Tools of the Trade
Session 1
Big Data is data whose scale, distribution, diversity and or timeliness require the use of new technical architectures and analytics to enable insights that unlock new sources of business value.
McKinsey & Co.; Big Data: The Next Frontier for Innovation, Competition, and Productivity
79% of enterprise executives agree that companies that do not embrace Big Data will lose their competitive position and face extinction
Source: Accenture
Volume
Velocity
Variety
Veracity
Value
Genetic sequencing and human genome mapping provide a detailed understanding of genetic makeup and lineage.
A powerful tool that allows the analysis of human languages, e.g. sentiment analysis and key word idenfitication. Companies like Google and Amazon make use of NLP and other technologies to give us a virtual assisstant experience.
Read more about this storyMost Big Data softwares use an approach called 'Divide and Conquer' where the data will be split into smaller 'chunks' and processed simultaneously across different nodes and the results combined. This process happens over several servers so if one fails the analysis can continue and the remaining can pick up the slack.
Which is Faster?
Activity
In breakout rooms read and discuss this article .
Advantages
Disadvantages
Disadvantages (Cont)
Activity
Mr Jones works in a data analytics department and has been given a project to complete. He must design a dashboard that displays daily KPIs for his stakeholders. In teams you will be each be assigned a different product (Tableau, Python, etc) and will come up with arguments to convince Mr Jones to use your product. Each team will then be given 1 minute to pitch their product.