Five Steps To Master Big Data and Predictive Analytics in 2014 - Forbes

Five Steps To Master Big Data and Predictive Analytics in 2014 - Forbes
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Five Steps To Master Big Data

and Predictive Analytics in
2014
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As recently as the past two

years, one of the seminal
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issues regarding Big Data was

storage, especially with respect
to the exponential growth and
size of unstructured data that
did not fit into databases (e.g.,
video feeds, PowerPoint
presentations). Indeed
petabytes and exabytes of data
exist in science, technology,
commerce, national defense,
telecommunications, and
other fields. Today, however,
the competitive landscape is
very different. Proper storage
is merely a pre-condition to
finding the real jewels in Big
Dataturning data from
massive streams into
knowledge, and thereby
actionable intelligence in real
time as events unfold.
The following five steps are
imperative to master Big Data
and drive business growth.
1.
Infer, Infer, Infer.
Understand that not all Big
Data is useful data. According
to the renowned AT&T Bell
Telephone Laboratories
statistician John Tukey, data
may not contain the answer.
The coordination of some data
and an aching desire for an
answer will not ensure that a
reasonable answer can be
extracted from a given body of
data.
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In an era of data-centric
science, we now have
advanced analytics that permit
inferences from granular data.
Inferences transform data into
knowledge, which results in
greater process transparency
and improvements. When
evaluating the need to institute
analytics as part of your data
strategy, it is important to
remember that actionable
knowledge is not inherent in
data per se; rather, it must be
extracted based upon
established rules and
algorithms. While extraction
and inference require the type
of core platform described
below, this should not be
overly complicated. As the
National Research Council of
the National Academies states,
even naive users should be
able to carry out massive data
analysis without a full
understanding of systems and
statistical uses. Data
scientists play an
indispensable role in todays
corporation, but business line
executives should not have to
rely on them to run analytics
and make the inferences that
are the basis for decisions. See
Frontiers in Massive Data
Analysis (National Academy of
Sciences 2013). As McKinsey
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puts it, sophisticated

analytics solutions . . . must be
embedded in frontline tools so
simple and engaging that
managers and frontline
employees will be eager to use
them daily. Mobilizing Your
C-Suite For Big Data
Analytics (McKinsey &
Company 2013).
2.
Empower a C-Level
Data and Predictive
Analytics Champion. With
big data analytics changing
rapidly and straining
information structures,
corporations and governments
need what McKinsey calls
executive horsepower or
top-management muscle
behind its data initiatives. Id.
Accordingly, a C-level officer
(e.g., Chief Data Officer, CTO,
or Chief Analytics Officer) who
comes from both a supply
chain and analytics
background must have the
mandate to lead model
analytic centers. In order to
succeed, analysts with deep
data experience must have a
clear strategy with defined
initiatives to achieve business
results. A forward-thinking
analytics strategy thus needs
to take place at the business
unit level. Why? First,
priorities will differ by
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business unit; the treatment of data in one business unit may have
little utility in another. Second, management priorities have to
reinforce functional level goals with targets and metrics. A C-level
executive who can work with business line managers and still
champion analytics in the C-suite is a must.
3.
Assess And Modify Your Supply Chain In A
Multidimensional Global Context. Do not examine your supply
chain without first considering logistics at a macro level. According to
the World Economic Forums Outlook on the Logistics & Supply
Chain Industry (2013), ratios of trade to GDP for the world as a
whole have increased from 39% in 1990 to 59% in 2012. This change
is in large part the result of a targeted and concerted effort by
industry and governments to increase economic growth and jobs.
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How does your supply chain fit into this larger context? Consider this:
a corporations failure to maximize the knowledge in its data and
thereby to contribute to unnecessary logistics costs imposes upon
itself and others (as well as international trade) what amounts to an
inefficiency-based tax. How are corporations faring on other fronts?
They spend an astonishing average of eight percent of net sales on
transportation, warehousing, customer service, administration, and
inventory carrying costs. Yet many do not have a comprehensive view
of their data, let alone their upstream or downstream logistics
functions. See Supply Chain Logistics As A Driver of Business
Strategy and Profitability (C.H. Robinson 2013).
Being in the blind has transformative impactsand not the kind you
want. What effect is your logistics framework having on your
company? On customer loyalty? How can you use most effectively
leverage your data both past and present, and what technology do you
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need to do so? And while an analysis of your supply chain will

