Harnessing The Power of Data Can Grow Business Revenue By Up To 9.5%

Image credit: Kaleidico

Businesses in Australia and New Zealand that use data effectively can, on average, increase their annual revenue by 9.5%. This translates to an additional $38 million in annual revenue for large organisations in Australia with more than 200 employees.

According to a new AWS report prepared by Deloitte Access Economics, organisations with more than 100 employees improved their data capabilities in the previous year, with 34 per cent achieving Advanced or Master levels of data maturity, compared to 16 per cent in 2021.

Almost half of the organisations polled (48 per cent ) stated that effectively capturing and analysing data can lead to increased productivity, followed by improved customer experience (45 per cent ) and lower operating costs (42 per cent).

Finance and insurance companies scored the highest on the data maturity scale, with 50 per cent achieving Advanced or Master status, followed by manufacturing (45 per cent ) and information, media, and telecommunications (33 per cent ).

On the other hand, construction, healthcare and social assistance, and retail trade organisations have the lowest data maturity levels, with less than 20 per cent of surveyed organisations in these industries achieving Advanced or Master levels of data maturity.

Unusual challenges

While improving data maturity benefits businesses, large organisations in Australia and New Zealand continue to face challenges in climbing the data maturity ladder, with 42% of organisations achieving Basic and Beginner data maturity.

The main barrier cited by organisations to use data and analytics was a lack of funding (44 per cent ), which has been exacerbated by COVID-19, with 49 per cent of respondents reporting that competing priorities have resulted in fewer resources for data and analytics since the pandemic’s onset. Furthermore, 37 per cent of organisations cited poor data quality as a barrier to businesses adopting more advanced data analytics.

“We are excited to see that more organisations have advanced their data capabilities, which will help them to drive productivity, and create a positive impact on the economy while delivering significant financial returns for their business,” said John O’Mahony, partner at Deloitte Access Economics.

“Investing in cloud solutions will help businesses further their data capabilities and leverage advanced analytics tools such as artificial intelligence, machine learning, and the Internet of Things to achieve data-driven insights.

In fact, businesses that already use the cloud are 71 per cent more likely to have invested in artificial intelligence and machine learning capabilities versus organisations using on-premises data storage. To increase productivity and innovation, organisations should have a clear and practical roadmap for advancing on the data maturity ladder, invest in attracting and retaining talent, and leverage the right technology to reap the full benefits.”

According to the report, one-third of Australian and New Zealand organisations (35 per cent ) cited a lack of skilled resources as a barrier to developing their data and analytics capabilities. To improve data maturity, 33 per cent of surveyed organisations prefer to upskill their current employees, followed by outsourcing to other organisations (24 per cent ), and hiring skilled staff (24 per cent ).

“Data can be an invaluable source of growth for organisations in Australia and New Zealand. The key is recognising its inherent value, analysing it effectively, and building a data-driven culture.

“No matter what stage organisations are in their data journey, AWS is committed to helping customers leverage the scalability, cost efficiency, and security of the cloud to scale their data projects and unify their data to drive productivity and innovate on behalf of their customers,” said Rada Stanic, chief technologist at AWS in Australia and New Zealand.

“Organisations will also benefit from building data skills within their teams, which may involve upskilling current staff through on-the-job training and training courses or collaborating with organisations such as our extensive network of AWS Partners.

“As organisations increase their data maturity, it will transform how they solve problems and build customer experiences, leading to breakthroughs in all industries, including healthcare, finance, retail trade, and manufacturing operations.”

.
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Facebook Slows Sales Growth With Apple’s Privacy Policy

Apple warned that sales growth slowed in the last quarter Of a corporation. App privacy rules continue to create uncertainty for social media companies. Facebook’s ad sales, a major source of revenue, slowed growth in the first quarter since Apple began demanding apps to ask users if they wanted to be tracked in April. This change makes it harder for advertisers to target their ads to the right audience and get information about their performance.

