|By Adrian Bridgwater||
|July 4, 2014 03:00 PM EDT||
The fundamental mechanics of business have changed.
Well, they haven't quite.
The basic laws of supply and demand still govern the economic principles inside which firms in all industries bring goods and services to market inside a common monetary system on an international level.
But a change has occurred and it is an information-driven shift.
Our core accounting systems used to represent the motherlode of all company information. Onward from there... somewhere around the end of the last millennium we added so-called Customer Relationship Management to the corporate information arsenal and started to build up the commercial data bank.
Fast forward into the first decade of the new millennium and we found ourselves deeply entrenched (and enamored with) the world of Enterprise Resource Planning (ERP). In the ERP-enabled world we started to define Key Performance Indicators (KPIs) and use business metrics in a more mathematically sensitive way than ever before.
What makes a truly data-centric firm?
Today we take ERP as a given element of a wider total corporate data stack. The modern firm captures data from accounts, from customers, from business units (in the ERP sense) of course, but that's just the start. A truly data-centric firm also captures information from employees, external competitors, business equipment (in the capital expenditure CapEx and operational expenditure OpEx sense) often with Internet of Things style sensors and more besides.
To clarify our argument one crucial step further, this (above example) is not a truly data-centric firm; this is only a data-aware firm. A truly data-centric firm is also capable of capturing these multi-level information streams and being able to analyze them for operational (and so therefore) commercial advantage.
Future investment brokers won't ask to see profit and loss statements; they will ask "how good is your Big Data information capture and analytics procedure system?" or such like. Okay yes they will ask for P&L too, but you get the point.
This practice of analytics is defining the modern 21st century business. Knowing what customer movements mean is important, but knowing how to analyze what connected ancillary factors will influence customer behavior before it happens is what really makes the difference.
This overall trend for change toward analytics has certain effects. Firms need the same mix of salespeople, IT, finance, admin and other staff; but now they need a defined specialist to serve as a Data Scientist (CAPS intended to denote job title) -- or, at least, they need to be able to outsource the consultancy services needed to supply that analytics intelligence.
Patterns and anomalies
Companies who "get" the analytics challenge are using a variety of tools to surmount and conquer the Big Data challenge. The data scientist (lower case from herein) is using elements such as the Apache Hadoop open source software framework for storage and large-scale processing of data-sets on clusters of commodity hardware. On top of Hadoop the data scientist is using In-Database and Hadoop In-Memory Analytics to start to uncover patterns and anomalies to get new insights and make decisions based on facts discovered.
The data scientist uses Data Vizualization tools to (in theory if he/she does it right) begin to uncover patterns in both internal and external data and start to perceive and act upon the resulting analytics at hand. These same analytics tools can of course be turned inwards so-to-speak and focused on the firm's own operations to uncover trends and perceive and predict actions that could and should be taken to maximize profitability and welfare of employees and customers.
Analytics used at its most effective level becomes a tool for firms to drive their ability to compete and innovate.
Nobody's perfect (with data analytics) yet
This is the pure (as opposed to applied) theory of data analytics where it sits in perfect post-deployment harmony inside a Hadoop (or other) managed Big Data framework. Not all of this theorizing is easy to pull off over night and we know that Hadoop installations are complex by their very nature. But taking the purist pure view is a good exercise to undertake at this comparatively still early stage for cloud, Big Data and analytics (and let's not forget mobile too). We need to discuss what is possible and then see how close we can get to perfect.
In this new world of business is it now fair to table our opening gambit again? Have the fundamental mechanics of business changed? For many real-world businesses today there is now an open admission and acceptance that data is the greatest commercial asset that they have. Not every firm has complete control of its data asset base, but this is precisely why we are having this discussion.
The fundamental mechanics of business have changed and the non-data centric company will ultimately be history. Soon after that, the non-analytics company will also be a distant memory. Senior management is (largely) agreeing with the need to shift resources toward data-driven decision making and wider Line-of-Business strategies are also falling in line.
A mindset for the future
The sophisticated data analysis innovator has fine-grained business control and a stable strategic growth path planned out that is capable of constant and continuous dynamic change. We're not re-inventing the light bulb or the wheel today, but we are re-inventing our core operational business ethos and mindset. Nonbelievers in the data revolution will be historical figures sooner than they think.
This post is brought to you by SAS.
SAS is a leader in business analytics software and services and the largest independent vendor in the business intelligence market.
