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$5.16M in Business Value Per Company - IDC Report
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IDC released The Business Value of Sumo Logic report, detailing the value and savings in DevOps, SecOps, and IT.
The stats above are just the tip of the iceberg. Check out the full report to learn about business value and benefits org-wide.
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Reminder: Webinar on US Expansion - Register Now!
Reminder: Webinar on US Expansion - Register Now!
Just a friendly reminder about our upcoming webinar:
Unlocking the US - Simplifying Stateside Expansion
Date: Wednesday, July 10th
Time: 3 p.m. UTC / 5 p.m. CET / 11 a.m. EST
Duration: 45minThis is your chance to hear directly from experts at Remote, Sequoia One, and Mosey. In just 45 minutes, you’ll gain actionable insights and battle-tested strategies to ensure your expansion into the US market is nothing short of triumphant.
What you'll learn:
- Best practices for US payroll management
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- How to choose between PEO and EOR models
- Insider tips and success stories
Don't miss out! Save your spot now to ensure you don’t miss these valuable insights.
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New Relic integrates with NVIDIA NIM to accelerate AI adoption and ROI
New Relic
June 2024
How to monitor AI applications built with NVIDIA NIM New Relic and NVIDIA released the first observability integration making it easy for companies to monitor the health and performance of their AI applications built with NVIDIA NIM.Read the blog 
Click-to-parse is now generally availableAnnouncing our new click-to-parse functionality in log management.
How New Relic helps Closegap move from DevOps to new buildsClosegap moves from a Rails API and React frontend to a full stack Rails and Hotwire approach to support a more events-based architecture.
Useful Reads
Mobile APM: Android and iOS monitoringElevate your user experience with real-time data insights for mobile applications.
Measuring business success with observability metricsObservability isn't merely about keeping systems up and running; it's about gaining insights that drive business success. This blog post delves into how observability metrics, beyond their technical merits, can be powerful tools for measuring and enhancing business performance.
Upcoming Events Join New Relic at WeAreDevelopers
Join us at booth A29 on the 18th and 19th of July to take your observability to the next level with live demonstrations and personalised advice from New Relic experts. See Jemiah Sius, Senior Director of Developer Relations on the main stage. Jemiah will talk about: Mastering AI-driven problem-solving in engineering with observability.
Register now New Relic University online workshops
Join one of our on demand New Relic online training workshops. These 90-minute trainer-led workshops with hands-on labs will help you up level your observability skills. Choose from a variety of sessions.Join now New Relic End-of-Life Updates
Support for PromQL (July 15)
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- You can still access Prometheus metrics and events, but will need to adopt NRQL as the method for querying Prometheus data.
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If you’re currently using PromQL-styled queries to query your data, you’ll need to adopt NRQL.
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Prometheus metrics data will still be accessible in New Relic.
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Data Explorer (September 30)
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- We’re unifying querying capabilities into a single experience to streamline how customers can access their data.
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If you want to use the data explorer tool, you’ll now find it under the query your data capability from https://one.newrelic.com > All capabilities.
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What can employers do to improve worker health?
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—Edited by Belinda Yu, editor, Atlanta
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by "Only McKinsey" <publishing@email.mckinsey.com> - 11:06 - 2 Jul 2024 -
Investment: Taking the pulse of European competitiveness
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by "McKinsey & Company" <publishing@email.mckinsey.com> - 05:07 - 2 Jul 2024 -
Help wanted: Charting the challenge of tight labor markets in advanced economies
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Help wanted: Charting the challenge of tight labor markets in advanced economies
Grow the supply-side pie 
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by "McKinsey & Company" <publishing@email.mckinsey.com> - 12:39 - 2 Jul 2024 -
Can organizations find the skilled-trade workers they need?
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Skilled-worker shortage. A yearslong shortage of skilled-trade workers in the US could mean that the country doesn’t have the workforce it needs to build highways, construct new housing, and specialize in areas critical for national security. That risks putting the country’s economic progress, and even its liberty, at stake, talent leaders Brooke Weddle and Bryan Hancock explain in a recent episode of the McKinsey Talks Talent podcast. Even though skilled-trade workers are in high demand and can earn good salaries, organizations are struggling to attract them and keep them in roles, Hancock observes.