Facebook also announced on Monday that it will change its reporting structure to split a unit called “Facebook Reality Labs” that contains augmented reality and virtual reality products and services. This move separates the unit’s results from its core business segment, which includes its flagship Facebook platform and other apps such as Instagram. The company said its investment in Facebook Reality Labs is expected to reduce overall operating profit in 2021 by about $ 10 billion.

Revenues in the third quarter reached $ 29.01 billion, up 35% from the year-ago quarter, but below the $ 29.56 billion expected by FactSet polled analysts. This is the smallest increase since the fourth quarter of last year, well below the 52% in the first half of this year.

Advertising revenue fell slightly from the second quarter, including the largest complex market segments, the United States and Canada. European sales also declined from the previous quarter.

Facebook warned in its July earnings report that changes in privacy for Apple’s iOS operating system could compromise ad targeting capabilities in the third quarter as more people update their iPhones and iPads.Last week’s snap Ltd

Apple’s policy has accused stock prices of falling by more than 20% as earnings growth is expected to slow this quarter.

Facebook’s third-quarter earnings were up 17% to $ 9.19 billion, or $ 3.22 per share. According to the company, the number of monthly users was 3.58 billion, an increase of 12% over the previous year.

Facebook’s share price rose more than 3% in after-hours trading on Monday after the end of a regular session. The company’s stock fell 5% last week after Snap reported an advertising issue related to Apple’s changes.

Michael Nathanson, an analyst at Moffett Nathanson, said: Social media companies start a busy week of earnings for tech giants. After the bell on Tuesday, Apple and Amazon.com will report quarterly results. Ltd

Numbers scheduled for Thursday. All are expected to achieve healthy top-line growth year-over-year as they continue to embrace the digital products and services offered by consumers and businesses.

According to Jeffreys analysts, global supply chain disruptions were expected to slow Facebook’s sales growth as vendors with limited inventories cut advertising costs. Still, the investment firm said digital advertising is powerful and new advertising products from Facebook’s Instagram service will be up and running to provide a new source of revenue.

Facebook said it expects revenue to grow from $ 31.5 billion to $ 34 billion this quarter, reflecting factors such as “Apple’s iOS 14 changes continue to headwind.”

Parents of Facebook, Instagram and WhatsApp have also tackled other challenges. This includes scrutiny of strict regulations in Washington and criticism of the company’s operations by its own supervisory board following a series of Wall Street Journal investigations called Facebook files.

Share your thoughts

What do you think about the current state of Facebook’s business? Join the conversation below.

Last week, UK competition regulators fined Facebook £ 50.5 million ($ 69.6 million worth) for violating reporting requirements while reviewing a proposal to acquire Giphy, an online provider of animated images. Facebook has separately agreed to pay a monetary penalty as part of its settlement with the US government. It accused social media companies of illegally booking lucrative jobs for migrant workers sponsored for permanent residence, instead of looking for and considering available US workers.

Facebook CEO Mark Zuckerberg has recently promoted his vision for the Metaverse. It is loosely defined as a broad future online world where people exist and interact in a shared virtual space through digital avatars. He recently described the Metaverse as the next generation of the Internet and the next chapter in his company. Facebook said last week it plans to create 10,000 jobs in Europe over the next five years to work on Metaverse-related efforts.

Zuckerberg emphasized the message in the company’s earnings report. “I’m particularly excited about the roadmap that helps build creators, commerce and the Metaverse,” he said. Facebook said it expects to increase its investment over the next few years. The company added that next year’s costs will be as much as $ 97 billion for technical staff, product staff, and infrastructure-related costs.

Sarah E. Needleman

By: Sarah E. Needleman

Source: Facebook slows sales growth with Apple’s privacy policy – Texas News Today

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Related Links:

Google Pushes to Overturn EU’s $5 Billion Antitrust Decision on Android

BRUSSELS— Alphabet Inc.’s GOOG -0.88% Google started its appeal Monday to overturn a $5 billion antitrust fine imposed by the European Union, contending that its Android operating system for mobile devices has boosted competition rather than foreclosing it.

