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Author: Andres Zunino

offshore software development rates nearshore software development

Our goal with this article is to help you make your business grow using offshoring software development. Firstly we can agree that offshore development is the same as outsourcing, and the central part focuses on getting the best offshore software development rates.

In this context, you’re sending your software development to be done by people located in another country far from your business. Some software business managers could see ‘offshoring’ as a risky maneuver, but reality says that more software development companies trust this modality year after year.

Some of the reasons some businesses recourse to outsourcing are the lack of human resources or lack of needed qualification level within their own company. So, businesses with this need to search for a trustful third-party offshore development company with reasonable offshore software development rates that can help them. 

Most software development’s outsource tasks are mobile and web app application development, data management, blockchain, or AI development. By outsourcing, you don’t need to hire and train new staff, and at the same time, you can be sure to get the best quality software delivered to you at the accorded rates and terms.

You can trust the effectiveness of these long-standing practices adopted by many of the world’s largest and prominent corporations. Due to the digital transformation, many worldwide companies are motivated to offshore their software development needs. 

Below you can read why offshore development companies have become an essential part of the global economy.

How Can Offshore Software Development Help Your Business?

In accordance with this article from Skelia there are many reasons why software companies hire offshore developers, considering the speed at which the digital industry is expanding. 

Companies that want to stand ahead of their competitors need to assign lots of time, effort, and capital to develop innovative and creative software solutions. In this framework, businesses that are unable to hire the most talented recruits may not achieve their goals efficiently.

Therefore, by hiring offshore developers, these companies free themselves from the obstacle of finding first-class staff while they receive the best software solutions with predefined rates and terms.

Below you can find some of the reasons offshore software development can help your business:

Outsourcing Is More Cost-Effective

By hiring offshore developers, you can prevent your business from running out of money. You will not have to spend on additional expenses such as office rent, salaries, insurance payments, vacations, and many others. 

By hiring a trustful offshore developer with the best offshore software development rates, you will be routing funds into your business’s most crucial areas, developing your projects. 

Offers Flexibility

Flexibility is critical when you scale your team or change the technology stack to match the project’s size. Outsourcing developers are more flexible and can easily switch their focus from one task to another.

Delivers Advanced Skill

Many developers worldwide are working for well-known tech giants such as  Apple, Microsoft, DELL, IBM, and others. IT outsourcing provides you with broad access to a great talent pool with the right skills. 

Nearshore software development in LATAM countries can be very fruitful due to the qualified professionals who will be happy to participate in your startup’s development.

Guarantees Quality

When it comes to the quality of the code created by a dedicated development team, one important thing to keep in mind is that a project’s success and quality don’t depend on the country in which it is released. Instead, it depends on the people who built it and how passionate they were about their business.

What Is the Difference Between Nearshore, Offshore, and Onshore Software Development?

Choosing an IT outsourcing services vendor can be difficult, particularly when you don’t have experience with outsourcing. The first point you need to take is deciding where you will look for a software development outsourcing partner. 

Although you will be looking for the best offshore software development rates, you need to pay attention to the three primary options for outsourcing:

nearshore, offshore and onshore. Bellow, you have detailed the main differences between these options: 

Nearshore Software Development

Nearshore software development may be the most convenient option, and it is when you outsource to developers from countries located near similar time zones. 

Your business can get the best offshore software development rates by nearshoring software development. 

Typically, customers count on geographic proximity and cultural similarities. For instance, a nearshore software development location for the United States would be a LATAM country.

Offshore Software Development

With its option, the service provider’s company is located in a different country found in a different continent with a notable time zone difference. 

For instance, an offshore location for the United States would be India. The negative side of Offshore outsourcing is the lack of proximity and cultural similarities that can make the treatment between your team and the Offshore developer’s team complex.

Onshore Software Development

Onshore outsourcing is when you outsource to developers within your country. Some companies find this option convenient. 

Taking into account that the main reason for outsourcing is to reduce your business’ costs, the negative side of this option is that it can be more expensive than the other options on the list.

Offshore Software Development Rates

As we analyzed above, there are three significant options where you can find a software development outsourcing partner. This decision is crucial and needs to be taken comparing the best offshore software development rates and the quality of the partner.

Thanks to modern technologies, your business can save costs by outsourcing software development to an overseas programmer team, according to this article from youteam.io

Outsourcing methods as nearshoring and offshoring can allow your company to contact a vast global talent pool. The average cost of software development services differs from country to country, and development costs may change depending on the platform you use to hire offshore developers.

Offshore Software Development Hourly Rates by Region in 2021

Let now see an overview of regions and software development rates by areas with the different outsourcing methods that we have seen above. It will help your business make a more informed decision when hiring from overseas.

Nearshore Software Development Rates in Latin America

According to IDC, the Latin American IT industry will be growing in 2021 despite political uncertainty and low economic growth. As predicted by Ricardo Villate, vice president of the consultancy for the region, the IT market reached 4.8% in 2020. IDC reports an increase in business spending on technologies related to AR/VR, AI, IoT, 3D printing, cloud, security, and robotics. 

Uruguay, Argentina, and Brazil are the leading software outsourcing country in Latin America and South America. Over the last 15 years, Uruguay has become a first-class business hub and is chosen by foreign companies to develop their IT products or services.

Uruguay is a country of 3.5 million with an IT services machine that continues to perfect the global export model’s execution. Today, foreign companies come to this country to develop their IT products or services to expand their regional operations. 

Uruguay has remarkable technological advances, which place it at the forefront of technology in the region and the world, the highly qualified talent, and its quality of life. This country is a technological hub with outstanding connectivity and internet penetration. 

Ninety percent of Uruguayan homes have access to fiber optics, which guarantees fast download speeds, and 100% of public schools have Internet access.

Argentina is ranked 14th among the best software outsourcing countries and is number 2 in the region. It is also the world’s 10th digital nation in the Tholons Services Globalization Index 2019.

When it comes to offshore software development rates, the average hourly rate for software developer talent in Latin American countries is 45.00 dollars per hour.

Offshore Software Development Rates in Eastern Europe

Eastern European countries such as Ukraine, Belarus, Poland, and Romania are now among the top 5 global software development centers, according to a report issued by AVentures Capital, Aventis Capital, and Capital Times at the beginning of 2019.

The average hourly rate for software developer talent in these Eastern European countries is 33.00 dollars per hour.   

Offshore Software Development Rates in Asia

Asia boasts the most significant number of offshore software developers as compared with other regions. In 2018, only in India, this number amounted to almost 3 million. China is also an attractive offshore development destination. Chinese developers are the first across all HackerRank challenges. 

The Chinese government supports the tech sector by offering economic incentives. For example, now, there are more than 50 science and technology industry parks across the country. 

The average hourly rate for software developer talent in Asian countries is 26.00 dollars per hour.

Advantages of  Nearshore Software Development in Latin America

You need to look for reliable partners with whom you can achieve long-term relationships. Therefore, it is essential to know why Latin America is an excellent nearshore software development destination, according to this article from perficient.com

Great Value and Cultural Similarities

Prices in Latin American are commonly higher than in places like China or India, but the benefits far exceed total costs. It’s not enough for companies to focus on the cost benefits. 

The end costs might be very similar when you factor that you’ll be spending more time trying to connect with your vendor in Asia than in Latin America.

Little Time Difference

As  Latin America is so close to the United States, the time difference is minimal compared to India or China. It means that your business will have nearly an entire workday of overlap with your nearshore software development team.

The number of issues that originate from time differences cannot be discounted. It can often lead to massive delays, which can significantly increase the project’s cost, especially if it’s a vital component of a larger project.

Accessibility

Building a solid relationship with your team is the key to success in any IT outsourcing endeavor. The great proximity means that it’s easier and cheaper to get there.

Being able to hop on a flight, visit your team, and return within a few days is invaluable, and you can do it with far greater frequency than if you were outsourcing to Asia.

Cultural Similarities

It is another excellent advantage of proximity. Latin American culture similarities with the U.S. make intercultural interaction to goes much smoother. Latin Americans will have no problem suggesting more effective alternatives when they can’t do something. 

In Asia, in contrast, the attitude of saying no or contradicting your client is considered a lack of respect. And although it was for the client’s benefit, it is something they simply don’t do. 

As miscommunications and delays are reduced over the long term, the cultural similarities between Latin American and the U.S. can eventually lead to far more significant advantages.

Creativity

Creativity is essential in your business to generate innovation and to remain competitive. It isn’t easy to innovate when working with an IT outsourcing team that will never develop new ideas or more efficient ways of doing things because it’s not how they’ve been brought up to think.

Latin Americans will always tell you if there’s a more efficient way of doing something or if your idea isn’t quite as great as you believe it to be. Latin America is a great creativity hub. Combined with their lack of timidity in expressing themselves, people from this area of the world are great partners for any company that wants to innovate.

This creativity is also great when it comes to problem-solving. An Asian team will wait for clear instructions on how to solve an issue, even a minor one. A team from Latin America will at least try to find a way to solve the problem.

Investing in the Future

Many Latin American governments have realized that the IT industry can provide them with significant growth independent of poor infrastructure issues. 

With software development, all a partner company needs is a minimal infrastructure focused on the quality of computers and internet connections. Due to this, many Latin American countries have been investing heavily in IT, especially in tech workers’ education and training.

To end this article, we want to desire you good luck in your future projects. Now you know the cost-savings benefits when offshoring software development and that a nearshore partner from LATAM can be the best option for your software development business.

About ZirconTech: A trusted partner that helps organizations thrive in their digital transformations. Mobility, Internet of things, artificial intelligence, big data, cloud computing and blockchain technologies.

Smart contract; digital contract

SUSCRIBO-Contratos Digitales and ZirconTech announce a strategic alliance to work on developing smart contract solutions in Latin America.

