Welcome!

@DXWorldExpo Authors: Elizabeth White, Zakia Bouachraoui, Liz McMillan, Yeshim Deniz, Pat Romanski

Related Topics: @DXWorldExpo, Microservices Expo, @CloudExpo, SDN Journal

@DXWorldExpo: Article

Big Data, Machine Learning and Innovation

New terminology doesn't imply new technology

Big Data and its most prominent technical ingredient, Machine Learning, are all the rage these days, as IT industry is trying to convince companies technology revolution is underway. ( "If you are not doing it, your competitors sure are, and by the time you realize it, it will be too late" ). Data fracking, i.e. Big Data, is 21 century new oil of that will power and grease stalled industries and reignite growth, or so the story goes.

While advanced analytics (it comes under various names - predictive analytics, data mining, and data science, more recently) is great and in use for decades now, we are well reminded that it is just - analytics. As such, it is a natural next step beyond straightforward SQL queries, but falls short of being anything near revolutionary. We are well advised to listen to the words of Larry Ellison (on IT industry in general and cloud in particular, but applicable to many new IT initiatives):

Our industry (IT - RM) is so bizarre.They change the term and they think they've invented technology.
Let's call that cloud, it sure beats innovation
. (For example) Chanel - last year  was  Fuchsia, this year it is Complice.
(Ellison draws parallel between IT and fashion industries - RM )

In Machine Learning, for example,  linear/nonlinear data fitting regression using gradient descent method  (which is hyped and sold  as a new, powerful method ) is just decades old iterative method, often implemented in Fortran in 80's. All that machine learning does ( in data processing field ) is to find curve that best fits available data ( or find data patterns ).  While understanding and using these methods assumes good knowledge of mathematics and computers, it is nowhere near rocket science level that it is hyped to be. Since it is presumably impossible to find this superhuman data scientist, we hear suggestions that companies should create FrankenTeams comprised of computer programmers, statisticians, machine learning experts, database administrators, Hadoop evangelists etc., that are all together supposed to approximate a single unicorn "data scientist".

Consequently we are witnessing companies trying to dig out middlebrow, stuttering,  psychology, sociology PhDs  from their academic caves . They come out to daylight, blinking, attracted by this new gold rush, having no clue what business data processing and corporate environment is. Companies are supposed to turn them into "data scientists" or "business scientists," only because they have knowledge of advanced statistical methods. That approach will not only not work, it is also incredibly and unnecessarily wasteful.

It should also be understood that each model has inherent limitations as it is approximation of reality and essentially an optimization, which by definition never perfectly describes reality. Past history doesn't necessarily project into future, since model sometimes fails to catch black swan events or outliers of disproportional weight.

That said, we are all in for bringing advanced analytics into mainstream, but no unrealistic expectations, please.

More Stories By Ranko Mosic

Ranko Mosic, BScEng, is specializing in Big Data/Data Architecture consulting services ( database/data architecture, machine learning ). His clients are in finance, retail, telecommunications industries. Ranko is welcoming inquiries about his availability for consulting engagements and can be reached at 408-757-0053 or [email protected]

DXWorldEXPO Digital Transformation Stories
Early Bird Registration Discount Expires on August 31, 2018 Conference Registration Link ▸ HERE. Pick from all 200 sessions in all 10 tracks, plus 22 Keynotes & General Sessions! Lunch is served two days. EXPIRES AUGUST 31, 2018. Ticket prices: ($1,295-Aug 31) ($1,495-Oct 31) ($1,995-Nov 12) ($2,500-Walk-in)
Big Data Federation, Inc. develops and applies artificial intelligence to predict financial and economic events that matter. The company uncovers patterns and precise drivers of performance and outcomes with the aid of machine-learning algorithms, big data, and fundamental analysis. Their products are deployed by some of the world's largest financial institutions.
Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life settlement products to hedge funds and investment banks. After, he co-founded a revenue cycle management company where he learned about Bitcoin and eventually Ethereal. Andrew's role at ConsenSys Enterprise is a mul...
Nicolas Fierro is CEO of MIMIR Blockchain Solutions. He is a programmer, technologist, and operations dev who has worked with Ethereum and blockchain since 2014. His knowledge in blockchain dates to when he performed dev ops services to the Ethereum Foundation as one the privileged few developers to work with the original core team in Switzerland.
René Bostic is the Technical VP of the IBM Cloud Unit in North America. Enjoying her career with IBM during the modern millennial technological era, she is an expert in cloud computing, DevOps and emerging cloud technologies such as Blockchain. Her strengths and core competencies include a proven record of accomplishments in consensus building at all levels to assess, plan, and implement enterprise and cloud computing solutions. René is a member of the Society of Women Engineers (SWE) and a m...
Only Adobe gives everyone - from emerging artists to global brands - everything they need to design and deliver exceptional digital experiences. Adobe Systems Incorporated develops, markets, and supports computer software products and technologies. The Company's products allow users to express and use information across all print and electronic media. The Company's Digital Media segment provides tools and solutions that enable individuals, small and medium businesses and enterprises to cre...
Digital Transformation and Disruption, Amazon Style - What You Can Learn. Chris Kocher is a co-founder of Grey Heron, a management and strategic marketing consulting firm. He has 25+ years in both strategic and hands-on operating experience helping executives and investors build revenues and shareholder value. He has consulted with over 130 companies on innovating with new business models, product strategies and monetization. Chris has held management positions at HP and Symantec in addition to ...
The challenges of aggregating data from consumer-oriented devices, such as wearable technologies and smart thermostats, are fairly well-understood. However, there are a new set of challenges for IoT devices that generate megabytes or gigabytes of data per second. Certainly, the infrastructure will have to change, as those volumes of data will likely overwhelm the available bandwidth for aggregating the data into a central repository. Ochandarena discusses a whole new way to think about your next...
Headquartered in Plainsboro, NJ, Synametrics Technologies has provided IT professionals and computer systems developers since 1997. Based on the success of their initial product offerings (WinSQL and DeltaCopy), the company continues to create and hone innovative products that help its customers get more from their computer applications, databases and infrastructure. To date, over one million users around the world have chosen Synametrics solutions to help power their accelerated business or per...
ICC is a computer systems integrator and server manufacturing company focused on developing products and product appliances to meet a wide range of computational needs for many industries. Their solutions provide benefits across many environments, such as datacenter deployment, HPC, workstations, storage networks and standalone server installations. ICC has been in business for over 23 years and their phenomenal range of clients include multinational corporations, universities, and small busines...