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UNLOCKING THE BIG PROMISE OF BIG DATA

UNLOCKING THE BIG PROMISE OF BIG DATA. What is big data?. Big data is the term for a collection of  data sets  so large and complex that it becomes difficult to process using on-hand database management tools or traditional data processing applications .

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UNLOCKING THE BIG PROMISE OF BIG DATA

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  1. UNLOCKING THE BIG PROMISE OF BIG DATA

  2. What is big data? Big data is the term for a collection of data sets so large and complex that it becomes difficult to process using on-hand database management tools or traditional data processing applications. -- From Wikipedia, the free encyclopedia

  3. Sources of big data

  4. Well-known challenges in pushing data out • Privacy • Fairness • Inclusiveness • Incentive alignment • Bureaucratic efficiency • Politicism • Interest-group dynamics • Capability building • Maintaining stability in staple services

  5. Registering resources Gun permit holders in Westchester County, NY Source: The Journal News in a Dec 2012 Freedom of Information Act Request

  6. Registering resources • Accurately accounting for resource value • Dynamically protecting privacy Gun permit holders in Westchester County, NY

  7. Web enablement

  8. New challenges in pushing data out • Finding kernels of value • Managing user quality of inference • Making insights actionable • Meeting the expectations of users • Developing capabilities for responding to escalating expectations • Protecting privacy dynamically

  9. Challenges in getting data in • Does the available data accurately represent the broader decision framework? • What questions can be addressed by the data? • Who should control datasets and the data that they generate? • How should organizations be designed to take advantage of big data? …

  10. Crowdsourcing

  11. Crowdsourcing • Evaluating the quality of suggestions • Developing criteria for choosing among legitimate alternatives • Implementing

  12. Open innovation platforms

  13. Open innovation platforms • Structuring the ask • Identifying true expertise • Building complex capabilities for integrating expert knowledge

  14. Social media

  15. Social media • Encouraging goal adhesion • What’s true?

  16. The tip of the iceberg

  17. Familiar issues in innovative governance • Assuring stability in the delivery of essential services

  18. Familiar issues in innovative governance • Assuring stability in the delivery of essential services • Enabling fair and effective process • Negotiating and aligning incentives • Narrowing scope for experimentation • Expanding scope to scale up subsequently

  19. Case study: Innovative governance at Banc One under Jamie Dimon • Formula: • Fix the company’s balance sheet • Cut costs • Hire talented managers • Motivate the workforce to act as owners rather than employees • First three months • $57m stock purchase • Follow-up list (one sheet of paper) • Middle office; keeps predecessor in office • Meetings: “show me the data you are looking at” • Capital markets: meet every day for 3 weeks • Balance sheet and earnings • Plan to realign incentives; incentives over bonuses but no comp cuts • 2000 and 2001 restructuring charges; cancelled dividends • Hiring; identifying his team (Michael Cavanaugh; Charlie Scharf) • Executive Management Report (EMR) • Risk analysis • Fix transfer pricing • Diagnoses the return on investment is lower than the cost of capital • NOT strategic vision, IT or detailed solutions; leave customer-facing personnel alone • Take the CFO position himself • Cancel vendor contracts • Cancel WSJ, gym memberships and exec perks

  20. Maturity Value creation Disruption Shakeout Fragmentation Time Case study: Failed governance at Kodak under five CEOs

  21. Big data and shared responsibility: innovative governance • Identifying climate-change hot spots • Remediating financial instability • Catching epidemics early • Expanding the capacity of public utilities • Focusing pharmaceutical research • Improving personal and community security • Forecasting (weather, migration, election results) • Improving education • Managing traffic and public transportation

  22. New issues of innovative governance • How can we use transparency to improve outcomes? What’s the right balance between transparency and hierarchical process? • When does advocacy promote fairness? • How do we evaluate competing organizational models for allocating decision rights? • What partnering capabilities are required for innovating effectively?

  23. Calls to action

  24. Calls to action • Politicization; dilution of public authority and responsibility • Embracing the emotionality of advocacy

  25. Tracking progress on public goals

  26. Tracking progress on public goals • Failing to attend to qualitative goals • Confronting disputes over the legitimacy of measures

  27. Public goods

  28. Public ‘bads' Access Congestion Investment Competition

  29. A gradual transition from driving on the left to the right

  30. The promise • Relieved congestion • Fairer and better access • Constructive competition • More efficient and effective investment

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