SUSCRIBO-Contratos Digitales is a company formed in 2019 by investors from different Latin American countries to provide contract digitization, electronic signature, and business flow automation services using blockchain-based smart contract technology.

In March 2020, SUSCRIBO undertook to search for a technology provider and partner focused on specializing in smart contracts to act as a representative and distributor of services in the Latin American region (LATAM). During this search process, SUSCRIBO chose ZirconTech as a partner to identify, evaluate, select and implement a Software as a Service (SaaS) service for smart contracts for legal and natural persons, both public and private.

ZirconTech is a company that offers information technology services, conformed mostly by a team of Latin American professionals with more than two decades of experience in systems development, support, and technology implementation; ZirconTech is a specialist in blockchain, internet of things, cloud computing, web and mobile applications, big data, and artificial intelligence.

Toño Rumbea and Martin Machin, representatives of SUSCRIBO and ZirconTech, agreed in expressing that “After the COVID-19 pandemic, it is likely that will survive only those institutions that manage to digitize and automate their processes and paper contract files as soon as possible, incorporating the management of contractual obligations with other business systems for digital signature, management, billing, collections, and analytics”.

From this strategic alliance, SUSCRIBO and ZirconTech carry out research, testing, and development actions. Currently, the specialists have successfully linked intelligent contractual flows with CRMs and customer ERPs while executing integration projects with transactional banking APIS, with credit bureau and price index databases, and finally activities with electronic signature and certificate systems according to jurisdictions. Both companies are also working on structuring a back-office technical support component for clients in Latin America.

More information about us at www.zircon.tech

More information about SUSCRIBO-Digital Contracts at www.suscribo.com

About ZirconTech: A trusted partner that helps organizations thrive in their digital transformations. Mobility, Internet of things, artificial intelligence, big data, cloud computing and blockchain technologies.

nearshore, software development software development south america, software development latin america

Offshore software development services emerged for businesses looking to reduce operational costs while having access to a global talent pool. Recently, the US tech job market has been saturated, which resulted in companies looking for more options.

If you want to get ahead of the crowded offshoring market, check out this in-depth guide on offshore software development. Learn why it has been considered reliable and profitable among CEOs and stakeholders.

What is Offshore Software Development?

Offshore software development refers to the digital product development process’s delegation to the developers or a company that offers that service outside the country. Developers from outside the US usually offer relatively cheaper services compared with hiring locals. Companies in the US find it more affordable as they don’t need to cover financial incentives and tax holidays.

Apart from the low operating costs, they get to take advantage of a diverse talent pool. It offers a less taxing way to scale up quickly and improve their technical expertise.

Simply put, businesses get to expand their operations with a diverse team of skilled developers who are geographically distant from the existing employees.

Benefits of Offshore Software Development

There are many benefits to offshoring your software development team. Here are some of them:

Lower Operating Cost

Positions in tech around the world are one of the most in-demand and highly paid workforces today. However, there has been a significant disparity in the rates between US developers and abroad. The average hourly rate of an entry-level developer in the US ranges from $75 to $125. In contrast, skilled developers from Latin America, for example, charge an hourly rate worth $30 to $50. Their wages are significantly higher, not to mention the financial incentives and tax holidays in payroll. When the required wages for US developers account for a considerable portion of your company’s operational costs, it is only practical to opt for offshore services.

Hiring offshore developers let businesses increase their margins without compromising operational costs and the operation itself.

Access to Diverse Talent Pool

Working with offshore development vendors streamlines the recruitment process while giving you access to a global talent pool. As it’s the core of their business, offshore vendors have more experience with hiring seasoned talents. They usually utilize well-established processes to help you fulfill your vacancies within your preferred time frame. With their connections to a network of software developers worldwide, there is less competition for acquiring skilled professionals.

Although their skills are in-demand in the global job market, there is an influx of talent everywhere. For instance, Uruguay contains over 700 tech companies in the IT sector. Uruguay’s massive growth in tech companies stems from their exemption from income tax for any earnings for exporting or outsourced IT services and development. This also keeps costs low without sacrificing the quality of work when outsourcing to Uruguay. On top of their low costs, Uruguay ranks third in English speaking skills throughout all of Latin America. Ultimately, hiring offshore developers eliminates the issue of delay in onboarding your offshore team.

Focus on Core Business Goals

Forming an offshore software development team lets businesses focus on their primary business goals. Companies can concentrate on their critical operations and let the in-house developers concentrate on other significant tasks.

Perhaps it is the perfect opportunity to expand your product and make improvements without overworking your internal team. A team of seasoned offshore developers can manage the work’s development process or configure its add-on services. For instance, they can help you craft a version of your product that addresses a new market at a low cost. Having them perform the advancements for existing products is generally more accessible as it only requires the existing product documentation. This way, there are lesser risks involved, and you can always halt the project when it fails. Otherwise, you can entrust them with larger projects and more complicated tasks.

Timezone and distance will never be an issue if you provide constant communication. Consistently communicate to stay updated about the processes. It is also vital that you articulate the project in detail to prevent misunderstandings and conflict.

Augmenting Offshore Developers with Your In-House Software Development Team

Offshore software development services are especially helpful for businesses that don’t specialize in tech and small to medium-sized tech companies who need on-demand talent based on their project needs. Most tech-focused companies like Google augment offshore developers with their existing team to strengthen their workforce. Whether they have plans for new software or improve versions of their current products, hiring offshore expands technical expertise. It helps them broaden their horizons with specific practices that their internal team might lack.

Communication-barriers might be one of the reasons why many companies are hesitant in hiring offshore developers. It is since collaboration across teams is integral throughout the product definition and development phases. With proper management, offshore developers can contribute to either coding or quality assurance to improve its pace. Given that QA engineers are understaffed in many software development organizations, you can use the extra hand. Offshore QA team doesn’t need to divulge the source code, eliminating the security and risks of compromising your intellectual property. Additionally, outsourcing to countries like Uruguay and Argentina minimize communication barriers since their time-zones align with the United States’ time zones.

Moreover, augmenting offshore developers allows you to streamline significant developments. You can take advantage of a team that is multiple time zones ahead to accomplish round-the-clock software updates.

Finding the Best Offshore Development Company Partners

Before you hire a team of offshore software developers, here are some factors you need to consider:

Prioritize Quality Over Quantity/Costs

Most businesses opt for offshore developers to acquire cheaper services. Given that most of these developers charge less, it is imperative to look for those offering great value.

When the prices are too low, it might be too good to be true. There is always a catch for these circumstances, so it’s vital to screen your hires efficiently. Ask for their credentials, portfolio, and experiences. No one would want to waste your time and money on an underqualified software development team, so choose them wisely.

Are They Reliable?

As mentioned, they should be able to provide a verifiable track record of their previous projects. You have to ensure that the team you are hiring is worth it.

Is Their Time Zone Going to be an Issue?

Most offshore developers adjust their time zone according to the preferences of their clients. It is vital to discuss office hours with your offshore development team before the project.

This communication ensures that their office hours can overlap with your head office.

English Proficiency

To prevent further communication-barriers, it makes more sense to hire a team that speaks your language. It promotes productivity and facilitates cooperation across your internal team at your head office.

Where Can You Find Offshore Software Developers?

Eastern Europe

Eastern European countries are rich with almost 1 million professional software developers. Countries such as Ukraine, Belarus, and Poland are leading resource hubs for skilled developers. A majority of offshore developers in Eastern Europe are well-versed in numerous programming languages.

Ukrainian software engineers are proficient at Java, JavaScript, and Python. A majority of Polish developers utilize PHP as their primary programming language, along with Java and .NET.

Depending on the required skills, experiences, and project complexity, European offshore developers’ average hourly rate goes around $25 to $40. These rates are consistent, compared with the average rates of professional engineers in North America and Europe. However, you would probably find developers with the same competencies in other regions like Asia that charge cheaper.

Asia

Throughout the Asian region, India produces the most number of professional software engineers. This influx of talent is the primary reason many tech giants like Oracle, IBM, and Amazon expanded their business in Bangalore, India. There have been millions of software engineers who graduate in the country annually. With this influx of talent pool, businesses also benefit from lower service costs. The average hourly rate for an entry-level software developer ranges between $18 and $25.

The low prices can come with a significant disadvantage. More often than not, project quality tends to be lower. Businesses must screen their hire carefully to weed out the underqualified applicants. India is followed by China, although their average hourly rates are generally higher. You can acquire an offshore developer by spending around $30 to $40 per hour.

Latin America

Latin American countries have also emerged within the offshore software development industry. Many businesses began taking notice of offshore developers in Argentina, Uruguay, Mexico, and Brazil. Minimal time zone differences and cultural proximity are making it easier to partner with these offshoring destinations. An entry-level offshore developer’s average hourly rate in Latin America reaches around $30 to $50 because the quality is higher.

How CEOs Manage an Offshore Software Development Team

Once you have formed an offshore software development team, it is essential to know the role they play in your business. Depending on whether the team will handle software upgrades, an extension of your products, or help you launch a new product, you must manage them accordingly. As a stakeholder of the company, you must take action to manage your offshore software development team. Here are a few things you need to consider to lead a distant group successfully.

Impart Your Vision

Before anything else, the key to a successful partnership involves a shared vision. You must take time to impart to the team your business goals and mission. Sharing your vision helps them understand your perspective, needs, and plans as a business. It is also an ideal opportunity to get to know them and explore what they can contribute to your business’s future.

More often than not, companies only view offshore teams as an extension of the business rather than a dedicated member of the team. However, this is discouraging and disrespectful due to the significant contribution to your product’s development. Simply put, they play an essential role in its success and progress. Thus, the key is to establish a connection with your team, regardless if they are geographically distant from you. The more they know about your brand, the more they can determine ways to improve their work process.

