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BIG DATA is Dead.Vivion Cox, Co-founder, Klood Technology
What is big data?
“ Big data is a term that describes the large volume of data – both structured and unstructured – that inundates a business on a day-to-day basis.”
“ Big data is a term that describes the large volume of data – both structured and unstructured – that inundates a business on a day-to-day basis.”
“ Big data is a term that describes the large volume of data – both structured and unstructured – that inundates a business on a day-to-day basis.”
“ Big data is a term that describes the large volume of data – both structured and unstructured – that inundates a business on a day-to-day basis.”
“ Big data is a term that describes the large volume of data – both structured and unstructured – that inundates a business on a day-to-day basis.”
sas.com
“ Big data is high-volume, high-velocity and/or high-variety information assets that demand cost-effective, innovative forms of information processing that enable enhanced insight, decision making, and process automation.”
“ Big data is high-volume, high-velocity and/or high-variety information assets that demand cost-effective, innovative forms of information processing that enable enhanced insight, decision making, and process automation.”
“ Big data is high-volume, high-velocity and/or high-variety information assets that demand cost-effective, innovative forms of information processing that enable enhanced insight, decision making, and process automation.”
gartner.com
“ Big data describes a holistic information management strategy that includes and integrates many new types of data and data management alongside traditional data.”
“ Big data describes a holistic information management strategy that includes and integrates many new types of data and data management alongside traditional data.”
“ Big data describes a holistic information management strategy that includes and integrates many new types of data and data management alongside traditional data.”
“ Big data describes a holistic information management strategy that includes and integrates many new types of data and data management alongside traditional data.”
oracle.com
Our definition of Big Data
Very large sets of structured and unstructured data that are rarely used to create business insights.
*mostly it’s just additional cost for no value
Where are we now?
2003 2004 2006 2007 20101999
The term is popularised among the SGI high tech community (1996, 1997); slide deck for living talk by chief scientist John Mashey
Francis X. Dicbold publishes: “Big Data Dynamic Factor Models for Macrocconomic Measurement and Forecasting”
John Mashey at Silicon Graphics (SGI): “Big data and the net wave of infrastress”
Weiss and Indurkhya
Dougla Laney at the META Group Research (now Gartener) drafts in late 2000 and publishes in february 2001 a research note on “3-D Data Management: Controlling Data Volume, Velocity and Variety”
Tim O’Reilly writes about the Data is the next ‘Intel Inside’
Microsoft Research publishes “The Fourth Paradigm. Data Intensive Scientific Discovery”
Google trends for the search term “Big Data”
Special Issue on Big Data of “Significance” (American Statistical Association and the Royal Statistical Society, august)
Special Issue of Business Harvard Review, (Big Data: The Management Revolution, october)
Aug 2015, over 1 billion people used Facebook in a single day.
Storing more digital information than analog
C. Anderson publishes (Wired): “The End Of Theory. The Data Deluge Makes The Scientific Methods Obsolete”
Mickinsey publishes the research: “Big data: The next frontier for innovation, competition, and productivity”
About 250 “Big Data” books on Amazon store
2014 2015 2016mid 90’s 1998 2000 2001 2002 2005 2008 2009 2011 2012 2013
Google Trends search data for “Big Data”
Collection
73%The number of organisations that have already invested in big data.
$65,000,000The additional net income that could be realised by the average
Fortune 1000 company with just a 10% increase in data accessibility.
0.5%The amount of data that is currently analysed and used.
Analytics & Visualisation
Collection
The future?
“I think there is a world market for maybe
five computers.”
Thomas Watson, the founder of IBM, presciently once said,
While a seemingly absurd notion on the surface, it’s becoming a reality that’s all too likely as we move into the cloud computing era.
It means that now nearly every organisation willhave access to the computing power to
process big data, and big data capture andstorage is now a commodity!
The way it should be
Deep Learning Predictive
& Discovery
Analytics & Visualisation
Collection
Collection
6,000Tweets sent every second
293,000Facebook status updates every minute
100 billionGoogle queries searched every month
4.66 billionweb pages online right now
All businesses now have the ability to collect almost limitless data; storage is a commodity and databases can hold and report on that data
It’s not uncommon for even small businesses to collect terabytes of data, unheard of just 5 years ago
Analytics & VisualisationIt’s relatively easy for business to construct “vanity” metrics and pretty charts on the data points - number of times my brand is mentioned, etc. Very few of these actually provide any true insight
The great failure of existing analytics is that it rarely provides insight…the analysis resulting from all that data we collect still requires real thought in order to create understanding
Prediction & Discovery
Predictive Analytics - the future is here... AND WE’RE PREDICTING IT RIGHT NOW.
Machine LearningIFFT RecipesFootball Whispers – Early stage prediction modelling
What have we learned?
The new world revolves around Coverage, Visualisation and Predictive Analytics, but more importantly it is the companies that
find the 15 bits of information amongst the millions that are relevant to them every day,
are the ones that will win.
Nearly every organisation will soon have the capability to process big data as we
converge to only 5 computers in the world over the next 3 to 5 years.
‘Big’ is not the essential word anymore, it should be the “Right” or “Deep”
data, as we can not do anything with millions of lines of unstructured data.
IFFT Recipes will hell up here!
Less than 1% of data is currently being analysed and used - its no longer enough to
say you have the data, it has to be processed and used within the organisation.
Any Questions?
Thank You
Vivion Cox, Co-founder Klood Technology
+44 (0) [email protected]
@VivionCoxhttps://uk.linkedin.com/in/businesssocialmedia
