A brief description of what big data is and what the challenges are for the future

1. WHAT IS
BIG DATA?

3. Everyone is talking about “big data”

4. The amount of data in our world is exploding
Companies capture trillions of bytes of
information about their customers, suppliers and
operations

5. There are millions of networked sensors embedded in the
physical world
Sensing, creating and communicating data in the age of the
internet of things

6. Multimedia and individuals with smartphones and
social network sites will continue to fuel
exponential growth

7. SO WHAT IS
BIG DATA?!

8. DEFINITION
“Large pools of data that can be
captured, communicated, aggregated,
stored and analyzed” McKinsey Global Institute
“A collection of data from traditional
and digital sources inside and outside
your company that represents a
source for ongoing discovery and
analysis” What is Big Data, Lisa Arthur, Forbes

9. DIGITAL AND
TRADITIONAL
Some people like to constrain big data to digital inputs like web
behavior and social network interactions; however we can’t
exclude traditional data derived from product transaction
information, financial records and interaction channels, such as
the call center and point-of-sale. All of that is big data, too, even
though it may be dwarfed by the volume of digital data that’s
now growing at an exponential rate.

10. CHARACTERISTICS
Big data enables organizations to store, manage, and
manipulate vast amounts of disparate data at the right speed
and at the right time. To gain the right insights, big data is
typically broken down by three characteristics:
Volume: How much data
Velocity: How fast data is processed
Variety: The various types of data

11. MEASURES OF BIG
DATA
•
1 Bit = Binary Digit
•
8 Bits = 1 Byte
•
1000 Bytes = 1 Kilobyte
•
1000 Kilobytes = 1 Megabyte
•
1000 Megabytes = 1 Gigabyte
•
1000 Gigabytes = 1 Terabyte
•
1000 Terabytes = 1 Petabyte
•
1000 Petabytes = 1 Exabyte
•
1000 Exabytes = 1 Zettabyte
•
1000 Zettabytes = 1 Yottabyte
•
1000 Yottabytes = 1 Brontobyte
•
1000 Brontobytes = 1 Geopbyte

12. Big data is now part of every sector and function of the
global economy
It is increasingly the case that much of modern economic
activity, innovation and growth simply couldn’t take place
without data

13. THE QUESTION
What does this phenomenon mean?
Is the proliferation of data simply
evidence of an increasingly
intrusive world?
Or can big data play a useful
economic role?

14. DIGIATL DATA IS EVERYWHERE
In every sector, in every economy, in every organization and user of digital technology
Before à only for data geeks and nerds
Now à relevant for leaders across every sector and consumers of products and services stand to benefit from it’s
application

15. Ability to store, aggregate and combine data and then use
the results to perform deep analysis has become even more
accessible
Digital storage and cloud
computing cost less
Software applies more
sophisticated techniques
to extract insights
Ability to generate, communicate, share and access
data has been revolutionized by the increasing number
of people, devices and sensors that are now connected
by digital networks

16. HOW DOES BIG DATA
CREATE VALUE?
• Creates transparency
• Enables experimentation to discover needs, expose
variability and improve performance
• Segmenting populations to customize actions
• Replacing/supporting human decision making with
automated algorithms
• Innovating new business models, products and services

17. THE CHALLENGE
There is a shortage of the analytical and managerial
talent necessary to make the most of big data
The right infrastructure must be in place
The benefits are still poorly understood
Privacy issues

18. This is a story that will continue to evolve as
technologies and techniques using big data
develop and data, their uses and their economic
benefits, grow