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    Part A:Big Data: Presenting PPT On "Big Data Analytics: An Expert Interview With Bipin Chadha"

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    Big data and the Internet of Things (IoT) can create significant business value but also pose challenges. Big data refers to large and complex datasets that are difficult to analyze due to their size, complexity, and rate of growth. IoT connects physical devices to networks and computing systems, enabling data collection. Potential areas where IoT can create value include interoperability, data analysis, business-to-business applications, and generating an estimated $3.9-$11.1 trillion economic impact annually by 2025. However, both big data and IoT raise privacy, security, and ownership issues that must be addressed. Standards and trust are needed to fully realize their benefits.

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    Part A:Big Data: Presenting PPT On "Big Data Analytics: An Expert Interview With Bipin Chadha"

    Uploaded by

    sachin
    48 views22 pages
    Big data and the Internet of Things (IoT) can create significant business value but also pose challenges. Big data refers to large and complex datasets that are difficult to analyze due to their size, complexity, and rate of growth. IoT connects physical devices to networks and computing systems, enabling data collection. Potential areas where IoT can create value include interoperability, data analysis, business-to-business applications, and generating an estimated $3.9-$11.1 trillion economic impact annually by 2025. However, both big data and IoT raise privacy, security, and ownership issues that must be addressed. Standards and trust are needed to fully realize their benefits.

    Original Description:

    Big Data

    Original Title

    Big Data & IOT (Group-01)

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    Big data and the Internet of Things (IoT) can create significant business value but also pose challenges. Big data refers to large and complex datasets that are difficult to analyze due to their size, complexity, and rate of growth. IoT connects physical devices to networks and computing systems, enabling data collection. Potential areas where IoT can create value include interoperability, data analysis, business-to-business applications, and generating an estimated $3.9-$11.1 trillion economic impact annually by 2025. However, both big data and IoT raise privacy, security, and ownership issues that must be addressed. Standards and trust are needed to fully realize their benefits.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    48 views22 pages

    Part A:Big Data: Presenting PPT On "Big Data Analytics: An Expert Interview With Bipin Chadha"

    Uploaded by

    sachin
    Big data and the Internet of Things (IoT) can create significant business value but also pose challenges. Big data refers to large and complex datasets that are difficult to analyze due to their size, complexity, and rate of growth. IoT connects physical devices to networks and computing systems, enabling data collection. Potential areas where IoT can create value include interoperability, data analysis, business-to-business applications, and generating an estimated $3.9-$11.1 trillion economic impact annually by 2025. However, both big data and IoT raise privacy, security, and ownership issues that must be addressed. Standards and trust are needed to fully realize their benefits.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    of 22

    Part A :Big Data

    Presenting PPT on “Big Data Analytics: An expert


    interview with Bipin Chadha”

    Submitted by:
    Abhishek Kumar X001
    Faiz Ahmad X007
    Naresh Kumar X014
    Sachin Deo Kumar X021
    Big Data Set: A brief Introduction

    • Definition:
    • Hard to filter or compress down to a size where it can be
    meaningfully analyzed with the resources and tools available.

    • Typical features that make a dataset hard to analyze are


    -size
    -complexity
    -heterogeneity
    -structure
    -ratio of the rate of data arrival to decision time, and
    -noise.
    Big Data Analytics:

    • It is the strategic enabler that turns Big Data into meaningful


    decisions and actions.

    • It refers to the tools and methods which helps in understanding the


    customers, their need and develop course of action.

    • Improves performance and compete against competitors.

    • Ultimately, Value for customer as well as firm is created.


    Why “big data” is “really a big deal” for businesses?

    • Big Data is Critical for decision making.

    • Modern businesses are taking data driven decisions and algorithm.

    • Big data analytics helps in identifying and predicting specific


    customer needs.

    • Key enabler for Business Intelligence.

    • Business value from Big-Data.


    Relationship Between Business Intelligence & Big Data:

    (A).
    (C) .Take
    Understand (B). Take Data
    Smarter
    your business from “Big
    Business
    and Data” Source
    Decisions(BI)
    environment
    Business Value from Big Data:

    Large Member Base(Stakeholders)


    (Interact through various channels)

    Big Data Generated


    (Big Data Analytics: Individualised advice and services)

    Business Value Created


    (Increasing Efficiency and Reducing waste effort)
    Business Value from Big Data(Standard Model):
    How Data Driven Decision Taken at USAA?

    • USAA’s mission is synchronised with using Data Driven


    Decisions & Strategy
    • Top boss promotes taking Data Driven Decisions.
    • Data Driven Decision taken at Operational as well as
    Strategic Level
    • Data Driven Experiment-To understand their customer and
    needs
    • Information related to security and privacy of customers are
    top priority in the company
    How CMO, CFO & CDO work-together as a partner
    and how it impacts the organizational performance
    and culture at USSA?
    • It’s a natural outcome of systematic approach and member focus.

