Data is now considered a form of capital that is essential for companies to generate new digital products and services. As data has become a major asset, companies must treat their data as a capital investment and develop new computing architectures and analytics capabilities to extract maximum value from their data assets. Those who fail to view data as a vital capital resource risk losing their competitive advantage to companies that more effectively leverage their data.
The document discusses the evolution of big data, from its early beginnings in the 1990s to its current prominence. It describes how the rise of the internet and e-commerce created vast amounts of machine-generated data. This helped popularize the concept of big data and fueled growth in the big data market. The document also explains how big data is now characterized by its volume, velocity and variety (the three V's) as defined in 2001, and how some now argue this definition is outdated and does not fully capture big data's potential business value.
This white paper: Analyzes the big data revolution and the potential it offers organizations. Explores the critical talent needs and emerging talent gaps related to big data. Offers examples of organizations that are meeting this challenge head on. Recommends four steps HR and talent management professionals can take to bridge the talent gap.
In the analogue era information was scarce and came from questionnaires and sampling. Since the dawn of the digital age in 2012 far more data than ever before is stored and it is mainly collected passively, i.e. while people go about doing what they normally do, such as run their businesses, use their cell phones and conduct internet searches.
Analysts, policy makers and business people value business tendency surveys (BTS) and consumer opinion surveys (COS) specifically because the survey results are available before the corresponding (official) quantitative data. However, Big Data has begun to make inroads on areas traditionally covered by BTS and COS. It has a competitive edge over BTS and COS, as it is available in real-time, is based on all observations and does not rely on the active participation of respondents. Furthermore, Big Data has little direct production costs, because it is merely a by-product of business processes. In contrast, putting together and maintaining a sample of active respondents and collecting information through questionnaires as in the case of BTS and COS, require the upkeep of a costly infrastructure and the employment of people with scarce, specialised skills.
However, BTS and COS also have a competitive edge over Big Data in certain aspects. These aspects could broadly be put into two groups, namely 1) BTS and COS offer information that Big Data cannot supply and 2) BTS and COS do not suffer from some of the shortcomings of Big Data. The biggest competitive advantage of BTS and COS is that they measure phenomenon that Big Data does not cover. Big Data records only actual outcomes, while BTS and COS also cover unquantifiable expectations and assessments. Although Big Data often claims that it covers the whole population universe (and not only a selection) this does not necessarily prevent bias. For example, twitter feeds could be biased, because certain demographic or less activist groups are under-represented. In contrast, the research design and random sampling of BTS and COS limit their selection bias.
To remain relevant and survive, producers of BTS and COS will have to adapt and publicise their unique competitive advantage vis-à-vis Big Data in the future. The biggest shift will probably require that producers of BTS and COS make users more aware of the value of the unique forward looking information of BTS and COS (i.e. their recording of expectations about the future).
Artificial Intelligence Best Practices: How AI Models Can Transform Legal and...Anna Kragie
The legal and corporate worlds are buying into the power of AI and machine learning. Now, many industries are becoming increasingly receptive to how to use better data classification methods and AI models to generate better business practices. A decade ago, the legal and corporate worlds needed more convincing about the power of AI and machine learning. Now, many industries — legal included — are becoming increasingly receptive to how to use better data classification methods and AI models to generate better business practices.
Big data is growing rapidly due to new sources of customer data from online platforms, mobile devices, and machine-to-machine communication. This creates challenges for companies around managing increasing data volumes, varieties, and velocities. The document discusses how some companies are using big data to better understand customers, increase profits, and gain a competitive advantage. It also notes that big data initiatives require business leadership and clear use cases to be successful.
AI is a data-driven game,
hands down, but predictions
will be accurate only if the
training data used to teach
the AI prediction model is truly
representative of the target
cases being classified or
predicted. If I had to put it in
one term, AI is basically about
decision-making—smarter
decision-making.”
The document discusses the evolution of big data, from its early beginnings in the 1990s to its current prominence. It describes how the rise of the internet and e-commerce created vast amounts of machine-generated data. This helped popularize the concept of big data and fueled growth in the big data market. The document also explains how big data is now characterized by its volume, velocity and variety (the three V's) as defined in 2001, and how some now argue this definition is outdated and does not fully capture big data's potential business value.
This white paper: Analyzes the big data revolution and the potential it offers organizations. Explores the critical talent needs and emerging talent gaps related to big data. Offers examples of organizations that are meeting this challenge head on. Recommends four steps HR and talent management professionals can take to bridge the talent gap.
In the analogue era information was scarce and came from questionnaires and sampling. Since the dawn of the digital age in 2012 far more data than ever before is stored and it is mainly collected passively, i.e. while people go about doing what they normally do, such as run their businesses, use their cell phones and conduct internet searches.
Analysts, policy makers and business people value business tendency surveys (BTS) and consumer opinion surveys (COS) specifically because the survey results are available before the corresponding (official) quantitative data. However, Big Data has begun to make inroads on areas traditionally covered by BTS and COS. It has a competitive edge over BTS and COS, as it is available in real-time, is based on all observations and does not rely on the active participation of respondents. Furthermore, Big Data has little direct production costs, because it is merely a by-product of business processes. In contrast, putting together and maintaining a sample of active respondents and collecting information through questionnaires as in the case of BTS and COS, require the upkeep of a costly infrastructure and the employment of people with scarce, specialised skills.
However, BTS and COS also have a competitive edge over Big Data in certain aspects. These aspects could broadly be put into two groups, namely 1) BTS and COS offer information that Big Data cannot supply and 2) BTS and COS do not suffer from some of the shortcomings of Big Data. The biggest competitive advantage of BTS and COS is that they measure phenomenon that Big Data does not cover. Big Data records only actual outcomes, while BTS and COS also cover unquantifiable expectations and assessments. Although Big Data often claims that it covers the whole population universe (and not only a selection) this does not necessarily prevent bias. For example, twitter feeds could be biased, because certain demographic or less activist groups are under-represented. In contrast, the research design and random sampling of BTS and COS limit their selection bias.
To remain relevant and survive, producers of BTS and COS will have to adapt and publicise their unique competitive advantage vis-à-vis Big Data in the future. The biggest shift will probably require that producers of BTS and COS make users more aware of the value of the unique forward looking information of BTS and COS (i.e. their recording of expectations about the future).
Artificial Intelligence Best Practices: How AI Models Can Transform Legal and...Anna Kragie
The legal and corporate worlds are buying into the power of AI and machine learning. Now, many industries are becoming increasingly receptive to how to use better data classification methods and AI models to generate better business practices. A decade ago, the legal and corporate worlds needed more convincing about the power of AI and machine learning. Now, many industries — legal included — are becoming increasingly receptive to how to use better data classification methods and AI models to generate better business practices.
Big data is growing rapidly due to new sources of customer data from online platforms, mobile devices, and machine-to-machine communication. This creates challenges for companies around managing increasing data volumes, varieties, and velocities. The document discusses how some companies are using big data to better understand customers, increase profits, and gain a competitive advantage. It also notes that big data initiatives require business leadership and clear use cases to be successful.
AI is a data-driven game,
hands down, but predictions
will be accurate only if the
training data used to teach
the AI prediction model is truly
representative of the target
cases being classified or
predicted. If I had to put it in
one term, AI is basically about
decision-making—smarter
decision-making.”
Next Wave of Fintech: Redefining Financial Services through TechnologyRobin Teigland
The Stockholm School of Economics and PA Consulting present The Next wave of Fintech, a sequel to the 2015 Stockholm Fintech Report, focusing on the new InsurTech and RegTech segments. The report, which describes and quantifies the Swedish market for these segments, contains valuable insights and recommendations for decision makers at banks, incubators, startup companies, public authorities and investors.
The document discusses the concept of a "context-data broker" which uses machine learning to analyze and contextualize large amounts of structured, unstructured, and semi-structured data from various sources to generate new insights and intelligence. It argues that this approach can amplify human intelligence by overcoming limitations of time, capacity, and subjectivity that humans have when processing large datasets. The document uses mergers and acquisitions as an example domain where contextual data brokering could revolutionize due diligence processes by analyzing far more data than what traditional "data rooms" allow and generating previously unseen insights.
The document discusses findings from a survey conducted by GE and Accenture on how industrial companies are approaching and investing in Big Data analytics and the Industrial Internet. Key findings include:
1) Executives see Big Data analytics as critical and are investing over 20% of technology budgets in it, expecting investments to increase.
2) Board-level support is the primary driver of Big Data strategies over other executives.
3) Companies feel a sense of urgency to implement Industrial Internet solutions as 84% believe it can shift competitive landscapes in a year and competitors are leveraging it.
4) Companies are moving beyond basic asset monitoring with Big Data to optimize operations and create new revenue through predictive maintenance, efficiency gains
The Internet of Things is an emerging topic of technical, social, and economic significance. Consumer products, durable goods, cars and trucks, industrial and utility components, sensors, and other everyday objects are being combined with Internet connectivity and powerful data analytic capabilities that promise to transform the way we work, live, and play. Projections for the impact of IoT on the Internet and economy are impressive, with some anticipating as many as 100 billion connected IoT devices and a global economic impact of more than $11 trillion by 2025.
