big data Archives • NMS Consulting A Vision for Solutions Fri, 29 Apr 2022 19:17:14 +0000 en-US hourly 1 https://wordpress.org/?v=6.8.2 https://nmsconsulting.com/wp-content/uploads/2018/12/cropped-NMS-Favicon-32x32.png big data Archives • NMS Consulting 32 32 The True Cost of Big Data https://nmsconsulting.com/the-true-cost-of-big-data/ Fri, 31 Jan 2020 13:43:00 +0000 https://nmsconsulting.com/?p=4076 Big Data

From 2012- 2020, the digital data domain will grow by two times every two years.

The post The True Cost of Big Data appeared first on NMS Consulting.

]]> Big Data

statistics


By Oscar Perez and Arthur Mansourian

Between 2012 and 2020, the digital universe will grow by two times every two years.

The recent availability and generation of data has created multiple business opportunities. Decision support has been taken to a new level. The explosion in data has created new platforms to make better business decisions. Our world is a world of Business Intelligence that enable organizations to be proactive and not just react to market changes. It allows organizations to increase the pace of innovation and improve business processes. Big Data creates data driven organizations.

Companies can use current and historical sales data to adjust manufacturing and fulfillment levels. It facilitates “just in time” stock, the right product mix, reduces inventory levels and prevents out of stock situations for consumers, all while margins are improved and the company is able to approach customers in a personalized way and with the trade promotions that the market wants. Insurance companies can use large amounts of transactions to measure risks, conduct what if scenarios, stress tests, and external factors to generate exposure and risk analysis.

The Big Data Opportunity

The opportunity is to leverage all the data assets to be proactive and enhance the business opportunities, capture new markets, customers, and increase margins. The key is to leverage the value of the large amounts of data, identify the ideal business areas of an organization and maximize the use of technology to get the best business insight and edge. Most organizations do not use Business Intelligence and Analytics effectively. The vast majority are not leveraging the data and turning it into “Business Intelligence”. Companies have “Data Warehouses” or a collection of data in one place. Less than 20% of companies have mature Business Intelligence that are used in the execution of the company business strategy. Executives get out of date or incorrect information. However, companies that leverage Business Intelligence and Big Data are more competitive and profitable.

What are the true costs of Big Data? There are multiple studies concluding that an Open Source data warehouse with 30TB of data cost approximately $1,000,000 per year.

The True Cost of Big Data



While Open Source Big Data offers low cost software, the hardware costs are high. Big Data offers business benefits in tackling Risk Management, Fraud Management, and Customer Insights. All costs of Big Data need to be evaluated including hardware, power/energy, and talent.

The True Cost of Big Data



The latest big data statistics show some remarkable figures such as that from 2012- 2020, the digital data domain will grow by two times every two years (Source: IDC).  Also, in a recent survey by MicroStrategy, Between 2012 and 2020, the digital universe will grow by two times every two years. (Source: IDC). This shows just how important it is to fully capture the power of the information that is beneath all the data we see around us.  Another interesting fact is that data applications and analytics are estimated to grow from $5.3 billion in 2018 to an astounding $19.4 billion in 2026 (Source: Statista).


About the Authors

Oscar Perez

Oscar Perez

Oscar Perez has functional expertise in Artificial Intelligence, Big Data, supply chain, SOA, SAP, CRM, procurement, corporate finance, and product marketing. He specializes in software selection and implementation of SAP ERP packages. Oscar has appeared in publications including Computerworld, InformationWeek, and The Wall Street Journal.

Mr. Perez has conducted project reviews for Goldman Sachs, Bain Consultants, Brown Brothers Harriman, McKinsey & Company, Norges Bank Investment Management, P. Schoenfeld Asset Management, Iconiq Capital, Greencape Capital Pty Ltd, JMI Equity, Coatue Management, The Boston Consulting Group, Platinum Asset Management, Invesco, Guggenheim Partners and private equity firms.


Arthur Mansourian

Arthur Mansourian

Arthur Mansourian has a 12-year track record as both a management consultant and investment banker, advising clients on valuation, capital markets, structured financing, mergers, acquisitions and divestitures and general corporate strategy. 

Mr. Mansourian served as Vice President while at NMS Capital Advisors, when the company achieved cumulative sales growth of over 5,100% with annual compounded sales growth in excess of 120% from 2012 to 2017.

The post The True Cost of Big Data appeared first on NMS Consulting.

]]> NMS Consulting Partners with Cloud Primero | Industry News https://nmsconsulting.com/nms-consultings-partnership-with-cloud-primero/ Tue, 07 Sep 2021 10:14:52 +0000 https://nmsconsulting.com/8207/nms-consultings-latest-appointment-dr-ferkan-celik-featured-on-consultancy-me-com-copy/

NMS Consulting and Cloud Primero announced today that they are establishing a strategic partnership to bring their combined services solutions to their clients.

The post NMS Consulting Partners with Cloud Primero | Industry News appeared first on NMS Consulting.

]]>

NMS Consulting Partners with Cloud Primero | Industry News

NMS Consulting and Cloud Primero announced a strategic partnership to bring their combined services solutions to their clients.

 

NMS Consulting Inc. (“NMS”) and Cloud Primero B.V. (“Cloud Primero”) announced today a strategic partnership, to bring their combined services of management consulting and digital transformation solutions to their clients.

NMS is a global management consulting and strategic advisory firm that specializes in delivering services to a global client base of private and public companies, government agencies, philanthropic organizations and the individuals who lead them. Cloud Primero is a technology consulting and services company that helps build digital solutions and implement digital transformation initiatives using the latest in big data, cloud services, AI, and cutting-edge custom application development services.

Both management consulting and digital transformation solutions industries are on the rise. Arthur Mansourian, Senior Manager of Global Operations at NMS Consulting said, “More than ever, businesses are having to change their operating models and methods to cut costs, implement the latest technologies, and digitize almost all analog operations. Of all the emerging trends, we believe the most important will be the adoption and use of automation and big data to operate at the same efficiency and speed as the clients that we serve.”

The partnership between NMS and Cloud Primero will allow the expertise from both companies to be leveraged by clients. Both firms will collectively provide a comprehensive solution package that will bring great value to existing and future clients in an innovative way.

“I am delighted to announce the launch of our alliance with Cloud Primero,” stated Harry Moore, Senior Partner and Head of Europe at NMS. “This now widens deliverability of Digital Transformation services provided by NMS Consulting to its clients. Cloud Primero is a globally recognized provider of digital technical solutions which supports the Corporate Digital Strategies provided by NMS Consulting to its clients across the world. It enables us to provide the complete digital solution from strategy to hands on implementation. Both our organizations are results driven with a track record in delivering cost effective solutions. I look forward to our future working relationship in providing a world class service to our clients.”

About NMS Consulting, Inc.

Founded in 2018, NMS Consulting is a global management consulting and strategic advisory firm that specializes in delivering services to a global client base of private and public companies, government agencies, philanthropic organizations and the individuals who lead them.

With a global footprint of fifteen offices located through the United States, Asia, Europe and the Middle East staffed with more than 250 seasoned professionals, our clients benefit from a combination of our diverse skills, expertise and global organization offering a unique multi-disciplinary 360⁰ solutions platform.

Unlike other leading management consulting firms, NMS Consulting provides its clients the experience of working with a “big firm consultancy” without the higher premium. Client projects are staffed with qualified professionals who have trained at many of the leading global consultancy firms enabling the NMS professionals to deliver “big firm” experience and capabilities, while providing flexibility on mandate sizes and pricing.

The post NMS Consulting Partners with Cloud Primero | Industry News appeared first on NMS Consulting.

]]>