Big Data: Getting SmarterCharles MokLegislative Councillor (Information Technology)

2016.4.30 @ HKUST MBA course sharing

Datasets getting bigger

Big Dataecosystem is maturingBig Data startups received $6.64B in venture capital investment in 2015, 11% of total tech VC.

Convergence of cloud, analytics, mobile and social technologies

Are these your questions?1. How can it help enterprise stay competitive?

2. How to drive innovation, growth & transformation?

3. How to integrate big data into operations and business development while keeping costs low?

How can big data help meet business goals?

Reduce cost

Improve productivity

Customer acquisition

and expansion

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Next-gen sales and operations planning

Improved segmentations to up-sell and cross-sell

Process and information automation

Is big data still THE thing in 2016?

Plateau reached?

New hype?AI, machine intelligence, deep learning…

Enterprise tech:Legacy infrastructuremakes deploymentcomplicated

Now that I have data, what insights am I going to extract from it?

Data: The More the Better?

Size is no longer king

content and context more important

time, location, associations, links, interdependencies, etc.

Problem arises

structured data (your company's proprietary

information) x unstructured data (public sources such as

social media streams and government feeds)

= ?????

Data cleansing, labeling and organising become essential before the data is made USEFUL New opportunities / business?

Example: Big Data for Financial Modelling

Boutique firm specialises in providing non-traditional / alternative data

From social media buzz to satellite images, mined by cutting-edge computer scientists

Allows new insights for investors and analysts, users can develop their own valuation model

Help analyze massive amounts of data and derive predictive insights…

and help data scientists to do a quicker and better job.

AnalyticsThe rise of algorithm & AI to handle unstructured data for

business intelligence

Example: FinTech

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The flowAggregate Anonymize

Analyze

Data from business operations

Media

Customer engagement

Actionable Data

Experiment DeploymentProcessesDiscoveriesDecisionsApplications

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How can big data increase ROI?

• More precise decision-making• Real time analysis and capture

opportunities• Value-adding and knowledge management

Emerging trends in big data

IoT, Cloud and Big Data

come together for real time analytics consumer can use

Chatbots are taking over: Big tech companies’ new battling ground

DigitalGenius: chatbot startup raised US$4.1 million funding early April 2016 harness the technology for automating customer service operations.

Requires combing through lots of data and returning an answer by machine learning

New government initiatives

Increase the Wi-Fi hotspots to over

30,000 in Hong Kong.

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Big Data x Open Data: Transport as case study

No Open Data, No Smart CityWhat can developers use at present?

Available for free - items in transport:

● Journey time indicators ● Speed map panels ● Traffic snapshot images ● Traffic speed map● Routes and fares of public transport

● MTR routes, fares and barrier-free facilities

● Electric vehicle charging station locations

Upgrade of TIS in the next few years to support real time data,analytics, and…

Open data?

Overseas: government support to sharing real time data/API

What difference does it make? In HK we have an approximate

In Tokyo and London, we get real time info

Policy perspective: Big data / Open data

Access to informationTransparency

ParticipationA better citizen experience for a more connected citizenry

Big Data and Citizen Engagement

• Public participation system

• Smart Engagement: Polling and data mining

• Identify public opinions for targeted policy initiatives

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Use of personal-identifiable data- growing concern for consumers- focus for regulators- battleground for consumer trust

Companies need to proactively respect and protect consumer data 

Thank Youcharlesmok@charlesmok.hkFacebook: Charles Mok 莫乃光www.charlesmok.hk