Intel @ European Business Summit 2014: Better decisions now, the new business dashboard 

Intel Logo

Written By Christian Morales, Vice President and General Manager Europe, Middle East and Africa, Intel Corporation

Christian Morales is corporate vice president and general manager of Intel Europe, Middle East and Africa (EMEA)

Christian Morales is corporate vice president and general manager of Intel Europe, Middle East and Africa (EMEA)

We’ve never had more information coursing through our businesses. Data presents an unprecedented opportunity to make better decisions and be more responsive to customers, suppliers and markets. It can be overwhelming, though. Many companies struggle to make sense of it, and to turn those pulsing zeroes and ones into something they can use. Companies estimate that they are “analysing only 12% of the data they already have, leaving 88% of it on the cutting-room floor”, according to Forrester.

The rapid growth of data is set to continue, driven in part by the Internet of Things (or IoT).  This is a significant transformation in our world that is seeing a growing number of Internet-connected devices that can network and communicate with each other and the cloud. As the number of connected devices increases, so does the constant stream of data into businesses. For the first time, many organisations will have visibility into the furthest corners of their infrastructure, into customer and citizen behaviour, and into resource use, all in real time. According to the European Commission, “Economically, it [IoT] could generate billions of Euros that easily translate into growth and employment, provided it ensures trust and security for the European citizens and businesses.” 

Indeed, if businesses are to make the most of this data it is going to be important to secure it and to use it appropriately and within the bounds of good privacy practices. When devices are connected, they may potentially become targets for cyber attacks. It is essential that security is built-in at every layer, from the hardware, through the operating system, and into the security software, to ensure that the infrastructure is secure.

One of the biggest challenges will be to keep pace with the growth in data, so companies can make the most of its potential. Gartner estimates that by 2020, 26 billion units will be installed on the Internet of Things. Those units will generate a huge amount of new information that businesses will need to grapple with. 

With data volumes high and accelerating fast, the old approach of storing everything for analysis later is no longer tenable. Data is highly perishable, and competitive advantage will come to those who can analyse it fastest. Real-time data streams will require real-time analysis. 

That’s becoming possible now, thanks to the latest advances in technology, including server architectures, solid state storage devices, and in-memory analytics solutions. These technologies put the data and the analytics application into memory, rather than store it on disks. With no moving parts, it will be possible to achieve performance that is up to 148 times faster, transforming an organisation’s ability to understand what is happening right now. 

That ability delivers huge returns anywhere where time is of the essence. In transport, for example, authorities could monitor traffic flows across wide networks, correlate that with events calendars and social media data, and predict where jams are starting to form. Diversions can be managed accordingly, resulting in a better experience for travellers, and less pollution from cars stuck in stagnant traffic. 

In healthcare, diagnoses can be made more quickly, based on more diverse sources of information, to ensure faster more effective treatment in the intensive care unit. On a wider scale, epidemics can be identified and managed more quickly by correlating healthcare data with information from unstructured sources such as social media. Society can benefit from better quality of life, and healthcare providers can plan to more effectively use their limited resources.

Retailers might in the past have analysed their daily sales data to refine their prices overnight. Using real-time analytics, they can understand sales and competitive prices for every product minute by minute, and use that information to plan their prices, purchasing and supply chain. As a result, they can be more responsive to local trends, maximise the market opportunity and minimise waste. The World Bank estimates that between one-quarter and one-third of all food produced for human consumption globally is either wasted or lost. Retailers can play a part in tackling this problem by managing their supply chains more effectively, in real time.

In financial services, real-time analysis can help to fight fraud. As transactions take place, a credit card issuer could compare the transaction with typical spending patterns to identify suspicious behaviour. It could look for spending patterns that are strong indicators of fraud, such as large jewellery or electronics purchases shortly after a low-value test purchase and block those transactions. This helps to protect banks, but also helps merchants, many of them small businesses, who would have carried some of the loss. In the long run, it also protects cardholders who are less likely to have their card data stolen if it is likely to be useless.

One example that illuminates how business processes can be transformed by real-time analysis is given by Provimi, a company that makes animal food. Its profitability analysis report used to take 10 hours to generate, covering 2 years of data. Using in-memory analysis, it’s able to call up the report in 2.4 seconds. The company can use the very latest demand forecasts to make purchasing decisions in real time, to reduce wastage and optimise their supply chain. Other companies have experienced similar improvements in their supply chain agility. One automobile manufacturer was able to cut the query response time for its data warehouse from 20 minutes to 45 seconds, to provide real-time insight into customer demand and the supply chain.

Pirelli has realised the potential of the Internet of Things by adding sensors to its tyres. Its Cyber Fleet tyre monitors information such as the tyres’ pressure and temperature. That information is available to the driver in real-time using a device in the vehicle, but perhaps most importantly fleet operators can monitor all their vehicles remotely to plan preventative maintenance. Fuel savings from the intelligent tyres can amount to up to 1000 Euros per year, Pirelli says, because correct tyre pressures reduce rolling resistance. There is also reduced wear on the tyre, and lower staff costs checking tyre pressures. For fleet operators, fuel and tyres are a significant cost. Reducing consumption also benefits society by reducing pollution and waste.

