The Economic Value of Data in an Information Driven World

first_imgBy 2024, we’ll have a fully established Information Economy where data is critical to businesses looking to predictively spot new opportunities to gain a competitive edge. Standards-based information will be sold, donated and traded on open exchanges. Data marketplaces will facilitate the transfer of data in and out of siloes more fluidly and people will start to broker their own data.  We’re already seeing many signs of this – but it’s only the beginning.Within this landscape, your company’s data is important – that’s obvious. But just how important is it? How can you measure its value?  Today, we talk about ‘data as the new currency’ and we try to give it a price tag. Typically, data is worth what someone is willing to pay for it.  That simple transactional view does not tell the whole story.As organizations race to make sense of the opportunities and problems associated with our increasingly data driven world, businesses are coping with the need to more accurately measure its true value.But have no fear – it’s not all doom and gloom. Savvy businesses will take note and prepare for the future by ‘architecting for value’ – understanding and creating business and IT valuation processes within the company that reveal the real value of data. Let’s take a look at some examples of new data valuation activities being undertaken by organizations today.Data Becomes Your New Product: A recent report on Big Data’s market disruption by Capgemini and EMC found that 63% of respondents consider that the monetization of data could eventually become as valuable to their organizations as their existing products and services. This speaks volumes about Big Data’s potential – companies that have long sold products for revenue may start generating more revenue from data value than product value. French tennis racket manufacturer Babolat makes a ‘smart racket,’ the Babolat Play, which generates and collects data about a player’s performance on the court. By creating a smart product, Babolat took the first step to data value. This data could become an entirely new revenue stream. Babolat might, for instance, sell this data to app developers looking to make new products and user experiences or sell the data to athletic research organizations for data mining. A tennis racket can only be sold once, but the data it produces has endless monetization potential.Data Valuation for the Worst Case Scenario: Large-scale cyber-breaches are becoming far too frequent, resulting in great financial loss for multiple companies. As a result, data insurance policies are becoming a necessary part of doing business. Working with the insured, data insurance companies have to place value on a data set that not only looks at the value of the data to the insured’s business, but also takes into account the multitude of other factors that happen in the event of a data breach. Customer notifications, reparations and other costs such as PR for damage control all must be factored into the price of insurance. AIG’s CyberEdge, ACE’s Privacy and Network Security, and Lockton’s Cyber & Technology division offer companies coverages in the event of a breach that factor in the nuanced effects.Data in a Digital Bankruptcy: Caesars Entertainment Operating Co., which controls Caesars Palace, Caesars Atlantic City, Harrah’s Reno and more than a dozen regional properties, filed for bankruptcy earlier this year. Interestingly, the most valuable individual asset that creditors are vying for is Caesars’ Total Rewards Loyalty Program, the company’s big-data customer loyalty program that it has built over the last 17 years. It is said to have data on more than 45 million customers.  This data is valued by creditors at $1 billion – that’s a fairly large number. It exceeds the value of any of Caesars’ physical Las Vegas properties, which really puts the value of data in perspective. The program is also said to be 17% of the total value of all Caesars’ operating assets. Since the gaming industry does not have agreed upon valuation policies and practices for data, the value of the Total Rewards Loyalty Program will be contested in court and could result in interesting rulings around data valuation.Data Deals; Mergers and Acquisitions: Data is now one of the primary assets companies are after in an M&A, in some cases more so than the people, IP, or real estate.  In LinkedIn’s recent acquisition of Lynda.com, data was likely the biggest asset to come along with the acquisition price. LinkedIn’s CEO Jeff Weiner made note of Lynda.com’s extensive library of premium video as a compelling reason to buy the company, meaning that LinkedIn was after Lynda.com’s data assets to augment its professional network. Out of the $1.5 billion, it’s likely that a significant portion went toward the purchase of video data assets.Information Economy for a Better World: The Cancer Genome Atlas (TCGA) aims to develop pharmaceutical and diagnostic targets in cancer by making it easy to share genetic data. This collaboration of NCI and the National Human Genome Research Institute in essence looks to code genomic data so that standards-based, common data elements can be shared through open-source infrastructure.To succeed in the Information Economy, an organization must place data at the heart of everything that they do, every day. Businesses have to prioritize data valuation for technical and business-driven content throughout the organization. They must make it part of their business strategy by developing tools for valuation and policies and services to acquire or sell data. In order to leap ahead in this new world, companies must remain focused on honing their ability to achieve data-driven insights by predictively spotting new opportunities.Some start-ups and traditional organizations are already making headway in this arena.  For others, it’s not too late. But as the Information Economy takes shape in the years ahead, those that move too slowly will not survive.  The race is on – don’t be left behind.last_img read more