More Personalized Banking Through Big Data and AnalyticsSAP Analytics
Commonwealth Bank of Australia (CBA) is using big data analytics to provide more personalized banking services and build customer loyalty. By combining data from its transactions, accounts, and new sources like social media, CBA can better understand customer needs and behaviors. This allows CBA to reduce fraud, offer targeted product recommendations, and provide a more customized online experience. While making use of big data presents challenges, CBA's investments in technologies like its real-time analytics platform have helped it gain insights from its data to improve customer service and gain a competitive advantage.
Who needs Big Data? What benefits can organisations realistically achieve with Big Data? What else required for success? What are the opportunities for players in this space? In this paper, Cartesian explores these questions surrounding Big Data.
www.cartesian.com
Data Ingestion Engine Theory is my main investment theory. Since data is the fuel that powers artificial/augmented intelligence, companies that are able to produce value that gets them paid to ingest and analyze valuable data sets at are going to be valuable.
Analytical Thinking is a fortnightly newsletter from the UK Business Analytics team.
The purpose of the newsletter is to raise awareness about why analytics is a hot topic at the moment, where is analytics being referenced in the press and in what ways are organisations using analytics.
Business Analytics (Operational Research) is part of the Digital Transformation team in Capgemini Consulting UK
Data Mining: The Top 3 Things You Need to Know to Achieve Business Improvemen...Dr. Cedric Alford
While companies have been using various CRM and automation technologies for many years to capture and retain traditional business data, these existing technologies were not built to handle the massive explosion in data that is occurring today. The shift started nearly 10 years ago with expanding usage of the internet and the introduction of social media. But the pace has accelerated in the past five years following the introduction of smart phones and digital devices such as tablets and GPS devices. The continued rise in these technologies is creating a constant increase in complex data on a daily basis.
The result? Many companies don't know how to get value and insights from the massive amounts of data they have today. Worse yet, many more are uncertain how to leverage this data glut for business advantage tomorrow. In this white paper, we will explore three important things to know about big data and how companies can achieve major business benefits and improvements through effective data mining of their own big data.
Dr. Cedric Alford provides a roadmap for organizations seeking to understand how to make Big Data actionable.
Blockchain the inception of a new database of everything by dinis guarda bloc...Dinis Guarda
Blockchain the inception of a new database of everything by Dinis Guarda blockchain age
Trends and questions?
1. Redefinition of banking and relation with Blockchain
Mobile App banking finance – mobile ledgers – blockchain identity
New products and the emergence of DAO products.
2. System Legacies in paralel with advanced tech - Ethereum.
3. Distribution Strategy in a new Digitalised World who own what.
4. Super computer Cloud base blochcain solutions / infrastructure.
5. Emergence of AI IOE in relation with blockchain all connected.
6. User Experience, UI, UE, Big data and the IOE blockchain touching.
7. Blockchain Cyber Security and Value Reinvention.
Global Data Management: Governance, Security and Usefulness in a Hybrid WorldNeil Raden
With Global Data Management methodology and tools, all of your data can be accessed and used no matter where it is or where it is from: on-premises, private cloud, public cloud(s), hybrid cloud, open source, third-party data and any combination of the these, with security, privacy and governance applied as if they were a single entity. Ingenious software products and the economics of computing make it economical to do this. Not free, but feasible.
Big data refers to the large amounts of data collected from various sources like cell phones, credit cards, and the internet. As big data continues to grow exponentially, accountants must learn new skills to analyze and manage all this data. Traditional accounting methods like Excel spreadsheets are no longer sufficient. Accountants will need to form new partnerships and collaborate across departments to extract useful insights from big data. While big data presents many challenges, it also provides opportunities to improve business decisions, target customers more effectively, and even combat fraud through advanced data analysis. The role of accountants is evolving to be more strategic and analytic as businesses rely more heavily on big data.
This document discusses why organizations should become analytics-driven. It argues that analytics can help organizations reinvent their business, achieve operational excellence, improve customer experience, ensure trust and compliance, and identify new opportunities. It provides examples of how analytics has helped companies in areas like drilling, customer listening, and purchase prediction. The document also outlines the key dimensions needed for an organization to truly become analytics-driven, including leadership, strategy, culture, capabilities, skills, data, technology, processes, and rules. It proposes that organizations should start on an analytics journey and assess their current analytics maturity.
The Path to Manageable Data - Going Beyond the Three V’s of Big DataConnexica
This document discusses how businesses can gain value from big data through effective analysis and actionable insights. It outlines the traditional "3 Vs" of big data (volume, velocity, variety) and additional "Vs" like veracity, variability, visualization, and value. Effective business analytics software can help validate data quality, analyze diverse data formats, and present insights visually for quick decision making. The document also provides examples like how a local authority used analytics software to transform large volumes of parking, service, and tax records into actionable reports.
Operationalizing a Vision for the Monetization of Telco Consumer DataPrecisely
Telecommunications companies have an abundance of subscriber activity data at their fingertips, which can be highly valuable to third-party organizations when it comes to location-based decision making. But how can telcos properly enrich this data with the context needed in order to successfully turn that data into a revenue stream for their business?
View this short on-demand webcast, where our Customer Information Director, Dominic Tomey, discusses the following:
• Why location intelligence, particularly mobile trace data, can be so valuable for clients when making decisions based on location – particularly for retail, banking and other financial institutions
• How Precisely worked with a large provider of wireless telecommunications to successfully monetize their consumer data
• How to correctly apply contextual enrichment in order to derive the most value from subscriber activity data – including the use of demographics and point of interest data
• How to drive results through self-service environments in order to visualize the outputs for further analysis, as well as for Machine Learning and AI applications
Big Data Analytics: The art of the data scientist discusses the evolution of data analytics and roles of data scientists. It explains that while volume is interesting, distinguishing big data requires understanding patterns in incomplete and anonymized data from multiple sources. Effective data science discovers unknown insights, provides business value through predictive models and data products, and builds confidence in decisions through explanation and storytelling.
For this paper, we interviewed some of the leading voices in the connected car industry to uncover some of the trends influencing the market, and what it might mean for the future of any business seeking to capitalize on this radical change in how we live and move. We examine how these changes are fundamentally altering the talent landscape in the industry, heralding the arrival of a new breed of executives to fill an evolving talent gap in the mobility sector; created by the convergence of the traditional automotive sector and a myriad of outside influences.
This document summarizes a presentation on creating value from big data and business analytics. It discusses research conducted with three large UK organizations: a mobile telecom operator, television company, and integrated transport authority. The research aimed to understand how these organizations leverage their big data and analytics capabilities to create business value. Key findings included using mobile network data for location-based services and public alerts, predictive modeling of viewers for targeted advertising, and travel data analysis to improve transport operations and customer experiences.
Hive on Tez provides significant performance improvements over Hive on MapReduce by leveraging Apache Tez for query execution. Key features of Hive on Tez include vectorized processing, dynamic partitioned hash joins, and broadcast joins which avoid unnecessary data writes to HDFS. Test results show Hive on Tez queries running up to 100x faster on datasets ranging from terabytes to petabytes in size. Hive on Tez also handles concurrency well, with the ability to run 20 queries concurrently on a 30TB dataset and finish within 27.5 minutes.
Next Wave of Fintech: Redefining Financial Services through TechnologyRobin Teigland
The Stockholm School of Economics and PA Consulting present The Next wave of Fintech, a sequel to the 2015 Stockholm Fintech Report, focusing on the new InsurTech and RegTech segments. The report, which describes and quantifies the Swedish market for these segments, contains valuable insights and recommendations for decision makers at banks, incubators, startup companies, public authorities and investors.
The document discusses the concept of a "context-data broker" which uses machine learning to analyze and contextualize large amounts of structured, unstructured, and semi-structured data from various sources to generate new insights and intelligence. It argues that this approach can amplify human intelligence by overcoming limitations of time, capacity, and subjectivity that humans have when processing large datasets. The document uses mergers and acquisitions as an example domain where contextual data brokering could revolutionize due diligence processes by analyzing far more data than what traditional "data rooms" allow and generating previously unseen insights.
The document discusses findings from a survey conducted by GE and Accenture on how industrial companies are approaching and investing in Big Data analytics and the Industrial Internet. Key findings include:
1) Executives see Big Data analytics as critical and are investing over 20% of technology budgets in it, expecting investments to increase.
2) Board-level support is the primary driver of Big Data strategies over other executives.
3) Companies feel a sense of urgency to implement Industrial Internet solutions as 84% believe it can shift competitive landscapes in a year and competitors are leveraging it.
4) Companies are moving beyond basic asset monitoring with Big Data to optimize operations and create new revenue through predictive maintenance, efficiency gains
The Internet of Things is an emerging topic of technical, social, and economic significance. Consumer products, durable goods, cars and trucks, industrial and utility components, sensors, and other everyday objects are being combined with Internet connectivity and powerful data analytic capabilities that promise to transform the way we work, live, and play. Projections for the impact of IoT on the Internet and economy are impressive, with some anticipating as many as 100 billion connected IoT devices and a global economic impact of more than $11 trillion by 2025.
