Here’s a short transcript of Craig Stire’s keynote presentation yesterday at the Big Data CIO Forum. The sound clip is available below.
Big Data is a very interesting topic because it’s something that many people are hearing for the first time and it’s getting a lot of attention.
Big Data as a concept is not really that new, it’s just seeing a different light.
Big Data. We can think of it as an ecosystem that runs from left to right. At some point, new data is being created. How is this different from analytics? How is this different from data warehousing? How is this evolving?
We have wearable technology, we have door sensors, we have machines that have sensors. Some of the data are just sitting in source.
Geolocation data is exploding. Say you’ve got a restaurant app or you’re using a maps application, then the app asks you to share your location.
ERP, Supply Chain Management, CRM in the enterprise is also growing at a fast rate.
Social media usage is growing.
4S: volume, variety, velocity, and value
Big Data can provide a company deeper insights about its customers. What’s the next best offer I can give this person?
We see a lot of visualization vendors. Modeling scenario, forecasting, visualization. Ability to take that’s something over time and lay it over a map.
Every time you swipe your credit card, the banks have just about 1-2 seconds to approve or decline. How much sophistication can they put in the backend to reduce the false negatives?
Water management, power management, traffic flow management, immigration check points. People no longer touch those systems. These systems are being optimized and automated without people no longer touching the systems.
#1 source of data is transactional data, followed by user-generated, which comprise 60% collectively, sourced from emails or social media, for instance, and then there’s machine-data.
There’s going to be a huge growth with Hadoop.
What do we keep? Everything has a cost. Once you capture it, there’s a cost involved. We know there’s some value, but a lot of companies still don’t know what they’ll do with their data.
Only about 27% of organizations are investing in analytics software.
Trends Among Big Data Leaders
Hyper-competition, regulation, analytics sophistication
HK – IaaS investments, Telco asset utilization, FSI risk
SGP – FSI microsegment, Telco LBS & data monetization, ICA
AUS – FSI personalization, Telco psycho-graphic, Data privacy
NZ – Emergency services, SME SaaS, Fleet management, Farm asset management
Trends Among Big Data Midstream
Mass urbanization, ‘first-measured’, neighborly pressure
KOR – M2M automation, Manu QC, Government NLP audio analytics
PRC – Web 2.0 (ABT)xacts, City CCTV, FSI microfinance
TWN – Smart Tourism, Data Privacy, Manu process control
IND – Citizen registration, banking the unbanked, Big Data insource
Trends Among Big Data Starters
Infrastructure build out, volatile government spend, modernization
THL – Police CCTV, Telco Iaas builds, Manu M2M capture
VN – DC investment, digitization of paper forms
PHL – Telco regional coverage analysis, relationship mapping
MYS – DataSci skills, Vendor IaaS builds, Telco ARPU, travel offers
IDN – Digitization of paper, Manu supply chain opt, Telco peer maps
What can we be doing with Big Data? Is it real for us? What can we do to really transform our business?