News from MesosCon: libStorage Delivers Native Storage to Container Platforms

first_imgBreaking from MesosCon: EMC announces pioneering open source initiative—libStorage. Promoting storage to a first-class citizen, libStorage provides a platform-agnostic framework that enables storage provisioning, orchestration and control across a rapidly changing open source and container-driven ecosystem.Containers are hot and getting hotter—but they’re not without their challenges. Container and open source platforms are each addressing storage challenges independently and building a healthy ecosystem around storage is critical. As a result, sustainability is in question as additional methods of bringing storage into these platforms emerge. EMC has introduced libStorage to move the needle.So why libStorage and why now?To enable the highest level of choice for users, platforms have the opportunity to embrace an open and comprehensive storage orchestration framework. This drives the maturity of the ecosystem forward where customers have a reliable and supportable standardized method to get storage to containers and applications, while reducing the number of moving parts.Today, capabilities and strengths differ in the container ecosystem—so users may have any combination of Cloud Foundry, Docker, Mesos and Kubernetes in their environments and expect to run different types of applications in each platform. libStorage defines a common framework and storage model to deliver resources to containers and consumers of containers—and ultimately, one common level of functionality to be exposed and supported through all container platforms.So what does all this mean? EMC is making storage a first-class citizen by creating an ideal architecture that embeds libStorage client and server components to enable container runtimes to communicate directly with storage platforms. This design requires minimal operational dependencies and provides volume management for container runtimes, simplifying and automating a once complex and time-consuming task. This new architecture will allow every storage vendor to immediately become relevant in the container world. Pursuing the completely native libStorage route where the plumbing between container and storage platforms is invisible is possible by adopting libStorage in the control plane of storage platforms.But don’t just take our word for it. Rancher Labs has the scoop on libStorage, and CEO and Co-Founder Sheng Liang had this to say: “As with any new technology, containers create new challenges for users even as they solve existing ones. libStorage solves one of the most critical issues of containers in the context of storage: communication—knocking down a major hurdle for users and enabling them to more efficiently extract more value, more quickly, from multiple container platforms.”Furthering EMC’s commitment to open source, libStorage is the latest in a series of open source innovations led by EMC’s Community Onramp for Developer Enablement, known as EMC {code}. EMC {code} was founded in 2014 with the mission to support 3rd Platform development and open source communities through contributions to critical open source projects, engagement and technical solution leadership. The team is dedicated to assuring continued relevance and affinity for EMC’s software and physical infrastructure products.EMC {code} is showcasing libStorage at MesosCon, booth # P1 – stop by and check it out. libStorage is available on GitHub: https://github.com/emccode/libstoragelast_img read more

