Spend Pennies In The Cloud For Big Data Analytics

Irfan Khan

Image Source: StockbyteWhether your company is big or small, innovation will make you successful. Gaining insights about your market before your competitors will give you a distinct advantage in delivering exciting new products and services to your customers. And, in my experience, there’s no surer way to gain insights – and innovate – than by analyzing data that’s critical to your business.

The problem is that, even in smaller organizations, the amount of data is staggering. Without advanced technology, analyzing enough of it is a serious challenge. But in the real world, most small and medium business executives balk at the IT commitment necessary to deploy a state-of-the-art in-memory database appliance, especially one that is unlikely to have the utilization it would in a large company. The upfront capital cost for servers and software can be a barrier to some; for others, the scarcity of IT talent to support the technology holds people back. The barriers to deployment are steep.

Or were. Cloud computing has blown apart those barriers.

Now you can get the most advanced analytics in-memory database on the market for less than one dollar per hour. Through Amazon Web Services, companies can test drive SAP HANA, the world’s most powerful database, on big slices of their data using an array of SAP tools, such as SAP BusinessObjects, to glean knowledge about their business.

All you need is a credit card number and some data to become a user of the most advanced database available. Not that long ago, advanced software was either too expensive or too complex for small and medium businesses. Cloud computing has leveled the technology playing field for all companies.

But this new service is not just for smaller enterprises with modest IT budgets. It’s also a tried-and-true method for larger organizations to, for example, quickly develop and test application prototypes without having to make a large-scale investment before the application concept is field-proven.

Cloud computing does impose modest performance overhead versus having HANA running in-house. Estimates are less than a 5% penalty. But when the database is delivering performance improvements of 20-to-200 times (and higher), 5% will not be noticed.

Image Source: Stockbyte


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13 Scary Statistics On Employee Engagement [INFOGRAPHIC]

Jacob Shriar

There is a serious problem with the way we work.

Most employees are disengaged and not passionate about the work they do. This is costing companies a ton of money in lost productivity, absenteeism, and turnover. It’s also harmful to employees, because they’re more stressed out than ever.

The thing that bothers me the most about it, is that it’s all so easy to fix. I can’t figure out why managers aren’t more proactive about this. Besides the human element of caring for our employees, it’s costing them money, so they should care more about fixing it. Something as simple as saying thank you to your employees can have a huge effect on their engagement, not to mention it’s good for your level of happiness.

The infographic that we put together has some pretty shocking statistics in it, but there are a few common themes. Employees feel overworked, overwhelmed, and they don’t like what they do. Companies are noticing it, with 75% of them saying they can’t attract the right talent, and 83% of them feeling that their employer brand isn’t compelling. Companies that want to fix this need to be smart, and patient. This doesn’t happen overnight, but like I mentioned, it’s easy to do. Being patient might be the hardest thing for companies, and I understand how frustrating it can be not to see results right away, but it’s important that you invest in this, because the ROI of employee engagement is huge.

Here are 4 simple (and free) things you can do to get that passion back into employees. These are all based on research from Deloitte.

1.  Encourage side projects

Employees feel overworked and underappreciated, so as leaders, we need to stop overloading them to the point where they can’t handle the workload. Let them explore their own passions and interests, and work on side projects. Ideally, they wouldn’t have to be related to the company, but if you’re worried about them wasting time, you can set that boundary that it has to be related to the company. What this does, is give them autonomy, and let them improve on their skills (mastery), two of the biggest motivators for work.

Employees feel overworked and underappreciated, so as leaders, we need to stop overloading them to the point where they can’t handle the workload.

2.  Encourage workers to engage with customers

At Wistia, a video hosting company, they make everyone in the company do customer support during their onboarding, and they often rotate people into customer support. When I asked Chris, their CEO, why they do this, he mentioned to me that it’s so every single person in the company understands how their customers are using their product. What pains they’re having, what they like about it, it gets everyone on the same page. It keeps all employees in the loop, and can really motivate you to work when you’re talking directly with customers.

3.  Encourage workers to work cross-functionally

Both Apple and Google have created common areas in their offices, specifically and strategically located, so that different workers that don’t normally interact with each other can have a chance to chat.

This isn’t a coincidence. It’s meant for that collaborative learning, and building those relationships with your colleagues.

4.  Encourage networking in their industry

This is similar to number 2 on the list, but it’s important for employees to grow and learn more about what they do. It helps them build that passion for their industry. It’s important to go to networking events, and encourage your employees to participate in these things. Websites like Eventbrite or Meetup have lots of great resources, and most of the events on there are free.

