Analysis of Big Data Hype (And Reality)

1. Big Data Hype
(And Reality)

2. Informative
Managerial Insights
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3. Decision- Makers want to understand the patterns in the
past and the present in order to anticipate what is most
likely to happen in the future.
Areas where better prediction of consumer behaviour
would clearly be valuable.
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4. ● Big Data offers
unprecedented
awareness of
phenomena of
consumer’s actions and
attitudes.
● Areas where better
prediction of consumer
behaviour would clearly
be valuable
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5. ● Predictive Analytics can
figure out how to land on
Mars but not will buy a
Mars Bar.
● The Biggest Effects of
Big Data will be in
creating wholly new
areas.
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6. The randomness in human
behaviour is the limiting factor.
The randomness Inherent in human behavior is the
limiting factor to consume modelling success.
Marginal gains can perhaps be made thanks to Big
Data, but breakthroughs will be elusive as long as
human behaviour remains inconsistent, impulsive,
dynamic and subtle.
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7. “If the human brain were so simple that we
could understand it, we would be so simple
that we couldn’t”
Emerson Pugh, The Biological Origin of
Human Values (1977)
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8. Relevance to Indian Managers

9. We Know that Data Analysis
can not be trusted fully in
predicting changing human
behaviour. A manager should
be able to make sure that he is
making his team use their
talent in the right directions.
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10. Managers need to be mindful of
limitations of Big Data and be
intelligent about how they
choose to use it.
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11. Big Data will be biggest and the most
important application in the realm of
the AI.
AI uses large data in order to
understand and predict behavior of
Human Beings.
Apple, Google using Siri and Google
Now to demonstrate the future.
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12. Presented By
Prince Barai
Data Analytics Intern At IIM, Lucknow
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