Right from the moment you start building your offshore team, communicate your vision to let them your brand’s purpose.

Managing Cultural Differences

There are many cultural differences, especially if you are working with offshore developers located in farther regions. They might have different beliefs and aspirations, but you must overcome these differences. Instead of seeing it as a hindrance, make an effort to foster a unified culture of belonging through recognition and appreciation.

Be open with these differences and remind your teams to work towards a common goal. The primary focus should be on the success of the project. It should not matter where they are from nor what they believe.

As the head of the business, it is your responsibility to keep your offshore developers recognized. Ensure polite communication across teams and no one in the group feels excluded. You can break the ice by facilitating welcome conferences. It is an opportunity for teams to get to know and learn more about each other. When teams communicate well, collaboration would not be a hassle.

Communicate Effectively

The key to a successful collaboration with software development teams located offshore is through consistent communication. You must prioritize effective communication across teams above anything else. When teams can reach out to one another without a fuss, they can be more productive. There is nothing that can derail your software development project.

Here are the most common communication channels that you can use between your in-house and virtual teams:

  • E-mails

Email serves as the primary channel of communication for most businesses. It is more formal, typically for tailoring schedules, project details, and project meeting notes.

  • Instant messaging

Instant messaging facilitates consistent communication across the team regardless of their location. For quick clarifications and immediate concerns, you can use Slack, Skype, GoToMeeting, Zoom, Google Drive, Slack, Gmail Suite, and Jira.

  • Productivity tools

Project management is crucial when working with offshore teams to monitor their workflow and processes. Tools like JIRA, Asana, and Basecamp allow you to track their progress easily.

About ZirconTech: A trusted partner that helps organizations thrive in their digital transformations. Mobility, Internet of things, artificial intelligence, big data, cloud computing and blockchain technologies.

OLAP tools, Online Analytical Processing tools

The Online Analytical Data Processing: a Review

Are you using all the data you have? Do you have that data integrated and ready for integrated analysis? Are you using analytics tools on your data?

We have more than two decades of availability of technology for data analysis. We went to the business intelligence space from reporting, where it was not a good idea to run all large data queries in the operational systems. By that time, it was started to talk about online analytical processing tools (OLAP tools), when hardware and software were not as powerful as of today. And during this period, the amount of data generation has not stopped increasing, and it will continue.

Many companies had a journey using these technologies and migrating to the latest ones. However, today, when we are talking about data as the new source of energy, the new oil or the new gold, are all companies harnessing the power of data? 

Even if you are a medium or small business, you cannot wait to unlock the power of the data that you have in your company and the possibilities future and aggregated data will have. If you don’t do it right now, your competitors will be taking advantage.

Let’s review from where we are coming to position yourself in that journey and take action on the data you are not harnessing yet. OLAP or Online Analytical Processing is a concept where you can produce a multidimensional analysis of your business data. It also can provide you the capability for complex calculations, data modeling, and trend analysis.

Online Analytical Processing tools give the insight and understanding that end-users need for better decision-making by performing specific analyses of multidimensional data interactively from multiple perspectives. 

OLAP tools involve relational databases, report writing, data mining. Online Analytical Processing tools performed on a Cube consist of five basic analytical operations:

  1. Drill down
  2. Roll up
  3. Dice
  4. Slice
  5. Pivot

Online Analytical Processing tools are the basis for many business applications for Business Performance Management, Planning, Analysis, Budgeting, Simulation Models, and Data Warehouse Reporting. 

OLAP databases allow for complex analytical and specific queries with a fast execution time using a multidimensional data model. An OLAP system consists of an OLAP cube, which is also known as a multidimensional cube or a hypercube.

Main Online Analytical Processing tools are classified as: 

  • MOLAP: Multidimensional Online Analytical Processing tools
  • ROLAP: Relational Online Analytical Processing tools
  • HOLAP: Hybrid Online Analytical Processing tools

Why OLAP Tools?

As knowledge is the foundation of all successful decisions, businesses need to continuously plan, analyze, and report sales and operational activities to maximize efficiency and become successful businesses. 

An important thing to do to improve your business activity is to collect as much data as possible. As businesses collect data using many different systems, you have the challenge to get all the data together to create reliable and accurate information about your business. 

Your business will be better positioned to make better decisions and win the competition if you turn data into shared knowledge quickly and accurately.

OLAP tools technology can be defined as the capacity to deliver “fast access to shared multidimensional information.” Thereby, OLAP tools technology can help you make better and quicker decisions based on reliable and accurate information.

Benefits of OLAP Multidimensional Databases

The main difference between Relational Databases and Online Analytical Processing tools is that OLAP tools do not store individual transaction records in a row-by-column format like a worksheet.

Online Analytical Processing tools use some multidimensional database structures called Cubes to store arrays of consolidated information. The data is stored in an optimized multidimensional database.

Your business is a multidimensional activity that needs to track its actions by considering many variables. If you follow these variables on a spreadsheet, you will use X and Y axes where each axis represents a group of logical variables or categories.

You can track your sales in units in time using these types of schemes—for example, sealed units in rows and months in columns. Sometimes, a business needs to track many variable groups or parameters, which may be beyond the scope of any number of linked spreadsheets.

In an Online Analytical Processing (OLAP) environment, these variable groups or parameters are called Dimensions. Instead of storing individual transaction records in a two-dimensional format  (row-by-column) like a worksheet, OLAP tools use Cubes that are multidimensional database structures.

Users can view a Cube on demand and produce a worksheet-like view of the data stored in the optimized multidimensional database.

Companies have many dimensions to track. A business that distributes goods from several facilities will have many Dimensions to consider as Products, Accounts, Locations, periods, Salespeople, among others. 

These Dimensions represent the “whole” business knowledge, providing the basis for all business activities (planning, analysis, and reporting).

Companies need OLAP technology to own the capability to perform multidimensional analysis so that users can view and manipulate data along the multiple dimensions required.

How do OLAP Tools work?

Online Analytical Processing tools are used to extract or retrieve data to be analyzed from different viewpoints. These tools work by extracting data from multiple sources and various formats and storing them in Data warehouses. After that, the extracted data is cleaned and transformed. 

Data is stored in OLAP Cubes, where information is pre-calculated in advance for further analysis.

Then users can get the information they need by running queries. 

The OLAP Cube consists of numerical facts called measures which are categorized by dimensions. The Cube can store and analyze multidimensional data in a logical and orderly manner.

Classification of OLAP Tools

There are mainly two types of Online Analytical Processing tools: Multidimensional OLAP (MOLAP) and Relational OLAP (ROLAP). Hybrid OLAP (HOLAP) refers to technologies that combine MOLAP and ROLAP.

MOLAP

MOLAP or Multidimensional Online Analytical Processing uses a multidimensional cube that accesses stored data through various combinations. 

MOLAP products use a “Multi-cube” approach where a series of pre-calculated cubes make up a hypercube. Data is first summarized and then stored in contrast to ROLAP, where queries are served on-demand. 

It is easy to use even for inexperienced users thanks to its simple interface. It turns out to be the best tool for “slicing and dicing” operations due to its speedy data retrieval.

MOLAP is the more traditional way of OLAP analysis. It has excellent performance and can perform complex calculations. The downside is that MOLAP can only handle a limited amount of data and is less scalable than ROLAP.

Among the most known products that emerged running off MOLAP:

  • Oracle Essbase
  • IBM Cognos
  • Apache Kylin

ROLAP

ROLAP or Relational Online Analytical Processing stores data in relational tables using columns and rows. It retrieves the information on demand through user queries. 

A ROLAP database can be accessed to calculate information by complex SQL queries. Besides, it can handle large data volumes, but the more data it processes, the slower the processing time. 

It does not require the storage and pre-computation of information because queries are made on-demand. 

ROLAP relies on manipulating the relational database’s data to give the appearance of traditional OLAP’s slicing and dicing functionality. Each action of slicing and dicing is like adding a “WHERE” clause in the SQL statement.

ROLAP can handle large amounts of data, and it doesn’t impose limitations on data amounts.

Besides, it can leverage functionalities inherent in the relational database. The downside with ROLAP is that it has potential performance constraints and scalability limitations.

Examples of popular ROLAP products included Metacube by Stanford Technology Group, Red Brick Warehouse by Red Brick Systems, AXSYS Suite by Information Advantage, several of them acquired by IBM and incorporated into the business intelligence data suites.

HOLAP

HOLAP or Hybrid Online Analytical Processing connects attributes of both MOLAP and ROLAP. 

These technologies try to combine the advantages of MOLAP and ROLAP. 

Users get the benefits of both since HOLAP involves storing part of data in a ROLAP store and another part in a MOLAP store. With this use of the two OLAP tools, the data is stored in relational databases and multidimensional databases.

The choice to access one of the databases depends on which is most appropriate for the requested processing application. This hybrid approach provides much more flexibility for handling data. 

The data is stored in a relational database for heavy processing and in a multidimensional database for theoretical processing. 

Some products emerged running HOLAP with Microsoft Analysis Services and SAP BI Accelerator. The Analysis Services technology is now available in Azure, Power BI, and on-premises with SQL Server. 

The SAP BI Accelerator product went out to the free market, and all functionalities have been incorporated and very much improved into the new SAP HANA InMemory Database technology. 

What Are OLAP Cubes?

An OLAP Cube is a data structure that enables fast data analysis according to the multiple Dimensions that define a business problem.  

The multidimensional cube for reporting services sales of an IT Business might be composed of many Dimensions like Salesperson, Amount, Region, Services, Month, Year, among others.

Cube is a shorthand for a “multidimensional dataset” where data can have an uncertain number of dimensions. A cube is not a “cube” in the strict mathematical sense. But this term is used widely, although all the sides are not necessarily equal.

The term cube here refers to a multi-dimensional dataset, which is sometimes called a hypercube if the number of dimensions is higher than three.

