Transcript
Page 1: BIG DATA The next frontier for emerging market

BIG DATAThe next frontier for emerging market

USC CSSE Annual Research ReviewMarch 14, 2013

Rachchabhorn WongsarojBank of Thailand, Visiting Scholar @ USC

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Outline Current situation What is big data? Why big data is important? Big data cases Research challenges Big data in Thailand Future research

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Current Situation

Data Quantity

Data Quality Data Variety

Data Timeliness

Lots of data is being created & collected

Global data

Problems

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Big Data = Volume, Variety and Velocity

Volume

People to People People to

Machine

Machine to Machine

Variety

Velocity

What is big data?

8 Billion messages/day845M active users

340Million Tweets/day140M active users

20 Hours of video uploaded every minute

Source: Gartner & IBM

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Emerging Technologies Hype Cycle 2011 (Gartner)

Why big data is important?

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Why big data is important?Emerging Technologies Hype Cycle 2012 (Gartner)

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Source: McKinsey Global Institute Analysis

Why big data is important?

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Why big data is important?Big data can generate significant financial value across sectors

US Health Care

$300 billion value/year ̴� 0.7 % annual

productivity growth

Europe Public Sector Administration

£250 billion value/year ̴�0.5 % annual productivity growth

Global Personal Location Data$100 billion +revenue for service providerUp to $700 billion value to end users

US Retail60+% increase in net margin possible0.5-1.0 % annual productivity growth

ManufacturingUp to 50% decrease in product developmentUp to 7% reduction in working capital

Source: McKinsey Global Institute Analysis

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R&D Business Model PublicClininal Account

$165BClinical

$47BAccount

Health Care sector has potential to invest $300B

Source: US Department of Labor

Business Model aggregation of patient records, online platform and communities

2% $5B

Public health surveillance and response systems

3% $9B

Accounts advanced fraud detection: performance based drug pricing

14% $47B R&D personalized medicine, clinical trial design

32% $108B

Clinical transparency in clinical data and clinical decision support

49% $165B

Why big data is important?

$108BR&D

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Cases Data sources / Techniques OutputGoogle patient search data, Predictive Model, etc.

Hospitalization pattern,Customized insurance

Advanced analytic solutions Process time reduction

Customer transactions Customer defection prediction

Trading transactions & IP address Possible Frauds, Financial Bubble, Money Laundering

Real time people & location data Crime and terrorist prevention

Product search pattern,social media

Website outage/peak time support, Travel trend and pattern

Big data cases

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Function Big data retail leverMarketing Cross-selling

Location based marketing In-store behavior analysis Customer micro-segmentation Sentiment analysis Enhancing the multichannel consumer experience

Merchandising Assortment optimization Pricing optimization Placement and design optimization

Operations Performance transparency Labor inputs optimization

Supply Chain Inventory management Distribution and logistic optimization Informing supplier negotiations

New Business Model Price comparison services Web-based markets

Source: McKinsey Global Institute Analysis

Research Challenges

Customer micro-segmentationSentiment analysis

Performance transparencyLabor inputs optimization

Price comparison services

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Language Cost of implementation Magnitude of data Demographic data generator Data type

Challenges

Big data in Thailand

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Big data in ThailandLanguage (natural language processing)

no space between words Combination between Thai –Foreign languages Lack of Thai text analytic components

Example

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Big data in ThailandCost of implementation

13 Big data vendors in 2013 Hadoop :

Requires: ~$1 million between 125 and 250 nodes Distribution: Annual costs: ~$4,000 per node-> A small fraction of an enterprise data warehouse $10-$100s of millions.

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44% 31%

14% 9%

Big data in Thailand

Overseas Bandwidth 405,860 Mbps

Local Bandwidth (.th, or.th, etc)

1,006,140 Mbps

Magnitude of data As of September 2012

25% use smart phone8% use tablet

60% use Local Bandwidth

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Big data in ThailandDemographic data generator

39% of population use Internet85.9% of data is created by Internet

users age 6-24

Population65M

Internet users25M

Most data are from young generations

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Only 2.12% focus on Education

Source: http://www.prd.go.th/ewt_news.php?nid=23168

Big data in ThailandTypes of data – limited Big data technique application

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Bank of Thailand (BOT)Website – As is

Financial institution

BOT data (Internet/Extranet)

DB 1 DB 2 DB3

Manual Checking

Template Input

Manual Submit

BTWS Working

BOT Website

Auto Submit

Source: Bank of Thailand

Problems Too many steps Once due - act first, fix later Too many stakeholders Bureaucracy management style

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BOT data website – As is

Source: Bank of Thailand

InputData

ComplexValidation

CrossValidation

Manual Check

QueryData (BO)

InputTemplate

Manual Submit

Website

Approve

Manual CheckingTimeliness

Revision Policy

Accuracy & Reliability

Volume

Variety

Velocity

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Future research Data quality management

Tools Template Checklist Process

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Reference Big Data: The next frontier for innovation, competition, and

productivity, McKinsey Global Institute Analysis Understanding Big Data: Analytic for Enterprise Class Haddop

and Streaming Data, IBM Gartner Report Thailand National Statistic Office Thailand Digital Statistic Source Bank of Thailand (www.bot.or.th)

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BIG DATA The next frontier for emerging market

Rachchabhorn WongsarojBank of Thailand

Visiting Scholar @ USC

Thank you Q & A


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