11
Eric Little, PhD Chief Data Officer [email protected] Innolabs Summit London 2017 Why Data Is Becoming the Most Valuable Asset Companies Possess

Why Data is Becoming the Most Valuable Asset Companies Posses

  • Upload
    osthus

  • View
    212

  • Download
    1

Embed Size (px)

Citation preview

Page 1: Why Data is Becoming the Most Valuable Asset Companies Posses

Eric Little, PhD

Chief Data Officer

[email protected]

Innolabs Summit London 2017

Why Data Is Becoming the Most

Valuable Asset Companies Possess

Page 2: Why Data is Becoming the Most Valuable Asset Companies Posses

Slide 2

The Current Problems Most Companies Face

Data Silos

Incompatible instruments/systems

Proprietary data formats

Legacy architectures/tools

SME knowledge resides in people’s

heads

Little common vocabulary

Data schemas are not explicitly

understood (or non-existent)

Lack of common vision between

business units and scientists

2

Page 3: Why Data is Becoming the Most Valuable Asset Companies Posses

Slide 3

Handling Complexity

3

Scientific data is incredibly complex

Because the underlying science is incredibly complex

But do we use the right tools?

Page 4: Why Data is Becoming the Most Valuable Asset Companies Posses

Slide 4

User experience must be highly

simplified – consumer

expectations

Underlying tech is highly

complex

Complexity Does Not Mean For the User

VS.

Page 5: Why Data is Becoming the Most Valuable Asset Companies Posses

Slide 5

Metadata is key element for:

Data Management practices that

drive successful organizations

• Data Governance (#1 use)

• Data Stewardship

• Data Warehousing

• Master Data Management

• Enterprise Resource Management

• Customer Relationship

Management

• Business Intelligence

• Analytics

2/3 of recent survey respondents

Metadata is more important than

10 years ago

The Increasing Importance of Metadata

Source: “Emerging Trends in Metadata Management” Dataversity 2016 Report

By Donna Burbank and Charles Roe

Page 6: Why Data is Becoming the Most Valuable Asset Companies Posses

Slide 6

Align disparate data

Human Concepts (Lenses)

Context

Search is more important than ever

The Google Effect

Machine Readability

Increasingly useful

Automation

Standards

Business Users Are Increasing

Legacy approaches are too “techie”

Why Metadata Matters So Much

Page 7: Why Data is Becoming the Most Valuable Asset Companies Posses

Slide 7

A New Approach to Data Science

Page 8: Why Data is Becoming the Most Valuable Asset Companies Posses

Slide 8

Data Lakes are a rising trend

Preserves raw data

Reduces ETL processing

Longer shelf life

Internet of Things (IoT)

Machine-to-Machine communication

Relies on context

Data Variety continues to grow

Descriptions are critical

Link to Data Veracity (statistics)

Metadata Matters for Big Data

Page 9: Why Data is Becoming the Most Valuable Asset Companies Posses

Slide 9

AT OSTHUS LAB DATA SCIENCE IS CALLED

B IG ANALYS IS

STA

TIS

TIC

AL

SE

MA

NT

ICS

MA

CH

INE

LE

AR

NIN

G

RE

AS

ON

ING

Page 10: Why Data is Becoming the Most Valuable Asset Companies Posses

Slide 10

Why Big Data Is Moving To Big Analysis

It’s not about the IT problems anymore

IT is rapidly changing (moving beyond its traditional boundaries)

Human-centered Design is increasingly more important

Technology is dominating strategic business priorities (Deloitte “Tech Trends 2017”)

It’s about being able to use data, not simply retain it

Past RDB tech was built on storage techniques, not always retrieval

Data Warehouses – hard to repurpose the transforms

Data Lakes – often hard to do Schema-on-Read

Big Analysis combines metadata + statistics to build advanced lab informatics

Page 11: Why Data is Becoming the Most Valuable Asset Companies Posses

Connecting data, people and organisations

Learn more by visiting BigAnalysis.com