Big Data: Understanding How Data Powers Big Business

Preface xix     Introduction xxi     1 The Big Data Business Opportunity 1     The Business Transformation Imperative 3     Walmart Case Study 3     The Big Data Business Model Maturity Index 5     Business Monitoring 7     Business Insights 7     Business Optimization 9     Data Monetization 10     Business Metamorphosis 12     Big Data Business Model Maturity Observations 16     Summary 18     2 Big Data History Lesson 19     Consumer Package Goods and Retail Industry Pre-1988 19     Lessons Learned and Applicability to Today\'s Big Data Movement 23     Summary 24     3 Business Impact of Big Data 25     Big Data Impacts: The Questions Business Users Can Answer 26     Managing Using the Right Metrics 27     Data Monetization Opportunities 30     Digital Media Data Monetization Example 30     Digital Media Data Assets and Understanding Target Users 31     Data Monetization Transformations and Enrichments 32     Summary 34     4 Organizational Impact of Big Data 37     Data Analytics Lifecycle 40     Data Scientist Roles and Responsibilities 42     Discovery 43     Data Preparation 43     Model Planning 44     Model Building 44     Communicate Results 45     Operationalize 46     New Organizational Roles 46     User Experience Team 46     New Senior Management Roles 47     Liberating Organizational Creativity 49     Summary 51     5 Understanding Decision Theory 53     Business Intelligence Challenge 53     The Death of Why 55     Big Data User Interface Ramifi cations 56     The Human Challenge of Decision Making 58     Traps in Decision Making 58     What Can One Do? 62     Summary 63     6 Creating the Big Data Strategy 65     The Big Data Strategy Document 66     Customer Intimacy Example 67     Turning the Strategy Document into Action 69     Starbucks Big Data Strategy Document Example 70     San Francisco Giants Big Data Strategy Document Example 73     Summary 77     7 Understanding Your Value Creation Process 79     Understanding the Big Data Value Creation Drivers 81     Driver #1: Access to More Detailed Transactional Data 82     Driver #2: Access to Unstructured Data 82     Driver #3: Access to Low-latency (Real-Time) Data 83     Driver #4: Integration of Predictive Analytics 84     Big Data Envisioning Worksheet 85     Big Data Business Drivers: Predictive Maintenance Example 86     Big Data Business Drivers: Customer Satisfaction Example 87     Big Data Business Drivers: Customer     Micro-segmentation Example 89     Michael Porter\'s Valuation Creation Models 91     Michael Porter\'s Five Forces Analysis 91     Michael Porter\'s Value Chain Analysis 93     Value Creation Process: Merchandising Example 94     Summary 104     8 Big Data User Experience Ramifi cations 105     The Unintelligent User Experience 106     Understanding the Key Decisions to Build a Relevant User Experience 107     Using Big Data Analytics to Improve Customer Engagement 108     Uncovering and Leveraging Customer Insights 110     Rewiring Your Customer Lifecycle Management Processes 112     Using Customer Insights to Drive Business Profi tability 113     Big Data Can Power a New Customer Experience 116     B2C Example: Powering the Retail Customer Experience 116     B2B Example: Powering Small- and Medium-Sized Merchant     Effectiveness 119     Summary 122     9 Identifying Big Data Use Cases 125     The Big Data Envisioning Process 126     Step 1: Research Business Initiatives 127     Step 2: Acquire and Analyze Your Data 129     Step 3: Ideation Workshop: Brainstorm New Ideas 132     Step 4: Ideation Workshop: Prioritize Big Data Use Cases 138     Step 5: Document Next Steps 139     The Prioritization Process 140     The Prioritization Matrix Process 142     Prioritization Matrix Traps 143     Using User Experience Mockups to Fuel the Envisioning Process 145     Summary 149     10 Solution Engineering 151     The Solution Engineering Process 151     Step 1: Understand How the Organization Makes Money 153     Step 2: Identify Your Organization   s Key Business Initiatives 155     Step 3: Brainstorm Big Data Business Impact 156     Step 4: Break Down the Business Initiative Into Use Cases 157     Step 5: Prove Out the Use Case 158     Step 6: Design and Implement the Big Data Solution 159     Solution Engineering Tomorrow   s Business Solutions 161     Customer Behavioral Analytics Example 162     Predictive Maintenance Example 163     Marketing Effectiveness Example 164     Fraud Reduction Example 166     Network Optimization Example 166     Reading an Annual Report 167     Financial Services Firm Example 168     Retail Example 169     Brokerage Firm Example 171     Summary 172     11 Big Data Architectural Ramifi cations 173     Big Data: Time for a New Data Architecture 173     Introducing Big Data Technologies 175     Apache Hadoop 176     Hadoop MapReduce 177     Apache Hive 178     Apache HBase 178     Pig 178     New Analytic Tools 179     New Analytic Algorithms 180     Bringing Big Data into the Traditional Data Warehouse World 181     Data Enrichment: Think ELT, Not ETL 181     Data Federation: Query is the New ETL 183     Data Modeling: Schema on Read 184     Hadoop: Next Gen Data Staging and Prep Area 185     MPP Architectures: Accelerate Your Data Warehouse 187     In-database Analytics: Bring the Analytics to the Data 188     Cloud Computing: Providing Big Data Computational Power 190     Summary 191     12 Launching Your Big Data Journey 193     Explosive Data Growth Drives Business Opportunities 194     Traditional Technologies and Approaches Are Insufficient 195     The Big Data Business Model Maturity Index 197     Driving Business and IT Stakeholder Collaboration 198     Operationalizing Big Data Insights 199     Big Data Powers the Value Creation Process 200     Summary 202     13 Call to Action 203     Identify Your Organization\'s Key Business Initiatives 203     Start with Business and IT Stakeholder Collaboration 204     Formalize Your Envisioning Process 204     Leverage Mockups to Fuel the Creative Process 205     Understand Your Technology and Architectural Options 205     Build off Your Existing Internal Business Processes 206     Uncover New Monetization Opportunities 206     Understand the Organizational Ramifications 207     Index 209