From big data to big profits : success with data and analytics / Russell Walker.Material type: TextPublisher: New York, NY : Oxford University Press, Description: xxvi, 283 pages : illustrations ; 25 cm.Content type: text Media type: unmediated Carrier type: volumeISBN: 9780199378326; 0199378320.Subject(s): Big data | Business -- Data processing | Management -- Data processingDDC classification: 658/.0557 LOC classification: HF5548.2 | .W2933 2015Online resources: Contributor biographical information | Publisher description | Table of contents only
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Includes bibliographical references and index.
Part I. Examining Big Data and its value to firms : What is "big data"? : Scale: how big is big? How big will it become? ; Data creation: a measure of how fast data is generated ; Data storage: a measure of scale and the data we keep ; Data processing: a measure of how much data we use ; Data consumption: a measure of our demand for data ; Implications of scale in Big Data; Exploratory data analysis: considering all of the data ; Data organization and metadata ; Variety : using more that numerical data ; Velocity: leveraging data within its window of opportunity ; Viral distribution of data: social networks take front stage ; Availability of data alters decisions for the better ; Where is Big Data being created? -- Benefits of scale and velocity in Big Data: the movement to now! : Overcoming complexity through scale in Big Data ; Yelp and TripAdvisor: case studies in the creation of value through Big Data ; Value of information: risk reduction ; Data velocity is the new normal ; Automated data creation: a necessary byproduct of scale and velocity ; Human interactions with the Internet of things: wearable devices : Mastering velocity and scale: creating advantages with Big Data ; Merging high velocity and high scale in data ; Getting to high return on Big Data ; Success in a high velocity and high precision data environment -- Big Data expands with passive data capture : Active data capture ; Example of passive data capture at work ; Passive data capture ; Mobile platforms expand passive data capture ; Passive data capture will change the driving experience ; Passive data capture adds value to agriculture ; Valuable features of passive data capture ; Passive data capture is in the home of the future ; Passive data capture is transforming health care ; Trade-offs are inevitable when passive data capture is collected and leveraged ; Passive data capture raises privacy concerns -- Novel measures in market activity: direct vs. indirect measurements : Direct measurement by active data capture ; From micro to macro ; Indirect measurement by passive data capture ; Measurement of assets by leveraging Dig Data and data inverting ; Media measurement by third parties ; Measurement of health care providers ; Considerations in the use of direct and indirect asset measurement -- Precision in data: new possibilities for mass customization and location-based services : New sensors and mobile phone systems enable precision in location-based data capture ; Social networks enable measuring the previously immeasurable ; Precision in measuring human performance is here now ; Precision agriculture is changing decision-making in powerful ways ; Precision medicine and genomics enable personalized care ; High precision in customer data leads to mass customization ; Digital platforms enable increased precision in data capture ; Precision in data is critical to unraveling complexity -- Data fusion: combining data to produce economic value : Data availability in the real estate industry ; Zillow: a real estate innovator ; History of Zillow: data opens opportunities ; Zillow focuses on data fusion and data productization ; Zillow's data product innovations ; Success with data breeds competition and innovation ; Data comes in all forms ; Lessons from Zillow ; Mint.com transforms personal finance ; Fusing of data at Mint.com creates novel data views for users and vendors ; Lessons from Mint.com --
Part II. Success in leveraging Big Data : Strategies for monetizing Big Data : Keep the data proprietary ; Data strategy: trade data to business partners for shared benefits ; Data strategy: sell the data product (to a host of possible clients) ; Stat strategy make the data available (and even free) to many users ; Novel data creation in advertisement on digital platforms ; Origins of the marketplace ; Overview of data strategies and monetization strategies ; Multi-sided business models form to monetize data from digital platforms ; LinkedIn.com creates Big Data ; Lessons from LinkedIn on multi-sided business models -- Monetizing Big Data through productization and data inverting : The origins of Netflix as a disruptive innovator ; Blockbuster: a history ; Netflix cultivates Big Data on customer preferences ; Netflix forms a data exchange with customers ; Big Data and analytics enable Netflix's success ; The future of Netflix: data wars have begun ; Lessons from Netflix -- Impact of analytics and Big Data on corporate culture and recruitment : The rise of the data scientist ; A portrait of a data scientist ; Graduate programs in data science are available ; Benefits of functionally assigned analytical teams ; Challenges of functionally assigned analytical teams ; Benefits of centralized analytic teams ; A new organizational model: chief data scientist ; Maximizing the impact of data scientists -- Stimulating innovation through Big Data : Leveraging and re-leverage data dynamically ; New data fuels innovation ; Digital platforms enable innovation ; New data and digital platforms can change markets ; Innovation in health care ; Innovation through data requires a data laboratory for data creation ; Nest and building new digital platforms for innovations ; Digital platforms and the Internet of things fuel innovation ; Stimulating innovation with Big Data challenges ; Experimenting with data at the enterprise -- Disrupting business models with new data from location-based services : Big Data possibilities from cellular networks ; Passive vs. active data capture in location-based services ; Leveraging location for data monetization ; Location-based services ; Trends in location-based services ; Foursquare: using customer location data to guide you where to go ; Opportunities created by leveraging location-based data ; Foursquare example: gaining precision in user location data ; San Francisco vs. New York ; Lessons from Foursquare ; Strategy implications of using location-based data -- Protecting data assets : Privacy concerns ; Tracking and monitoring ; Who owns the data?: Data ownership raises many questions ; Data ownership differs for actively shared and passively captured data ; Privacy in aggregate data views -- Future trends in Big Data : Increases in automation for data capture, creation, and use ; Cloud computing makes Big Data possible for most firms ; Flexible analytical tools make Big Data processing possible to more firms ; Mobile platforms drive location-based data and services to new levels ; Analytical talent will be in short supply due to high demand ; Aggregation of digital platforms will become more common ; Digital platforms will reduce market inefficiencies through new data ; Autonomy, not just automation, will become more mainstream -- Getting started: SIGMA framework for implementing a Big Data strategy: from Big Data to big profits : Sources of data ; Innovation ; Growth mindset Market opportunities ; Analytics ; Big Data to big profits diagnostic: scoring an enterprise with the SIGMA framework for Big Data readiness ; Getting started on the path from Big Data to big profits.