When Thomas H. Davenport and D.J. Patil proclaimed “Data Scientist” as the sexiest job of the 21st Century in October 2012 issue of Harvard Business Review, the academic fraternity was shaken and felt the need to contribute to the practitioners and educators through latest research in business analytics and intelligence. The key research areas include big data processing and analytics, visual analytics, descriptive analytics, predictive analytics, prescriptive analytics, business analytics and optimization, actuarial modeling, social network analytics, data mining tools, web analytics, text analytics, marketing research, marketing analytics, banking analytics, sentiment analytics, modeling, workforce analytics, business intelligence, data management, decision management, BI architecture, mobile analytics, retail analytics, graph entropy, decision trees and applications of analytics to different functional areas of business like marketing and finance. Subsequently, Marketing Analytics Conference (MAC 2013) is conceptualised to promote the dissemination of knowledge related to data science, business analytics and business intelligence. The key note theme of MAC 2013 focuses on Big Data as an Opportunity for Marketers where Prof. Arnab K. Laha of IIM Ahmedabad and Mr Saurabh Mittal, Senior Vice President CPG & Retail of Fractal Analytics will share their views.
In the present era, especially after the advent of social networks, the volume, velocity, variety and complexity of data have increased exponentially to give rise to Big Data. The analyses of Big Data are done by several programming models. MapReduce is a programming model and an associated implementation for processing and generating large datasets that is amenable to a broad variety of real-world tasks (Ghemawat, 2008). Hadoop, the most popular open-source implementation of the MapReduce framework, are used to refine unstructured and semi-structured data into structured formats that can be analyzed or loaded into other analytic platforms. There are number of Hadoop companies such as Hortonworks and Cloudera. Hadoop is distributed by Apache. Apache Hadoop consists of two components: Hadoop MapReduce for parallel data processing and the Hadoop Distributed File System (HDFS) for low-cost, reliable data storage. The key note address of MAC 2013 will further enhance our knowledge and generate deep insights on the applications of big data analytics on marketing.
Dean, J., Ghemawat, S.: MapReduce (2008) Simplified Data Processing on Large Clusters.
Communications of ACM 51(1), 107–113.
Author: Prof Tuhin Chattopadhyay, Professor, FIIB
See his Linkedin Profile here