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World of data @ praxis 2013 v2

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  • 1. World of Datawhy, who & how ?prithwis mukerjee, phdprogram director, business analytics
  • 2. "In God we trust, everyone elsebrings Data to the table"Data DrivenManagement hasgiven birth totools andtechniques thatallow managersto drill down tothe root of theissue at hand• Electronic DataProcessing• Operations Research• ManagementInformation Systems• Relational Databases• ERP• Data Warehousing
  • 3. Interpretation & AbstractionDataInformationKnowledgeInsightWisdom
  • 4. Breaking news : from TV to 3VVolumeVelocityVariety
  • 5. Mapping Twitter Sentimentshttp://www.sgi.com/go/twitter/?/#heatmaps
  • 6. Twitter in the Stock Markethttp://socialmediatoday.com/leaderswest/1417691/how-twitter-affects-stock-market-infographic
  • 7. Text Analytics for IP Management
  • 8. 2013 Trends in Analytics1.Customer Analytics: Personalized, cross-channel, customer-drivenanalytics will drive new focus on delivering individualized, personalizeddigital experiences2.Mobile Analytics. Increased use of mobile will drive requirement foranalytics applied to mobile generated data3.Social and Textual Analytics. Moving beyond batch listening,Social Business Managers want to be able to analyze social conversationsand influencer networks in real time.4.Predictive Analytics: New innovative applications of advancedalgorithms and modeling techniques will advance the science of predictiveanalytics.5.Real-Time Analytics. As decision makers get a taste for what canbe done, they will want that information faster…..and eventually in real time2013 HorizonWatching trend report - Creative Commons Attribution License
  • 9. 2013 Trends in Analytics6.Interest Grows in Data Visualization: Enterprises learn thatmanaging and extracting insights from Big Data is not enough…you need tobe able to display the insights for decision makers.7.Self- Service. Decision makers will increasingly want access to simpleto use analytic tools that provide visualization rich output. Oh….and theywant that output on their tablet.8.Hadoop matures. Hadoop functionality improves and CIOs begin toconsider it for mission critical applications9.Data Scientists: There will be a rush to hire skilled Big DataScientists, often via services like Kaggle.10.Education and Training: Big Data & Analytic Services firms willoffer extensive training and certification programs to try to help fill theshortages of skilled Data Scientists.
  • 10. The Rise of the Data Scientist 2013“A data scientist is someonewho can understand thedesired business outcome,examine the data, andcreate hypotheses abouthow to establish predictiverules that can enablebusiness outcomes such asincreasing eCommerceupsell, keeping a productionline running, or eliminatingstock-outs” – ForresterHarvard Business Review - October 2012
  • 11. Business Analytics ProgramTechniques : Statistics,Econometrics, Dimensionalmodelling, Map Reduce,Tools : SQL, R, SAS, Datawarehousing, Data Mining,Hadoop, VisualisationBusiness : Domain knowledge( retail, telecom, finance )Enterprise PerformanceManagement, BusinessCommunication9 month full timeprogram at Praxiscampus+3 months industryinternship followedby placementservices
  • 12. Questions ?