DATAREAD ALL

ABOUT BIG DATA

ECOSYSTEM

01 The value of data by Marco Bressan 03

INF0GRAPHIC

The keys of Big Data

04 CASE STUDY

Illustreets Carto DB

05 Practical examples of Big Data use

06 MASTERCLASS

DJ Patil02 How is the daily life of a data scientist

INNOVATION TRENDS SERIE

In a interview Marco Bressan says ldquoWe have a significant amount of customer data their obligations and what we are trying to do first of all is centralize this data so we can look at it and extract knowledge extract information and translate that knowledge and information into new services better services for our customers etcrdquo

Therefore ldquothe most important use of Big Data ( )is to extract information about our customers based on what they do Itrsquos not about doing a survey go out and ask the client what would he like but to really see for example how is he using his bank account what kind of transactions he makes what kind of life he has and try to give that customer a better servicerdquo

The value of data

01Marco Bressan Chairman amp CEO BBVA Data amp Analytics explains in this interview that their main goal

is to capture the value ( ) of the bankrsquos

In this sense the business intelligence ldquowe need in order to offer that better service is essential Besides that knowledge of customers allows us to better assess the client in relation to products such as credits or to prevent fraud for examplerdquo

See videoldquoTranslate that knowledge in better services for our customersrdquo

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In a interview Marco Bressan says ldquoWe have a significant amount of customer data their obligations and what we are trying to do first of all is centralize this data so we can look at it and extract knowledge extract information and translate that knowledge and information into new services better services for our customers etcrdquo

Therefore ldquothe most important use of Big Data ( )is to extract information about our customers based on what they do Itrsquos not about doing a survey go out and ask the client what would he like but to really see for example how is he using his bank account what kind of transactions he makes what kind of life he has and try to give that customer a better servicerdquo

The value of data

01Marco Bressan Chairman amp CEO BBVA Data amp Analytics explains in this interview that their main goal

is to capture the value ( ) of the bankrsquos

In this sense the business intelligence ldquowe need in order to offer that better service is essential Besides that knowledge of customers allows us to better assess the client in relation to products such as credits or to prevent fraud for examplerdquo

See videoldquoTranslate that knowledge in better services for our customersrdquo

INNOVATION TRENDS SERIE middot JANUARY 2015 middot wwwcentrodeinnovacionbbvacomen

Competing thanks to your knowledge of customers

In BBVA we have launched in Spain a pilot in which we are using the data of payments for small and medium businesses in order to get a better estimate of the risk of merchants when giving credits Thanks to this we are giving about 4 more loans because we can adjust our estimates know our customers better and give them more credits That is clearly a consequence of knowing our customers better

In an interview at the BBVA Innovation Center Marco Bressantold us that a very important part of what can be done with that knowledge with data is precisely see what new products what things can be offered to customers

In this regard he points out that one of BBVArsquos current projects involves aggregating data anonymizing it and sharing statistics ldquoFor example we are working with departments of Tourism to better understand the behavior of tourists when visiting cities their shopping behavior in order to improve the tourism infrastructurerdquo

In his opinion companies are working to understand ( ) for example the impact of events If I organize a party in a city if I host an important event a symposium a conference what is the commercial impact for the city ldquoAll these are products that are generated based on data owned by the bank but with utility beyond the walls of the bankrdquo

See video

+4

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How is the daily life of a data scientist

02

The daily life of a team working on data analysis can be defined as a multidisciplinary effort because it is very difficult for a person isolated in front of a computer to get all that information The key of the team is to have people working together in various disciplines

Not only technological statistical or mathematical knowledge is required but also scientists from different areas social geographic geopolitical economic

Although it may seem that we are working with a computer it is a question of mathematics and statistics ldquoIts fun because it is a job that above all exploits curiosity creativity exploration trial and errorrdquo explains Marco Bressan Chairman amp CEO at BBVA Data amp Analytics

The data scientist must have a scientific spirit because in his day-to-day the scientific approach is very important ldquoWe have to work with data get inside it and try to find patterns and information that may become relevantrdquo

See video

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The keys of Big Data

03INFOGRAPHIC

At BBVA Innovation Center DJ Patil has left us some tips for being a good scientific data and to know how they should be working methodologies of a team of Big Data and what are the guidelines for a great service to Data help improve our company and our customers

Best data products

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Be intuitive

Donacutet add training cost to the user

Create a methodologyfor teaching satisfaction

invoke a feelingand look for an action

Create an ecosystem

Share experiences and interact with people

feel human

like these products could be helped by people

INNOVATION TRENDS SERIE middot JANUARY 2015 middot wwwcentrodeinnovacionbbvacomen

Methodology in a work team

Converse data works best

Operate at the same field start the conversation aboutdata after everybody understands it

Detabe is important not only your opinion

Intuition and experience sometimesit is the best solution

Help to drive the conversation to a faster decision

INNOVATION TRENDS SERIE middot JANUARY 2015 middot wwwcentrodeinnovacionbbvacomen

