The role of big data in governance: a regulatory and legal perspective of analytics in global financial services

This paper discusses how global financial institutions are using big data analytics within their compliance operations. A lot of previous research has focused on the strategic implications of big data, but not much research has considered how such tools are entwined with regulatory breaches and investigations in financial services. Our work covers two in-depth qualitative case studies, each addressing a distinct type of analytics. The first case focuses on analytics which manage everyday compliance breaches and so are expected by managers. The second case focuses on analytics which facilitate investigation and litigation where serious unexpected breaches may have occurred. In doing so, the study focuses on the micro/data to understand how these tools are influencing operational risks and practices. The paper draws from two bodies of literature, the social studies of information systems and finance to guide our analysis and practitioner recommendations. The cases illustrate how technologies are implicated in multijurisdictional challenges and regulatory conflicts at each end of the operational risk spectrum. We find that compliance analytics are both shaping and reporting regulatory matters yet often firms may have difficulties in recruiting individuals with relevant but diverse skill sets. The cases also underscore the increasing need for financial organizations to adopt robust information governance policies and processes to ease future remediation efforts.

Managing change in complex projects: configuration management, asset information and big data

As we enter an era of ‘big data’, asset information is becoming a deliverable of complex projects. Prior research suggests digital technologies enable rapid, flexible forms of project organizing. This research analyses practices of managing change in Airbus, CERN and Crossrail, through desk-based review, interviews, visits and a cross-case workshop. These organizations deliver complex projects, rely on digital technologies to manage large data-sets; and use configuration management, a systems engineering approach with mid-20th century origins, to establish and maintain integrity. In them, configuration management has become more, rather than less, important. Asset information is structured, with change managed through digital systems, using relatively hierarchical, asynchronous and sequential processes. The paper contributes by uncovering limits to flexibility in complex projects where integrity is important. Challenges of managing change are discussed, considering the evolving nature of configuration management; potential use of analytics on complex projects; and implications for research and practice.

Bigger data for Big Data: from Twitter to brain-computer interface

We are sympathetic with Bentley et al’s attempt to encompass the wisdom of crowds in a generative model, but posit that success at using Big Data will include more sensitive measurements, more and more varied sources of information, as well as build from the indirect information available through technology, from ancillary technical features to data from brain-computer interface.

Storing and manipulating environmental big data with JASMIN

JASMIN is a super-data-cluster designed to provide a high-performance high-volume data analysis environment for the UK environmental science community. Thus far JASMIN has been used primarily by the atmospheric science and earth observation communities, both to support their direct scientific workflow, and the curation of data products in the STFC Centre for Environmental Data Archival (CEDA). Initial JASMIN configuration and first experiences are reported here. Useful improvements in scientific workflow are presented. It is clear from the explosive growth in stored data and use that there was a pent up demand for a suitable big-data analysis environment. This demand is not yet satisfied, in part because JASMIN does not yet have enough compute, the storage is fully allocated, and not all software needs are met. Plans to address these constraints are introduced.

Pocket data mining - big data on small devices

Owing to continuous advances in the computational power of handheld devices like smartphones and tablet computers, it has become possible to perform Big Data operations including modern data mining processes onboard these small devices. A decade of research has proved the feasibility of what has been termed as Mobile Data Mining, with a focus on one mobile device running data mining processes. However, it is not before 2010 until the authors of this book initiated the Pocket Data Mining (PDM) project exploiting the seamless communication among handheld devices performing data analysis tasks that were infeasible until recently. PDM is the process of collaboratively extracting knowledge from distributed data streams in a mobile computing environment. This book provides the reader with an in-depth treatment on this emerging area of research. Details of techniques used and thorough experimental studies are given. More importantly and exclusive to this book, the authors provide detailed practical guide on the deployment of PDM in the mobile environment. An important extension to the basic implementation of PDM dealing with concept drift is also reported. In the era of Big Data, potential applications of paramount importance offered by PDM in a variety of domains including security, business and telemedicine are discussed.

Market research and the ethics of big data

The term 'big data' has recently emerged to describe a range of technological and commercial trends enabling the storage and analysis of huge amounts of customer data, such as that generated by social networks and mobile devices. Much of the commercial promise of big data is in the ability to generate valuable insights from collecting new types and volumes of data in ways that were not previously economically viable. At the same time a number of questions have been raised about the implications for individual privacy. This paper explores key perspectives underlying the emergence of big data, and considers both the opportunities and ethical challenges raised for market research.