The tech giant presented oral arguments in Luxembourg before the EU’s second-highest court, in its appeal to overturn the 2018 decision from the bloc’s antitrust enforcer. In that case, EU authorities found Google had illegally abused the market power of Android to push companies that manufacture and distribute Android phones into agreements aimed at entrenching and expanding the dominance of the Google search engine on mobile devices.

That decision was the largest of three antitrust fines totaling more than $9 billion that the EU has levied against Google in the past half decade. It also ordered changes to the distribution agreements buttressing one of the company’s biggest growth engines: search ads on mobile phones.

“Android has created more choice for everyone, not less,” a Google spokeswoman said. “This case isn’t supported by the facts or the law.”

A verdict isn’t expected for months, and it can be appealed to the EU’s top court, the Court of Justice. Still, the litigation is a new test for the EU’s competition and digital-policy chief, Margrethe Vestager, who already faces a pending appeal of an earlier decision against Google’s alleged abuse of the dominance of its search engine to favor its online-shopping ads.

Ms. Vestager has since opened a new antitrust probe into Google’s ad-tech business, along with a wave of cases exploring whether companies including Facebook Inc., Apple Inc. and Amazon.com Inc. abuse their dominance to drive out smaller rivals. The companies deny wrongdoing.

A spokeswoman for the European Commission, the bloc’s top antitrust regulator, declined to comment.

While the appeal is under way, Google has had to comply with the decision, offering all users of new Android phones in the EU a choice screen of alternative search engines. But so far Google’s market share for search on mobile phones has remained relatively stable, according to Statcounter.

At issue in the hearing this week is whether Google’s Android is indeed dominant, as European regulators argue, and whether Google’s distribution deals for the operating system and its Google Play app store for Android were anticompetitive.

The Commission has argued that Google used those agreements to block the rise of potential competitors and secure the dominance of its cash cow search engine on mobile phones—an outcome far from assured at the time.

The Commission found Google had abused its control of the Android operating system by forcing phone makers to pre-install Google Search and Google’s Chrome browser if they also wanted to include Google’s Play store for apps, by far the most common way to get Android apps.

The Commission also found Google’s so-called antifragmentation agreements—deals that discourage official Android manufacturers from selling devices that run unofficial, modified versions of Android—illegally blocked the development and emergence of competing operating systems.

“Instead of an antifragmentation agreement, it should be called an anticompetition agreement,” said Thomas Vinje, a lawyer representing FairSearch, a group representing Oracle Inc. and other companies whose 2013 complaint led the Commission to open a formal case investigating Android in 2015.

Apple and Google have one of Silicon Valley’s most famous rivalries, but behind the scenes they maintain a deal worth $8 billion to $12 billion a year according to a U.S. Department of Justice lawsuit. Here’s how they came to depend on each other. Photo illustration: Jaden Urbi

Google argues that those analyses are flawed. It says Android devices must compete with Apple’s iPhone and iPad, and the Commission was wrong to largely exclude them from its analysis. The company argues that its antifragmentation agreements are necessary to keep Android phones compatible with apps, and aren’t a barrier to creating competing operating systems.

Google also says the allegation that it blocked competing apps is false because manufacturers typically install many rival apps on Android devices, and consumers can easily download others. The company says it has a right to recoup the money it spends developing Android, which it makes available free to manufacturers, by encouraging them to install Google Search, from which the company makes the bulk of its revenue.

Google and the Commission will be joined in this week’s arguments by nearly a dozen outside companies and trade groups that have filed their own supporting briefs in the case. Google’s supporters include the Computer & Communications Industry Association and two handset manufacturers.

Arguments on the Commission’s side will include some from German publisher groups and complainants in the case, including FairSearch.

