The era of Big Data presents exciting opportunities for leveraging analytics to create competitive advantage and new sources of revenue. To maximize business value, however, an enterprise must innovate in the context of good governance models to avoid technology projects for the sake of technology. In this workshop we describe a framework developed at the Massachusetts Institute of Technology for maximizing business value with the right combination of innovation and governance. We will examine new scenarios for monetising from Big Data sources. We will also explore opportunities for exploiting non-traditional data types from both internal and open data sources.

Mark Twain, a famous American author, once stated that there are “Lies, Damned Lies, and Statistics.” This phrase is used to describe the persuasive power of numbers, particularly the use of statistics, to lead people to draw incorrect conclusions. This workshop describes the subtle mistakes that can easily be made when interpreting the results from an analytic study or report. We describe logically sound processes for deciphering data using methods designed to illuminate actionable information for data scientists without distracting or misleading the knowledge worker from the relevant facts needed for effective decision-making.

The use of big data is a lynch pin in the deployment of smart cities of the future. The potential of big data goes far beyond the efficiencies that can be created in areas such as energy consumption, health care, education, and law enforcement. The true potential of big data is directly engaging society in governance through increased transparency and delivery of services using access to data as a foundation. This workshop will provide mini-case studies in a range of settings from developed countries such as the USA and developing countries such as Pakistan. An emphasis of the discussion will be on how city governments can use data to improve quality of life for their citizens.