Tag: Big Data

The Not So Elusive Unstructured Data – Part 2

Historically people have been talking about data within the firewall, document management or collaboration information that is not structured, such as video, photos, documents and diagrams.

However now that we are at a tipping point: There is as much value in unstructured data in terms of what customers are thinking on the web and what businesses can derive from other organizations’ data

Good Analysts know how to identify, inventory and integrate unstructured data right along side the structure business data they have always had.

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Recently, BI and warehousing suppliers have been adding support for unstructured data management to their tool sets.

Many IT organizations have built their own platforms for converting unstructured data into structured records, for example, through knowledge management systems.

And new businesses are popping up to offer unstructured data collection, storage and analysis options that are integrated into the enterprise analytics solution.

Companies who get unstructured data will have a huge competitive advantage. DMAI can give you the training, consulting and analytics talent you need to stay ahead of the pack. #GrowMoreDMAI

The Ever Elusive Unstructured Data – Part 1

Per Wikipedia, Unstructured data (or unstructured information) refers to information that either does not have a pre-defined data model or is not organized in a pre-defined manner. Unstructured information is typically text-heavy, but may contain data such as dates, numbers, and facts as well.

This results in irregularities and ambiguities that make it difficult to understand using traditional programs as compared to data stored in fielded form in databases or annotated (semantically tagged) in documents.

As a result the traditional model of business analytics no longer works.

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Recent discussions about Big Data are showing that about 80-90% of data currently being captured by businesses is unstructured. Just two year ago it was 50% and five years ago about 20%. The boom is unstructured data storage is fundamentally changing business analytics as we know it.

Businesses across all industries are gathering and storing more and more data on a daily basis. But when it comes to assessing the benefits and challenges of big data, sometimes it is easy to overlook one key point: Most of the business information in use today does not reside in a standard relational database.

So how do we overcome these challenges?

DMAI has the answer!

#GrowMoreDMAI

Analytics Tip > Keep Your Data Clean

http://bicorner.com/2015/03/22/5-nuggets-from-the-big-data-driven-business/

Came across this interesting post on LinkedIn…

Database quality now has an unprecedented impact on the success of Big Data initiatives. To ensure that these databases are as productive as possible, Marketers must maintain good data hygiene.

Five steps for cleaner data:

1) Make sure your data entry team is keying in data accurately in the first place.  Make the data entry team a priority.

2) Incentivize your sales team, call-center squad and other customer facing employees to regularly request updated contact information and other data from the customers they encounter.

3) Use available software, such as Trillium, to streamline the process of cleansing, correcting and updating email and postal addresses.

4) Allow customers access to their records so they can help keep them accurate.  Consider offering discounts as an incentive for customers to participate.

5) Regularly contact customers, either via phone or email, to update records.  This approach is critical with the most important accounts.

Having clean data is very, very important.

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I have my admin team refresh my connection data on LinkedIn on a regular basis so our mailings lists stay up to date.

We also have audits of our client pipeline to make sure all relevant applicant data is captured for analysis.

Make sure you put some thought into how to keep your data clean!

Analytics is the application of using data and analysis to discover patterns in data. DMAIPH specializes in empowering and enabling leaders, managers, professionals and students with a mastery of analytics fundamentals.

DMAIPH is also a founding member of the Analytics Council of the Philippines and specializes in arming the Data-Driven Leader with the tools and techniques they need to build and empower an analytics centric organization. Analytics leadership requires a mastery of not just analytics skill, but also of nurturing an analytics culture. We have guided thousands of Filipino professionals to become better analytics leaders. Contact DMAIPH now at analytics@dmaiph.com or connect with me directly to discuss a uniquely tailored strategy to ensure you are the top of your game when it comes to Analytics Leadership.

The 3 V’s of Big Data: Volume, Velocity, & Variety

The value of big data isn’t in the amount of data it can process, but in the insight that big data analytics can yield. Big data has value because it can assimilate vast amounts of different types of data. The three V’s – volume, velocity, variety – are wbrainhat give big data its value, and what powers these three V’s is more and better data.

Source: im-techsolutions.com

Analytics is all about looking for patterns in data that give you actionable insights.

The Secrets of Money Ball Recruiting

http://youtu.be/6MStL5QIyCw

“There are rich call centers, with big budgets and huge recruitment teams. There are poor call centers with small budgets and just a few people. Then there is 50 feet of crap. And there is us.”