ultimately include your relationships with parties such as customers,
manufacturers, providers and retailers, it should begin with an
inward-facing assessment of key assets.
4.
Give Your Data Time-Critical Situational Awareness.
In most organizations, data must be pulled from disparate and
distributed sources and then processed to yield actionable
intelligence. Analytics help a business line identify potential points of
improvement. Corporations need to make changes not only in real
time as events unfold, but also within the constraints posed by the
increasingly distributed nature of modern data sets.
Current supply chain management must be concerned with multidimensional data that includes temporal and geospatial elements.
Examples of temporal data are the acquisition of data from sources
such as the Internet, speech and video data, real-time imaging from
satellites, and ground-based sensors. Such inputs can be difficult to
analyze because the different sources that comprise the data stream
have different latencies. Moreover, the amount of temporal data is
growing exponentially. Geospatial data, on the other hand, tracks
location, whether that of a storm, a car, or a tornado that may render
impassible to your trucks certain highways, thus demanding quick
redirection to avoid time lost and equipment damage. For shippers,
for example, both elements come into play: it is useful to know the
location of ships, containers, and even packages in real time and/or
two days prior in order to see if interim movement in is unusual and
requires action. Coupled with temporal data, a logistics analyst can
make informed decisions as events in his supply chain unfold.
5.
Rely On A Core Platform That Creates Derivative
Intelligence And Knowledge In Real Time
Building a robust supply chain management platform from scratch or
by combining point solutions is nearly impossible. From the
perspective of cost alone, it is much more effective to partner with a
third-party cloud-based solution provider. Your criteria when you
choose a platform should be stringent. According to Tim Fleischer,
CEO of TransVoyant, a technology and services company that enables
sub-second operational decisions and support, criteria should
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include:
First, no data latencyyou need to see your assets in real time, in
motion, as they unfold. This is critical to actionable intelligence.
Second, the platform must be multi-dimensional. Failure to capture
temporal and geospatial data will leave even the savviest company
flat-footed. Third, your core platform must allow you to visualize your
data assets in multi-dimensions so that you can see what is happening
in real time. Fourth, it must be flexible enough to accommodate
different supply chains in your organization. Cargo shipping may bear
computers.
little resemblance from auto parts to Apple
Finally, the platform must yield derivative intelligence that will
become your companys intellectual property and thus comparative
advantage. This also applies to risk, such as controlling your DSOs,
another nugget to be gleaned from your knowledge-filled data.
Supply chain management should take place on a platform that

resides in a cloud such as Amazon Web Services (AWS), which
recently was predicted to be worth $50 billion by 2015. See Tiernan
Ray, Amazons AWS A $50 Billion Value (Barrons Nov. 18, 2003).
Cloud computing is not going anywhere, and the security of such
massive vendors is appropriately robust. The power of the cloud
allows for the extraordinary processing power made possible by
distributed computing. Now, statistical inferences can turn data into
actionable intelligence that supports reasoned decisions. Moreover,
companies can scale as they wish and absorb only the marginal costs
of their expansion.
See Also:
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Data Mining Tools
Web Data Visualization
Real-Time Data
Outsource Data Center
Data Infrastructure
Data Management Consultants
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Why 'Making a Murderer' Is

Netflix's Most Significant
Show Ever
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Netflix
is no stranger
to successful shows, and many
of them have had their
moment in the sun at one
point or another the past few
years. House of Cards, Orange
is the New Black, The
Unbreakable Kimmy Schmidt,
Bojack Horseman, Master of
None, Daredevil, Jessica
Jones. All of these shows have
been released, binged and
entered into the pop culture
lexicon, the subject of
discussion for at least a week
or two after release, given the
binge-watch nature of the
service.
But Making a Murderer is
different.
Not just because the genre has
switched from scripted drama
and comedy to a true crime
documentary. But because this
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is the first Netflix show that

seems to have completely
consumed its viewerbase from
top to bottom. Though many of
the shows mentioned above
are popular, they have pretty
specific audiences. But
Making a Murderer? The
story of Steve Avery has
seemed to hook pretty much
everyone who has laid eyes on
it.
The question is not if youve
seen Making a Murderer yet.
Its how long did it take you to
watch it? A week? Thats
insane. Three days? Thats
more like it. One day? There
you go.
I have never seen a show
consume the pop culture
conversation like this outside
of when programs like The
Walking Dead and Game of
Thrones kill off a major
character. Everyone on my
Facebook
and Twitter
is talking about it
(two very, very different
groups), and all my friends
have seen it as well. My wife
and I spent about two hours of
a three hour dinner party with
our friends last night talking
not about their newly
announced baby, but about
Making a Murderer, and just
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how enraged the show has

made us.
And were not alone.
This is, of course, the

fundamental draw of Making a
Murderer. Unlike all Netflixs
other shows, this is a real
story, with real stakes, and real
people who are still suffering
from the injustices we see
onscreen.
To briefly recap, Making a
Murderer is the culmination of
a decade of work by the
projects creators, Laura
Ricciardi and Moira Demos,
who exhaustively chronicled
the horrifying story of Steven
Avery and his nephew
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Brendan Dassey. The two

