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BIG DATA, SMALL STRATEGY
Strategy by experimentation
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hello
/ Mark Bjornsgaard/ Director Fluxx Adventures/ Technology incubator/ Invests in our own ideas
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The next 30 mins…
/ Part 1 – A brilliant theory (10mins) What we mean by Big Data? How does it really work? In the real world
/ Part 2 – The real story (10mins) The 7 things they don’t tell you about using big data
/ Part 3 – Strategy by experimentation (10mins)
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WHAT WE MEAN BY BIG DATA?
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Big data
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What is the data in big data?
Big Data Sets
Sales data (epos and
online)
Web analytics
Advertising analytics
CRM databases
Machine data –
website logs
Unstructured social data
Documents and email
Sensor data
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How does data become big?
Volume
VarietyVelocity
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A definition…
“Data that’s an order of magnitude bigger than were accustomed to”
“Data that exceeds the processing capacity of conventional database systems. The data is too big, moves too fast, or doesn’t fit the structures of our database architectures”
“A set of technology advances that have made capturing and analysing data at high scale and speed vastly more efficient”
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Like its 1996 all over again…
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HOW DOES IT REALLY WORK?
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How does it work?
R HadoopData scientists
Big data is…..“ A set of technology advances that have made capturing and analysing data at high scale and speed vastly more efficient”
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How does it work?
Your data
“big data”
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How does it work?
Your data
“big data”
Category 1 Category 2 Category 3 Category 40
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IN THE REAL WORLD
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Then – have a sale Now – target individuals
In…Retail
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Then - pipelineNow – triangulate multiple data sets to identify targets
In…online marketing
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Then – data locked in unusable formats
Now – rich, real time analytics
In…IT
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Then – paper validationNow – telematics and unstructured data
In…risk and fraud management
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Then – gut instinctNow – crime hotspot identification
In…law enforcement
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Then – keyword searchesNow – semantic and NLP “understanding”
In…medical research
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Then – subjective “truth” Now – objective insight
In…sports
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PART 2 – IN THE REAL WORLD
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90% of colleagues don’t really care (and probably never will)
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A Vanguard doesn’t really exist!
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Use cases are still limited
Big Data
Digital marketing
Data exploration
and discovery
Fraud detection
and prevention
Social network and relationship
analysis
Machine-generated
data analytics
Data retention,
data archiving
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Hires are scarce…
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R and Hadoop aren’t for everyone…
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Big data only shows us what’s not obvious…
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Using big data actually means….
/ Colleagues who are biologically pre-programmed not to care
/ No best practice to rely on/ Very specific use cases within business/ Hiring aching expensive people/ To use a software anyone with an IQ of less than 150
shouldn’t go near/ All in the cause of…..looking for non conclusive,
obscure patterns, which may or may not lead to any business value
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PART 3 – STRATEGY BY EXPERIMENTATION
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Strategy by experimentation
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1. Set aside some time (and budget)
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2. Find a partner you trust
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3. Get everyone involved
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4. Identify a business issue you have…
Why is the ROI on my CPC account
declining?
What kind of people make the
largest purchases?
How can I drive sales of
recommendations in the check out
process?
There’s always a sales spike on
Thursday evenings – why?
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5. Identify data sets which might hold clues
Adwords data
Web analytics data
Brand tracking
Transactional data
Store footfall
Social data
There’s always a sales spike on
Thursday evenings – why?
Logistics files
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6. Play detective
Patterns CorrelationsRelationships
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7. Rinse and repeat
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8. Re-humanise the story…
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9. Shout about it
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10. Enjoy the journey
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To summarise
/ Define big data for yourself – see how it could apply to you
/ Accept the challenges/ Start small, grow and publicise success
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Thank you!