Mona Vernon - Using big data to crack B2B markets
-
Upload
international-startup-festival -
Category
Technology
-
view
530 -
download
0
description
Transcript of Mona Vernon - Using big data to crack B2B markets
THE B2B OPPORTUNITY WITH BIG DATA – MONA VERNON
About Thomson Reuters
Comprehensive IP & scientific information, decision support tools & services to enable governments, academia, publishers, corporations & law firms.
Tax & Accounting
Financial & Risk
Integrated tax compliance and accounting information, software & services for professionals in accounting firms, corporations, law firms and government.
Intellectual Property & Science
Legal
Critical information, decision support tools, software & services to legal, investigation, business and government professionals.
Critical news, information & analytics, enables transactions, and connects trading, investing, financial and corporate professionals.
Key products include: Eikon, Thomson One, Reuters 3000 Xtra, Datastream, FXall
Key products include: WestlawNext, FindLaw, Firm Central, Concourse, CLEAR
Key products include: OneSource, Checkpoint, CS Professional Suite, Government Revenue Management
Key products include: Web of Knowledge, Cortellis, ScholarOne, Thomson IP Manager, Mark Monitor
Reuters NewsPowered by more than 2,800 journalists reporting in 20 languages from bureaus around the world, Reuters is the world’s largest
international news organization
About The Data Innovation Lab• Partner with customers, third parties, and internal teams on new
data-driven innovations such as revealing new relationships and data mining for new patterns, and deliver data visualization prototypes
• Data sources: internal big data store, open data and social data
• Experiment with mash-ups of internal and external data in novel ways
• Small team of amazing intrapreneur - data scientists
3
WHAT IS THE ENTERPRISE OPPORTUNITY WITH BIG DATA ?
The Enterprise Big Data Pain Point
Most large enterprises are generating a significantly wider variety of data every day and this variety challenge (more than volume or velocity – if your counting Big Data “V”s) is becoming the biggest bottleneck for enterprise analytics.
Mark Schreiber, Novartis
5
3
2
1
High quality diverse data is the fuel for analytics
• Quant Research: Predictive and Performance Models– Quant and analytical models mimicking human judgment
– Sentiment engines aggregating opinions
• Data Science: Predictive and Actionable Algorithms– Predictive Machine Learning
– Persistent Point-in-Time Historical Analytics
– Point-in-Time Entity Mapping and Alignment
• Text Analytics: Descriptive Algorithms– Tagging meta-data and parsing
– Search algorithms
6
One spectrum of analytics arranged from most human-based to most machine-based
“even the most sophisticated front end tools will merely be window dressing on a spoiled carcass of bad and disconnected data “– Andy Palmer, Tamr Inc.
Benefits of Big Data – View from one sector
Planned Future Investment in Big Data
HOW TO BREAK IN THE ENTERPRISE MARKET WITH BIG DATA?
Coporation innovation is changing
Enterprise data management is changing:Traditional approach meets the bottom-up approach: Treat everything as unstructured, keep the top-down approach as a starting point, and then let the algorithms mine for value.
• New tools, new attitudes: Leverage Open standards and Open Source
• Rapid iteration – lean experiment as a way to manage uncertainty and keep up with the pace of change
• Partner with innovators like start-ups and academics to keep up with technology change
Good news: Software Is Eating The World
Yes, Software Is Eating The World
Yes, Software Is Eating The World
YOU ARE NOT GOING TO BE ALONE !
Find a champion, over deliver, repeat
• Who is passionate vs. who can make it happen
• Who will sign the first check
• Who will define success metrics
• Who will iterate with you on the lean evaluation
• Who will champion you to become a vendor
• Who are you competing against: Legacy, R&D, Big players, other start-ups?
• When do you break-up and try again elsewhere
DATA INNOVATION LABTHOMSON REUTERSINNOVATION DISTRICTBOSTON USA
@monavernon