By: Sam Schechner at sam.schechner@wsj.com and Daniel Michaels at daniel.michaels@wsj.com

Source: Google Pushes to Overturn EU’s $5 Billion Antitrust Decision on Android – WSJ

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Related Contents:

Why Your Return to the Office Requires Two Workplace Safety Policies

Operating amid the pandemic has entered a new phase of difficulty–particularly for employers of both vaccinated and unvaccinated workers. Shortly after the CDC updated its guidelines on May 13, noting that vaccinated individuals no longer needed to wear facemasks indoors, the Occupational Safety and Health Administration (OSHA), a federal agency that oversees workplace health and safety, updated its Covid-19 guidance.

On June 26, OSHA updated guidance in compliance with the CDC to help employers protect workers who are still not vaccinated, with a special emphasis on industries with prolonged close-contacts such as meat processing, manufacturing, seafood, and grocery and high-volume retail. The guidance includes protocols for social distancing, mask wearing, and other health procedures meant to keep both parties safe.

Considering that just 52 percent of the U.S. population is fully vaccinated against the coronavirus, chances are some of your employees have yet to get a jab. That means if you’re planning a return to the office, you’ll also need to create two separate workplace health policies.

These policies will be different from business to business, depending on the level of community spread in a given location and the level of contact employees have with the public. But acting is a must, says David Barron, labor and employment attorney at Cozen O’Connor. Failing to address a stratified workplace–or even just relying on the honor system–could lead to legal trouble, a loss of morale, turnover, and employees falling sick.

Founders like Dominique Kemps aren’t taking any chances. Her business, GlassExpertsFL, a commercial glass repair company, is located in Miami. Florida overall has been particularly hard hit by the Delta variant, a more contagious strain of the coronavirus. Daily, about 10 in 100,000 people are contracting the coronavirus by way of the Delta variant. As of July 2, only 46 percent of the population of Florida was fully vaccinated, according to the CDC.

Kemps has devised two separate physical workspaces: one for vaccinated employees and another for those who remain unvaccinated. Also for unvaccinated employees, meetings are held virtually, while vaccinated employees can wear a mask and attend if desired. Vaccinated employees can also eat lunch together, while Kemps has asked unvaccinated employees to eat in a designated area. “Frankly,” she says, “it hasn’t been easy.”

Here’s how to ease the transition:

1. Request vaccination information.

Before you make any decisions regarding which policies to enact, first ask and keep track of who is vaccinated and who isn’t, says Dr. Shantanu Nundy, chief medical officer at Accolade, a benefit provider for health care workers. An employer can request a copy of an employee’s vaccination card or other proof, which should help you determine how much of your workforce falls under one policy or another.

If you opt to review vaccination information, note that anything you collect must be considered confidential information that has to be kept private in files that are separate from personnel files. A failure to do so may result in anti-discrimination violations under the Americans With Disabilities Act and the Genetic Information Nondiscrimination Act, two laws that protect workers from health status discrimination.

2. Overcommunicate any policy changes.

It’s also crucial to communicate any change in policy openly. Robert Johnson, founder of Sawinery, a Windsor, Connecticut-based creator of woodworking projects, divided workers into two shifts, the first for vaccinated individuals, and another for unvaccinated workers. He’s made it clear to his staff that he’s waiting until everyone is vaccinated before returning to the original schedule.

“The structure won’t compromise anyone’s safety and everyone can work without any worries in mind,” says Johnson.

3. Stay flexible.

If anything has been true about the pandemic, it’s that things can change rapidly. As such, Nundy recommends clarifying that policies are flexible and may be subject to change. Some unvaccinated folks may want to leave if they feel they’re being treated differently, such as not being allowed into the office. Some smart wording can easily allay these concerns, he says. Instead of telling unvaccinated employees that they’re not welcome in the office again, make it clear that the policies are temporary–if that’s the case, of course–and that you’re open to feedback, adds Nundy.

