Goldman Sachs in Hot Water Again
April 18, 2012
Info sharing the MBA way: The Washington Post announces that “Goldman Fined $22M for ‘Willfully’ Violating Law on Information-Sharing, SEC Says.” Apparently, the SEC had a problem with the weekly “huddles” with favored clients that Goldman Sachs held from 2006 to 2011. The article reveals:
“The agency did not accuse Goldman of insider trading, but it essentially said the firm created an environment in which systematic trading based on advance information could have gone unchecked. In this case, the information was the ‘buy’ or ‘sell’ recommendations and other stock analysis by the firm’s own employees. “Goldman agreed to pay a $22 million penalty to settle the agency’s administrative case and a parallel action by the Financial Industry Regulatory Authority (Finra), an industry self-regulatory group. Goldman also agreed to be censured and to change its policies and procedures, the SEC said.”
Well, that ought to do it; I’m sure the firm has learned its lesson.
Finished laughing? In fact, Goldman has faced plenty of these measly (to them) fines for missteps, and it just keeps stepping. In this case, though, the announcement comes on the heels of the bad press caused by former employee Greg Smith’s resignation statement he had published in the New York Times. (If you haven’t read it yet, check it out here. It’s a doozy.) Will the timing matter?
Goldman Sachs keeps finding itself in hot water, but don’t worry. I’m sure its executives will be just fine in their insulated golden life rafts. I wonder if MBAs know what the buoyancy of golden life vest is.
Cynthia Murrell, April 18, 2012
Sponsored by Pandia.com
Big Data: The Next Bubble
April 18, 2012
A colleague in Europe sent me information about a new study sponsored by SAS. To tow the line, I have done work for SAS in the past and we use SAS technology for certain types of analytic work. Nevertheless, the SAS report surprised me with its robust estimate of the uptake of big data, which is now the buzzword and trend poster child for 2012. The report was generated by CEBR, which is an azure chip outfit performing various analyses for government entities and enterprisers.
First, you will need to snag a copy of the report “Data Equity: Unlocking the Value of Big Data.” SAS did not “know” me, so I had to register again and you may have to jump through hoops as well. I don’t know if SAS will call to sell me something, but you may get a ringy dingy. Don’t blame me.
The main point of the study is that every industrial sector will be forced to deal with big data. Okay, as news flashes go, this is not one which lit up the Beyond Search editorial team. We did notice a number of interesting charts. The one reproduced below shows how much uptake in big data occurs by industrial sector today and in 2017. The key point is that the numbers and bars show big data becoming a “big” deal.
Source © 2012 Centre for Economics and business Research Ltd.
My view is that the study is interesting. Omitted is obvious weightings which consider:
- Economic downturns in the broad economy
- Facts which suggest even laggard sectors like manufacturing will embrace the big data shift
- Exogenous factors such as war in the Middle East or in the volatile areas bordering on China.
So big estimates go with big data. Big dreams are useful. Reality? Well, that is often different.
Stephen E Arnold, April 17, 2012
Sponsored by Pandia.com
One Real Journalist Disagrees with Another Real Journalist. News?
April 17, 2012
Recursive journalism has arrived. Gigaom takes on a legend in “Why Bob Woodward is Wrong About the Internet and Journalism.” It seems Woodward, of Woodward and Bernstein fame, believes the Internet can’t hold a candle to good old-fashioned journalism. He has stated:
“The truth of what goes on is not on the Internet. [The Internet] can supplement. It can help advance. But the truth resides with people. Human sources.”
Writer Mathew Ingram disagrees. He does sincerely give investigative journalism its due, citing Seymour Hersh’s recent report in the New Yorker on the U.S. government secretly training MEK fighters from Iran at a base in Nevada as a current example of its value. But he also treasures the collaboration made possible by the Web. As he points out, the Collateral Murder video might never have seen the light of day without the Internet.
Woodard, Ingram charges, yearns for the day when journalism was a solitary pursuit.