    • Optimum efficiency only be reach when Marketing Head, Fiancé


    Head and data Scientist work together.

    • Great Marketing job, Right person(Customer), right price altogether


    can only do wonders. (i.e. Without pricing, marketing target can’t be
    achieved).

    • All individual efforts are to be synchronised to perform as a team.


    • Provide value to the customers
    Major Risks and Challenges with Big Data:
    (Particularly to individual rights, privacy, identity, and security)

    - Collection of data poses significant risks and challenges


    in terms of ethics, privacy, and security.

    - Right now people are too cavalier about posting their


    data all over the Internet.

    - The challenge right now is to make sure that


    organizations do not misuse this data and try to foresee
    and prevent abuses of data.
    Major trends and advances in the area of Big
    Data and Big Data Analytics:
    • We are still in early stage of Big Data Analytics and AI.
    • Focus on shifting from Big data to Big Science.
    • AI will seep into many devices that we use today without AI.
    • Increased automation will eases the life.
    • There will be issue on Big Data because of its exponential growth of
    data.
    • People will demand transparency.
    • Criminals, Hackers, Fraudsters will continue exploiting the technology
    for their personal gain.
    • Based on Bid Data Analytics and AI, predicting the future will not be
    always true.
    PART B: Internet of Things (IOTs)

    Contents are based on the article “ The Internet of Things: Mapping The
    Values Beyond the Hype: by McKinsey Global Institute”
    Internet of Things :A brief Introduction

    • Sensors and actuators connected by networks to computing system

    • These systems can monitor or manage the health and actions of


    connected objects and machines.

    • Connected sensors can monitor the natural world, people and


    animals.

    • Ability to monitor manage objects in the physical world electronically

    • IoTs can create real economic values captured by companies, people


    and economies.
    Potential Areas of IoTs (for Value Creation):
    1. Interoperability
    2. Data Analysis
    3. B2B application
    4. Economic based potential market

    Source: Based on the research by Mckinsey.


    Physical Settings and types of Opportunities of IoTs:

    Settings:-
    • Vehicles
    • Homes
    • Offices
    • Factories
    • Retail Environment
    • Websites
    • Human
    • Outside
    • Cities Figures in red with $ sign is expected economic impact in 2025 against each setting)
    Key Findings of the McKinsey Research:

    • Interoperability among IoT systems is required to capture 40 percent


    of potential values
    • Most of the data collected today are not used at all, and data that are
    used are not fully exploited
    • The amount of IoT value that can be realized in developing
    economies is comparable to that of advanced companies
    • B2B applications of IoT have greater economic potential than
    consumer applications
    • Users of IoT technologies will capture most of the potential value
    over time
    • IoT will change the bases of competition and drive new business
    models for user and supplier companies
    Estimated potential impact of IoT applications in
    2025

    • Research area was more focused on wide range of application types


    including operations, sales enablement, product development, safety
    and security.

    • Economic impact could be from $3.9 trillion to $11.1 trillion per year
    in 2025(These figures are based on 6 settings, actual figures may
    vary).

    • Factories settings would have greatest potential economic impact


    from IoT use $3.7 trillion per year in 2025 followed by Cities settings
    of $1.7 trillion per year in 2025.
    Advantages and Disadvantages of IoTs:
    Advantages:
    • Perfect for Data-driven decision making organisation or people
    • Optimise the performance of systems and processes
    • Save time for people and businesses
    • Reduce Costs
    • Create Innovative Services
    • New Revenue Stream
    • Enhance communications
    • Improve quality of life
    • Other values captured by customers and consumers

    Disadvantages:
    • Data Loss threat
    • If err-algorithm used, results can be reversed.
    Enablers and Barriers of IoTs:

    (A) Enablers:
    -Technology Development, Execution and R&D.
    -Consumers need to trust IoTs based system
    -Data-Driven approach by companies
    -Public Policy (i.e. Self-Driving car in India)
    -Interoperability
    -Organization and Talent

    (B) Barriers:
    -Data-Security
    -Privacy and Confidentiality
    -Intellectual Property(There may be conflict among ownership of data generated by IoTs system, especially from a group
    of IoTs appliances being used at one platform)
    Common examples of IoTs:
    • Self-driving cars
    • Fitness bands to monitor physical activity
    • Internet connected devices
    • Manufacturing, Oil and Gas company Work Sites
    • Smart-Cities
    • Smart-Watch
    • Smart Gazettes etc.
    One Typical Example of IoTs in an Opencast Mines:
    Thanks

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