I conducted a Recruitment Analytics Training yesterday and shared one of my methodologies. Based on the movie (and book) Moneyball, I talked about how to be successful you need to find undervalued candidates who other call centers have passed on.

“If we try and play like Convergys in here (with our recruitment efforts), we will lose to Convergys out there (on the streets looking for talent)”.

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So we need to boil down the recruitment process to the one thing most important for our business in every single employee.

Some of my points:

  1. We spend too much time looking for trainable skills like Good English, Good Communicators and Good Interview Takers.
  2. We need to stop hiring job hoppers and people looking to move up without having paid their dues.
  3. The one skill set we cannot teach, that we need to start making our top priority… is dependability.
  4. Will they show up on time every day for work is the single biggest need we have.

So that’s the one personality trait we are placing at the top of our recruitment process. We need to probe and dig and research, to find out will they be someone who will show up for their shift everyday.

That’s our “get’s on base” metric like in MoneyBall.  We can’t help the customer if we are not at work ready to help the customer.

HR & Recruitment Analytics – The recruitment and retention of top talent is the biggest challenge facing just about every organization. DMAIPH is a leading expert in empowering HR & Recruitment teams with analytics techniques to optimize their talent acquisition and management processes. Contact DMAIPH now at analytics@dmaiph.com or connect with me directly to learn how to get more analytics in your HR & Recruitment process so you can rise to the top in the ever quickening demand for top talent.

A Few More Internet Research Tips

Just wanted to share a few more tips from my presentation on Mastering Internet Research:

Additional considerations to make before you start your search:

1. Where should you search? Google is not the only answer. There are over a trillion web sites out there and its growing every day. The IMDB is a much better place to get movie info then a google search.

2. How will you plan your search? Setting parameters is a big key to being a master internet researcher. Besides setting aside a certain amount of time, you can also give yourself boundaries on the number of sources you need and the type of content you want to find.

3. How will you evaluate the sources? Making sure the data you find is accurate is so key. Looking at reliable sources, validating data with a second reference and comparing your findings to published works are good ways to avoid bad data.

Some final tips to be a master internet researcher:

4. Use Find or Ctrl-F to Help Navigate Search Results– Often it is difficult to understand why a site is retrieved in a search. The Find or Ctrl-F feature will quickly allow you to search the text of a site and locate specific keywords.

5. When Using Wikipedia – View a Page’s History
All Wikipedia pages’ edits are saved, and the site makes it easy to view changes.

If you’re interested in seeing a page’s history, simply click the “View history” tab on the top right of any page. As well as seeing recent edits, you can click “Compare selected revisions” to see then-and-now versions of the content.

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Business Intelligence Buzzwords = Nosebleed

http://www.analyticbridge.com/profiles/blogs/kill-the-buzzwords-the-real-meaning-behind-popular-bi-terms

In the Philippines, “Nosebleed” is the common response for having to deal with a challenging problem, whether it be speaking a lot of English or trying to understand a complicated business problem.

When I read the attached article, it made me think of the number of times I get the Nosebleed response when I talk about analytics terminology.

In any talk I give on analytics, I make sure to always start with a definition and then build up a glossary of terms and definitions to make sure everyone is on the same page. I also like to show the audience that things aren’t usually as difficult as they seem, they just need to get past the nosebleed inducing buzzwords.

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Big Data is kinda scary because it sounds complicated and expensive.

Data Visualization is very broad and difficult to visualize if you aren’t familiar with the concept.

Data Scientist sounds like someone who doesn’t even exist in the Philippines yet.

But when you take a minute to step back and see that big data just means the data universe in your business that you are already using every day, that data visualization is charts and maps and graphs, and that a data scientist is really just the data guy you already have, then its not so nosebleed inducing.

Once you have the baseline to start from then you can go back and show the complexity of each buzzword without losing the audience.

If you or your business is suffering from nosebleed because the buzzwords in your analytics solutions sound too expensive and too complicated, then give me a shout out. I can help simplify it for you.

My Primary Professional Dream > Give A TED Talk!

I came across this awesome TED talk about a big data analysis project to determine what country does the most good in the world.

I imagine this is the process that Simon went through to go from a general curiosity to giving an enchanting TED talk.

I have a question. What country does the most good in the world?

I identify the data I need and then I look for that data.
Some of it already is being gathered and is easy to find. Some data I even have to create through surveys and research projects.

I pull together all the data and start to inventory it. To put it into smaller chunk for both analysis and story telling.

