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Big Data A new era or just a temporary hype? Thomas Richard Haas Data Mining Spring term 2014 Agenda A Keeping a close eye on Big Data - Growing amount of data - Definition and Characteristics B What does Big Data provide? - Some techniques and technologies - Challenges for management and IT - How Wal-Mart learns about their customers C Quo Vadis Big Data? 2 D Literature A Keeping a close eye on Big Data 2.4 billion people with internet access 2012 Web 2.0 RFID Computational performance 22% use a smartphone Industry 4.0 Growing amount of data “From the beginning of human until the mid of the 2000s, People produced information about five Exabyte’s. Today, 2.5 Exabyte’s are produced – per day!” (Eric Schmitt, ex-CEO of Google, quoted in Smolan & Erwitt, 2012) 3 A Keeping a close eye on Big Data The data is generated and stored by a lot of different systems and sources, empowered by the access to customer data, web communities and newly deployed assets. (in Bughin et al. 2010) “[…] explosion of mobile networks, cloud computing and new technologies.” (Bollier 2010) Definition and Characteristics Volume Variety Velocity 4 B What does Big Data provide? Machine Learning Association Rule Learning Find relationships Market basket analysis Learn from data Natural language processing Some techniques and technologies Business Intelligence Hadoop Extracting information from raw data Hadoop MapReduce - Developed by Google - Divide & Conquer algorithm Cassandra noSQL, column-based DBMS More flexible than RDBMS - Developed by facebook - e.g.: columns can store columns 5 B What does Big Data provide? What do you expect? Business value Integration Quality and Validity Challenges for management and IT Talent management Legal aspects Culture 6 B What does Big Data provide? Social genome thorax Connect public & social data What do people talk about? Shelve-management Self-made by Wal-Mart Hadoop In-store navigation-app! Stores incoming data Get mobile data from the customer Self-made by Wal-Mart How Wal-Mart learns about their customers Largest retailer worldwide* > 10.000 retail units* 245 Million customers worldwide – weekly* “If you’re Wal-Mart, you have to understand what is happening in that customer’s life.” 7 (Lee Scott, CEO, Diekmann 2013) * Wal-Mart 2013 C Quo Vadis Big Data? New challenges and opportunities Decisions based on data, analyzed in real-time Increase profit, performance, reputation Also important for government and research But: It is neither a new Kondratieff nor a revolution of Business. “Big Data” is not a new era of business administration, but it provides ways of managing data with the goal to identify new patterns explaining both: our life as well as natural conditions! 8 D Literature Bollier, David (2010): The Promise and Peril of Big Data, Aspen Institute, Washington Bughin, Jacques/Chui, Michael/Manyika, James (2010): Clouds, big data, and smart assets: Ten tech-enabled business trends to watch, in: McKinsey Quarterly August 2010 Diekmann 2013: Walmart CEO Scott Shares Views On Big Data And More. By: Diekmann, Frank J., Credit Union Journal, 15215105, 11/11/2013, Vol. 17, Issue 44 Smolan, R./Erwitt, J. (2012): The Human Face of Big Data (last view 20.12.13, 17:39, http://www.jstor.org/stable/10.1525/bio.2013.63.9.4) Walmart 2013: Walmart Annual Report 2013 9 For further references just ask ;-) Thank you for your attention! Any questions? Feel free to ask! 10