More Personalized Banking Through Big Data and AnalyticsSAP Analytics
Commonwealth Bank of Australia (CBA) is using big data analytics to provide more personalized banking services and build customer loyalty. By combining data from its transactions, accounts, and new sources like social media, CBA can better understand customer needs and behaviors. This allows CBA to reduce fraud, offer targeted product recommendations, and provide a more customized online experience. While making use of big data presents challenges, CBA's investments in technologies like its real-time analytics platform have helped it gain insights from its data to improve customer service and gain a competitive advantage.
Who needs Big Data? What benefits can organisations realistically achieve with Big Data? What else required for success? What are the opportunities for players in this space? In this paper, Cartesian explores these questions surrounding Big Data.
www.cartesian.com
Data Ingestion Engine Theory is my main investment theory. Since data is the fuel that powers artificial/augmented intelligence, companies that are able to produce value that gets them paid to ingest and analyze valuable data sets at are going to be valuable.
Analytical Thinking is a fortnightly newsletter from the UK Business Analytics team.
The purpose of the newsletter is to raise awareness about why analytics is a hot topic at the moment, where is analytics being referenced in the press and in what ways are organisations using analytics.
Business Analytics (Operational Research) is part of the Digital Transformation team in Capgemini Consulting UK
Data Mining: The Top 3 Things You Need to Know to Achieve Business Improvemen...Dr. Cedric Alford
While companies have been using various CRM and automation technologies for many years to capture and retain traditional business data, these existing technologies were not built to handle the massive explosion in data that is occurring today. The shift started nearly 10 years ago with expanding usage of the internet and the introduction of social media. But the pace has accelerated in the past five years following the introduction of smart phones and digital devices such as tablets and GPS devices. The continued rise in these technologies is creating a constant increase in complex data on a daily basis.
The result? Many companies don't know how to get value and insights from the massive amounts of data they have today. Worse yet, many more are uncertain how to leverage this data glut for business advantage tomorrow. In this white paper, we will explore three important things to know about big data and how companies can achieve major business benefits and improvements through effective data mining of their own big data.
Dr. Cedric Alford provides a roadmap for organizations seeking to understand how to make Big Data actionable.
Blockchain the inception of a new database of everything by dinis guarda bloc...Dinis Guarda
Blockchain the inception of a new database of everything by Dinis Guarda blockchain age
Trends and questions?
1. Redefinition of banking and relation with Blockchain
Mobile App banking finance – mobile ledgers – blockchain identity
New products and the emergence of DAO products.
2. System Legacies in paralel with advanced tech - Ethereum.
3. Distribution Strategy in a new Digitalised World who own what.
4. Super computer Cloud base blochcain solutions / infrastructure.
5. Emergence of AI IOE in relation with blockchain all connected.
6. User Experience, UI, UE, Big data and the IOE blockchain touching.
7. Blockchain Cyber Security and Value Reinvention.
Global Data Management: Governance, Security and Usefulness in a Hybrid WorldNeil Raden
With Global Data Management methodology and tools, all of your data can be accessed and used no matter where it is or where it is from: on-premises, private cloud, public cloud(s), hybrid cloud, open source, third-party data and any combination of the these, with security, privacy and governance applied as if they were a single entity. Ingenious software products and the economics of computing make it economical to do this. Not free, but feasible.
Big data refers to the large amounts of data collected from various sources like cell phones, credit cards, and the internet. As big data continues to grow exponentially, accountants must learn new skills to analyze and manage all this data. Traditional accounting methods like Excel spreadsheets are no longer sufficient. Accountants will need to form new partnerships and collaborate across departments to extract useful insights from big data. While big data presents many challenges, it also provides opportunities to improve business decisions, target customers more effectively, and even combat fraud through advanced data analysis. The role of accountants is evolving to be more strategic and analytic as businesses rely more heavily on big data.
This document discusses why organizations should become analytics-driven. It argues that analytics can help organizations reinvent their business, achieve operational excellence, improve customer experience, ensure trust and compliance, and identify new opportunities. It provides examples of how analytics has helped companies in areas like drilling, customer listening, and purchase prediction. The document also outlines the key dimensions needed for an organization to truly become analytics-driven, including leadership, strategy, culture, capabilities, skills, data, technology, processes, and rules. It proposes that organizations should start on an analytics journey and assess their current analytics maturity.
The Path to Manageable Data - Going Beyond the Three V’s of Big DataConnexica
This document discusses how businesses can gain value from big data through effective analysis and actionable insights. It outlines the traditional "3 Vs" of big data (volume, velocity, variety) and additional "Vs" like veracity, variability, visualization, and value. Effective business analytics software can help validate data quality, analyze diverse data formats, and present insights visually for quick decision making. The document also provides examples like how a local authority used analytics software to transform large volumes of parking, service, and tax records into actionable reports.
Operationalizing a Vision for the Monetization of Telco Consumer DataPrecisely
Telecommunications companies have an abundance of subscriber activity data at their fingertips, which can be highly valuable to third-party organizations when it comes to location-based decision making. But how can telcos properly enrich this data with the context needed in order to successfully turn that data into a revenue stream for their business?
View this short on-demand webcast, where our Customer Information Director, Dominic Tomey, discusses the following:
• Why location intelligence, particularly mobile trace data, can be so valuable for clients when making decisions based on location – particularly for retail, banking and other financial institutions
• How Precisely worked with a large provider of wireless telecommunications to successfully monetize their consumer data
• How to correctly apply contextual enrichment in order to derive the most value from subscriber activity data – including the use of demographics and point of interest data
• How to drive results through self-service environments in order to visualize the outputs for further analysis, as well as for Machine Learning and AI applications
Big Data Analytics: The art of the data scientist discusses the evolution of data analytics and roles of data scientists. It explains that while volume is interesting, distinguishing big data requires understanding patterns in incomplete and anonymized data from multiple sources. Effective data science discovers unknown insights, provides business value through predictive models and data products, and builds confidence in decisions through explanation and storytelling.
For this paper, we interviewed some of the leading voices in the connected car industry to uncover some of the trends influencing the market, and what it might mean for the future of any business seeking to capitalize on this radical change in how we live and move. We examine how these changes are fundamentally altering the talent landscape in the industry, heralding the arrival of a new breed of executives to fill an evolving talent gap in the mobility sector; created by the convergence of the traditional automotive sector and a myriad of outside influences.
This document summarizes a presentation on creating value from big data and business analytics. It discusses research conducted with three large UK organizations: a mobile telecom operator, television company, and integrated transport authority. The research aimed to understand how these organizations leverage their big data and analytics capabilities to create business value. Key findings included using mobile network data for location-based services and public alerts, predictive modeling of viewers for targeted advertising, and travel data analysis to improve transport operations and customer experiences.
Hive on Tez provides significant performance improvements over Hive on MapReduce by leveraging Apache Tez for query execution. Key features of Hive on Tez include vectorized processing, dynamic partitioned hash joins, and broadcast joins which avoid unnecessary data writes to HDFS. Test results show Hive on Tez queries running up to 100x faster on datasets ranging from terabytes to petabytes in size. Hive on Tez also handles concurrency well, with the ability to run 20 queries concurrently on a 30TB dataset and finish within 27.5 minutes.
Este documento presenta información sobre Paolo Francisco Gonzalez Carotti y su postgrado en Planificación y Aseguramiento de la Calidad ISO. También describe los procesos lineales e intermitentes, destacando que los procesos lineales se caracterizan por producir altos volúmenes de un solo producto de forma continua, mientras que los procesos intermitentes producen lotes de varios productos de forma interrumpida en diferentes centros de trabajo.
El medio ambiente se refiere al entorno que afecta y condiciona la vida de las personas, incluyendo componentes físicos, químicos, biológicos, sociales, económicos y culturales, así como valores naturales, sociales y culturales de un lugar. Comprende no solo el espacio donde se desarrolla la vida, sino también seres vivos, objetos, agua, suelo, aire y las relaciones entre ellos.
Este capítulo trata sobre la neurociencia del aprendizaje y la relación entre el sistema nervioso, el aprendizaje y la conducta. Se describe la organización del sistema nervioso central y autónomo, asi como las principales estructuras y funciones del cerebro como la amígdala, el hipocampo y los diferentes lóbulos. También se explican los métodos para investigar el cerebro y los factores que influyen en su desarrollo, como la genética, las hormonas y el ambiente. Finalmente, se cubren temas como la motivación,
This document contains questions asking about prices of various items like CDs, phones, necklaces, socks, scarves, blouses, and boots. The questions follow a format of "How much is/are _______" to inquire about the cost of different products.
This is slides from our recent HadoopIsrael meetup. It is dedicated to comparison Spark and Tez frameworks.
In the end of the meetup there is small update about our ImpalaToGo project.
This document discusses tuning a pipeline with Apache Tez. It provides an overview of Tez, including that it aims to enhance scenarios not well served by MapReduce by supporting Hive and Pig. It details lessons learned from using Tez, such as some Pig tasks not compiling and occasional freezing, lack of DistributedCache support for S3, and poor Amazon support. The document concludes by stating that Tez is good for early adopters of Pig and Hive and those with bounded workloads.
