Big data hype (and reality)

1. Big Data and Hype (and
Reality)
By Gregory Piatetsky-Shapiro

3. Interesting

4. Growing popularity
Big Data has been the focus of countless articles and
perhaps many meetings and conferences as well

5. But it is not a classic
territory addressed by
analytics as using big
data to one’s advantage
is a hard task in itself

6. Most applications of
data mining have
only attempted to
get better at
predictive analysis

7. Decision makers
wants to identify
patterns and use
them to anticipate
future
Randomness in the human
behavior is a limiting factor
in consumer modelling

9. Marginal gains can be made but
breakthroughs remain tough as long
as human behavior is inconsistent and
dynamic, which it is.

10. Film Ratings
Netflix routinely serves
recommendations based on
users’ ratings and feedback and
uses predictive analysis
The company even
launched to improve this
algorithm.

11. With three years of efforts by
some of the best Data
scientists, the rating
improved by 0.1 star.

12. Relevance to a Manager

13. Big data analytics
can improve
predictions
But most important
application is in realm of
Artificial Intelligence.
In healthcare also, big data
can drive progress in
personalized medicine.

14. Big data can have transformative effect in
location based services!

15. Thanks!