Tag Archives: big data

Attention All Employees: Report For Microchipping

Does the idea of a corporate microchip implanted into your body make you squirm, or are you fascinated by the possibilities?  

“Hold your breath – one … two … [stab].”

A Wisconsin-based marketing company (Three Square Market) recently hired a piercing professional to inject microchips into 50 of its staff. The radio-frequency identification (RFID) chips are encased in glass capsules about the size of a large grain of rice. They were injected into the fleshy part of participants’ hands, between the forefinger and thumb.

Sounds like something from a corporate dystopia, doesn’t it? Don’t worry, all of the microchipped individuals were entirely voluntary – along with a handful of journalists who were eager to see what it was like.

What can the microchips do?

At present, not much. It’s entirely internal to Three Square Market’s office, where microchipped staff can wave their hand to open doors, unlock computers and pay for items in the kiosk, provided the systems have the software installed and a contactless chip reader.

But in the future, the possibilities of human microchips are only limited by the scale of the technology’s implementation. Scannable items such as passports, drivers’ licenses and credit cards would no longer be necessary. Car keys could become a thing of the past, and of course home automation systems would be operable with a wave of the hand.

There’s a good example of microchips in play in Sweden, where a company named BioHax has implanted nearly 3000 customers with chips that enable them to ride the national rail system without having the show the conductor a ticket.

For data analysts, the potential flood of information from microchip use within a company is alluring – data could be collected every time an employee makes a purchase, enters the building, or uses a photocopier.

Can microchipped people be tracked remotely?

Not yet. The microchips aren’t a GPS device, but are entirely passive until they come within a few centimetres of a compatible reader, just like a bank card. Pet owners familiar with the technology know that microchipped pets can’t be located remotely if they go missing – instead, owners must wait until their pets are handed into a vet with a chip scanner.

Will employee microchips one day be compulsory?

At Three Square, over 60% of the company volunteered to be microchipped. The remaining 40% had a range of reasons for demurring, including a dislike of needles, a fear of having foreign objects in their bodies, and privacy concerns.

The concern is that if this technology becomes mainstream, a refusal to allow your company to embed you may lead to losing out on a promotion, raise, or simply being seen as “not a team player”. Forward thinking legislators in Pennsylvania have already introduced a bill to outlaw mandatory chip embedding, with a spokesperson saying: “If the tech is out there, what’s to stop an employer from saying either you do this, or you can’t work here anymore?”

Another issue is that with an increasingly mobile workforce, a chip that only works within the walls of a single organisation would become useless once that person leaves. One day, perhaps you would simply have your chip deactivated upon your exit interview and re-calibrated by your next employer, but this isn’t yet the case. Of those 50 volunteers at Three Square Market, it’s likely that a handful will move on to other roles within the next few months, but what becomes of their chips? The company won’t be happy with non-employees being able to open doors with a wave of their hands, so will the chips be (painfully) removed? Perhaps they will simply be deactivated, meaning users are left with a useless piece of “abandonware” technology embedded in their hands.


In other procurement news this week:

Are emerging professionals being paid more than experienced hands in procurement?

  • Based on 3808 responses across the United States, ISM’s 2017 Salary Survey revealed that emerging professionals (with under 9 years’ experience) are earning nearly $5000 more per annum than experienced professionals (with 9+ years).
  • This suggests that organisations are having to offer higher salaries to attract new talent.
  • The survey also revealed the following average salaries: CPOs – $259,340, VPs – $135,757, Directors – $153,347, Managers – $109,401.

Coupa appoints new Chief Marketing Officer

  • Cloud-based spend management company, Coupa Software, has announced that digital marketing executive and veteran software industry marketer Chandar Pattabhiram has joined the company as its chief marketing officer (CMO).
  • Named one of five CMOs to follow this year by LinkedIn, Pattabhiram has more than 23 years of experience in both fast-paced and large technology companies including Marketo, IBM, Badgeville, Cast Iron Systems, Jamcracker, and Anderson Consulting (now Accenture).

