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Small Devices, Big Data and Decision Making

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Small Devices, Big Data and Decision Making

  1. 1. SMALL DEVICES, BIG DATA AND DECISION MAKING Big Data, Metro Toronto Conven;on Centre June 15, 2016 Mircea Baldean
  2. 2. -Daniel Kahneman Author of Thinking Fast and Slow “ ” You can look at a pain;ng all you want, but asking about its provenience is usually a good guide whether the pain;ng is genuine or not.
  3. 3. THE MAP AND THE TERRITORY A Primer in Decision Making Small Devices, Big Data Understanding Data 1 2 3
  4. 4. A PRIMER IN DECISION MAKING 1
  5. 5. A PRIMER Before We Start We tend to be op;mis;c about the things that are important to us...
  6. 6. A PRIMER Noise vs. Signal: Law of Small Numbers Source: Michael J. Mauboussin, “Capital Ideas Revisited-Part 2,” Mauboussin on Strategy, 2005. Heads or Tails? Short-term results show mostly noise: 50/50 normalized results
  7. 7. A PRIMER Inside View vs. Outside View The Inside view is based on intui;on. The Outside view will, at least, gives us a ballpark. Which one will you act upon?
  8. 8. A PRIMER Why is Change so Hard to Implement? Big data implies changes within most ins;tu;ons. In the context of changes or reforms, there will be losers and there will be winners. You can know ahead of ;me that the poten;al losers will fight harder than the winners.
  9. 9. A PRIMER Why is Change so Hard to Implement? Losses hurt roughly twice as much as gains feel good! Source: A. Tversky and D. Kahneman, “Prospect Theory”, 1979. Chart: SSgA, “The Exchange”, 2011.
  10. 10. A PRIMER Why is Change so Hard to Implement? Unlike Google, most organiza;ons do not experiment. Few employees agree with each other, and in fact their views can differ by as much as 45-50%. And many organiza;ons don't even know that! Source: D. Kahneman, “Big data, intuiPon and decision-making in finance”, Santa Fe InsPtute, 2015.
  11. 11. A PRIMER Inside View vs. Outside View Experience does not bring Convergence, it increases Confidence. Focus on beder insights and fewer blind spots. Source: D. Kahneman, “Big data, intuiPon and decision-making in finance”, Santa Fe InsPtute, 2015.
  12. 12. A PRIMER Inside View vs. Outside View In the knowledge economy making beder decisions is key. The rest is increasingly becoming automated anyways.
  13. 13. SMALL DEVICES, BIG DATA 2
  14. 14. SMALL DEVICES, BIG DATA Small Devices, Big Data “Big Data” represents techniques and technologies that make handling data at extreme scale affordable. Source: Forrester Research, Inc. The PaSerns Of Big Data, June 2013.
  15. 15. SMALL DEVICES, BIG DATA Small Devices, Big Data Mobile is all about opportunity. Technology and social connec;vity should be seamless.
  16. 16. SMALL DEVICES, BIG DATA Mobile Web vs. Apps Mobile Web is transac;onal. Apps have a specific intent and a much richer experience.
  17. 17. SMALL DEVICES, BIG DATA Mobile Web vs. Apps Mobile is mul;-dimensional: Loca;on, Proximity, Immediacy
  18. 18. SMALL DEVICES, BIG DATA Value of Big Data Web and Mobile sta;s;cs are by far the most measurable and accurate source of marke;ng data available.
  19. 19. SMALL DEVICES, BIG DATA Value of Big Data However, the most common obstacle to successful analy;cs is not technology, but rather cross-team integra;on.
  20. 20. SMALL DEVICES, BIG DATA Handling Big Data Data doesn't age well. Don't make bad decisions using bad data.
  21. 21. SMALL DEVICES, BIG DATA Handling Big Data Invest in tracking Leverage the data
  22. 22. UNDERSTANDING DATA AT MEETVIBE 3
  23. 23. UNDERSTANDING DATA MeetVibe is about connec;ng people and ideas. We give them access to the world around them: people, places, rela;onships, interac;ons and meaningful connec;ons.
  24. 24. More importantly, people choose MeetVibe because they trust us with their privacy. To simplify scheduling, we provide a convenient and safe way of viewing the available ;mes. UNDERSTANDING DATA
  25. 25. UNDERSTANDING DATA Understanding Data at MeetVibe Proprietary Real-Time BI Dashboard App Store Analy;cs Google Analy;cs Proximity / Loca;on-based CMS Social Analy;cs Email Analy;cs SalesForce.com Project Management Analy;cs Hub-and-Spoke Model
  26. 26. UNDERSTANDING DATA Understanding Data at MeetVibe Proprietary Real-Time BI Dashboard
  27. 27. UNDERSTANDING DATA Understanding Data at MeetVibe Footprint, App Versions
  28. 28. UNDERSTANDING DATA Understanding Data at MeetVibe Proximity InteracTons
  29. 29. In analy;cs, success is dependent upon asking the right ques;ons. Some;mes thinking fast can lead to false posi;ves. THE END
  30. 30. THANK #YOU! Thank #You! Mircea Baldean meetvibe.com/baldean @baldean Surprise.. No Test!

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