Big Data and Internet of Things for Managers
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The document outlines the importance of big data and the Internet of Things (IoT) for business management, delivered by data scientist Peadar Coyle. It emphasizes the need for skilled analysts to harness data for competitive advantage, showcases various industry case studies, and highlights the multifaceted applications of data science in decision-making. Additionally, it discusses the evolving role of data scientists and the significance of data products in modern business strategies.
Big Data and Internet of Things for Managers
- 1. Big Data and Internet of Things for Managers PeadarCoyle @springcoil
- 2. Who am I?Who am I? Keynote,SpeakerandTeacheratconferencesthroughout Europe Industryworkand'bigdata'blogger forseveralyears Co-organizerofDataScienceMeetupinLuxembourg
- 3. Who do I work for?Who do I work for? IworkintheProductteamasaDataScientistforJobTODAY We'reaVC-backedrecruitmentappbasedinLuxembourg www.jobtoday.com
- 5. So how come I care about data?So how come I care about data? Well I always loved science.Well I always loved science. I wanted to be a neuroscientistI wanted to be a neuroscientist
- 6. Then I fell in love with MathematicsThen I fell in love with Mathematics I studied Quantum Mechanics at Bristol andI studied Quantum Mechanics at Bristol and Mathematics in LuxembourgMathematics in Luxembourg
- 7. This gets a bit complicated...This gets a bit complicated... And my cat was never much use...And my cat was never much use...
- 8. Along the way I learned someAlong the way I learned some programming and other skills...programming and other skills...
- 9. I needed to find a careerI needed to find a career And I decided Academia wasn't for me.And I decided Academia wasn't for me. So I became a data scientist!So I became a data scientist!
- 11. What is a data scientist?What is a data scientist? AstatisticianwholivesinSanFrancisco AdataanalystwholivesinNewYork DataScienceisstatisticsonaMac. Adatascientistissomeonebetteratstatisticsthanany softwareengineerandbetteratsoftwareengineeringthanany statistician. http://datascopeanalyticscom/what-we-think/2014/02/05/what-is-a-data-scientist
- 12. Why am I talking about this?Why am I talking about this?
- 13. What is the competitive advantage?What is the competitive advantage? Massivelypersonalisedonlineexperiences 'Datamoats'arehardtocopy
- 14. AmazonAmazon: Supply chain and: Supply chain and warehouse modelswarehouse models
- 15. Selecting 'House of Cards'Selecting 'House of Cards' Source:Netflix Idea:NetflixknewthatDavidFincherfanslikedpolitical dramas,andthatKevinSpaceywasverypopular-from analysingvideoplayingdata,andcustomerpreferences
- 17. So, who is talking aboutSo, who is talking about Big DataBig Data?? "Weprojectaneedfor1.5millionadditional managersandanalystsintheUnitedStateswho canasktherightquestionsandconsumethe resultsoftheanalysisofBigDataeffectively."- ,McKinseyreport Bigdata:Thenextfrontierforinnovation, competition,andproductivity
- 19. Gartner says 'Data is the new oil'Gartner says 'Data is the new oil'
- 20. But talk is cheap...But talk is cheap... Bigdataisliketeenagesex:everyonetalksabout it,nobodyreallyknowshowtodoit,everyone thinkseveryoneelseisdoingit,soeveryone claimstheyaredoingit...- ProfessorDanAriely-DukeUniversity
- 23. But I work in the real world not online!But I work in the real world not online! UPSusesdatafromtheInternetofThingstotravelmore efficientlyandsavemillionsonfuelconsumption.
- 24. So what other areas?So what other areas? Thesearecasestudiesfromvariousmarketsegments Theaimistohelpyoubrainstormapplications Happytoansweranyquestionsafterwards
- 25. How do you recommend books?How do you recommend books? Use Machine Learning!Use Machine Learning!
- 26. Preventative Maintenance forPreventative Maintenance for WindmillsWindmills Siemens are leveraging IoT dataSiemens are leveraging IoT data 'Source:EnglishWikipedia,originalupload15July2004by -CreativeCommonsSharealikelicenseLeonardG.
- 27. Web Crawling and ScrapingWeb Crawling and Scraping ZalandotheGermanfashione-commercecompany arescraping millionsofwebsitestofindtrends.
- 28. Audio and visual dataAudio and visual data Spotifyusessounddataintheirrecommendations!
