On October 19th, the British Chamber of Commerce in Mexico, through their Business Development Group, hosted the Big Data Cocktail-Conference at Ernst & Young (EY) Mexico Headquarters, with the participation of Julio Velázquez, Software Director, and Baltazar Rodríguez, Director and Evangelist of Cloud Solutions at IBM Mexico.
The event was inaugurated with a welcome speech by Emilio Díaz, British Chamber President and Brand Partner for EY Mexico, addressing and thanking attendees for their presence, and then introducing the speakers.
Julio Velazquez began his presentation with an interesting video providing some background on Big Data and the digital world. Julio stated that information is an important asset, along with the people that make up an organisation. One of the highlights of his presentation was outlining the new businesses that revolutionise markets, mentioning cases such as: Uber, Airbnb, Alibaba and Facebook, whose infrastructure, despite their sophistication, is mostly data.
Julio Velázquez, Software Director at IBM Mexico gives his presentation.
Julio mentioned that a new business model setting the pace within different industries is making it clear that both innovation and transformation are key in keeping up with evolving markets; those who do not innovate may see their business suffer in a near future. A clear example is Uber, which transformed the industry and became a threat to companies operating in the same market, who didn’t expect UBER to succeed in the way that it has. While disruptive technology may not change the core business of companies, at the same time technology revolutionises everything. Whereas before businesses were divided into business to consumer, or business to business, today’s business model is everyone to everyone.
Julio also discussed how technology is getting closer to the user, our day to day needs are being satisfied or resolved by algorithms, constantly becoming more cognitive and responsive towards the us. Data is the new natural resource for companies, and has now become the second most appreciated asset (employees being the first). Therefore, companies are facing a new challenge: creating a dedicated business to analyse and understand big data.
The Cloud, according to Julio, is a diaspora of systems in which data is stored, containing massive quantities of information, helping companies make important decisions. Therefore, when managed and analysed, companies can increase sales, decrease costs, and, as a whole, revolutionise their business model. The Cloud strengthens the value chain of companies, providing on demand, real time information. Julio presented successful case studies, AXA Seguros, PLM Movil, The North Face, Hilton, and Consorcio GIG, all which have used the power of big data to improve their sales and to stay ahead of their competition.
Baltazar Rodriguez, addressed how unicorn* startups (Uber and AirBnB) have changed the face of their industries completely, eroding market share from the main stake-holders and changing the rules of the game. According to Baltazar, cumulative creativity has had a huge impact on industry. He now calls the current economic scenario as a horizontal
revolution, highlighting Julio’s previous mention of how today’s business model is everyone to everyone.
Baltazar remarked that technology has shaped the economic landscape in every way imaginable, including the labour market, demanding specific jobs and positions to attend to these changes. The winds of change are very rapid, and companies are challenged with keeping up. The market today belongs to the most agile.
Baltazar concluded that previously consumers valued only the final product.
Nowadays, they seek and value mindful experiences. Consumers will be more loyal if the experience provided to them is tailored to their specific needs. Also, the Cloud is a very powerful source, which, when used well, can be very profitable to businesses, providing information that can be analysed.
After Baltazar’s presentation, attendees enjoyed a cocktail to network and exchange their opinions with the speakers.T
The British Chamber of Commerce would like to thank the Business Development Group for their dedication in creating high quality and engaging events. We also extend our gratitude to Julio Velázquez and Baltazar Rodríguez for their participation, and to EY Mexico for allowing us to host our event at their offices.
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* A unicorn, in the world of business, is a company, usually a start-up that does not have an established performance record, with a stock market valuation or estimated valuation of more than $1 billion
Read more: Unicorn Definition | Investopedia http://www.investopedia.com/terms/u/unicorn.asp#ixzz4PRgwkCBP