Business and Big Data: FABERNOVEL Lab

Big Data is a term that has already become a real “baseword”, this topic is so popular. More and more people and companies from various parts of the world and industries are starting to understand the importance of data analysis. But it is not enough just to want to use the data, you still need to understand what and how to collect and study. Today we look at this particular problem.

Evolution

First of all, let's talk about how the technologies developed, which led to the emergence of the very possibility of the emergence of the concept of Bid Data. The development of this technology cannot be considered in isolation from the cost of storing information. For example, in the 1980s, the possibility of collecting large amounts of data had already appeared, but their storage was very expensive. Thus, storing 1 GB of data in 1980 cost $ 300,000.
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For the first time, the practical use of big data in a computer system was realized in 1997 by the creators of the chess computer Deep Blue, who beat world champion Garry Kasparov in chess.

By the year 2000, the cost of storing 1 gigabyte of data had already dropped to just $ 100.

The next important event in the evolution of Big Data was the creation of the Hadoop distributed computing platform in 2005.

Understanding the importance of working with data continued to come to the owners of an increasing number of businesses, mainly IT companies. In 2006, Netflix launched a contest in which developers had access to a data set and had to improve the algorithm of the service recommendations (the results had to be improved by 10%). The prize winner was $ 1 million.



By the beginning of the first decade of the 21st century, even representatives of state bodies were convinced of the prospects of Big Data. In 2011, Los Angeles police launched a project to analyze crime data for 80 years to improve the quality of prediction of future crimes.

In 2013, the cost of storing 1 GB of data is reduced to $ 0.1.

By 2017, McKinsey predicts the growth of the global Big Data market to $ 50 billion.

"Knowledge of Big Data", as a line in the summary

Business has long realized that the ability to work with data is a competitive advantage, and specialists with similar skills will be worth their weight in gold.



According to the same McKinsey company, by 2018 in the United States alone a shortage of specialists with deep analytical skills will amount to 190 thousand people. By 2018, the lack of managers on the market who can analyze large amounts of data to make effective decisions will amount to 1.5 million.

DataLab from FABERNOVEL

As usual, in Runet, the development of Big Data lags behind the US, but in our country there are a considerable number of companies that, if desired, can collect huge amounts of data on current and potential customers. Next comes the question of the ability to effectively analyze and monetize this information.

There are not enough specialists in Big Data in America, and in Russia they cannot be found during the day with fire. However, they are still there and are willing to share their knowledge.



FABERNOVEL has developed a special “Laboratory” - a one-day course on Big Data, whose students will be able to understand the main scenarios of using big data, get acquainted with the basic technologies in this area and create an experimental Big Data project with the help of industry mentors and experts. Briefly, the program can be divided into three sections:

• Business aspects: the history of Big Data and the evolution of the market, the most vulnerable segments and industries, the main challenges and successful scenarios of technology application.
• Technological aspects: the Hadoop revolution and its principles, promising technologies (Storm et Spark), No-SQl and its new features, technology application scenarios.
• Simulating your own Big Data project: the goal of the exercise is to get the first insights, visualize the results and understand the principles of ROI (return on investment)

In the classroom, participants together with mentors will consider various theoretical and practical topics from the field of Big Data. For example, one of the tasks will focus on defining scenarios for applying data to achieve business goals, and in the course of another session, the task will be to analyze an anonymous set of data and extract useful insights from it.

Such educational initiatives at the moment are not very common in our country, so we invite both representatives of companies and individual specialists to take part in the Data Lab from FABERNOVEL.

Businesses need fuel, and now this fuel is data. You just need to learn how to use them correctly.

Thanks for attention!

The laboratory will be held in Digital October; you can contact Lev Samsonov for all participation issues.