—Edited by Belinda Yu, editor, Atlanta
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by "Only McKinsey" <publishing@email.mckinsey.com> - 01:12 - 2 Jul 2024 -
The transformation of travel: A leader’s guide
Leading Off
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Brought to you by Alex Panas, global leader of industries and senior partner, & Axel Karlsson, global leader of functional practices and senior partner
Travel patterns show notable shifts, according to a new McKinsey report by senior partner Caroline Tufft and coauthors. While most travelers still prefer to stay close to home—domestic and intraregional trips dominate the market—where they come from is changing: for example, the number of first-time tourists from Eastern Europe, India, and Southeast Asia is increasing. More travelers are visiting locations that are off the beaten track. To capitalize on these trends, tourism players may need to consider strategies such as providing tech-forward travel offerings, creating memorable experiences for varying budgets, connecting with different demographics through social media, and collaborating with logistics providers to promote new destinations. “Creative collaboration among tourism stakeholders can help put lesser-known destinations on the map,” suggest the report’s authors.
That’s McKinsey partner Margaux Constantin on what travelers will likely expect from hotels in the future. “What is appealing to the younger generation is this notion of a unique experience that is not replicable,” she says. “For example, there might be a hotel that’s hosting a yoga retreat with some famous teacher, and it’s only for one week—and so you want to go there.” Hotels may also incorporate technologies such as virtual reality and 3D glasses, adds senior partner Matteo Pacca. “I think we’ll see opportunities to test your room before you get there, in ways that are much more immersive than they are today.”
AI has begun to disrupt many industries, and the travel and hospitality business is no exception. What may make the sector stand out, though, is the extent to which AI can personalize its customer interactions, says McKinsey partner Alex Cosmas in a podcast. “The promise of AI has been to take the pattern of history, take the pattern of millions, and boil that down to the individual response that is relevant to me as a segment of one,” he says. “Nowhere is that promise needed more than in travel, where the experience should be a segment of one. That’s what makes it magical.” For example, AI and other advanced technologies might enable hotel staff to know and cater to individual customers’ needs, preferences, and behaviors. Cosmas cautions, however, that effective hyperpersonalization requires a combination of technology and human judgment. “If you can’t send a personalized message without making it feel generic, then don’t,” he says.
It’s a rare traveler who doesn’t have at least one tale of a trip gone awry. Whether the hapless tourist is mistaken for a fugitive, trapped in a bathroom, stuck in a hotel room without electricity, or enduring a scary taxi ride, travel horror stories are rife in the industry. Travel and logistics providers may find that such mishaps could cost them dearly as more people become travel-savvy and share their experiences with others. The results of our survey of more than 5,000 travelers from five major markets reveal unexpected traveler archetypes and customer segments to which industry players may need to pay close attention. “The familiar, one-size-fits-all tourism offerings of the past have grown outdated,” note the authors of the survey report. “Today’s travelers want to indulge in creative experiences that are tailored to their priorities and personal narratives.”
Lead by understanding trends in travel.
— Edited by Rama Ramaswami, senior editor, New York
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by "McKinsey Leading Off" <publishing@email.mckinsey.com> - 04:28 - 1 Jul 2024 -
How are global consumers thinking about their health and wellness?
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Growing interest in wellness. Consumers across the globe are increasingly prioritizing and investing in wellness, McKinsey partner Anna Pione shares on a recent episode of The McKinsey Podcast. A McKinsey survey of 5,000 consumers finds that 82% of US consumers, 73% of UK consumers, and 87% of Chinese consumers report wellness as being a top or very important priority in their lives. What’s striking is that the focus keeps increasing, Pione adds.
—Edited by Belinda Yu, editor, Atlanta
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by "Only McKinsey" <publishing@email.mckinsey.com> - 01:31 - 1 Jul 2024 -
The ups and downs of global productivity
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The ups and downs of global productivity
The ABCs Prefer audio? Listen to the podcast, and explore past episodes of the The McKinsey Podcast. Subscribe via Apple Podcasts or Spotify.
