22/02/2016
Sabancı University School of Management Assistant Dean and Sabancı University Big Data Behavioral Analysis and Visualization Laboratory Director Associate Professor Burçin Bozkaya was a panelist in the Fostering Innovation Through Data conference held by SAS on Friday, February 12, 2016 at the Grand Tarabya Hotel.
Burçin Bozkaya was accompanied by Carrefoursa CRM Director Necati Özdeniz in the session titled "Big Data: A New Source of Innovation" The moderator of the panel was Fortune Turkey Technology Editor Kerem Özdemir.
Burçin Bozkaya began by introducing Turkey's first and only Big Data Behavioral Analysis and Visualization Laboratory founded by Sabancı University in association with the Massachusetts Institute of Technology (MIT) and the strategic partnership of Akbank under sponsorship by SAS. Bozkaya explained that the purpose of the lab was to reveal behavioral patterns, and that identifying connections between different elements was crucial to the lab's work.
Burçin Bozkaya said, “We have what we call 360-degree data from multiple sources. We work closely with banks and the retail industry. The lab offers an opportunity for discovery and experimentation. It is an ideal environment where different research problems can be tested. When official consent is obtained, data from a variety of sources may be combined to achieve extraordinary results."
Burçin Bozkaya continued, “Our data sets allow us to predict the future behavior of individuals. If the same people are found in the data sets received from different sources, the lab can draw the entire profile of a person who is common in all data sets. This has potential for use in detecting lifestyle changes and creating new business models."
Discussing the possibilities offered by the lab, Burçin Bozkaya said, “Thousands of scenarios can be tested in the lab. Researchers sometimes come with specific questions; sometimes they prefer the open-ended approach. The lab allows both."
Burçin Bozkaya gave an example case where they worked with a bank to develop client spending indexes, analyzing the correlation between client behavior and financial risk indexes. Bozkaya said that the findings, which were published in an international journal, revealed that people who shop at greatly different times and places have a greater probability of encountering financial issues.
Burçin Bozkaya stated, “Research always looks for some form of causality. When working with big data; however, causality may not always be available, or necessary. It is possible for one to find themselves in an impasse when looking for the answer to 'why?' and take action based on the answer to the question 'what?'."
Bozkaya emphasized their intent to include researchers in social sciences in the lab, saying "What cannot be explained by mathematics may be explained by people working in social sciences."
In conclusion, Burçin Bozkaya discussed Sabancı University's work on big data. Bozkaya said that Sabancı University's interest in the subject became manifest in the lab as well as master's and PhD programs. Burçin Bozkaya continued, “Universities are independent platforms where data from different sectors can be matched. I believe that very soon we will have an environment where all data can be collected and processed according to certain regulatory framework. I also believe that such an environment will benefit businesses as well as humanity as a whole."
