BIG DATA
The Management Revolution
Big Data Solves a Big Problem “You can’t manage what you don’t measure.” Explosion of digital data is so important.
The Amazon Story When people began buying books online, it became possible to track what other products they looked at and how much they were influenced by promotions.
Big Data Industry Transformation
The Opportunity for Competitive Advantage
Data-driven decisions increase productivity and profitability.
What’s Different About Big Data? But big data has three distinct characteristics
VOLUME
VELOCITY
VARIETY
What’s Different About Big Data? Volume With big data, companies have a lot more information to work with and a lot more to handle.
Massive data sets
What’s Different About Big Data? Velocity By gathering information in real time, a company can be much more agile than its competitors
What’s Different About Big Data? Variety Unlike information generated from traditional systems, much of the data is unstructured and unwieldy to store and process.
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Big Data Challenges LEADERSHIP TALENT MANAGEMENT TECHNOLOGY DECISION MAKING COMPANY CULTURE
5 Big Data Challenges
1
Leadership Set clear goals and decide what success looks like.
55Big Data Challenges Big Data Challenges
2
Talent Management You need data scientists and domain experts.
55Big Data Challenges Big Data Challenges
3
Technology Develop new skills in IT.
55Big Data Challenges Big Data Challenges
4
Decision Making Base decisions on evidence.
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Company Culture Don’t ask “what do we think?”
Ask “what do we know?”
The Payoff Smarter Predictions Smarter decisions Smarter Interventions
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