Intel to build a fleet of self-driving cars

  • Intel announced last week that it will build 100 high-automated cars to test self-driving technology.
  • The project will showcase Intel’s $15 billion acquisition of Mobileye, which closed this week. Israel-based Mobileye makes technology that helps vehicles “see”; collecting, analysing and transmitting data about the outside world.

7 Ways to Effectively Utilise Big Data in Organisations

The popularity of Big Data is growing as organisations begin to understand how to effectively utilise the volume of information available to them.

Big Data

The buzz around Big Data is undeniable. Regardless of the size of the organisation, managers can use this information, to help drive better, more effective organisational decision making, as a result of accurate analysis.

But how? Below are seven ways how effective utilisation of big data could become a boon to your business.  

1. Improve Business Intelligence

Business Intelligence is a process of analysing data which helps managers and corporate executives make more sound business decisions. So if you try to put in some extra effort to ameliorate your organisation’s business intelligence, it will result in a more accelerated decision-making process, optimised internal business processes, increased operational efficiency, generation of new revenues, and identification recent market trends.

2. Practical Business Decisions Based On Customer Behaviour

Big Data contains a wealth of information about the way customers of a particular organisation act and behave, like their interests, habits, and demographics in some cases. By analysing sales, market news and social media data, organisations may collect and analyse real-time insights of their customers.

Better marketing strategy can be devised through a careful watch over the customer’s needs, taste, and behaviour.

Big Data Approach
Source: www.cio.co.ke

3. Build Trust Among Customers

It is a well-known fact that the more customer trust and satisfaction an organisation has, the more profit it is likely to generate. Feedback from customers gives organisations the key information to make improvements in products and services.

Organisations can use the information gathered from customer feedback in order to make changes to products and services, showing that they listen to customers, and generating further customer satisfaction.

4. Risk Assessment

Big Data houses a vast amount, and variety, of information which could be used as part of risk assessment activities.

Data from sources like mobile devices, social media platforms, and website visits, and information about credit, legal, e-commerce spendings and other online activities, of a particular person reveals hidden consumer behaviours that may not be otherwise known.

This is advantageous for the banking industry, as big data can help in fraud detection through the use of pattern recognition and by comparing internal and external data of the customers. Organisations like MasterCard already use Big Data to assess whether a certain transaction is legitimate or fraudulent.

This information can play a major role in managing risks and making judgments about credit approvals and pricing decisions, before moving forward with the customer at both an individual and product level.

5. Predictive Personalisation

Predictive analytics creates a huge opportunity for behavioural segmentation of the consumers. It analyses personal information of people on websites, their behaviour, their social data and their browsing data.

Content similar to their interests is then catered to the users, giving them their own personalised space to explore and use the services. In this way, you customise your website to suit the requirements of the individual customers based on their demographics and interests which makes them distinct from the crowd.

There are many companies, like Spotify, who are targeting their customer base providing personalised products as per their needs.

Big Data Drivers
Source: www.thewindowsclub.com

6. Tailor-Made Products and Services

Through big data, we have access to all demographic and personal details of the customers. By matching consumers with the similar products, and the content they have already viewed, personalises their experience on a website.

This method of providing tailor-made services, where customers are connected with exactly those products and services in which they’re interested, may also be known as Digital Hospitality.

This often takes customers by surprise and makes them feel special. However, it would be best to ask for the customer’s consent before using their personal information, as this will make it appear less intrusive.

7. Cost Reduction

Big Data can also be used for automated decision-making systems, where managers can get regular alerts about maintenance support systems and cost cutting opportunities in their business.

For example, Tesco used Big Data to cut its annual refrigeration cooling costs by 20 per cent across 3000 stores in UK and Ireland. Business operations can be optimised without compromising on the quality standards of products.

Since Big Data is, by its essence, huge, taming it can be quite a difficult task because of the continuous generation of data from different platforms in all realms of the world.

With the efficient utilisation of information received, a huge difference can be made to the business operations of an organisation, provided that the information is critically analysed such that it can be transformed into profits.

