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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.

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Presentation on theme: "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."— Presentation transcript:

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.data sets -- 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 Gun permit holders in Westchester County, NY Accurately accounting for resource value Dynamically protecting privacy

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

12 Open innovation platforms

13 Structuring the ask Identifying true expertise Building complex capabilities for integrating expert knowledge

14 Social media

15 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 Enabling fair and effective process Negotiating and aligning incentives Narrowing scope for experimentation Expanding scope to scale up subsequently Familiar issues in innovative governance

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

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 Politicization; dilution of public authority and responsibility Embracing the emotionality of advocacy

25 Tracking progress on public goals

26 Failing to attend to qualitative goals Confronting disputes over the legitimacy of measures

27 Public goods

28 Public ‘bads' Congestion Access 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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