A determined number of cells forms a cube. Every cell of the cube holds a number representing some measure of the business, such as profits, expenses, budget, or sales.

Another essential term when we talk about Online Analytical Processing tools and Cubes is a “Slice.” It is a term for a subset of the data generated by picking a value for one dimension and only showing the data for that value. 

OLAP Cube Advantages

The organization of data into Cubes appears due to the limitations of relational databases that were not considered for the analysis and display large amounts of data. 

OLAP Cubes are better suited than relational databases when a whole database must be summarized. They are the best option when users wish to re-orient reports or analyses according to different, multidimensional perspectives called Slices. 

The use of OLAP Cubes facilitates a fast end-user interaction with data. It can be thought of as an extension of a spreadsheet’s modeling structure (that only accommodates data in rows and columns).

OLAP Cubes’ designers can build models that balance user needs and logical model limitations due to Cubes’ capacity to include many arrays or Dimensions.

OLAP Tools Analytical Operations

(Images: https://www.geeksforgeeks.org/olap-operations-in-dbms)

OLAP is a business intelligence unit (BI) that answers multi-dimensional analytical queries more smoothly and faster. 

Online Analytical Processing tools hold the relational database and encompass RDBMS and data mining & reporting. OLAP tools give users the capacity to analyze multidimensional data from multiple perspectives.

Five basic analytical operations can be performed on an OLAP cube:

  1. Drill down
  2. Roll up
  3. Dice
  4. Slice
  5. Pivot

#1. Drill down

The less detailed data is converted into highly detailed data in drill-down operations. Two different kinds of functions can do it:

  • Moving down in the concept hierarchy
  • Adding a new dimension

The example below shows the drill-down operation by moving down in the Time dimension concept hierarchy (Quarter -> Month).

Images: https://www.geeksforgeeks.org/olap-operations-in-dbms/

#2. Roll up

A Roll up operation is the opposite of the drill-down operation. It performs aggregation on the OLAP cube. 

It can be done by:

  • Climbing up in the concept hierarchy
  • Reducing the dimensions

The cube below shows the roll-up operation performed by climbing up in the Location dimension concept hierarchy (City -> Country).

#3. Dice

The Dice operation selects a sub-cube from the OLAP cube by selecting two or more dimensions. 

The cube below shows a sub-cube selection following dimensions with this criteria:

  • Location = “Delhi” or “Kolkata”
  • Time = “Q1” or “Q2”
  • Item = “Car” or “Bus”

#4. Slice

The Slice operation selects a single dimension from the OLAP cube, which results in a new sub-cube creation. 

The cube below shows how a Slice operation is done on the dimension Time = “Q1”.

#5. Pivot

Pivot, also called rotation operation, rotates the current view to get a new representation view. 

In the sub-cube obtained after the slice operation, performing pivot operation gives a new view of it.

Some OLAP Tools from where we are coming

SAP NetWeaver Business Warehouse

The SAP NetWeaver Business Warehouse (SAP NetWeaver BW) is one of the most known and used OLAP tools. It has the purpose of reporting, analysis, and interpretation of business data. 

These actions are essential to enhance companies’ competitiveness by optimizing processes and enabling them to react instantly and in line with market needs. 

SAP NetWeaver BW provides tools and functions that facilitate companies to achieve these goals. If you get SAP NetWeaver BW, you can integrate and consolidate appropriate business information from productive SAP applications and external data sources. 

This group of tools also gives you a high-performance infrastructure that helps you evaluate and interpret data. Due to this, you can make well-founded decisions and identify target-orientated activities based on the analyzed data.

Integration with In-Memory Technologies

One key point of this group of SOAP tools is that you can enhance SAP NetWeaver BW’s performance using in-memory technologies.

This feature allowed you to efficiently process demanding scenarios with high data volumes, unpredictable query types, high query frequency, and complicated calculations.

You can use a database to access the data from a BW object faster by storing it as an index in SAP NetWeaver Business Warehouse Accelerator. 

SAP HANA database for data persistence offers further benefits when executing analysis and planning scenarios besides the performance benefits. 

IBM Cognos

IBM Cognos is an integrated and analytical web-based processing system from IBM. It contains numerous inbuilt components to meet various information requirements in an organization. Due to its toolkit, it can also perform analysis for reporting and score carding and the provision to monitor metrics.

IBM Cognos id formed by several windows based components named as IBM Cognos Framework Manager; cube designer; IBM Cognos Transformer; map manager; IBM Cognos Connection; and IBM Cognos Report Studio.

For instance, IBM Cognos Report Studio is used to create reports that are shared with knowledge processing departments. This element allows creating any type of report, including charts, lists, maps, and repeat function.

Analysis Studio is also used to search for background information about an action/ event and prepare the analysis of large data sources. It includes some essential OLAP tools like roll up and drills down. Those are used to get a better understanding of information.

Cognos Analytics Features

Cognos allows you to perform automated data preparation, data discovery, and visualizations to make more confident decisions. To achieve it, you need to complete the following steps:

  • Get connected: You need to connect your data effortlessly from your CSV files and spreadsheets, from the cloud or on-premises data sources, including SQL databases, Google BigQuery, Amazon, or Redshift.
  • ‎‏‏‎Prepare your data: Then, you can prepare and connect your data automatically with AI-assisted data preparation. Clean and prep data from multiple sources, add calculated fields, join data, and create new tables.
  • Build visualizations: Cognos allows you to create dynamic dashboards easily. Drag and drop data to create auto-generated visualizations, drill down for more detail, and share using email or Slack.
  • Identify patterns: You can ask the AI assistant a question in plain language and see the answer in a visualization. Use time-series modeling to predict seasonal trends.
  • Generate personalized reports: You can also keep your stakeholders up-to-date, automatically. Create and share dynamic, personalized, multi-page reports in the formats your stakeholders want.
  • Gain insights: Cognos lets you make confident data decisions. Validate what you know, identify what you don’t with statistically accurate time-series forecasting, and pinpoint patterns to consider. 
  • Stay connected: You can stay connected 24/7 on the go with the new mobile app. Access data and get alerts will always be right from your phone.

Micro Strategy

MicroStrategy is a Washington-based enterprise business intelligence (BI) application software vendor that provides services on BI and mobile software worldwide. 

The MicroStrategy platform supports interactive dashboards, scorecards, highly formatted reports, ad hoc queries, thresholds and alerts, and automated report distribution. 

MicroStrategy Analytics allows companies/organizations to analyze large volumes of data and distribute business-specific insight.

It delivers reports and dashboards to the users and allows them to conduct and share analysis via mobile devices. It is a secure and scalable software with excellent governance features of enterprise-level BI.

MicroStrategy’s platform uses single standard metadata for consistency and streamlined maintenance. MicroStrategy’s 64-bit architecture supports in-memory analytics with “Intelligent Cubes” that are OLAP reports cached in memory as data sets. 

Metrics and attributes are created once and used across different types of reports. When a change is made in one place, all related reports are automatically updated. In the same way, security permissions are given in only one place to reduce administration costs.

MicroStrategy helps make more reliable decisions and build a more innovative enterprise. It is available on-premises software and host-based service in MicroStrategy Cloud. 

PowerBI

Power BI is a Microsoft business analytics service that provides interactive visualizations and business intelligence capabilities. It features an interface simple enough for end-users to create their dashboards and reports. 

Power BI is formed by a collection of apps, software services, and connectors that work together to turn your business’ unrelated sources of data into logical, visually immersive, and interactive insights. 

Power BI can get data from a single Excel spreadsheet or collect cloud-based and on-premises hybrid data warehouses. It allows you to easily connect to your data sources, visualize and discover what’s important.

This application was conceived originally by Thierry D’Hers and Amir Netz of the SQL Server Reporting Services Team at Microsoft. After several evolutions, it was renamed as “Power BI,” and Microsoft then revealed it in September 2013 as Power BI for Office 365.

With PowerBI, you can visualize and connect to any data using the unified, scalable platform for enterprise business intelligence that’s easy to use and helps you gain deeper data insight.

About ZirconTech:
A trusted partner that helps organizations thrive in their digital transformations. Mobility, Internet of things, artificial intelligence, big data, cloud computing and blockchain technologies.

nearshore software development South America

IT sector is spreading its root at a rapid pace, and it has brought a lot of innovation in the world and become far more than a platform for the business to run on. IT has now become an essential driver for business growth anywhere in the world.io funcione. La TI se ha convertido ahora en un motor esencial para el crecimiento empresarial en cualquier parte del mundo.

IT software development and outsourcing market are also growing at an extensive rate as an increasing number of companies and industries are turning towards software development to reach or access the market quickly and efficiently and create advanced solutions for the problems and provide customer services to the world full of innovation.

Why Nearshore Software Development In South America?

South America region has grown so much and so fast in the IT sector. Uruguay is one of the Top leading nearshore software developer in South America and according to Ministry of Education and Culture 2012 UDELAR census, it was mentioned that 75% of its university students are able to read English language whereas about 55% of the students can speak it.

The people from Uruguay, Argentina and other others from South America are more aware and socialized with the world. They know about facts and figures and proper use of online services and facilities. This is because the literacy rate is high because of universal public degree courses that are offered to the citizens. Uruguay also became the first country in the world to provide a free laptop to all public school students and teachers. This means the youngest generation is the most tech-savvy that South America has ever seen.

The top countries to hire a software developer in South America are:

·     Uruguay

·       Argentina

·       Puerto Rico

·       Colombia

·       Brazil

·       Peru

These nations have shown the steadiest development and the most alluring financial environment to stand out enough to be noticed of worldwide organizations from everywhere the world. This makes Nearshore Software Development in South America very important. 