Tips for a data scientist

High speed observation control and an intense curiosity

Find the rich data sources and break down the walls

Clean data try to separate the good and the messy websites

Questions on mind from the others

Donrsquot focused on the algorithms but in the problem

Storytelling is also importanttell a story and be able to communicate it

INNOVATION TRENDS SERIE middot JANUARY 2015 middot wwwcentrodeinnovacionbbvacomen

Illustreets the geospatial application with all the information you need to look for a house

04CASE STUDY

Good data analysis can become a great easy-to-use-tool with a good overview of the huge amount of available data This was the aim of the founders of project Illustreets whith CartoDB

Looking for a house is a major step in everyones life Manuel Timita and Katya Kovalwere worried about how difficult it is to choose a neighborhood to think beyond your current life They founded Illustreets a geoespatial aplication ( ) that helps to you make this complicated decision by providing an overview of the information required to find a house

INNOVATION TRENDS SERIE middot JANUARY 2015 middot wwwcentrodeinnovacionbbvacomen

Timita and Koval were faced with this issue in England where it is was very difficult to find information about the neighborhood even though there was a lot of available information This information was increasingly more available and could even be analyzed in an Excel document However viewing this data was not a very intuitive experience for the user

Given this situation the project founders realized that the information should be displayed on maps This was when they had to find a geospatial solution view for the problem

In fact aside from the salespurchase and rental data from the propriety finder Nestoria the project only uses information from the UK Open Government Data portal

This portal contains more than 9000 data sets from different departments of the UK government state institutions and local authorities British law grants free and perpetual access to this information

Looking for a house is a major step in everyones lifehellip

Timita y Koval faced this problem in England

Data sources

Illustreets also analyzes data from 15 databases belonging to the following institutions

bull Office for National Statistics

bull Department for Education

bull Land Registry

bull Ordenance Survey (boundaryand postcode data)

bull Department for Communities and Local Government

bull Police UK

bull Ofsted (school inspectiondata)

bull Department for Transport

bull Environment Agency

INNOVATION TRENDS SERIE middot JANUARY 2015 middot wwwcentrodeinnovacionbbvacomen

By doing a single search or clicking once on the map users can ( )

Faced with so much information Illustreets aimed to extract and analyze this data and make it accessible and useful by means of a geospatial application that displayed the information in an appealing and interactive fashion

The result is an effective tool ( )both for people who are looking for a house to buy or rent in a specific area and people who only want more information about their area

How to view the informationFor three months the Illustreetsteam researched and tested several proprietary and open-source mapping technologies and tools until they finally chose CartoDB and its tools CartoDBjs CartoCSS and SQL API This technology is now used to display the information requested by the users

In fact usability has always been at the core of the project and became the main testing factor since the team wanted to provide a good user experience

bull See information quickly when they hover the mouse over the selected area

bull Filter by the average sell and rental price to match a specific budget

bull Estimate travel time between two points

bull Access information such as the standard of living reported crime and school fees

INNOVATION TRENDS SERIE middot JANUARY 2015 middot wwwcentrodeinnovacionbbvacomen

Practical examples of Big Data use

05

Big Data and Data are two of the words most widely used nowadays in the innovation and entrepreneurship ecosystem However do we know about specific cases in which they have been used ( )

This article will present some of these practical examples in areas as diverse as sports politics or the economy

From BBVA to Obama from baseball to the Gay Pride Week in Madrid the use of data and its analysis to predict trends and behavior is here to stay

In recent years we find some striking examples of the use and analysis of Data and Big Data( ) that somehow serve to create new products to predict behavior and trends to optimize marketing actions etc The following are worth mentioning

Macys and its prices in real times

Macys is one of the most important retailers in the United States and stands out for its e-commerce Using the SAS Institututes technology it has managed to improve its revenue and the users experience Thanks to the speed of analysis and the reports obtained with this new technology they have

reduced the annual cost of analytics by 500000 dollars Today Macys is perfectly aware of the impact of its newsletters and notifications and has a better idea of its most satisfied customers of what they like and what they dont

Today the use of data enables it to segment its deliveries to the maximum possible extent and send fewer e-mails but with much greater impact and they have managed to reduce by up to 20 the number of customers unsubscribing Thanks to the use of an algorithm and demand and inventory control they can launch cross-offers adjust prices and offer discounts practically in real time for their 73 million items on sale

INNOVATION TRENDS SERIE middot JANUARY 2015 middot wwwcentrodeinnovacionbbvacomen

Ball games and millions of dataNearly everybody has heard of the film Moneyball Breaking the Rules (2011) if not for Brad Pitts role at least as an example of the use of Data It happened in the 2002 pre-season at the Oakland Athletics team of the US Major League Baseball The sports manager Billy Beanerevolutionized the history of the club and possibly of sports in general after recruiting a young economist Peter Brand who brought new ideas

Together they signed up undervalued but economically profitable players using a very different selection criterion The intuition and knowledge of the talent scouts are replaced by the conclusions of the analyses of statistics and figures accumulated when it comes to establishing the teams needs and the players that best meet those needs

