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Day: April 17, 2018

Do You Work for Money or Send Money to Work for You

Unless you were lucky enough to be born into a family that has a large amount of money, then chances are you will have to work for money at some point in your life. You will earn a salary or hourly wage and you will use that money to pay your way in the world. But ever, you will want to stop working and enjoy a retirement age. And if you have been wise and put your money to work for you, then you can often reach that time of relaxation much earlier.

Of course, not every situation is the same. Some people may have specific goals for which they are saving in addition to their basic retirement expenses, such as sending a child to college or buying a second vacation home. You may have a pension from your work, or you may be on your own when it comes to retirement expenses. Taking into consideration the fact that life expectancies are increasing all the time, and you may find yourself needing to plan for a greater period of time than you may think. So having your money start to work for you at an early age will pay out more and for a longer period of time in your future.

How is this so? Well, in part, as we discussed in the 'Get Rich Slowly' article, investing your money allows you to stay ahead of the depreciation of money's value and earn some return on your investment as well. But there is also the fact that interest compounds over time, adding to your earnings without you having to lift a finger. As an example, let's say that you were to invest $ 1.00 today and the annual interest rate or rate of return of the investment is 8{4917788a0bd7aa7369c2a945027b4fe6c9853cda4150a24fe1255b18ce3083dc}. That means that in one year, you will have $ 1.08 in the account. If you leave that money where it is, at the end of the year you will have earned interest on not only your original $ 1.00, but on the previous year's interest as well, giving you about $ 1.17. This compound interest will continue, year after year. But imagine that instead of $ 1.00, it's $ 100, $ 1,000 or even $ 10,000 that you start with and you can see the value over time.

Of course, this is only one possible way to invest. Most of us do not have $ 10,000 to invest from day one. Instead, we will be building our savings over time. We may start with $ 100 a month, added each month over the years. You can still reach a significant savings, but it will simply take more of your own money to get there. This is called an 'accumulation annuity,' and you can use calculation tables available from your investment broker, bank or online to figure out exactly how much money you will need to invest regularly in order to reach your goal. But to give you an idea; if …

How Secure Is Your Business Data?

As technology evolves, we are continuing to become reliant on mass amounts of data to forge ahead, but how is all that data managed and is it secure? What people in your company are managing all of this important data and do they have too much access?

The Growth of Data

The world's information is doubling every 2 years with 1.8 Zettabytes in 2011 alone. Corporate data continues to grow at a rate of 60{4917788a0bd7aa7369c2a945027b4fe6c9853cda4150a24fe1255b18ce3083dc} per year.
In the corporate world, data is a big deal yet only 17{4917788a0bd7aa7369c2a945027b4fe6c9853cda4150a24fe1255b18ce3083dc} of companies use 75{4917788a0bd7aa7369c2a945027b4fe6c9853cda4150a24fe1255b18ce3083dc} or more of the data they collect. This, 74{4917788a0bd7aa7369c2a945027b4fe6c9853cda4150a24fe1255b18ce3083dc} of companies feel that it is "extremely valuable" to achieve a competitive advantage.

Who Is Using This Data, and Do They Know How?

Companies may have a lot of data, but they struggle from poor organization, a poor process for sharing and lack of effective policies to secure the data.
• In 60{4917788a0bd7aa7369c2a945027b4fe6c9853cda4150a24fe1255b18ce3083dc} of companies data is an executive level responsibility.
• Less than 20{4917788a0bd7aa7369c2a945027b4fe6c9853cda4150a24fe1255b18ce3083dc} of IT managers are responsible for their company's data strategy.
• For 73{4917788a0bd7aa7369c2a945027b4fe6c9853cda4150a24fe1255b18ce3083dc} of companies, it makes a contribution to competitive intelligence.
• 59{4917788a0bd7aa7369c2a945027b4fe6c9853cda4150a24fe1255b18ce3083dc} of big businesses believe that improving corporate data sharing efforts and security have given them a competitive advantage.

Using loyalty card data (which has 16 million active members in Britain) took Tesco's market share from 20{4917788a0bd7aa7369c2a945027b4fe6c9853cda4150a24fe1255b18ce3083dc} to 30{4917788a0bd7aa7369c2a945027b4fe6c9853cda4150a24fe1255b18ce3083dc} in one year.

The Victims of Big Data

While data can help a company gain great success, security is a major concern. In fact, 75{4917788a0bd7aa7369c2a945027b4fe6c9853cda4150a24fe1255b18ce3083dc} of companies have experienced a break in the last 2 years! These joints have made it harder for executives to use data to their advantage.
• 28{4917788a0bd7aa7369c2a945027b4fe6c9853cda4150a24fe1255b18ce3083dc} of executives feel that data is bottlenecked after a security break.
• On average, a data bread costs a business £ 3.47 million.
• The business of managing and securing company data will grow from £ 252.7 million in 2012 to £ 631.67 million in 2016.

Secure Your Business Data

Securing your business data is a must, because data is going to continue to be a competitive backbone for companies around the world. The two main steps your company can take with regard to business data security are making sure your users understand security, and above all, the need to ensure that your hardware and applications are always up to date with the latest firmware and software patches and upgrades. Statistically, if you do this, you will be safe from more than 90{4917788a0bd7aa7369c2a945027b4fe6c9853cda4150a24fe1255b18ce3083dc} of external security attacks. If you start from a strong security foundation, then maintaining and improving that place will be much easier. Where security is concerned, never hesitate to seek advice, whether from your colleagues, peers, publications or professionals. …