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Tame big data and you'll reap the rewards - The Globe and Mail
HARVEY SCHACHTER
Special to The Globe and Mail
Published Tuesday, Apr. 15 2014

“It’s a catchall term for data that doesn’t fit the usual containers. Big data refers to data that is too big to fit on a single server, too unstructured to fit into a row-and-column database, or too continuously flowing to fit into a static data warehouse. While its size receives all the attention, the most difficult aspect of big data really involves its lack of structure,”....He cites some industries that have big data but aren’t making proper use of it. Banks have massive amounts of information about their customers but have been underachievers in helping them make sense of it all and presenting targeted marketing offers. Retailers have purchase behaviour information from their point-of-sales systems but, with the exception of Wal-Mart and Britain’s Tesco, haven’t done a lot until recently.
Harvey_Schachter  Thomas_Davenport  banks  retailers  massive_data_sets  behavioural_data  books  book_reviews  unstructured_data  analytics  competingonanalytics  sense-making  point-of-sale  Wal-Mart  Tesco 
june 2014 by jerryking
Keeping Up With Your Quants
July-August 2013 | HBR | Thomas Davenport.

Article places people into two buckets, as either producers or consumers of analytics. Producers are, of course, good at gathering the available data and making predictions about the future. But most lack sufficient knowledge to identify hypotheses and relevant variables and to know when the ground beneath an organization is shifting. Your job as a data consumer is to generate hypotheses and determine whether results and recommendations make sense in a changing business environment—is therefore critically important....Learn a little about analytics.
If you remember the content of your college-level statistics course, you may be fine. If not, bone up on the basics of regression analysis, statistical inference, and experimental design.

Focus on the beginning and the end.
Ask lots of questions along the way.
Establish a culture of inquiry, not advocacy.
HBR  Thomas_Davenport  massive_data_sets  data_scientists  data  data_driven  howto  analytics  decision_making  quants  questions  endgame  curiosity 
july 2013 by jerryking
Big Data: Rise of the Machines
December 31, 2012 | NYTimes.com | By STEVE LOHR.

What is different between "analytics" and "Big Data"? Data volumes have been steadily increasing for decades, Mr. Davenport noted, though the pace has accelerated sharply in the Internet age. “More than the amount of data itself, the unstructured data from the Web and sensors is a much more salient feature of what is being called Big Data,” he said.

I also asked David B. Yoffie, a technology and competitive strategy expert at Harvard, who is not part of the Big Data crowd, what he thought. The Internet, he observed, has been a mainstream technology for 15 years, and so has the ability to monitor and mine Web browsing behavior and online communications, even if those skills are much improved now.

Still, Mr. Yoffie is most impressed by the rapid spread of low-cost sensors that make it possible to monitor all kinds of physical objects, from fruit shipments (sniffing for signs of spoilage) to jet engines (tracking wear to predict when maintenance is needed).

“The ubiquity of sensors is new,” Mr. Yoffie said. “The sensors make it possible to get data we never had before.”

Machine-generated sensor data will be become a far larger portion of the Big Data world, according to a recent report by IDC. The research report, “The Digital Universe in 2020,” published in December, traces data trends from 2005-20. One of its forecasts is that machine-generated data will increase to 42 percent of all data by 2020, up from 11 percent in 2005.

“It’s all those sensors, the Internet of Things data,” said Jeremy Burton, an executive vice president at EMC, which sponsored the IDC report.

The implication is that Big Data technology will steadily move beyond the consumer Internet.
massive_data_sets  Steve_Lohr  Thomas_Davenport  unstructured_data  Industrial_Internet  David_Yoffie  data  saliencies  sensors  analytics 
january 2013 by jerryking
The value of information
Philip Delves Broughton
Financial Times; London
03-08-2011

Jump to best part of document
The value of information
data  data_driven  analytics  Philip_Delves_Broughton  Thomas_Davenport  data_mining 
april 2011 by jerryking
When There’s No Such Thing as Too Much Information
April 24, 2011 | HeraldTribune| STEVE LOHR. “The biggest
change facing corporations is the explosion of data,” says David
Grossman, a tech analyst at Stifel Nicolaus.“The best business is in
helping customers analyze & manage all that data.”..The productivity
payoff from a new technology comes only when people adopt new
management skills & new ways of working [i.e. marginal improvements]. “It’s never pure technology
that makes the difference,”It’s reorganizing things — how work is done.
And technology does allow new forms of organization.”...Is there real
evidence of a “data payoff” across the corporate world? New research led
by Erik Brynjolfsson, an economist at MIT, suggests that the beginnings
are now visible...Brynjolfsson and colleagues, Lorin Hitt, (Wharton),
& Heekyung Kim, a grad student at M.I.T., studied 179 large
companies. Those that adopted “data-driven decision making” achieved
productivity 5 to 6 % higher than could be explained by other factors,
including how much the companies invested in tech.
Steve_Lohr  information_overload  analytics  data_driven  Erik_Brynjolfsson  Thomas_Davenport  MIT  Northwestern  books  data  massive_data_sets  organizational_design  productivity_payoffs  marginal_improvements 
april 2011 by jerryking
Are You Ready to Reengineer Your Decision Making? - The Magazine -
July 21, 2010 | MIT Sloan Management Review | Thomas H. Davenport, interviewed by Michael S. Hopkins
Thomas_Davenport  MIT  decision_making  analytics  competingonanalytics 
august 2010 by jerryking
Gaining and holding attention in a cluttered world
Jun 2007 | Public Relations Tactics. New York: Vol. 14, Iss.
6; pg. 6, 1 pgs | by John Guiniven. In their breakthrough book "The
Attention Economy," Thomas Davenport and John Beck said an important
distinction exists between awareness and attention."We are aware of many
things, but not paying attention to them,' ' they wrote.When we focus
on a particular item, we become engaged, attentive, and we move to a
decision phase, which leads to the sought-after and repeat
behaviors....Finally, evaluation, often ignored in awareness campaigns,
needs to be incorporated into attention campaigns. Was the message
source - the spokesperson or the organization itself- seen as
trustworthy and credible? Was the message context related to a concern
of the audience?Was the message content engaging to the point of
audience involvement? Did the audience consider the substance of the
message?
attention  public_relations  ProQuest  Thomas_Davenport  analytics  attention_spans  awareness  attention_economy  Communicating_&_Connecting  messaging  pay_attention 
march 2010 by jerryking
The HBR List 2009 - Should You Outsource Your Brain?
February 2009 HBR article by Thomas Davenport on companies outsourcing decision analysis.
Octothorpe_Software  analytics  competingonanalytics  decision_making  Thomas_Davenport 
february 2009 by jerryking

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