Jarrod Lopiccolo - Big Data

transcript

CONFIDENTIALProperty of Noble Studios

WTF is Big Data? How did we get here, what do we do now, and where are we going?

What is Big Data?

Big data, according to Wikipedia, is data so large and complex that it is too difficult to process using typical database tools or traditional processing.

What is Big Data? …it’s the small stuff

64% of enterprises surveyed indicate that they're deploying or planning Big Data projects.

56%acknowledge that they still don't know what to do with.

Structured vs. Unstructured Data

Structured data refers to information with a high degree of organization.

Relational database is seamless and readily searchable.

Indexed by date, time, sender, recipient and subject.

Hugely valuable but useless if unrefined

What do we do with Big Data?

In an ideal world, a company’s goal would be to turn big data into structured data.

In an ideal world, a company’s goal would be to turn big big data into structured data.

Volume. Velocity. Variety.

Improve operational efficiencies from existing investments.

Big Data + Mobile means new business opportunities

How do we create predictable success?

Predictive AnalyticsSimplifies data to amplified value. Navigating overwhelming complexity to give you a clearer view of the future and help you chart your course.

• What is the best action to take on this user?

• What product best matches this customer’s needs?

• What actions will optimize my marketing and maximize my return?

How Big Data can inform you.

Big Data alone is like Big Hair…

You just stare at it.

How did we get here?

The aid of two key macroeconomic trends

1. Migration of workforce from labor intensive to knowledge-intensive roles and industries.

2. Introduction of decision-support systems into organizations in the 1960s.

Powerful technologies

Accompanying data sets

Analytical decision-making and execution.

Difficulties became apparent.

Filters for important information were not in place to make relevant and impactful decisions.

What do we do now?

1.Identify the Opportunity• Data driven firms performed 5-6% better | +60% in the retail sector

2.Build Skills• 4.4 million Big Data jobs by 2015 | 1.9 million in the U.S.

3.Collect data• Proprietary, public and purchased

4.Unify your Architecture• Integrate legacy systems | build new architecture

5.Adopt a Big Data Mindset• Step-by-step approach will no longer do | Look at patterns

How do we start using Big Data?

• Start small in their Big Data efforts

• Easier to train an existing employee on Big Data technologies than it is to teach somebody on your business

• Iterate on your project as you learn which data sources are valuable

• Have a clear view of what you hope to achieve

Top Big Data Challenges

• Hype around big data both motivate businesses to start Big Data projects but also confuse them as to where they should go.

• 56% of respondents struggle with the idea which creates a serious disconnect.

• There are more questions than answers right now.

Social Media Data

For businesses looking to leverage social data to their own advantage, applying these basic analytics hacks can be a good place to start:

1. Filter out the noise

2. Find high priority social media mentions (Tweets from influential users, stories regarding your business, or urgent customer requests.)

3. Reduce information to a manageable stream.

4. Setup alerts for high volume mentions. (Could be good or bad.)

Track sentiment!!!Group together positive, neutral and negative comments.

Use Visuals!.

Where are we going?

Big Data Tools

Affordable Visualization ToolsThese tools have started to democratize the kinds of insights once available only to the tech-savvy few.

Future of Big Data

1.Big Data Visualization will power Big Data

2.People will INTERACT with their data

3.New business findings

4.New data-oriented mind set in the business world

5.Automatic recommendations for A/B testing when there are peaks and valleys in your data

Think Big!

50 W. Liberty St., Ste. 800, Reno, NV 89501 | 775.883.6000 phone | noblestudios.com

Contact Us With Your Questions.

Jarrod Lopiccolo - Big Data

Marketing