Delivering enterprise capable OpenStack clouds

first_imgCloud Sessions @ Dell EMC World Visit the session catalog here to build your Dell EMC World schedule with these cloud sessions.Realize the benefits of OpenStack without the challengesCloud trends and the Dell technologies point of viewFederal: Cloud-based solutions for mission-centric operationsThe business imperatives driving cloud adoptionCritical cloud considerations for your applicationsDeveloping the Perfect Cloud – How to make your enterprise cloud ready and cloud efficientExecuting Your Cloud Strategy: Managing your organization’s Digital transformationPublic, Private or Hybrid Cloud – Where should your apps live?Go Cloud Native in as little as 2 days Ed. Note: This blog was authored by John Terpstra, Director Cloud Architecture and Software EngineeringThe Dell EMC Validated Solutions Organization is pleased to introduce the jointly engineered Dell EMC Red Hat OpenStack Cloud Solution based on Red Hat OpenStack Platform (OSP) 9, available in early November.This offering continues to deliver on our commitment to be first to market with Red Hat OpenStack software releases and to provide an enterprise-capable, highly flexible and simple to deploy OpenStack solution that captures and leverages the innovation created in the OpenStack eco-system. In this release, we are enhancing deployment automation, automating in-service updates and providing options to implement containers as a service with Red Hat OpenShift 3.3, which is based on Kubernetes and Docker.Additionally, Red Hat CloudForms 4.2 has been validated as an optional extension to provide multi-cloud management and usage metering for show back/chargeback. Dell EMC Deployment Guides will be available for rapid deployment of OpenShift and CloudForms. Visit Red Hat OpenStack Cloud Solutions at Dell Tech Center for the latest updates.We use an automated test harness that extends the OpenStack Tempest toolset to help ensure that each OpenStack component, alone and in enterprise-class combinations, can be deployed with confidence. Open source advocates will appreciate that all enhanced enablement tools and utilities created by Dell EMC and Red Hat to support system testing and validation have been released in public open repositories such as GitHub under the Apache2 license. This release, like previous solution releases, is fully open source and free from any form of proprietary code.This latest release uses Red Hat Enterprise Linux 7.2 and is powered with the latest generation of Dell EMC PowerEdge R430, R630, R730 and R730xd servers and Networking. The core architecture is documented in a reference architecture and designed to scale from less than half a rack to a three-rack cloud infrastructure solution capable of supporting up to 2,500 VM instances or up to 8,000 container instances.Join us at Dell EMC World 2016 and OpenStack Summit EMEA to learn more about Dell EMC Red Hat OpenStack Cloud Solutions. OpenStack Summit EMEA 2016 OpenStack Summit heads to Barcelona Spain, Oct 25-28, where you can network, skill up and plan your OpenStack cloud strategy. Check out the Dell EMC session and register today!Dell EMC Sessions @ OpenStack Summit Hello World for Murano – end to end process in a Docker container and moreThe Good, Bad and Ugly: OpenStack Consumption ModelsAutomating your manual test suite using a Tempest plugin, Scenario tests and RallyHadoop on OpenStack Cloud: The Elephant can fly!Cinder Project UpdateAnalyzing Performance in the Cloud : solving an elastic problem with a scientific approachBuild the Artificial Intelligence Cloud – Provision and Manage Tensor Flow cluster with OpenStackTroubleshooting Neutron: Physical and Virtual NetworksGetting the Most Out of Rally for Improving Scaling Behaviorcenter_img Dell EMC WorldDell EMC will host business and IT leaders from around the world Oct, 18-20, for the biggest enterprise technology event of the year. Join us for a different type of technology conference – Austin style – where the city’s most delicious food comes on trucks and the country’s best musicians play live every night!last_img read more

There are No Exceptions for Exceptional Leadership

first_imgThe cornerstone of every successful business is a unified company culture. And the foundation for a strong culture is that it must support the corporate strategy and be built on exceptional leadership. Being a good leader is no longer good enough.Earlier this year, I wrote a piece for Forbes on the importance of exceptional leadership, explaining the value of a holistic approach to leadership development and highlighting three areas of focus to help shape a successful leadership strategy.Three Keys to Effective Leadership DevelopmentClearly understand the company’s strategy and cultivate a supportive and inspiring corporate culture: In order to support a positive culture, leaders must be able to clearly articulate the company’s vision and strategy and also comprehend the company’s team members’ values and expectations. Once the cultural DNA of the business is identified, then you can create a set of clear principles that reflect and support the culture your team members need to be successful.For instance, Dell’s leaders are expected to thrive at these seven principles: optimism, humility, drive, vision, selflessness, judgment and relationships. However, leadership is a privilege, and should be worked at, so while it’s important to be good at all of these, my advice is to be exceptional for at least one of them.  Just pick one and excel at it. Our research has shown that exceptional leadership in the eyes of team members – in just one defined area – delivers directly to the bottom line of the business.Embed expectations for leaders into the business’ ecosystem: To achieve success, a company’s values and leadership principles must be embedded into every aspect of the business. Holding leaders accountable for successfully executing the company’s strategy while also living and cultivating the company’s culture is a must. At Dell, one key way we measure this is through our team member surveys, which play a significant role in driving our leadership and culture strategy.Use data and analytics to uncover the leadership principles that matter most: It’s no surprise that a tech company would put a premium on data. We believe a company’s leadership development strategy must be based on research and data. It’s the ongoing evaluation of a leader’s impact that should serve as the guide post for HR strategy and decision-making going forward. At Dell, for instance, we know through team member research that the two most important leadership attributes for inspiring our team members are selflessness and vision.The end game – our customersDell’s research shows that our strategic focus on leadership is helping to support business growth and better service for our customers. For example, the data reveals that sales teams working for inspiring leaders have six percent higher sales attainment than those working for uninspiring leaders. The difference is more happy customers and increased revenue measured in the millions, a bottom-line difference that should be of interest to all employees of a company. If you’re interested to read more of my thoughts on leadership, see my Forbes post here.last_img read more

