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  • admin 9:51 am on November 23, 2015 Permalink
    Tags: , Bieber, Bill, , Gates, , Justin, Odds, ,   

    OJ, Bill Gates And Justin Bieber Walk Into A Pub To Talk Big Data Analytics. What Are The Odds? 

    About the same as any of them winning the UK lottery jackpot, I reckon.

    Especially now that lottery operator, Camelot, is determined to make it even harder for a punter to hit the jackpot, by adding an extra 10 balls to the current 49.

    pub

    Which means odds will lengthen from an already breathtaking 14,000,000/1, to a flabbergasting 45,000,000/1. Putting that into perspective, you’re:

    • five times more likely to be stuck by lightning twice during your lifetime (9,000,000/1), or
    • 12 times more likely to be killed by a shark (3,700,000/1)

    than land the big one.

    Life, as they say, is a bit of a lottery.

    Analyzing the Analyzers

    I don’t play the Lottery in fact, but as a Financial Services Industry Consultant with little formal statistical training, I do have a vested interest in getting to grips with the associated mathematical concepts, and what makes data scientists who use them, tick.

    A couple of years ago, I came across ‘Analyzing the Analyzers’; an insightful book that runs the rule over 250 data scientists and their considerable skills.

    And what a disparate bunch they are. As you might expect, some excel in maths and statistics and some, programming. Others show more of an aptitude for business, and so on. According to the author, these differences throw up four distinct personae – Data Businessperson, Data Creative, Data Developer, and Data Researcher.

    All hands to the analytical pump

    Which I love, because the category ‘Data Businessperson’ makes me a data scientist, too (well, that’s my story and I’m sticking to it – got to raise the tone of my CV somehow).

    It also supports my belief that getting value from Big Data demands more than a PhD in Advanced Statistics or Machine Learning.

    That said, the truly-experienced, propeller-hat-wearing data scientist who can also demonstrate the required business knowledge, expertise, and experience, is a rare pearl. Not surprisingly, this makes them a very expensive resource. So, wouldn’t it be great if I, and my fellow Data Businesspeople, could help out a bit? You know, performing the kind of sophisticated analytics on structured and unstructured data, normally the exclusive province of the propeller-heads. Expanding (the availability) while reducing (the cost of) the resource, so to speak.

    A meeting of minds

    Happily, there are advanced analytic solutions available today that improve the odds of this happening. They wrap-up many of the latest and most powerful analytical tools and techniques – MapReduce, R, and Path & Graph analyses, for instance – in pre-packaged analytic functions, SQL-like syntax, and analytic apps. This is a whole lot easier than crafting hundreds or thousands of lines of Java.

    Of course, analytic capabilities have to be highly scalable – accessing and moving both structured data in various databases and unstructured data in Hadoop, as well as pushing-down analytic processing.

    But whatever the prerequisites, if organisations are going to get the most out of their existing data and Big Data, there needs to be more of a crossover between roles and skills like mine, and those of the traditional data scientist. More understanding; a meeting of minds. I need more analytical nous; they need more business awareness.

    Meanwhile, back in the pub…

    By now, The Juice is working the bar, telling anyone who will listen, that turning people like me into analysts would be like trying to get a lottery operator to discover insights and extract maximum business value from another organisation’s data. At the dartboard, Bill weighs-in with another point of view: “lottery odds are fixed, but you can shorten Big-Data-value odds by equipping Data Businesspeople with powerful analytical capabilities and easing the data science workload.”

    And in the skittle alley, Justin chews the fat over the merits of using advanced analytics on structured and unstructured data.

    Unlikely? Stranger things have happened. Like David and Kathleen winning more than £1 million in the Euro millions lottery, twice in two years.

    The odds? An astronomic 283,000,000,000/1.

    So, listen-up all you Industry Consultants! You’ve got more chance of winning the Data Businessperson Lottery than a philanthropist, an infamous ex-footballer, a teen-town heartthrob, and a middle-aged couple from Lincolnshire UK.

    Why shouldn’t it be you?

    This post first appeared on Forbes TeradataVoice on 18/09/2015.

    The post OJ, Bill Gates And Justin Bieber Walk Into A Pub To Talk Big Data Analytics. What Are The Odds? appeared first on International Blog.

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  • admin 9:50 am on October 8, 2015 Permalink
    Tags: , , , , , Odds, ,   

    Forbes Insights Survey How to Increase Your Odds of Success with Big Data and Analytics 


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  • admin 10:33 am on August 30, 2015 Permalink
    Tags: , , , , , , Odds, , ,   

    Webinar: Forbes Insights Survey: How to Increase Your Odds of Success with Big Data & Analytics 

    In this webinar, Bruce Rogers, Forbes’ Chief Insights Officer, will discuss the key findings from the survey. He will be joined by Matt Ariker from McKinsey and Chris Twogood from Teradata who orchestrated the survey questions. Together they will share how organizations can increase their odds of success with big data and analytics.
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