|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.
Akana, a leading provider of API Management, API Security and Cloud Integration solutions, announced that it is introducing DevOps automation to the API lifecycle. New capabilities in Akana's API Management platform significantly reduce the time required to update API definitions and versions. DevOps teams will be able to work faster in designing and developing APIs, as well as managing them at runtime and publishing them to a portal.
Jun. 2, 2015 01:15 PM EDT Reads: 1,026
2015 predictions circa 1970: houses anticipate our needs and adapt, city infrastructure is citizen and situation aware, office buildings identify and preprocess you. Today smart buildings have no such collective conscience, no shared set of fundamental services to identify, predict and synchronize around us. LiveSpace and M2Mi are changing that. LiveSpace Smart Environment devices deliver over the M2Mi IoT Platform real time presence, awareness and intent analytics as a service to local connected devices. In her session at @ThingsExpo, Sarah Cooper, VP Business of Development at M2Mi, will d...
Jun. 2, 2015 01:00 PM EDT Reads: 1,736
DevOps Summit at Cloud Expo New York is offering a limited time FREE "Expo Plus" registration option in New York. On site registration price of $1,95 will be set to 'free' for delegates who register during special offer. To take advantage of this opportunity, attendees can use the coupon code, and secure their registration to attend all keynotes, @DevOpsSummit sessions at Cloud Expo, expo floor, and SYS-CON.tv power panels. Special FREE registration givess access to all Containers and Microservices sessions. Registration page is located at the DevOps Summit site. Your DevOps Summit registratio...
Jun. 2, 2015 01:00 PM EDT Reads: 1,695
"Matrix is an ambitious open standard and implementation that's set up to break down the fragmentation problems that exist in IP messaging and VoIP communication," explained John Woolf, Technical Evangelist at Matrix, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Jun. 2, 2015 01:00 PM EDT Reads: 4,565
The only place to be Nov 3-5 is Cloud Expo | @ThingsExpo | DevOps Summit 2015 West at the Santa Clara Convention Center in Santa Clara, CA. Join us there as delegates from all over the world come to listen to and engage with speakers & sponsors from the leading Cloud Computing, IoT, Big Data and DevOps companies. Cloud Expo & @ThingsExpo are the leading events covering the booming market of Cloud Computing, IoT & Big Data for the enterprise. Speakers from all over the world will be hand-picked for their ability to explore the economic strategies that utility/cloud computing provides. Whether...
Jun. 2, 2015 12:45 PM EDT Reads: 2,376
The basic integration architecture, as defined by ESBs, hasn’t changed for more than a decade. Most cloud integration providers still rely on an ESB architecture and their proprietary connectors. As a result, enterprise integration projects suffer from constraints of availability and reliability of these connectors that are not re-usable across other integration vendors. However, the rapid adoption of APIs and almost ubiquitous availability of APIs amongst most SaaS and Cloud applications are rapidly redefining traditional integration approaches and their reliance on proprietary connectors. ...
Jun. 2, 2015 12:45 PM EDT Reads: 1,154
The world is at a tipping point where the technology, the device and global adoption are converging to such a point that we will see an explosion of a world where smartphone devices not only allow us to talk to each other, but allow for communication between everything – serving as a central hub from which we control our world – MediaTek is at the heart of both driving this and allowing the markets to drive this reality forward themselves. The next wave of consumer gadgets is here – smart, connected, and small. If your ambitions are big, so are ours. In his session at @ThingsExpo, Jack Hu, D...
Jun. 2, 2015 12:45 PM EDT Reads: 1,892
The enterprise market will drive IoT device adoption over the next five years. In his session at @ThingsExpo, John Greenough, an analyst at BI Intelligence, division of Business Insider, will analyze how companies will adopt IoT products and the associated cost of adopting those products. John Greenough is the lead analyst covering the Internet of Things for BI Intelligence- Business Insider’s paid research service. Numerous IoT companies have cited his analysis of the IoT. Prior to joining BI Intelligence, he worked analyzing bank technology for Corporate Insight and The Clearing House Pay...
Jun. 2, 2015 12:30 PM EDT Reads: 1,488
SYS-CON Events announced today that the "First Containers & Microservices Conference" will take place June 9-11, 2015, at the Javits Center in New York City. The “Second Containers & Microservices Conference” will take place November 3-5, 2015, at Santa Clara Convention Center, Santa Clara, CA. Containers and microservices have become topics of intense interest throughout the cloud developer and enterprise IT communities.
Jun. 2, 2015 12:15 PM EDT Reads: 1,564
Explosive growth in connected devices. Enormous amounts of data for collection and analysis. Critical use of data for split-second decision making and actionable information. All three are factors in making the Internet of Things a reality. Yet, any one factor would have an IT organization pondering its infrastructure strategy. How should your organization enhance its IT framework to enable an Internet of Things implementation? In this session, James Kirkland, Red Hat's Chief Architect for the Internet of Things and Intelligent Systems, will describe how to revolutionize your architecture and...