The article concludes:
“That view may be a lot more romantic, and it serves the purposes of journalists who see themselves as a special breed, with special powers that normal mortals don’t possess. It also serves the purposes of newspapers and other traditional media entities, which would like to be the sole source of all value in the media ecosystem. But it doesn’t really serve the purposes of journalism or society as a whole.”
Ouch. When real journalists collide, the result is recursive admiration. Is this real news?
Cynthia Murrell, April 17, 2012
Sponsored by Pandia.com
Suggestions for Talking Search Solutions with your Boss
April 17, 2012
Karen Lynn presents a frustrating and all-too-familiar information overload story that staff and management often experience – tirelessly searching for emails, invoices, reports, product numbers, and more with little or no avail. You can read Lynn’s comments in, “Selling Search Internally – Part 1 – How to Get Buy-In from Your Boss.”
Lynn says that a powerful search overcomes this roadblock in the work process. Faster services to customers, less staff frustration, and higher productivity can all be results of an efficient search system. But maybe you know the needed solution as a staff member; however, your boss is not yet on board.
Lynn has this to say:
But how do you convince the boss that your company would benefit in an investment in search technology? This is the tricky part for many managers inside organizations. Search is hard, and often expensive. Here are the main points you should make with your boss.
- Search isn’t a box, it’s an engine
- Search makes money / saves money = bottom line results
- Sharing information promotes better decision making, faster response time
- Search will give your organization a competitive edge in a cutthroat marketplace
We know the value of a powerful search engine in the enterprise. But Lynn takes a refreshing and pragmatic approach to implementing the first part of the solution – getting your co-workers and bosses interested in enterprise search investments.
Lynn also suggests that if you bring the search problem to your boss, also bring a solution. One we like is Fabasoft Mindbreeze Enterprise. Mindbreeze Enterprise Search lets you . . .
. . . be well informed – quickly and accurately. The data often lies distributed across numerous sources. Fabasoft Mindbreeze Enterprise gains each employee two weeks per through focused finding of data (IDC Studie). An invaluable competitive advantage in business as well as providing employee satisfaction.
When discussing the problem and solution with your boss, Lynn advises giving real examples to back up your suggestions for improvement. To go with your real work examples of the problem, add boundless data search and clearly structured search results as just two of the solution’s benefits worth mentioning to coworkers and management. Read more at http://www.mindbreeze.com/.
Philip West, April 17, 2012
Sponsored by Pandia.com
Training Seminars Vital to PLM Success
April 17, 2012
Across all industries product lifecycle management as a solution is being utilized. Although some industries, particularly those with a heavy emphasis on engineering design, are veterans at PLM, the newest industries to turn to PLM to streamline processes and eliminate wastes still are not completely convinced. PLM within the medical community is thriving thanks in large part to the outpouring of support and training from the PLM community. A recent press release on MarketWatch, “Omnify Software and CADD Edge Launch Product Lifecycle Management Seminar Series,” demonstrates how one PLM provider is reaching out to medical data professionals.
The article explains of a February 7, 2012 seminar as saying,
“…Omnify Software and CADD Edge kicked off their PLM seminar series in Andover, MA featuring Barry Mendell, Engineering Services Manager for Mevion Medical, as a keynote speaker. With over 15 years of experience using various Product Lifecycle Management products, Mr. Mendell touted the benefits PLM can deliver to manufacturers of all sizes by providing a centralized and controlled location to manage all product data and documentation across the enterprise…As a medical device manufacturer, PLM is integral to Mevion’s product development operations to ensure they are delivering high quality products with processes that adhere to stringent FDA and ISO compliance guidelines.”
Training is most definitely the key to PLM solutions being optimized within companies. Without everyone on board, one hundred percent, with a clear understanding of their role as well as the entire ‘big picture’ behind the PLM solution endeavors will be for naught. Omnify is not the only PLM provider focused on providing training. Inforbix, a leader in the field, works hard with their clients to provide smart data management solutions while simultaneously training employees to better find, share and reuse data.
