By: Van Leaming
Date: March 7th, 2019


The Past

Gold and silver, salt and spices, roads and bridges, iron and uranium, data and analysis

Athens, the capital of Greece and the military might of the world, rose to power using their vast silver mines and puppet city-states. The Romans used their vast network of 50,000 miles of roads stretching from Europe to Africa to the middle east to conquer most of the world. Gold and silver, salt and spice, roads and bridges, iron and uranium, data and analysis.

Empires are built on foundational resources of the time. Without roads, aqueducts, and concrete, would Rome go on to conquer and control all the land that they did? Without the riches and a strong military, would Greece be the legend we know today? How about the British without their navy, the Spanish without their gold, the Mongols without the brutality and their horseback archers, Android without tracking customers geographic locations, Facebook without screening your messages for keywords, YouTube without analyzing what videos you watch, and Google without recording your every move.

The Present

Data is the new oil

We live in a time where data is king. I’m sure you have heard the saying before, but, it’s true. Without data tracking, we wouldn’t have many of the devices, apps, or software that we hold dear. But what is data without refinement?

Clieve Humby, credited as the founder of the phrase “Data is the new oil,” is quoted saying “Data’s valuable, but if unrefined it cannot really be used. Oil has to be changed into gas, plastic, chemicals, etc. to create a valuable entity that drives profitable activity; so must data be broken down, analyzed for it to have value.”

The abundance of data is overshadowed by the potential that the data could provide. Tech empires such as Google, Amazon, Facebook, and Twitter employee thousands to sort all the data they collect and organize it into something they can use. But even with the thousands that they employee, they still can’t make sense of it all.

So what exactly do they have?

You would be surprised by what big tech has on you. Take a guess, 100 documents of information? 1,000? 1,000,000? Seriously, take a guess. You are a resource, untapped and ready to be extracted. Big tech wants to get to know you and they are using every tool at their disposal to do so.

Google

Analyzing your Gmail messages, location tracking on Android devices, recording your search history, and mapping your app usage. You can now request all the information that Google has on you and you won’t imagine how much they have. Dylan Curran from The Guardian requested his data and the file they sent him totaled 5.5GB, which equals 3 million word documents. When I requested my data, Google sent me a file total 9.38GB, which equals 5.1 million word documents. Was your guess correct? Request the information for yourself HERE.

 

 

Facebook

Your messages, your login locations, files you’ve sent and files you have received, how long you spend on your device, your contacts, and your audio files. I requested my data that Facebook stores and it totaled 480mb, equaling around 320,000 documents. Request the information for yourself HERE.

 

 

Amazon

The leader in CFE tech (collaborative filtering engine) analyzes your every move and can accurately predict what you will buy next. Amazon refers to the data they have on you as a “360-degree view.” They have everything they need to precisely target you with ads. They can target you down to a 20 to 35-year-old female living in an apartment with an income of $45,000 who enjoys football and biking.

 

 

But collecting and analyzing data isn’t all bad. We benefit from it every day. Android services, Gmail services, Amazon products, Google search results, having a Starbucks not too far away but far away enough that’s it’s a little annoying. Everything that we take for granted has ties to data collection and tracking. So how can you jump on the data collection bandwagon and benefit from it? If you are a large business, then I’m sure you deal with this on a day to day basis. Every aspect of most large businesses is controlled by data collection and data analytics.

How can these empires work for you?

Modern empires are built by data collection and data analysis. Here at CXO Nexus, we take data that your business records and turn it into a valuable commodity. We specialize in managing vendor spend data. Vendor spend data can be hard to analyze due to transaction volume, purchasing through resellers, and data quality. Current financial systems do not have the ability to organize and categorize vendor spend data.

Data management in the C-Suite comes down to understanding how you spend your budget. Our A.I. and machine learning platform attacks this problem of having the data but not knowing how to classify, standardize, and normalize vendor spend. We provide insight into your data by understanding key market dynamics and peer benchmarking through our Visual Fusion Engine™ (VFE™).

We see where data management is going, and it’s going to revolutionize the market place. Data is the new oil. Don’t believe me? Just ask our clients! We have provided value to companies that no other product can offer.

Gold and silver, salt and spices, roads and bridges, iron and uranium, data and analysis.

Here at CXO, we are building on the untapped and ready to be extracted resource of the modern empires, data. Next time you think about how Google, Facebook, and Amazon record your data, think about how Rome and Greece conquered, how the Spanish, the British, and the Mongols prospered. Remember how data is the resource that powers our modern empires.


Send us an email or a LinkedIn message to learn how our AI and machine learning systems are helping companies tackle their data.

Email: Steven Hackenburg, Chief Development Officer; shackenburg@cxonexus.com

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Cross Business Collaboration

You lead IT spend and determined that the best solution for your company’s overall data mining needs is a solution with DataFox for $1.2 million.

Unbeknownst to you, your European subsidiary purchased data mining solutions from Rialto for $900,000.

