The New World of Data. Don Strickland President, Strickland & Associates

Transcription

1 The New World of Data Don Strickland President, Strickland & Associates

2 THE NEW WORLD OF DATA Physical Infrastructure Labor Capital Physical Infrastructure Labor Capital Physical Infrastructure Labor Capital Connections Information Data

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4 DATA COMES FROM MANY SOURCES Enterprise Data Transactions Public Data Big Data Social Media Sensor Data

5 AND IT IS COMPLEX

6 WORLDWIDE DATA GROWTH

7 DATA STORAGE TECHNOLOGY Terabyte >$100,000 1 Terabyte <$1,000 1 Terabyte <$100

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9 DATA DRIVEN COMPANIES WIN Research shows that data driven companies are 4% more productive and 6% more profitable Andrew McAfee MIT Center for Digital Business

10 GETTING THE BIG PICTURE

11 DATA CREATION DATA CURATION DATA VALUE

12 DATA CREATION: Big Instruments

13 DATA CREATION: Social Networking

14 DATA CREATION: The Mobile Platform

15 DATA CREATION: The Internet of Things

16 IoT: Many More things than People

17 DATA CREATION: Business

18 DATA CREATION: Government

19 DATA CREATION DATA CURATION DATA VALUE Big Instruments Social Networking Mobile Platform Internet of Things Business Government

20 DATA CREATION DATA CURATION DATA VALUE Big Instruments Social Networking Mobile Platform Internet of Things Business Government

21 DATA CURATION: The 4 V s

22 DATA CURATION: The Cloud

23 BIG DATA LANDSCAPE

24 DATA CREATION DATA CURATION DATA VALUE Big Instruments Social Networking Mobile Platform Internet of Things Business Government Technology to Handle Volume Velocity Variety Veracity Cloud Computing

25 DATA CREATION DATA CURATION DATA VALUE Big Instruments Social Networking Mobile Platform Internet of Things Business Government Technology to Handle Volume Velocity Variety Veracity Cloud Computing

26 DATA VALUE: The Value Chain

27 PREDICTIVE ANALYTICS: Examples

28 DATA VALUE: Predictive Analytics Recommendation Engines Marketing Campaign Analysis Customer Retention and Churn Analysis Social Graph Analysis Capital Markets Analysis Risk Management Fraud Detection Retail Banking (loan analysis) Network Monitoring

29 PREDICTIVE ANALYTICS: Ask what not why Vegetarians miss fewer airline flights. If you buy diapers you are more likely to buy beer. Correlation is good enough! 60% of customers who buy a Barbie doll buy a candy bar.

30 DATA CREATION DATA CURATION DATA VALUE Big Instruments Social Networking Mobile Platform Internet of Things Business Government Technology to Handle Volume Velocity Variety Veracity Cloud Computing Big Data Data Preparation Data Analytics Reporting Predictive Prescriptive

31 THE NEW WORLD OF BUSINESS: Becoming Data Driven

32 THE NEW WORLD OF BUSINESS: Skill Shortage: Data Scientist By 2018 the United States will experience a shortage of 190,000 skilled data scientists. McKinsey Global Institute July, 2013 The Data Scientist is a team!

33 THE NEW WORLD OF BUSINESS: Bigger Skill Shortage: Management By 2018 the United States will experience a shortage of 1.5 million managers and analysts capable of reaping actionable insights from the big data deluge McKinsey Global Institute July, 2013

34 THE NEW WORLD OF BUSINESS: Pressure in the Middle Large Companies Mid-size Companies Small Companies Data Scale Talent $$$$ Commitment? Innovation Fresh Start Focus

35 THE NEW WORLD OF BUSINESS: New Organizational Forms The New World of Data is transforming the world from one where decisions are made by the informed judgment of a few, to a world in which decisions are based on key insights extracted from the data of the many. Don Strickland, Innovation Outreach Conference 2012

36 THE NEW WORLD OF BUSINESS: Breaking Down the Data Silos Insurance Co. Drug Store Government Doctor Quantified Self Pharma Co s Hospital

37 THE NEW WORLD OF HEALTHCARE: Breaking Down the Data Silos Legal: Ownership Access Use Business Model: Insurance Company vs. Hospital Doctor vs. Pharmaceutical Company Individual Rights: Trust Opt-in Control

38 THE NEW WORLD OF BUSINESS: Seeing the World Differently!

39 THE NEW WORLD OF DATA: The Dark Side

40 THE DARK SIDE: Say Goodbye to Privacy You can be identified 84% of the time from six Netflix movie ratings You can be identified 95% of the time from four GPS data points

41 THE DARK SIDE: Guilt by association... what you eat... where you shop... where you live

42 ONE BIG OBSTACLE...

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44 THE BUSINESS/IT PARTNERSHIP

45 The New World of Data Thank You! Don Strickland