Catherine Lamsfuss, April 17, 2012
Conflicting Facebook Studies Should Be Taken With a Grain of Salt
April 17, 2012
Search Engine Watch’s Miranda Miller recently reported on some interesting brand trends resulting from Facebook’s switch to the Timeline in the article “Conflicting Facebook Brand Page Studies Highlight Universal Truths in Online Marketing.”
According to the article, there have been conflicting reports regarding fan engagement with the new Facebook timeline. Simply Measured’s study found that fan engagement increased 14 percent; content engagement was up 46 percent; and interactive content engagement skyrocketed 65 percent. EdgeRank Checker, on the other hand, concluded that brand pages are seeing a drop in engagement, regardless of whether they’ve switched to Timeline. Plus they had a much larger sample group of 3,500 pages compared with Simply Measured’s measly 15.
After sitting several other conflicting studies that are bound to make your head spin, Miller encourages readers not to drink the Kool-Aid:
“We can use their data not at face value as the be-all-that-ends-all or cornerstone of our own strategy, but as a benchmark for our own pages. It could mean as much to you as the catalyst for a full audit of your own accounts, or as little as a piece you skimmed over in 30 seconds and might only recall as, “I heard something, somewhere about that… 190 percent or something, what was that…”
Okay, Facebook helps reveal “universal strategies”. We’re believers in universal strategies from the commons, are you?
Jasmine Ashton, April 17, 2012
Sponsored by Pandia.com
More Googley Legal Action
April 17, 2012
We find more legal hassles for Google in “TQP Sues Another Round of Companies on Cryptography Patent.” TQP claims Google uses a patented method (patent ’730, filed in 1992) for transmitting data as a sequence of blocks in encrypted form over a communication link. According to the allegations, this patent is broken every time someone connects to one of Google’s Web sites. See the article for the technical details.
TQP is no stranger to patent lawsuits. In fact, the write up tells us:
“TQP has been very active since late 2008, suing hundreds major corporations in multiple lawsuits. TQP, a Texas company, has filed each case in the Eastern District of Texas, a popular venue for patent plaintiffs. While some of the defendants have settled with TQP, others are continuing to litigate the patent.”
Patent wizards are experts that we feed and nurture. Will common sense prevail, or will the patent wizards continue to grow more important? I suppose it is good for Acapulco condo brokers and Mercedes dealers. For innovation, well, maybe not so useful.
Cynthia Murrell, April 17, 2012
Sponsored by Pandia.com
Search Asserts its Place
April 17, 2012
Is SEO is relevant? We admire the SEO folks’ creativity, as demonstrated in Search Engine Watch’s “Integrated Marketing: Why Search Needs a Large Seat at the Table.” In the write up, writer Eric Enge discusses a panel on Integrated Marketing he attended at this year’s SES New York conference. The article asserts:
“Yes, we’re in the business of harvesting demand, but search should have a large seat at the table for the following reasons:
- As our culture becomes increasingly digital, search represents one of the largest channels for harvesting demand created by traditional marketing.
- Search can harvest demand that traditional marketing didn’t even try to create. This may the single most important benefit of search.
- SEO deserves a large seat at the table because it may provide the most profit in the long run, which creates cash flow to fuel future programs and growth.
- Ranking in top positions on generic search terms has a large brand impact.”
Hmm. I see a bit of supposition in there, and some points that might simply become outdated soon.
Enge laments the perception outsiders have that the search marketing industry is all about harvesting. Well. . . yeah. See one and two, above.
Cynthia Murrell, April 17, 2012
Sponsored by Pandia.com
Inteltrax: Top Stories, April 9 to April 13
April 16, 2012
Inteltrax, the data fusion and business intelligence information service, captured three key stories germane to search this week, specifically, the ways in which money is dealt with in analytic terms.