The occupational safety and health policy defines the goals for the occupational health and safety work in the workplace and for activities that promote the working capacity of the staff. The policy also describes occupational health and safety responsibilities and the way of organizing the cooperation measures. The preparation of the occupational safety and health policy is based on the Occupational Safety and Health Act. The policy is employer-specific and applies to all employers.

By: Brit Morse, Assistant editor, Inc.@britnmorse

Source: Why Your Return to the Office Requires Two Workplace Safety Policies | Inc.com

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Critics:

Workplace wellness is any workplace health promotion activity or organizational policy designed to support healthy behavior in the workplace and to improve health outcomes. Known as ‘corporate wellbeing’ outside the US, workplace wellness often comprises activities such as health education, medical screenings, weight management programs, on-site fitness programs or facilities.

Workplace wellness programs can be categorized as primary, secondary, or tertiary prevention efforts, or an employer can implement programs that have elements of multiple types of prevention. Primary prevention programs usually target a fairly healthy employee population, and encourage them to more frequently engage in health behaviors that will encourage ongoing good health (such as stress management, exercise and healthy eating).

Secondary prevention programs are targeted at reducing behavior that is considered a risk factor for poor health (such as smoking cessation programs and screenings for high blood pressure). Tertiary health programs address existing health problems (for example, by encouraging employees to better adhere to specific medication or self-managed care guidelines).

References:

Morrisons Shares Surge As Investors Bet On Low U.K. Supermarket Valuations

Morrisons, CD&R. Tesco, Sainsbury's, Asda

Shares in U.K. publicly-listed supermarket chain Morrisons surged by almost a third in morning trading today, after Britain’s fourth biggest grocer rebuffed a $7.6 billion takeover from U.S. private equity giant Clayton, Dubilier & Rice.

The huge spike in its valuation was prompted by emerging news over the weekend that Morrisons had become a takeover target for CD&R, potentially sparking a bidding war for the grocer.

The news prompted shares to rise across the grocery sector, as investors bet that other supermarket groups could become targets for private equity investors or that a bidding battle could erupt, with online giant Amazon AMZN -0.9% – which has an online delivery deal with Morrisons – one possible bidder for its partner.

American private equity firms Lone Star and Apollo Global Management APO +1.9% have also been mentioned as possible suitors for Morrisons, which has been battling with a declining market share, now down at 10%, from 10.6% five years ago. There is a sense that the U.K. supermarket sector could be ripe for more potential takeovers. The share price performance of the entire sector is seen as under-performing compared with U.S. grocers, for example, despite being profitable and achieving typical dividend yields of around 4%.

CD&R has history, having previously made investments in the discount U.K. store chain B&M, from which it made more than $1.4 billion.

Morrisons Rebuffs Bid But More Could Follow

Morrisons first announced on Saturday that it had turned down a preliminary bid by Clayton, Dubilier & Rice, which is believed to have been made on or around 14 June. The Bradford-based company said that its board had “unanimously concluded that the conditional proposal significantly undervalued Morrisons and its future prospects”.

CD&R had offered to pay nearly 320c a share in cash, while Morrisons’ share price closed at 247c on Friday, before its surge today as trading reopened for the first time since the announcement.

The New York-headquartered private equity firm has until 17 July to make a firm offer and to persuade a reluctant Morrisons management team to recommend that shareholders agree to the deal.

Sir Terry Leahy, a former Tesco chief executive, is a senior adviser for CD&R and, like its market-leading rival Tesco, Morrisons’ shares have been trading below their pre-pandemic levels as higher costs due to operating throughout the pandemic have taken their toll despite booming sales at essential stores across the U.K.

Morrisons currently employs 121,000 people and made a pre-pandemic profit of $565.5 million in 2019, which plunged to $278.6 million in 2020. It owns the freehold for 85% of its 497 stores. One-quarter of what it sells comes from its own supply chain of fresh food manufacturers, bakeries and farms.