El documento habla sobre el conductismo y sus principales teorías del aprendizaje como el condicionamiento clásico y el condicionamiento operante. Explica conceptos como el aprendizaje por ensayo y error según la teoría de Thorndike, el condicionamiento clásico de Ivan Pavlov, y el papel de las recompensas y castigos en la formación y cambio de hábitos según el condicionamiento operante. También menciona objetivos conductuales, reforzamiento positivo y negativo, y factores como el tiempo de aprend
Entrenamiento en habilidades sociales-santamarialilianaLiliana Santamaría
En esta presentación podrás encontrar algo de historia del entrenamiento en habilidades sociales, los derechos humanos en este contexto, la asertividad como habilidad y el procedimiento para entrenar, entre otros.
Hive, Impala, and Spark, Oh My: SQL-on-Hadoop in Cloudera 5.5Cloudera, Inc.
Inefficient data workloads are all too common across enterprises - causing costly delays, breakages, hard-to-maintain complexity, and ultimately lost productivity. For a typical enterprise with multiple data warehouses, thousands of reports, and hundreds of thousands of ETL jobs being executed every day, this loss of productivity is a real problem. Add to all of this the complex handwritten SQL queries, and there can be nearly a million queries executed every month that desperately need to be optimized, especially to take advantage of the benefits of Apache Hadoop. How can enterprises dig through their workloads and inefficiencies to easily see which are the best fit for Hadoop and what’s the fastest path to get there?
Cloudera Navigator Optimizer is the solution - analyzing existing SQL workloads to provide instant insights into your workloads and turns that into an intelligent optimization strategy so you can unlock peak performance and efficiency with Hadoop. As the newest addition to Cloudera’s enterprise Hadoop platform, and now available in limited beta, Navigator Optimizer has helped customers profile over 1.5 million queries and ultimately save millions by optimizing for Hadoop.
El documento describe el medio ambiente y los factores naturales que lo afectan. Define el medio ambiente como el conjunto de componentes físicos, biológicos y sociales que influyen en la vida humana y futuras generaciones. Explica que tanto organismos vivos como factores climáticos como la lluvia, el viento y la nieve pueden beneficiar o perjudicar el entorno natural, y que el relieve, la deforestación, la sobreforestación e incendios forestales son factores naturales que impactan adversamente el medio ambiente.
Hive on spark is blazing fast or is it finalHortonworks
This presentation was given at the Strata + Hadoop World, 2015 in San Jose.
Apache Hive is the most popular and most widely used SQL solution for Hadoop. To keep pace with Hadoop’s increasingly vital role in the Enterprise, Hive has transformed from a batch-only, high-latency system into a modern SQL engine capable of both batch and interactive queries over large datasets. Hive’s momentum is accelerating: With Spark integration and a shift to in-memory processing on the horizon, Hive continues to expand the boundaries of Big Data.
In this talk the speakers examined Hive performance, past, present and future. In particular they looked at Hive’s origins as a petabyte scale SQL engine.
Through some numbers and graphs, they showed how Hive became 100x faster by moving beyond MapReduce, by vectorizing execution and by introducing a cost-based optimizer.
They detailed and discussed the challenges of scalable SQL on Hadoop.
The looked into Hive’s sub-second future, powered by LLAP and Hive on Spark.
And showed just how fast Hive on Spark really is.
Three big questions about AI in financial servicesWhite & Case
To ride the rising wave of AI, financial services companies will have to navigate evolving standards, regulations and risk dynamics—particularly regarding data rights, algorithmic accountability and cybersecurity.
Big Data Means Big Business
Big data has the potential to disrupt existing businesses and help create new ones by extracting useful information from huge volumes of structured and unstructured data. To realize this promise, organizations need cheap storage, faster processing, smarter software, and access to larger and more diverse data sets. Big data can unlock new business value by enabling better-informed decisions, discovering hidden insights, and automating business processes. While the technology is available, organizations must also invest in skills, cultural change, and using information as a corporate asset to fully leverage big data.
The document discusses 25 predictions about the future of big data:
1) Data volumes and ways to analyze data will continue growing exponentially with improvements in machine learning and real-time analytics.
2) More companies will appoint chief data officers and use data as a competitive advantage.
3) Data governance, visualization, and delivery through data fabrics and marketplaces will be key to extracting insights from diverse data sources and empowering partners.
4) Data is becoming a new global currency and companies are monetizing their data through algorithms, services, and by becoming "data businesses."
As demand for digital talent reaches a crescendo, CIOs are increasingly embracing an Uber-like approach to filling key technical roles throughout their organizations.
By 2020 more than 7 billion people will be communicating and performing transactions over the web on over 35 billion devices. So how can companies effectively create a digital identity that promises security, ease and comfort for its customers? This study, sponsored by Oracle, assesses the role identity plays in the digital economy. Visit hub: http://bit.ly/1LKqXfN
This document provides an overview of predictive analytics and its growing importance. It discusses how advances in technologies like cloud computing and the internet of things are enabling businesses to gather and analyze vast amounts of data. While descriptive and diagnostic analytics describe what happened in the past, predictive analytics uses statistical techniques to create models that forecast future outcomes. The document outlines several key drivers that are pushing predictive analytics towards mainstream adoption over the next few years, including easier-to-use tools, open source software, innovation from startups, and the availability of cloud-based solutions. It concludes that the combination of big data and predictive analytics will continue to accelerate innovation across industries.
This document provides an overview of digital transformation and big data. It discusses key trends driving digital transformation like digitalization, social media, and mobility. It also covers what big data is, various sources of big data, how insights can be gained from big data analysis, and some of the ethical considerations around big data. The document outlines approaches for analyzing big data, including dealing with false correlations and overfitting models to vast amounts of data.
The document summarizes the emerging opportunities and challenges around personal data as a new asset class. It outlines how personal data is being generated at unprecedented scales from various sources. However, the current personal data ecosystem remains fragmented without common standards or principles. The summary identifies key stakeholders in the ecosystem, including individuals, private sector companies, and governments, and notes they each have different and sometimes conflicting needs and interests. It argues a balanced ecosystem can be achieved by adopting an end-user centric approach that empowers individuals and aligns all stakeholders around common goals of trust, transparency and value creation.
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Big Data presents both opportunities and challenges for insurance companies. It allows for more customized products and services through improved segmentation, prediction, and risk analysis. However, it also requires developing a data-driven culture and trust in data governance to realize these benefits. Emerging techniques like predictive modeling, data clustering, sentiment analysis and web crawling can provide new insights but also raise concerns around data privacy and security with more personal customer information. Overall, insurance companies that embrace Big Data and make data-driven decisions are found to be 5% more productive and 6% more profitable.
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This document discusses several trends in analytics for 2016:
1. Data security is a major concern as data volumes grow exponentially and security risks increase. Analytics can help secure data but requires integration across innovation, analytics, connectivity and technology.
2. The Internet of Things generates massive sensor data that requires new analytics to extract value, though challenges remain in integrating sensor and structured data in real time.
3. Open source analytics solutions like Hadoop are increasingly used by enterprises but also require careful risk management and a clear strategy to ensure they align with technology needs.
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1. Data security is a major concern as data volumes grow exponentially, requiring companies to quadruple down on security efforts through innovation, analytics, and tighter integration.
2. The rise of the Internet of Things generates massive sensor data that requires new analytics to extract value, though challenges remain in integrating these systems.
3. Some argue that data should be monetized as an asset, but this brings risks around privacy, ethics, and real costs that companies need to consider carefully.
4. Cognitive analytics is enhancing decision-making by providing users with vast new sources of knowledge, though questions remain about how these systems will impact human roles over time
This document provides an overview of how big data and data science can create value for banks. It discusses how banks generate large amounts of structured and unstructured data from various sources that can be analyzed to improve areas like fraud detection, customer churn analysis, risk management, and marketing campaign optimization. The document also provides case studies of how one company, InData Labs, has helped various banks leverage big data analytics to solve business problems in these areas.
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The document discusses predictive analytics and business insights. It covers what data analytics is and its challenges, the importance of data foundation and governance, security issues with data, and a retail use case. The future of data analytics is also discussed, with more structured, human interaction, and machine data expected to be analyzed. Establishing a robust data foundation is key to enabling trusted reporting and analytics.
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This document discusses big data implementation in organizations and the potential opportunities and challenges. It begins by defining big data and explaining the key drivers of increasing data volumes, such as social media, the internet of things, and multimedia data. It then outlines some of the major benefits organizations can gain from big data, including improved decision making, customer experiences, and sales. However, successfully implementing big data also faces roadblocks such as selecting the right tools, techniques, and data sources. The document provides examples of technologies, methods, and skills needed to optimize big data initiatives.
Big data offers companies a big advantage if they can harness enormous data sets that were previously impossible to process. The document discusses how big data is transforming business models through creative destruction, as more data is created every day from various sources. It provides examples of how companies in various industries like retail, banking, and manufacturing are using big data for customer intimacy, product innovation, and improving operations. Specifically, companies are able to better customize products and services, improve supply chain management, and gain real-time insights from vast amounts of structured and unstructured data.
