Big Data and Business Analytics

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Innovation Patterns and Big Data

Daniel Conway and Diego Klabjan

INTRODUCTION

Big data is oen generated by devices congured for collection based on

the occurrence of events. Events can occur based on scan rates (collect

yield from a combine every ve seconds), from status change (pitch is a

strike, count is now 3-1), or from rule execution (S&P 500 VIX > 24.5).

Domains such as nance and physics, where big data was rst collected

and analyzed, were the rst to create new theories and innovative new

markets, and those innovations are now nding their way into domains

where data collection has recently become feasible. For example, the

na ...