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

Do NOT follow this link or you will be banned from the site!
Barrington Young PH.D.VP Data Sciene & Machine Learning

Barrington Young, Ph.D. is an applied technology researcher skilled at proof-of-concepts and pilots for financial applications, a seasoned expert in right-time business intelligence solutions, an advocate of innovative uses of the human-machine interface for the development of intelligent systems and adept at extracting, distilling, enriching and codifying expert knowledge for automation.  Dr. Young was formerly the Business Intelligence Engineer / Data Scientist for Amazon, the Principal Data Scientist for USAA, the Principal Data Scientist for Schwab, Principal Data Scientist at Alight Solutions, the Business Intelligence Architect for Boeing, and the Computational Intelligence Expert for IBM at AK Steel. He is also a professor at St. Edward’s University in Austin, Texas. 

Becky Klein PMP, CSMSenior Project Manager

Becky Klein is a PMP certified senior technical project manager and Certified Scrum Master with extensive experience within the financial services industry managing complex regulatory reporting projects and initiatives, and digital banking solutions.

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.

Gary GuanSoftware Engineer

Gary Guan is a full-stack software engineer who is adroit with MERN stack development. Gary differentiates himself with his creative solutions to technical challenges, garnering attention from former employers such as Bank of America Merchant Services and Mine Sweeper.

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.

Irene BykovskySecurity Operations Engineer

Irene Bykovsky is our Security Operations Engineer, who has been a senior IT professional with more than 10 years of extensive experience, specializing in cloud architecture/computing, application programming, deployment and maintenance, project lifecycle analysis and development, software evaluation and selection, managing technology groups of people and projects through all phases of the system’s life cycle.Irene was the Principal AWS/DevOps/SR Engineer at Aspect, and prior to that she was the technical lead for NBC Universal and a software engineer for Walt Disney/ABC Network (ABCNews.com).

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.

Leif EastersonGlobal Integration Lead

Leif Easterson is the global integration lead working with clients to implement our solutions. He is a technology financial/business management and sourcing executive in the global financial services for IS, Risk Control, Application Development, and Technology. Leif has been a consultant in Info Security, Vendor management, Risk management, App development and tech Infrastructure at Citi, and a senior contracts manager at Northrop Grumman prior to joining CXO Nexus.

Mohammad FalakmasirSenior Engineering Manager

Mohammad Falakmasir, Ph.D. Candidate in NLP and a Machine Learning Scientist and full-stack engineer, formerly worked for Astound and was the Data Scientist at LegalSifter and Pearson. Mohammad manages the product development team.

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.

Shelley AlgerVP Corp Development

Shelley Alger brings over 25 years of business startup strategy, business development, operations, investor relations and strategic growth experience. She was the first employee and managed business development for Critical Path, one of the first SaaS companies, and later co-founded a food technology company. She is an advisor to several early stage and social impact companies.

Sir DraftonSenior Software Engineer

Sir Drafton is a senior software engineer with 15+ years in development, design, management, testing and implementation of various applications and systems. Sir is experienced with all stages of the development cycle for projects, producing solutions, systems and applications that give CXO Nexus a competitive edge with results for our customers. Sir has been a senior software engineer for Bank of America, TweetConnect and co-founded BitBot, a chatbot platform to optimize engaging experiences on social media.

Steve HackenburgChief Development Officer

Steve Hackenburg has more than 10 years excelling in sales leadership within the global IT infrastructure market, at Tier1 Research and The451 Group. Steve is a proven leader and accelerator of sales and business development.

Suzanne FavaSenior Designer, UI/UX

Suzy Fava brings over 20+ years of design, creative consulting and front end developer experience. Founder of Ideatek Design, a small agency supporting clients technology and design needs. Suzy brings a broad base of knowledge and a problem solving mind to the development of the CXO Nexus line of products.

Theran LeeFounder & CTO

Theran Lee drives the product vision of CXO Nexus. He brings 30 years of technology and leadership positions in IT, Telecom and Financial Services. Most recently served as VP of Infrastructure (Architecture, Network, Workplace, Mainframe, ITSM, Storage, Database) at Schwab. Prior to that, Theran was the Regional Director Systems Engineering at a Fortune 20 Telecom Company building Internet backbone and Commercial connectivity & security solutions, where he was voted Rookie of the Year and Engineer of the Year. Theran has had Leadership and Development positions at leading Open Source Financial Accounting, and Investment Banking software firms as well.

Vince TotoroTechnology Finance

Vince Totoro is an experienced executive with demonstrated accomplishments in financial planning, analysis, reporting & control, expense management and cost efficiency initiatives. He has a built a strong career creating, managing and re-engineering business processes to support financial reporting, budgeting, forecasting and allocation/charge-back methodologies. Vince was formerly the Vice President of the Corporate Finance Division for First Data, was the Managing Director and Chief of Staff for End User Technology and the CFO for Enterprise Technology for JPMorgan Chase & Co., as well as the Technology CFO and Executive Director of the Technology Division of Morgan Stanley.