This document discusses how data is transforming the way businesses operate and people live through the emergence of Big Data. It explains that raw data needs to be analyzed and given meaning to have value. It describes how data comes from connected devices, is analyzed by data scientists and programmers, and how open sharing of data is important. It outlines opportunities for businesses to gain insights from large, complex data sets and how data can automate tasks, customize experiences, and improve lives when given meaning for people.
Big data offers opportunities for companies to gain competitive advantages through improved customer intimacy, product innovation, and operations. The document discusses how various companies are leveraging big data across industries. It notes that 45% of companies have implemented big data initiatives in the past two years and over 90% of Fortune 500 companies will have initiatives underway soon. Harnessing big data's potential requires understanding where it can create value within a company and having the right organizational structure, technology investments, and plan to capture those benefits.
Similar to Oracle-The Rise of Data Capital-MIT Technology Review (20)
Oracle-The Rise of Data Capital-MIT Technology Review
1. The Rise of Data Capital
“Formostcompanies,their
dataistheirsinglebiggest
asset.ManyCEOsinthe
Fortune500don’tfully
appreciatethisfact.”
– AndrewW.Lo,Director,MITLaboratory
forFinancialEngineering
Producedinpartnershipwith
MIT TECHNOLOGY REVIEW CUSTOM
“Computinghardwareused
tobeacapitalasset,while
datawasn’tthoughtofas
anassetinthesameway.
Now,hardwareisbecoming
aservicepeoplebuyinreal
time,andthelastingassetis
thedata.”
– ErikBrynjolfsson,Director,MITInitiative
ontheDigitalEconomy
2. MIT TECHNOLOGY REVIEW CUSTOM + ORACLE2
Data Capital Creates
New Value
In 2013, an international ring of
cybercriminals attacked one of
the world’s largest online ticket
marketplaces. But they didn’t do
anything as obvious as hacking in
and stealing credit card information.
Instead, they hijacked legitimate
customer accounts using stolen log-in
credentials. Then they purchased
tickets to sporting and music events
using the customers’ payment
methods, resold those tickets, and
pocketed the cash.
Thatkindofonlinetheftisbigbusiness.
In 2015, identity fraud affected 13.1
million people in the United States
alone at a cost of $15 billion, according
to Javelin Strategy Research. Digital
thieves are often hard to spot because
they hide in plain sight, masquerading
as legitimate customers while carrying
out fraudulent transactions.
At the time it was breached, the ticket
marketplace had nearly 40 million
accounts. How did the company figure
out which ones were compromised? Its
data scientists analyzed eight years of
transaction and customer histories to
identify the anomalies that indicated
this scam.
But fraud detection is a cat-and-mouse
game: As soon as the bad guys know
someone is on to them, they try a
new angle. Algorithmic detection is
the only way to keep up, and training
on mountains of data is the only way
for algorithms to learn the difference
between good behavior and bad. Since
the 2013 attack, improved algorithmic
policing at the time of purchase has
reduced fraud attempts at that ticket
marketplace by 95 percent.
In this example, it’s easy to focus on
the algorithm as the hero of the story.
But it’s really just an engine; data is
the fuel that makes it run. Without
the data, the fraud-detection capability
cannot exist. Data is as necessary to
the marketplace as its ticket inventory,
the people who manage the business,
and the money that pays for it all.
This simple idea has big implications.
It means that data is now a kind of
capital, on par with financial and
human capital in creating new digital
products and services. Enterprises
need to pay special attention to data
capital, because it’s the source of
much of the added value in the world
economy. “More and more important
assets in the economy are composed
of bits instead of atoms,” notes Erik
Brynjolfsson, director of the MIT
Initiative on the Digital Economy.
In fact, many companies that are light
on physical assets but heavy on data
assets—forinstance,Airbnb,Facebook,
and Netflix—have changed the terms
of competition in their respective
industries. While many incumbent
companies possess comparably large
troves of data, they don’t exploit it
nearly as well. These companies must
adopt a new mindset, Brynjolfsson
says: “They should start thinking of
data as an asset.”
A 2011 study conducted by
Brynjolfsson and colleagues at MIT
and the University of Pennsylvania
supports the concept of data as a
capital asset. Based on surveys of
Executive Summary
Data is now a form of capital, on the
same level as financial capital in terms
of generating new digital products
and services. This development has
implications for every company’s
competitive strategy, as well as for
the computing architecture that
supports it.
Contrary to conventional wisdom,
data is not an abundant resource.
Instead, it is composed of a huge
variety of scarce, often unique,
pieces of captured information. Just
as retailers can’t enter new markets
without the necessary financing, they
can’t create new pricing algorithms
without the data to feed them. In
nearly all industries, companies are
in a race to create unique stocks of
data capital—and ways of using it—
before their rivals outmaneuver them.
Firms that have yet to see data as a raw
material are at risk.
The vast diversity of data captured
and the decisions and actions that use
that data require a new computing
architecture that includes three key
characteristics: data equality, liquidity,
and security. The pursuit of these
characteristics drives the reinvention
of enterprise computing into a set of
services that are easier to buy and
use. Some will be delivered over the
Internet as public cloud services.
Some corporate data centers will be
reconfigured as private clouds. Both
must work together.
New capabilities based on this new
architecture, such as data-driven
tailoring of products and services, will
yield not only radical improvements
in operational effectiveness, but also
new sources of competitive advantage.
“Somefinancialservices
companiesstilldon’tseemto
understandthatthey’resitting
onagoldmine,andthatifthey
ignoreit,thegoldminecanjust
turnintoatrashheap.They’re
literallythrowingawaypearls
ofwisdombecausenobodyis
lookingatthedata.”
– AndrewW.Lo,Director,MITLaboratory
forFinancialEngineering
3. MIT TECHNOLOGY REVIEW CUSTOM + ORACLE 3
nearly 180 large public companies,
researchers concluded that businesses
that emphasize “data-driven decision
making” (DDD) performed highest
in terms of output and productivity—
typically “5 to 6 percent higher than
what would be expected, given their
other investments and information
technology usage,” said the report.
“Collectively, our results suggest that
DDD capabilities can be modeled as
intangible assets which are valued by
investors and which increase output
and profitability.”
In fact,“for most companies, their data
is their single biggest asset,” notes
financial economist Andrew W. Lo,
who is Charles E. and Susan T. Harris
Professor of Finance at the MIT Sloan
School of Management and director
of the MIT Laboratory for Financial
Engineering. But, he notes: “Many
CEOs in the Fortune 500 don’t fully
appreciate this fact.” Perceptions about
the value of data vary widely from
industry to industry, says Lo, who is
also a principal investigator at the
MIT Computer Science and Artificial
Intelligence Laboratory. “Uber,
Amazon, eBay—these companies really
understand predictive analytics. Big-
box retail stores also understand the
value of their data.” But many other
industries have yet to focus on data as
an asset.
For example, Lo says, “some financial
services companies still don’t seem to
understand that they’re sitting on a
gold mine, and that if they ignore it,
the gold mine can just turn into a trash
heap.” Specifically, some financial-
services institutions gather, but don’t
save, valuable demographic data about
their clients and their activities, Lo
says: “They’re literally throwing away
pearls of wisdom because nobody is
looking at the data, and because it’s
taking up space.”
Data capital encompasses all digital
data: truck movements captured
by GPS trackers; “likes” and shares
recorded by social media; purchases,
returns, and reorders held in enterprise
transactional systems. “The challenge
is embracing this diversity and
figuring out how to use it at scale,” says
Paul Sonderegger, Oracle’s big data
strategist. In addition, Sonderegger
says, data capital requires new
computing infrastructure and deep
understanding of how to create
applications that analyze and use the
information.
Data’s Economic
Identity
To call data a kind of capital isn’t
metaphorical. It’s literal. In economics,
capital is a produced good, as opposed
to a natural resource, that is necessary
for the production of another good or
service. Data capital is the recorded
information necessary to produce a
good or service. And it can have long-
term value just as physical assets, such
as buildings and equipment, do. “With
data capital, if you know something
about your customer or production
process, it might be something that
yields value over the years,” says
Brynjolfsson, who is also the Schussel
Family Professor at the MIT Sloan
School of Management.
“Commonobservationsabout
theabundanceofdataare
misleading.Instead,theissue
isoneofvariety—thefactthat
thereareenormousamounts
ofscarce,orevenunique,
piecesofdata.”
–PaulSonderegger,BigDataStrategist,Oracle
Sources:OceanTomoLLC,2015IntangibleAssetMarketValueStudy;The
WallStreetJournal
Early Attempts to Value Data Capital
Percentage of the market value of SP 500
companies that comes from intangible assets,
including data and software
Possible value of intangible assets, including data,
in the United States
84%
$8
trillion
4. MIT TECHNOLOGY REVIEW CUSTOM + ORACLE4
Brynjolfsson acknowledges that the
concept of an intangible asset can be
challenging to grasp. “You can’t see
data the way you can see buildings, and
people are inevitably biased against
things that they can’t see,” he says. “It’s
a blind spot. But this is something
that is more and more important to
the world economy. It’s not visible, but
it’s still something that smart managers
have to keep an eye on.”
