bigdatabook-tenthings

8/11/2019 BigDataBook-TenThings

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In our o ces, Big Data by ViktorMayer-Schonberger and KennethCukier has been a big hit.

Here are ten things aboutBig Data we think everyoneshould know. Enjoy!

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Ten things you should

know about big data.


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Just as lumber, co on and steel fueled economic transforma on, data is a rawmaterial of business. But data does not expire a er a single use, it can provide

answers to mul ple ques ons. The digital world con nually grows and BigData marks a paradigm shi for businesses.

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> TEN THINGS YOU SHOULD KNOW ABOUT BIG DATA.

1 | NOW


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In the world of big data, more is de nitely be er. Forget about randomsampling of customers using only some informa on, and instead capture datafrom everyone and it becomes easy to see trends and anomalies. O en, theanomalies communicate the most valuable informa on, but they are only

visible with all of the data n = all.

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2 | MORE


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Just like children are simultaneously messy and amazing, so too is big data.Its unreasonable to believe all informa on ts into dy rows and columns

and thats okay. Think about tagging photos online, the tags are irregular andinclude misspellings. But, the volume of tags allows us to search images invarious ways and combine terms that would not be possible in precise

systems. So, instead of elimina ng inexac tude in our data,we can calculate with messiness in mind.

Big data, like parenthood, requires that we become comfortable in chaos.

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3 | MESSY


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Correla on is not causa on.Knowing the elusive cause of increased sales is a luxury but not a necessity torecreate the environment which furthered sales. Correla ons are iden ed

more quickly and cheaply than root causes, and Big Data tells us what variables best predict if a customer will make a purchase.With this, businesses can increase or decrease variables to maximize output

and sales. In Big Data, we become less concerned with the cause,which is o en uncontrollable, and focus on the best correla ons

that predict a business phenomenon.

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4 | CORRELATION


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First the world was quan ed with mathema cs,then it was digi zed with computer readable informa on,

now it is being data ed by organizing it for index-ability and search-abilty.This is the di erence between a PDF that is a scanned image of a le er, versusa PDF that was exported from a word processing program. The exported

(data ed) version has text that can be highlighted, copied and found. Beyondthis simple human interac on, computer programs can be created to index

and crawl the text data for larger computa on and modeling.

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5 | DATAFICATION


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The value in big data lies in its use and reuse.

Just like the futuris c electronic paper (pictured), data is at its best when beingused. And, the poten al for further applica on is where the return on datareally increases. O en, value is unleashed when very di erent datasets are

combined to collec vely answer big ques ons.With big data, the answer is more valuable than the sum of the data.

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6 | VALUE


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So what does this mean for business today?

There is a new value chain of big data, beginning with you, the data holders .Those that hold and own data rely on data specialists , the scien sts and

mathema cians, to unleash the value. Permea ng across these groups andbeyond are those with the data mindset , who see opportunity and poten al in

big data and can ar culate the big ques ons.

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7 | IMPLICATIONS


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As with all things, there is risk in big data.If informa on is power, then insights based on data from everywhere that

predicts future behavior is the type of power found irresis ble by archetypalvillains (think Matrix). So lets be clear, predic ve analy cs is based on numbersand how we interpret them. Results can be biased, numbers misleading and

algorithms mis-analyzed. Understanding this and the inherent limita ons of bigdata are crucial to mi ga ng risks.

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8 | RISKS


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We believe data should live long and prosper.With that in mind, and remembering big datas value lies in its use and

reuse, the current protocol of consent at me of data collec on is insu cient.

Considering data should be used mul ple mes, responsibility needs to shi tothe data users. Those of us that use the data need to do so for the be erment

of society and not to its detriment. The big data industry should learn fromother professions that have experienced similar explosions in adop on rates,

launching the need for exper se and industry-wide control.

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9 | CONTROL


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Business intelligence, which tradi onally includes understanding historicaltrends and analysis, is shi ing to an ability to predict the future.

This paradigm shi will force us all to reconsider what we know, what webelieve, and how we behave. The poten al for good in big data is immense,

varying from transporta on and healthcare to business and consumerproducts. It is now me for our informa on society to live up to the name

and leave a big data legacy to the next genera on.

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10 | NEXT


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Now youre aware of ten majortrends related to Big Data.

Data Realtys data centers aredesigned in collabora on withworld-class data scien sts speci callyfor the analysis of big data.

For more details and to connect,tweet or follow the team, visitData Realty online at data-realty.com .

Where data lives.

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