what the heck is big data?

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Copyright 2014 by Saurage Research, Inc. All rights reserved. No part of this document may be reproduced by any means whatsoever without permission in writing from Saurage Research, Inc. Susan Saurage-Altenloh October 2014 Bamboozled or Just Buried by Big Data?

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Page 1: What the Heck is Big Data?

Copyright 2014 by Saurage Research, Inc. All rights reserved. No part of this document may be reproduced by any means whatsoever without permission in writing from Saurage Research, Inc.

Susan Saurage-Altenloh October 2014

Bamboozled or Just Buried by Big Data?

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• Definition

• History

• How big is it?

• The promise of big data

• The limits of big data

• Primary players

• What we are learning

• Uses and applications

Our Path Today

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• Big data are extremely large data sets that may be analyzed computationally to reveal patterns, trends, and associations, especially relating to human behavior and interactions.

• Big data is an all-encompassing term for any collection of data sets so large and complex that it becomes difficult to process using traditional data processing applications.

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Confusion

"...nobody seems quite sure exactly what the phrase means, beyond a general impression of the storage and analysis of unfathomable amounts of information, but we are assured, over and over, that it’s going to be big.“ --The New Yorker

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Just sayin’….

Big data is a vague term for a massive phenomenon that has rapidly become an obsession with entrepreneurs, scientists, governments and the media. -- Financial Times Magazine

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Growth, however, is not vague.

http://www.eweek.com/imagesvr_ce/eweek/images/stories/slideshows/036912_bigdata/02.jpg

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Historically Speaking

• Term “big data” gained currency in 2008

• 2012 was crossover year to use of big data

• Data expansion issues began early 20th century

http://www.forbes.com/sites/gilpress/2013/05/09/a-very-short-history-of-big-data/ Images and timeline data points in this presentation extracted from http://www.winshuttle.com/big-data-timeline/

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The 1880 U.S. Census took eight years to tabulate!

First Big(ger) Data

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1989 – Business Intelligence

In 1989, Howard Dresner defined BI as "concepts and methods to improve business decision making by using fact-based support systems". Not long after, companies such as Business Objects, Actuate, Crystal Reports, and MicroStrategy began to emerge, offering to report and analyze company data. Source: A Brief History of Decision Support Systems by D.J. Power.

http://www.winshuttle.com/big-data-timeline

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1997: The term "big data" was used for the first time in an article by NASA researchers Michael Cox and David Ellsworth. The pair claimed that the rise of data was becoming an issue for current computer systems. This was also known as the "problem of big data". Source: Application-Controlled Demand Paging for Out-of-Core Visualization.

http://www.winshuttle.com/big-data-timeline

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2001 – The 3 V’s

Gartner Analyst Doug Laney published a research paper titled 3D Data Management: Controlling Data Volume, Velocity, and Variety. Even today, the “3Vs” are the generally-accepted dimensions of big data.

http://www.winshuttle.com/big-data-timeline

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How big is it?

The reason scarcely anybody used to talk about Big Data is that, until very recently, it didn’t exist—most data had been, by current standards, small potatoes. Now, Big Data is mainly measured in terabytes (trillions) and petabytes (quadrillions); within a decade, even those numbers may seem quaint. -- The New Yorker

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2007 – Zettabyte Defined

From Wikipedia, the free encyclopedia

The zettabyte is a multiple of the unit byte for digital information. The prefix zetta indicates multiplication by the seventh power of 1000 or 1021 in the International System of Units (SI). Therefore one zettabyte is one sextillion (one long scale trilliard) bytes. The unit symbol is ZB. 1 ZB = 10007bytes = 1021bytes = 1000000000000000000000bytes = 1000exabytes = 1billionterabytes

A petabyte is the equivalent of 1,000 terabytes, or a quadrillion bytes. One terabyte is a thousand gigabytes. One gigabyte is made up of a thousand megabytes. There are a thousand thousand—i.e., a million—petabytes in a zettabyte. Ouch.

http://www.winshuttle.com/big-data-timeline

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Seminal Article in Wired Magazine

http://www.winshuttle.com/big-data-timeline

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Google Flu Trends

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2009 – Business Intelligence Becomes a Priority

Source: Gartner.com

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2010 – ERP Arrives in the Cloud

http://www.winshuttle.com/big-data-timeline

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2011 – Growth of Data Storage at Enterprise Level

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Big Data Players

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2012 – Information Society Expands

http://www.winshuttle.com/big-data-timeline

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Growth Drivers

http://cdn.news-sap.com/wp-content/blogs.dir/1/files/SAP_Big_Data_E4.jpg

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2013 – Cloud ERP is Adopted Broadly

http://www.winshuttle.com/big-data-timeline

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Big Data Growth is Accelerating

http://www.tech-dynamics.com/solution-overview/big-data/

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Where do we go from here?

http://esj.com/articles/2014/07/10/big-data-analytics-moving-to-cloud.aspx

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2014 – The Future of Big Data

http://www.winshuttle.com/big-data-timeline

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The Promise of Big Data

Four claims: • Data analysis produces uncannily

accurate results • Every single data point can be captured,

making old statistical sampling techniques obsolete

• It is passé to fret about what causes what, because statistical correlation tells us what we need to know

• Scientific or statistical models aren’t needed because, “with enough data, the numbers speak for themselves”

https://www.ft.com

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Dark Data

Information assets that organizations collect, process and store in the course of their regular business activity, but generally fail to use for other purposes

Definition by Gartner

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The Limits of Big Data

• Statistics don’t lie

• Errors do exist

• Manual computations required

• Complexity degrades models

• Correlations differ from causality

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Barriers to Capitalizing on Big Data

A big thanks to Tata Consulting Services http://sites.tcs.com/big-data-study

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Big Data Applications

http://i2mag.com/big-data-infographic/

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Branding, ROI and Big Data

Big data builds

community

Big data fosters culture (customer and

employee retention)

Big data drives

revenue Better

Decisions

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Returns on Big Data (emerging)

A big thanks to Tata Consulting Services http://sites.tcs.com/big-data-study

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Social Data Insights from Big Data

Real-time Market Mood

Relevant Issues and Content

User Interests

Internal Operational Metrics

Competitive Research

https://www.marketingtechblog.com

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BI and Online Marketing Integration

Incremental Sales

Visitor to Buyer Ratio

Tracking Keywords

Social Media

Cost per Lead

ROI

Sales of Lead Source

Conversions by

Campaign

The Basics

http://www.huffingtonpost.com/jayson-demers

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Big Data for Marketers in 2014

• 360 degree view of the customer • The Internet of Things • Data warehouse optimization • Big data service refinery • Information security

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About the Presenter

Susan Saurage-Altenloh specializes in designing research strategies and producing results that meet clients' information needs – completely and exactly. Susan has gathered actionable data for a client list that includes nationally known medical facilities, large manufacturers and refineries, prominent financial institutions, municipal and national governmental agencies, and advertising/ marketing firms. The most notable ones – Tenet, Conoco, Cameron, the EPA, HP/Compaq, Chicago Board of Trade, BP, Exxon, Dow, Siemens Transmission Products and McDonald’s – include several Fortune 500 companies. Susan has authored several articles appearing in national and regional business publications and regularly appears on television as an expert in market information and research trends. She is a graduate of the MBA program at University of Texas at Austin and graduated Magna Cum Laude from Houston Baptist University.