However, data capital plays by its
own rules. “It shares characteristics
with several other kinds of capital,
but combines them into a unique mix
found nowhere else,” Sonderegger
notes. Ultimately, he says, data is a
non-rivalrous, non-fungible experience
good:
• Non-rivalrous. Capital equipment,
such as a truck, for example, can be
used by only one person at a time.
Economists call this kind of resource
“rivalrous.” It’s the same with financial
capital. You can invest a dollar in only
one opportunity at a time. However,
data is different. “A single piece of data
can fuel multiple algorithms, analytics,
and applications simultaneously,”
Sonderegger says.
• Non-fungible. True commodities,
such as barrels of oil, are fungible, or
substitutable. For instance, you can
substitute one barrel for another. But
a given piece of data, such as a price,
can’t be substituted for another, such
as a consumer sentiment score, because
each carries different information. “As
a result, common observations about
the abundance of data are misleading,”
Sonderegger says. “Instead, the issue is
one of variety—the fact that there are
enormous numbers of scarce, or even
unique, pieces of data.”
• An experience good. Experience
goods, such as movies or books, are
things whose value is realized only after
you’ve experienced them. With data,
this means you only know its value after
you’ve put it to use, Sonderegger says.
This is why choosing which movies or
books—or data—in which to invest
your time, money, and attention always
carries with it a degree of uncertainty.
If this all sounds too academic,
beware. Seeing data as capital is both
highly practical and urgent in real-
world business, because it reveals the
playbook of potential digital disruptors.
Data Capital Disrupts
Data capital is one of the most
important assets of every online
consumer service created in the past
decade. Google, Amazon, Netflix, and
Uber have all realized that data is more
than just a record of something that
happened. Data is raw material for
creating new kinds of value, especially
digital services. And sometimes, these
digital services—whether offered on
their own or wrapped around physical
products—disrupt incumbents and
reorganize entire industries.
The concept of disruptive innovation
initially was made famous by Clayton
M. Christensen, a best-selling business
author and Kim B. Clark Professor of
Business Administration at Harvard
Business School. Christensen pointed
outthatsometechnologicalinnovations
allow new entrants to change the terms
of competition in established markets,
threatening incumbent market leaders
many times larger.
In some cases, the changes reverberate
well beyond the original markets.
For example, Lo says, “It may not
be obvious to a bricks-and-mortar
businessman what Uber actually offers,
but there’s little doubt that it has had
a massive impact on transportation,
fuel economy, and people’s lives.” But
when looking at data, Lo says, many
CFOs don’t focus on the business and
economic implications. “They tend to
view data as just a technology issue, not
a strategic asset.”
New technologies can enable two kinds
of disruptive strategies. The first, low-
end disruption, lets new entrants
compete directly with incumbents, but
at a dramatically lower price. Amazon
used that strategy successfully in the
retail-book industry; WhatsApp did
so in messaging, pushing the price to
zero. The second type of strategy, new-
market disruption, allows companies
to target non-consumption, reaching
customers who previously lacked the
time, skill, or money to access a product
or service. For example, Netflix’s
original DVD-by-mail service was so
much more convenient than going to a
store that it put the leading brick-and-
mortar DVD rental companies out of
business.
One key characteristic of disruptive
innovations is that while, by traditional
measures, they may not be as good as
existing products, they compensate
by being better in other dimensions,
such as price, convenience, or new
features. This advantage becomes
disruptive when the new offering not
only improves in its new dimensions
of performance, but also becomes
good enough in the old ones that the
traditional market embraces it and
leaves incumbent offerings behind.
But if disruptive strategies are so
well known, then why are they still
threatening? How can they still take
Theexplosivelyfastgrowth
indigitalservicesraisesthe
specterofdisruptionbefore
anincumbentevenknows
it’sintrouble.Andwiththe
increaseofdigitizationand
dataficationineveryindustry,
everycompanyhasexposure
todata-capitaldisruption.
Thequestioniswhattodo
aboutit.
5. MIT TECHNOLOGY REVIEW CUSTOM + ORACLE 5
incumbents by surprise? In a word,
speed. Some of Christensen’s original
examples, such as the steel mini-
mills that marginalized integrated
mills, took decades to unfold. By
contrast, Uber grew to more than a
$50 billion valuation in six short years.
Digital services grow at blistering
speeds because of network effects,
low distribution costs, and data-
driven learning curves. But their
value, Brynjolfsson says, “can vanish
very quickly, and it can scale and be
replicated very quickly as well. It
creates a situation of volatility and
winner-take-all markets.”
Network effects happen when each
user of a solution benefits from the
fact that many peers have chosen the
same solution. The telephone system is
a good example, as is any social-media
service. Again, network effects tend
toward a winner-take-all outcome in a
given market.
The costs for companies to distribute
digital services are low because Internet
and wireless providers have invested
heavily to build out their networks,
and 2.6 billion users worldwide had
smartphones in their pockets at the
end of 2014, according to Ericsson’s
2015 Mobility Report. The Swedish
technology giant’s research predicts
that 6.1 billion people—or about 70
percent of the world’s population—
will use smartphones by 2020. The
ability to immediately find and access
information online reduces consumers’
search costs to learn about a new
service and figure out whether it’s
worth their time to try.
The data produced by consumers’
interactions with these services
fuels data-driven hypotheses about
new features to add, then generates
data about the adoption of those
capabilities. Amazon did that with
its recommendation algorithms, and
Facebook did it by inserting news into
members’ feeds.
This all adds up to explosively fast
growth in digital services, raising
the specter of disruption before an
incumbent even knows it’s in trouble.
And with the increase of digitization
and datafication in every industry,
every company has exposure to data-
capital disruption. The question is what
to do about it.
Three Principles of
Data Capital and How
to Apply Them
Competitive strategy means creating
unique value in a unique way,
economist Michael Porter, Bishop
William Lawrence University Professor
at Harvard Business School, has said.
It’s not enough to provide products or
services that your customers can only
get from your company. Your company
also has to create those offerings in a
way your rivals can’t easily copy.
In his classic 1996 Harvard Business
Review article “What Is Strategy?,”
Porter described this hard-to-copy
way of creating value as a company’s
“activity system.” Activities are the
processes a company carries out
every day—the way it runs marketing
campaigns, designs products, bundles
offerings, provides support, manages
risk, and protects patents. Every
activity uses a combination of financial,
skill-related, technology, information,
or process resources.
Datacapitalwillextendthe
reachofalgorithmicdecision-
making.Asmanagers
incorporatemoredatainto
theirthinking,morekindsof
decisionswillrevealtheirinner
logic.Choicesoncethought
tobestrictlythedomainof
humanbeingswillbecomethe
provinceofmachines.
Data’s Economic Identity
Non-rivalrous. A single piece of data can be used
by multiple algorithms, analytics, or applications at
once.
Non-fungible. One piece of data can’t be
substituted for another, because each carries
different information.
An experience good. The value of information
can only be attained by knowing the information
itself. But once known, the information can be easily
replicated.
In contrast:Data is:
A single dollar or piece of capital equipment can
be used by only one party at a time.
With a true commodity, such as barrels of oil, one
unit can be substituted for another.
The value of a durable good can only be attained
by possession of the physical item, not simply
knowing about it.
6. MIT TECHNOLOGY REVIEW CUSTOM + ORACLE6
Because information is the only
resource both used and produced
by every activity in a company, the
digitization and datafication of more
and more daily activities has a big
impact on competitive strategy. The
good news for incumbents: The tools
of data capital are available to all
companies, not just to startups. In fact,
enterprises have a distinct advantage in
amassing stocks of data capital because
of the volume of their interactions with
customers, suppliers, and partners.
The three following principles—which
Lo, of MIT Sloan, describes as good
guidelines for data capital—show how
to exploit this advantage.
Principle #1: Data Comes
from Activity
From a data-production perspective,
activities are like lands waiting to be
discovered. Whoever gets there first
and holds them gets their resources—in
this case, their data riches. But not all
that glitters is data gold; some activities
are more valuable than others.
All activities produce information,
but they don’t produce digital data
unless they involve an application,
device, or sensor. Companies that
have been able to see and pursue this
foregone data—the information rising
off activities, places, and things like
so much evaporating steam—have
profited greatly from it. When Google
deployed fleets of cars onto the world’s
roads to capture imagery, distances,
and wireless network IDs, and to
associate all that information with
GPS coordinates, few understood that
the cars were amassing data capital
that could be used to create search,
navigation, and ad-placement services.
Utilities installing smart meters,
brokerages creating mobile advisory
apps, travel sites recording all the offers
visitors don’t click on—all of these are
colonizing new data lands.
It’s difficult to know which activities
will yield the most valuable data. The
answer will vary from industry to
industry and company to company.
Naturally, a company should focus on
activities that reinforce its competitive
advantage, the things that make it
unique. However, to make educated
guesses, a company should look first
to its biggest revenue and cost drivers,
especially where it interacts with
the outside world. Interactions with
customers, suppliers, and partners
are particularly crucial because
rivals are probably looking at them,
too. It’s imperative to digitize key
activities before the competition does.
