Last week in New York, the Bloomberg Link Enterprise Technology Summit brought together senior technology executives from the public and private sector, many with experience with the financial services industry. The one-day event hosted discussions about optimizing the network, leveraging the cloud, high frequency trading and of increasing interest, how to find patterns and trends in ‘big data’.
Given the rapid changes in the tech industry over the last few years, these topics are as critical as ever. Scott Miller, COO of Bloomberg’s Enterprise Products and Solutions business, opened the afternoon session by saying, “Technology professionals are examining every aspect of company operations to drive down costs and enhance performance. A new emphasis on workflow integration, globalization, driving down latency and moving to the cloud has led firms to explore and adopt new policies.”
One thing enterprise IT professionals appear to be embracing is open source software and open hardware standards such as those offered by the Open Compute Project. “If you adopt open compute in an aggressive way, the benefits will likely be higher, but no one has benefit of ripping and replacing infrastructure right away” said Anand Srinivasan, a Bloomberg Industries analyst. “It has to happen gradually.”
Scott Miller said in his remarks that “Open” was a key theme for Bloomberg as well, ‘Bloomberg is committed to being Open, [which means] breaking down transactional barriers and helping our clients maximize interoperability, efficiency, and flexibility in responding to the relentless ‘more for less’ market pressures,” Scott added.