Overview of big data
What big data is, its important features, the problem(s) it solves, and how it works
Potential business applications for big data
Risks, challenges, and potential unintended consequences associated with big data
“Every time we perform a search, tweet, send an email, post a blog,
comment on one, use a cell phone, shop online, update our profile on
social networking site, use a credit card, or even got to the gym, we leave
behind a mountain of data, a digital footprint, that provides a treasure
trove of information about our lifestyle, financial activities, health habits,
social interactions, and much more.” - Frank Moss
Data
● 90% of the world’s data has been created in the past 2 years
● Every two days we create as much information as we did from the dawn of
civilization up until 2003
● 3.8 billion Internet users
Big Data (What)
Large volumes of structured and unstructured
data sets created by human interaction and
behavior.
The data sets are too large, created too fast
and too complex to process using traditional
data processing methods
, Big Data (How)
This data is collected, organized and analyzed using algorithms to find insights on
human behavior and interactions through patterns, trends, and associations.
Big Data (Why)
Combined with the proper analytic tools, Big Data can be used to find insights and
opportunities that help organizations make better decisions and gain a competitive
edge.
Take all the data that you create to understand you better.
- Why do you do what you do
- Purchasing
- Communication
- Movement
● Better decision making
● Understand the customer
● Reduce risk and fraud
● Deliver relevant products and services
● Improve the customer experience
● Improves efficiencies
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