Keeping Patients Safer with Artificial Intelligence and Data Analytics

first_img Play VideoPlayMuteCurrent Time 0:00/Duration Time 2:53Loaded: 0%Progress: 0%Stream TypeLIVERemaining Time -2:53 Playback Rate1ChaptersChaptersdescriptions off, selectedDescriptionssubtitles off, selectedSubtitlescaptions settings, opens captions settings dialogcaptions off, selectedCaptionsen (Main), selectedAudio TrackFullscreenThis is a modal window.Caption Settings DialogBeginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsDefaultsDoneClose Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button. The low-latency, high performance private cloud foundation integrates Dell EMC PowerEdge servers and Dell EMC PowerScale storage. The core of the system is a Hadoop cluster residing on Dell EMC PowerEdge R540 and R640 servers running demanding AI workloads including intensive machine learning and statistical algorithms. It also includes Kubernetes and machine learning workloads running on PowerEdge 740 servers with NVIDIA® GPUs. According to David, “Our partnership with Dell Technologies allows us to take advantage of the full breadth and depth of their compute, storage, networking and security solutions. Dell Technologies offers best-of-breed solutions in all these categories.”The team also uses VMware® vCenter™ and VMware vSphere™ Enterprise Plus to manage virtualized server resources and optimize server performance, along with Dell EMC OpenManage Enterprise and iDRAC.   The PowerScale OneFS distributed file system provides management for the storage infrastructure. This combination helps the team easily deploy, monitor and manage system updates and add new technologies. “OpenManage Enterprise offers a complete view of all the servers in our infrastructure,” David explains. “It’s an easy-to-use, centralized management tool that gives us the transparency to detect and address issues as soon as they occur. Through OpenManage Enterprise, we can ensure that our PowerEdge infrastructure is at the optimal firmware patch level. We maintain control not just over the operating system security patches, but over server security overall.”The ease of management also allowed Medacist to onboard more customers with minimal headcount increase. As David reports, “As we grew from 600 to over 2,000 clients, we were able to minimize growth in management overhead while delivering the scalability and performance our increased workloads required thanks to our Dell Technologies infrastructure.”  The complete solution has also reduced data processing lag time from 24 hours to just five minutes. It also provides 99.99% uptime, which has saved Medacist millions of dollars by upholding client service level agreements (SLAs). Delivering better accuracy with shorter processing timesMedacist specializes in drug-diversion analytics, a specialized healthcare service for identifying unusual patterns that could indicate possible abuse. The company’s Genesis healthcare data platform applies data analytics — including artificial intelligence (AI) and machine learning (ML) — to vast amounts of data from a variety of sources throughout a drug’s lifecycle.Reliable, scalable and high-performing compute and storage solutions are mission-critical for Medacist. When the company needed to integrate multiple storage and analytics systems onto a shared data plane, David J. Brzozowski, Jr., Chief Technology Officer at Medacist, turned to Dell Technologies. By partnering with Dell Technologies for their infrastructure modernization project in support of the Genesis healthcare data platform, Medacist is now able to deliver new insights to more clients, faster than ever before.last_img read more

US terrorism alert warns of politically motivated violence

first_imgWASHINGTON (AP) — The Homeland Security Department has issued a national terrorism bulletin warning of the lingering potential for violence from people motivated by anti-government sentiment after President Joe Biden’s election. The bulletin suggests the Jan. 6 riot at the Capitol may embolden extremists and set the stage for additional attacks. The department isn’t citing a specific threat. But DHS points to “a heightened threat environment across the United States” that it believes “will persist” for weeks after Biden took office. The wording suggests national security officials see a thread between recent violence over the past year motivated by antigovernment grievances, whether over COVID-19 restrictions, the 2020 election results or police use of force.last_img read more

Hard-hit Czech Republic reaches 1 million confirmed cases

first_imgPRAGUE (AP) — The Czech Republic has reached 1 million confirmed coronavirus cases. It is by far the smallest of the 21 countries to surpass the milestone, with the United States leading the global table with more than 26 million. The Health Ministry said Wednesday the day-to-day increase in new infections reached 9,057 cases for a total of just over 1 million. With the population of 10.7 million, the country has registered 16,683 deaths. Currently, 93,043 Czechs are ill with COVID-19. Among them, 5,811 are hospitalized while 1,002 are in intensive care, putting the health system under increasing pressure.last_img read more

Flower farms see their Lunar New Year sales wilted by virus

first_imgHONG KONG (AP) — The Lunar New Year holiday is usually a busy period for flower farms in Hong Kong, which gear up to sell plum blossoms, orchids and daffodils at flower markets during the festive season. But the pandemic and restrictions on such festive markets this year has many farms worried that they may be left with an oversupply of flowers. Traditionally, Lunar New Year fairs – known as “flower markets” in Cantonese – are held before the holidays, with thousands of florists and festive goods vendors hawking their wares to the public. This year, the Hong Kong government is restricting the markets to half-capacity with shorter business hours.last_img read more