leading with data: boost your roi with open and big data

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  1. 1. Leading with Data: Boost Your ROI with Open and Big DataJoin the conversation with @MHBusiness @sonnytambe @JoelGurin Use #worksmarter
  2. 2. 2
  3. 3. Find me at OpenDataNow.com and @joelgurin3
  4. 4. Setting the Stage My Journey Through the Datasphere4
  5. 5. Setting the StageThe GovLabs Central Hypothesis When governments and institutions open themselves to diverse participation and collaborative problem-solving, and partner with citizens to make decisions, they are more effective and legitimate.
  6. 6. Setting the StageOpen Data: Accessible, public data that people, companies, and organizations can use to launch new ventures, analyze patterns and trends, make data-driven decisions, and solve complex problems.6
  7. 7. Setting the Stage Open Data Changes the World For: Entrepreneurs Established businesses Governments Investors Scientists Journalists Consumers7
  8. 8. Setting the StageWhat Open Data Isnt Big Data Open Data Open Government Big Data: Really, really big datasets Open Government: Transparency, participation, collaboration with or without data8
  9. 9. Setting the Stage9
  10. 10. Liberating Federal Data
  11. 11. Federal Data Open Data Becomes a Priority[Open Data is] going to help launch more businesses. . . . Its going to help more entrepreneurs come up with products and services that we havent even imagined yet.President Barack Obama11
  12. 12. Federal Data Federal Data Today12
  13. 13. Federal Data The New Open Data Policy Presumption of openness Machine-readable Reusable Timely Developed with consultation13
  14. 14. Federal Data They Agree On The DATA Act14
  15. 15. Data-Driven States and Cities
  16. 16. State and City Data Help for K-12 HouseholdsBill Jackson, CEO 16
  17. 17. State and City Data17
  18. 18. Data-Driven CitiesHow Wired Cities Use New Data Optimize operations Monitor infrastructure conditions Plan infrastructure Public health Emergency management18
  19. 19. State and City Data Metro Chicago Data New York: The Mayors Geek Squad Code for Philly Palo Altos open finances19
  20. 20. State and City Data City Data: Next Bus for Commuters
  21. 21. State and City DataSim City Meets Participatory Budgeting
  22. 22. State and City Data DCs Experiment: A City Report CardWashington Mayor Vincent Gray 22
  23. 23. State and City Data Sharing personal data for public good Pulse Point: Enabling Citizen Superheroes23
  24. 24. Open Data Shapes Reputation and Brands
  25. 25. Reputation and Brands Social Media: 2 Billion Tweets a Week25
  26. 26. Reputation and Brands The Reputation PoliceMichael Fertik, CEO 26
  27. 27. Reputation and Brands Sentiment Analysis: Emotion Meets Computation27
  28. 28. Reputation and Brands Open Data from Consumer ComplaintsCourtney Powell and A.J. Fouty, cofounders 28
  29. 29. Reputation and Brands29
  30. 30. Reputation and Brands30
  31. 31. Driving Business Growth
  32. 32. Driving Business Growth Open Data Fuels Businesses in All SectorsHealthEducationFinancial ServicesEnergy UseTransportation 32
  33. 33. Driving Business Growth From Weather Insurance to Green RevolutionClimate Corporation offices in San Francisco 33
  34. 34. Driving Business Growth 40K Public Companies, Updated Daily34
  35. 35. Driving Business Growth Healthcare: The Next Big Frontier?35
  36. 36. Driving Business Growth36
  37. 37. Driving Business Growth Data for Energy SavingsOgi Kavazovic, VP Marketing & Strategy 37
  38. 38. Driving Business Growth Managing Open Data: A Winning Strategy38
  39. 39. Finding the Value: The Open Data 500
  40. 40. Open Data 500 Whats the Value of Open Data? McKinsey study: $3 trillion annually worldwide 30 to 140 billion euros for Europes public sector data 2 to 9 billion British pounds $30 billion for U.S. weather data Tens of billions for U.S. GPS data Hundreds of billions for U.S. health data40
  41. 41. Open Data 50041
  42. 42. Open Data 500 Open Data 500: Assessing the Value Rigorously Criteria: U.S. based National or regional scale (mostly federal data) Open Data must be key to business More than 500 companies contacted so far Wide range of sectors covered Partnering with Open Data Institute to replicate in the U.K. Interest from 15 other countries at Open Government Partnershipwww.OpenData500.com 42
  43. 43. Open Data 50043
  44. 44. Big Data and HR Prasanna Tambe NYU Stern School of Business ptambe@stern.nyu.edu Leading with Data: Boost Your ROI with Open and Big Data February 26, 2014
  45. 45. Existing sources of HR data Data collected during recruiting, hiring Data routinely collected by organizations employment histories (resumes), skills, interview and test evaluationsperformance reviews, task and project evaluationsAdministrative labor market data regional and industry data on skills, wages, occupations
  46. 46. But digital breadcrumbs are creating a data revolution (courtesy Erik Brynjolfsson)Clickstream/Page views/Web transactions Email messages Mobile phone/GPS/Location data Web links/Blog references/Facebook Google/Bing/Yahoo Searches ERP/CRM/SCM transactions RFID (Radio Frequency Identification), Bar Code Data Real-time machinery diagnostics/engines/equipment Stock market transactions Twitter feeds Wikipedia updates Online Databases of resumes
  47. 47. Emerging sources of HR and workforce data Online/Internet data Digital traces from work activities internal knowledge boards, internal corporate network activity, finegrained measures of project and task performanceSocial and physical network data labor market level information on skills and experience, discussion board posts, software and projects posted onlineemployee referrals, person-to-person communications, sociometric badges, email networks, internal digital chatter, video and camera dataData generated through new assessment tools online assessment (e.g. MOOCs), test-based video games
  48. 48. Vast increase on data on spatial and temporal movements Micro-measurement of personal productivityTeam productivityOrganizational productivity
  49. 49. http://www.flickr.com/photos/walkingsf/sets/72157623971287575 /
  50. 50. How can the big data "microscope" aid workforce related decisions? Remove cognitive biases and reliance on intuition W don't know what makes us productive (especially e information workers)Enables quantification of the impact of HR-related decisions W is our inability to retain engineers costing us? hat
  51. 51. How are employers using analytics? nownear future?Predicting retention/turnover for high-skill employeesWhere are we likely to have skill gaps in ten years?How desk location affects information flowsWhat is the return on investment to a specific HR policy?Using internal communications to predict employee performanceCan applicant profiles based on Internet data outperform traditional 'signals' (e.g. education)?What (other) job titles predict success in the opening I am trying to fill?
  52. 52. Lessons learned (so far)Data is not a substitute for conceptualizationKnowing the right questions to ask (domain expertise) is critically importantThe interest in analytics is likely to outpace results in the short-run as employers put the right pieces in placeBut we are likely to see a significant increase in the number of ways data is used for HR-related decision-making within a few years
  53. 53. Potential barriers to using analyticsA new generation of technical and analytic skillsCollection and management of new data sourcesPolicies regarding data collection and use (privacy)
  54. 54. Questions?Dont forget to sign up for the next event: http://bit.ly/mhpworksmarterAvailable in print and eBook

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