Join our #DataTalk on Thursdays at 5 p.m. ET. This week, we tweeted with Sushil Pramanick – who is the founder and president of the The Big Data Institute (TBDI). You can learn about upcoming chats and see the archive of past big data tweetchats here http://www.experian.com/blogs/news/about/datadriven

1. #DataTalkTrends in Big Data & Challenges
LIVE TWEETCHAT

2. Join our #DataTalk on Thursdays at 5 p.m. ET
We recently tweeted with Sushil Pramanick, the founder and
president of The Big Data Institute.
Check out all tweets from this Twitter chat:
ex.pn/data-trends

3. Has your definition of big data
changed over the years?

4. Sushil Pramanick
Founder, The Big Data Institute
@BigDataSpeaker
Technology has evolved rapidly and will
continue. Businesses will need to use it as an
enabler to a new and changing business model.
#DataTalk
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5. Sushil Pramanick
Founder, The Big Data Institute
@BigDataSpeaker
Big data analytics will join forces with AI and
impact our daily lives for better with smarter,
self-learning and AI devices.
#DataTalk
ex.pn/datatalk

6. What challenges do businesses
face when it comes to big data?

7. Sushil Pramanick
Founder, The Big Data Institute
@BigDataSpeaker
Identifying right skills and most important
where to look for that golden nugget.
#DataTalk
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8. Sushil Pramanick
Founder, The Big Data Institute
@BigDataSpeaker
Finding the right data, right time and
right skill and partner.
#DataTalk
ex.pn/datatalk

9. Sushil Pramanick
Founder, The Big Data Institute
@BigDataSpeaker
UseCase identification with measurable
business outcomes driving innovative products,
solutions, services, and business models.
#DataTalk
ex.pn/datatalk

10. What steps can companies take to
overcome big data challenges?

11. Engage business early and have
business led analytics projects that can
be tied to business outcome.
ex.pn/datatalk
#DataTalk
Sushil Pramanick
Founder, The Big Data Institute
@BigDataSpeaker

12. Analytics has to be a business led
or driven initiative and NOT a technology
adventure or a side project.
ex.pn/datatalk
#DataTalk
Sushil Pramanick
Founder, The Big Data Institute
@BigDataSpeaker

13. Build skills in-house by leveraging
internal domain expertise.
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#DataTalk
Sushil Pramanick
Founder, The Big Data Institute
@BigDataSpeaker

14. Retool existing resources and
build high performing team in house.
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#DataTalk
Sushil Pramanick
Founder, The Big Data Institute
@BigDataSpeaker

15. Companies are lost in collecting
data and storing data instead
of analyzing data.
ex.pn/datatalk
#DataTalk
Sushil Pramanick
Founder, The Big Data Institute
@BigDataSpeaker

16. Spend 80% analyzing data instead
of 20% analyzing (flip the 80:20 rule).
ex.pn/datatalk
#DataTalk
Sushil Pramanick
Founder, The Big Data Institute
@BigDataSpeaker

17. As big data gets bigger, how should
businesses plan for the future?

18. Sushil Pramanick
Founder, The Big Data Institute
@BigDataSpeaker
ex.pn/datatalk
#DataTalk
The definition of ‘future’ varies
by industry and is shortening with
fast evolution of technology.

19. Sushil Pramanick
Founder, The Big Data Institute
@BigDataSpeaker
ex.pn/datatalk
#DataTalk
Technology is getting outdated
in 2 years unlike over a span of
10 years about a decade back.

20. Sushil Pramanick
Founder, The Big Data Institute
@BigDataSpeaker
ex.pn/datatalk
#DataTalk
Businesses need to plan according
to specific industry needs and
technology will enable it.

21. Sushil Pramanick
Founder, The Big Data Institute
@BigDataSpeaker
ex.pn/datatalk
#DataTalk
Be an innovator or the first
is the key to being a leader.

22. Sushil Pramanick
Founder, The Big Data Institute
@BigDataSpeaker
ex.pn/datatalk
#DataTalk
More and more data will be produced.
90% of world data is produced in
last 2 years. Finding insight is key.

23. What does a business need to
get right about big data?

24. Sushil Pramanick
Founder, The Big Data Institute
@BigDataSpeaker
ex.pn/datatalk
#DataTalk
Many organizations focus more
on collecting and storing data
rather than analyzing data.

25. Mike Gross
@MyGrossLife
ex.pn/datatalk
#DataTalk
Garbage-in, garbage out.
Data quality is imperative to
maximize big data value.

26. #DataTalk
ex.pn/datatalk
Sushil Pramanick
Founder, The Big Data Institute
@BigDataSpeaker
Organizations need to engage
right skills and consulting help
instead of leveraging
only internal knowledge.

27. #DataTalk
ex.pn/datatalk
Sushil Pramanick
Founder, The Big Data Institute
@BigDataSpeaker
Focusing on data quality to the
nth degree to get 100% accuracy
is not a valid approach as it
is a diminishing return.

28. How has big data changed the way
that a consumer-facing
organization does business?

29. #DataTalk
ex.pn/datatalk
Sushil Pramanick
Founder, The Big Data Institute
@BigDataSpeaker
Today with Cloud, infrastructure
set up is reduced to days
from weeks and months.

30. #DataTalk
ex.pn/datatalk
Sushil Pramanick
Founder, The Big Data Institute
@BigDataSpeaker
The big data analytics has made
possible for consumer facing
organization to provide personalized
services and products.

31. #DataTalk
ex.pn/datatalk
Sushil Pramanick
Founder, The Big Data Institute
@BigDataSpeaker
Every customer or consumer
can get unique treatment from
healthcare, medicine/drugs to
personalized services.

32. #DataTalk
ex.pn/datatalk
Sushil Pramanick
Founder, The Big Data Institute
@BigDataSpeaker
The marketing campaigns has
become targeted based on individual
consumer profile, social behavior
and prior experience.

33. What big data trends are you
noticing right now?

34. #DataTalk
ex.pn/datatalk
Sushil Pramanick
Founder, The Big Data Institute
@BigDataSpeaker
Internet of Things is the immediate
one with connected devices,
connected cars, wearable gadgets,
smart sensors, and so on.

35. #DataTalk
ex.pn/datatalk
Sushil Pramanick
Founder, The Big Data Institute
@BigDataSpeaker
How we buy things, what we watch,
what we eat and drive,
how we sleep will all get impacted
by personalized products.

36. What can companies do to take
advantage of any of those trends?

37. #DataTalk
Sushil Pramanick
Founder, The Big Data Institute
@BigDataSpeaker
ex.pn/datatalk
Data is the new oil!
Leverage data to predict future.
Raise your analytics maturity
to predictive to prescriptive.

38. #DataTalk
Sushil Pramanick
Founder, The Big Data Institute
@BigDataSpeaker
ex.pn/datatalk
Mission measurement, changing
the way organizations invest in
philanthropic causes to forecast
social impact program outcome.

39. Any final tips for businesses
working in big data and analytics?

40. #DataTalk
ex.pn/datatalk
Sushil Pramanick
Founder, The Big Data Institute
@BigDataSpeaker
Don’t wait for others to make the
leap till it becomes too late for you.
Crawl, Walk and Run.

41. #DataTalk
ex.pn/datatalk
Sushil Pramanick
Founder, The Big Data Institute
@BigDataSpeaker
Big or small, you need to
board the ship! Fortune 500 firms
in 1955 vs 2014; 89% are gone.

42. Join our #DataTalk on Twitter
on Thursdays at 5 p.m. ET.
experian.com/datatalk