Big Data Analytics: A Management Perspective (Studies in Big Data Book 21)

Annotation This book is about innovation, big data, and data science seen from a business perspective. Big data is a buzzword nowadays, and there is a growing necessity within practitioners to understand better the phenomenon, starting from a clear stated definition. This book aims to be a starting reading for executives who want (and need) to keep the pace with the technological breakthrough introduced by new analytical techniques and piles of data. Common myths about big data will be explained, and a series of different strategic approaches will be provided. By browsing the book, it will be possible to learn how to implement a big data strategy and how to use a maturity framework to monitor the progress of the data science team, as well as how to move forward from one stage to the next. Crucial challenges related to big data will be discussed, where some of them are more general - such as ethics, privacy, and ownership while others concern more specific business situations (e.g., initial public offering, growth strategies, etc.). The important matter of selecting the right skills and people for an effective team will be extensively explained, and practical ways to recognize them and understanding their personalities will be provided. Finally, few relevant technological future trends will be acknowledged (i.e., IoT, Artificial intelligence, blockchain, etc.), especially for their close relation with the increasing amount of data and our ability to analyse them faster and more effectively." This book is about innovation, big data, and data science seen from a business perspective. Big data is a buzzword nowadays, and there is a growing necessity within practitioners to understand better the phenomenon, starting from a clear stated definition. This book aims to be a starting reading for executives who want (and need) to keep the pace with the technological breakthrough introduced by new analytical techniques and piles of data. Common myths about big data will be explained, and a series of different strategic approaches will be provided. By browsing the book, it will be possible to learn how to implement a big data strategy and how to use a maturity framework to monitor the progress of the data science team, as well as how to move forward from one stage to the next. Crucial challenges related to big data will be discussed, where some of them are more general - such as ethics, privacy, and ownership - while others concern more specific business situations (e.g., initial public offering, growth strategies, etc.). The important matter of selecting the right skills and people for an effective team will be extensively explained, and practical ways to recognize them and understanding their personalities will be provided. Finally, few relevant technological future trends will be acknowledged (i.e., IoT, Artificial intelligence, the blockchain, etc.), especially for their close relation to the increasing amount of data and our ability to analyze them faster and more effectively About this Series 3 Acknowledgements 7 Contents 8 List of Figures 9 List of Tables 10 1 Introduction 11 Abstract 11 References 13 2 What Data Science Means to the Business 15 Abstract 15 References 27 3 Key Data Challenges to Strategic Business Decisions 28 Abstract 28 3.1 Data Security, Ethic, and Ownership 28 3.2 The Data Ecosystem 31 3.3 Initial Public Offering 31 3.4 Growth Strategies: Acquisitions, Mergers, and Takeovers 31 3.5 Emerging Markets 32 References 33 4 A Chimera Called Data Scientist: Why They Don’t Exist (But They Will in the Future) 34 Abstract 34 References 39 5 Future Data Trends 40 Abstract 40 5.1 The Internet of Things (IoT) 41 5.2 The Cloud 41 5.3 Application Programming Interfaces (APIs) 42 6 Where Are We Going? The Path Toward an Artificial Intelligence 43 Abstract 43 7 Conclusions 45 Appendices 47 Appendix I—Nomenclature for Managers 47 Appendix II—Data Science Maturity Test 49 Appendix III—Data scientist Extended Skills List 51 Appendix IV—Data Scientist Personality Questionnaire 52 Appendix V—Code of Professional Conduct—Instructions 55 References 56 Front Matter....Pages i-xiii Introduction....Pages 1-4 What Data Science Means to the Business....Pages 5-17 Key Data Challenges to Strategic Business Decisions....Pages 19-24 A Chimera Called Data Scientist: Why They Don’t Exist (But They Will in the Future)....Pages 25-30 Future Data Trends....Pages 31-33 Where Are We Going? The Path Toward an Artificial Intelligence....Pages 35-36 Conclusions....Pages 37-38 Back Matter....Pages 39-48