Been reading Mayer-Schonenberger and Cukier’s
book, Big Data (2013) and one of their examples is
interesting to retell. In 2007 manhole cover explosions
occurred all over the NY City, were random and at 300 pounds
present more than a nuisance to citizens. What would be
a cost effective way to reduce this public hazard. Columbia
researchers did a big data study on the 51000 units and predicted
which ones were likely to explode through the following year.
They determined 44 per cent of the ones that actually occurred.
While the authors and others have pointed out knowing now what
they know it was fairly obvious, it nonetheless pointed out the
power of correlational statistical tools on even messy data.
Searching for positions- Look for correlations.
Using similar shot-gun approach, we can look at industries’ and
companies’ recent employment records and short term
development expenditures as clues. They are revealed in
C&ENews (7-1-2013, p. 25-40) So, we can see natural
gas industries and specialty chemical firms sustaining
TURN AROUND SITUATIONS
In the global market place, there are ups and downs that
happen despite everyone’s best efforts due to various
influences. The C&ENews issue two weeks later reported
how private equity firms are negotiating favorable
purchases and developing profitable business ventures
under new management. I am somewhat familiar with
some of the buy-outs and encouraged that with new
management, by meeting customer demands and
expectations, the new units are doing reasonably well.
[Ref: M. Bomgardner, C&EN 7-15-2013, p. 16
Business conditions are also changing and could be
influencing developments like this. It could also signal
the emergence of “tour of duty” employment models.
START-UPS LEADING TO SMALL BUSINESSES OR
LONGER TERM GROWTH
In a sentence, small enterprises seek to “turn a profit”
or “grow into something big”. The industry, the plan
and financial viability dominate.
Ask about the “scaling plan”. Explore if there is a viable
market and repeatability of sales (duplicating orders or
continually expanding customer base). While a start-up
may not have all the answers, if someone is asking the
question, it is a positive sign.