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

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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.

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

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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.

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Structured vs. Unstructured Data

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

Relational database is seamless and readily searchable.

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

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Hugely valuable but useless if unrefined

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What do we do with Big Data?

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

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

Volume. Velocity. Variety.

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Improve operational efficiencies from existing investments.

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Big Data + Mobile means new business opportunities

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How do we create predictable success?

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

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• 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.

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Big Data alone is like Big Hair…

You just stare at it.

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How did we get here?

The aid of two key macroeconomic trends

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

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

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Powerful technologies

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Accompanying data sets

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Analytical decision-making and execution.

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Difficulties became apparent.

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

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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

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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

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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.

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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:

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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.)

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

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Use Visuals!.

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Where are we going?

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Big Data Tools

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

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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

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Think Big!

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