Wisconsin natives were
accused of raping and killing
Teresa Halbach, a young
woman who had come to take
pictures of Averys car for
AutoTrader magazine. Steven
Avery was supposedly the last
person to see her alive, and his
nephew eventually confesses
that he and his uncle raped,
tortured, and killed her,
burning her body in the fire pit
directly outside the house.
If that sounds relatively
clear-cut, youre in for quite a
ride. As it happens, Avery just
finished 18 years of a prison
sentence for a crime he was
exonerated from by DNA
evidence. Now, as his $36M
lawsuit begins against the
county, hes suddenly being
accused of a brutal murder,
and the same people who
railroaded him the first time
are deeply involved with the
new case.
I wont go through the entire
story here, youre better off
watching the show for yourself,
if youre one of the few people
who havent yet. There are
hooks after episodes one, three
and four, and if you make it
that far, I cant imagine you
wont be compelled to finish
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the story. I dont think Ive

ever heard of anyone stopping
midway through.
Once youre done, the question
becomeswhich part of it
makes you the most furious?
Which thing that occurs is the
most ludicrous miscarriage of
justice in your view?
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Is it that the States case

against Steven and Brendan
rely on a story that Teresa was
stabbed and killed in either his
bedroom or his garage, yet
literally zero blood was ever
found in either place?
Is it that the despite swearing
to stay away from the case,
Mantiowoc County police are
heavily involved, and key
evidence like a literal key (to
Teresas car) and a flattened
bullet with her DNA on it are
found only after their
detectives are left alone to
search his property
themselves?
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Is it that a Manitowoc County

officer is recorded calling in
the missing car days before it
was supposed to be found? Is it
that this car is found parked in
Averys salvage yard just a few
hundred feet from a car
crusher that could have easily
reduced it to scrap?
Is it that Brendan Masseys
statements are dragged out of
him by investigators who
promise theyll send him home
if he says whatever they want
to hear? Is it hearing a boy
with a very low IQ wonder
about if hell manage to make
it home in time to watch
Wrestlemania if he simply
admits to raping and
murdering a girl? Is it that
later he recants all of this and
says he got it directly from
James Pattersons book, Kiss
the Girls?
Is it the fact that despite what
seems to be a pretty clear
frame job by police,
incompetence by investigators
and outright psychological
warfare employed against an
intellectually challenged
minor, the jury still doesnt
seem to understand the
concept of reasonable doubt
and both are convicted?
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In a way, Making a Murder

channels Serial, the recent
true crime podcast that took
the nation by storm. But this
time, the answer seems much
more obvious, the injustice of
it all truly harrowing. Its hard
to imagine someone will watch
all ten episodes of Making a
Murderer and genuinely think
Steve and Brendan are guilty,
while Serial left its own case
much more up in the air.
Its hard to watch. You will yell

at your TV. You will grow to
loathe characters like creepy
mustache prosecutor and
stupid smiley useless defense
attorney. You will develop
your own suspicions about
what happened (What about
those two neighbors who were
each others alibis? Whose
calls was Teresa ignoring? Why
does her brother weird me out
so much?). But most of all you
will be profoundly sad about
how on so many levels, the
justice system failed here.
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In a way, Making a Murderer is justice for Steven Avery and Brendan

Dassey. Obviously, theyre still in prison, a situation which needs to
be rectified, but a problem always was that even if they were found
not guilty, at least in Wisconsin with the facts the police and media
presented, everyone still would have believed they did it. What
Making a Murderer does is restore their reputations, and tell their
horrible story to those who have never heard it. The show itself is its
own form of justice, showing the real heroes and villains of the case
for the world to see.
This feels like the first truly national conversation Netflix has started
about one of its shows. Yes, many are discussing the latest schemes of
Frank Underwood or heroics of Jessica Jones for a few days after
those shows air, but this feels like something much more profound. A
genuine phenomenon, possibly the services first.
It remains to be seen if true justice will be served for Avery and
Dassey, if somehow, some way theyll be proven innocent after all this
time. But if I had to guess, this is not the last time Netflix will visit this
case, judging by the response of their audience.
Follow me on Twitter, on Facebook, and on Tumblr. Pick
up my sci-fi novels, The Last Exodus and The Exiled
Earthborn, which are now in print and online.
Why do people still love The Walking Dead? Watch below:
1/4/2016 4:29 PM
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See Also:
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2016 Tax Brackets
Promoted by Revcontent
Ever Googled
Someone? Do A
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A Popular New
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Anyone's Past.
2 Dudes On
Buffetts
Shark Tank
Warning: 4.5M
Reveal A Trillion Americans Own
Most
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Warren
Buffett's
Must-Read
The US
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Shark Tank
Star Reveals
Sneaky Method
An Extremely
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Pay Off Your
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1/4/2016 4:29 PM

Five Steps To Master Big Data and Predictive Analytics in 2014 - Forbes

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Five Steps To Master Big Data and Predictive Analytics in 2014 - Forbes

Five Steps To Master Big Data

As recently as the past two

issues regarding Big Data was

puts it, sophisticated

need to do so? And while an analysis of your supply chain will

Supply chain management should take place on a platform that

Data Management Platform

Data Mining Tools

Web Data Visualization

Outsource Data Center

Data Management Consultants

Why 'Making a Murderer' Is

is the first Netflix show that

how enraged the show has

This is, of course, the

Brendan Dassey. The two

the story. I dont think Ive

Is it that the States case

Is it that a Manitowoc County

In a way, Making a Murder

Its hard to watch. You will yell

In a way, Making a Murderer is justice for Steven Avery and Brendan

Real Estate Crowdfunding

Car Lease Specials

Best Retirement Plans

Work At Home Jobs 2016

Best Smartphones of 2016

2016 Highest CD Rates

2016 Tax Brackets

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