Though 85% of global companies are trying to be data-driven, only 37% of that number say they’ve been successful.
In this Information Generation, leaders are being pressed to rewrite the rules for how they organize, develop, manage, and engage their 21st-century businesses. More precious than oil or gold, data can prove to be the crucial x-factor between gaining a competitive edge and facing extinction.
Anomaly detection and data imputation within time series
Those Who Rule The Data, Rule The World
1. Those Who Rule The
Data, Rule The World
Presented by Sharala Axryd,
Founder and CEO
The Center of Applied Data Science
2. “Data, like oil, is a source of power.
And those who control it are
establishing themselves as masters
of the universe, just as oil barons
did 100 years ago.”
– Bernard Marr, Technology Expert
3. Let’s look at some success
stories (and cautionary tales)
4.
5.
6. 50.9% Global
Market Share
Q4 2007
Nokia reports a
30% fall in 2008
profits, while
Apple enjoys
sales growth of
327.5%
39.3% Global
Market Share
Q1 2009
37.8% Global
Market Share
Q2 2010
27.6% Global
Market Share
Q1 2011
12.2% Global Market Share
Q4 2011.
Apple - 23% Global Market
Share Q4 2011
Samsung – 27.5% Global
Market Share Q4 2011
2.8% Global
Market Share
Q1 2013
2007: The iPhone is launched and changed the world forever.
2009: Slow reaction to rise of iPhone and Android devices results in Nokia’s first loss in more
than a decade.
2010: Newly appointed ex-Microsoft exec Stephen Elop cuts 1,800 jobs.
2011: Strategic partnership formed with Microsoft to compete with Apple and Android platforms.
More jobs cut as Nokia is overtaken by Samsung and Apple despite launching new smartphones.
2013: Nokia’s Device and Services business is sold to Microsoft for €5.4 billion. Nokia branding
phased out on all future flagship devices before no longer developing smartphones.
7.
8.
9.
10. Data is the fuel for AI,
so organizations need
to prepare now to
store and manage
even larger amounts
of data for AI
initiatives
11. Are You Doing it Right?
Five Questions for your Data
Journey
1. What Data Do I Have?
2. How Do I Know If I Have Big Data?
3. Do I Have the Talent & Skills to Implement the Solution?
4. Will This Big Data Solution Work with What I Already Have?
5. What Is My Definition of Success?
13. Most significantly, the areas for data improvement (such as quality,
usability, and accessibility) required only very small upgrades to produce
financial gains. How much?
10%
14. Increase its revenue by
more than $US2 billion
a year by increasing
data usability by just
10%
Increase return on
investment by 0.7%
(which equates to
$US2.87 million of
additional income) by
increasing both the
intelligence and
accessibility of data by
just 10%
Increase return on
equity by 16% by
increasing both the
quality of data and the
ability of salespeople to
access it by just 10%
By leveraging data, the average company could:
15.
16. Imagine data as your ingredients and data
scientists are the chefs.
If you have ingredients that are missing, wrong or
rotten ingredients then you will struggle even if
you have good data scientists.
The answer is always in the data... doesn’t matter
how good the data scientists are.
17. Data Cleansing
• Removes major errors
and inconsistencies
• Ensures efficiency
• Fewer errors
• Map the different
functions of your data
18.
19.
20. $USD3.1 Trillion Cost
of Bad Data to U.S
Businesses Each Year
25% Rate of
Consumer Data
Decay Annually
40% Number of Leads
That Contain Bad
Data
66% Revenue Boost
Seen By
Implementing Data
Quality Best Practices
Cost of Bad Data
23. Become a Data-Driven Organisation
These organizations produce real business value as proven in a McKinsey
report* surveying companies with these characteristics. The McKinsey report
refers to these organizations as Data-Driven Organizations.
In the McKinsey report, Data-Driven Organizations are demonstrated to be:
23x more likely to acquire
customers
6x more likely to
retain those
customers
19x more likely to
be profitable as a
result