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Data Journalism (big data)
And we’re back. Parts one and two of this three-part blog series discussed six of the significant, and largely continuing, trends that will shape Business Intelligence (BI) product development and purchase decisions throughout 2012. And, in the words of iconic English rock band Queen, The Show Must Go On .
Over the last few days, O'Reilly's Alex Howard (aka @digiphile ) has published a series of very informative interviews with data journalists. As journalists get more and more sophisticated in collecting, collating, analyzing and visualizing data, their learnings are really useful for anyone working with data. The interviews contain lots of great insight, very useful information, and interesting links to more resources and examples, and I encourage you to read them in their entirety (see links below). However, most interesting to me are the tools that the interviewees mention and which Alex calls the "Newsroom Stack".
To succeed at Six Sigma or any process improvement effort, you'll often have to analyze and summarize text data. Most companies have lots of transaction data from "flat files" like the one shown below, but because the data consists of text and raw numbers, they sometimes have a hard time figuring out what to do with it. These examples use Excel along with QI Macros for Excel: To summarize and analyze this data, you will want to learn how to use Excel's PivotTable tool. In past incarnations it was known as Crosstab (for cross tabulation).
GitHub is designed for collaborating on coding projects. Nonetheless, it is also a potentially great resource for researchers to make their data publicly available. Specifically you can use it to: store data in the cloud for future use (for free), track changes , make data publicly available for replication, create a website to nicely present key information about the data, and uniquely: benefit from error checking by the research community. This is an example of a data set that I’ve put up on GitHub.
Big data isn’t just about multi-terabyte datasets hidden inside eventually-concurrent distributed databases in the cloud, or enterprise-scale data warehousing, or even the emerging market in data. It’s also about the hidden data you carry with you all the time; the slowly growing datasets on your movements, contacts and social interactions. Until recently, most people’s understanding of what can actually be done with the data collected about us by our own cell phones was theoretical. There were few real-world examples. But over the last couple of years, this has changed dramatically.
by Thomas C. Redman and David Walker | 3:28 PM January 25, 2012 Data-driven managers, departments, and organizations have always enjoyed distinct advantages. The data-driven have crafted the best strategies, uncovered wholly new markets, and kept operational costs low.
Brian Gentile is the CEO of Jaspersoft , a commercial open source business intelligence software company. Folllow him @BrianG_Jasper With the amount of hype around Big Data it’s easy to forget that we’re just in the first inning. More than three exabytes of new data are created each day, and market research firm IDC estimates that 1,200 exabytes of data will be generated this year alone. The expansion of digital data has been underway for more than a decade and for those who’ve done a little homework, they understand that Big Data references more than just Google , eBay , or Amazon -sized data sets.
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One of the things about teaching Computer Studies is having data sets for students to run with their program to get the types of results that you should.
January 26, 2013
When it comes to predicting the future, Chartbeat's CEO Tony Haile thinks you're awful. At the Mashable Media Summit , Haile spoke about the importance of real-time data and what your business should be doing with that information. "The more we think we know, the more expert we believe ourselves to be," says Haile, "and the more likely we are to trust our judgment when we shouldn't and get things wrong." SEE ALSO: The Return of Real-Time Social Environments Haile talks about replacing complex future predictions with simpler ones for right now, and looking at data as an environment instead of a generated report. The Mashable Media Summit in Pictures
A goal of knowledge management over the years has been the ability to integrate information from multiple perspectives to provide the insights required for valid decision-making. Organizations do not make decisions just based on one factor, such as revenue, employee salaries or interest rates for commercial loans. The total picture is what should drive decisions, such as where to invest marketing dollars, how much to invest in R&D or whether to expand into a new geographic market.
Big data: The next frontier for innovation, competition, and productivity | McKinsey Global Institute | Technology & InnovationThe amount of data in our world has been exploding, and analyzing large data sets—so-called big data—will become a key basis of competition, underpinning new waves of productivity growth, innovation, and consumer surplus, according to research by MGI and McKinsey's Business Technology Office. Leaders in every sector will have to grapple with the implications of big data, not just a few data-oriented managers. The increasing volume and detail of information captured by enterprises, the rise of multimedia, social media, and the Internet of Things will fuel exponential growth in data for the foreseeable future.
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Cost savings are always key drivers of new initiatives. And in today's healthcare industry, as priorities continue to shift and pressure is added to increase revenues and improve outcomes, one element could be a key player in making it all happen: big data. "We think it's going to separate winners from losers in many markets over the next five years," said Russ Richmond, MD, CEO of healthcare solutions and consulting company Objective Health. "The institutions that are capable of first understanding where the market is going … are going to have tremendous advantages over the ones who can't or won't do this.