Part A :Big Data

Presenting PPT on “Big Data Analytics: An expert

interview with Bipin Chadha”

Submitted by:
Abhishek Kumar X001
Faiz Ahmad X007
Naresh Kumar X014
Sachin Deo Kumar X021
Big Data Set: A brief Introduction

• Definition:
• Hard to filter or compress down to a size where it can be
meaningfully analyzed with the resources and tools available.

• Typical features that make a dataset hard to analyze are

-size
-complexity
-heterogeneity
-structure
-ratio of the rate of data arrival to decision time, and
-noise.
Big Data Analytics:

• It is the strategic enabler that turns Big Data into meaningful

decisions and actions.

• It refers to the tools and methods which helps in understanding the

customers, their need and develop course of action.

• Improves performance and compete against competitors.

• Ultimately, Value for customer as well as firm is created.

Why “big data” is “really a big deal” for businesses?

• Big Data is Critical for decision making.

• Modern businesses are taking data driven decisions and algorithm.

• Big data analytics helps in identifying and predicting specific

customer needs.

• Key enabler for Business Intelligence.

• Business value from Big-Data.

Relationship Between Business Intelligence & Big Data:

(A).
(C) .Take
Understand (B). Take Data
Smarter
your business from “Big
Business
and Data” Source
Decisions(BI)
environment
Business Value from Big Data:

Large Member Base(Stakeholders)

(Interact through various channels)

Big Data Generated

(Big Data Analytics: Individualised advice and services)

Business Value Created

(Increasing Efficiency and Reducing waste effort)
Business Value from Big Data(Standard Model):
How Data Driven Decision Taken at USAA?

• USAA’s mission is synchronised with using Data Driven

Decisions & Strategy
• Top boss promotes taking Data Driven Decisions.
• Data Driven Decision taken at Operational as well as
Strategic Level
• Data Driven Experiment-To understand their customer and
needs
• Information related to security and privacy of customers are
top priority in the company
How CMO, CFO & CDO work-together as a partner
and how it impacts the organizational performance
and culture at USSA?
• It’s a natural outcome of systematic approach and member focus.

• Optimum efficiency only be reach when Marketing Head, Fiancé

Head and data Scientist work together.

• Great Marketing job, Right person(Customer), right price altogether

can only do wonders. (i.e. Without pricing, marketing target can’t be
achieved).

• All individual efforts are to be synchronised to perform as a team.

• Provide value to the customers
Major Risks and Challenges with Big Data:
(Particularly to individual rights, privacy, identity, and security)

- Collection of data poses significant risks and challenges

in terms of ethics, privacy, and security.

- Right now people are too cavalier about posting their

data all over the Internet.

- The challenge right now is to make sure that

organizations do not misuse this data and try to foresee
and prevent abuses of data.
Major trends and advances in the area of Big
Data and Big Data Analytics:
• We are still in early stage of Big Data Analytics and AI.
• Focus on shifting from Big data to Big Science.
• AI will seep into many devices that we use today without AI.
• Increased automation will eases the life.
• There will be issue on Big Data because of its exponential growth of
data.
• People will demand transparency.
• Criminals, Hackers, Fraudsters will continue exploiting the technology
for their personal gain.
• Based on Bid Data Analytics and AI, predicting the future will not be
always true.
PART B: Internet of Things (IOTs)

Contents are based on the article “ The Internet of Things: Mapping The
Values Beyond the Hype: by McKinsey Global Institute”
Internet of Things :A brief Introduction

• Sensors and actuators connected by networks to computing system

• These systems can monitor or manage the health and actions of

connected objects and machines.

• Connected sensors can monitor the natural world, people and

animals.

• Ability to monitor manage objects in the physical world electronically

• IoTs can create real economic values captured by companies, people

and economies.
Potential Areas of IoTs (for Value Creation):
1. Interoperability
2. Data Analysis
3. B2B application
4. Economic based potential market

Source: Based on the research by Mckinsey.

Physical Settings and types of Opportunities of IoTs:

Settings:-
• Vehicles
• Homes
• Offices
• Factories
• Retail Environment
• Websites
• Human
• Outside
• Cities Figures in red with $ sign is expected economic impact in 2025 against each setting)
Key Findings of the McKinsey Research:

• Interoperability among IoT systems is required to capture 40 percent

of potential values
• Most of the data collected today are not used at all, and data that are
used are not fully exploited
• The amount of IoT value that can be realized in developing
economies is comparable to that of advanced companies
• B2B applications of IoT have greater economic potential than
consumer applications
• Users of IoT technologies will capture most of the potential value
over time
• IoT will change the bases of competition and drive new business
models for user and supplier companies
Estimated potential impact of IoT applications in
2025

• Research area was more focused on wide range of application types

including operations, sales enablement, product development, safety
and security.

• Economic impact could be from $3.9 trillion to $11.1 trillion per year
in 2025(These figures are based on 6 settings, actual figures may
vary).

• Factories settings would have greatest potential economic impact

from IoT use $3.7 trillion per year in 2025 followed by Cities settings
of $1.7 trillion per year in 2025.
Advantages and Disadvantages of IoTs:
Advantages:
• Perfect for Data-driven decision making organisation or people
• Optimise the performance of systems and processes
• Save time for people and businesses
• Reduce Costs
• Create Innovative Services
• New Revenue Stream
• Enhance communications
• Improve quality of life
• Other values captured by customers and consumers

Disadvantages:
• Data Loss threat
• If err-algorithm used, results can be reversed.
Enablers and Barriers of IoTs:

(A) Enablers:
-Technology Development, Execution and R&D.
-Consumers need to trust IoTs based system
-Data-Driven approach by companies
-Public Policy (i.e. Self-Driving car in India)
-Interoperability
-Organization and Talent

(B) Barriers:
-Data-Security
-Privacy and Confidentiality
-Intellectual Property(There may be conflict among ownership of data generated by IoTs system, especially from a group
of IoTs appliances being used at one platform)
Common examples of IoTs:
• Self-driving cars
• Fitness bands to monitor physical activity
• Internet connected devices
• Manufacturing, Oil and Gas company Work Sites
• Smart-Cities
• Smart-Watch
• Smart Gazettes etc.
One Typical Example of IoTs in an Opencast Mines:
Thanks