Webinar presentation given by Prof. Dr. Diego Kuonen, CStat PStat CSci, on March 15, 2018, within the TIBCO webinar entitled "Demystifying the Hype: [Big] Data as Fuel and Analytics as the Engine of Digital Transformation"; see
The digital revolution is truly underway: terms such as big data, cloud, internet of things, internet of everything, the fourth industrial revolution, smart cities and data economy are no longer just concepts - they are changing our lives in new and exciting ways.
Digital Transformation started with a first wave of digitalisation, which resulted in the (big) data revolution. But now a second wave of digitalisation is needed to enable learning from (big) data and to generate increased value for both business and society as a whole.
This presentation discusses how analytics, the science of "learning from data" or of "making sense out of data", becomes the engine of a new wave of Digital Transformation, and illustrates that the biggest challenge therein is the veracity of the "data pedigree", i.e. the trustworthiness of the data, including the reliability, capability, validity, and related quality of the data.
This presentation looks at demystifying concepts and terms surrounding Digital Transformation and big data. Along with machine intelligence and learning, the connection between data science and statistics is illustrated, and trends, challenges, opportunities, and the related digital skills and principles needed to succeed at Digital Transformation are highlighted.