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BIG DATAThe next frontier for emerging market
USC CSSE Annual Research ReviewMarch 14, 2013
Rachchabhorn WongsarojBank of Thailand, Visiting Scholar @ USC
Outline Current situation What is big data? Why big data is important? Big data cases Research challenges Big data in Thailand Future research
Current Situation
Data Quantity
Data Quality Data Variety
Data Timeliness
Lots of data is being created & collected
Global data
Problems
Big Data = Volume, Variety and Velocity
Volume
People to People People to
Machine
Machine to Machine
Variety
Velocity
What is big data?
8 Billion messages/day845M active users
340Million Tweets/day140M active users
20 Hours of video uploaded every minute
Source: Gartner & IBM
Emerging Technologies Hype Cycle 2011 (Gartner)
Why big data is important?
Why big data is important?Emerging Technologies Hype Cycle 2012 (Gartner)
Source: McKinsey Global Institute Analysis
Why big data is important?
Why big data is important?Big data can generate significant financial value across sectors
US Health Care
$300 billion value/year ̴� 0.7 % annual
productivity growth
Europe Public Sector Administration
£250 billion value/year ̴�0.5 % annual productivity growth
Global Personal Location Data$100 billion +revenue for service providerUp to $700 billion value to end users
US Retail60+% increase in net margin possible0.5-1.0 % annual productivity growth
ManufacturingUp to 50% decrease in product developmentUp to 7% reduction in working capital
Source: McKinsey Global Institute Analysis
R&D Business Model PublicClininal Account
$165BClinical
$47BAccount
Health Care sector has potential to invest $300B
Source: US Department of Labor
Business Model aggregation of patient records, online platform and communities
2% $5B
Public health surveillance and response systems
3% $9B
Accounts advanced fraud detection: performance based drug pricing
14% $47B R&D personalized medicine, clinical trial design
32% $108B
Clinical transparency in clinical data and clinical decision support
49% $165B
Why big data is important?
$108BR&D
Cases Data sources / Techniques OutputGoogle patient search data, Predictive Model, etc.
Hospitalization pattern,Customized insurance
Advanced analytic solutions Process time reduction
Customer transactions Customer defection prediction
Trading transactions & IP address Possible Frauds, Financial Bubble, Money Laundering
Real time people & location data Crime and terrorist prevention
Product search pattern,social media
Website outage/peak time support, Travel trend and pattern
Big data cases
Function Big data retail leverMarketing Cross-selling
Location based marketing In-store behavior analysis Customer micro-segmentation Sentiment analysis Enhancing the multichannel consumer experience
Merchandising Assortment optimization Pricing optimization Placement and design optimization
Operations Performance transparency Labor inputs optimization
Supply Chain Inventory management Distribution and logistic optimization Informing supplier negotiations
New Business Model Price comparison services Web-based markets
Source: McKinsey Global Institute Analysis
Research Challenges
Customer micro-segmentationSentiment analysis
Performance transparencyLabor inputs optimization
Price comparison services
Language Cost of implementation Magnitude of data Demographic data generator Data type
Challenges
Big data in Thailand
Big data in ThailandLanguage (natural language processing)
no space between words Combination between Thai –Foreign languages Lack of Thai text analytic components
Example
Big data in ThailandCost of implementation
13 Big data vendors in 2013 Hadoop :
Requires: ~$1 million between 125 and 250 nodes Distribution: Annual costs: ~$4,000 per node-> A small fraction of an enterprise data warehouse $10-$100s of millions.
44% 31%
14% 9%
Big data in Thailand
Overseas Bandwidth 405,860 Mbps
Local Bandwidth (.th, or.th, etc)
1,006,140 Mbps
Magnitude of data As of September 2012
25% use smart phone8% use tablet
60% use Local Bandwidth
Big data in ThailandDemographic data generator
39% of population use Internet85.9% of data is created by Internet
users age 6-24
Population65M
Internet users25M
Most data are from young generations
Only 2.12% focus on Education
Source: http://www.prd.go.th/ewt_news.php?nid=23168
Big data in ThailandTypes of data – limited Big data technique application
Bank of Thailand (BOT)Website – As is
Financial institution
BOT data (Internet/Extranet)
DB 1 DB 2 DB3
Manual Checking
Template Input
Manual Submit
BTWS Working
BOT Website
Auto Submit
Source: Bank of Thailand
Problems Too many steps Once due - act first, fix later Too many stakeholders Bureaucracy management style
BOT data website – As is
Source: Bank of Thailand
InputData
ComplexValidation
CrossValidation
Manual Check
QueryData (BO)
InputTemplate
Manual Submit
Website
Approve
Manual CheckingTimeliness
Revision Policy
Accuracy & Reliability
Volume
Variety
Velocity
Future research Data quality management
Tools Template Checklist Process
Reference Big Data: The next frontier for innovation, competition, and
productivity, McKinsey Global Institute Analysis Understanding Big Data: Analytic for Enterprise Class Haddop
and Streaming Data, IBM Gartner Report Thailand National Statistic Office Thailand Digital Statistic Source Bank of Thailand (www.bot.or.th)
BIG DATA The next frontier for emerging market
Rachchabhorn WongsarojBank of Thailand
Visiting Scholar @ USC
Thank you Q & A