Monetizing Big Data

MONETIZING

BIG DATA

Fred Sim @ iExperience

Topics

• What is considered as Big Data?

• Impact of Big Data to Enterprises.

• Direct & Indirect Values.

• How Big Data can be Monetized?

• Industry Use Cases.

• Future Thoughts.

What is Big Data?

Big data is the term for a collection of data sets so large and complex that it becomes difficult to process using on-hand database management tools or traditional data processing applications.

How Did it Come About?

GLOBALIZATION

Internet saturation growing at 8%

annually. Internet of Things

9B devices by 2016.

DATA EXPLOSION

4300% data generation increase

by 2020. 40 Zetabytes

(43 Trillion GB).

RISE OF MOBILITY

Smartphone shipments to top 1B

annually by 2016.

SOCIAL IS BUSINESS

30 billion pieces of content on Facebook shared every month. 400 million Tweets

sent per day.

MODERNIZE TO SURVIVE

Most U.S. Companies have at

least 100 TB of business data.

Point of View

• Not all large Data Sets is Big Data.

• Not all unstructured Data is Big Data.

• Big today but not Big tomorrow.

• Is it all about the four V’s?

• It is not the Data but the Analytics.

• Collaboration of Business, Science & Technology

Impact of Big Data to Enterprises • Transparency of the data being made readily available.

• Real-time decision making tailored to customers.

• Intelligent Data makes Enterprises more competitive.

• Reduce risk in making decision and unlocking new businesses.

• Moving from the Knowledge Economy to the Intelligent Individuals.

Impact of Big Data to SMBs • Compete effectively with transparency of data.

• Flexibility and Agility to adapt to your customers.

• Able to find niches in a highly competitive areas.

• Enterprise are slow to transform the core business.

• Take advantage of the smarter and savvy customer base.

Direct Correlation

Indirect Correlation

• Customers discussion/feedback via Social Media.

• Identifying inefficiencies and gaps in your business.

• Understanding changes and direct competition.

• Identifying changes (eg. economic, environmental, consumer) indirectly impacting your business.

• Ability to see emerging pattern from collective data.

Decision Making

How Big Data can be Monetized

• Monetized only if can be consumed.

• Variety enhances value of outcome.

• Analyzed in continuity as it changes.

• Correlated with Business information.

• Available through subscription.

• Platform for Collaboration via Cloud.

USE CASE

Environment

BRAZIL’S AMAZON

RAINFOREST

BRAZIL’S AMAZON

RAINFOREST

BY 80% BETWEEN 2004-2012

USE CASE Retail

Future Thoughts

• Big Data, is the new Marketplace.

• Data is the future currency for Businesses.

• The need to have Data Exchanges.

• Understanding these outcomes requires multi-domain collaboration.

• Step forward towards collective intelligence.

• Ability to share Data remains to be the challenge.

References & Data Sources • Wikipedia: Big Data Definition

• Globalization: United Nations / International Telecommunications Union

• Data: IDC/EMC 2011 Digital Universe Study, 2010 Digital Universe Decade Study, Data Revolution Sept 2011, CSC's Leading Edge Forum

• Mobility: Portio Research Mobile Factbook 2012

• Social: Facebook Director of Global SMB Markets Dan Levy, BIA/Kelsey’s Interactive Local Media West Conference

• Modernization: IBM’s The FOUR V’s of Big Data

• Brazil’s Amazon Rainforest: Oracle Open World Video 2013.

• Straits Times: Jun 10, 2013 - Make Singapore a shopping paradise again.

• Fast Company: How Companies Like Amazon Use Big Data To Make You Love Them

• Groupon: The Groupon Great Singapore Sale 2013 Survey