Introducing Big Data

Walmart

Kayak

Coca-Cola

What is Big Data ????????

Big

data is defined as a collection of data sets so

large and complex that it becomes difficult to
process using hands on database mgmt tools or
traditional data processing tools
The challenges include capturing, storing, curating,
sharing, transferring , analyzing and visualizing this
data
Additionally the velocity at which the data is
generated is also enormous
Almost 2.7 zeta bytes of data exist in modern
world of which 90% was generated in the last 2
years
Volume , Velocity and Variety are the driving
constructs for Big Data

Data Size

Data Visualization Bowling

Pattern

Data Visualization EBOLA

spread

Example 1
A

modern retail store can combine weather,

geographical and social media data with
their sales figures
Basically creating interesting correlations to
get new insights into sales over a time
period
This leads to a challenge to combine
unstructured audio, video, text and graphics
over web / social media into structured rows
and columns
This is where data science and technology
needs to merge seamlessly

Example 2 & 3
A

leading automotive company is

combining feeds from social
media
platforms
with
sales
analytics , demographic data and
vehicle usage statistics to decide
on the features in their next SUV
An insurance company is using
customer
profile
data
and
macroeconomic
feeds
to
maximize revenue per customer

Result
In

late September , towards end

of monsoon, a lady walks in a
retail store
Her mobile beeps a message.
This is the message for special
offer on 25 kgs of rice bag. The
lady happily buys it.
What
all
data
is
combined ???????
Season
feeds, ladys earlier

The Problem
The

data being enormous

marketers are stuck and get
confused as to how to use the
data and implement data insights
into the real time situations

Implementing Big Data

Begin

with
stakeholders
and
consider
the
culture
of
the
organization : Finding the data suppliers
and decision makers in any organization
is
critical
to
big
data
success.
Organizations need to shift their culture if
they are a gut feel driven organization
Find your data stewards : Big Data is a
marketing program , but it is wise to keep
your CIO on your side to ensure that the
technical aspects are taken care of.

Implementing Big Data

Set

clear goals :
As a
departmental store did a big data
pilot , they reported a 10 %
increase in sales after they moved
ladies shoes next to dresses
section. Following this success ,
they rolled out the program
across stores and enjoyed a 20 %
increase in gross sales

Implementing Big Data

Create

the Plan : When developing

your plan, link the goals to the constructs
that define Big Data (volume, velocity
and variety). Also recognize Big Data is
a compliment, not a replacement, to your
existing
analytics
such
as
data
warehouses, OLAP, and decision support
systems (DSS). And of course no plan is
complete without ROI projection, but
dont try to create an overarching Big
Data ROI forecast.

Implementing Big Data

Establish

the Metrics : limit

the number of metrics to only a
few high priority measures,
rather than a more exhaustive
list. Initially correlate employee
demographics
and
sales
effectiveness
to
get
initial
insights into the kind of sales
persons who are successful in
your business. Then gradually
escalate
to
more
complex

Implementing Big Data

Deploy

the technology : A common

technology starting point is the open source
Big Data engine, Hadoop. This tool is
particularly well suited for loosely structured
or unstructured data as well as high volume
search and discovery.
Rather than requiring a separate application
for big data presentations, its far more
effective to include big data insights within
existing decision support systems, or within
existing business apps such as CRM, ERP
and HCM software applications.

Implementing Big Data

Match

the Eureka Moment

with
commonsense
:
An
employee correlated sales of
banana with beer. He got a real
thrashing from his manager.
Banana was the highest selling
item in that region and can
correlate with any item in the
store practically. So dont forget
commonsense.

Implementing Big Data

Go

for Continuous Process

Improvement : Good decision
making is an ongoing process ,
hence work towards constant
improvement of the system

Some Factors used in Big Data

Analytics
Consumer

Sentiments : Taking this a

step
further,
theres
also
an
opportunity to correlate customer
sentiment
analysis
with
broad
economic factors, specific market
indicators, competitor moves or other
factors that may uncover patterns that
permit companies to model changes
for improved customer consumption
and company performance.

Some Factors used in Big Data

Analytics
Customer

experience : link this

information to demographic, cultural
and other preferences, and leverage
the
information
for
improved
customer services delivery (order
processing,
product
delivery,
invoicing, customer support, renewals,
etc.), increased revenue objectives
(i.e. up-sell, cross-sell and customer
share) and decreased customer churn.

Who can use Big

Data ???????
Marketers

are using Big Data to better

forecast what products to sell to what
customers and when, and how to bundle
products to increase sales
Sales managers are analyzing website and
social media data to identify products and
services frequently viewed (i.e. measured by
volume of page reads, long page durations
and low exit points) but not as frequently
purchased in order to uncover the barriers
standing in the way of purchase, and unlock
otherwise hidden sales opportunities.

Who can use Big

Data ???????
Customer

service
managers
are
extracting unstructured data from social
networks and social streams to better
predict
product
defects
based
on
consumption rates, usage patterns and
geographies, and how product defects
occur or accelerate when used with other
products.
Theyre also using this information to take
proactive
actions
and
implement
remediation measures, sometimes in
advance of the defects occurring.

cont.
By

analyzing customer complaints (tweets,

SNS/SMS, etc.) along with the volume, trending
and responses to those complaints, extracting
anomalies or patterns, and comparing the data
to defect signs or product complications,
proactive action can be taken while costs to
repair both products and reputation are low.
Some Call Center managers are even tapping
into customer service call recordings (using
customer profiles, keywords and sentiment
analysis) to quickly detect product deficiencies
early; not when the period-end reports are
compiled and read two weeks later

Who can use Big

Data ???????
Human

Capital Management
professionals
are
better
optimizing
human
resource
assignments
based
on
environmental factors, customer
market
trends
and
their
employees online social profiles

Who can use Big

Data ???????
Retail

organizations are using store

security videos to understand in-store
customer traffic patterns (which can also
be done with IC/RFID tags on carts) and
determine how changes to in-store
configuration can impact revenues.
They
are
also
correlating
this
information with Point of Sale (POS) and
weather data to understand how
environmental conditions impact product
positioning, promotions and sales.

Who can use Big

Data ???????
Finance

has the ability to link all

other Big Data elements to
measures such as customer
profitability, Customer Lifetime
Value (CLV), product margins and
other data sets which link to
financial outcomes and therefore
must be a part of any Big Data
initiative.

Pitfalls in Big Data

Putting

the technology ahead of the

processes, people and specific
outcomes
Another pervasive challenge with
big data is data relevancy. With
more data comes more noise
Data privacy, information security,
information
distribution,
data
presentation
and
even
data
overload