13 Disturbing Facts About Employee Engagement [Infographic]

What do you do to increase employee engagement? Let me know your thoughts in the comments!

Did you like today’s post? If so you’ll love our frequent newsletter! Sign up here and receive The Switch and Shift Change Playbook, by Shawn Murphy, as our thanks to you!

This infographic was crafted with love by Officevibe, the employee survey tool that helps companies improve their corporate wellness, and have a better organizational culture.


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Supply Chain Fraud: The Threat from Within

Lindsey LaManna

Supply chain fraud – whether perpetrated by suppliers, subcontractors, employees, or some combination of those – can take many forms. Among the most common are:

  • Falsified labor
  • Inflated bills or expense accounts
  • Bribery and corruption
  • Phantom vendor accounts or invoices
  • Bid rigging
  • Grey markets (counterfeit or knockoff products)
  • Failure to meet specifications (resulting in substandard or dangerous goods)
  • Unauthorized disbursements

LSAP_Smart Supply Chains_graphics_briefook inside

Perhaps the most damaging sources of supply chain fraud are internal, especially collusion between an employee and a supplier. Such partnerships help fraudsters evade independent checks and other controls, enabling them to steal larger amounts. The median loss from fraud committed
by a single thief was US$80,000, according to the Association of Certified Fraud Examiners (ACFE).

Costs increase along with the number of perpetrators involved. Fraud involving two thieves had a median loss of US$200,000; fraud involving three people had a median loss of US$355,000; and fraud with four or more had a median loss of more than US$500,000, according to ACFE.

Build a culture to fight fraud

The most effective method to fight internal supply chain theft is to create a culture dedicated to fighting it. Here are a few ways to do it:

  • Make sure the board and C-level executives understand the critical nature of the supply chain and the risk of fraud throughout the procurement lifecycle.
  • Market the organization’s supply chain policies internally and among contractors.
  • Institute policies that prohibit conflicts of interest, and cross-check employee and supplier data to uncover potential conflicts.
  • Define the rules for accepting gifts from suppliers and insist that all gifts be documented.
  • Require two employees to sign off on any proposed changes to suppliers.
  • Watch for staff defections to suppliers, and pay close attention to any supplier that has recently poached an employee.

About Lindsey LaManna

Lindsey LaManna is Social and Reporting Manager for the Digitalist Magazine by SAP Global Marketing. Follow @LindseyLaManna on Twitter, on LinkedIn or Google+.


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Data Analysts And Scientists More Important Than Ever For The Enterprise

Daniel Newman

The business world is now firmly in the age of data. Not that data wasn’t relevant before; it was just nowhere close to the speed and volume that’s available to us today. Businesses are buckling under the deluge of petabytes, exabytes, and zettabytes. Within these bytes lie valuable information on customer behavior, key business insights, and revenue generation. However, all that data is practically useless for businesses without the ability to identify the right data. Plus, if they don’t have the talent and resources to capture the right data, organize it, dissect it, draw actionable insights from it and, finally, deliver those insights in a meaningful way, their data initiatives will fail.

Rise of the CDO

Companies of all sizes can easily find themselves drowning in data generated from websites, landing pages, social streams, emails, text messages, and many other sources. Additionally, there is data in their own repositories. With so much data at their disposal, companies are under mounting pressure to utilize it to generate insights. These insights are critical because they can (and should) drive the overall business strategy and help companies make better business decisions. To leverage the power of data analytics, businesses need more “top-management muscle” specialized in the field of data science. This specialized field has lead to the creation of roles like Chief Data Officer (CDO).

In addition, with more companies undertaking digital transformations, there’s greater impetus for the C-suite to make data-driven decisions. The CDO helps make data-driven decisions and also develops a digital business strategy around those decisions. As data grows at an unstoppable rate, becoming an inseparable part of key business functions, we will see the CDO act as a bridge between other C-suite execs.

Data skills an emerging business necessity

So far, only large enterprises with bigger data mining and management needs maintain in-house solutions. These in-house teams and technologies handle the growing sets of diverse and dispersed data. Others work with third-party service providers to develop and execute their big data strategies.

As the amount of data grows, the need to mine it for insights becomes a key business requirement. For both large and small businesses, data-centric roles will experience endless upward mobility. These roles include data anlysts and scientists. There is going to be a huge opportunity for critical thinkers to turn their analytical skills into rapidly growing roles in the field of data science. In fact, data skills are now a prized qualification for titles like IT project managers and computer systems analysts.

