Results tagged “big data”

Revolutionizing the Food Supply Chain with IoT

Revolutionizing the Food Supply Chain with IoT

Food for thought: food services enterprises should have elasticity in inventory of produce while minimizing food waste. The business imperative: cater to the demand for processed food while ensuring food safety. The operations dynamic: maintain food quality while rationalizing costs.

On-demand distribution of huge volumes of products across diverse categories requires food services enterprises to capitalize on advanced technologies such as the Internet of Things (IoT) and big data analytics to integrate the supply chain and improve efficiency in packaging, warehousing and logistics. Solutions for real-time asset tracking and mobile workforce management boost productivity and streamline operations; however, they do not adequately raise service levels or minimize order lead times in complex shipping flows.

Technology Amplifiers for the Retail Customer Experience in 2017



Amplify the Human Experience [Source: https://www.youtube.com/watch?v=7A7Ym09nJyo]

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I find it extraordinary that shares of Amazon have a price-to-earnings ratio of 173.35. That is amazing for any stock, but Amazon's unique situation tells us something important about the retail success of the company. Especially when it comes to amplifying the customer experience. That is, investors in the stock market place a premium on Amazon's ability to innovate and make its website and associated digital devices and platforms a seamless, one-stop shop for today's plugged-in consumers. Why else would a company have such a high p/e ratio? The answer: Investors have confidence that the company will keep pushing the digital envelope.

As I prepare for the annual "Big Show" of the National Retail Federation, where Infosys is presenting a host of tech showcases, I can't help but give readers of InfyTalk a brief preview. I am constantly asked what I see as the top technologies that amplify a customer-centric retail experience. The fact is: You don't have to be a global retailing giant to harness these technologies. They are available to all, and if you are able to get the combination of technology with responsive customer strategy right, you could well be on your way to being the next big thing.

Seeing More Than A Stellar Tennis Match, Much More...

Seeing More Than A Stellar Tennis Match, Much More...

Sitting courtside and watching the yellow ball slam back and forth can be a heart racing, adrenaline rushing experience. If you are a diehard tennis fan like me, you'd see why tennis is a game of superlative physical and mental caliber. I'm taking in an exciting match between Andy Murray and Marin Cilic at the Western & Southern Open Finals in Cincinnati, one of the most important hard court tournaments leading up to the US Open. The raw power of the players and fan fervor aside, there is something else enriching my experience here ─ a layer of data and insights into the ongoing match and players. These insights are like tiny stories around every point scored or lost, cumulatively enhancing the understanding of the game and its practitioners that up until now one may have thought one knew well. Let me give you some examples:

  • 98 hours and counting: In 2016 Andy Murray spent 5886 minutes on court in the ATP World Tour, which is 1819 minutes more of competitive tennis this season than Marin Cilic.

Continue reading article on Medium»

Back To School For All



STEM Integration in K-12 Education [Source: https://www.youtube.com/watch?v=AlPJ48simtE]

The 'back to school season' in the U.S. is like a holiday, celebrating education - and new backpacks. But for too many, celebrating education stops at graduation. Far too often, when classrooms become cubicles, K-12 becomes 9-5, and students become employees, that commitment to learning stops.

It shouldn't.

The Power of Visualizing Big Data

 
Take a look at deforestation in Sumatra over the course of the past 12 years with Explorable Visual Analytics (EVA)

An interesting argument is being played out in the United Kingdom, where the Conservative government is reviewing a program known as Innovate UK. The majority party, which came to power promising British voters more fiscal restraints on big government spending, is reviewing a lot more than just funding to corporate innovation programs. Taxpayers, however, can be persuasive, and the question now facing the British people is whether the government should continue helping to fund promising technology startups or instead give loans to the companies in question.

That debate has sparked the greater question as to whether innovation can be created by providing the right people with the right tools and the right space and then 'bottling it up,' so to speak. The Financial Times recently pointed out that the British aerospace giant Rolls-Royce spent some £650 million on research & development last year. It also received £35 million through the Innovate UK program. Would that extra £35 million have been missed by a technologically-savvy company like Rolls-Royce? I tend to think every last penny that goes towards innovation is important, so my answer would be yes in the grand scheme of things.