If you want to to learn more about the benefits of offshoring don’t miss our last guide made for CEOs: The Ultimate Offshore Software Development Guide 

Why Nearshore Outsourcing Became Popular in the Last Decade

Nearshore Outsourcing implies that you give programming and software development or certain errands to organizations situated in the geological vicinity of your country. At the point when you employ a nearshore organization, the distinction among you and the project worker ought to be from 1 to 3 hours. This reduces time and communication barriers.

Outsourcing turned into a necessary chore by furnishing organizations with adaptable alternatives. Explicit assignments could be moved to IT teams without the overhead expenses related with recently added team members.

To keep a competitive edge, organizations need the information that lone ability with a significant degree of expertise can give. Outsourcing helps these particular specialists to be contracted at lower costs for software development work.

Nearshore Software Development in South America and Outsourcing

South America has its roots deep wide in the business and IT sectors, due to which nearshore software development in South America is a major hit for this country. IT outsourcing in this country became more prominent over the past few years. Outsourcing is helping in growing software development more with cost reduction resulting in giving major benefits to the nearshore businesses.

In the current era of innovation and trade, a lot of US-based organizations and businesses are turning to South America for outsourcing as it has good nearshore software for higher quality and good time zone.

Advantages of Outsourcing to South America

As should be clear, there is a great potential for nearshore software development in South America and outsourcing, and it can be an exit plan for various organizations. Here are a few benefits and advantages that companies have when they outsource in a continent like South America.

·   Cost-effectiveness

·   Talented and dedicated workers

·   A productive environment for Business

·   Cultural similarities

Nearshore vs. Offshore outsourcing

Nearshore outsourcing involves the geographical proximity along with the similarity of time zones for the countries. Considering the example of South America, it can work as nearshore to grow business at a rapid pace with more cost reduction benefits. But if we consider the example of Asia, then it becomes offshore outsourcing due to differences of distance and time zone.

Price is the main thing to consider when you are selecting between nearshore or offshore concept. There is a high price for the nearshore services as compared to offshore services, but the advantage is that you can expect these nearshore software development in South America prices to be much lower, about 2 to 3 times less than in the US.

We have made a list of the following points that will help you to consider a lot of things while choosing to go for offshore or nearshore outsourcing.

Location

The nearshore software development approach basically relies upon the location for outsourcing. While choosing any organization that is outsourcing, you should be aware about all the number of specialists which are qualified in the country.

When you are deciding to choose between offshore or nearshore, then you must know that the location is a very important factor for your outsourcing company to perform well for benefit.

Cost-Effectiveness

Organizations are using outsourcing strategies to cut costs. What’s more, you don’t need to enlist designers, pay rents or wages, or provide facilities to the members or workers. Because of the way that normal outsourcings nations are progressing well, the valuing can be fundamentally lower than in developed nations.

Closer Collaboration

Another benefit of participation with a nearshore software development in a South American organization is a brief distance between both the developer and the organization. With the improvement of innovations, the world’s decreasing and you can take care of the vast majority of the issues by means of telephone.

However, once in a while, your actual presence might be required, so there could be no other choice except for going to your partner to have a meeting.

Less Demands on the In-House Team

Organizations chose to move to South America in light of the fact that the locale offered a significant number of the components organizations were searching for while outsourcing, like exceptionally skilled developers and more imaginative development strategies.

The political, social, and monetary advancement in countries like Uruguay isn’t simply helpful to the locale; however, it is additionally valuable to the unfamiliar organizations that are outsourcing to address the IT requirements.

Benefits of Working with Nearshore South American Developers

South America is a good record of developers that can perform well to outsource and are still eager to do better work for nearshore businesses. There are several benefits that organizations get.

Experienced Talents in No Time

This benefit can be applied to any outsourcing type, but the fact of the matter is you don’t need to go through weeks searching for qualified and skilled talents among the entirety of their CVs. These activities expect you to have an HR division.

The nearshore software development in South America team has developers who have been working on many projects recently, which makes it easier and more effective as the team members don’t have any communication gap after this, and they also have some experience gained in this regard.

In case that you need more developers for the improvement of extra highlights, nearshore software development in South America gives out more talented experience as you scale.

Price and Quality

When working with nearshore software development in South America, you don’t need to stress over reducing the quality and nature of work at lower costs. South American governments put resources into specialized instruction, which considered the foundation for abilities and talents to thrive.

While transformation rates from the U.S Dollar to any South American cash are good, the genuine advantage comes from the enthusiasm that South American engineers have for their work and their energy to take an interest in the U.S tech market.

International Experience

South America is open for international business, and it draws in numerous worldwide organizations that need to exploit the advantages that remote engineers have to bring to the table. Numerous capable designers have worked with worldwide associations on projects, acquiring novel thoughts and abilities simultaneously.

South America’s cost-effective ways, joined with the business environment and skilled developers, is the reason that nearshore software development in South America is progressing at a rapid pace. The companies are starting to search for outsourcing firms that can help in both offshore and nearshore Software development in South America.

Scaling Flexibility

Having the option to extend and cut back rapidly is an extraordinary upper hand for organizations that are delicate to the change. Employment laws and guidelines may convolute the interaction and put an additional expense to it; outsourcing gives organizations greater adaptability here and an opportunity to work quicker in this sense.

Impact of Time Zones on Cost

Time zones can have great impact on nearshore software development. If you are working for agile software development, then this significantly leaves a greater impact as reduced time difference allows less response time in the work.

This also helps synchronous communication, which makes it easier resolve issues if there are any. This is the reason why South America time zone has a great advantage on nearshore software development by focusing on Agile driven models.  

Distance and Cost

Taking into account that everything happens online these days, you may believe that distance shouldn’t be an issue past the time difference problem. South America emphatically advocates assembling an incredible relationship with the offshore software development team because it is more effective when nearshore software development in South America isn’t growing much.

The nearshore software development in South America is best as you can meet the partner or the person within no time if you need to discuss some matters in real-time. The face-to-face deal is more ideal, and it makes IT outsourcing more secure and easier for the teams that are working on the software development.

High Internet Connectivity

South America has high-speed internet connectivity, and Uruguay is one of the most progressing parts of it. Uruguay residents are now more connected than ever. The high-end internet connectivity is making it easier for organizations to connect and communicate via Google chat or Skype. Uruguay gets benefitted from nearshore software development in South America, and here are some quick facts about it:

·   Uruguay is the #1 for having nearshore software development in South America with fixed broadband internet connectivity. It has the fastest internet download speed.70% of the population of Uruguay owns a computer system.

·   All of the schools and educational institutions within the country have an optical fiber connection.

In case that your research cost only reliant on incomparable figures, your most ideal choice will undoubtedly be Asia as you will consistently get statements only. Taking everything into account, any specialist from another piece of the world will charge you less for the administrations while you will get higher rates inside South America.

In any case, when choosing cost capability, you need to investigate a lot of elements other than the quick expense cost of that project.

Better Intercultural Communication

We know that social and cultural differences can become a huge test to cost and productivity. The proximity and a long history of exchange and collaboration imply that individuals in South American nations comprehend U.S. culture far superior than those from Asia.

This removes the communication barriers, and it is less likely to cause any mistakes or misunderstandings. A group from any country will realize that you anticipate that they should be proactive, though an improvement group or the development group from any other country will anticipate that you should give exact guidelines for each step. If you don’t, then due to a communication gap, they will not go according to your guidelines since they’ll believe that it’s not what you need.

Cultural and Social issues may appear to be little and insignificant from the start. Notwithstanding, when you begin working with a group whose culture is immeasurably not quite the same as your own, and you’re not aware of that distinction, your project can go into a loss.

Language

When you connect the in-house staff with the outsourced teams in South America, this will create a sense of brotherhood and comfort zone, and it leaves an open communication too when they talk on the phone or through messages. The high-level outsourcing companies choose your preferred language to work with and take care of your necessities.

Cost-Reduction

Cost-Reduction is without a doubt an essential role for outsourcing as employing capable specialists in the US, particularly those in fields of software development, is probably going to cost a lot more than the amount in contrast with somebody with a similar range of abilities in South America.

You can take the example of a developer from the US who may work at an hourly pace of USD $100 while a similarly qualified nearshore software developer in South America might be accessible for work and will play out a similar task at a lower price of USD $60 hourly.

Proficient Focus

Not all organizations have the data transfer capacity or experience to deal with a designing group in-house. Outsourcing advancement can give a layer of solace, realizing that their application is being created, permitting supervisors to focus in on things that matter.

Admittance to Assets or Resources

Only one out of every odd organization can afford to include all the essential assets inside the association. Outsourcing assists new organizations with welling set up ones to get to these assets and innovations through mediators and utilize it however long they need it.

Conclusion

This was a detailed discussion on Nearshore software development in South America and all of the advantages and disadvantages. Outsourcing is explained in-depth with its benefits and social effects on the business of different organizations. This was complete detail, and if you have more questions, you can comment in the box given below.

If you want to to learn more about the benefits of offshoring don’t miss our last guide made for CEOs: The Ultimate Offshore Software Development Guide were you will understand the Benefits of Offshore Software Development, it will help you to find the best offshore development company partners and how to manage an offshore software development team 

FAQ’s

What is nearshore outsourcing?

A nearshore is an outsourcing form that refers to the services which are delivered from a nearby location. This concept first arose in 1997 by Softtek. Nearshore software development services emerged for businesses looking to reduce operational costs while having access to a global talent pool. 

What is nearshore software development?

Nearshore software development in South America or outsourcing means that you provide your services of software development or certain tasks to organizations that are located in geographical proximity to your country. The maximum difference of time between you and the hired nearshore company should be between 1 to 3 hours.

What are outsourcing services?

Outsourcing services means the actual practice of passing tasks or business processes for an organization or a third-party and receiving profit from them in return.

