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Data Innovation in the Digital Economy

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Data Innovation in the Digital Economy

  1. 1. DATA INNOVATION IN THE DIGITAL ECONOMY Chandan Rajah [ @ChandanRajah ] “Innovation without commercialisation is like a car without an engine” – Vince Cable
  2. 2. What’s the Digital Catapult ? Not for Profit Organisation Funded by Innovate UK Stimulate the Digital Economy Unlock Value from DataHelp New Businesses Faster and more Trusted Ways Collaborate Unlock Accelerate> > One of Seven Rapidly Advance UK’s best Digital Ideas
  3. 3. DIMENSIONS OF FOCUS PERSONAL DATA AND TRUST PROPRIETARY AND DIVERSE DATA INTERNET OF THINGS CREATIVE INNOVATION
  4. 4. Digital Catapult Centre
  5. 5. Personal Data, Privacy and Trust “Find new ways for technologists to work with data whilst safeguarding individual privacy and security” Projects • Energy MiData • Milton Keynes Citizen MiData Study • European IT ICT Labs High Impact Initiative on Personal and Trusted Data Evolution • Trust Frameworks • Capability Hub • Central Consent Broker
  6. 6. Unlocking Diverse and Proprietary Data “making information useable by creating new ways for small businesses to exploit the full potential of diverse, proprietary and closed data sets” Projects • Trusted Data Hub * • Open Health Data Platform • Manchester Open Data • Environment Data Hub Evolution • Data Exchange and Marketplace • Simplified Data Licensing • Ontology and Data Discovery
  7. 7. Internet of Things “Accelerating the prototyping of future products and services by giving innovators advance access to the next generation of connected technologies.” Projects • 5G Innovation Centre Access and Fellowship • Milton Keynes Smart Hub • Milton Keynes Whitespace • European 5G PPP Community Engagement • Euro CPS Evolution • Capability Hub • Innovator Labs and Demonstration Space
  8. 8. Content Innovation “Reduce licensing friction using technology to create a new business-friendly online marketplace for re- use of creative content.” Projects • Copyright Hub * • Capability Hub Evolution • Data Rights Management • Metadata Hub
  9. 9. Big Data Science and the Value Chain ? Generation Transport Knowledge Output Value BIG DATA SCIENCE Straddles all four Dimensions of Focus
  10. 10. Data Analytics to Data Discovery ? data you know data you don’t know questionsyou’reasking questionsyou’renotasking Data Analyst Data Scientist Data Analytics Data Discovery DATA MODELLING Y  F( X, random noise, parameters) ALGORITHMIC MODELLING Y  [ BLACK BOX ]  X
  11. 11. Health is the next Frontier for Disruption PEOPLE CONDITION PROCEDURE REMEDY “£120 billion spent on healthcare in the UK ~ 7% GDP $1.2 trillion spent on healthcare in the US ~ 10% GDP” - WHO “$800 billion of value locked in health data 6 – 8% unlocked today” – McKinsey & Co. Cost Speedl Agilityl Capabilityl
  12. 12. WORDS OF WISDOM NOT ALL ROADS LEAD TO ROME TIME VALUE OF DATA KNOWLEDGE IS POWER I AM AN INDIVIDUAL
  13. 13. “Innovation without commercialisation is like a car without an engine” – Vince Cable

Notes de l'éditeur

  • WHAT - What is Big Data Science?
    WHY - Why is it needed?
    WHERE - Where is it being used?
    HOW - How will it evolve?
  • TIME VALUE - Yesterday’s data is less valuable than today’s data
    - Historical data is more valuable than just now alone
    POWER - Get from unknown unknowns to known unknowns or known knowns is powerful
    LEAD TO ROME - Exploring with no direct business impact is not a bad thing
    INDIVUDUAL - Treat every customer as an individual not an aggregate and analyse
    - Aggregate only individual insights

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