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Innovation Work Circle:
Big Data
Presented By:Innovation Work Circle Group
What is Big Data Circle Vision?
The challenge we face in data processing, by adopting the traditional data processing tools and ideas, are tackling the 4 V's – Volume, Velocity, Variety and Veracity. The objective of this innovation circle is to look at these real world problems in the CRM sector for various domains and ideate, conceptualize, develop and apply Big Data tools to solution them.
Big data is a broad term for data sets so large or complex that traditional data processing applications are inadequate.
What are the Steps to take to achieve Vision?
Brainstorm within the innovation circle to get ideas
Identify the target areas to apply Big Data concept, w. r. t. CRM
Narrow focus to selected areas out of all the collated ideas
Conceptualize on them in order to develop a working model
Present model visualizations to core team for acceptance
Develop implementation plan on accepted models
What is Big Data?
Big data is an all-encompassing term for any collection of data sets so large or complex
that it becomes difficult to process them using traditional data processing applications.
The challenges include analysis, capture, curation, search, sharing, storage, transfer,
visualization, and privacy violations.
Why is it needed?
Need for Big data to get right information
to identify the right markets and customers at the right time
enable institutions to make the right strategic decisions
Numbers tells the story We create 2.5 exabytes of data everyday [1 exabyte = 1TB x 1024 x1024]
The Big data market is expected to grow to $32.1 billion dollars by 2015 & to $53.4 billion by 2017
90% of the data in the world today has been created in last two years alone
62% companies believe that Big data has significant potential to create competitive advantage
Four V’s of Big Data
Key benefits of Big Data
Use Cases of Big Data
Thank You