While certainly exciting, buying a new house, can also serve as a revealing exercise in understanding data science.
A couple of weeks ago I went to my bank to investigate my financial options for buying a new house. To my surprise, my account manager gave me a stack of paperwork to fill out—and I soon realized that my bank was already in possession of 90 percent of the information I was being asked to provide. So why was I having to take the time to fill in information the bank already had, or could easily acquire? And more importantly, why couldn’t my account manager quickly access information about my client status and my personal preferences, and immediately provide a tailored offering, decreasing the chance that I would look elsewhere for this service?
Figure 1. Centralized, Decentralized, and Distributed Networks. A distributed, virtualized approach to database management enables quick combination and analysis of large volumes of data—where and when it is needed.
Source: Paul Baran, Rand Corporation.
I wrote in one of my recent blogs about the issues and solutions related to quickly combining data that comes in large volumes by focusing on data virtualization and cloud. This can enable seamless customer interactions and decrease client churn, be it in financial services or in the telecom sector. But what is required at an organizational level so that people, process, data, and things come together to enable a superior customer experience and create entirely new revenue possibilities?
Read More »
Tags: analytics, Big Data, Center of Competence, Cisco, Cisco Consulting Services, distributed data, distributed networks, Internet of Everything, personalized customer experience, virtualization
On a typical day, we hold in our hands a portal to our civilization’s entire trove of information and entertainment — and a window into our finances, our health, and the lives of our friends. Not to mention, the ability to make a purchase anywhere and anytime the whim strikes us.
To say that our personal devices have become an integral part of our lives is a vast understatement. But get ready for an even bigger wave of change. Mobile is poised to become ever more ubiquitous. But the focus will be less on the device itself, and more on its role as a critical enabler in the connected world of the Internet of Everything (IoE).
Read More »
Tags: Big Data, brand loyalty, Cisco, Cisco Consulting Services, innovation, Internet of Everything, internet of things, IoE, IoE Value Index, IoT, retail, value at stake
It’s great to stay in shape at the gym and pick out stylish clothes. But more and more, the personal image that really counts is digital.
That’s because the Internet of Everything (IoE) era demands new ways of looking at, well, just about everything. And everything includes you. In an expanding universe of new connections, each of us needs to ask, just where do I fit? And how am I being viewed?
In short, what is my digital persona?
The ways in which we are seen online have assumed acute importance in recent years, and that only stands to increase. Therefore, our digital personas have to be cultivated and maintained, just as we care for our images in the physical world.
In career terms, for example, you may be known in your daily work life as a good leader. But the physical world has limited reach. If there is no evidence of that in the digital world, you will be in trouble, especially if you happen to be looking for a new job. Recruiters, of course, know that they can do an instant search and start compiling your digital profile within seconds. If you say you’re an expert or a good manager, your digital persona had better back it.
According to some recent research, job recruiters are turning more and more to Facebook, which by some measures is becoming even more impactful for employment purposes than LinkedIn. So, if the personal social media site can actually trump the professional social media site, think twice before you post those Spring Break photos.
As the consumerization of IT extends ever further into the workplace — via personal devices, social media, and so forth — the blurring of the personal and the professional will only continue. As a result, everyone must be aware that personal actions have an impact comparable to professional achievements. And the digital trail that you leave behind every day influences how you are perceived in the marketplace.
Read More »
Tags: Big Data, Cisco, Cisco Consulting Services, innovation, Internet of Everything, IoE, IoE Value Index, IoT, privacy, security, value at stake
Sooner or later we all feel like throwing up our hands and cursing the complexity of modern life. But while technology may seem the chief culprit in making things unmanageable, it is also the ultimate solution to complexity.
In the Internet of Everything (IoE) era, it is particularly important for business leaders to understand the power of technology to simplify our lives and support informed decision making. And this was a core theme at Sapphire Now 2014, an event in Orlando, Fla., that I was privileged to attend last week.
By using network technology to integrate people, process, data, and things, IoE counters complexity in unprecedented ways. In a city, this can involve something as simple as cutting the time it takes to find a (connected) parking space. Or IoE technologies can scale up to reroute traffic lights; for example, to head-off highway backups before, during, and after a large event.
In a brick-and-mortar retail setting (a key area of discussion at Sapphire Now), IoE can alleviate the complexity of managing customers, staffing, and products. With data from multiple sources comes heightened, real-time awareness, empowering managers to react faster than ever. For example, they can then stock shelves and reorganize staff in response to constantly changing levels of demand. With predictive analytics they can even respond before a customer rush begins.
The idea of hyper-aware, real-time decision-making resonated during a Sapphire Now panel discussion titled Thrive in the Digital Networks of the New Economy. I was honored to share the panel with such luminaries as Erik Brynjolfsson of MIT; Michael Chui of McKinsey Global Institute; and Jai Shekhawat, Deepak Krishnamurthy, and Vivek Bapat of SAP. And there was much discussion on the impact of bad decisions on failed organizations. Which is why we all take such an interest in technology that enables good ones.
Read More »
Tags: asset utilization, Big Data, Cisco, Cisco Consulting Services, connected supply chain, customer experience, decision making, employee productivity, innovation, Internet of Everything, internet of things, IoE, IoE Value Index, IoT, Manufacturing, retail, Smart Cities, supply chain, value at stake
In a typical week, I spend about 70 percent of my waking hours on work-related matters. Another 50 percent is devoted to my family. Which leaves 20 percent for taking care of the household, and ….
Yes, that adds up to more that 100 percent. But there simply aren’t enough hours in a day for all that needs to be done — not to mention protecting that crucial time with loved ones.
So, thank you, multitasking! I can’t be the only one who has held a child while writing emails, taken conference calls from the supermarket, or had several online meetings running simultaneously.
All of this occurred to me as I struggled to find time for this blog. Writing forces me to shut off everything around me and reflect on the things that really matter — in a world that is rapidly changing, increasingly complex, and in which technology can sometimes seem a mixed blessing. When I do finally carve out an opportunity to write, it is precious time, which I cherish.
But writing is hard. Trust me, I’ve thought about creating a blog for years, and my past is riddled with failed attempts to start. Each time, I hesitated for too long, wondering whether people would really want to hear what I have to say. Like many writers, I have wondered if my compositions were too long, too short, too personal, too corporate, too banal, too deep ….
But as much as I appreciate your attention, dear reader, this time around I realize that I am writing the blog for me, the writer. Like many of us, I navigate a harried, high-pressure life. And this blog is my time, my space, to do something creative and expressive.
Read More »
Tags: Big Data, Cisco Consulting Services, connected retail, Internet of Everything, Smart Cities