A Strategic Approach To BIG DATAAnalytics. Separating Hype from Reality.Ian Forrester, Managing Consultant, Inside Infoian...
Some History...                  www.insideinfo.com.au
Some History...                  Source: Gartner Hype Cycle 2011                    www.insideinfo.com.au
What It’s Not                Source: Gartner Hype Cycle 2011                  www.insideinfo.com.au
So what is             & the 3 ‘V’s?                             www.insideinfo.com.au
The   amount of data is continuingto   increase...                             Volume          Business Insight           ...
Data can be structured orunstructured                                    Variety                           Volume        B...
The speed of change                                     Velocity                           Variety                      Vo...
Is BIG DATA measuring up to its   promise?                                   createsmore people                     busine...
Creating Business ValueThrough New Business Models•   Data aggregators eg. Klout for influence analysis                   ...
Creating Business ValueBy Transforming Existing Business ModelsUtilities•    Smart metering for mutual benefit (no brownou...
Big Data ChallengesEconomist Survey•   Extracting value from Big Data remains elusive for many organisations. (53% of    r...
Some        Tips•   More data does not automatically translate    into better decisions•   People have limited capability ...
A Way Forward               Enablers                         Governance &   Alignment    People                  Technolog...
Alignment                   Enablers                                   Governance &       Alignment       People          ...
People                   Enablers                                        Governance &       Alignment          People     ...
Governance & Data                   Enablers                                      Governance &       Alignment         Peo...
Technology                   Enablers                                      Governance &       Alignment         People    ...
Visualisation - 7 Deadly Sins    Greed                    Envy                                 Wrath   Sloth          Glut...
Evolution or RevolutionBig Data has always been around. What has changed isthe ability to make sense of it. Understand the...
Upcoming SlideShare
Loading in …5
×

Australian CIO Summit 2012: A Strategic Approach To BIG DATA Analytics. Separating Hype from Reality by Ian Forrester

480 views

Published on

Australian CIO Summit 2012: A Strategic Approach To BIG DATA Analytics. Separating Hype from Reality by Ian Forrester, Managing Consultant, Inside Info

Published in: Technology, Business
0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total views
480
On SlideShare
0
From Embeds
0
Number of Embeds
1
Actions
Shares
0
Downloads
12
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide

Australian CIO Summit 2012: A Strategic Approach To BIG DATA Analytics. Separating Hype from Reality by Ian Forrester

  1. 1. A Strategic Approach To BIG DATAAnalytics. Separating Hype from Reality.Ian Forrester, Managing Consultant, Inside Infoian.forrester@insideinfo.com.auMake every decision count
  2. 2. Some History... www.insideinfo.com.au
  3. 3. Some History... Source: Gartner Hype Cycle 2011 www.insideinfo.com.au
  4. 4. What It’s Not Source: Gartner Hype Cycle 2011 www.insideinfo.com.au
  5. 5. So what is & the 3 ‘V’s? www.insideinfo.com.au
  6. 6. The amount of data is continuingto increase... Volume Business Insight www.insideinfo.com.au
  7. 7. Data can be structured orunstructured Variety Volume Business Insight www.insideinfo.com.au
  8. 8. The speed of change Velocity Variety Volume Business Insight www.insideinfo.com.au
  9. 9. Is BIG DATA measuring up to its promise? createsmore people business value more workhave access to to be donemore data 85% 75% 73% report obstacles in managing & analysing data will increase investments have leveraged data to in data analysis next year increase revenues key trends causing companies to rethink their 43% 57% data management strategy: used data to used data to create entirely increase an new sources existing 61% social of revenue revenue stream 84% 73% mobile 65% cloud report using Big Data has helped them make better business decisions Source: Avanade June 2012 Global Big Data Survey www.insideinfo.com.au
  10. 10. Creating Business ValueThrough New Business Models• Data aggregators eg. Klout for influence analysis www.insideinfo.com.au
  11. 11. Creating Business ValueBy Transforming Existing Business ModelsUtilities• Smart metering for mutual benefit (no brownouts, lower consumer cost)Manufacturing• Real-time product performance to drive concurrent engineeringFinancial Services• Fraud detectionRetail• Location based tracking & marketing• Sentiment analysis www.insideinfo.com.au
  12. 12. Big Data ChallengesEconomist Survey• Extracting value from Big Data remains elusive for many organisations. (53% of respondents only use ½ their available data today).• Many companies struggle with the most basic aspects of data management such as cleaning, verifying or reconciling data across the organisation. (Nearly 1/3 have insufficient data governance).• The most common obstacle for companies in extracting value from data is that they have too much data & too few resources.Harvard Business Review• Analytic skills are concentrated in too few employees• Reliable information exists, but hard to locate• Executives don’t manage information as well as they manage talent, capital & brands. Source: The Economist, Big Data Harnessing A Game Changing Asset, 2011 Harvard Business Review, Good Data Won’t Guarantee Good Decisions, March 2012 www.insideinfo.com.au
  13. 13. Some Tips• More data does not automatically translate into better decisions• People have limited capability to concurrently assimilate an infinite number of data points• Identifying the “information sweet spots” is critical to drive better decisions• Master small data before getting too distracted on Big Data www.insideinfo.com.au
  14. 14. A Way Forward Enablers Governance & Alignment People Technology Data www.insideinfo.com.au
  15. 15. Alignment Enablers Governance & Alignment People Technology Data • Start with the end in mind • Align outcome with strategic intent • Understand the important business questions that need to be answered www.insideinfo.com.au
  16. 16. People Enablers Governance & Alignment People Technology Data A different set of skills will be required to exploit the Big Data opportunity • Data-centric business people who can ask the right questions • Analysts who can analyse & interpret the data to deliver the answers • Technologists who can build & support the technical infrastructure www.insideinfo.com.au
  17. 17. Governance & Data Enablers Governance & Alignment People Technology Data • Data is the lifeblood of BI – it needs to be clean, reliable & well understood • Processes & structures to manage demand & change www.insideinfo.com.au
  18. 18. Technology Enablers Governance & Alignment People Technology Data Visualisation is Key! • Drives efficiency by allowing assimilation of vast quantities of data rapidly • Enables patterns to be identified easily • Is fun & drives adoption & usage www.insideinfo.com.au
  19. 19. Visualisation - 7 Deadly Sins Greed Envy Wrath Sloth Gluttony Lust Pride Source: Kansas State University Geography/USACE www.insideinfo.com.au
  20. 20. Evolution or RevolutionBig Data has always been around. What has changed isthe ability to make sense of it. Understand the evolutionary process to get to Big Data – it’s a progression. Big Data Strategic Tactical Basic Immature www.insideinfo.com.au

×