Challenges and opportunities of "big data" in the business of online
This presentation will discuss the business of online: the data it creates, the nature of problems it faces day to day and the types of people that are needed to find solutions to those problems. In the business of online there’s more data than anyone knows what to do with. The digitisation of our lives is creating an unprecedented amount of information about us and how we interact with the world around us.
Over 80% of Australians are using the Internet at least once a month; about 70% are on Facebook; more than half are accessing the Web via a mobile device, the majority of those via a smartphone. The average Australian spends a staggering 22 hours online per week clicking, browsing, friending, "like-ing", poking, tweeting, checking-out and searching. And each of these transactions generates a trail, an entry in a database somewhere.
This popular shift to digital media is fuelling an exponential growth in data creation. Analysing large data sets - “big data” - is tipped to become a key source of competition, stimulating new waves of productivity growth, innovation, and consumer surplus.
The opportunity in online is to leverage this data or rather, the insights from the data, to drive improvements in the way in which business engages with customers. The problem is, who is going to analyse this data?
A recent study by the McKinsey Institute suggests a gap of as many as 1.7 million data-savvy managers and analytics practitioners in the US alone. Using real-world business problems as examples, this presentation will make the case for statisticians and data analysts to look more closely at the internet industry for research, commercial and professional opportunities
Mr Leon Bombotas has recently taken up the position of Director of Insights and Research Asia Pacific for CBS Interactive (includes brands such as CNET, ZDNET, Gamespot and Last.fm). A statistics graduate from Macquarie (with MBA from UTS majoring in eBusiness),
Leon has spent the better part of the last 12 years working in data-driven marketing for e-commerce, media and telecommunications businesses. He has worked on numerous data and analytics projects at companies such as Telstra Media, eBay, ninemsn, Hutchison Telecom and 3.
He currently sits on the Measurement Council of the Internet Advertising Bureau, the peak industry body for online marketing and advertising standards in Australia.