Big data architecture for pervasive healthcare: a literature review

Pervasive healthcare aims to deliver deinstitutionalised healthcare services to patients anytime and anywhere. Pervasive healthcare involves remote data collection through mobile devices and sensor network which the data is usually in large volume, varied formats and high frequency. The nature of big data such as volume, variety, velocity and veracity, together with its analytical capabilities com-plements the delivery of pervasive healthcare. However, there is limited research in intertwining these two domains. Most research focus mainly on the technical context of big data application in the healthcare sector. Little attention has been paid to a strategic role of big data which impacts the quality of healthcare services provision at the organisational level. Therefore, this paper delivers a conceptual view of big data architecture for pervasive healthcare via an intensive literature review to address the aforementioned research problems. This paper provides three major contributions: 1) identifies the research themes of big data and pervasive healthcare, 2) establishes the relationship between research themes, which later composes the big data architecture for pervasive healthcare, and 3) sheds a light on future research, such as semiosis and sense-making, and enables practitioners to implement big data in the pervasive healthcare through the proposed architecture.

Fast adaptive real-time classification for data streams with concept drift

An important application of Big Data Analytics is the real-time analysis of streaming data. Streaming data imposes unique challenges to data mining algorithms, such as concept drifts, the need to analyse the data on the fly due to unbounded data streams and scalable algorithms due to potentially high throughput of data. Real-time classification algorithms that are adaptive to concept drifts and fast exist, however, most approaches are not naturally parallel and are thus limited in their scalability. This paper presents work on the Micro-Cluster Nearest Neighbour (MC-NN) classifier. MC-NN is based on an adaptive statistical data summary based on Micro-Clusters. MC-NN is very fast and adaptive to concept drift whilst maintaining the parallel properties of the base KNN classifier. Also MC-NN is competitive compared with existing data stream classifiers in terms of accuracy and speed.

Big data: a normal accident waiting to happen?

Widespread commercial use of the internet has significantly increased the volume and scope of data being collected by organisations. ‘Big data’ has emerged as a term to encapsulate both the technical and commercial aspects of this growing data collection activity. To date, much of the discussion of big data has centred upon its transformational potential for innovation and efficiency, yet there has been less reflection on its wider implications beyond commercial value creation. This paper builds upon normal accident theory (NAT) to analyse the broader ethical implications of big data. It argues that the strategies behind big data require organisational systems that leave them vulnerable to normal accidents, that is to say some form of accident or disaster that is both unanticipated and inevitable. Whilst NAT has previously focused on the consequences of physical accidents, this paper suggests a new form of system accident that we label data accidents. These have distinct, less tangible and more complex characteristics and raise significant questions over the role of individual privacy in a ‘data society’. The paper concludes by considering the ways in which the risks of such data accidents might be managed or mitigated.

Big Data and ecosystem research programmes

The size and complexity of data sets generated within ecosystem-level programmes merits their capture, curation, storage and analysis, synthesis and visualisation using Big Data approaches. This review looks at previous attempts to organise and analyse such data through the International Biological Programme and draws on the mistakes made and the lessons learned for effective Big Data approaches to current Research Councils United Kingdom (RCUK) ecosystem-level programmes, using Biodiversity and Ecosystem Service Sustainability (BESS) and Environmental Virtual Observatory Pilot (EVOp) as exemplars. The challenges raised by such data are identified, explored and suggestions are made for the two major issues of extending analyses across different spatio-temporal scales and for the effective integration of quantitative and qualitative data.

Unified framework for construction of rule based classification systems

Automatic generation of classification rules has been an increasingly popular technique in commercial applications such as Big Data analytics, rule based expert systems and decision making systems. However, a principal problem that arises with most methods for generation of classification rules is the overfit-ting of training data. When Big Data is dealt with, this may result in the generation of a large number of complex rules. This may not only increase computational cost but also lower the accuracy in predicting further unseen instances. This has led to the necessity of developing pruning methods for the simplification of rules. In addition, classification rules are used further to make predictions after the completion of their generation. As efficiency is concerned, it is expected to find the first rule that fires as soon as possible by searching through a rule set. Thus a suit-able structure is required to represent the rule set effectively. In this chapter, the authors introduce a unified framework for construction of rule based classification systems consisting of three operations on Big Data: rule generation, rule simplification and rule representation. The authors also review some existing methods and techniques used for each of the three operations and highlight their limitations. They introduce some novel methods and techniques developed by them recently. These methods and techniques are also discussed in comparison to existing ones with respect to efficient processing of Big Data.

An overview of interactive visual data mining techniques for knowledge discovery

n the past decade, the analysis of data has faced the challenge of dealing with very large and complex datasets and the real-time generation of data. Technologies to store and access these complex and large datasets are in place. However, robust and scalable analysis technologies are needed to extract meaningful information from these datasets. The research field of Information Visualization and Visual Data Analytics addresses this need. Information visualization and data mining are often used complementary to each other. Their common goal is the extraction of meaningful information from complex and possibly large data. However, though data mining focuses on the usage of silicon hardware, visualization techniques also aim to access the powerful image-processing capabilities of the human brain. This article highlights the research on data visualization and visual analytics techniques. Furthermore, we highlight existing visual analytics techniques, systems, and applications including a perspective on the field from the chemical process industry.