Smart contract; digital contract

SUSCRIBO-Contratos Digitales y ZirconTech anuncian alianza estratégica para trabajar en el desarrollo de soluciones de contratos inteligentes en Latinoamérica.

SUSCRIBO-Contratos Digitales es una compañía formada en el año 2019 por inversores de diferentes países de Latinoamérica con el objetivo de prestar servicios de digitalización de contratos, firma electrónica y automatización de flujos de negocio utilizando tecnología de smart contracts basados en blockchain.

En marzo de 2020 SUSCRIBO emprendió la búsqueda de un proveedor y socio de tecnología orientado a la especialización en contratos inteligentes para actuar como representante y distribuidor de servicios en la región latinoamericana (LATAM). Durante este proceso de búsqueda, SUSCRIBO optó por ZirconTech como aliado de trabajo en todo lo referente a identificar, evaluar, seleccionar y poner en marcha un servicio de Software as a Service (SaaS) de contratos inteligentes para personas jurídicas y naturales, de naturaleza pública y privada.

ZirconTech es una compañía que ofrece servicios de tecnologías de la información, conformada mayormente por un equipo de profesionales latinoamericanos con más de dos décadas de experiencia en desarrollo de sistemas, soporte e implementación de tecnología; ZirconTech es especialista en blockchain, internet de las cosas, computación en la nube, aplicaciones web y móviles, big data e inteligencia artificial.

Toño Rumbea y Martin Machin, representantes de SUSCRIBO y ZirconTech coincidieron en expresar que “Tras la pandemia de COVID-19, es probable que solo sobrevivan las instituciones que logren digitalizar y automatizar lo antes posible sus procesos y sus archivos contractuales de papel, incorporando la gestión de obligaciones contractuales con otros sistemas empresariales de firma digital, gestión, facturación, cobros y analítica”.

A partir de esta alianza estratégica, los integrantes de SUSCRIBO y ZirconTech llevan a cabo acciones de investigación, ensayo y desarrollo. Actualmente, los especialistas han unido de manera exitosa flujos contractuales inteligentes con CRMs y ERPs de clientes; a la vez que ejecutan proyectos de integración con APIS bancarias transaccionales, con bases de datos tipo buró de crédito e índice de precios, y finalmente actividades con sistemas de firma y certificado electrónico según jurisdicciones. Ambas compañías trabajan también en la estructuración de un componente de soporte técnico en back office para clientes en América Latina.

Más información sobre nosotros en www.zircon.tech

Más información sobre SUSCRIBO-Contratos Digitales en www.suscribo.com

Data Integration Benefits. People working to integrate data.

What is Data Integration?

Thanks to Data integration, your company can use data collected from different systems in a unified way. So the unified data transforms into a more valuable asset for your business. Among all the data integration benefits, one of the main ones is helping people inside the company work better and do more for your customers. But when a company doesn’t use data integration benefits, people in the company don’t have the means of obtaining the data from the business’s different unintegrated systems. 

Clients may receive emails from different areas of the company requesting information that the clients have already delivered. But other areas of the company cannot access the same information because the information systems aren’t integrated. Sometimes unintegrated systems lead to data being shared manually via spreadsheets or emails, which increases the probability of mistakes in the future.

Another of the leading data integration benefits is helping to avoid this kind of problem in modern companies. In this way, information can be shared between ERP or CRM systems and vice-versa. This way, everyone in your company has the needed data to work properly.  Mistakes are eliminated, and the whole business gets the benefit out of the available systems. 

A Short Story of Data Integration

In the past, communicating information within a company, such as purchase orders and invoices, was made traditionally on paper. There were isolated systems in a single company that can produce some batch processing that could send data from one to another through an electromagnetic device or just paper. 

Although Electronic data interchange (EDI) was created in the early 70s, the use within and between companies was not very spread.Technical standards like EDI appeared to facilitate businesses communicating information electronically. EDI replaced paper and used electronic means to share information within companies.

Word of 1990: Data integration benefits

In the middle of the 1990s, the National Institute of Standards and Technology defined Electronic data interchange as the computer-to-computer interchange of strictly formatted messages representing documents. In those years, the different systems inside a company weren’t integrated.

So the 1990s were about breaking down internal walls. Companies were confronting the challenge of integrating and redesigning enterprise processes using ERP (Enterprise Resource Planning) systems. But at that time, enterprises transacted with each other via mail, phone, and fax. These interfaces were cumbersome, slow, labor-intensive, costly, and prone to generating mistakes that caused delay, error, overhead costs, and limited communication. 

With the advent of the internet, more and more organizations were connected. Finally, most or all EDI communications were moved to the Internet. The connection was the solution and the internet-enabled high-quality fast connections with the right amount of data.

World of 2000: Data Integration Benefits

The 2000s were about breaking down external walls by integrating and redesigning inter-enterprise processes using the Internet. A fast, cheap, and ubiquitous communication system. A tool for changing how companies worked together. A catalyst for reengineering inter-enterprise processes. Virtual integration enabled multiple enterprises to work as though they were one through processes that ignored enterprise boundaries.

Different Problems of Unintegrated Data

Independent databases

Enterprises that work together nonetheless use separate databases for operations and decision-making. These databases are separately maintained and therefore inconsistent, and they each reflect only part of the overall situation. 

The consequences of this kind of practice are:

  • Sub-optimization
  • Slow cycle times
  • Reconciliation costs. 

The solution to this problem is Database Coordination. Here we find another principal data integration benefits when different departments within a company can work collaboratively with shared data.

Innumerable interfaces

Enterprises have many individual and independent interfaces with other enterprises. These transactions are of small scale individually, and collectively they represent a complex system. The consequences are confusion, redundancy costs, and missed leverage opportunities.

The solution for these problems seems to be the combination of multiple interfaces and multiple transactions into one. These practices benefit from reducing transactional overhead, generating consistent interfaces, and economies of virtual scale. These are other kinds of data integration benefits too.

Fragmented Processes

Enterprises are managed as self-contained entities, performing processes that fit entirely within their boundaries. These processes are, in fact, merely fragments of more extensive inter-enterprise methods. The consequences are redundancy, sub-optimization, and unnecessary overhead. The solution for these problems is compression. So, by treating an inter-enterprise process as a single unit, it is best done. 

This practice has different benefits as:

  • Overhead costs are reduced.
  • Improvement of tasks and process performance.
  • Elimination of redundant activities.
  • Strategic focus.

Companies can  improve their performance by:                                    

  1. Streamlining interfaces (connecting)
  2. Sharing information (coordinating)
  3. Aggregating interfaces (combining)
  4. Integrating processes (compressing).

The benefits of these practices can be the elimination of non-value-adding overhead created by enterprise walls and the improvement of their performance by leveraging other enterprises. Putting a Web site in front of lousy processes merely advertises how lousy they are is not the right business solution. Companies need to integrate benefits internally to integrate externally. This way, they are experiencing data integration benefits.

Data Integration Architecture

According to Philip Russom’s article today, many data integration specialists still build one independent interface at a time, which is inherently anti-architectural. And a common misconception is that using a vendor product for data integration automatically assures architecture.

But if you don’t fully embrace data integration architecture, you can’t experience data integration benefits. You will not get to know how architecture affects data integration’s scalability and ability to support real-time, master data management, and interoperability with related integration and quality tools. 

Complexity is the main reason why data integration needs architecture. Data integration affects data flow from diverse source systems like operational applications for ERP, CRM, and supply chain, where most enterprise data originates. Through multiple transformations of the data to get it ready for loading into diverse target systems like data warehouses, customer data hubs, and product catalogs. 

Since these are various types of applications, database brands, file types, and so on, all these have different data models, so the data must be transformed in the middle of the process. Then there are the interfaces that connect these equally diverse pieces. And the data doesn’t flow uninterrupted, or in a straight line, so you need data staging areas. Simply put, that’s a ton of complex and diverse stuff that you have to organize into a data integration solution to profit from data integration benefits. 

That is why nearshoring a data integration partner will ease the process. Not all vendors are qualified; we suggest this article to find yours.

Goals of Data Integration Architecture:

Data integration architecture imposes order on the chaos of complexity. It makes companies serve from data integration benefits by achieving specific goals:

1) Architectural patterns as development standards: Most components of a data integration solution fall into three broad categories: servers, interfaces, and data transformations. With that in mind, we can think that Data integration architecture is simply the pattern made when servers relate through interfaces. An architectural pattern is to provide a holistic view of both infrastructure and the implementations built on it. 

2) Simplicity for reuse and consistency: When development standards and architectural patterns are applied to multiple data integration projects, the result is simplicity, which promotes the reuse of data integration development artifacts and increases consistency in handling data.

3) Harmony between common infrastructure and individual solutions: For a solution to be organized in preferred architecture, the infrastructure must enable that architecture. Mostly the data integration production server and the interfaces it supports. 

The most common architectural pattern for data integration is Hub-And-Spoke architecture. In this architecture, inter-server communication and data transfer pass through a central hub, where an integration server manages communications and performs data transformations. 

What is the GDPR? 

The General Data Protection Regulation (GDPR) is the most robust privacy and security law in the world that was put into effect on May 25, 2018. This Europe’s data privacy and security law include a significant number of requirements for organizations around the world. 

It imposes obligations onto organizations anywhere, so long as they target or collect data related to the EU people. The GDPR has the power to impose harsh fines against those who violate its privacy and security standards, with penalties reaching into the tens of millions of euros.

Thanks to the GDPR, Europe signifies its firm stance on data privacy and security when more people are entrusting their data with cloud services, and breaches are a daily occurrence. The regulation itself is extensive, far-reaching, and relatively light on specifics, making GDPR compliance a daunting prospect, particularly for small and medium-sized enterprises (SMEs).

It’s worth mentioning GDPR in this context because when you harness the power of data, integrate all your internal databases, and enrich your systems with aggregated and external data, you have to look at the regulations and be compliant.

