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Prashant Mathur, Sr. Director Marketing
The new 4 Ps everything. Customers want one on one dialogue with the
brands. So what are the challenges that marketers face in this
evolved marketplace -
Marketing other or about brands with each other. To the digital channels like
website, apps, e-mails, social media etc and physical channels
like the call centre, dealerships or relationship managers, with
By Prashant Mathur, Sr. Director Marketing, Hansa Cequity advancement of technology, the customer now has the option
of responsive channels as well, like the retail kiosks or telematics
which help brands reach customers proactively.
New technologies have put customers in the driver’s seat of Measuring Marketing Attribution – The challenge of attributing
the marketplace — giving them power over which brands the ROI (return on investment) correctly across the value chain,
sink or swim in the digital age. with the transitions discussed above have become even more
complex. The debates on how the number of likes or views are
connected to the business continue. With the communication
channels operating in silos and transaction channels not being
integrated, the market eco system is throwing up a lot of data the right set of performance measures. The right KPIs will help
but it is impossible to attribute the cause and effect rightly. get the measurement right, enabling right decisions. Many KPIs
of earlier era may not be relevant today, like many companies
In this dynamic eco system it is critical to give a method to are moving from measuring market share to measuring
the madness for brand success. It is imperative to have a data customer share. It is recommended to define macro and micro
driven customer experience strategy which the customer KPIs, depending on the size of your marketing budget and
should find attractive, engaging and rewarding for her to come sophistication of chosen media. The macro KPIs may focus
back to the brand repeatedly. We need to move from a noisy on the combined performance of your overall marketing and
push approach of bombarding customers with incentives and advertising ecosystem, whereas micro KPIs may focus on the
messages to a pull approach of creating opportunities that the specific performance of a particular channel or tactic.
customers will find rewarding, always. To enable this I would
like to recommend an aggregated 4 Point approach with due But while consumers operate in a multichannel world, the
respect and apologies to Dr.Kotler. The recommended new 4 metrics of their interactions are still siloed. As an approach
Ps are as follows – we have been measuring consumer activity in each channel
but not the entire consumer journey in an integrated manner.
Positioning There are many examples where the customer has given
thumbs up to experience with each individual channel but has
Today’s hyper competitive, undifferentiated landscape has given thumbs down to the overall journey. We need to capture
made positioning even more critical. The customers today customer data in real-time, across channels and devices for
don’t buy just a brand, they make choices basis multiple accurate interpretation of results and thereby right business
benefits they seek, many outside the core brand benefit arena. decisions.
In this age of the customer, brands need to co-create the brand
and product with customers, to truly demonstrate value and The rapidly changing marketing environment often feels like
customization. No wonder the size of the customer segments a moving target that’s impossible to hit. Yet the volume of
is changing from one core macro segment of millions to many data available today should make it possible to find metrics
micro segments of thousands to millions of segments with the and analytic opportunities that take advantage of unique
size of unity – one customer with one issue which she believes insights, are understood and trusted by the top team, provide
is unique. proof of progress and lay a foundation for more sophisticated
approaches to tracking marketing ROI.
It is the strength of positioning which will helps the brand
interact with each customer individually with a unique Program
proposition but will still remain one brand. One robust
positioning that can come up with millions of propositions. Now that our 3 Ps are in place, a robust positioning helping
us build a truly versatile platform with the right performance
Platform measures in place, it is now time to truly harness the power
of the fourth P, which is the program. Now communication
A robust positioning can help evolve a versatile platform – an need not be a multitude of disparate campaigns (ATL/BTL,
ecosystem around the brand where other complementary traditional vs digital etc) but a comprehensive program.
brands/services can also join in to create a much higher value
for the customer. The platform brings together the entire The starting point is understanding the end-to-end journeys
communication and the transaction landscape in a simple customers take to accomplish a task. These journeys are often
yet exciting manner. An example is Nike which, though in complex routes across websites, social media, stores, customer
the business of making sports shoes, created a platform of service, and myriad other interaction points. These journeys
health – an ecosystem of the website and health app linked should become the unifying principle for the business. This
to the shoes and the health wrist band. Now Nike literally
requires an integrated process, so that each part of the
had the pulse of the customer. The hospitals could create a
business delivers consistent, timely, and relevant content as
platform around care, on which pharma brands, equipments,
aids, accessories and other services can also participate.This part of a complete customer journey experience.
