of BIG DATA
37
New Sources & Types of Data of commercial value.
A bi-product of life & activities
Collected at a low transactional level
New opportunities, BUT…Practical & Ethical issues– Assumptions– Value/Values
Professor Tony [email protected]
The big issue of BIG DATA
42
Jan – July 2011 Aug 2011- Feb 2012
Professor Tony [email protected]
Today, a BIG issue
Sept 2015- Mar 2016
44
Discussion forum
45
Get In Touch