As these examples show, real time insight can transform businesses, governments and other organisations. For companies pushing for competitive advantage, historical analysis will soon be too late. Everybody can know the past, but those who use real-time analytics will define the future.

About the Author

Christian Morales is corporate vice president and general manager of Intel Europe, Middle East and Africa (EMEA). He is responsible for Intel product sales and marketing in the EMEA region.

Morales has held senior international management roles in sales, channel operations and general management. He brings extensive experience in marketing and building brand awareness for new product segments, as well as a strong background in expanding and driving Intel’s business into new and emerging markets. Morales has been based in Paris, Madrid, Sao Paulo and Hong Kong and had joined Intel in 1980 in Paris as an Intel field sales engineer 

Morales graduated with an electrical engineering degree from the Electricity, Mechanics and Electronics Engineering School in Paris. In 1990, he completed the Young Managers Program in the MBA program at INSEAD. 

the sting Milestones

Featured Stings

Can we feed everyone without unleashing disaster? Read on

These campaigners want to give a quarter of the UK back to nature

How to build a more resilient and inclusive global system

Stopping antimicrobial resistance would cost just USD 2 per person a year

Is Eurozone heading for disinflation?

Energy Transition: Commission announces three Energy Compacts at UN High-Level Dialogue in New York

IQ scores have been falling for decades, new study finds

3 things to know about our Sustainable Development Impact Summit

FROM THE FIELD: West Africa’s wishful gold diggers

Japanese banks to move their European HQ from London to Frankfurt after Brexit

Wednesday’s Daily brief: Day 3 of anti-hatred summit, UNFPA turns 50, Ben Stiller #WithRefugees, updates on Abyei

What are the real debates surrounding immigration in an increasingly globalized world?

Why a multi-stakeholder approach is essential to our risk resiliency

New European Bauhaus: new actions and funding to link sustainability to style and inclusion

Violent disorder is on the rise. Is inequality to blame?

Why cities hold the key to safe, orderly migration

This electric plane has flown successfully for 30 minutes – is this the future of flying?

Traffic congestion cost the US economy nearly $87 billion in 2018

How studying genetics and lifestyle can shape a healthier MENA region

First full satellite survey of devastated ancient Aleppo raises recovery hopes

MEPs approve boost to workers’ rights in the gig economy

New seat projections for the next European Parliament EU28

What living abroad does to your self-awareness

‘They’re not able to govern without 50% of the population.’ Former mayor speaks out for women in Afghanistan

COVID-19: latest on evaluation and authorisation of vaccines

Trade Committee advocates lower tariffs in Western Sahara

Repression, use of force risk worsening Bolivia crisis: UN human rights chief

Parliament adopts new rules for short-stay visas

Supply chains have been upended. Here’s how to make them more resilient

EU27 leaders unite on Brexit Guidelines ahead of “tough negotiations” with Theresa May

Guterres in Davos: ‘Dysfunctional’ response to common problems, shows need for effective multilateralism

EU Citizenship: New survey shows EU citizens are more aware of their rights

Missile strike kills at least 12 civilians, including children, in Syria’s Idlib: UN humanitarians

Somalia: UN mission head condemns deadly terrorist attacks in Mogadishu, Galkayo

Electronic cigarettes – The alternative we’ve been looking for?

Service and Sacrifice: Malaysian peacekeepers in Lebanon proud to serve their homeland and the United Nations

MEPs clear another hurdle for the COVID-19 recovery plan

“One Belt One Road”: Its relevance to the European Companies

Female directors reached record highs in 2019 Hollywood

More international support needed to curb deadly measles outbreak in DR Congo

How fungi could save the world

Rare earths are the new battlefront in the US-China trade war. But what are they?

How cultural understanding can help in the cultural shock

Why age inclusive workforces play a crucial role in building back a better society post-COVID

Wolves are back in Switzerland – but not everyone is happy about it

New study shows close link between GVCs participation and economic development

The future of global trade – in 7 charts

G7 summit: Trump Vs. G6 leaders on trade and climate change

EU to increase spending and improve delivery of education in emergencies and protracted crises

UN agency helps stranded Ethiopians return home, ending ‘harrowing migration ordeal’

Human health – litmus paper for the climate change?

Nuclear test ban treaty critical to global collective security – UN chief

The EU Parliament unanimously rejects Commission’s ideas about ‘seeds’

Here’s how to make ‘value-based healthcare’ a reality

As the year closes out, UN political chief talks the art of diplomacy – and crises to watch in 2019.

It’s not kids’ screen time you should worry about – it’s yours

Guterres hails historic Convention banning violence and harassment at work

3 charts that show the economics of European football

Statement by President von der Leyen on recent developments related to Iran and Iraq

Resisting EU budget cuts

The pandemic has damaged youth employment: Here’s how we can help

EU Parliament: The surplus countries must support growth

8 amazing facts to help you understand China today

MEPs back first EU management plan for fish stocks in the Western Mediterranean

More Stings?

Speak your Mind Here

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: