BAFBAN1: Fundamentals of Business Analytics

Week 12

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BAFBAN1: Fundamentals of Business Analytics
Big Data

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Big Data

Definition: datasets that grow so large that they become awkward

to work with using on-hand database management tools

Challenge: capturing, storing, searching, sharing, analyzing, and

visualizing.

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Big Data - Characteristics
Volume
–large amount of data we are getting from many sources as the world becomes
more and more instrumented

Variety
–data we receive can be structured, semi-structured, or unstructured

Velocity
–we are being bombarded with these data at huge speeds, all the time, any
time

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Big Data - Characteristics - Volume

2.5 quintillion (or 2.5 million trillion) bytes of data are created each day
90% of the world data was created in last two years alone.

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Big Data - Characteristics - Variety

80% of the world’s data is unstructured

It may be data we’ve collected before, but they could not be processed

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Big Data - Characteristics - Velocity

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Big Data - Business Challenges
How to use data to learn about customers

Tasks to learn about this data

Know where to look for the data

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Big Data - Business Challenges
How to use data to learn about customers
•What data they have related to the customer
–database (structured)
–flat files, data in documents like word, web blogs, comments from web sites
(unstructured)

•What the data says about customers

–“hidden information”
–sentiment
–buying trend

•Where the data about the customers are

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Big Data - Business Challenges
Tasks to learn about this data

•Identify the data

•Locate data sources

•Load the Data

•Convert into Useable Format

•Analyze the Data

•Convert the Data Into Useable Knowledge

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Big Data - Business Challenges
Know where to look for the data
•Warehouse data about purchase history of a customer structured
•Site browsing history of the customer structured
•Comments on Websites unstructured
•Customer surveys semi-structured

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Big Data – Business Motivation

Launch customized advertising campaigns

Gather data from different sources to get the complete picture

Integrate data into meaningful records

Use this information to provide rich and useable results

To use data for on going analytic queries

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Big Data - Technical Challenges

Integrate from various sources

Not compromise existing data structures and infrastructure

Locate appropriate data

Get data into a useable format

Analyze petabytes of data

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Big Data - Technical Challenges
Integrate from various sources

•Different Data Source Platforms

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Big Data - Technical Challenges
Integrate from various sources

•Structured Data Sources

•Semi Structured Data Sources

•Unstructured Data Sources

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Big Data - Technical Challenges
Locate appropriate data

•Where is the data?

–Relational Databases
–Flat files
–Web Sites, Web Logs
–Written Notes

•How does the data look like?

–Structured
–Semi Structured
–Unstructured

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Big Data - Technical Challenges
Get data into a useable format

•Understand the data you are dealing with

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Big Data - Technical Challenges
Analyze petabytes of data
•The amount of data that may need to be analyzed will be in petabytes

1 kilobytes is approx. 1,000 bytes

1 megabytes is approx. 1,000,000 bytes

1 gigabytes is approx. 1,000,000,000 bytes

1 terabytes is approx. 1,000,000,000,000 bytes

1 petabytes is approx. 1,000,000,000,000,000 bytes

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Big Data – Sample Solutions

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Big Data – Sample Solutions
analyze the 12B TB of tweets being
created each day to figure out what
people are saying about your products

figure out who the key influencers are

within your target demographics
mine this data to identify new market
opportunities
volume variety

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Big Data – Sample Solutions
hospitals could take the thousands of
sensor readings collected every hour
per patients in ICUs

identify subtle indications that the

patient is becoming unwell, days
earlier that is allowed by traditional
techniques

variety volume

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Big Data – Sample Solutions
make risk decisions, such as whether
or not someone qualifies for a
mortgage, in minutes, by analyzing
many sources of data, including real-
time transactional data, while the
client is still on the phone or in the
office

volume velocity

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Big Data – Sample Solutions
law enforcement agencies could
analyze audio and video feeds in real-
time without human intervention to
identify suspicious activity

variety velocity

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Big Data – Sample Solutions
a green energy company could use
petabytes of weather data along with
massive volumes of operational data
to optimize asset location and
utilization, making these
environmentally friends energy
sources more cost competitive with
traditional sources

volume variety

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Big Data and Analytics
WATSON competed in JEOPARDY in 2011

200 million pages of text is loaded in memory using Big Data technology (i.e., IBM BigInsight)

Analytics is used to process the loaded data.

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Sources
IBM Academic Initiative (ibm.com/academicinitiative)
•(BD001) Hadoop Fundamentals
•(DW640) InfoSphere BigInsights Analytics for Business Analysts

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