Big data and its transformational effects

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1 Big data and its transformational effects Professor Fai Cheng Head of Research & Technology September 2015 Working together for a safer world

2 Topics Lloyd s Register Big Data Data driven world Data driven shipping

3 How we started Our heritage is genuinely historic Formed in 1760 in Edward Lloyd s coffee house to examine and classify merchant ships according to their condition. We have 255 years of global marine history The world s first ship classification society and this remains our core activity today. and over 100 years serving other industries across society from energy, rail, food safety to power and manufacturing.

4 The Lloyd s Register Foundation is a global charity

5 Lloyd s Register Group today +9,000 Employees worldwide Over 90 nationalities 3 Business divisions: Marine, QA, Energy 1 billion Turnover 3 Regions: Asia, EMEA, Americas +60,000 Clients, from SMEs to Fortune 500 companies

6 Big data never sleeps

7 Big data huge volume It took from the dawn of civilization to the year 2003 for the world to generate 1.8 zettabytes of data. In 2011 it took two days on average to generate the same amount of data. The world s data doubles every two years. If you burn all data created in just one day onto DVDs, you could stack them on top of each other and reach the moon TWICE! The number of bits of information stored in the digital universe is thought of have exceeded the number of stars in the physical universe in 2007.

8 Big data real time transmission In the year 2011 there were 12 million Radio-frequency identification (RFID) tags sold worldwide. That number is projected to be 209 billion by Oil drilling platforms have 20,000 to 40,000 sensors. 48 hours of video are uploaded to YouTube every minute, resulting in 8 years worth of digital content each day. There are 750 million photos uploaded to Facebook every two days. The number of text messages sent and received every day exceeds the population of the planet. The boom of Internet of Things (IoT) will mean that the amount of devices connected to the Internet will rise from about 13 billion today to 50 billion by 2020.

9 Big data from a multitude of sources

10 Big data making sense of them Twitter processes 7 terabytes of data every day and Facebook processes 10 terabytes of data every day. Google has over 3 million servers processing over 1.7 trillion searches per year in 2011 (22 million in 2000). Decoding the human genome took 10 years to process; now it can be accomplished in one week. US National Security Agency is thought to analyse 1.6% all global internet traffic at around 30 petabytes every day. Apache Hadoop is an open source software project that enables distributed processing of large data sets across clusters of commodity servers. It is designed to scale up from a single server to thousands of machines, with very high degree of fault tolerance.

11 Big data data analytic technologies Cloud Computing Parallel Computing NoSQL Databases General Programming Data Visualization Machine Learning

12 Big data big challenges

13 Big data why it is important? Data is the new oil we have to learn how to mine it! (European Commission Report) $ 7 trillion economic value in 7 US sectors alone. $90 billion annually in sensitive devices. An insurance firm with 5 terabytes of data on share drives pays $1.5 m per year. New 4 th factor of production - Land, Labour, Capital, + Data. New science data intensive science discovery.

14 Big data - data driven 4 th Industrial Revolution

15 Big data new engine for economic expansion Credit: Deutsche Bank Research Gross domestic product worldwide, billion USD (purchasing power adjusted)

16 Big data job and wealth In US alone, 1.9 million IT jobs will be created by 2015 to carry out big data projects. Each of those will be supported by 3 new jobs created outside of IT. A total of 6 million jobs. Today data centres occupy an area of land equal to the size of almost 6,000 football fields. The value of the Hadoop market is expected to soar from US$50 billions by 2020 according to market research. By integrating big data analytics into health care, the US health industry could save US$300 billion a year. Retailers could increase their profit margin to 60% through the exploitation of big data analytics. The big data industry could grow to US$54 billions by 2017.

17 Big data job and wealth

18 Big data impact on security, intelligence and democracy

19 Big data Global Marine Technology Trends 2030 Report

20 Big data data driven shipping

21 Big data risk and uncertainty

22 Big data data driven business

23 Big data data driven operation and supply chain

24 Professor Fai Cheng Head of Research & Technology Lloyd s Register T +44 (0) E Lloyd s Register Global Technology Centre, Southampton Innovation Campus, Burgess Road, Southampton SO16 7QF Working together for a safer world Lloyd s Register and variants of it are trading names of Lloyd s Register Group Limited, its subsidiaries and affiliates. Copyright Lloyd s Register EMEA A member of the Lloyd s Register group.

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