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Australian CIO Summit 2012: A Strategic Approach To BIG DATA Analytics. Separating Hype from Reality by Ian Forrester, Managing Consultant, Inside Info
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A Strategic Approach To BIG DATA A Strategic Approach To BIG DATA Analytics. Separating Hype from Reality.
Ian Forrester, Managing Consultant, Inside [email protected]
Make every decision count
Some History...
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Some History...
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Source: Gartner Hype Cycle 2011
What It’s Not
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Source: Gartner Hype Cycle 2011
So what is
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& the 3 ‘V’s?
The amount of data is continuing
to increase...
Volume
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Business Insight
Variety
Data can be structured or
unstructured
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Volume
Business Insight
The speed of change
Velocity
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Volume
Variety
Business Insight
Is BIG DATA measuring up to its
promise?
more people have access to more data
creates business value more work
to be done
75%will increase investments in data analysis next year
73%have leveraged data to increase revenues
85%report obstacles in managing & analysing data
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Source: Avanade June 2012 Global Big Data Survey
in data analysis next year increase revenues
43% 57%
used data to create entirely new sources of revenue
used data to increase an existing revenue stream
84%report using Big Data has helped them make better business decisions
key trends causing companies to rethink their
data management strategy:
61%
social
65%
cloud
73%
mobile
Through New Business Models
• Data aggregators eg. Klout for influence analysis
Creating Business Value
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By Transforming Existing Business Models
Utilities
• Smart metering for mutual benefit (no brownouts, lower consumer cost)
Manufacturing
• Real-time product performance to drive concurrent engineering
Creating Business Value
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Financial Services
• Fraud detection
Retail
• Location based tracking & marketing
• Sentiment analysis
Big Data Challenges
Economist Survey
• Extracting value from Big Data remains elusive for many organisations. (53% of respondents only use ½ their available data today).
• Many companies struggle with the most basic aspects of data management such as cleaning, verifying or reconciling data across the organisation. (Nearly 1/3 have insufficient data governance).
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• The most common obstacle for companies in extracting value from data is that they have too much data & too few resources.
Harvard Business Review
• Analytic skills are concentrated in too few employees
• Reliable information exists, but hard to locate
• Executives don’t manage information as well as they manage talent, capital & brands.
Source:
The Economist, Big Data Harnessing A Game Changing Asset, 2011
Harvard Business Review, Good Data Won’t Guarantee Good Decisions, March 2012
Some Tips
• More data does not automatically translate
into better decisions
• People have limited capability to
concurrently assimilate an infinite number of
data points
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• Identifying the “information sweet spots” is
critical to drive better decisions
• Master small data before getting too
distracted on Big Data
Enablers
A Way Forward
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PeopleAlignment TechnologyGovernance &
Data
Enablers
PeopleAlignment TechnologyGovernance &
Data
Alignment
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• Start with the end in mind
• Align outcome with strategic intent
• Understand the important business questions that need to be answered
Enablers
PeopleAlignment TechnologyGovernance &
Data
People
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A different set of skills will be required to exploit the Big Data opportunity
• Data-centric business people who can ask the right questions
• Analysts who can analyse & interpret the data to deliver the answers
• Technologists who can build & support the technical infrastructure
Enablers
PeopleAlignment TechnologyGovernance &
Data
Governance & Data
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• Data is the lifeblood of BI – it needs to be clean, reliable & well understood
• Processes & structures to manage demand & change
Enablers
PeopleAlignment TechnologyGovernance &
Data
Technology
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Visualisation is Key!
• Drives efficiency by allowing assimilation of vast quantities of data rapidly
• Enables patterns to be identified easily
• Is fun & drives adoption & usage
Visualisation - 7 Deadly Sins
Greed Envy Wrath
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Greed Envy Wrath
Sloth Gluttony Lust Pride
Source: Kansas State University Geography/USACE
Big Data has always been around. What has changed is
the ability to make sense of it. Understand the evolutionary
process to get to Big Data – it’s a progression.
Evolution or Revolution
Big
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Basic
Tactical
Strategic
Immature
Big
Data