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SEIN presents to Council of IT Executives at MIT


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Fall 2013 SEIN Analytics was invited to present to the Canadian Conference Board’s Council of IT Professionals at MIT in Cambridge, MA. In a detailed presentation, we explained the company’s value proposition and described in-depth our experience building the Sein platform. The talk focused on issues many IT executives face when developing applications in the cloud.

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SEIN presents to Council of IT Executives at MIT

  1. 1. Providing vital visibility and analysis for smarter investment decisions Samuel Belu-John, CEO & Founder Anne Clark, Co-Founder
  2. 2. ACCOMPLISHMENTS INVESTOR FRUSTRATION Difficult to manage and integrate vendors COMPLICATED SOLUTIONS No easy way to bring analytics and data together CHANGING MARKET Push for greater disclosure and transparency
  3. 3. SOLUTION SEIN ANSWERS CUSTOMER NEEDS “…bring data and analytics together in a meaningful way to drive effective and controlled investment decisions… – Douglas Long, EVP Business Strategy, Principia Partners “
  4. 4. COMPETITION Existing solutions require on-premise Online Application Processing (OLAP) model. o Dependency on IT o Poor computational capabilities o Require pre-modeling
  5. 5. PRODUCT o Reduced IT dependency o Strong computational capabilities o No pre-modeling SEIN is built on a proven, scalable and secure enterprise framework and a virtualized datacenter
  6. 6. MARKET SEGMENTS SEIN provides a single solution to the entire ecosystem
  8. 8. BUSINESS MODEL GO-TO MARKET o 2 confirmed beta customers to participate in pilot program o Expand pilot to include 5 customers o Hire Head of Sales with existing relationships o Develop strategic partnership with other finance companies, for example Open Gamma, who have the same customer base
  9. 9. 5 YEAR PLAN YEAR 1 o Launch beta, test and sign contracts with paying customers o Raise $1.5 million to fund development YEAR 5 o Revenue of $65 million with around 200 customers o Be considered the “standard” in the industry o Merge with larger financial software vendor $78,000 $68,000 $58,000 $48,000 $38,000 $28,000 $18,000 $8,000 (-$2,000) 2013 2014 2015 2016 2017 Revenues Gross Income Profit 3–21 customers 21–91 customers 21–158 customers 158–229 customers AllFiguresinThousandsofDollars
  10. 10. ACCOMPLISHMENTS PRESS o Jan 2012: SEIN wins Grand Prize at the Google sponsored Gigabit Challenge and wins $100K o Jan 2012: Profiled on TechCrunch and the San Francisco Chronicle o Jun 2012: Received our certificate of registration and presented at Innotribe Belfast as a Semi-Finalist o Nov 2012: Raised $80K+ with McKinsey & Company contracts to fund beta development o May 2013: Participate in MassChallenge accelerator program in Boston o Aug 2013: Closed friends and family funding round for $60K o Sep 2013: David Smilow, founder of E*trade, joins SEIN’s board with 2 confirmed beta customers o Sep 2013: Fannie & Freddie data added to application, enabling us to cover 50 million mortgages o Sep 2013: Invited to participate in IBM’s Global Entrepreneur program o Oct 2013: Presenting at the Canadian Conference Board’s Council of IT Professionals at MIT
  11. 11. MANAGEMENT TEAM Samuel Belu-John, CEO & Founder 15 years experience as an ABS Portfolio Manger for hedge funds including NewStar Financial, Jefferson National Financial and positions at Barclay’s, Credit Suisse and Moody’s. Anne Clark, Co-Founder & Head of Product Development Expert in designing user experiences and applications for a diverse group of clients in the finance and technology industries including Fidelity, Bank of America Merrill Lynch, Samsung and Microsoft. David Smilow, Advisor Former MD at Goldman Sachs, Founder of E*Trade and Founder of Jefferson National Insurance. He will lead our sales efforts once we finalize his role as Chairman of the Board. Maurice Kherlakian, Zend Technologies Developer Experienced developer with Zend, the leading PHP open source framework provider.
  12. 12. 12 CLOUD APPLICATION DEVELOPMENT 1. DISCOVER PROBLEM o Identify project requirements, systems and people o Modernize existing middleware by decoupling domain space model to improve agility o Develop integration strategies to bridge gap between data and analytics to solve customer needs 2. DEFINE SOLUTION o Friction-free deployment o No machines or middleware to manage o High productivity framework o Cloud portability 3. DEVELOPMENT PROCESS o Choosing a Provider & Operating System o Virtual Machine Set-up o Data Warehouse Considerations o Documentation o Development Tools o Source Control o Workflow
