unlocking the big promise of big data

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UNLOCKING THE BIG PROMISE OF BIG DATA

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UNLOCKING THE BIG PROMISE OF BIG DATA. What is big data?. Big data is the term for a collection of  data sets  so large and complex that it becomes difficult to process using on-hand database management tools or traditional data processing applications . - PowerPoint PPT Presentation

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UNLOCKINGTHE BIG PROMISE

OF BIG DATA

What is big data?

Big data is the term for a collection of data sets so large and complex that it becomes difficult to process using on-hand database management tools or traditional data processing applications.

-- From Wikipedia, the free encyclopedia

Sources of big data

Well-known challenges in pushing data out

• Privacy• Fairness• Inclusiveness• Incentive alignment

• Bureaucratic efficiency• Politicism• Interest-group dynamics• Capability building• Maintaining stability in

staple services

Registering resources

Gun permit holders in Westchester County, NY

Source: The Journal News in a Dec 2012 Freedom of Information Act Request

Registering resources

Gun permit holders in Westchester County, NY

• Accurately accounting for resource value

• Dynamically protecting privacy

New challenges in pushing data out

• Finding kernels of value• Managing user quality of inference• Making insights actionable• Meeting the expectations of users• Developing capabilities for responding to

escalating expectations• Protecting privacy dynamically

Challenges in getting data in

• Does the available data accurately represent the broader decision framework?

• What questions can be addressed by the data?• Who should control datasets and the data that

they generate?• How should organizations be designed to take

advantage of big data?…

Crowdsourcing

• Evaluating the quality of suggestions• Developing criteria for choosing

among legitimate alternatives • Implementing

Crowdsourcing

Social media

Social media

• Encouraging goal adhesion • What’s true?

The tip of the iceberg

• Assuring stability in the delivery of essential services

• Enabling fair and effective process• Negotiating and aligning incentives• Narrowing scope for experimentation • Expanding scope to scale up subsequently

Familiar issues in innovative governance

Case study: Innovative governance at Banc One under Jamie Dimon

• Formula: – Fix the company’s balance sheet– Cut costs– Hire talented managers– Motivate the workforce to act as owners rather than employees

• First three months– $57m stock purchase– Follow-up list (one sheet of paper)– Middle office; keeps predecessor in office– Meetings: “show me the data you are looking at”– Capital markets: meet every day for 3 weeks– Balance sheet and earnings– Plan to realign incentives; incentives over bonuses but no comp cuts– 2000 and 2001 restructuring charges; cancelled dividends– Hiring; identifying his team (Michael Cavanaugh; Charlie Scharf)– Executive Management Report (EMR)– Risk analysis– Fix transfer pricing– Diagnoses the return on investment is lower than the cost of capital– NOT strategic vision, IT or detailed solutions; leave customer-facing personnel alone– Take the CFO position himself– Cancel vendor contracts– Cancel WSJ, gym memberships and exec perks

Case study: Failed governance at Kodak under five CEOs

Value creation

Time

Fragmentation

Shakeout

Maturity

Disruption

Big data and shared responsibility: innovative governance

• Identifying climate-change hot spots• Remediating financial instability • Catching epidemics early• Expanding the capacity of public utilities• Focusing pharmaceutical research• Improving personal and community security • Forecasting (weather, migration, election results)• Improving education• Managing traffic and public transportation

New issues of innovative governance

• How can we use transparency to improve outcomes? What’s the right balance between transparency and hierarchical process?

• When does advocacy promote fairness?• How do we evaluate competing organizational

models for allocating decision rights?• What partnering capabilities are required for

innovating effectively?

Calls to action

Calls to action

• Politicization; dilution of public authority and responsibility

• Embracing the emotionality of advocacy

Public goods

Public ‘bads'

Congestion

Access

Investment

Competition

A gradual transition from driving on the left to the right

The promise

• Relieved congestion• Fairer and better access • Constructive competition• More efficient and effective investment