Big Data: Getting Smarter
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Transcript of Big Data: Getting Smarter
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Big Data: Getting SmarterCharles MokLegislative Councillor (Information Technology)
2016.4.30 @ HKUST MBA course sharing
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Datasets getting bigger
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Big Dataecosystem is maturingBig Data startups received $6.64B in venture capital investment in 2015, 11% of total tech VC.
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Convergence of cloud, analytics, mobile and social technologies
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Are these your questions?1. How can it help enterprise stay competitive?
2. How to drive innovation, growth & transformation?
3. How to integrate big data into operations and business development while keeping costs low?
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How can big data help meet business goals?
Reduce cost
Improve productivity
Customer acquisition
and expansion
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Next-gen sales and operations planning
Improved segmentations to up-sell and cross-sell
Process and information automation
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Is big data still THE thing in 2016?
Plateau reached?
New hype?AI, machine intelligence, deep learning…
Enterprise tech:Legacy infrastructuremakes deploymentcomplicated
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Now that I have data, what insights am I going to extract from it?
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Data: The More the Better?
Size is no longer king
content and context more important
time, location, associations, links, interdependencies, etc.
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Problem arises
structured data (your company's proprietary
information) x unstructured data (public sources such as
social media streams and government feeds)
= ?????
Data cleansing, labeling and organising become essential before the data is made USEFUL New opportunities / business?
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Example: Big Data for Financial Modelling
Boutique firm specialises in providing non-traditional / alternative data
From social media buzz to satellite images, mined by cutting-edge computer scientists
Allows new insights for investors and analysts, users can develop their own valuation model
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Help analyze massive amounts of data and derive predictive insights…
and help data scientists to do a quicker and better job.
AnalyticsThe rise of algorithm & AI to handle unstructured data for
business intelligence
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Example: FinTech
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The flowAggregate Anonymize
Analyze
Data from business operations
Media
Customer engagement
Actionable Data
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Experiment DeploymentProcessesDiscoveriesDecisionsApplications
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How can big data increase ROI?
• More precise decision-making• Real time analysis and capture
opportunities• Value-adding and knowledge management
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Emerging trends in big data
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IoT, Cloud and Big Data
come together for real time analytics consumer can use
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Chatbots are taking over: Big tech companies’ new battling ground
DigitalGenius: chatbot startup raised US$4.1 million funding early April 2016 harness the technology for automating customer service operations.
Requires combing through lots of data and returning an answer by machine learning
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New government initiatives
Increase the Wi-Fi hotspots to over
30,000 in Hong Kong.
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Big Data x Open Data: Transport as case study
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No Open Data, No Smart CityWhat can developers use at present?
Available for free - items in transport:
● Journey time indicators ● Speed map panels ● Traffic snapshot images ● Traffic speed map● Routes and fares of public transport
● MTR routes, fares and barrier-free facilities
● Electric vehicle charging station locations
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Upgrade of TIS in the next few years to support real time data,analytics, and…
Open data?
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Overseas: government support to sharing real time data/API
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What difference does it make? In HK we have an approximate
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In Tokyo and London, we get real time info
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Policy perspective: Big data / Open data
Access to informationTransparency
ParticipationA better citizen experience for a more connected citizenry
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Big Data and Citizen Engagement
• Public participation system
• Smart Engagement: Polling and data mining
• Identify public opinions for targeted policy initiatives
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Use of personal-identifiable data- growing concern for consumers- focus for regulators- battleground for consumer trust
Companies need to proactively respect and protect consumer data
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Thank [email protected]: Charles Mok 莫乃光www.charlesmok.hk