Jun. 2, 2015 12:00 PM EDT Reads: 1,907
All major researchers estimate there will be tens of billions devices - computers, smartphones, tablets, and sensors - connected to the Internet by 2020. This number will continue to grow at a rapid pace for the next several decades. With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo, June 9-11, 2015, at the Javits Center in New York City. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be
Jun. 2, 2015 12:00 PM EDT Reads: 3,488
SYS-CON Events announced today that MetraTech, now part of Ericsson, has been named “Silver Sponsor” of SYS-CON's 16th International Cloud Expo®, which will take place on June 9–11, 2015, at the Javits Center in New York, NY. Ericsson is the driving force behind the Networked Society- a world leader in communications infrastructure, software and services. Some 40% of the world’s mobile traffic runs through networks Ericsson has supplied, serving more than 2.5 billion subscribers.
Jun. 2, 2015 12:00 PM EDT Reads: 2,911
ThingsExpo New York is offering a limited time FREE "Expo Plus" registration option in New York. On site registration price of $1,95 will be set to 'free' for delegates who register during special offer. To take advantage of this opportunity, attendees can use the coupon code, and secure their registration to attend all keynotes, ThingsExpo sessions, expo floor, and SYS-CON.tv power panels. Special FREE registration givess access to all DevOps, Containers and Microservices sessions as well. Registration page is located at the ThingsExpo site.
Jun. 2, 2015 12:00 PM EDT Reads: 1,785
"BSQUARE is in the business of selling software solutions for smart connected devices. It's obvious that IoT has moved from being a technology to being a fundamental part of business, and in the last 18 months people have said let's figure out how to do it and let's put some focus on it, " explained Dave Wagstaff, VP & Chief Architect, at BSQUARE Corporation, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Jun. 2, 2015 12:00 PM EDT Reads: 3,959
Growth hacking is common for startups to make unheard-of progress in building their business. Career Hacks can help Geek Girls and those who support them (yes, that's you too, Dad!) to excel in this typically male-dominated world. Get ready to learn the facts: Is there a bias against women in the tech / developer communities? Why are women 50% of the workforce, but hold only 24% of the STEM or IT positions? Some beginnings of what to do about it!
Jun. 2, 2015 12:00 PM EDT Reads: 1,541
SYS-CON Events announced today that O'Reilly Media has been named “Media Sponsor” of SYS-CON's 16th International Cloud Expo®, which will take place on June 9–11, 2015, at the Javits Center in New York City, NY. O'Reilly Media spreads the knowledge of innovators through its books, online services, magazines, and conferences. Since 1978, O'Reilly Media has been a chronicler and catalyst of cutting-edge development, homing in on the technology trends that really matter and spurring their adoption by amplifying "faint signals" from the alpha geeks who are creating the future. An active participa...
Jun. 2, 2015 11:30 AM EDT Reads: 1,998
There will be 150 billion connected devices by 2020. New digital businesses have already disrupted value chains across every industry. APIs are at the center of the digital business. You need to understand what assets you have that can be exposed digitally, what their digital value chain is, and how to create an effective business model around that value chain to compete in this economy. No enterprise can be complacent and not engage in the digital economy. Learn how to be the disruptor and not the disruptee.
Jun. 2, 2015 11:00 AM EDT Reads: 1,686
The Internet of Things is not only adding billions of sensors and billions of terabytes to the Internet. It is also forcing a fundamental change in the way we envision Information Technology. For the first time, more data is being created by devices at the edge of the Internet rather than from centralized systems. What does this mean for today's IT professional? In this Power Panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists will addresses this very serious issue of profound change in the industry.
Jun. 2, 2015 11:00 AM EDT Reads: 2,051
We’re entering a new era of computing technology that many are calling the Internet of Things (IoT). Machine to machine, machine to infrastructure, machine to environment, the Internet of Everything, the Internet of Intelligent Things, intelligent systems – call it what you want, but it’s happening, and its potential is huge. IoT is comprised of smart machines interacting and communicating with other machines, objects, environments and infrastructures. As a result, huge volumes of data are being generated, and that data is being processed into useful actions that can “command and control” thi...
Jun. 2, 2015 11:00 AM EDT Reads: 1,959
Thanks to widespread Internet adoption and more than 10 billion connected devices around the world, companies became more excited than ever about the Internet of Things in 2014. Add in the hype around Google Glass and the Nest Thermostat, and nearly every business, including those from traditionally low-tech industries, wanted in. But despite the buzz, some very real business questions emerged – mainly, not if a device can be connected, or even when, but why? Why does connecting to the cloud create greater value for the user? Why do connected features improve the overall experience? And why do...
Jun. 2, 2015 10:45 AM EDT Reads: 1,866