will help them move from the reactive and transactional
‘treatment’ relationship to the holistic and proactive ‘caring’ We should blur the lines and look at the entire program from
relationship. The platform can become the marketing asset the customer’s point of view who is communicating through
that a customer will proactively, excitedly and continuously channels basis not what she should do but basis what she
get pulled towards, for a dialogue. wants to do.
Performance It is my belief that taking this new 4Ps approach can break the
siloed thinking chains of our minds, and the brands and the
Once the platform has been created, it is imperative to define customers can do a tango to the beat of data.
Big Data
Solution Providers 2018
T
he gravitating pull Big Data has garnered in recent years is immense and the main reason being its contribution to
the modern technology world. Deep learning, Machine learning, Analytics, and solving complex problems through
computing. With Gartner predicting that Machine learning to be a top strategic trend, it is also true that machine learning
has set the base for preparing new data on the grounds of achieving the accuracy, and more and more predictability.
The market for Big Data expanding, the staggering numbers that are surfacing is the amplifying of the current number from $130
billion to $200 billion over the next two years. The Compound Annual Growth Rate (CAGR) is signifies that this trend is here to
stay for at-least a healthy amount of time. Within a year, the CAGR for Big Data has gone on to grow from 11.3% to 11.7%.
Open Source applications, Machine Learning, Predictive Analytics, Cognitive Technology, IoT and In-Memory technology will all
set the trend as enterprises are increasingly adopting the aforementioned trend at an alarming rate. The future is extremely
bright and it only indicates that more organizations are making that shift towards Big Data envisaging the potential and the
fruition it brings in a much deeper sense in the long run.
The CEO Views, by following all the relevant and the imminent trends and the potential Big Data can bring to organizations has
identified few such organisations who are not only proficient, but are also putting relentless efforts to devise new solutions
while being adoptive of innovative strategies. Below is the list of the “top 10 firms” offering efficient, effective solutions in the
field of Big Data.
ASI Data Science Dr Marc Warner, The firm specializes in data exploration, data science, predictive analytics
Welbeck Street,London Co-founders & CEO, and data engineering
asidatascience.com Dr Angie Ma, COO
Arcadia Data Sushil Thomas A provider of the first native visual analytics software to aid users through
San Mateo, CA Co-Founder & CEO scalability, flexibility and security on their drive towards gaining meaning,
arcadiadata.com real-time business insights
Databricks Ali Ghodsi Databricks unifies data science, data engineering and business to help firms
San Francisco, CA Co-Founder & CEO accelerate innovation and achieve faster time-to-value on course
databricks.com
DataRobot A provider of a machine-learning platform that helps data scientists build and
Jeremy Achin
Boston, MA drive accurate predictive models quickly and efficiently
Co-Founder & CEO
datarobot.com
Hansa Cequity Prashant Mathur Hansacequity adopts a data-driven strategy to help organizations build
Mumbai, India Sr. Director Marketing intelligent, intuitive and real-time customer relationships
cequitysolutions.com
Innovaccer Abhinav Shashank A provider of intelligent healthcare solutions for Healthcare systems, ACOs,
San Francisco, CA Co-Founder & CEO HIEs
innovaccer.com
Interana Greg Smirin A provider of a customer interaction platform through a GUI that helps
Redwood City, CA CEO organizational teams make real-time, important decisions anywhere,
interana.com anytime
Rapidminer Peter Lee RapidMiner helps in the unification of data prep, machine learning and
Boston, MA CEO predictive model deployment by offering a platform that enables the building
rapidminer.com of future data based advanced learning models
Veriluma Elizabeth Whitelock A builder of predictive intelligence software that enables organizations
St Leonards, NSW CEO mitigate risk, identify threat areas and thus make informed decisions
veriluma.com
Learn more about how this modern data-driven approach can help
you develop successful, actionable market strategies by illuminating
critical stakeholder intersections, influences, and intervention points.
