Big Data expert David Savlowitz from Competitive Analytics discusses the growing importance of data in business and why most companies under-utilize the information they have available to them.
David takes listeners through real examples of big data helps improve business performance, from increasing sales prices to reducing the margin of error on predictive auction prices by 4x.
He explains why data preparation is actually the most important step of data analytics and how incorrect preparation leads to worthless output.
Finally, our hosts ask David about the possible misuse of data and how to know if you are using “bad” data as opposed to the “right” data and what effect the “Internet of Things” is going to have on big data for companies moving forward.
David’s Company - https://competitiveanalytics.com/
How are people using data analytics to improve their businesses? – 2:51
How a real estate company didn’t realize the value of the data they were sitting on – 4:08
How do you take millions of records and make them relevant, decipherable and presentable to your company? – 7:07
Which is better to use: internal or external data? – 9:30
The “5 Vs of Data” and why data preparation is the most important step – 10:17
How the “Internet of Things” is going to shape big data moving forward, which part of a company is going to be responsible for it? – 17:32
How do we know that individuals are not misusing big data? – 25:49
Why responsibility is crucial in the use and analysis of big data – 32:05
Moneyball 2.0: how data is still shaping baseball over 10 years later – 36:07
How do you spot if you are using bad data to make future predictions? – 40:45
How the public can play a role in converting data into useful applications – 43:10
An example of just how quickly data can amass from just 12 data points? – 45:53
David’s details – 50:45