There isn’t a silver bullet to make your business “the next Uber”, but one vital aspect of the Uber culture these businesses have instilled in their employees, customer service and operations, is understanding and using data, writes SEKETE PATRICK MAPHOPHA of NetApp Africa.
Nowadays, if you watch Dragon’s Den or The Apprentice, the majority of the proposed business ideas – not necessarily those that receive investment – are online-based businesses or apps. At the very least, budding entrepreneurs are advised to ditch the traditional retail store. Therefore, it’s no wonder that companies like Amazon.com, Uber and AirBnB, the fastest-growing companies in their respective fields, are both the inspiration and envy of SME owners.
There isn’t a silver bullet to make your business “the next Uber” as so many claim, but one vital aspect of the Uber culture these businesses have instilled in their employees, customer service and operations, is understanding and using data.
Mantras like “Data is the new currency”, “Data = profit” and “Data holds the key to our future” are bandied about, and it can hardly be denied that for a company that does not produce any products of its own, data is arguably its most valuable asset. Central to this mantra needs to be a cloud storage solution like NetApp, aimed at simplifying data control and mobility across on-premises, hybrid cloud, and public cloud infrastructures.
Fostering a ‘sharing economy’
The ubiquity of technology in our daily lives and the growing digitisation of services means that our lives are becoming more and more “connected”, in terms of being connected to the internet and to data from multiple sources which are linked together and used to make another service relevant. Now it’s time for SMEs with an appetite for growth, or that want to increase their value proposition to existing customers, to make data a key part of their business culture.
The proof of the success of data for driving business growth can be seen in the “Sharing Economy” trend, which began in the early 2000s. As consumers, we’re constantly connecting intelligent cars, speakers, watches, lightbulbs and more to the Internet. Experts are therefore predicting a 4300% increase in data production in 2020 compared to 2012. In order to address the data overload, SMEs need to rather invest in a hybrid cloud solution, such as one built on a Data Fabric, to place the control in their hands. With that solution they can:
- Synchronize data between on-premise and cloud storage for data analytics purposes;
- Back up data securely to on-premises, hosted, or public clouds by using cloud-integrated storage;
- Gain insights into their cloud workloads across on-premises and cloud environments with.
By having full control over data workloads, connecting to consumers can be made easier than ever before.
Building out the necessary infrastructure to take data to definitive success
By utilising the data at a company’s disposal from any and every relevant channel, SMEs stand to gain in two key ways.
Firstly, they can use the data for their own strategy, improving competitiveness and operational efficiency, while being able to create new products and services with real, actionable insight into the target customer. This is crucial for SMEs who have much smaller budgets than their enterprise rivals with which to develop and research new offerings, and can be a key driver in allowing SMEs to compete on a larger scale.
In order to fulfil this, SMEs will have to consider their IT infrastructure and look into storage and analytics solutions that can support both the volume of data required, and the processing capability necessary to transform huge amounts of raw actionable data into useable insights. The NetApp ONTAP storage operating system is one such example, and can be used across cloud and on-premises infrastructure to create a Data Fabric that acts as a single system, meaning that data is more easily managed and controlled.
Secondly, for SMEs who either can’t or don’t want to use data directly, there is also a financial opportunity presented by the growth in data. Data sets can be sold on to third parties who may be able to transform it into exciting new innovations and services.
We are living in a data-powered world, where data, devices and systems are unifying to produce the best products and services for customers, and the best ROI opportunities for businesses – SMEs and enterprises alike. As more devices become connected, we are moving towards a future powered entirely by data – and SMEs can’t afford to miss out.
* Sekete Patrick Maphopha, NetApp Africa CTO and Technology Evangelist
Mobile is the new branch
Standard Bank has launched an account for mobile devices that gives back 500MB of data a month
Standard Bank has introducd a R4.95p/m bank account called MyMo that customers can open on their mobile devices, loaded with data and airtime offerings and other benefits such as virtual and Gold physical card.
MyMo account holders will also enjoy the convenience of a cheque account through a Visa and Mastercard gold card. Once the account is open, users can choose to either receive R50 in airtime or 500MB of data a month, if their card is swiped more than four times a month. A further megabyte of data is loaded on the account for every R20 spent.
“MyMo is an account for everyone, whether you just landed your first job or have been around the block. With no documentation required it only takes a few minutes to open the account,” says Funeka Montjane, Chief Executive for Personal and Business Banking, South Africa, at Standard Bank Group. “For just R4.95 a month customer will be able to enjoy free swipes and ATM withdrawals at only R6.50 for amounts under R 1 000.