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by "McKinsey & Company" <publishing@email.mckinsey.com> - 12:46 - 1 Jul 2024 -
Top 10 articles this quarter
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Top Ten Newsletter | Second Quarter 2024
Our top ten articles this quarter look at generative AI, bad bosses, inflation, and more. At No. 1 is “What is generative AI?”, which draws on insights from articles by McKinsey’s Rodney W. Zemmel, Kate Smaje, Lareina Yee, Michael Chui, Ida Kristensen, and more.
1. What is generative AI?
Generative artificial intelligence (AI) describes algorithms (such as ChatGPT) that can be used to create new content, including audio, code, images, text, simulations, and videos. Recent breakthroughs in the field have the potential to drastically change the way we approach content creation. Take a comprehensive view
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by "McKinsey Top Ten" <publishing@email.mckinsey.com> - 06:57 - 30 Jun 2024 -
The week in charts
The Week in Charts
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by "McKinsey Week in Charts" <publishing@email.mckinsey.com> - 03:50 - 29 Jun 2024 -
EP118: What are the differences among database locks?
EP118: What are the differences among database locks?
Forwarded this email? Subscribe here for moreThis week’s system design refresher:
What are the differences among database locks?
How do we Perform Pagination in API Design?
What distinguishes MVC, MVP, MVVM, MVVM-C, and VIPER architecture patterns from each other?
What happens when you type a URL into your browser?
How do you pay from your digital wallet, such as Paypal, Venmo, Paytm, by scanning the QR code?
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What are the differences among database locks?
In database management, locks are mechanisms that prevent concurrent access to data to ensure data integrity and consistency.
Here are the common types of locks used in databases:
Shared Lock (S Lock)
It allows multiple transactions to read a resource simultaneously but not modify it. Other transactions can also acquire a shared lock on the same resource.Exclusive Lock (X Lock)
It allows a transaction to both read and modify a resource. No other transaction can acquire any type of lock on the same resource while an exclusive lock is held.Update Lock (U Lock)
It is used to prevent a deadlock scenario when a transaction intends to update a resource.Schema Lock
It is used to protect the structure of database objects.Bulk Update Lock (BU Lock)
It is used during bulk insert operations to improve performance by reducing the number of locks required.Key-Range Lock
It is used in indexed data to prevent phantom reads (inserting new rows into a range that a transaction has already read).Row-Level Lock
It locks a specific row in a table, allowing other rows to be accessed concurrently.Page-Level Lock
It locks a specific page (a fixed-size block of data) in the database.Table-Level Lock
It locks an entire table. This is simple to implement but can reduce concurrency significantly.
How do we Perform Pagination in API Design?
Pagination is crucial in API design to handle large datasets efficiently and improve performance. Here are six popular pagination techniques:
Offset-based Pagination:
This technique uses an offset and a limit parameter to define the starting point and the number of records to return.
- Example: GET /orders?offset=0&limit=3
- Pros: Simple to implement and understand.
- Cons: Can become inefficient for large offsets, as it requires scanning and skipping rows.Cursor-based Pagination:
This technique uses a cursor (a unique identifier) to mark the position in the dataset. Typically, the cursor is an encoded string that points to a specific record.Example: GET /orders?cursor=xxx
- Pros: More efficient for large datasets, as it doesn't require scanning skipped records.
- Cons: Slightly more complex to implement and understand.
Page-based Pagination:
This technique specifies the page number and the size of each page.Example: GET /items?page=2&size=3
- Pros: Easy to implement and use.
- Cons: Similar performance issues as offset-based pagination for large page numbers.
Keyset-based Pagination:
This technique uses a key to filter the dataset, often the primary key or another indexed column.Example: GET /items?after_id=102&limit=3
- Pros: Efficient for large datasets and avoids performance issues with large offsets.
- Cons: Requires a unique and indexed key, and can be complex to implement.
Time-based Pagination:
This technique uses a timestamp or date to paginate through records.Example: GET /items?start_time=xxx&end_time=yyy
- Pros: Useful for datasets ordered by time, ensures no records are missed if new ones are added.
