Business and a Leap of Faith - Part 1

Posted by admin 16/10/2019 0 Comment(s)

Thousands of companies make decisions every day on where and how to deploy new features of their operations and sometimes are lucky enough to explore totally new ventures. Usually, Solitaire Interglobal Ltd. (SIL) is involved in this type of decision-making only in modeling the opportunity, risk, and cost of proposed solutions.

In early 2018, however, SIL found itself in a different position. Intellectual capital that had been developed over the last several decades coalesced with market opportunity, and SIL’s internal analysts identified a possible new, disruptive technology that SIL was uniquely positioned to deploy.

The decision was made to investigate this using SIL’s normal processes. In the first step, opportunity and risk projects are always analyzed against a tremendously large, multi-petabyte database. This allows weaknesses and strengths to be quantified and supported.

Additionally, since SIL has been running Global Security Watch for more than 23 years, exhaustive business risk information was available to mine for crucial nuggets of information. The resulting data on security, financial impact, longevity, and broad risk allowed SIL to evaluate the opportunity.

With extensive supporting detail, SIL’s strategic committee came to a quick decision to proceed and attacked the next step of critical thinking.

This next step was the establishment of the criteria. The individual metrics clustered in four primary areas.

  • Security
  • Platform Feasibility
  • Financial Costs
  • Risk

It is not surprising that this list looks like a summary of many articles that are written today about doing business over the Internet. The number one area is security for most digital marketplace organizations. This goal encompasses the safeguard of uninterrupted business operations and exclusive control of proprietary digital assets.

Only after that primary requirement is assured our metrics for feasibility, finances, and general risk pertinent.

In the process of choosing a safe and scalable environment, SIL experienced firsthand what thousands of their clients have been living each day. It was an exercise in empathy for many of SIL’s analysts, with remote analysis colliding with practical business considerations.

The resulting guidelines and best practices that were derived from both the extensive analytics and SIL’s business experience have been used to construct a multipart case study that hopefully will provide some guidance and other organizations search for a secure, efficient, and effective platform for deployment.

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