855.380.4850
|12| April 2018 decisionresourcesgroup.com/journey
|13| April 2018
Top 10 Most Innovative Big Data Solution Providers 2018
B
ig data is no longer a speculation of things to come, of this type are critically needed, ideally with some uniformity
but integral to almost every aspect of every business and the abilities to share relevant aspects of the data through
in today’s economy. Collecting information is only an integrated analysis.
the beginning. Using it effectively will be the key
differentiator for a successful business. In the healthcare Information Analytics
sector, the significance and role of Big data cannot be
understated. In this industry, big data issues are pervasive – It is this analytic use of the data that provides the real promise
from basic research, through drug discovery, to clinical trials, of benefits from big data. With artificial intelligence methods
to post-market surveillance, and to all of patient care. The being implemented, there are more and more opportunities
article deals with general issues and challenges with particular to learn from the collected data, thus impacting business
emphasis on the regularly ignored critical problem of finding decisions and patient care. How can actionable knowledge be
key information in the huge volume of published literature. gained from the vast stores of data? The general approach is
to carry out directed analyses to address specific questions
Information Collection that you know you need to answer. For instance, historical
information on response to treatment regimens across a
The first challenge with big data in healthcare is knowing what huge number of individuals with different genetic and natural
information to collect. In short, the answer is everything’s history backgrounds theoretically could be used to define the
possible. Even if the need for a particular type of data is not best treatment option for any new patient. This is, of course,
obvious today, there are so many cases where we find ourselves a non-trivial problem and much work remains to truly exploit
ruing the lack of historical information that we only now know the value in the relevant big data.
would have been enormously useful. Of course, collection of
certain types of data in this field has the additional challenge of Improving the Use of Published Information
protecting privacy. Implementation of rigorous data collection
programs will yield great benefits. As an example, look at the Big data is not limited to patient data and some of these
Big Data Analytics program at MD Anderson which promises to other sources are woefully underutilized. Consider the vast
leverage patient data to obtain better outcomes. More efforts repositories of published health and medical information,
Simply put,
how do you
answer a
question that
you didn’t
know would
arise? assimilate. And, when those lists have so many irrelevant
results, users narrow down their query to get something of
interest on the first page. This process almost always excludes
critical information. The impact is huge. Almost 90% of clinical
including journal articles, patents, treatment protocols, and trials fail. In many cases, those failures could have been
much more. This published content serves as a critical guide avoided if previously published information had been found
to every aspect of the healthcare industry. 80% of drug targets and understood. In some cases, a decision might be made
are identified from published data; design of clinical trials relies to end a project in favor of other opportunities, and in other
on this knowledge store for designing the best protocols; and cases the design of the trial might have been more effective
patient treatment options are known to physicians through with better understanding of which patients to include or
these publications. Unfortunately, getting exclude.
the necessary knowledge from
this content historically The problem of utilizing the published literature is not just the
has been difficulties and time-consuming nature of traditional discovery
very difficult. methods. A more fundamental problem is uncovered by
Tra d i t i o n a l retrospective analyses that very often show that available
search engines published information a user could not have known to ask
provide lists about, would have had a critical impact on decision making.
of results that Simply put, how do you answer a question that you didn’t
are difficult to would arise?
B
ig Data has been one of those tech trends which has very known fact among the industry peers that a large number
constantly elevated in terms of growth and evolution. of data is still available in analog form. These data are stored
Perhaps after cloud, Big data has been the single in many amorphous forms such as images, documents, pics,
largest influencer for organizations across diverse historical records, hardcopies and across many other non-
sectors in terms of decision making and is identified as a digital formats. Unstructured data from various social media
propeller of growth. To substantiate its impact, by the end platforms such as facebook, twitter etc, are generated every
of 2018 the big data market is all set to witness a whopping second and this accounts to a massive number apart from data
market share of over $46 billion. from video surveillance and other digital trends. All these are
in the waiting and will be the next course of action orientation
Open Source frameworks such as Hadoop, NoSQL, and Spark for firms to leverage upon. This means that there will be
will see massive market expansion as more companies will abundant data volume providing more scope for processing
find the sweet spot to adopt such platforms going forward. the data. In the end it will be all about merging various data
According to a research by TDWI, more than 50% of sources and leveraging big data analytics to help firms make
organizations are planning to drive Hadoop clusters within smart-better decisions envisaging effective actions.