- Cons: Requires a reliable and consistent timestamp.
Hybrid Pagination:
This technique combines multiple pagination techniques to leverage their strengths.
Example: Combining cursor and time-based pagination for efficient scrolling through time-ordered records.Example: GET /items?cursor=abc&start_time=xxx&end_time=yyy
- Pros: Can offer the best performance and flexibility for complex datasets.
- Cons: More complex to implement and requires careful design.
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What distinguishes MVC, MVP, MVVM, MVVM-C, and VIPER architecture patterns from each other?
These architecture patterns are among the most commonly used in app development, whether on iOS or Android platforms. Developers have introduced them to overcome the limitations of earlier patterns. So, how do they differ?
MVC, the oldest pattern, dates back almost 50 years
Every pattern has a "view" (V) responsible for displaying content and receiving user input
Most patterns include a "model" (M) to manage business data
"Controller," "presenter," and "view-model" are translators that mediate between the view and the model ("entity" in the VIPER pattern)
These translators can be quite complex to write, so various patterns have been proposed to make them more maintainable
What happens when you type a URL into your browser?
The diagram below illustrates the steps.
Bob enters a URL into the browser and hits Enter. In this example, the URL is composed of 4 parts:
🔹 scheme - 𝒉𝒕𝒕𝒑://. This tells the browser to send a connection to the server using HTTP.
🔹 domain - 𝒆𝒙𝒂𝒎𝒑𝒍𝒆.𝒄𝒐𝒎. This is the domain name of the site.
🔹 path - 𝒑𝒓𝒐𝒅𝒖𝒄𝒕/𝒆𝒍𝒆𝒄𝒕𝒓𝒊𝒄. It is the path on the server to the requested resource: phone.
🔹 resource - 𝒑𝒉𝒐𝒏𝒆. It is the name of the resource Bob wants to visit.The browser looks up the IP address for the domain with a domain name system (DNS) lookup. To make the lookup process fast, data is cached at different layers: browser cache, OS cache, local network cache, and ISP cache.
2.1 If the IP address cannot be found at any of the caches, the browser goes to DNS servers to do a recursive DNS lookup until the IP address is found (this will be covered in another post).Now that we have the IP address of the server, the browser establishes a TCP connection with the server.
The browser sends an HTTP request to the server. The request looks like this:
𝘎𝘌𝘛 /𝘱𝘩𝘰𝘯𝘦 𝘏𝘛𝘛𝘗/1.1
𝘏𝘰𝘴𝘵: 𝘦𝘹𝘢𝘮𝘱𝘭𝘦.𝘤𝘰𝘮The server processes the request and sends back the response. For a successful response (the status code is 200). The HTML response might look like this:
𝘏𝘛𝘛𝘗/1.1 200 𝘖𝘒
𝘋𝘢𝘵𝘦: 𝘚𝘶𝘯, 30 𝘑𝘢𝘯 2022 00:01:01 𝘎𝘔𝘛
𝘚𝘦𝘳𝘷𝘦𝘳: 𝘈𝘱𝘢𝘤𝘩𝘦
𝘊𝘰𝘯𝘵𝘦𝘯𝘵-𝘛𝘺𝘱𝘦: 𝘵𝘦𝘹𝘵/𝘩𝘵𝘮𝘭; 𝘤𝘩𝘢𝘳𝘴𝘦𝘵=𝘶𝘵𝘧-8
<!𝘋𝘖𝘊𝘛𝘠𝘗𝘌 𝘩𝘵𝘮𝘭>
<𝘩𝘵𝘮𝘭 𝘭𝘢𝘯𝘨="𝘦𝘯">
𝘏𝘦𝘭𝘭𝘰 𝘸𝘰𝘳𝘭𝘥
</𝘩𝘵𝘮𝘭>The browser renders the HTML content.
How do you pay from your digital wallet, such as Paypal, Venmo, Paytm, by scanning the QR code?