The reason: If you’re not party to an
activity when it happens, your chance
to capture its data is lost forever.
For example, the Australian
supermarket chain Coles is
experimenting with a palm-sized
kitchen device for making grocery
lists. Scan a barcode or just tell it
you want milk, and it adds the item
to an online list. Through the device,
Coles can gather data not just about
the items customers want, but also
about how and when customers
make their shopping lists, opening
new possibilities for targeted ads and
improved service.
Digitizing activities means involving
sensors or mobile apps in the activities
in some way. Datafying activities
means expanding the observations you
capture about them. “Datafication”—a
term introduced by Kenneth Cukier
and Viktor Mayer-Schönberger in
Big Data: A Revolution That Will
Transform How We Live, Work,
and Think (Eamon Dolan/Mariner
Books, 2014)—runs contrary to data-
management orthodoxy, which tries
to settle on the minimum dataset
necessary.
Theriseofdatacapital
demandsanewenterprise
computingarchitecture.
Strengtheningasingletierof
theITstackwilljustcreatenew
bottleneckssomeplaceelse.
Theentirestackmustbeefup.
7. MIT TECHNOLOGY REVIEW CUSTOM + ORACLE 7
For instance, an airplane manufacturer
captures tens of millions of data points
from every test flight of its latest
passenger plane. Engineers use this
data to speed up the delivery of safe
planes, but what else will they do with
all of those observations of such a
variety of flight characteristics? Not
even the manufacturer knows yet.
But the option value on potential uses
of that data is likely greater than the
cost to capture, store, and experiment
with it.
Principle #2: Data Tends
to Make More Data
Algorithms that drive pricing, ad
targeting, inventory management,
or fraud detection all produce data
about their own performance that can
improve their future performance. This
data-capital flywheel effect creates a
competitive advantage that’s very hard
for other organizations to overcome,
which makes experimenting with data
from new digital touch points doubly
important.
For example, Uber uses a dynamic
pricing algorithm when demand for
rides is exceptionally high. Surge
pricing, as it’s called, raises the normal
prices of fares to provide an incentive
for more drivers to get on the road,
bringing supply in line with demand.
But the price can’t rise so high that
customers leave the service in disgust.
The surge-pricing multiple, which has
risen as high as eight times the normal
fare, is determined algorithmically
based on Uber’s data about supply
and demand in different cities under
different conditions. Because the
algorithm runs on proprietary data,
only Uber can use it. More important:
Every time surge pricing runs, Uber
captures more data about price
sensitivity under yet another set of
conditions, fine-tuning the algorithm’s
future performance.
The challenge for most companies is
to figure out where this data-capital
flywheel effect will be most powerful.
While careful thinking by domain
experts is useful on this front, real-
world experimentation is the true key.
Businesses must develop both
infrastructure and new skills in
experiment design, data analysis, and
interpretation. Managing that process
will require new tactics to handle
conflicting, data-driven perspectives
on the same topic.
Principle #3: Platforms
Tend to Win
Network effects, so important in the
growth of digital services, come in two
types. Direct network effects—which
affect users in a single market, like
people on a particular social network—
are a double-edged sword: They can
shift into reverse as users hop to the
next thing. Consider the collapse of
the social network MySpace after
Facebook’s rapid rise.
Indirect network effects happen when
there are two or more markets, and
a user in one benefits from choosing
the same solution as the majority of
the other group. People who use credit
cards, for example, want to carry a
card that more merchants will take,
and merchants want to take the kind
of card that more people have. The
same goes for application developers
and computer users in their choices of
operating systems, game developers
and gamers in their choice of
consoles, and potential employers and
job-seekers in their choice of job-
market sites.
In each of these examples, there is a
platform between the two markets
that reduces the transaction costs for
the two sides. Growth on one side
attracts users on the other, and vice
versa, leading to a winner-take-all or
winner-take-most outcome. Platforms
increase their staying power by adding
new features that support more linked
and adjacent activities for players in
each market.
Digitization and datafication of more
activities brings platform competition
to the doorstep of companies that may
have never seen it before: health care
providers and payers, manufacturers,
property developers, maintenance and
repair providers. For example, drones
now generate near-infrared images of
crops that indicate nitrogen uptake
from the soil. This information can be
fed to a spreader to target the right mix
and amount of fertilizer for different
areas of the field. In addition, data on
crop yields from seed makers and on
weather-related risk from insurers
could improve output even further.
The maker of the tractor in the middle
suddenly finds itself competing to be
the platform for agricultural services.
Companies must reevaluate their
strategic positioning by looking for
platform threats, Sonderegger says.
“Ask where a new entrant might set
up as a platform between two markets
in the industry,” he advises. “Then
consider how your company might
digitize and datafy activities key to that
potential platform before the would-be
disruptor gets there.”
Adata-centricapproach
tosecuritystillincorporates
traditionaltacticslikehardening
theperimeter.Butitalso
recognizestherealitiesofdata
capital.Datadoesn’tsitstill;it
movesaround.Itgetsusedin
differentsystems,bydifferent
peoplebothinsideandoutside
theenterprise.
8. MIT TECHNOLOGY REVIEW CUSTOM + ORACLE8
Data Capital
and Enterprise
Architecture
The rise of data capital demands a
whole new enterprise-computing
architecture. Strengthening a single
tier of the IT stack, such as analytical
tools or data management, will just
create new bottlenecks someplace
else. The entire computing stack
must beef up. Simultaneously, the
advent of cloud computing, buoyed
by continuous price-performance
improvement in processing, memory,
storage, and bandwidth, has kicked off
a renaissance in enterprise-computing
capability.
Large enterprises are reinventing their
corporate computing environments as
a new set of services delivered by cloud
infrastructure. They buy some from
public-cloud vendors, while they build
others in corporate data centers that
have been converted to private clouds.
That new computing environment
figures into the data-capital equation
as well, says Brynjolfsson. “Computing
hardware used to be a capital asset,
while data was not thought of as an
asset in the same way,” he says. “Now,
hardware is becoming a service people
buy in real time, and the lasting asset
is the data. People are increasingly
thinking about their intellectual-
property issues, thinking about data
rather than computer servers.”
The hybrid cloud environment is the
basis for data-capital computing.
The reconfigured data management,
integration, analytics, and application
capabilities of data-capital computing
adhere to three critical principles: data
equality, liquidity, and security and
governance.
Data Equality
Data has a shape. For the past 40 years,
the most common shape has been the
rectangular table of the relational
database. Its familiar row-and-column
structure has been a powerful way to
capture selected observations about
the real world, with broad applicability
and economical use of computing
resources. But this reductionist
approach to creating data is now
being supplanted by an expansionist
approach. We don’t want just selected
observations of the world; we want the
whole thing.
Some of these observations still do lend
themselves to relational rectangles, but
their schemas (the columns for each
row) may be different, because they
capture the attributes of different kinds
of customers, products, processes, or
transactions. This increased variety
of carefully designed structures
expands the diversity of data capital.
In addition, the capture of more data
from more activities brings data in a
riot of new shapes into the stock of
data capital. Pictures, audio files,
sensor logs, geographic maps, network
relationships, and other kinds of
information all create data that doesn’t
lend itself to rows and columns.
Data equality means capturing and
keeping data in its original shape
and format. A new generation of data
management software—some of it
open-source, some from commercial
vendors—departs from the relational
model, more easily accommodating a
greater variety of data shapes.
“Softwareisbeingembedded
inmoreandmoreproducts,
fromautostotelevisionto
prescriptionmedications.
They’reallgeneratingdata.
Thatcreatesopportunitiesto
analyzedata,andthatdata
analysiscreatesvalue.”
– ErikBrynjolfsson,Director,MITInitiative
ontheDigitalEconomy
Data comes from activity. Digitize and datafy key value-creating activities before rivals do.
Data tends to make more data.Data-driven algorithms create data about their own
performance that can improve future performance, creating a virtuous circle.
Platforms tend to win.Digitization and datafication of more daily activities bring platform
competition to more real-economy industries.
1.
2.
3.
The Three Principles of Data Capital
9. MIT TECHNOLOGY REVIEW CUSTOM + ORACLE 9
For example, Hadoop, one of the most
popular open-source projects of the
past few years, isn’t a database at all.
It’s a file system, like the one that stores
documents and spreadsheets on your
laptop. As such, it doesn’t require the
design of a data model before storing
data. Instead, developers just pour in
files, images, or database extracts as
they are.
NoSQL databases, which get their
name from using “not only SQL” to
query data, are based on a decades-old
idea called a key-value store. Unlike
a relational database, which requires
each record to conform to a common
set of attributes, a NoSQL database
lets each record have its own set of
attributes. This is useful, for example,
when storing data from sensors in
aircraft: Each device detects a different
set of atmospheric conditions or
forces, but analyzing them together is
essential.
These approaches are complements,
not competitors. The future of data
management is one in which diverse
data lives in the systems that are best
suited to hold it long-term, and these
systems make the data available with
all of the security, reliability, and
scalability that enterprise computing
demands. Equally important, these
systems must cooperate so seamlessly
that analysts, data scientists, and
developers don’t need to know which
data lives where.