The Era Of Open Source Platforms Is Here

The Era of Open Source Platforms Is Here

Today, the world of open source is witnessing major innovations, and at a considerably high pace. Intense focus from academia, Open Source communities (Hive, Spark, Apache, etc.) as well as industry leaders are making this possible, to a large extent. In addition, with service providers and other IT players adequately providing support on such open source components, enterprises are increasingly shifting their workloads to an open data architecture. Particularly, enterprises are making this move as data is becoming exponential - in terms of volume, variety and velocity - and license costs for proprietary data platforms are rising.

They are beginning to experience unprecedented cost-performance benefits with open-source technologies compared to proprietary systems. For instance, Spark, which uses in-memory capabilities of the underlying Hadoop with its own map reduce, is 100 times faster than a traditional Hadoop-based system.

A Data-driven Perspective from Davos

A delegate browses the research report, Amplifying Human Potential
A delegate browses the research report, Amplifying Human Potential: Education and Skills for the Fourth Industrial Revolution, launched by Infosys at WEF 2016.

Every year, a few thousand professionals gather in the snowy mountains of Davos, Switzerland, to try to make the world a better place. They attend seminars, speak at forums and network among themselves to gain a better understanding of trends and innovations in the race to identify the next blockbusters. Old friends meet again, networks are expanded and new friendships are forged. Often, these connections go on to have some kind of meaningful impact in the year ahead.

This year at the World Economic Forum's Annual meeting in Davos, I had the great honor of participating in a panel that discussed the value of data in business decisions. The panel was led by Aimia, a Canadian data-driven marketing and loyalty analytics company, and included participants from Canada's Globe and Mail newspaper, universities, banks such as HSBC, the Harvard Business Review, as well as a few physicians.

The panel was called Leadership in the Data Era: How Innovative Leaders Balance Data Versus Intuition to Drive Effective Decisions, and it was held in one of the satellite hotels WEF uses in Davos.

Making Data Talk ─ On Courts, Fields, and Grounds

Infosys ATP Beyond The Numbers: Back From The Brink

The eminent historian Doris Kearns Goodwin says that long before she began writing Pulitzer Prize-winning novels, she got a knack for recording events in the form of a scorecard whenever her father took her to a baseball game. Baseball, like its older cousin cricket, can be a complicated sport filled with a dizzying array of statistics. There are reams of data on each player, his batting average, runs scored in each game, and the number of home runs in the regular season, just to name a few. Those stats are only the tip of the iceberg.

Indeed, keeping meticulous scorecards and calculating player data caches is one reason Goodwin became as famous a historian as she was a devoted sports fan. She loved using data to analyze events. If only she had the power of analytics that sports fans now enjoy. The truth is, there's always been data surrounding our favorite sports. Think match data from every ATP tennis game going back many decades, or scorecards from very old cricket games that can be found on the Wisden website (or in the annual Wisden Cricketers' Almanack, before the Internet). But until recently, it was not possible to make all this data talk meaningfully. That is because, the available computing power wasn't sufficient to keep up with it all.

Data Can Help Publishers Understand What Readers Want



What it means for the New York Times to hire a scientist  [Source: https://www.youtube.com/watch?v=XWIZOu_XZTs]

Despite the vast amount of digital content available today, I love my daily newspaper. Many readers, like me, continue to enjoy reading newspaper for its depth of coverage and unique experience. However, there is no ignoring the fact that newspaper circulation has dropped significantly over the last three decades.

Publishers are still trying to come to grips with a new generation of digitally-connected consumers, who use non-traditional channels such as mobile devices to access news from social media and apps. At the same time, newer entrants to the publishing market such as The Huffington Post and BuzzFeed are attracting more readers with free, shareable online content, that increases engagement and readership.

Risky Business: Risk Identification In Insurance

Risky Business: Risk Identification In Insurance

Given that insurance is all about risk and innovation is inherently a 'risky' process, it is no wonder that insurance companies are struggling with innovation. The magical ingredient that can really help insurance companies overcome this interesting dichotomy is data. We all know how insurance companies love their structured data, their rating tables, their statistical analysis...yet all this is post facto data, which at best is a mirror to history. With the proliferation of data sources (both structured and unstructured) and the impending revolution that is the Internet of Things (IOT) ... the best is yet to come.