To understand the process involved, we need to divide the “scan to pay” process into two sub-processes:
Merchant generates a QR code and displays it on the screen
Consumer scans the QR code and pays
Here are the steps for generating the QR code:
When you want to pay for your shopping, the cashier tallies up all the goods and calculates the total amount due, for example, $123.45. The checkout has an order ID of SN129803. The cashier clicks the “checkout” button.
The cashier’s computer sends the order ID and the amount to PSP.
The PSP saves this information to the database and generates a QR code URL.
PSP’s Payment Gateway service reads the QR code URL.
The payment gateway returns the QR code URL to the merchant’s computer.
The merchant’s computer sends the QR code URL (or image) to the checkout counter.
The checkout counter displays the QR code.
These 7 steps complete in less than a second. Now it’s the consumer’s turn to pay from their digital wallet by scanning the QR code:
The consumer opens their digital wallet app to scan the QR code.
After confirming the amount is correct, the client clicks the “pay” button.
The digital wallet App notifies the PSP that the consumer has paid the given QR code.
The PSP payment gateway marks this QR code as paid and returns a success message to the consumer’s digital wallet App.
The PSP payment gateway notifies the merchant that the consumer has paid the given QR code.
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by "ByteByteGo" <bytebytego@substack.com> - 11:36 - 29 Jun 2024 -
Take an unbiased approach to decision making
Readers & Leaders
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THIS MONTH’S PAGE-TURNERS ON BUSINESS AND BEYOND
You have a hunch that your store’s fourth-quarter sales are down because of online shopping. You complete an analysis of shoppers who purchased online more often this quarter than last. The solution is simple: You need an online store, right? Wrong. You may have just solved a problem that didn’t exist; something else could be amiss. All too often, many engage in confirmation bias—making assumptions based on preexisting beliefs. Bias could affect important business and personal decisions. It could also lead to costly mistakes and missed opportunities. To gain a more balanced perspective, take a few steps back. Start with an empty canvas, or even better, that blank first page of a book.
This edition of Readers & Leaders sheds light on the foibles of decision making. Rockefeller International chairman Ruchir Sharma discusses why government’s predetermined solution to economic disaster won’t avert a crisis but contributes to one. Elspeth Kirman, Nesta’s chief program officer, highlights the impact of bias on constructive decision making and explains why the worst form of bias is inactivity. American University professor Aram Sinnreich shares why solely exploring data that support an argument rather than letting data drive discovery could be a recipe for failure. Read on to see how a more neutral viewpoint could help avert bias and improve outcomes.
Want early access to interviews? Download the McKinsey Insights app to read the latest Author Talks now.it bears repeating
IN CASE YOU MISSED IT
TURN BACK THE PAGE
Put your bias-busting skills to the test as you explore these interviews:
1. Think you’re foolproof? It could be hurting your decision making
2. How to remove unconscious bias from the workplace
3. Dismantling double standards in business with CNBC’s Julia Boorstin
4. Howard Friedman on getting the most from your data science teamBUSINESS BESTSELLERS TOP
8
Catch up on the latest and greatest reads for the month. Explore May’s business bestsellers, prepared exclusively for McKinsey by Circana. Check out the full selection on McKinsey on Books.
BUSINESS OVERALL
BUSINESS HARDCOVER
ECONOMICS
DECISION MAKING
ORGANIZATIONAL BEHAVIOR
WORKPLACE CULTURE
COMPUTERS & AI
SUSTAINABILITY
Venture Meets Mission: Aligning People, Purpose, and Profit to Innovate and Transform Society by Arun Gupta, Gerard George, and Thomas J. Fewer (Stanford University Press)
BOOKMARK THIS
The Journey of Leadership: How CEOs Learn to Lead from the Inside Out
The Journey of Leadership (Portfolio/Penguin Group), McKinsey’s next major book, will publish in the United States and the United Kingdom on September 10. The book, by senior partners Dana Maor, Kurt Strovink, Ramesh Srinivasan, and senior partner emeritus Hans-Werner Kaas, is the first-ever explanation of McKinsey’s step-by-step approach to transforming leaders both professionally and personally—including revealing lessons from its legendary CEO leadership program, the “Bower Forum,” which has counseled more than 500 global CEOs over the past decade. It’s a journey that helps leaders hone the psychological, emotional, and, ultimately, human attributes that result in success in today’s most demanding top job.