As I analyze the data I see many things I expected to see, but I make also lots of discoveries I didn’t expect.

I share the data with other experts to fine tune the story I want the data to tell.

I then am ready to share the data with the intended audience, in this case the world!

Some day soon, that is my dream. To share some amazing data and use it to tell a story worthy of a global audience!

By the way, his web site is http://goodcountry.org/

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Very, very cool stuff!

Outsourcing Tip > BPO Contract Negotiations: Learn About Both “the Big Picture” and “the Fine Print”

This is the title of a seminar I put together awhile back for small and medium-sized BPO owners, executives and managers. The objective was to address the latest business challenges in the BPO Sector as related to contract negotiations.

We engaged several practitioners to come up with an approach to empower the audience with new and innovative ways to optimize their contract negotiation process.

Here are some of the highlights:
• The biggest challenge that comes with contract negotiations is generally around money. A well thought out and detailed business proposal is key in mitigating misunderstandings and conflict around the cost of outsourcing work.
• The smoothest transitions are generally ones managed by a seasoned project manager, but if you don’t have one, we outlined what needs to be done.
• We also talked about how process mapping can lead to process improvement and how to account for that in the contract.
• Using models to show base, best and worse case scenarios is key to making sure the contract will not become a negative business hindrance to either party.
• We will discuss the importance of clearly and consistently engaging and communicating with key players both internally and with overseas partners.
• Many time negotiations begin informally and just involve the principles as they have a handshake agreement.
• Service Level Agreements and Production Quotas should either be included in the contract or in an addendum that clearly outline expected results.
• If pricing is depending on meeting certain metrics, its imperative that both the goals and how the goals will be measured and reported are included in the contract.

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At the end of the workshop, attendees should have walked away with the following items of knowledge:
1. An appreciation for all the work that needs to happen before the actual contract is signed between the business and the overseas partner.
2. Several tips on how to make sure the contract is an ironclad as possible in terms of anticipating challenges.
3. Several tools and resources to help them in preparing the BPO contract.
4. A checklist of things to not forget to account for in the actual contract language itself.

So, when it comes to setting up an outsourcing partnership, don’t fall victim to charging ahead without a clear idea of what you need to happen in the contract negotiations process to ensure success!

Analytics Outsourcing – DMAIPH has successful set up Filipino analytics teams for over a dozen U.S. based businesses. Offering both virtual and office based teams that specialize in problem solving using data, new technology and analytics techniques is our strength. Finding and empowering analytics talent is increasingly challenging, but we have it down to a science. Contact DMAIPH now at analytics@dmaiph.com or connect with me directly to learn more about how to set up an analytics-centric team in the Philippines.

Philippines Analytics Outlook 2014 (4 of 4): Challenges of Hiring Big Data Talent

http://itstaffing.matrixresources.com/opportunities/tech-trends/challenges-hiring-big-data-talent

One of the biggest challenges I see in the Philippines right now is finding the right mix of talent and work ethic in analytics candidates. The core personality trait behind any good analyst is curiosity… the drive to find answers to business questions. The personality trait is however not one that is truly valued within the Filipino business culture. Asking questions can easily be perceived as a threat to authority and to the status quo.

When you look at the current state of things in the U.S., you can easily extrapolate that its even more severe in the Philippines. As the article in the above link demonstrates there is a significant challenge of hiring analytics talent, especially those who can manage and analyze big data.

“Over 300 professionals at the IT executive, director and management levels pinpoints what employers endure while trying to execute big data initiatives and recruit the IT talent needed to handle these initiatives.
• 88% of companies say they are facing a shortage of IT talent able to successfully execute big data initiatives.
• 39% say a lack of available IT talent is negatively affecting their ability to make data-driven decisions, while
• 36% are falling behind in their big data initiatives
• 35% have people in place who are unqualified for the job.
• Only 4% of companies rate the alignment of existing IT employees’ skill sets with big data initiatives as excellent
• while 56% rate them as fair or poor.”

In order to overcome these challenges business are taking steps to recruit new talent or retain existing talent for big data initiatives. The most common solution is to send current employees to external training programs.

External training is easier to implement than starting up internal cross training with other departments or search other departments within the organization for talent. This leads to pirating talent from competitors, which is very unhealthy for the industry as a whole.

So, it you want to stay ahead of the game and find talent that can keep you on the forefront of analytics, the best solution is to engage DMAI to either come in and train your team or send them to one of the DMAI public trainings coming soon.

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