- 29. Social media dataSocial media data
- 30. Fashion - Image AnalysisFashion - Image Analysis Lyst.comleveragenovelhuman-in-the-looprecommendation engines,recommendonthebasisofcoloursofclothes,anddo cutting-edgeimageanalysiswithdeeplearning alltoprovidevalueinFashion-Tech.
- 32. What about Metadata?What about Metadata?
- 34. Even in Food...Even in Food... MonsantoCEOrecentlysaid'datascienceispartofourgrowth strategy' MonsantoleveragesClimateCorpsalgorithmstoup-sell fertiliserandotherservices
- 35. I hope you can see that there is...I hope you can see that there is...
- 37. Pick the right methodology for the jobPick the right methodology for the job Text->topicmodelling,sentimentanalysis,information extraction E-commercedata->prospensityanalysis,collaborative filtering Multimedia->speech-to-text,audiofingerprinting,face recognition Clickstreamlogs->frequentpatternmining,sequenceanalysis Yieldoptimisation->Optimisationmodels,weather forecasting Proton-protoncollisionfromLHC->Ihavenoideadespite havingaPhysicsdegree
- 40. What is a data product?What is a data product? Adataproductprovidesactionableinformationwithoutexposing decisionmakerstotheunderlyingdataoranalytics. Examplesinclude:MovieRecommendations,Weather Forecasts,StockMarketPredictions,ProductionProcess Improvements,HealthDiagnosis,FluTrendPredictions,Targeted Advertising. –MarkHerman,etal.,FieldGuidetoDataScience
- 41. Here is an Example from Mailchimp:Here is an Example from Mailchimp: When should I send that email?When should I send that email?
- 42. And produce a magic button :)And produce a magic button :)
- 43. Case Study - Marketing Analytics: InCase Study - Marketing Analytics: In the Game Industrythe Game Industry 1)Usesgamersplaydatatooptimizemarketing communicationsacrosschannels.-Customersegmentation modelling 2)BuildingPersonalizationEngineRulesfor1:1 communicationswithindividualgamers.Tohelpreducecustomer churn. 3)Predictsgamerslikelihoodtochurnortorespondto up-selloffers.
- 45. Example:Supply Chain ManagementExample:Supply Chain Management TheseareexamplesfromTableauanexcellentdatascienceproduct-basedonlaptopsizeddata sets.SimilartomyAmazonwork. Howeverthesecanalsobebuiltwithopensourcetools.
- 46. Electricity DemElectricity Demand predictionand prediction Analysing IoT data for demandAnalysing IoT data for demand predictionprediction
- 47. Andletdatabeyourguide. So you can do an experimentSo you can do an experiment
- 48. User Conversion after a website change.User Conversion after a website change. ..
- 49. Example: Financial AnalysisExample: Financial Analysis
- 51. Example: Moving average of AAPLExample: Moving average of AAPL
- 52. Especiallywithchangesinregulation... Risk is also data science challengeRisk is also data science challenge
- 53. Data can be used for NGO'sData can be used for NGO's Thisisawebappofhousepricesandcommutes,doneforanNGO inLondonwhowantedtoshowtheeffectsof changesinhousepricesonpeoplescommutes.
- 54. Politics: Hilary ClintonPolitics: Hilary Clinton DataScientistsforhercampaignhelpoptimisemediabuys, analysetheeffectofcommunicationandoptimisethedonor acquisitionstrategy.
- 55. So why would I need a data scientist?So why would I need a data scientist? Youmayalreadyhaveone.Iknownumerousbusiness intelligence,dataanalysts,businessanalysts,riskanalystswho AREdatascientists. Alternativelyyoucanhireadataanalyticsconsultanttohelpyou getstarted. ButwhatsignalsshouldIlookfor? Welltherearemanyanswers...Like...
- 56. Does this sound like you?Does this sound like you? Are you losing customers and not understandingAre you losing customers and not understanding why?why? Are you making decisions on the basis of data or onAre you making decisions on the basis of data or on the basis of 'gut feeling'?the basis of 'gut feeling'? Are you changing your websites or products on theAre you changing your websites or products on the basis of data driven experimentation?basis of data driven experimentation?
- 57. If you want Interviews with expertsIf you want Interviews with experts http://bit.ly/1Uks2Rr orwww.peadarcoyle.com
- 58. Thank You For ListeningThank You For Listening Anyquestions? Reachouttomeifyouhaveanydataquestions. I'llbedoingatrainingon'bigdata'atNyukosoon. @springcoil SearchPeadarCoyleonLinkedin peadarcoyle@googlemail.com