What is DataOps?

In this article, Andy Palmer tells us that large companies are experiencing a foundational shift in how they view and structure their data. 

Nowadays, organizations capture more data than ever before and store it in an ever-increasing variety of data stores. The accumulation of data over time makes companies struggle to manage that tremendous volume of data. 

For decades, companies’ data environments have been deeply fragmented and virtually impossible to integrate at scale. Indeed, even basic questions about the business, like “Who are my customers?” can’t be answered consistently. This reality is making companies accept that they need to start managing their data as an asset, and It’s time to rethink priorities and start putting the “data horse in front of the analytics cart.”

Data Operations (DataOps) is a methodology for companies where people process data from different business data sources quickly, regularly, and reliable. The concept is that the best way to increase the velocity of new features being delivered in software is by using a continuous build, test, and release process with a strong emphasis on QA automation. 

Companies expecting to compete based on analytics need to empower analysts with easy access to updated unified data logically organized. By implementing a data curation process that is integrated, repeatable, and scalable, it will be possible for a business to serve from data integration benefits, achieving the analytic velocity necessary to create a competitive advantage.

Data Integration Benefits 

According to this article from youredi.com, Cloud-based integration platforms have started to become quite popular lately. Below you can read about seven main Data Integration Benefits that companies can see once they have switched to cloud-based integration platforms: 

1) Easy and fast connections: Developing connections have been a painful task that took a long time, even months sometimes. Point-to-point hand-coded integrations are time-consuming and risky. When you need to integrate data sources internally, you want to ensure that it happens as quickly as possible. Doing data integrations in the cloud seems to be the best new way. It is easy and fast because of the pre-built adapters and connectors that can be easily replicated.

2) Integrate data from multiple sources: When your company uses tons of applications, systems, and data warehouses. Better collaboration must connect all the different data sources to utilize the value of insights. Once all the information is available in a single place in real-time for all the right stakeholders, your company will be able to use the information for improving processes and providing better services.

3) Availability of the data: As Data Silos are not sustainable, companies need to have the data available for all the right stakeholders in one place and in real-time. So, it’s essential to connect all the data sources to obtain all the necessary information in a single place.

4) More insights bring improvements: Once your company has all the data available in one place, you will be able to better utilize the available information. When you can use the data, you will have better intelligence on your operations and customers. You will be able to make better decisions based on the available information and improve your processes.

5) Better collaboration: When your company needs to improve the cooperation internally or with your trading partners, you will do so thanks to the Data Integration Benefits. By automating the flow of information will have a positive impact on how you do business. Your teams and stakeholders will achieve better collaboration because they have more information at their disposal.

6) Data integrity and data quality: Data integrity is an essential element of data integrations. Data integrity is the assurance of the consistency and quality of the data through its entire lifecycle. Using a data integration platform can give your business the ability to define validation rules. You can design processes that check the information and forward the damaged information back to the sender for correction.

7) Increase competitiveness: Having a data integration strategy for your company can help you plan what actions you need to take to improve data accessibility both externally and internally. This way, your company will be able to impact a lot of vital parts of your business. 

Finally, we can say that thanks to these seven Data Integration Benefits, people inside your company will be able to:

  • Work better among them and do more for your customers.
  • Use data collected in a unified way as a valuable asset for your business. 
  • Offer better services to your customers than your competitors.
Data Management Lifecycle Best Practices. People analyzing data.

Pandemic and isolation during 2020 have left us many lessons. Of course, it was a challenging time, full of limitations, uncertainty, and new challenges. But also full of valuable opportunities in the personal, work, and business fields. We don’t know how much time the pandemic will last, but there is a light in the darkness. It’s the certainty that the world has changed because people’s behavior has changed, and also, IT companies have changed forever. 

The operation, objectives, and challenges of this sector are going through the most significant change in the last twenty years. And most of these changes are related to the data management processes. We have never experienced this high level of data collection before. The pandemic and isolation have forced all companies, especially IT companies, to obtain more users’ data. Data that needs to be managed, processed, stored, and protected after being acquired.

Data Is the New Oil

Lately, I read an article entitled Data Is the New Oil of the Digital Economy that talks about how the 21st Century’s digital economy data were like oil in the 19th Century. Although oil was discovered in 1859 when Edwin Drake drilled, produced crude oil, and gave birth to the modern petroleum industry. The oil industry was extensively developed until 1870. When John D. Rockefeller and Henry Flagler with the Standard Oil Co foundation. Standard Oil Co. succeeded in dominating the oil products market thanks to its innovation in the oil industry. This company worked hard optimizing the production, logistics, costs, and business trust at that time. 

We’re undoubtedly in a digital economy where data is more valuable than ever. But, while oil proved to be a limited and harmful asset, data collection can be a true elixir for digital businesses. There will be huge rewards for those who learn how to extract data first—those who first prepare their information systems and start collecting. Here are some interesting facts about the digital data economy in the 21st Century:

  • Digital transformation is accelerating: New disruptive technologies as Virtual and Augmented Reality technology, Robotics, IoT (Internet of Things) are reshaping the way most businesses are functioning today.
  • New technologies such as AI, ML, and the cloud are transforming how IT businesses use data management processes. 
  • 21st century IT companies have the urgency to learn about processes such as Data Management Process, Data Lifecycle Management (DLM), and Information Lifecycle Management (ILM).
  • Data collection and analysis will become by 2030 the basis of all future service offerings and business models. 

What is a Data Management Process?

If data is the new oil, we can say that a Data Management process includes acquiring, storing, protecting, and processing that oil. Suppose you aim to turn your IT business into the next Standard Oil Company. So you need to follow the right process to ensure the accessibility and reliability of your data from users. Think of using Big Data to improve your business decisions and gain deep insights into customer behavior, trends, and opportunities. Also, to create extraordinary customer experiences.

According to this article from NG DATA, you need your company to use data management processes and platforms to make sense of the great quantity of data you need to gather, analyze, and store. Data management processes make some essential functions like processing and validating simpler and less time-consuming. Make use of a data management platform with the needed data management processes. It can allow your business to take advantage of large quantities of data from all data sources in real-time. Besides, it will enable more effective engagement with customers and increases customer lifetime value (CLV). 

It is essential to make use of top data management processes and data management platform because:

  • We are creating and consuming data at unprecedented rates.
  • These platforms give organizations a 360-degree view of their customers.
  • Data management platform allows businesses to gain deep, critical insights into consumer behavior.
  • These platforms give businesses a competitive edge to maintain in time.

Best Practices for Data Management 

An IT business needs to know the questions that need to be answered. So then, acquire the specific data that is necessary to answer those questions. This process will help to get the required insight to make decisions driven by data. To achieve this, IT Businesses need to do the following tasks:

  • Collect vast amounts of information from various sources.
  • Utilize best practices while going through the process of storing and managing the data. 
  • Cleaning and mining the data. 
  • Analyze and visualize the data to execute business decisions.

It’s important to consider that data management best practices result in better analytics that permits companies to optimize their Big Data. IT companies should try these data management best practices:

  • Simplify access to new and emerging data.
  • Debug data to infuse quality into existing business processes.
  • Shape data using flexible manipulation techniques.
  • Use data management platforms to gather, sort, and house their information.
  • Repackage information visualized ways that are useful to marketers. 

It is essential to count on a top-performing data management platform to give your employees the most accurate business information. This what they will be capable of managing all data sources in the best way for the whole organization. It is only through data management best practices that organizations can harness the power of their data to make the data useful. Data management best practices will enable your IT business to use data analytics in beneficial ways, such as:

  • To personalize and add value to your customer experience.
  • To identify the root causes of business issues in real-time.
  • To produce better revenues associated with data-driven processes.
  • To improve customer engagement and loyalty.

What is Data Lifecycle Management (DLM)?

According to this article from Bmc Blog, Data Lifecycle Management (DLM) involves entering a piece of data into a database. This way, employees can access the new data to make reports and analytics. Otherwise, it will remain in the database and eventually become obsolete. Data may have logic applied to different processes, but it will come at some point to the end of its useful life and be archived or purged. The concept of defining and organizing this process into repeatable steps for enterprise organizations is known as Data Lifecycle Management. And it can be made as an automated process to take data through its useful life. 

What is the difference between DLM vs. ILM?

Data lifecycle management is the reactant that pushes data from one stage to the next, from creation to deletion. DLM is all about a system designed to answer an essential question in data life: when should this information be deleted? On the other corner, we have another critical term associated with DLM. Information Lifecycle Management (ILM) seeks to answer another big question: Is this information relevant and accurate?

DLM and ILM are two sides of the same coin. You need to implement a robust system for data management processes or DLM to obtain an effective ILM strategy. DLM and ILM should form part of an organization’s overall data protection strategy. DLM is concerned with the whole mass of data, while ILM deals with what’s in a record. Ensuring that the most recent and useful records are accessible quickly and efficiently is the main target of a good DLM strategy. 

ILM has the valuable task of ensuring that every piece of information included in a record is accurate and up-to-date for the record’s useful life. A record becomes more and more obsolete as it passes through specified lifecycle stages. And when a document becomes obsolete, speed and accessibility are no longer prioritized for stale data.

Best Practices for Data Lifecycle Management  

There are no industry standards for enterprise data lifecycle management. But most experts agree that the different stages of the management cycle look like the ones you can see below:

  1. Data acquisition and capture: These occur at the beginning of the cycle when the organization obtains new information. This data could be in different formats as images or other types of Documents. At this stage, data entry professionals have the critical goal to ensure that the information they receive is as accurate as possible.
  1. Data Backup and Recovery: In the second stage, data entered into the system experiences some archival process that ensures redundancy. Active archives are an ideal storage method for businesses that need to store large volumes of data and have it accessible.
  1. Data Management and Maintenance: These processes make accurate data available in real-time for use and publication. To ensure that the record meets specific validations to be accessible for users. 
  1. Data Retention or Destruction: It is the final stage of the life cycle where data is retained or destroyed. But before destroying any data, it is critical to confirm if any actual policies would require your company to maintain the information for a particular time.

