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Taming The Big Data Tidal Wave: Finding Opportunities in Huge Data Streams with Advanced Analytics [Hardcover]

Bill Franks

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Book Description

Mar 30 2012 Wiley and SAS Business Series (Book 49)
You receive an e-mail. It contains an offer for a complete personal computer system. It seems like the retailer read your mind since you were exploring computers on their web site just a few hours prior….

As you drive to the store to buy the computer bundle, you get an offer for a discounted coffee from the coffee shop you are getting ready to drive past. It says that since you’re in the area, you can get 10% off if you stop by in the next 20 minutes….

As you drink your coffee, you receive an apology from the manufacturer of a product that you complained about yesterday on your Facebook page, as well as on the company’s web site….

Finally, once you get back home, you receive notice of a special armor upgrade available for purchase in your favorite online video game.  It is just what is needed to get past some spots you’ve been struggling with….

Sound crazy? Are these things that can only happen in the distant future? No. All of these scenarios are possible today! Big data. Advanced analytics. Big data analytics. It seems you can’t escape such terms today. Everywhere you turn people are discussing, writing about, and promoting big data and advanced analytics. Well, you can now add this book to the discussion.

What is real and what is hype? Such attention can lead one to the suspicion that perhaps the analysis of big data is something that is more hype than substance. While there has been a lot of hype over the past few years, the reality is that we are in a transformative era in terms of analytic capabilities and the leveraging of massive amounts of data. If you take the time to cut through the sometimes-over-zealous hype present in the media, you’ll find something very real and very powerful underneath it. With big data, the hype is driven by genuine excitement and anticipation of the business and consumer benefits that analyzing it will yield over time.

Big data is the next wave of new data sources that will drive the next wave of analytic innovation in business, government, and academia. These innovations have the potential to radically change how organizations view their business. The analysis that big data enables will lead to decisions that are more informed and, in some cases, different from what they are today. It will yield insights that many can only dream about today. As you’ll see, there are many consistencies with the requirements to tame big data and what has always been needed to tame new data sources. However, the additional scale of big data necessitates utilizing the newest tools, technologies, methods, and processes. The old way of approaching analysis just won’t work. It is time to evolve the world of advanced analytics to the next level. That’s what this book is about.

Taming the Big Data Tidal Wave isn’t just the title of this book, but rather an activity that will determine which businesses win and which lose in the next decade. By preparing and taking the initiative, organizations can ride the big data tidal wave to success rather than being pummeled underneath the crushing surf. What do you need to know and how do you prepare in order to start taming big data and generating exciting new analytics from it? Sit back, get comfortable, and prepare to find out!


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From the Inside Flap

Taming the Big Data Tidal Wave: Finding Opportunities in Huge Data Streams with Advanced Analytics

Big data is sprouting up everywhere. Leveraging it today will drive competitive advantage; ignoring it puts your organization at risk of lagging behind the competition. To keep your edge razor-sharp, you must aggressively pursue capturing and analyzing these new data sources to extract the insights that they offer . . . starting today! Taming the Big Data Tidal Wave provides you with the tools, processes, and methods you need to tackle big data and cultivate a culture of innovation and discovery in your organization.

With its unique focus on the effective analysis of these increasingly popular data sources, Taming the Big Data Tidal Wave shows you step by step how to design, incorporate, and profit from a world-class advanced analytics ecosystem in today's big data environment. Author and analytics expert Bill Franks shares his "from the trenches" perspective to show you how big data is changing the world of analytics. He maps out an easy-to-follow action plan to help your organization uncover new business opportunities, implement new business processes, and make better-informed decisions.

This user-friendly handbook explores a number of big data concepts and how they can be applied to improve your organization's analytics, including:

  • What is big data, why is it important, and what are its benefits?

  • Ten big data sources that can change your business, including web data, sensor data, text data, and others

  • Technologies, processes, and methods required to tame big data

  • The convergence of the analytic and data environments

  • The evolution of visual point and click interfaces, analytic point solutions, open source tools, and data visualization tools

  • Modern analytic approaches such as ensemble modeling, commodity models, and text analysis

  • What makes a great analysis, a great analytic professional, and a great analytics team?