I believe that the innovative use of data can really help insurance companies innovate in an area that is most critical to them: risk identification (which leads to new product development). What if insurance companies could predict their customers' insurance needs and offer tailored products and services? What if they could bring the 'power of one' to insurance underwriting?

How Banks Chop Big Data Down To Size



Investment banks need big data to thrive [Source: https://www.youtube.com/watch?v=fF8wHSrWQBI]

Your enterprise doesn't have to be intimidated by Big Data if you know how to chop it down to size. Then that data becomes all the more manageable and potent to revving up your business processes. That's just one of several insights that chief information officers often share with me whenever we chat about optimizing their organizations.

One of the key challenges for all banks - no matter at what stage of their IT journey - is how to deal with the promise of Big Data against a backdrop of enormous and often ungainly legacy mainframes that your company might have a difficult time retiring. Part of the issue for large corporations is real estate. Mainframe computers take up enormous amounts of space both off-site and in expensive corporate offices. It's difficult to convince a CEO to dismantle decades-worth of computer hardware because of the promises inherent in the Cloud. Still, it's worth being proactive in convincing your organization to become more nimble and embrace modern technological infrastructure.

Why The Best Retailers Use 'Micro-Personalization'



Retail Trends - Personalization & Big Data [Source: https://www.youtube.com/watch?v=cdv7XypdtwA]

One of the things that made the television series Mad Men so endearing was how quaint and simple the corporate world used to be a half-century ago. The popular television series shed light on Madison Avenue of the early 1960s. The world's largest advertising firms were run by brash, creative men who had little use for predictive analytics or customer relationship management (CRM) software.

Of course, no such technology existed back then. The series takes place more than 50 years ago, when the most sophisticated computers took up an entire room and operated on punch cards. Back then, customers were told what to covet by bold advertising campaigns. The idea was that a catchy jingle or repeating the name of a product over and over again over the airwaves would settle deep within a consumer's inner consciousness. The next time they went to the store they would inevitably buy that product.

Bringing Together Care, Cure and Cover

Some industries thrive on the benefits of consumerization. Retail is one of them. Designers might show off their creations in glitzy fashion shows, but fashion is also a by-product of what the consumers want to wear. Retailers excel in tapping into the consumer zeitgeist.

Then there are the life sciences industries, which encompass healthcare, pharmaceuticals, biotechnology, and even insurance. For decades, for centuries even, many companies in these industries did not act on the demands of the consumer. Instead, they dictated what drugs to take, what operations to undergo, and what insurance policies were best for them. But the tide has turned, now that we live in the digital age. It has become increasingly important for these industries to focus across the value chain and tap into market synergies. New synergies via information technology and digital devices are forcing the healthcare, pharma, and insurance industries to converge. When your job is to scrutinize and study the evolution of life sciences, it's exciting to see how this is taking shape.

Tomorrowland's Message For Life Sciences



Father Helps Son With Diabetes, Develops 'Bionic Pancreas' [Source: https://www.youtube.com/watch?v=OAPS5F68x7A]

The movie Tomorrowland is getting mixed reviews. Some critics say that despite its spectacular special effects, it lacks a coherent storyline. Others have a different take. One critic writes that: "Tomorrowland delivers a loud and clear message of hope for humanity, which is a welcome thing to hear at any point in time."

Well that is good news - especially for those of us in the business of innovation. There's nothing more satisfying for me than to help solve the challenges facing the world from the perspective of the life sciences. That's because the assorted life science industries - everything from Big Pharma and biotech to healthcare - are undergoing a tremendous and exciting evolution. Because of the power of Big Data, they're consolidating into one, massive force for good.

Peeling The Onion Router

Peeling Away The Onion Router
How real is digital anonymity?

According to the research firm Gartner Group, the amount of data produced on planet earth is set to increase 60 percent each year in the near future. Talk about Big Data getting even bigger! Unimaginably big, in fact. Where to start with this needle in this massive haystack?

The initial problem is, of course, that all data are not created equal. What might be precious information to your organization might be just chatter to another entity. And the other way around. So having all this data in your possession is one thing. Parsing through it to make sense of it all is quite another thing.

