Focus should be on the value of big data, not technical points. Leveraging big data will require changing some long-held paradigms

Transcription

1 GIL 2012: Silicon Valley Bill Franks, Chief Analytics Officer, Global Alliances, Teradata & Author, Taming The Big Data Tidal Wave (Wiley, April 2012) Future-proofing Performance and Profitability: Success = Taming the Big Data Tidal Wave Key Take-Aways: Focus should be on the value of big data, not technical points Leveraging big data will require changing some long-held paradigms Many big data sources provide totally new information, which can lead to huge competitive advantage for the first to analyze them

2 Is The Big Part Or The Data Part More Important? The Big Part The Data Part 2 Proprietary and Confidential to Teradata and Bill Franks. Do not distribute without permission.

3 Fancy Analysis Earlier Today Predicted These Results 60% 50% 40% 30% 20% 10% 0% What s The Most Important Part Of Big Data? "Big" "Data" Both Neither 3 Proprietary and Confidential to Teradata and Bill Franks. Do not distribute without permission.

4 Is The Big Part Or The Data Part More Important? As always, the answer is neither! What you do with big data is most important Many people are losing sight of this fact with big data The Big Part The Data Part 4 Proprietary and Confidential to Teradata and Bill Franks. Do not distribute without permission.

5 The Big Data Tidal Wave Is Coming Is your organization ready to tame it? Source: CEO Advisory: Big Data Equals Big Opportunity, Gartner, 31 March Proprietary and Confidential to Teradata and Bill Franks. Do not distribute without permission.

6 The Right People And Skills Are Still Critical Analyst ETL Specialist Data Scientist System Admin Statistician BI Professional Predictive Modeler Architect Advanced Analytics Consultant Business Professional Data Miner 6 Proprietary and Confidential to Teradata and Bill Franks. Do not distribute without permission.

7 New Sources For Insights Across Industries 7 Proprietary and Confidential to Teradata and Bill Franks. Do not distribute without permission.

8 Big Data Can Impact Manufacturing Businesses Today Real-Time, Tactical Opportunities Long-Term, Strategic Opportunities Safety Monitoring Early Warning Patterns Health Monitoring Impacts Of Environmental Variation 8 Proprietary and Confidential to Teradata and Bill Franks. Do not distribute without permission.

9 What Makes Big Data Different? > In a manufacturing environment, often generated by a sensor > It is typically an entirely new source of data As opposed to an extended collection the same old data > It is not always designed to be friendly, if it is designed at all > Large swaths of big data may not have a lot of value 9 Proprietary and Confidential to Teradata and Bill Franks. Do not distribute without permission.

10 New Paradigm: Letting Some Data Go Much big data doesn t matter... It is like sipping from a hose Let much of it go and reduce it to a manageable size 10 Proprietary and Confidential to Teradata and Bill Franks. Do not distribute without permission.

11 Why Nobody Is Really Analyzing Unstructured Data Very few methodologies directly analyze unstructured data Unstructured data is usually pre-processed so that some structure can be applied to it The result is highly structured & much smaller than the source Match!!! However, the match is using a highly structured shape, not the print itself 11 Proprietary and Confidential to Teradata and Bill Franks. Do not distribute without permission.

12 Structure Is Applied To Text Data For Analysis Purposes The new Platinum Line is very good. It is even better than XYZ Corp s product! Information Extracted: Who? Bill Franks (customer ) When? 12:00 on 7/7/2012 Mentioned Platinum Line? Yes = 1 Sentiment positive? Yes = 1 Compared to competition favorably? Yes = 1 Mentioned New Promotion? No = 0 12 Proprietary and Confidential to Teradata and Bill Franks. Do not distribute without permission.

13 Why Should Manufacturers Get Started Today? > Being the first to use a new data source lets you be the first to fully exploit the value it offers > Make your processes safer and more reliable > Enable the identification of novel, unanticipated uses for the data after it is collected 13 Proprietary and Confidential to Teradata and Bill Franks. Do not distribute without permission.

14 How Do You Get Started? > Collect some data, such as sensor data, and start analyzing it > Expect a large amount of effort to go to figuring the data out > Focus on a some quick wins that prove the data s value 14 Proprietary and Confidential to Teradata and Bill Franks. Do not distribute without permission.

15 How Do You Get The Most Value From Big Data? Make big data another facet of an enterprise data & analytics strategy Develop standards for format, input, and usage of big data Combine it with other data sources 15 Proprietary and Confidential to Teradata and Bill Franks. Do not distribute without permission.

16 Today s Big Data Is Not Tomorrow s Big Data! Big data will only get bigger and more powerful over time Tame it now and be prepared for the next wave! 16 Proprietary and Confidential to Teradata and Bill Franks. Do not distribute without permission.

17 In my entire career of researching and lecturing on analytics, I have never encountered a book that combines the knowledge of both information technology & business managers in such a succinct way. Diego Klabjan, Professor Northwestern Univ. Director, Master of Science in Analytics This book, then, puts the focus squarely where it belongs in my opinion. It s primarily about the effective analysis of big data - Tom Davenport, Author, Competing on Analytics This is a one-stop handbook for anyone who wants to understand what big data is and how to leverage it through advanced analytic processes and methods... Stuart Aitken, CEO, dunnhumby USA