World’s Largest Organizations Lose 10 Percent of Profits Per Year Due to Complexity: Global Simplicity Index
DUBAI, United Arab Emirates – 4 June 2015 – Middle East organizations must tackle complexity in their operations to avoid losing potentially 10 percent of their profits, SAP urged today in advance of the Internet of Things Expo (IoTX) and Big Data Show.
In the emerging Digital Economy, IDC predicts global smart objects will increase from 2 billion in 2006 to 200 billion by 2020. These inter-connections could unlock a value at stake of USD 14.4 trillion, according to a report by Stephenson Strategies and SAP.
However, due to complexity, 200 of the world’s largest companies lose 10.2 percent of their profit, or USD 1.2 billion per company per year for an annual total of USD 237 billion, according to the Global Simplicity Index.
“Middle East organizations are being held back from capturing the Internet of Things value due to complex processes such as scattered information, slower batch processing of data, and technical limitations,” Hannes Liebe, COO, SAP MENA. “IoTX and the Big Data Show are ideal platforms for Middle East organizations to learn how real-time Big Data analysis can simplify processes, and become more agile, efficient, and productive.”
SAP will showcase the power of Big Data, cloud, and mobile solutions in demonstrations of the Smart City of the near future, the recently-released SAP SportsOne solution with connected football, and a smart vending machine.
Irfan Khan, Chief Technology Officer, SAP GCO, and Prof. Dr. Gerard Krause, Head of Department Epidemiology, Helmholtz Centre for Infection Research, will deliver a keynote address on how Big Data helps to fight infectious diseases. Additional SAP MENA experts Pedro Pereira and Paramjeet Sachdev will also present.