Today we have many more cases where Big Data is used( ) in sports NBA team have implemented the use of data for planning strategies before each game And the NFL itself has a platform whose applications help the 32 teams to make the best decisions based on data analytics from the condition of the grass to weather conditions or information on each players time at university everything is recorded and everything can be used to draw different conclusions for example to

prevent player injuries Moreover it analyzes the preferences of fans thanks to its NFL Now application that offers them the possibility to create their own channel with varied NFL content fun videos preferred cheerleaders information by team or by player etc They also use NetApp to store all this data In this way they can establish the demands of fans and it also makes it easier to define marketing actions expand the market find the most appropriate partners etc

See video

See video

INNOVATION TRENDS SERIE

Obamas segmented campaign

After his first term of office the US president Barack Obama decided to use Big Data for his re-election in 2012 A hundred people worked in the campaigns analytics department 50 worked full-time at the central offices another 30 mobilized across the different headquarters in the country and 20 were focused exclusively on interpreting the data received

After a first analysis the campaigns efforts focused on three aspects registration (collecting data from committed voters) persuasion (effectively addressing hesitant voters) and electorates vote (making sure that supporters would vote) And for the first time the three most important teams of the election campaign (field digital and communication) worked with a strategy unified with the respective data of each one The driving force behind all this the smart platform used was HP Vertica

The most effective actions offered by this platform included collecting data on the field and providing very fast feedback via e-mails by the online team (with improved time and efficiency) or detecting the niches where TV advertising would work best cross-referencing voter data with demographic data and information on audiences advertising prices and

programs (thus improving the impact and segmentation) This their analytics Obamas team optimized communication and improved the response of Democratic voters and avoided wasting resources time and money on voters who did not support their party

BBVA Mobile WorldCongress y Turismo Madrid

BBVA has also conducted several Big Data tests where attention was also paid to the display of data to enable the information to be more understandable by inexperienced viewers The economic impact of the Mobile World Congress was measured in Barcelona in 2012 To this end data for the transactions made using credit cards was extracted both for the previous week and for the week when the event took place

See video

INNOVATION TRENDS SERIE middot JANUARY 2015 middot wwwcentrodeinnovacionbbvacomen

The results revealed the places days and times with more activity something for example that can help retail establishments reinforce their marketing and sales actions for similar events It can also help cities do the same with their tourist promotions

Another example is the study conducted by BBVA on the analysis of credit card usage in Spain during Easter week in 2011 in four sectors markets and food bars and restaurants fashion and gas stations

One last example is the work carried out together with the Madrid City Council Under the title Tourism Dynamics in the City of Madrid it analyzes the shopping behavior of tourists in 2012 Among the many results the study quantified the economic impact of Gay Pride in various areas of the city Shopping spending increased by 24 on the same week of the previous month It also provides other interesting data for example the tourists who spend the most what they spend their money on where they go etc

Data and Big Data are changing many things not only when it comes to making decisions related to shopping sports politics etc but also when creating new products innovating storing data developing viewing things It is a widespread trend that is here to stay

INNOVATION TRENDS SERIE middot JANUARY 2015 middot wwwcentrodeinnovacionbbvacomen

DJ Patil shows us how to use data and to create great products

06MASTER CLASS

DJ Patil VP Product of RelatelQ at Crunchbase is one of the most renowned data scientists in the world BBVA Innovation Center hosts a masterclass in which he explains various concepts about Big Data

Patil introduces us to data analysis work methodologies and talks about the growing interest in this mainstream phenomenon how to interpret dashboards the importance of predicting trends user experience practical cases the key concepts a data scientist must know etc A pleasant and helpful chat which covers diverse topics ranging from Angry Birds to Star Trek double pendulums hurricanes gurus nerds

Do you want to know more about the hottest profession right nowDo you want to get insights on one of the most demanded professions

Do not miss his masterclass

See video

INNOVATION TRENDS SERIE middot JANUARY 2015 middot wwwcentrodeinnovacionbbvacomen

DJ Patil the White Houses first chief data scientist ( )

The appointment of DJ Patil is a clear indication of the commitment of Barack Obama the US president to innovation and enterprise

The former vice president of product at RelatelQ ex Linkedin Greylock Partners Skype PayPal and eBay has ahead of him a daunting task that will begin with his participation in the administrations initiative on precision medicine aimed at using data to endow clinics with the best tools along with the knowledge and therapies to select the most effective treatments for each patient ( )

From now on Patil will work shoulder to shoulder with the US director of information and Digital Service with a single goal to use the new technologies ( )to serve US citizens better

Throughout Obamas time in office the US government has also taken major strides forward in innovation and enterprise Among other actions in this sphere 138000 databases have been opened to the public to facilitate the work of entrepreneurs and there have been improvements to access and services in the area of citizens digital personal data

INNOVATION TRENDS SERIE middot JANUARY 2015 middot wwwcentrodeinnovacionbbvacomen

wwwcentrodeinnovacionbbvacom

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