Data Liquidity
However, data equality creates new
problems. With a greater diversity
of data feeding a greater variety of
algorithms, analytics, and applications,
theneedtoconvertdatafromoneshape
to another skyrockets. The answer is
data liquidity—the ability to get the
data you want into the shape you need
with minimal time, cost, and risk.
The easiest way to see the value of
data liquidity is in data discovery,
where analysts combine imperfect,
irregularly shaped datasets into new
arrangements to obtain previously
unobtainable perspectives on the
relationships among customers,
products, and warranty claims, for
example. Because these mashups are
made without the laborious process
of building predetermined models,
they’re easily pushed aside when a new
question demands yet another new
combination.
But data liquidity doesn’t just mean
more flexibility for people. Algorithms
benefit, too. New in-memory database
technologies represent data in
both a row format for writing new
records quickly, and a column format
for fast analytical queries, done
simultaneously. Data-lab environments
with close ties to production servers
enable algorithms with new models
and tweaked weightings to go into
production in hours instead of weeks,
putting new ideas to work faster.
And moving extract-transform-and-
load (ETL) jobs from overburdened
warehouse environments to Hadoop
clusters makes it more cost-effective to
quickly convert data into new shapes.
Achieving these improvements in
isolation is good, but attaining them
as part of a coherent architecture is
better. Some of the workloads will be
well suited for public clouds, such as
machine-learning algorithms that
identify and classify people, places, and
things mentioned in forum posts.
Others, such as algorithms for one-
to-one marketing promotions based
on customer purchase history, are
better done behind the firewall. But
augmenting that algorithm with
external data requires a hybrid cloud
architecture that combines public
cloud capabilities with corporate data
centers reconfigured as private clouds.
Data Security and
Governance
The challenge of every chief data officer
is to maximize value creation from a
company’s data capital while ensuring
that its use complies with applicable
policies, regulations, and laws. Security,
and its constant partner, governance,
are necessary checks on data liquidity.
A data-centric approach to security still
incorporates traditional tactics such
as hardening the perimeter. But it also
recognizes the realities of data capital.
Data doesn’t sit still; it moves around.
It gets used in different systems, by
different people both inside and outside
the enterprise.
As a result, securing data-capital
computing means bringing new
technologies such as Hadoop
and Spark, as well as new cloud
environments, under supervision.
Established authorization, access,
auditing, and encryption—for data
both at rest and in motion through the
network—must extend to the entire
data-capital computing environment.
Meanwhile, during a time of ever-
stricter regulatory requirements, it’s
increasingly important for companies
to establish strong data-governance
policies. But for many companies,
that effort remains on the “to-do”
list: According to recent Rand Secure
Archive research, 44 percent of
organizations polled had no formal
data-governance policies; of those, 22
percent had no plans to implement
one. (For more on securely managing
and governing big data, see the Oracle
white paper “Securing the Big Data
Life Cycle.”)
Additionalabilitiestovisually
profile,transform,andexplore
databringthecostofaskinga
newquestionbelowthecost
offailingtodoso.
10. MIT TECHNOLOGY REVIEW CUSTOM + ORACLE10
New Capabilities
from Data-Capital
Computing
Data-capital computing, with its
hybrid-cloud architecture, proliferation
of new data management, integration,
and analytic services, and collaboration
between open-source and commercial
software, takes a lot of investment to
get right. But large organizations are
taking the plunge because of the new
capabilities the approach delivers.
• Data-driven tailoring. Machine-
learning algorithms that vary their
output based on new input can tailor
pricing, inventory management, and
fraud detection. But figuring out
what works under which conditions
and for how long requires plenty
of experimentation. Data-capital
computing makes these experiments
cost-effective to run and modify on
the fly.
• Internal data marketplaces. In
addition to canned analytics for known
questions, data capital-intensive
companies offer internal data markets
that satisfy spot demand for new data
products. Visual interfaces to Hadoop
data reservoirs help managers and data
scientists alike to browse for datasets in
the same way that they might shop at
any e-commerce site.
Additional abilities to visually profile,
transform, and explore data bring the
cost of asking a new question below the
cost of failing to do so.
• Datanudges. Embedded analytics in
applications encourage users toward
desired outcomes. These include
next-best actions for call-center reps,
recommendations on e-commerce Web
and mobile sites, and progress metrics
in mobile apps that encourage people
toward particular goals.
• Data services. Data can also be
treated as a service. Some companies
already create ways for applications
to grab data on demand for the tasks
they automate. These application
programming interfaces, or APIs, cut
the cost of using existing stocks of data
capital in new ways, increasing the
potential value of data.
Many companies collect data that they
can share with others, after scrubbing
proprietary and personally identifiable
information. Some of that data may
be helpful to their trading partners
or suppliers. Other data may prove
valuable to completely unrelated
entities.
Looking Ahead
Experts predict that data’s importance
will only continue to grow.
The Internet of Things (IoT) will
connect 6.4 billion devices worldwide
in 2016 and exceed 20 billion
intelligent, connected things by 2020,
according to Gartner Inc. These
devices are generating more and more
data, Brynjolfsson notes. “Software is
being embedded in more and more
products, from autos to television to
prescription medications,” he says.
“They’re all generating data. That
creates opportunities to analyze data,
and that data analysis creates value.”
But that’s creating new challenges,
as well. “Having data by itself is not
sufficient,” Brynjolfsson says. “If you
get the data and it just sits there, that’s
not going to help you. Or if you use
it in old-style decision-making, that’s
not going to help. You need to rethink
your business processes about how you
make decisions.”
Historically, managers relied on
“gut instinct” for decision-making
simply because they lacked the data
to do otherwise, says Brynjolfsson,
whose co-authored 2012 Harvard
Business Review article “Big Data: The
Management Revolution” explores the
issue in more depth. “Today, it’s more
scientific, and many managers are not
accustomed to making decisions this
way. It’s a whole new culture.”
In addition to sharpening the power
of human judgment, data capital
will extend the reach of algorithmic
decision-making. As managers
incorporate more data into their
thinking, more kinds of decisions will
reveal their inner logic. Choices once
thought to be strictly the domain of
human beings will become the province
of machines. This already happens with
marketing recommendations, delivery
truck routing, and credit approvals.
Areas that are still experimental
today, such as algorithmic analysis of
cancer-screening images, will become
routine tomorrow.
Characteristics of Enterprise Architecture
for Data Capital
Data Equality
Capturing and keeping data in its original shape and format
requires diverse data management technologies working
together seamlessly.
Data Liquidity
Get the data you want into the shape you need
for the task at hand with minimal time, cost, and risk.
Data Security and Governance
Authorization, access, encryption, and auditing—for data both at
rest and in motion—must extend to the full computing environment.
11. MIT TECHNOLOGY REVIEW CUSTOM + ORACLE 11
How to Start—and
How Oracle Can Help
Generating return from data capital
is not simply a matter of adding new
technology to the enterprise. It’s a
question of integrating that technology
withtheexistingenterprisearchitecture
to create sustainable competitive
advantage. Oracle’s comprehensive
portfolio of big-data solutions, built
on a hybrid cloud architecture, can
help drive the competitive strategy and
business value described in this paper.
One of the simplest ways to begin
experimenting with new value from
data is through cloud services. For
example, Oracle Data Cloud’s data-
as-a-service mixes data on more
than 200 million unique IDs from
Oracle’s BlueKai and Datalogix with a
company’s own customer data to create
unique ad-targeting or remarketing
campaigns. Oracle’s IoT Cloud Service
provides secure connections to any
data-generating device, analytics
for functions such as preventive
maintenance and asset tracking, and
integrationinto enterpriseapplications.
Other companies have begun exploring
the potential value of their own data
capital by using Oracle Big Data
Discovery running on the Oracle Big
Data Appliance with Cloudera Hadoop
to create internal data marketplaces.
That same Hadoop cluster can also play
host to Oracle R Advanced Analytics for
Hadoop, a version of the popular open-
source statistical package modified
to take advantage of enterprise-scale
computing resources.
Companies that have proven the
value of data discovery and mash-up
environments want to run big-data
workloads with the same service-
level agreements, security, and
disaster recovery as the rest of the
enterprise environments. They
look for enterprise-grade big-data
management, such as connecting the
Oracle Big Data Appliance to Oracle
Exadata running Oracle Database 12c.
Pre-built connectors and Oracle Big
Data SQL make the two environments
work together as one unified, high-
performance system so that managers
and data scientists alike can use the
data they care about without having to
know which system it’s in.
Big-data integration technologies such
as Oracle GoldenGate for Big Data
make it easier and faster to expand the
stock of data capital in the big-data
management system. And tools such
as Oracle Data Integrator for Big Data
speed up and simplify the process of
reshaping diverse data for a variety of
endpoint algorithms, analytics, and
applications.
Bottom line: If you demand to
know the full value of your data
capital before investing in it, you’ll
find some of that value fading away.
Sowhetheryou’rejustbeginningtobring
these technologies into the business
or looking to make them business
as usual, don’t hesitate to take the
next step.