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What is big data about

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

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

Published in Technology , Business
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  • 1. WHAT IS BIG DATA ABOUT If you don’t work in marketing? By Miriam Gilbert Storytelling with Numbers.com tweet: MiriamRGilbert
  • 2. MORE DATA THAN EVER The volume of data is growing exponentially By Miriam Gilbert Storytelling with Numbers.com tweet: MiriamRGilbert
  • 3. MAKE DECISIONS SIMPLE? But the reality looks different… By Miriam Gilbert Storytelling with Numbers.com tweet: MiriamRGilbert
  • 4. DATA ON ITS OWN IS USELESS We need skilled interpretation to give it meaning By Miriam Gilbert Storytelling with Numbers.com tweet: MiriamRGilbert
  • 5. WHAT MAKES DATA BIG? It is not all about size alone. By Miriam Gilbert Storytelling with Numbers.com tweet: MiriamRGilbert
  • 6. THE 3 “V’s” OF BIG DATA (a phrase coined by Gartner in 2001, now widely accepted) By Miriam Gilbert Storytelling with Numbers.com tweet: MiriamRGilbert
  • 7. 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
  • 8. 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
  • 9. 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
  • 10. SOMETHING IS MISSING: How to turn big data into something useful for business? By Miriam Gilbert Storytelling with Numbers.com tweet: MiriamRGilbert
  • 11. AVOID NAVEL GAZING Big data has to solve business issues – otherwise it’s just an expensive IT hobby By Miriam Gilbert Storytelling with Numbers.com tweet: MiriamRGilbert
  • 12. VALUE: WHAT AND WHY Don’t 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
  • 13. VERACITY: TRUST, BUT VERIFY* *old Russian proverb How can you act on information if you don’t 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
  • 14. 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
  • 15. 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