Forbes cited the McKinsey Global Institute’s prediction that by 2018 there could be a massive shortage of data-skilled professionals. This indicates a disruption at the demand-supply level with the needs for data skills at an all-time high. With an increasing number of companies adopting big data strategies, salaries for data jobs are going through the roof. This is turning the position into a highly coveted one.

According to Harvard Professor Gary King, “There is a big data revolution. The big data revolution is that now we can do something with the data.” The big problem is that most enterprises don’t know what to do with data. Data professionals are helping businesses figure that out. So if you’re casting about for where to apply your skills and want to take advantage of one of the best career paths in the job market today, focus on data science.

I’m compensated by University of Phoenix for this blog. As always, all thoughts and opinions are my own.

For more insight on our increasingly connected future, see The $19 Trillion Question: Are You Undervaluing The Internet Of Things?

The post Data Analysts and Scientists More Important Than Ever For the Enterprise appeared first on Millennial CEO.


About Daniel Newman

Daniel Newman serves as the Co-Founder and CEO of EC3, a quickly growing hosted IT and Communication service provider. Prior to this role Daniel has held several prominent leadership roles including serving as CEO of United Visual. Parent company to United Visual Systems, United Visual Productions, and United GlobalComm; a family of companies focused on Visual Communications and Audio Visual Technologies. Daniel is also widely published and active in the Social Media Community. He is the Author of Amazon Best Selling Business Book "The Millennial CEO." Daniel also Co-Founded the Global online Community 12 Most and was recognized by the Huffington Post as one of the 100 Business and Leadership Accounts to Follow on Twitter. Newman is an Adjunct Professor of Management at North Central College. He attained his undergraduate degree in Marketing at Northern Illinois University and an Executive MBA from North Central College in Naperville, IL. Newman currently resides in Aurora, Illinois with his wife (Lisa) and his two daughters (Hailey 9, Avery 5). A Chicago native all of his life, Newman is an avid golfer, a fitness fan, and a classically trained pianist

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Three Reasons Why The Internet Of Things Is Showing Hockey Stick Growth

Paul Clark

The already massive amount of data being produced daily is going to proliferate with the growth of the Internet of Things (IoT). An innovative infrastructure must be able to accommodate the billions of connected devices being introduced worldwide that will generate unfathomable amounts of data.

“Within the next three years, the data created by IoT devices will reach 403 trillion gigabytes annually.”
– 99 Mind-Blowing Ways the Digital Economy is Changing the Future of Business, Source: Cisco, Global Cloud Index

Less than five years ago, Big Data was thought of as a data management challenge. Today, supercomputing power is everywhere, microprocessors are in every device, computers can be scaled as needed, and in-memory, real-time computing solutions are revolutionizing business software. As a result, data volumes are expected to grow to 6 billion petabytes, including unstructured data such as social networking and low-level IoT data.

The concept of IoT is not new, but what is new are the factors contributing to the popularity of IoT. The SAP eBook, Digital Disruption: How Digital Technology is Transforming Our World, says the extensive growth in the IoT market is due to three main factors:

  1. Inexpensive sensors. The cost of product sensors has dropped dramatically, allowing even startups to easily create innovative IoT product applications.
  1. Stronger computing power. Analytics and in-memory computing solutions enable the computing power necessary to gain insightful meaning from big data and data lakes in real time.
  1. Internet protocol IPv6. The new IPv6 enables immense IoT expansion by increasing IP addresses from 32 bits to 128 bits, which could support up to 78 octillion Internet addresses, allowing an almost unlimited number of people, processes, data, and things to be connected to the Internet.

How to manage it all

As everything becomes more connected, how will we use and manage this unprecedented amount of data? Data management and in-memory computing solutions are increasingly essential tools. They enable companies to unlock immense value from the volumes of data being collected from an escalating number of sources such as product sensors, mobile devices, machines, asset monitors, computers, and social media platforms.

New advances in in-memory computing technology delivering enriched interactive analytics will make it easier for businesses to combine structured transactional data from existing applications with new contextual data from multiple other sources, including IoT applications.

As the number of IoT sensors increases, the amount of information created from this exponential growth in IoT is sure to bring new meaning to the term “Big Data.”

Learn more about IoT, data analytics, and other facets of digital transformation in the SAP eBook Digital Disruption: How Digital Technology is Transforming Our World.


About Paul Clark

Paul Clark is responsible for developing and executing partner marketing strategies, activities, and programs in joint go-to-market plans with global technology partners. The goal is to increase opportunities, pipeline, and revenue through demand generation via SAP's global and local partner ecosystems.

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