  • Enabling analytic innovation through an analytic innovation center

  • How to create a culture of innovation and discovery in your organization

To stay ahead of the pack, you need to tackle big data today. Discover everything you need to know to improve productivity, create value, stay competitive, spot new business trends, and generate exciting analytics with Taming the Big Data Tidal Wave.

From the Back Cover

Praise for Taming the Big Data Tidal Wave: Finding Opportunities in Huge Data Streams with Advanced Analytics

"This book . . . puts the focus squarely where it belongs . . . It's primarily about the effective analysis of big data, rather than the big data management (BDM) topic per se. It starts with data and goes all the way into such topics as how to frame decisions, how to build an analytics center of excellence, and how to build an analytical culture. You will find some mentions of BDM topics, as you should. But the bulk of the content here is about how to create, organize, staff, and execute on analytical initiatives that make use of data as the input."
—From the Foreword by Thomas H. Davenport, President's Distinguished Professor of IT and Management, Babson College, cofounder and Research Director, International Institute for Analytics

"This is a one-stop handbook for anyone who wants to understand what big data is and how to leverage it through advanced analytic processes and methods. Bill Franks intimately understands and describes how to create an entire analytics ecosystem intended to deliver competitive advantage."
—Stuart Aitken, CEO, dunnhumby USA

"In Taming the Big Data Tidal Wave, Bill Franks does a great job introducing both big data and the kind of analytics that will generate value from the waves of new data that are washing over companies. Easy to read and with helpful wrap-up sections in each chapter, the book avoids technical jargon without being lightweight. In this great introductory book, Bill makes a powerful case for analytic innovation and for getting started now."
—James Taylor, CEO, Decision Management Solutions and author of Decision Management Systems: A Practical Guide to Using Business Rules and Predictive Analytics

"In case you ever wondered why big data is providing business value in many industries, this book gives you perspectives and answers from many angles—from the tech side, to data science, to business users and processes. In my entire career of researching and lecturing on analytics, I have never encountered a book that combines the knowledge of both information technology and business managers in such a succinct way. I would recommend it to anyone whose career intersects with big data."
—Diego Klabjan, Professor at Northwestern University; Director, Master of Science in Analytics

"Bill Franks provides an entertaining and consumable take on a complex and intricate topic. The mix of insights applicable to practitioners and novices alike make this a critical read for someone new to the analytics space or to anyone in the space wanting to ensure they can learn from an accomplished leader. Franks' view across multiple industries and uses of big data have positioned him well to deliver this entry into the emergence of the space."
—Richard Maltsbarger, Senior Vice President of Strategy, Lowe's Companies, Inc.


Inside This Book (Learn More)
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Front Cover | Copyright | Table of Contents | Excerpt | Index | Back Cover
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Customer Reviews

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Most Helpful Customer Reviews on Amazon.com (beta)
Amazon.com: 4.6 out of 5 stars  18 reviews
19 of 21 people found the following review helpful
5.0 out of 5 stars Broad Intro to Big Data July 25 2012
By K. Michael Tsiappoutas - Published on Amazon.com
Format:Hardcover|Amazon Verified Purchase
Nice, clear intro to the high level concepts of Big Data. Easy, fun read. Gives enough detail for putting together an executive report or getting a team started. Pros and cons are balanced well, examples are interesting and informative (starts off with Web data and moves on to more 'boring' industires like insurance and retail), touches on possible uses of text predictive analytics, MapReduce/Hadoop, a very inspiring section on how to build and sustain a Big Data team, etc.

Bill tackles controversial issues with ease and confidence, giving away his years of practical experience (statistical significance vs business ROI, sampling or not, shoot for improvement not perfection, just get started!, etc.).