Benefits of Data Management and Data Lifecycle Management

Finally, I want to mention some benefits of these two powerful practices inside IT businesses. It is essential to manage large volumes of data. Your business needs to follow a strategy of Data Management best practices. Through these practices, companies can only control the power of their data and gain the insights they need to make this data useful.

In parallel with Data Management practices, there are also some benefits to why an IT business wants to implement Data Lifecycle Management processes. We can mention: obtaining compliance and governance, protecting valuable data, or making an ILM Strategy. All these benefits help businesses achieve greater agility and efficiency.

About ZirconTech:
A trusted partner that helps organizations thrive in their digital transformations. Mobility, Internet of things, artificial intelligence, big data, cloud computing and blockchain technologies. We can be your nearshore partner, contact us! 

Strategic IT cost optimization. Couple working on cost optimization.

When CIOs face cost optimization on IT companies they need to make a healthy balance between common IT spend, and investments in business innovation. The best strategies are those that pursue innovation while reducing unnecessary costs. According to Cognizant, Strategic IT Cost Optimization techniques are the right path to follow when CIOs want to prepare their organizations to grow. Always looking for the right balance between reducing IT spend on one hand, and increasing investments in innovation and IT improvement initiatives on the other. 

Strategic IT cost optimization process

IT cost optimization cannot be a one-time initiative, They should rather be a continuous process and a guiding principle for managing IT most efficiently. Although organizations can achieve an effective cost savings program, business uncertainty will continue to impact IT organizations. To overcome these situations, a CIO requires a strategic IT cost optimization program to:

  • Generate process efficiencies.
  • Improve the quality of service.
  • Build a stronger value chain.
  • Improve skill management.
  • Increase customer satisfaction.

Now we will focus on the benefits of a strategic cost optimization program. For this, we will follow a process to adapt IT cost optimization to organization goals. This process can help CIOs prioritize cost optimization initiatives by considering the potential cost savings and other benefits such as:

  • Time requirements.
  • Degree of organizational and technical risk.
  • Impact on customers
  • Investment required.
The Definitive Guide to IT Cost Optimization

IT & Business Alignment

Although this article is directed mainly to IT Companies, the concept of IT & Business alignment is an important goal that is not always easy to achieve. The IT & Business alignment integrates IT to the strategy and goals of the organization. To achieve this alignment organizations need to meet some key characteristics:

  • The organization must value its own IT resources as an instrument to enhance the business.
  • Must hold customer service, both externally and internally, at the highest importance.
  • It’s also important to rotate both IT and not IT business professionals across different departments and job functions. 
  • The organization has to provide clear and specific objectives to both the IT and  not IT business sectors. 
  • The organization needs also to create an inclusive business culture to unify the company as a whole.

IT Investment Optimization is the base stone in which lays IT & Business alignment. The following are the most important key point to achieve IT Investment Optimization:

  • Avoid declining IT budgets. 
  • Define new IT investment optimization goals
  • Identify investment opportunities.
  • Prioritize investment portfolio.
  • Develops ongoing governance.

Opportunity Identification

To identify IT cost optimization opportunities, a company should make an IT cost assessment. This practice can help find solutions to the business challenges identified through the merger or acquisition. It can also help generate increased utilization of IT resources and assets.

Alternate sourcing 

This can be an excellent practice when a company looks for a way to optimize IT costs. Every company needs to think about how many people it requires at its offices and how many it can have as outsourced. When thinking about the best outsourcing method, Offshoring can help to optimize cost by relocating activities into another country.

Nevertheless, Nearshoring might be the best option for IT companies that demand the best-qualified employees abroad, and that are linguistically and technically focused. Nearshoring allows IT companies to improve business efficiency but reduce the barriers of traditional offshoring because they outsource their processes to nearby countries. 

Get the ultimate offshore software development guide for CEOs. Download my ebook.

Cutting costs by renegotiating

IT companies can also seek out ways to save money through renegotiation with their vendors. And it can be a very productive practice because many vendors are in the position to negotiate. But it may be not an easy task, so it’s better to follow some important steps to renegotiating with vendors:

  • Consider the market data to support what is requested.
  • Don’t forget that you are trying to rebuild a pre-existing relationship. 
  • Take care of its long-term viability as well as achieving a reduction in costs.
  • Transmit to the vendor that your better financial health will probably translate into higher future orders.
  • Exchange a more favorable rate for a longer contract term.
  • Also, find out how you can help your vendor for saving money.

Standardization 

According to Gartner, rationalizing and standardizing enterprise applications is one of the best techniques to help CIOs turn to strategic IT cost optimization. It can reduce the application portfolio that always represents a large part of an IT budget. CIOs who standardize and rationalize their application portfolios can reduce and control costs. Savings can range between 15% and 25% of the application budget.

To adopt a standardized infrastructure can help keep in control the cost and enhance working quality. But always take care of how you are investing your organization’s money. It is important to do it with cost optimization in mind, to be sure that you are spending your business capital in the right way. 

Integrating, updating, and modernizing devices and applications were usually the core of every IT-specific cost-cutting in the past. But today new Cloud infrastructure solutions can help reduce complexities and simplify software administration. 

Realization of Benefits

The Realization of Benefits process will let you identify and measure your company’s benefits, enabling your business projects to be implemented with a clear vision of the delivery of outputs. To obtain a proper IT cost optimization you need to apply Realization of Benefits in areas such as software, hosting, networks, end-user computing, and IT overhead management. The following practices can help you with this task:

 

 

 

 

 

 

 

Infrastructure Rationalization

Gartner recommends that it’s a better plan to first simplify your existing systems, before spending large amounts of money to replace all your existing systems. To achieve this you need to identify existing assets. It’s a good practice to make an inventory of all servers and hardware currently in use and maintain it monthly. Then, you need to identify assets from that inventory list to be rationalized and consolidated. You can get advantages of this knowledge and make Infrastructure rationalization with the following actions:

  • Remove unnecessary assets.
  • Define common processes and tools.
  • Consolidate the number of physical locations where infrastructure is deployed.
  • Adopt virtualization to better utilize infrastructure assets.
  • Rationalize the variety of items in the infrastructure.

You are practicing consolidation when you reduce the number of physical servers, while you are practicing rationalization when you reduce the variety of different server types. Both practices can help you simplify your business IT infrastructure, but rationalization is often overlooked, even when most IT systems have underutilized or inappropriate systems. Consequently, consolidating without rationalizing will only perpetuate unnecessary functions in your infrastructure.

Global Sourcing

Your business can make use of practices such as Global Sourcing to obtain the highest levels of efficiency possible in goods and services from the global market. Many foreign suppliers offer their services at a competitive price, especially in low-cost regions. The main goal of this kind of practice is to improve service costs while maintaining the exacting quality standards required. But don’t forget that Nearshoring might be the best option for IT companies to obtain the best-qualified workers abroad. 

Application Portfolio Rationalization

Another good practice in the search for Realization of Benefits is the Application Portfolio Rationalization according to Apptio. It is the process of cataloging and eliminating duplicate software applications used across an organization. This rationalization practice can help you to improve efficiency by simplifying portfolio complexity. It can also help you to lower the total cost of ownership (TCO) for your business application portfolio. 

When your business application portfolio is aligned to business outcomes, it is when Application rationalization initiatives tend to be more successful. You need to identify a defensible and repeatable process to get the best benefit from your Application Portfolio Rationalization. 

To execute the best plan of action, focus one by one on every activity to maximize success. You can create an application catalog, assign costs, create a point system to assign a score to each application. Last but not least, maintain this as a continuous process to sustain momentum.

About ZirconTech:
A trusted partner that helps organizations thrive in their digital transformations. Mobility, Internet of things, artificial intelligence, big data, cloud computing and blockchain technologies.

Data Managment Benefits. People analyzing data.

Data is the new energy source. How are you managing data in 2021?

We can say undoubtedly that 2021 is the year when definitely companies have to work with data. Because it is the force that converts knowledge and insights into action. Companies need more than ever to understand its power, to identify the information that they have, and learn to make good use of it with solid practices of data management.

The use of the information has great benefits that companies need to use to achieve an advantage over their competitors. There is one important point that business managers need to have in mind about data management. And this point is that those who use it win and those who don’t suffer the consequences.

What is data management?

Data management depends more on the practices than the technologies that your business has. It combines certain practices like collecting, keeping, and using the information in ways that are secure, efficient, and cost-effective. The connection of different data sources like structured databases or unstructured information makes it possible to obtain the content and knowledge needed to make decisions and take actions that maximize the benefit to the organization. Today, a strong data management strategy is one of the most important practices that a company has to achieve. It’s an intangible asset that creates one of the organization’s major values.

How are you managing data in 2021?

In this modern economy, companies that don’t understand the importance of data management are less likely to survive because a company’s information is its most valuable asset. Data is the foundation of every modern business. Information and knowledge are the main tools to correct decisions and actions. I mean it when I say that data is the new oil. Certainly, information is today’s most powerful energy source for your business. But your company needs help to make effective usage of their data. 

First, you need to know exactly at which point of the data management process your business is. To know it, you first need to answer a series of questions. The industry has been talking about this for at least 5 years, but we are now in 2021, what are we waiting to take advantage of what we have and what we can achieve? Particularly in a pandemic time when the digital transformation only accelerates

Where is your business on the path to effective data usage?

Do you have data?

It seems obvious, but it is the first of all things to know when we talk about data management. Maybe your company needs certain information that it doesn’t have. So first, you have to prepare your company’s information systems to start collecting valuable data.