Big Data

Big data: The next frontier for innovation, competition, and productivity

 

The amount of data in our world has been exploding, and analyzing large data sets—so-called big data—will become a key basis of competition, underpinning new waves of productivity growth, innovation, and consumer surplus, according to research by MGI and McKinsey's Business Technology Office. Leaders in every sector will have to grapple with the implications of big data, not just a few data-oriented managers. The increasing volume and detail of information captured by enterprises, the rise of multimedia, social media, and the Internet of Things will fuel exponential growth in data for the foreseeable future.

MGI studied big data in five domains—healthcare in the United States, the public sector in Europe, retail in the United States, and manufacturing and personal-location data globally. Big data can generate value in each. For example, a retailer using big data to the full could increase its operating margin by more than 60 percent. Harnessing big data in the public sector has enormous potential, too. If US healthcare were to use big data creatively and effectively to drive efficiency and quality, the sector could create more than $300 billion in value every year. Two-thirds of that would be in the form of reducing US healthcare expenditure by about 8 percent. In the developed economies of Europe, government administrators could save more than €100 billion ($149 billion) in operational efficiency improvements alone by using big data, not including using big data to reduce fraud and errors and boost the collection of tax revenues. And users of services enabled by personal-location data could capture $600 billion in consumer surplus. The research offers seven key insights.
1. Data have swept into every industry and business function and are now an important factor of production, alongside labor and capital. We estimate that, by 2009, nearly all sectors in the US economy had at least an average of 200 terabytes of stored data (twice the size of US retailer Wal-Mart's data warehouse in 1999) per company with more than 1,000 employees.
2. There are five broad ways in which using big data can create value. First, big data can unlock significant value by making information transparent and usable at much higher frequency. Second, as organizations create and store more transactional data in digital form, they can collect more accurate and detailed performance information on everything from product inventories to sick days, and therefore expose variability and boost performance. Leading companies are using data collection and analysis to conduct controlled experiments to make better management decisions; others are using data for basic low-frequency forecasting to high-frequency nowcasting to adjust their business levers just in time. Third, big data allows ever-narrower segmentation of customers and therefore much more precisely tailored products or services. Fourth, sophisticated analytics can substantially improve decision-making. Finally, big data can be used to improve the development of the next generation of products and services. For instance, manufacturers are using data obtained from sensors embedded in products to create innovative after-sales service offerings such as proactive maintenance (preventive measures that take place before a failure occurs or is even noticed).

 

Consimerization of IT

Consumerization of IT

 

There’s a revolution taking place in IT.
The revolution is spearheaded by workers who are investing their own resources to buy, learn, and use a broad range of popular consumer technologies and application tools to get things done in the workplace.
These consumer technologies and tools are bringing down the old artificial barriers around the workplace. At work and at home and everywhere in between, tech-savvy workers and consumers are using the same powerful, widely available tools and applications – from smartphones and iPads to social networks and instant messaging - to stay informed, connected and productive in their professional as well as their personal lives. Add to that the changing usage demands of an always-on environment with anytime/anywhere access fundamentally changing support and service requirements.
This “Consumer-Powered IT” trend is already turning traditional IT models on their head. It’s a powerful new way to work that, in our view at Unisys, will transform organizations over the next three to five years and usher in a new wave of business productivity. And yet most organizations are woefully unprepared to capitalize on this powerful movement.
A recent Unisys study, conducted by IDC, exposes a troubling gap between the activities and expectations of new generations of “iWorkers” and their employers’ readiness to manage, secure, and support this movement—and capitalize on it. Capitalizing on it means; boosting productivity with new ways of connecting and sharing, staying competitive as an innovative company and workplace, and delivering IT flexibly while managing security.
Younger iWorkers are not demanding change—they are driving it through consensus usage motivated by mobility and interconnectedness. While iWorkers are intimately familiar and facile with technology, they have little understanding of the security risks, management issues, and policy and governance implications that arise from mass introduction of consumer devices and applications into the workplace.
Organizations, meanwhile, are still largely operating in the standardized, command-and-control IT models of the past. Those models are very good at managing risks and costs, but they prevent the typical organization from navigating the swift waters of breakthrough thinking and innovation being unleashed by the fourth wave of productivity.  
To harness the full power of this new wave of productivity, organizations need to modernize their IT environments in order to:

• Manage and support these popular consumer technologies;
• Secure critical data and assets against hackers, viruses, identity thieves, and other widespread consumer IT threats; 
• Offer the interactive “app” experiences that consumers are looking for when transacting with their suppliers;
• Handle the expected four-fold increase in transaction load that these new interactive experiences will impose on the IT infrastructure;
• Attract and retain the new generation of workers entering the workforce.

For organizations that embrace and capitalize on the wave of innovation being unleashed by this consumer-powered IT, the leverage is enormous - in terms of organizational flexibility, a more engaged and productive workforce, the ability to leapfrog established competitors, and, yes, even achieve cost avoidance.

 

Next Generation Network Media

The Next Generation Mobile Networks (NGMN) Alliance is a mobile telecommunications association of mobile operators, vendors, manufacturers and research institutes. It was founded by major mobile operators in 2006 as an open forum to evaluate candidate technologies to develop a common view of solutions for the next evolution of wireless networks. Its objective is to ensure the successful commercial launch of future mobile broadband networks through a roadmap for technology and friendly user trials. Its office is in Frankfurt, Germany.

Social Media

Social media includes web-based and mobile technologies used to turn communication into interactive dialogue between organizations, communities, and individuals. Andreas Kaplan and Michael Haenlein define social media as "a group of Internet-based applications that build on the ideological and technological foundations of Web, and that allow the creation and exchange of user-generated contents." Social media is ubiquitously accessible, and enabled by scalable communication techniques.

Cloud Computing

Cloud computing is a metaphor used by Technology or IT services companies for the delivery of computing requirements as a service to a homogeneous community of end-recipients. The term cloud theoretically signifies abstraction of technology, resources and its location that are very vital in building integrated computing infrastructure(including networks, systems & applications). All Cloud computing models rely heavily on sharing of resources to achieve coherance and economies and scale similar to a utility (like the electricity grid) over a network (typically the Internet.

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