Compute virtualization has been transformational, yet security policy implementation and enforcement has lagged behind in agility and automation. There are a number of key considerations when implementing policy in private and hybrid clouds. In his session at 15th Cloud Expo, Holland Barry, VP of Technology at Catbird, will discuss the impact of this new paradigm and what organizations can do today to safely move to software-defined network and compute architectures, including: How normal ope...
Oct. 31, 2014 11:00 PM EDT Reads: 1,816
Can we look to the paradigm of cloud computing from a completely different perspective? In his General Session at 15th Cloud Expo, Gundars Kulups, Sales Director at DEAC, will discuss what we can learn from our dining habits when choosing a cloud solution. Gundars Kulups is Sales Director at DEAC, full service data center operator. An IT expert, he specializes in European countries and has worked in the IT industry since 1992. He graduated from Riga Technical University (RTU) in Latvia and com...
Oct. 31, 2014 10:00 PM EDT Reads: 1,014
SYS-CON Events announced today that SOA Software, an API management leader, will exhibit at SYS-CON's 15th International Cloud Expo®, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. SOA Software is a leading provider of API Management and SOA Governance products that equip business to deliver APIs and SOA together to drive their company to meet its business strategy quickly and effectively. SOA Software’s technology helps businesses to accel...
Oct. 31, 2014 07:15 PM EDT Reads: 2,119
As cloud gives an opportunity to businesses to buy services externally - how is cloud impacting your customers? In his General Session at 15th Cloud Expo, Fabio Gori, Director of Worldwide Cloud Marketing at Cisco, will provide answers to big questions: Do you see hybrid cloud as where the world is going? What benefits does it bring? And how does Cisco connect all of these clouds? He will also tell us everything about Intercloud and Cisco investment on it.
Oct. 31, 2014 07:00 PM EDT Reads: 1,142
SYS-CON Events announced today that Aria Systems, the recurring revenue expert, has been named "Bronze Sponsor" of SYS-CON's 15th International Cloud Expo®, which will take place on November 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Aria Systems helps leading businesses connect their customers with the products and services they love. Industry leaders like Pitney Bowes, Experian, AAA NCNU, VMware, HootSuite and many others choose Aria to power their recurring revenue bu...
Oct. 31, 2014 06:30 PM EDT Reads: 2,197
SYS-CON Events announced today that TMCnet has been named “Media Sponsor” of SYS-CON's 15th International Cloud Expo®, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Technology Marketing Corporation (TMC) is the world's leading business to business and integrated marketing media company, servicing niche markets within the communications and technology industries.
Oct. 31, 2014 06:30 PM EDT Reads: 1,085
SYS-CON Events announced today that Parasoft will exhibit at SYS-CON's 15th International Cloud Expo®, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. For 27 years, Parasoft has researched and developed software solutions that help organizations deliver defect-free software efficiently. By integrating Development Testing, API/cloud/SOA/composite app testing, and service virtualization, we reduce the time, effort, and cost of delivering secur...
Oct. 31, 2014 05:00 PM EDT Reads: 1,206
The Internet of Things (IoT) promises to evolve the way the world does business; however, understanding how to apply it to your company can be a mystery. Most people struggle with understanding the potential business uses or tend to get caught up in the technology, resulting in solutions that fail to meet even minimum business goals. In his session at Internet of @ThingsExpo, Jesse Shiah, CEO / President / Co-Founder of AgilePoint Inc., will show what is needed to leverage the IoT to transform...
Oct. 31, 2014 04:00 PM EDT Reads: 1,639
SYS-CON Events announced today that Utimaco will exhibit at SYS-CON's 15th International Cloud Expo®, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Utimaco is a leading manufacturer of hardware based security solutions that provide the root of trust to keep cryptographic keys safe, secure critical digital infrastructures and protect high value data assets. Only Utimaco delivers a general-purpose hardware security module (HSM) as a customiz...
Oct. 31, 2014 03:00 PM EDT Reads: 1,980
One of the biggest challenges when developing connected devices is identifying user value and delivering it through successful user experiences. In his session at Internet of @ThingsExpo, Mike Kuniavsky, Principal Scientist, Innovation Services at PARC, will describe an IoT-specific approach to user experience design that combines approaches from interaction design, industrial design and service design to create experiences that go beyond simple connected gadgets to create lasting, multi-devic...