Someone said something about the book mentioning but not explaining terms like logistic regression and boosted trees. (1) If you don't know these terms, probably the topic of Big Data would not be of much interest to you. Or maybe start with Bishop Pattern Recognition and Machine Learning (Information Science and Statistics), Hastie The Elements of Statistical Learning: Data Mining, Inference, and Prediction, Second Edition (Springer Series in Statistics), or something similar. (2) There is no single book to prepare someone for the nitty-gritty of this totally new, interdisciplinary subject. If you are familiar with the machine learning, statistical, engineering methods and you need to know more about Big Data, then this book is a good place to start. But if you don't know the basics, you will probably need to build some acumen before reading this or any other similar book on the subject. I'm not affiliated with the author nor his company in any way.
46 of 59 people found the following review helpful
2.0 out of 5 stars Lightweight and mis-directed Jun 29 2012
By Troy Tempest - Published on Amazon.com
Format:Hardcover
I bought this book because it got ten 5 star reviews on amazon US/UK. After reading it I could not understand why it got so many good reviews until I realized that many (all?) of the reviews where written by people who have some connection with the Author's company "Teradata."

Hopefully, this is a more non-partisan review.

The book is clearly an introductory text, aimed at the non-technical reader who is new to the subject, without IT or Analytical expertise. It is written in an easy to read style without recourse to formulas or equations, which is the right approach for the intended audience.

The first three chapters are reasonably OK. They discuss what big data is and provide some examples from a number of industries. There is (rightly) a focus on web sourced data, but some other examples of "Big Data" are also provided. However, it's all said in quite a long winded way and I felt it could easily have been condensed into a single introductory chapter.

The central part of the book (chapters 4 to 7) covers the analysis of big data (e.g. predictive analytics). However, the three main problems are.

1. There are a lot of things that are discussed but poorly explained - prior knowledge is taken for granted. One example is predictive models. These are mentioned extensively, many examples are provided of where they are used, but they are never well explained. What does a predictive model look like? How is a score calculated? What does the score represent? and so on.

2. In some places, technical terms are "Thrown in" without explanation. For example, "logistic regression" and "decision trees" are mentioned without any attempt to describe what they are (it is possible to explain these things in layman's terms, without using formulas, which would be appropriate for this type of non-technical book.) In another review someone says "If you don't know these terms, probably the topic of Big Data would not be of much interest to you." In my opinion the exact opposite is true. If you do know these terms, then this book certainly isn't for you because it is far too basic and you won't learn much from it. Another example, in Chapter 4, is where the book feels the need to explain what a megabyte, gigabyte, Terabyte and so on, are. That's fine - it's an introductory book, but the explanations are all in terms of "A megabyte is so many kilobytes" - but no explanation is given as to what a kilobyte is!!!

3. The book goes off on tangents talking about things that aren't relevant to its target audience. For example, why is so much text devoted to multi-processor systems, grid computing, parallel processing and so on? Starts to sound like a sales pitch. A (non-technical) manager that is interested in a "Big Data" system will simply seek out solutions that meet their requirements. Whether it's a single or multi-processor system is of little relevance (isn't everything multi-processor these days anyway?). If the reader is an IT or analytics professional then the way these topics are discussed is real kindergarten stuff and I doubt they will learn anything from it.

The later chapters do pull things back a bit, with a focus on how one builds up a good analytics team and culture, but not enough for me to be able to give it more than a two star rating.
In summary, the discussion about big data and analytics culture are reasonable, but the central body around the analytics process lets the book down.
13 of 15 people found the following review helpful
5.0 out of 5 stars A Superb Handbook for Strategists and Marketeers May 29 2012
By Thoughtful Tiger - Published on Amazon.com
Format:Hardcover
You don't have to be a "data" manager to benefit from this superb, user friendly guide to big data. Whether you're involved in strategy, marketing, business development, or general management, you'll find some useful insights. The really important theme of this book is the convergence of data management and analytics. It's one thing to generate data, but it's quite another to parse and analyze it. Bill Franks has done a terrific job of putting these issues into context. The bottom line is how do you extract business value from massive and growing amounts of structured and unstructured data? The examples are interesting and it's easy to draw parallels to many other industries.

I found this to be an eye-opening look at a trend that is still in the early stage of emergence - something that will definitely provide competitive advantage to organizations that do this effectively. This is one of those "much appreciated" books on a topic that affects all organizations. Computers and wireless gizmos, digitalization of health records, an explosion of sensors of every shape and function, are all pushing us into new uncharted waters. Bill Franks helps provide some guideposts. I don't get time to read many "business books" but this one made my list. I also enjoyed the interviews with Bill Franks on YouTube!

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