CD&R has so far declined to comment on whether it will return with a higher bid, but analysts believe its approach is probably just the first salvo.

Previously, former Walmart WMT +0.9%-owned Asda was snapped up by the U.K.’s forecourt billionaire Issa brothers along with private equity firm TDR Capital in a debt-based $9.4 billion buyout. Likewise, CD&R could adopt a similar model and combine Morrisons, which has just a handful of convenience stores after a number of limited trials of smaller store formats, with its Motor Fuel Group of 900 gas stations.

There are also wider political concerns that it could emulate the Issas by saddling Morrisons with debt and selling off its real estate assets and CD&R is understood to be weighing political reaction before determining whether or not to come back with a higher bid.

Supermarket Takeovers More Likely Than Mergers

For tightly-regulated U.K. competition reasons, takeovers or mergers between supermarket groups appear increasingly complex. The competition watchdog blocked a proposed $9.7 billion takeover by Sainsbury’s for rival Asda two years ago, determining that the deal threatened to increase prices and reduce choice and quality.

However, comparatively relaxed rules on private equity bids mean few such restrictions apply to takeovers. Private equity firms have acquired more U.K. firms over the past 18 months than at any time since the financial crisis, according to data from Dealogic, and Czech business mogul Daniel Křetínský has established a 10% stake in Sainsbury’s, the U.K.’s second biggest supermarket chain. Having failed in an attempt to take over Germany’s Metro Group last year, he could yet make an offer for a British grocer.

AJ Bell investment director Russ Mould added in an investor note this morning that Morrisons’ balance sheet looks highly attractive, in particular to a private equity firm looking to sell business assets to release cash.

“Morrisons’ balance sheet has plenty of asset backing and the valuation was relatively depressed before news of private equity interest,” he said. “The market value of the business had weakened so much that it clearly triggered some alerts in the private equity space to say the value on offer was looking much more attractive.”

Follow me on Twitter or LinkedIn. Check out my website.

I am a global retail and real estate expert who looks behind the headlines to figure out what makes consumers tick. I work as editor-in-chief for MAPIC and editor for World Retail Congress, two of the biggest annual international retail business events.  I also organise, speak at, and chair conferences all over the world, with a focus on how people are changing and what that means for the retail, food & beverage, and leisure industries. And it’s complicated! Forget the tired mantra that online killed the store and remember instead that retail has always been dog-eat-dog: star names rise and fall fast, and only retailers that embrace the madness will survive. Don’t think it’s not important, your pension funds own those malls!

Source: Morrisons Shares Surge As Investors Bet On Low U.K. Supermarket Valuations

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Critics:

Wm Morrison Supermarkets plc (Morrisons) (LSEMRW) is the fourth biggest supermarket in the United Kingdom. Its main offices are in Bradford, West Yorkshire, England.The company is usually called Morrisons. In 2008, Sir Ken Morrison left the company. Dalton Philips is the current head. The old CEO was Marc Bolland, who left to become CEO of Marks & Spencer.

As of September 2009, Morrisons has 455 shops in the United Kingdom. On 15 March 2007, Morrisons said that it would stop its old branding and go for a more modern brand image. Their lower price brand, Bettabuy, was also changed to a more modern brand called the Morrisons Value. This brand was then changed again in 2012 as Morrisons started their low price option brand called M Savers.

In 2005 Morrisons bought part of the old Rathbones Bakeries for £15.5 million which make Rathbones and Morrisons bread. In 2011, Morrisons opened a new 767,500 square/foot centre in Bridgwater for a £11 million redevelopment project. This project also made 200 new jobs.

References:

  1. “Morrisons Distribution Centre Preview”. Bridgwater Mercury. Retrieved 6 July 2012. This short article about the United Kingdom can be made longer. You can help Wikipedia by adding to it.
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