Coming soon
Curious about the books that global leaders are reading? Stay tuned for our annual reading guide, which launches in July. Discover which selections executives have on their shelves and why.
If you’d like to propose a book or author for #McKAuthorTalks, please email us at Author_Talks@McKinsey.com. Due to the high volume of requests, we will respond only to those being considered.
—Edited by Emily Adeyanju, editor, Carolinas
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by "McKinsey Readers & Leaders" <publishing@email.mckinsey.com> - 11:17 - 29 Jun 2024 -
You're invited! Join us for a virtual event on tight labor markets in advanced economies
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New from McKinsey & Company
Labor markets in advanced economies are exceptionally tight today. This tightness isn’t the lingering effects of the COVID-19 pandemic but rather a sustained trend driven by aging workforces and labor demand outstripping supply. Continued tightness comes at an economic cost, increasing the impetus for business leaders and policymakers to come up with new approaches to boost participation and productivity to offset its impact.
Join us on Tuesday, July 30 at 11:00AM-12:00PM EDT (5:00PM-6:00PM CEST) for a discussion on MGI’s latest research that examines labor market conditions in advanced economies, highlighting dynamics across sectors and occupations, future supply trends, and strategies to mitigate labor shortages.
This virtual event will include a presentation by the authors followed by a panel with leading labor market experts who will discuss: •
Countries and sectors that are most impacted by labor shortages
•
The economic consequences of labor shortages
•
The role of AI and other technology
•
Actions employers and policymakers can take to improve labor supply and productivity
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Copyright © 2024 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007
by "McKinsey & Company" <publishing@email.mckinsey.com> - 03:07 - 28 Jun 2024 -
Think big
The Shortlist
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Curated by Liz Hilton Segel, chief client officer and managing partner, global industry practices, & Homayoun Hatami, managing partner, global client capabilities
How to climb Mount Everest? Two essentials seem to matter most: an experienced guide and a willingness to do the hard work. No one goes from base camp to the summit unassisted. And no one gets there without plans, preparation, and grit. This summer, McKinsey is exploring what it takes for companies to summit their industries. We hope you enjoy the read.
—Liz and Homayoun
Everybody has dreams. Successful companies do something about it. The biggest gap in business is between companies that embrace the challenges of transformation and those that hope “business as usual” will succeed forever.
Get started with What it takes to create a winning transformation, a Five Fifty briefing from McKinsey Quarterly.What do they have that we don’t? Answer: a superpower. Competitive dynamics are complicated, but they often boil down to a simple fact: one company has invested in an institutional capability that helps it do a mission-critical activity superlatively well, and the others have not.
Get your cape on with Building a superpower: What can we learn from the Magnificent Seven?, by Brad Mendelson, Harald Fanderl, and coauthors.People persons. Some CEOs seem to have it all figured out. They have financial acumen and strong management skills. They’re systems thinkers. But their results lag behind their aspirations. What gives? Our new book on leadership suggests an answer: they need to connect authentically with their teams—and themselves.
For a sneak peek, check out this excerpt: The ‘inside out’ leadership journey: How personal growth creates the path to success, by Dana Maor, Hans-Werner Kaas, Kurt Strovink, and Ramesh Srinivasan.Anybody out there? Many big consumer companies have hit a rough patch in the 2020s. Consumers are often hard to pin down, macro trends are slowing growth, and costs are rising. To salvage the next five years, companies will need to both reshape their portfolios and build best-in-class operational capabilities (superpower, anyone?).
Make 2030 a year to remember with Rescuing the decade: A dual agenda for the consumer goods industry, by Jessica Moulton, Pavlos Exarchos, and Warren Teichner.We hope you find these ideas inspiring and helpful. See you next time with four more McKinsey ideas for the CEO and others in the C-suite.
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Copyright © 2024 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007
by "McKinsey CEO Shortlist" <publishing@email.mckinsey.com> - 04:53 - 28 Jun 2024
