What is Big Data
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Transcript of What is Big Data
Hani Saif, CIO eXtra @hanisaifhanisaif
BIG DATA
Facts
Facts90% of the data in the world today was created in the last two years .
US healthcare can save $300B yearly if they leverage big data
2016 :6 Million job will be created to serve new data (2 M IT and the rest non IT)
The total volume of data that the industry captures and stores, gets doubled in every 1.2 years.
Source: GSMA_Global_Mobile_Economy_Report_2015
Facts
FactsFor a typical Fortune 1000 company, just a 10% increase in data accessibility will result in more than $65 million additional net income.
Within five years there will be over 50 billion smart connected devices in the world, all developed to collect, analyze and share data.
Retailers who leverage the full power of big data could increase their operating margins by as much as 60%.
Facts
Content is a cost
But data is an opportunity
What is the Big data voluminous amount of
structured, unstructured and semi-structured
dataCannot be stored
in RDBMS
Three Characteristics of Big Data 3Vs
Volume
Velocity
Variety
Data at scale Teradbytes to Petabytes “facebook 25TB of data daily”
The speed at which new data is generated “500 million tweets daily”
Data is usually in various formats, structure and unstructured Audio file ,Video file“Text messages , location coordinates ..etc”
Traditional data vs Big Data
Traditional Data• Control on data creation • Manageable volume• Structured ,RDBMS is the right tool• Query Language can be used •
Big Data• Uncontrolled creation of data• Very large volumes • Unstructured, need different tool to
manage• Query language cannot be used
Where does these data go ?Big Data
Repository
Data Processing
Business Analytics Software
Actionable Data
From Row Date to Actionable Date
Demand Forecasting
Inventory Forecasting
Trend Forecasting
Dynamic Pricing
Planning Product Promotion
Timely Offers
Big Data
How does big data works
Identifies the Prospect via Smartphone Etc.
Looks for Prospect
Location & Profile
Information
Feeds the Profile of Prospect into Real-Time Expert
System
Big Data Repository
AnalysisProcessing
Offer the best deal for this individual customer
25% off on bundle book
purchase
New book Arrived on author
“X”
Gift CouponOn birthday
35% off onPre-Holiday
SeasonStart Offers
How to Process the data for Retailer?
“ The worst form of inequality is to try to make
unequal things equal ”Aristotle
Customer Segmentation
Predictive Modeling
Its not an either / Or decision
Customer segmentation is the practice of classifying your customer base into distinct groups. This separation of customers into unique groups is often based on multidimensional customer information such as; observed customer purchase and product usage behavior, demographic and lifestage characteristics, or even self-reported product / service preferences, needs and attitudes
Definition and Application
Source: IKNOWTION
Predictive modeling is the practice of forecasting future customer behaviors and propensities and assigning a score or ranking to each customer that depicts their anticipated actions. As is the case in segmentation, multi-dimensional customer information is leveraged to identify and isolate customer characteristics that are highly correlated with targeted outcomes.
Definition and Application
Source: IKNOWTION
This Lead to…… Retain Customers ..make them Loyal
Better marketing effectiveness
Having the right assortment
Better Inventory Optimization
Maximize the Sales
Maximize the Profit
Fraud detection
Big Data is
an IT Decision
A Business Decision
Sponsorship
Source: IBM
Don’t forget to measure the
Thank you for listening