their production systems by the end of 2018, which means
that the overall rise of Hadoop will clock 32.9% in terms of Machine learning and AI `will continue to skyrocket as more
adoption each year. Big data in general alone is estimated to businesses will look forward to transform their business
drive great revenues for organizations and according to IDC, position. With more fraudulence and hacking related
the number is a staggering $203 billion. activities on the rise, use of fraud detection techniques,
Predictions from Experts pattern recognition, and other voice recognition techniques
by the impetus of AI will make organizations be braced for any
The demand for data visualization techniques will continue to impediments and be more smarter in the coming years.
rise as innovative and effective visual patterns will become the
norm and will continue to evolve. This will also give rise to The above are some of the predictions and usurping trends
effectively analyze patterns through data discovery with the which organizations can leverage upon and find more ways to
aim to uncover deeper business insights. The amalgamation adapt and thrive in the evolving marketplace. Going forward,
of data visual and data discovery techniques will only enable it requires a conscious understanding and planning of a
better processing of data sets unraveled through compelling company’s strategy and technology roadmap which should
visual models. also include healthy investments on the right technologies
while also being abreast of the challenges that the future days
Though the era of digitization has had a great leap, it is still a bring with them.
ata is to the modern world what oil was to the 19th science at the cutting edge of what’s possible, for instance
century – an extraordinary resource which can working with the UK’s Home Office to develop a machine
make winners of those who learn how to exploit learning model that can identify Daesh propaganda with an
it effectively. For businesses, data science offers incredible level of accuracy to enable video sharing websites
major advantages over other analytical techniques, to block it. In addition, we have conducted over 220 applied
for instance its predictive power, dynamic potential to learn machine learning projects for organisations that are achieving
and improve over time and the ability to integrate it into radical improvements in efficiency from relatively simple
standard business flows compared for instance with a graph or applications of AI. This is AI aimed at solving very specific
slide. But as with any technique, the quality of the output will business problems such as optimising my marketing spend
depend on the quality of the input, in this case the data, the (and keep learning from real-time information as customer
rate of dispersion of the techniques and the level of comfort behaviour evolves); how can I predict likely asset failure so I
with data science in employees, customers and the wider can replace it in advance; what's the optimal mix of products
public. to carry on a flight from London to Prague versus Madrid to
Copenhagen.
So far the applications of AI in business have tended to
concentrate on a few obvious areas of gain such as detecting For instance, ASI built an adaptive scheduling system for a bus
patterns in large data sets to identify long term trends or operator that predicted bus “bunching” - the old problem of
predict future demand. But, just as modern techniques can no buses turning up, then three arriving at the same time -
extract so much more from existing oil deposits than was the 38% better than the current system, enabling bus controllers
case even a few decades ago, modern data science techniques to intervene. Cue happier passengers, less crowded busses,
can reveal value even in smaller or incomplete data sets. And and big savings for the bus company. Over the next five years
while deployment varies by sector and data maturity, the we can expect much of the value from AI to come from the
majority of companies haven’t yet started on this journey. gains of relatively simple AI permeating the economy until its
At our own business, ASI, we have done research-grade data use is standard practice. For some companies the optimum
B
many such breakthroughs will only make the treatment and
y 2020, one third of attention time for the patients faster and much improved.
the digital world will be Digital platforms as discussed earlier
engulfed by data. It’s a
known fact that the vast
Data is helping which can help patients monitor
their heath remotely are on the
rise. From Blood sugar, weight, food
amount of data that is available
today is unstructured. Constant healthcare and medicine intake, such features
many a times prevent diseases and
churning, segmentation and
characterization of such data will
lead to Metadata, which is one of
professionals act as life savers to many patients.
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April 2018