Rise Of The Digital Insurer

Rise of the Digital Insurer

Retailers risked being left in their competitors' dust if they didn't stay on top of digital trends. The smartest retailers have created seamless experiences for their savvy, digital consumers - whether online or in-store.

Believe it or not, the same is true for the expectations of digital consumers and their insurance companies. Whereas retailers can turn on a dime and react very quickly and effectively to consumer preference, with the insurance industry, it's a different story. That's because the insurance business is extremely predictable and runs on a very basic premise: that an army of actuaries utilize algorithms to determine rates for policyholders. If something such as a natural disaster occurs and the companies must pay out on some policies, those companies simply adjust the rates they charge to everyone. So the insurance company is always, always coming out on top no matter what transpires in the world.

Digital Infrastructure Is The Next Frontier

Let's face it: Digital needs are changing. That's why it's imperative for enterprises to adopt new tools and technologies. Did you know, for example, that by next year some 3 billion consumers, or 45 percent of the world's population, will be using the Internet? It's a staggering number. Smart organizations need to be focused on the power of social media as well as the possibilities that come with ultra-connectivity: the Internet of Things.

To best anticipate and leverage these rapid-fire changes, an organization needs to recognize that there's a paradigm shift occurring in the global marketplace. That means redefining the digital needs of present-day consumers. Doing so will take the right infrastructure and the right software. Internet traffic volumes are estimated to reach 1 zettabyte (yes, zettabyte!) by later this year. Digital consumers are already making 500 million tweets a day, and there exists 1.2 billion monthly active Facebook users. Ask yourself: Is your organization's digital infrastructure and software up to the task of meeting this growing consumer demand?

How Big Data Is Transforming Finance

How Big Data Is Transforming Finance
There is so much data that even the savviest global banks don't know quite what to do with all of it

Recently, I was reading about a fascinating new push for graduates with data mining experience in the financial services field. Now here is something the world's big economies should be concentrating on: the science and mining of Big Data. Indeed, the consultancy McKinsey predicts that as soon as 2018 the United States alone could be facing a shortage of up to 190,000 people with data mining experience.

It's not that there aren't plenty of data specialists already. It's just that the amount of data has grown exponentially in the past few years. Think about this: 90% of the data in 2014 was created in the last two years. In 2015, the same amount of data will be created in one year. And in 2020, it will take less than a second! Also, there will be 80 billion sensors in devices and 100 million viral connections per minute by 2020. In fact, there is so much data that even the savviest global banks don't know quite what to do with all of it. What they do know is that hidden in the gigantic haystack are a few priceless needles. They are struggling to find them because if and when they do, their financial services operations will reap the benefits.

Predicting a Retail Transformation


Sandeep Dadlani, Executive Vice President, Head, Retail, CPG and Logistics & Head of Americas talks about predictive analytics, which is transforming the retail industry

Buoyed by digital convergence, social media, Big Data and new technologies, the fast-changing retail landscape is at the cusp of an important transformation. Retailers, who were known as 'artists' for selling their merchandise on creativity and experience instead of math and science, now must cater to a new generation of buyers who hardly enter a store! To stay ahead of the game, it is imperative for retailers to not only accept the ways of digital shopping but also adopt new business models to attract and retain customers.

Up until few years ago, most company websites displayed a toll-free contact number at the bottom of the web page as the point of contact for customers. Should anything go wrong post purchase, it was pretty much the only way (apart from writing in) to contact the company. Today, thanks to social media, the avenues of communication have increased manifold.

Why Are Insurance Companies Embracing IT?

insurance
A major way that insurers are becoming more nimble and cost-effective is by embracing Big Data, mobility, and the Cloud

Fact: The insurance industry is slow to innovate. The reason? There's really been no need to do so until very recently. For hundreds of years its business model has been very simple and most of the large firms relied on an army of independent agents to sell their products to the public.

Just as the Internet revolutionized retailing, it is making waves across the ever-traditional world of insurance. That's because companies both large and small, old and new, can reach the public directly through the Internet. If the right Information Technology powers direct consumer access, the result is a potent combination of efficiency and cost savings for otherwise staid companies.

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