SLIDE 1 Jennifer Lewis Priestley|Analytics and Data Science Institute 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
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Data Science: (United States)
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Searches on Dunkin Donuts versus Data Science
Dunkin': (United States) Data Science: (United States)
SLIDE 4 How the Data Ecosystem is Evolving…
Small, Structured and Static Descriptive Statistics Predictive Modeling Classification Large, Unstructured and In Motion Streaming/Real Time Machine Learning Massive, Integrated and Dynamic Deep Networks Artificial Intelligence
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We have generated more data in the last two years than in the whole of human history
SLIDE 6 5 10 15 20 25 30 35 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Zettabyt ytes of Data ta
St Stru ructured Ver ersus Uns Unstructured Da Data Ge Generated by y Yea ear
STRUCTURED UNSTRUCTURED
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Finance Retail Healthcare Economics Manufacturing Consulting Insurance
Everyone is chasing the same talent…
SLIDE 8 Jennifer Lewis Priestley|Analytics and Data Science Institute 8
➢Correctly predicted Virginia ➢94% of all matches predicted ➢Never played or followed basketball
SLIDE 9
“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
Who ARE these People?
SLIDE 10 Jennifer Lewis Priestley|Analytics and Data Science Institute 10
Three trends to consider…
New definitions of data = reduction in uncertainty(maybe) New definitions of data = new ethical considerations New definitions of data = new product opportunities
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Reducing Uncertainty…
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Reducing Uncertainty…
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Reducing Uncertainty?...
SLIDE 14 Jennifer Lewis Priestley|Analytics and Data Science Institute 14
New Product Opportunities…
0.00% 10.00% 20.00% 30.00% 40.00% 50.00% 2013 2014 2015 2016 2017 2018
New Product Opportunities…
(Percent of All Personal Loan Balances by Origination)
Source: Experian
FINTECHS Finance Comp
Traditional Banks Credit Unions
SLIDE 15 Jennifer Lewis Priestley|Analytics and Data Science Institute 15
New Product Opportunities…Kabbage:
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What does Amazon know about me…and how could that be used?
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New Ethical Considerations…
SLIDE 19 Jennifer Lewis Priestley|Analytics and Data Science Institute 19
New Ethical Considerations…
SLIDE 20 Jennifer Lewis Priestley|Analytics and Data Science Institute
There is a bias embedded in using historical data to model future behavior…
SLIDE 21 Jennifer Lewis Priestley|Analytics and Data Science Institute 21
New Ethical Considerations…
SLIDE 22 Jennifer Lewis Priestley|Analytics and Data Science Institute
New Ethical Considerations…Who owns the data?
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How should data be valued?
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How do we think about Ethics?
SLIDE 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.
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SLIDE 27 Jennifer Lewis Priestley|Analytics and Data Science Institute
…reduction in uncertainty …ethical considerations …opportunities
Data is evolving…
SLIDE 28 Jennifer Lewis Priestley, Ph.D. jpriestl@kennesaw.edu datascience.kennesaw.edu
