the evolution of data in decision making
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The Evolution of Data in Decision Making Speaker: Jennifer Lewis - PowerPoint PPT Presentation

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The Evolution of Data in Decision Making Speaker: Jennifer Lewis Priestley, Ph.D. Associate Dean and Professor of Statistics Executive Director, Analytics and Data Science Institute Kennesaw State University Jennifer Lewis Priestley|Analytics

  1. The Evolution of Data in Decision Making Speaker: Jennifer Lewis Priestley, Ph.D. Associate Dean and Professor of Statistics Executive Director, Analytics and Data Science Institute Kennesaw State University Jennifer Lewis Priestley|Analytics and Data Science Institute 1

  2. 100 10 20 30 40 50 60 70 80 90 0 2004-01 2004-04 2004-07 2004-10 2005-01 2005-04 2005-07 2005-10 2006-01 2006-04 2006-07 2006-10 2007-01 2007-04 2007-07 2007-10 2008-01 2008-04 2008-07 2008-10 2009-01 2009-04 2009-07 2009-10 Data Science: (United States) 2010-01 2010-04 2010-07 2010-10 2011-01 2011-04 2011-07 2011-10 2012-01 2012-04 2012-07 2012-10 2013-01 2013-04 2013-07 2013-10 2014-01 2014-04 2014-07 2014-10 2015-01 2015-04 2015-07 2015-10 2016-01 2016-04 2016-07 2016-10 2017-01 2017-04 2017-07 2017-10 2018-01 2018-04 2018-07 2018-10 2019-01

  3. 100 10 20 30 40 50 60 70 80 90 0 2004-01 2004-05 2004-09 2005-01 2005-05 2005-09 2006-01 2006-05 2006-09 2007-01 2007-05 2007-09 Searches on Dunkin Donuts versus Data Science 2008-01 2008-05 2008-09 2009-01 Dunkin': (United States) 2009-05 2009-09 2010-01 2010-05 2010-09 2011-01 2011-05 2011-09 2012-01 Data Science: (United States) 2012-05 2012-09 2013-01 2013-05 2013-09 2014-01 2014-05 2014-09 2015-01 2015-05 2015-09 2016-01 2016-05 2016-09 2017-01 2017-05 2017-09 2018-01 2018-05 2018-09 2019-01 2019-05 2019-09

  4. How the Data Ecosystem is Evolving… Massive, Integrated and Dynamic Artificial Intelligence Deep Networks Large, Unstructured and In Motion Machine Learning Streaming/Real Time Small, Structured and Static Classification Predictive Modeling Descriptive Statistics

  5. We have generated more data in the last two years than in the whole of human history

  6. Stru St ructured Ver ersus Uns Unstructured Data Ge Da Generated by y Yea ear 35 30 25 ytes of Data ta 20 STRUCTURED Zettabyt UNSTRUCTURED 15 10 5 0 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

  7. Everyone is chasing the same talent… Finance Retail Insurance Consulting Healthcare Economics Manufacturing

  8. ➢ Correctly predicted Virginia ➢ 94% of all matches predicted ➢ Never played or followed basketball Jennifer Lewis Priestley|Analytics and Data Science Institute 8

  9. Who ARE these People? “ Person who is better at statistics than any software engineer and better at software engineering than any statistician ” – Josh Wills, Director of Data Engineering at Slack “ Person who is better at explaining the business implications of the results than any scientist and better at science than any business school graduate” Jennifer Priestley, Ph.D. Data Nerd

  10. Three trends to consider… New definitions of data = reduction in uncertainty (maybe) New definitions of data = new product opportunities New definitions of data = new ethical considerations Jennifer Lewis Priestley|Analytics and Data Science Institute 10

  11. Reducing Uncertainty…

  12. Reducing Uncertainty…

  13. Reducing Uncertainty?...

  14. New Product Opportunities… New Product Opportunities… (Percent of All Personal Loan Balances by Origination) Source: Experian 50.00% 40.00% FINTECHS 30.00% Traditional Banks 20.00% Credit Unions Finance Comp 10.00% 0.00% Jennifer Lewis Priestley|Analytics and Data Science Institute 14 2013 2014 2015 2016 2017 2018

  15. New Product Opportunities…Kabbage: Jennifer Lewis Priestley|Analytics and Data Science Institute 15

  16. What does Amazon know about me…and how could that be used?

  17. Jennifer Lewis Priestley|Analytics and Data Science Institute 17

  18. New Ethical Considerations… 18

  19. New Ethical Considerations… Jennifer Lewis Priestley|Analytics and Data Science Institute 19

  20. There is a bias embedded in using historical data to model future behavior… Jennifer Lewis Priestley|Analytics and Data Science Institute

  21. New Ethical Considerations… Jennifer Lewis Priestley|Analytics and Data Science Institute 21

  22. New Ethical Considerations…Who owns the data? Jennifer Lewis Priestley|Analytics and Data Science Institute

  23. How should data be valued?

  24. How do we think about Ethics?

  25. Ethics and Privacy – FDA for Data Mission of the FDA: The Food and Drug Administration is responsible for protecting the public health by ensuring the safety, efficacy, and security of human and veterinary drugs, biological products, and medical devices; and by ensuring the safety of our nation's food supply, cosmetics, and products that emit radiation.

  27. Data is evolving… …reduction in uncertainty …opportunities …ethical considerations Jennifer Lewis Priestley|Analytics and Data Science Institute

  28. Jennifer Lewis Priestley, Ph.D. jpriestl@kennesaw.edu datascience.kennesaw.edu

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