What is big data about

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    22-Oct-2014
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A highlevel view of the 3V's in Big Data - for non-techies

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What is big data about

WHAT IS BIG DATA ABOUT If you dont work in marketing?

By Miriam Gilbert Storytelling with Numbers.com tweet: MiriamRGilbert

MORE DATA THAN EVERThe volume of data is

growing exponentially

By Miriam Gilbert

Storytelling with Numbers.com

tweet: MiriamRGilbert

MAKE DECISIONS SIMPLE?

But the reality looks

different

By Miriam Gilbert

Storytelling with Numbers.com

tweet: MiriamRGilbert

DATA ON ITS OWN IS USELESSWe need skilled

interpretation to give it

meaning

By Miriam Gilbert

Storytelling with Numbers.com

tweet: MiriamRGilbert

WHAT MAKES DATA BIG?It is not all about size

alone.

By Miriam Gilbert

Storytelling with Numbers.com

tweet: MiriamRGilbert

THE 3 Vs OF BIG DATA (a phrase coined by Gartner in 2001, now widely accepted)By Miriam Gilbert Storytelling with Numbers.com tweet: MiriamRGilbert

VOLUME = AMOUNT OF DATA

The volume is going up through the internet of things:

objects embedded with sensors and the ability to

communicate with each other.

By Miriam Gilbert

Storytelling with Numbers.com

tweet: MiriamRGilbert

VELOCITY = SPEED OF DATA IN & OUT

More than real-time analytics, velocity is about the rate

of changes, about linking data sets and about bursts of

activities, rather than habitual steady tempo.

Plus, data forms its own networks, where it influences

other data, which creates more data and decisions.

By Miriam Gilbert

Storytelling with Numbers.com

tweet: MiriamRGilbert

VARIETY = RANGE OF DATA TYPES & SOURCES

New data sources like social media and the internet

of things add huge variety of data.

By Miriam Gilbert

Storytelling with Numbers.com

tweet: MiriamRGilbert

SOMETHING IS MISSING: How to turn big data into something useful for business?

By Miriam Gilbert Storytelling with Numbers.com tweet: MiriamRGilbert

AVOID NAVEL GAZING

Big data has to solve business issues otherwise its

just an expensive IT hobby

By Miriam Gilbert

Storytelling with Numbers.com

tweet: MiriamRGilbert

VALUE: WHAT AND WHY

Dont just start measuring be clear what your

burning issue is and what you need to know to

address it.

The why and what might not be straightforward to see

look at it sideways.

By Miriam Gilbert

Storytelling with Numbers.com

tweet: MiriamRGilbert

VERACITY: TRUST, BUT VERIFY*

*old Russian proverb

How can you act on information if you dont trust it?

With data coming from new and different sources,

you need new ways of verifying what the data tells

you.

By Miriam Gilbert

Storytelling with Numbers.com

tweet: MiriamRGilbert

CONTEXT

Evaluate data in context: Facts might not be true in

all circumstances, and old data might have value

despite being outdated.

By Miriam Gilbert

Storytelling with Numbers.com

tweet: MiriamRGilbert

EXAMPLE USES OF BIG DATA OUTSIDE OF MARKETING

Utilities: e.g. Smart Meters

Banking: e.g. Fraud detection

Insurances: e.g. in-car boxes for flexible

premiums based on driving

behaviour

Property management: e.g elevator logs to predict

empty properties

And a gazillion more!

By Miriam Gilbert

Storytelling with Numbers.com

tweet: MiriamRGilbert