“Mobile is the new branch. This account is about bringing the mobile branch into customers hands, it is about convenience and security while banking.”
She says mobile offers low cost transactional banking which integrates people and businesses into the new connected economy, making mobile the new branch ecosystem that will drive and connect Africa’s growth. Physical connections to the economy are rapidly changing to digital where banks have to move from being financial institutions to service organisations.
“In the past people congregated in communities and eventually cities to maximise the advantages of connectivity. Today a simple hand-held device has the potential to open infinite doors, transforming individuals’ access to opportunities, regardless of where they are, and like never before in history.
“Historically, a bank account represented access to economic citizenship. Today, having a simple device enabling digital access to a modern banking platform is a passport to global connectivity and vast human development potential.”
The bank says it is using technology, and mobile phones in particular, to deliver low-cost transactional channels accessible to all our customers. The evolution in mobile can be seen in transaction options like cash back at the retail checkout till rather than the ATM, free digital banking rather than using a branch, and the ability to transact using digital wallets, even without a bank account.
“Developing comprehensive connected ecosystems requires a mind-set change from Africa’s banks,” says Montjane. “Banks will evolve away from traditional financial service organisations, into service ecosystems enabling broad universal access to almost everything like enhanced purchasing experiences of vehicles and homes, online procurement of goods and services and lifestyle elements like rewards and travel.
“These connectivity drivers will also act to future-proof evolving connectivity ecosystem by allowing us to offer untold future services while deriving income from as yet unrealised revenue streams,.
From a customer perspective, the kind of ecosystems of knowledge, access and, ultimately, connectivity that banks will come to provide will radically transform the share of life that almost all individuals will be able to access.”
Two-thirds of SA staff hide social media from bosses
With 90% of people in employment going online several times a day, it can be hard for most workers to keep their private and work-life separate during the working day (and beyond). The recently published Global Privacy Report from Kaspersky Lab reveals that 64% of South African consumers choose to hide social media activity from their boss. This secretive stance at work also extends to their colleagues, with 60% of South Africans also preferring not to reveal online activities to their co-workers.
Globally, the average employee spends an astonishing 13 years and two months at work during their lifetime. Interestingly though, not all this time is directly related to solving work tasks or earning a promotion: almost two thirds (64%) of consumers admit visiting non-work-related websites every day from their desk.
Not surprisingly, 35% of South African employees are against their employer knowing which websites they visit. However, more interestingly, 60% of South African are even against their colleagues knowing about their online activities. This probably means that colleagues constitute an even greater threat to future perspectives of an office slouch or maybe the relationships with colleagues are more informal and therefore, more valuable.
On the contrary, social media activity appears to be a less private domain for many and therefore, more suitable for sharing with colleagues but not the boss. This is probably because workers fear harming the public image of a company or interest in decreased staff productivity motivates companies to monitor employees’ social networks and make career changing decisions based on that. Such policies have led to 64% of South Africans saying that they don’t want to reveal their social media activities to their boss and 53% even don’t want to disclose this information to their colleagues.
A further 29% are against showing the content of their messages and emails to their employer. In addition, 3% even said that their career was irrevocably damaged as a consequence of their personal information being leaked. Thus, people are worried about how to build a favourable internal reputation and how not to destroy existing workplace relationships.
“As going online is an integral part of our life nowadays, lines continue to blur between our digital existence at work and at home. And that’s neither good nor bad. That’s how we live in the digital age. Just keep remembering that as an employee you need to be increasingly cautious of what exactly you post on social media feeds or what websites you prefer using at work. One misconceived action on the internet could have an irrevocable long-term impact on even the most ambitious worker’s ability to climb the career ladder of their choice in the future,” comments Marina Titova, Head of Consumer Product Marketing at Kaspersky Lab.
To ensure workers don’t fall prey of the internet threats at a work, there are some core guidelines to adhere to in the digital age:
- Don’t post anything that could be considered defamatory, obscene, proprietary or libellous. If in doubt, don’t post.
- Be aware that system administrators may at least, in theory, be informed about your web browsing patterns.
- Don’t harass, threaten, discriminate or disparage against any colleague, partner, competitor or customer. Neither on social networks or in messages, emails, nor by any other means.
- Don’t post photographs of other employees, customers, vendors, suppliers or company products without prior written permission.
- Start using Kaspersky Password Manager to ensure your social media and other personal accounts are not at risk of unauthorised access by someone else in an office. Install a reliable security solution such as Kaspersky Security Cloud to protect your personal devices.