what is big data about
Post on 22-Oct-2014
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A highlevel view of the 3V's in Big Data - for non-techiesTRANSCRIPT
WHAT IS BIG DATA ABOUT If you don’t work in marketing?
By Miriam Gilbert Storytelling with Numbers.com tweet: MiriamRGilbert
MORE DATA THAN EVERThe volume of data is
growing exponentially
By Miriam Gilbert
Storytelling with Numbers.com
tweet: MiriamRGilbert
MAKE DECISIONS SIMPLE?
But the reality looks
different…
By Miriam Gilbert
Storytelling with Numbers.com
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DATA ON ITS OWN IS USELESSWe need skilled
interpretation to give it
meaning
By Miriam Gilbert
Storytelling with Numbers.com
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WHAT MAKES DATA BIG?It is not all about size
alone.
By Miriam Gilbert
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THE 3 “V’s” OF BIG DATA (a phrase coined by Gartner in
2001, now widely accepted)
By Miriam Gilbert Storytelling with Numbers.com tweet: MiriamRGilbert
VOLUME = AMOUNT OF DATA
The volume is going up through the internet of things:
objects embedded with sensors and the ability to
communicate with each other.
By Miriam Gilbert
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VELOCITY = SPEED OF DATA IN & OUT
More than real-time analytics, velocity is about the rate
of changes, about linking data sets and about bursts of
activities, rather than habitual steady tempo.
Plus, data forms its own networks, where it influences
other data, which creates more data and decisions.
By Miriam Gilbert
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VARIETY = RANGE OF DATA TYPES & SOURCES
New data sources like social media and the internet
of things add huge variety of data.
By Miriam Gilbert
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SOMETHING IS MISSING: How to turn big data into
something useful for business?
By Miriam Gilbert Storytelling with Numbers.com tweet: MiriamRGilbert
AVOID NAVEL GAZING
Big data has to solve business issues – otherwise it’s
just an expensive IT hobby
By Miriam Gilbert
Storytelling with Numbers.com
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VALUE: WHAT AND WHY
Don’t just start measuring – be clear what your
burning issue is and what you need to know to
address it.
The why and what might not be straightforward to see
– look at it “sideways”.
By Miriam Gilbert
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VERACITY: TRUST, BUT VERIFY*
*old Russian proverb
How can you act on information if you don’t trust it?
With data coming from new and different sources,
you need new ways of verifying what the data tells
you.
By Miriam Gilbert
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CONTEXT
Evaluate data in context: Facts might not be true in
all circumstances, and old data might have value
despite being outdated.
By Miriam Gilbert
Storytelling with Numbers.com
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EXAMPLE USES OF BIG DATA OUTSIDE OF MARKETING
Utilities: e.g. Smart Meters
Banking: e.g. Fraud detection
Insurances: e.g. in-car boxes for flexible
premiums based on driving
behaviour
Property management: e.g elevator logs to predict
empty properties
And a gazillion more!
By Miriam Gilbert
Storytelling with Numbers.com
tweet: MiriamRGilbert