Putting Big Data To Work
Bill Franks
Chief Analytics Officer, Teradata
August 2014
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Big Data Market Trends
Applying Basic Analytics
Principles
Keeping Big Data In
Perspective
Putting Big Data To Work
Q & A
Agenda
•
Who Cares???!!!
•
Results count, not definitions
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Start From The Right Perspective …
…Data Doesn’t Lead You To A Business Problem...
Yes…
Is A Big Data Bubble Ready To Burst?
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Creating Magic …
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Perspective: Analysis Versus Reporting
Analysis
Provides Answers
Provides What Is Needed
Typically Customized
Involves A Person
Extremely Flexible
Reporting
Provides Data
Provides What Is Asked For
Typically Standardized
No Person Involved
Fairly Inflexible
Running reports is not analysis.
What is Advanced Analytics?
What
happened?
When
did ”X” happen?
What was the
impact
of “X”
Why
did “X” happen?
When will
“X” happen again?
What
caused
“X” to happen?
> An
iterative, flexible
approach to solving
business
problems
> Spanning
ad-hoc
sql, advanced
statistical
methods, & data mining
> Attempts to quantify the
cause
of events &
predict
them
> Improves business results via
fact-based
decisions
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You Must Commit To Using Analytics
•
No cherry picking!
•
Use the results of great analytics no matter the outcome
The First Step:
Framing The Problem Correctly
•
Most analytic efforts are a success or failure before they start
•
Framing the problem correctly is critical as is developing a
solid analysis plan
•
It is easy to answer the wrong question well or to execute a
poorly designed analysis perfectly
What is the goal?
What data is required?
Have all alternatives
been considered?
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Framing: How Should Profitability Be Defined?
$30 per Month…Let Him Go?
Here He Is…
He Influences…
$120/mo & $7,600/mo in circle
$90/mo & $5,300/mo in circle
$150/mo & $10,400/mo in circle
> Often automatically generated by a machine
> It is typically an entirely new source of information
As opposed to an extended collection the same old data
> It is not always designed to be friendly, if it is designed at all
> Large swaths of big data may not have a lot of value
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The Power Of Big Data …
Setting Your Big Data Strategy
Big data must be another facet of your enterprise
data & analytics strategy
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Understanding Big Data
Analytics with big data is …
… Wait for it …
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Recommendations
•
Focus on analytics needs first
o
… and let the data follow from there
•
Take the time to define the problem
o
… and the time to design a good solution
•
Start small
o
… but be prepared to invest in your successes
•
Expect to deal with a wide range of data
o
… both big and not so big
•
Have confidence
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