You know that the solution your department purchases and manages could solve for the European marketing’s team needs.

With this knowledge and insights, you can streamline your overall company spend on data mining and marketing and get even better solutions and value out of your vendor, for less.

Eliminate Excess Vendors

Using the CXO Nexus InCight™ dashboard reveals that you are paying four unique security companies, three of whose contracts you believed had expired.

Their contracts had automatically rolled over and you realize that you are paying for redundant vendor services.

Ensure Regulatory Compliance

You realize you are spending 800% more on a regulated vendor than you were aware, due to multiple resellers and geographical spend discrepancies.

(Not uncommon).

You are now at risk with regulatory agencies for inaccurately reporting and for spending more on a riskier vendor.

Identify Business-Led Spend

Business-led IT investments can be additive (they don't divert money away from the CIO's budget) and they often focus on collaboration tools, analytics and technologies to engage customers or improve, whether it's a new CRM tool or social media analytics.

If spent wisely, these investments can give a competitive advantage to a specific part of the business, whether finance, marketing or sales.

Business leaders are seeking out their own tools to analyze and present data. But these tools are only valuable if employees have the skills and judgment to use them effectively for decision making. 

As long as the CIO retains oversight and can educate the rest of the business about the risks, it can often be a better, cheaper way to achieve the goals of the IT department, especially when it comes to new innovations.

John LindsayChief Financial Officer

John Lindsay brings over 35 years of experience at Financial and Research Enterprises. He served as EVP and CFO of The451 Group Research and has held senior finance roles at AMEX & Saatchi & Saatchi.

KEN MALEFounder & CEO

Ken Male, CEO - has over 25 years of leadership positions in IT and Internet Research working across the C suite, from Gartner to Jupiter to Apptio. Founder & CEO of IT Research firm TheInfoPro (TIP), acquired by The451 Group in 2011. Prior to that, Ken was SVP of Global Sales for Jupiter Research and was active in their 2000 IPO. He led Benchmarking & Data at Apptio from 2013-2015.

John LarkPresident

John Lark’s in-depth background includes business and technical leadership, marketing strategy and tactical marketing know-how, SaaS and Cloud innovation and evangelism, marketing strategy, API development, and collaborative growth via partner engagement and development to the CXO Nexus team.
John was formerly Global Vice President of ISV Business Development at SAP Ariba. Prior to that, as the Vice President of Business Development and Partner Cloud Ecosystems at SAP Ariba. John was responsible for developing and launching a new business inside of SAP that melded cloud solutions with partner ecosystems and expertise, API's, and data exchanges that delivered innovative global capabilities to customers that ran the gamut of delivering core enterprise fundamentals to analytics and machine learning to Artificial Intelligence (AI) and bots. John’s efforts led to corporate-wide scale-ability in operations as well as an innovative profit model. John bridged across internal and partner executives and among diverse roles such as Finance, Operations, Legal, Controlling, Product Development and Sales.

Monthly Expense Reduction Opportunities

A Fortune 500 spends $1M+ on a team that includes 12 data scientists + hired consultants to understand spend data. After 3 months, the data is inaccurate, un-actionable and only relevant at that moment in time.

With CXO Nexus:

> Redundant spend on Cisco is identified as multiple resellers are identified as selling across multiple departments.

> Vendor Rollup feature reveals you’re spending $7M more with Dell than you thought because you didn’t realize that Dell acquired VMWare and you weren’t leveraging your combined spend with both companies.

> This Visibility gives you the negotiation leverage for a discount saving you millions.

> Your cost savings from these insights enable investment in the latest Cybersecurity and mobile, driving higher revenues and performance

Negotiation Leverage

You negotiate with Pivotal believing that you spend $1.5M each year with them per year.

You learn that Dell has acquired them, and between Dell, EMC, VMWare and Pivotal, that you are spending an annual $14M with all of them under the Dell umbrella.

You bring this leverage into your negotiations and drive much better terms across all of these vendors.

Peer Comparison

You are in the midst of a major cloud migration.

You are considering a serious upgrade to your systems.

You are assessing whether to stay committed to your primary storage vendor, but through the CXO Nexus Peer InCights, you see that spending is down significantly with this vendor by your peers, and that many are investing in a newer solution from another vendor.

This performance insight spurs you to research further into competitive developments, patent filings and macro trends.

Real Time Spend Categorization

You spend $10M/year with Cisco, but you have no idea how that spend breaks down. 

Your procurement system identifies this spend as networking, but you realize that 20% of that spend is on networking, 15% is on Wireless and Mobile, 40% is on security, 17% is on Data Centers, and 8% is on Analytics.

This information will change your needs analysis and the way you negotiate with your vendors in the upcoming year.

Reduce Vendor Risk

You have identified vendors who are no longer in compliance with your regulatory needs, but because you have not audited your vendor list recently, you realize that several of your vendors no longer satisfy your security requirements.

You realize that some of these contracts extend out for years.

You can begin mitigating this risk by shoring up other vendors who meet your risk standards.