Big Data is a topic set to make one of the most profound influences on our lives…We have witnessed several waves of change in the IT landscape: mainframe, mini-computers, PC/microprocessors, client servers, cloud computing and now– Big Data. Though I am sure that most of you are familiar with the term, Big Data relates to the process of capturing and analyzing large amounts of data to uncover hidden patterns, unknown correlations and other useful information. The results are tremendously influential, not only to businesses but also to our society, as I will uncover.
The difference between traditional analytics (which have been around for years) and Big Data lies in three key areas: data volume, data type and processing speed.
Whether your company is raising money or positioning for a sale, the support of experienced professionals is essential and the relationship with your lawyer is a very important one. Before you spend a significant amount of money and energy pursuing your financing or some other deal, it is crucial that you establish a solid legal foundation that protects your business, technology and processes.
Selecting a law firm can be a daunting task…typical advice ranges from choosing the right sized law firm (to ensure a cultural fit, and to receive the right level of attention), to finding a firm that is local (close enough to give you the opportunity to establish a closer relationship with your lawyer, which facilitates their understanding of your business, leading to an improved level of service) to avoiding big law offices (so that you don’t end up financing part of their huge overhead, via higher hourly rates).
But beyond this basic advice, if I am either starting a company or am part of a small cap public company, I am looking for a two-fer (“two for one’). In other words, beyond a law firm, I would also seek a strategic partner. So my two-fer criteria would be the following for selecting a law firm:
- Legal: ethical, right sized, cultural fit, entrepreneurial minded, local, fair fee structure
- Strategic: highly connected (introductions to top-class advisors, board members, angels, entrepreneurs) and relevant industry business experience
They say that the simple things in life are often those that get forgotten or overlooked, and this statement could not be any truer for a customer-centric culture.
Regardless of the type of business that you are in, your business’ primary goal is to offer a product or service to a set of customers, right? The more focus your company has on your customers and prospects, the greater understanding and knowledge that you will acquire about them, which should translate in developing the most accurate, appropriate and valuable offering for them. In turn, this should lead to strong sales, high customer satisfaction and recurring business.