On Friday the 13th (of June), Rich and Dirk were invited to give a presentation on Big Data – Next Big Thing or Big Distraction” at the Melbourne Risk Analytics Group (MRAG) quarterly forum. The event got off to a shaky start, with only 1 person not connected directly with Connected Analytics or the MRAG management team, but eventually about 50 attendees were present for the talk.
Big Data is certainly the hot topic of analytics at the moment, which led use to talk through what Big Data is, and what are the potential applications for Credit Risk Analysis. Rich then spent some time looking at typical analytical ecosystems, what makes them work, and also what the Choke Points are in their evolution to sustainable and dependable data platforms.
One key question raised was that given that we struggle so much managing Small Data, how can we be sure that we successfully use Big Data? One thing is for sure -, data is at the core of the work that we do so ensuring that it is well managed and after that, well used is something that we all need to make sure is at the top of our priority list.
The presentation is available for viewing.