Oct. 31, 2014 02:00 PM EDT Reads: 1,848
Until recently, many organizations required specialized departments to perform mapping and geospatial analysis, and they used Esri on-premise solutions for that work. In his session at 15th Cloud Expo, Dave Peters, author of the Esri Press book Building a GIS, System Architecture Design Strategies for Managers, will discuss how Esri has successfully included the cloud as a fully integrated SaaS expansion of the ArcGIS mapping platform. Organizations that have incorporated Esri cloud-based appl...
Oct. 31, 2014 01:30 PM EDT Reads: 2,185
Once the decision has been made to move part or all of a workload to the cloud, a methodology for selecting that workload needs to be established. How do you move to the cloud? What does the discovery, assessment and planning look like? What workloads make sense? Which cloud model makes sense for each workload? What are the considerations for how to select the right cloud model? And how does that fit in with the overall IT tranformation? In his session at 15th Cloud Expo, John Hatem, head of V...
Oct. 31, 2014 01:00 PM EDT Reads: 1,920
Dyn solutions are at the core of Internet Performance. Through traffic management, message management and performance assurance, Dyn is connecting people through the Internet and ensuring information gets where it needs to go, faster and more reliably than ever before. Founded in 2001 at WPI, Dyn’s global presence services more than four million enterprise, small business and personal customers.
Oct. 31, 2014 01:00 PM EDT Reads: 2,026
IBM and Tencent Cloud signed a business cooperation memorandum to collaborate on providing public cloud with Software-as-a-Service solutions for industries. Both parties agreed to focus on emerging small and medium enterprises in the smarter cities and smarter healthcare industries as well as other fields. This will enable these industries to utilize mobile, cloud computing and big data tools to transform internal processes and operations, thus achieving cloud transformation in the era of mobili...
Oct. 31, 2014 11:58 AM EDT Reads: 857
SimpleECM is the only platform to offer a powerful combination of enterprise content management (ECM) services, capture solutions, and third-party business services providing simplified integrations and workflow development for solution providers. SimpleECM is opening the market to businesses of all sizes by reinventing the delivery of ECM services. Our APIs make the development of ECM services simple with the use of familiar technologies for a frictionless integration directly into web applicat...
Oct. 31, 2014 11:00 AM EDT Reads: 2,004
European data center operator DEAC is the largest in the Baltics. The activities are orientated to provide data center services and IT outsourcing on Eurasia and America scale in order to create the primary or backup or additional data center for customer in the EU, to protect its business and, most importantly, reduce costs up to 40% within 3-5 years. DEAC is an IT outsourcing services and solutions company whose highly experienced and qualified employees offer various groups of services and...
Oct. 31, 2014 09:45 AM EDT Reads: 2,305
The Internet of Things will greatly expand the opportunities for data collection and new business models driven off of that data. In her session at Internet of @ThingsExpo, Esmeralda Swartz, CMO of MetraTech, will discuss how for this to be effective you not only need to have infrastructure and operational models capable of utilizing this new phenomenon, but increasingly service providers will need to convince a skeptical public to participate. Get ready to show them the money! Speaker Bio: ...
Oct. 31, 2014 09:00 AM EDT Reads: 2,352
Samsung VP Jacopo Lenzi, who headed the company's recent SmartThings acquisition under the auspices of Samsung's Open Innovaction Center (OIC), answered a few questions we had about the deal. This interview was in conjunction with our interview with SmartThings CEO Alex Hawkinson. IoT Journal: SmartThings was developed in an open, standards-agnostic platform, and will now be part of Samsung's Open Innovation Center. Can you elaborate on your commitment to keep the platform open? Jacopo Lenzi: S...
Oct. 31, 2014 09:00 AM EDT Reads: 3,400
The major cloud platforms defy a simple, side-by-side analysis. Each of the major IaaS public-cloud platforms offers their own unique strengths and functionality. Options for on-site private cloud are diverse as well, and must be designed and deployed while taking existing legacy architecture and infrastructure into account. Then the reality is that most enterprises are embarking on a hybrid cloud strategy and programs. In this Power Panel at 15th Cloud Expo, moderated by Ashar Baig, Research ...
Oct. 31, 2014 09:00 AM EDT Reads: 1,434
Things are being built upon cloud foundations to transform organizations. This CEO Power Panel at 15th Cloud Expo, moderated by Roger Strukhoff, Cloud Expo and @ThingsExpo conference chair, will address the big issues involving these technologies and, more important, the results they will achieve. How important are public, private, and hybrid cloud to the enterprise? How does one define Big Data? And how is the IoT tying all this together?
Oct. 31, 2014 08:45 AM EDT Reads: 2,021