  13. 13. OUR PROCESS CURRENT: $280/MONTH (AWS) PILOT PROGRAM: $2,000/MONTH (SoftLayer/RightScale) SEIN is a scalable, event driven platform built on an open architecture
  14. 14. 14 CHOOSING A PROVIDER TRUST Common principles and connection with a provider EXPERTISE Proficienct technology and an understanding of your business COMPLIANCE Verify a provider's capabilities with a compliance audit
  15. 15. 15 CHOOSING A PROVIDER COST REDUCTIONS / OPTIMIZATIONCOST REDUCTIONS / OPTIMIZATIONCOST REDUCTIONS / OPTIMIZATION * PROVIDERS PRICING PLANS AVERAGE MONTLY PRICE COST OF DATA TRANSFER/GB Amazon Ec2 Pay-as-you-go, reserved, spot $66.43 $0.12 Rackspace Pay-as-you-go $116.8 $0.12 GoGrid Pay-as-you-go, monthly, semester, year $116.8 $0.12 Microsoft Azure Pay-as-you-go, semester, year $65.7 $0.155 Terremark Pay-as-you-go $138.9 $0.17 AT&T Pay-as-you-go $121.3 $0.1 Google Pay-as-you-go $42.42 $0.12 OpSource Pay-as-you-go, monthly $95.63 $0.15 Softlayer Pay-as-you-go, monthly $182.5 $0.1 HP Pay-as-you-go $87.6 $0.12 * Source, Top Cloud PaaS Providers Compared by Thoran Rodrigues* Source, Top Cloud PaaS Providers Compared by Thoran Rodrigues
  16. 16. 16 CHOOSING A PROVIDER SECURITY FEATURESSECURITY FEATURESSECURITY FEATURESSECURITY FEATURES EASE OF MIGRATIONEASE OF MIGRATION PROVIDERS CERTIFICATION PROTECTION MONITORING STANDARDS VM UPLOAD Amazon Ec2 Yes Medium Extensive Proprietary Yes Rackspace Yes Medium Extensive OpenStack No GoGrid No Medium Poor Proprietary No Microsoft Azure Yes Medium Average HyperV Yes Terremark Yes Medium Poor VMware Yes AT&T Yes Medium Poor VMware Yes Google Yes Medium Poor Proprietary No OpSource Yes Medium Average VMware Yes Softlayer Yes Medium Extensive OpenStack No HP No Medium Poor OpenStack No * Source, Top Cloud IaaS Providers Compared by Thoran Rodrigues* Source, Top Cloud IaaS Providers Compared by Thoran Rodrigues* Source, Top Cloud IaaS Providers Compared by Thoran Rodrigues* Source, Top Cloud IaaS Providers Compared by Thoran Rodrigues* Source, Top Cloud IaaS Providers Compared by Thoran Rodrigues* Source, Top Cloud IaaS Providers Compared by Thoran Rodrigues
  17. 17. 17 CHOOSING AN OPERATING SYSTEM Operating systems and middleware that form the basis of PaaS o Windows is growing at 3.2% while Linux is growing at 12.7% annually o 76% of enterprises with investment in virtualization use Linux o Linux has a large and growing community of developers
  18. 18. 18 VIRTUAL MACHINE SET-UP Golden Master: o Consistency across cloud infrastructure o Utilize cloud admin to deploy libraries and packages o Requires minimal effort from end-user Custom VM: o User has ability to customize the VM - Chef or Puppet config tools GOLDEN MASTER VERSUS CUSTOM VM
  19. 19. 19 VIRTUAL MACHINE SET-UP o Migrating to RightScale cloud management o Utilizing built-in-best practices for boot, operational and shutdown of VM o Consistency => Efficiency => Quicker Updates => Client Specific Customization
  20. 20. 20 DATA WAREHOUSE CONSIDERATIONS CLOUD DATABASE SPECTRUM: From Self-Service to DBaaS User Responsible For: o Maintenance o Backup o Failover o Security o DBMS Install o Load Balancer o DBMS Configure o DBMS Automation o DBMS Monitoring User Responsible For: o Defining application needs for Quality of Service o Defining budget
  21. 21. DOCUMENTATION KEEP TRACK OF EVERYTHING 21 MEETING NOTES DESIGN CHANGES ARCHITECTURE DECISIONS BUSINESS LOGIC OPTIONS o Evernote o Google Keep o Within Code Class: - Dockblocks: business logic description - Ticket System - Source control comments
  22. 22. 22 DEVELOPMENT TOOLS APPLICATION DEVELOPMENT: See Adam Culp’s full discussion on Clean Application Development at: SELECT IDE USE FRAMEWORK DEBUGGING TOOLS o PHPStorm o Eclipse o Pycharm Forcing developers to all use the same OS leads to problems o Vagrant o Puppet o Chef All in one cloud management. USE VM MACHINE o Keeps code light o Avoid proprietary framework o Existing frameworks have large developer communities o Fiddler o Zend Server o XHProf o XDebug
  23. 23. 23 SOURCE CONTROL BENEFITS TRACK CHANGES KEEP HISTORY SECURE CODE MULTIPLE DEVELOPERS OPTIONS o CVS: Grandfather of version control o GIT: Fast-rising star, has taken open source community by storm o SVN: Widest adaption - used by Google Code, SourceForge, Apache, Python and Ruby o Mercurial o Bazaar o LibreSource
  24. 24. 24 WORKFLOW TO EVOLVE AND ADAPT, REFACTOR o What’s easy to change in the business model should be easy to change in your architecture o Integrate open source solutions o Accenture Survey of 300 large organizations found: o 50% are fully committed to open source in their business o 38% expect to migrate mission- critical applications to open source