Saving money is the focus of “Knowing Needs and Wants Save Tons with Big Data” which aims to help buyers decide what they want in an analytic package before buying.
Making the right investment for you is covered in “Speed is the Analytic Key” which says, above all other factors, spend extra money on speed because that’s the quickest to get outdated.
Finally, “Series-B Investments Expand Analytic Growth” shows how smaller firms and startups depend on private investors to compete with the big names in a big data.
Money makes the world go around and the big data planet is no different. But the ways in which it is saved and spent and acquired could fill a book. We are writing a new chapter every day and hope you’ll join us.
Follow the Inteltrax news stream by visiting www.inteltrax.com
Patrick Roland, Editor, Inteltrax.
April 16, 2012
Google and Its Stock Split
April 16, 2012
I pointed out that the big news from the Google quarterly report was the erosion of revenue from Google’s core business.
Other addled geese, poobahs, and mavens found the stock split more troubling. A good example of the reaction is this Reuters real news story: “Google’s Evil Stock Split.” The idea is that Google seems to be perilously close to violating guidelines put in place 90 years ago. Here’s the key point in my opinion:
Google has, now, clearly violated the spirit of the NYSE rules, if not their letter. It took 15 months for the independent directors on the board to be persuaded of this, in long and secret deliberations.
Well, the independent directors * were * convinced.
I also enjoyed this comment in the Reuters real news story:
This move, then, is basically a way for Google to try to retreat back into its pre-IPO shell as much as possible. It never really wanted to go public in the first place — it was forced into that by the 500-shareholder rule — but at this point, Google is far too entrenched in the corporate landscape to be able to turn back the clock. It’s too big, and too important, and has been public for too long. That’s the thing about going public: it might suck, but once you’ve done it, you’ve done it. And at that point, if you try to pull a stunt like this, you risk looking all too much like Rupert Murdoch.
Okay, real Silicon Valley is starting to look like the real news paragon, Rupert Murdoch.
Wow.
My take is very simple.
The Googlers know that revenue softening can no longer be swept under the rug or surrounded with big band music and fancy dancing. The numbers are too big. The declines are double digits. The grousing about Panda and the push to get people to buy AdWords to visible to some Web site operators.
Therefore, the stock play is designed to leave the existing management team in charge as the financial news get increasingly dodgey. The Google senior management team does not want to be looking at a start up to fund without the Google ID card in their pocket.
So the erosion of online ad efficiency is causing the control push. Because this has been going on among the independent directors, I have concluded that the revenue erosion was noticeable in 2010, maybe earlier.
Will control reverse the online advertising money machine’s functioning. Nah, but the days of the “Google can do no wrong” are either over or drawing to a close. Google has these issues with which to contend:
- Legal hassles. Big disc brake applied to some activities.
- Amazon, Apple, and Facebook. Each of these companies has learned from Google. This is The Google Legacy I wrote about back in 2004 or 2005. You might want to check it out because Amazon, Apple, and Facebook have out Googled Google and seem to be gaining strength as Google does the fancy dancing.
- Costs from brute force solutions. Google spends a lot of dough to keep its brute force indexing system up and running. Facebook, on the other hand, can just spider Web urls which its members have posted. No brute force required to get started with an interesting search solution. Amazon has slapped A9 in the AWS plumbing and can move into search niches where Google has not gotten significant traction. Apple, which Google really wants to emulate, keep chugging along with a walled garden and customers’ religious fervor. Do you know anyone with religious fervor toward the Google. Well, I know one company. Oracle. See item one above.
Net net: Blekko/Yandex and Facebook could put the squeeze on the Google with a little luck and some good timing. How will Google respond? No clue. Google is not accustomed to playing defense. Ego is a potent concept. As the Greek tragedian said:
Cleverness is not wisdom. Bacchæ l. 395
Stephen E Arnold, April 18, 2012
Sponsored by Pandia.com
-
- Subscribe to Beyond Search
Feature archive
News archive
-
