What’s the problem with Big Data? You guessed right — it’s BIG.
Big Data empowers organizations to discern patterns that were once invisible, leading to breakthrough ideas and transformed business performance. But there is simply so much of it, and from such myriad sources — customers, competitors, mobile, social, web, transactional, operational, internal, external, structured, and unstructured — that, for many organizations, Big Data is overwhelming. The torrents of data will only increase as the Internet of Everything spreads its ever-expanding wave of connectivity, from 10 billion connected things today to 50 billion in 2020.
So, how can organizations learn to use all of that data?
The key lies not in simply having access to enormous data streams. Information must be filtered for crucial, actionable insights, and presented to the right people in a visualized, comprehensible form. Only then will Big Data transform business strategies and decisions. In effect, Big Data must be made small.
However, as McKinsey & Co. reported, many organizations don’t have enough data scientists, much less ones who understand the business well enough to draw conclusions. The trick is to get the scientists together with the experts who understand the business levers driving the organization. Put them in a room with the right tools, and watch the synergy fly.
But what sort of a room?
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Tags: Big Data, Cisco, Cisco Consulting Services, data scientists, innovation, Internet of Everything, internet of things, IoE, IoE Value Index, IoT, retail, value at stake
Supply Chain Management (SCM) has always been critical to business operations and success. Executives in large corporations remember lessons from their SCM courses back in business school. For those who have forgotten, consulting companies and universities teach SCM using well-known games such as the Beer Distribution Game. The problem the Beer Distribution Game highlights is the lack of insight people along the distribution chain have beyond a few steps. However, I’d posit that the Internet of Things (IoT) provides us the opportunity to holistically visualize and play with our entire supply chain. In effect, IoT may make the Beer Distribution Game a relic of the past.
The Beer Distribution Game is a role-player table game created by Jay Forrester at MIT Sloan School of Management in the early 1960s to teach principles of management science. The game is played by teams who simulate the supply chain of the beer industry during 40 weeks. Each team represents a brand and the goal is to meet customer demand. Each player represents a specific area of the supply chain: retail, wholesale, distributor and factory. Within each team players cannot communicate each other and information is only passed through orders and shipments notes every week. The winner of the game is the team with lower total cost of capital employed in stock for everyone in the supply chain while avoiding out-of-stock situations. Read More »
Tags: Beer Distribution Game, Internet of Things (IoT), IoT, supply chain management
On a typical day, we leave a vast trail of data in our wake. Our browsing histories, online preferences, shopping habits, work decisions, social interactions—all are rendered in binary code, prompting a complex interaction of requests, responses, affirmations, and denials.
And that’s just from our laptops and smartphones.
What about when the Internet of Everything — with its explosion in connectivity from 10 billion “things” today to 50 billion in 2020 — truly shifts into overdrive? At that point, our clothing, our houses, our cars, our lawns, and our refrigerators may be generating ever-larger torrents of data — all about us.
This upsurge in personal Big Data has big implications. Indeed, each person’s emerging digital persona will go a long way toward defining their place in the world. Furthermore, all of that data already has great intrinsic value to Internet giants, retailers, financial services companies, and many others. If we manage it right — in what I see as a burgeoning Marketplace of Me — some of that value may come right back to us.
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Tags: Big Data, Cisco, Cisco Consulting Services, innovation, Internet of Everything, IoE, IoE Value Index, IoT, privacy, security, value at stake
In his blog post yesterday, Wim Elfrink shared the recent news that the City of Buenos Aires, Argentina and the State University of New York (SUNY) will join The Global STEM Alliance. Since I had someone ask me this week -- “what exactly IS the Global STEM Alliance?”, here are the basics.
Unveiled last month at the Internet of Things (IoT) World Forum in Barcelona, Spain, The Global STEM Alliance is a joint initiative founded by The New York Academy of Sciences (the Academy) and Cisco. This initiative recognizes the importance of working together, in both physical and virtual communities, to bring Internet of Things (IoT)-based curriculum resources, local and remote mentorship, and access to universities to the next generation of entrepreneurs, scientists, and innovators around the world. Read More »
Tags: edreform, edtech, IoE, IoT, stem
Last month I attended a summit of subject matter experts on securing the Internet of Things (IoT). At first, I thought I had the wrong room, because it seemed that everybody other than me was an architect or engineer working for a device manufacturer, and as a result the conversation was dominated by placing security controls into the devices, themselves. In contrast, I tend to approach the issue from the perspective of protecting the core of the network. But just when I was beginning to think I had wasted an hour-long drive and was going to be bored out of my skull all day, a few of us started debating the issue and the conversation began to evolve. Before long, we had found common ground in the fact that security controls are all about trust relationships -- ‘I trust you, therefore I will allow you to do that’.
Now trust is a funny thing, because by its very nature it can neither be one-sided nor one-dimensional. Instead, it must be built into every aspect of the transaction; a sort of “digital handshake” to ensure all is well before doing business. In other words, each of our pre-conceived perspectives was correct, yet we were all being stubborn and short-sighted! Read More »
Tags: Cisco, cyber security, Internet of Everything, internet of things, IoE, IoT, network security, security