For this purpose, a good project management tools platform may come in handy for organisations, as managers will be able to keep an eye on the projects concerned with Big Data extraction.

Swati Panwar is a content writer and tech blogger. Writing is her passion and she believes one day she would change the world with her words. She is a technical writer by day and an insatiable reader at night. Her love for technology and latest digital trends could be seen in her write-ups. Besides this, she is also fond of poetry. She’s extremely empathic towards animals and when not writing, she could be found cuddling with her cat.

LinkedIn: https://in.linkedin.com/in/swati-panwar-5030b589

Procurement Faces Balancing Act as Business Uncertainty Rises

According to new research from the Hackett Group, procurement faces a balancing act in 2016 thanks to rising business uncertainty.

Business Uncertainty

  • Key issues research shows budgets and staff expected to rise slightly in 2016
  • The Hackett Group recommends that to improve agility and reduce cost, procurement must harness the value of Big Data and control tail spend

According to new Procurement Key Issues research from The Hackett Group, Procurement leaders expect operating budgets and staffing to increase slightly in 2016. This comes at a time as they attempt to balance the need to reduce costs, with the desire to become a better strategic business partners and other priorities. 

Increased business uncertainty and risk are driving a resurgence in traditional cost reduction strategies, according to research. At the same time, the research identified critical development gaps in four key procurement strategy areas:

  • Becoming a better strategic partner to the business.
  • Increasing spend influence.
  • Improving agility.
  • Tapping supplier innovation.

These are seen as important targets for capability development.

Harnessing Big Data

To improve agility, The Hackett Group’s research recommended that procurement organisations become more information-driven and harness the value of ‘Big Data’. Unfortunately, the research found that over half of the study respondents currently lacked a formal market intelligence program, or were only in the earliest stages of adoption.

Study respondents also identified predictive analytics and forecasting as the trend with the greatest transformational impact for procurement over the next decade.

Finally, The Hackett Group’s research recommended that, to unearth new sources of savings, procurement examine tail spend. This is­ the 20 per cent of spend that is spread thinly across up to 80 per cent of suppliers.

This is an area where most procurement organisations have not focused heavily.  But with effort, The Hackett Group estimates that savings of 3-5 per cent for less mature sourcing organisations is possible, in part by identification of high-dollar maverick spending that should have been strategically sourced.

A complimentary version of the research is available for download, following registration, here.

Cost Reduction Pressures

According to The Hackett Group Global Procurement Advisory Practice Leader, Chris Sawchuk, “For 2016, companies are expecting to see business uncertainty and risk increase, along with greater struggles to grow revenue. So the pressure to reduce costs is increasing. At the same time, procurement leaders need to balance this with other more strategic priorities, like becoming a better strategic business partner.

“This is challenging, because for 2016, procurement operating budgets are expected to increase by just 1.1 per cent, and staffing will only grow by 2.2 per cent. So procurement can only afford to fund its highest-priority initiatives. One clear differentiator we saw in the research this year was the recognition of the value of improved market intelligence.

“Procurement leaders are realising that higher-quality information can help them drive greater business value. Big data has been a game changer when it comes to customer analytics, offering an unprecedented ability to quickly model massive volumes of structured and unstructured data from multiple sources. But procurement’s lack of maturity in market intelligence is a significant obstacle that must be overcome,” said Mr. Sawchuk.

The Hackett Group’s 2016 Procurement Key Issues research  is based on results gathered from executives from nearly 180 large companies in the US and abroad, most with annual revenue of $1 billion or greater.

Chris Sawchuk is a keynote speaker at the Big Ideas Summit on April 21st. Chris will be talking about how procurement is applying key agile capabilities in the areas of leadership, talent, service placement and information-driven performance.

If you’re interested in finding out more, visit www.bigideassummit.com, join our Procurious group, and Tweet your thoughts and Big Ideas to us using #BigIdeas2016.

Don’t miss out on this truly excellent event and the chance to participate in discussions that will shape the future of the procurement profession. Get Involved, register today.