Real life for Big Data: what is data science about?

Irina Muhina,

PhD in AI with 25 years practical experience,

Big Data and STEM Expert, Founder of iECARUS,

President of ERUDITE school

iECARUS is your concierge for educational intelligence.

www.iecarus.com

February, 2016

Agenda

• What is the Big Data ? • What are the real life dimensions for Big Data ?

- return on investment (ROI)

- amount of real-time data

- demand for data scientists job and average compensation packages

- expectations for the data scientist

• Case studies and tools using Big Data examples from industries: – Trading strategy analysis – Parametric and distribution analysis – Two-regimes risk model – Correlation analysis with different cut-off

– Optimization models with re-sampling •How to use Big Data for STEM ?

What is Big Data ? Gartner model

Who is a Data Scientist ? • Works more closely with multiple teams when compared to

statisticians • always expected to work with types of big data — operational

technology, text, streaming • Combinations of mathematics, statistics, machine learning and

algorithmic processing • Demand for communication skills much more frequently than BI

or statistics roles • Have to be able to code, write and present well

Current roles:

• Solution architect • Business analyst • Requirements analyst • Data modeler •Data integration lead •Data integration developer •Report writer •BI platform lead •Database administrator •User trainer •Data steward

Real projects using Big Data

case studies and tools from industries

• Trading strategy case study • Parametric and distribution case study • Two-regimes risk model case study • Correlation analysis with different cut-off • Optimization models with re-sampling

Analytical Tools

Excel, SAS, SPSS, R , SQL, Tableau, MatLab, Watson , Hadoop

Daily price crossing 50D EMA of ACWI seems to be a good strategy

Price crosses EMA from below, go overweight Price crosses EMA from above, go underweight

Different trading strategies analysis

Trade benefit VS Trade length Bad trades tend to be very short, i.e. occur when the model is switching between overweight and underweight rapidly

Expand your analytic capabilities Gartner

• How to use Big Data for STEM ? Emerging Role of the Data Scientist the Art of Data Science for IT,

business The Birth of Infonomics, the New Economics of Information