MGI Big Data : The next frontier for innovation, competition, and productivity 2011-09-19 Jimin Lee
[email protected]
2/19
Outline • • • • • •
What is Big Data? Why Big Data is important? Examples and value evaluation Big Data techniques and technologies What should we prepare for Big Data era? Conclusion
3/19
What is Big Data? • Definition – Datasets whose size is beyond the ability of typical database software to store, manage, and analyze
• Recently, various economic journal and consulting group have significantly reported and analyzed Big Data – Economist (2010.05) – Gartner (201103) 4/19
What is Big Data? • Companies are tracking and collecting the customer data • Multimedia contents and usage of contents are increasing • Social media is producing a tremendous amount of new data
5/19
Why Big Data is important? • We are already living in zettabytes world! – In 2009, 800 exabytes (0.8 zettabytes) – In 2010, 1.2 zettabytes
• Data is being produced now!
6/19
Why Big Data is important? • The growth of big data is a phenomenon that we have observed in every sector
7/19
Why Big Data is important? • Big Data is essential resource of mobile smart innovation
Input
Industry Revolution
IT Revolution
Iron, Coal
Internet
Mobile Smart Innovation Big Data
Usefulness
output
Customer analysis, market demand prediction
Innovation
Cost cut, different product
Competition
Industry-wide increasing productivity
Productivity 8/19
Innovation • O2 provides Starbucks promotion for mobile customer by analyzing Big Data with ‘SNS + LBS’ • Facebook Immediately provides target customer with advertiser – CM Photographic co.
SNS : Social Network Service LBS : Location Based Service
Competition • public access to analysis and transparency of management of organization – Big Data analysis is open to external partners – The sophistication of data analysis and real-time data processing – Collaborative management of organization's competitiveness by improving transparency
• Walmart – Retail Link • Real-time analysis of inventory 10/19
Productivity • Health care – The estimated long-term value of Direct/unclear impact is more than $300 billion
Potential advantage of industry sector
12/19
Demand of analytical talent • Supply and demand gap for three types of Big Data talent in 2018 – Additionally 140,000~190,000 relevant people are needed
13/19
Summary of section
14/19
Techniques and Technologies • Cloud Computing – Fast and flexibility, and provide economies of scale – Approximately 35% of data in the cloud or go through the cloud – Cloud can be challenge for companies • Hadoop, MapReduce software
15/19
Techniques and Technologies • Real-time analysis – Analyzing SNS and Internet boards in realtime can provide a significant opportunities – To derive customer satisfaction issues • Can run next best offer
– Companies improve service by using SNS data to be reflected quickly in real time • Coca-Cola co.
16/19
What should we prepare for Big Data era? • Maintenance of internal organization is required for internally using Big Data – Currently, most company’s data is distributed by division – Not a problem in a particular department, enterprise-wide perspective Condition
Key issues
Preparation
Data access
Third-party data utilizing, combining the internal/external data
Privacy, security and preparing the legal liability
Big Data infra
Cloud-based integrated analysis system
integration of distributed Data
Organization
Expert analysis, professional workforce
Recruiting specialists 17/19
What should we prepare for Big Data era? • National-wide plans to enhance national competitiveness – When Big data is utilized in public sector • Provides transparency and openness, and high levels of productivity and operational efficiencies
18/19
Conclusion • Big Data era is coming • Many companies can utilize BD-value cases, and provide effective results • Techniques – Cloud computing – Real-time analysis
• Enterprise-wide and national-wide preparation is required 19/19
Appendix
20/19
Appendix • Hadoop
21/19
