Investing in High Impact Big Data Solutions Evangelos Simoudis, Ph.D. Senior Managing Director [email protected] blog.tridentcap.com @esimoudis
Nov 28, 2014
Investing in High Impact Big Data Solutions
Evangelos Simoudis, Ph.D. Senior Managing Director
blog.tridentcap.com
@esimoudis
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My Journey through the Data World
’80s
’90s
’00s
’10s
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Big Data is a Big Deal
By creating actionable insights from big data we can solve many important problems
Log files
Text
Weather, GPS
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While industries differ in their ability to obtain value from big data …
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… important Big Data Applications can be developed in many of them
§ Healthcare: Outcomes analysis, cost containment
§ Pharmaceutical: Customized drug treatments
§ Financial Services: Fraud detection
§ Transportation and Logistics: Fleet optimization for fuel efficiency
§ Travel: Channel management
§ Energy: Yield management
§ Automotive: Supply chain optimization
§ CPG: Real-time consumer understanding
§ Retail: Real-time marketing across devices and channels
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10 Steps for Working with Big Data
Step 1 • Defining the problem
Step 2 • Determine the data to use (private and public)
Step 3 • Identify the data sources
Step 4 • Integrate the data
Step 5 • Clean the data
Step 6 • Create information-rich data sets
Step 7 • Model/Analyze the data
Step 8 • Experiment/present results
Step 9 • Identify actionable insights
Step 10 • Disseminate the results
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Solving Big Data problems involves more that data scientists
Problem
Data
Insights & Actions
Connector/ Translator
Patterns
Problem definition
Business user Data scientist 70% of work
30% of work
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While we are falling behind in training enough data scientists to meet our projected needs …
… we are falling even further behind in training business people with deep analytic skills
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We can ultimately lose the battle with the big data we are generating and collecting unless we can better leverage the expertise we are developing
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We are good at harnessing the basic ingredients
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Venture investments to date reflect this emphasis
Step 1 • Defining the problem
Step 2 • Determine the data to use (private and public)
Step 3 • Identify the data sources
Step 4 • Integrate the data
Step 5 • Clean the data
Step 6 • Create information-rich data sets
Step 7 • Model/Analyze the data
Step 8 • Experiment/present results
Step 9 • Identify actionable insights
Step 10 • Disseminate the results
= amount invested = value derived
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New investments must be able to provide better leverage of Connectors and Data Scientists
Insights & Actions
Connector/ Translator
Business user
Data scientist
20% of work 30% of work
Insight generation system
50% of work
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For this reason Trident Capital has been investing in big data scalable, vertical applications that generate actionable insights
§ Healthcare: cost containment
§ Transportation and Logistics: Fleet optimization
§ Energy: Yield management
§ Multi-industry: multi-channel customer lifecycle management
Advocate
Convert
Nurture
Capture
Retain
Attract
Big Data
Analytics Mobile Vertical
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Summary
1. Big data is a big deal because it can be used to address many important problems
2. Current approaches aren’t scalable and take to long to actionable insights
3. Venture investments in big data must shift to areas of higher impact and value
4. Trident Capital has been investing in big data applications that provide faster path to value and high ROI