Business intelligence market

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Business intelligence market Powered By Docstoc
					                                      Hebrew University
                                 Faculty of Computer science
                               School of Business Administration
                                        Faculty of low
                                            B.R.M.




Date: 18/1/2001
Adar Yuval         029330644
Blustein Yisrael    3439244
Karizevsky Alex 304223498
Saban Bahir        555020551
Sobol Raviv        24894057
Turgeman galia 038384806
Index:
Executive Summary .......................................................................................................................................... 3
Executive Summary .......................................................................................................................................... 3
Introduction to Business intelligence ............................................................................................................. 5
Introduction to Business intelligence ............................................................................................................. 5
Business intelligence market: ........................................................................................................................... 8
Legal Issues Relevant to Vigil‘s Future: ....................................................................................................... 10
The company ................................................................................................................................................... 11
Company History ............................................................................................................................................ 11
Company Management................................................................................................................................... 13
Board of Directors .......................................................................................................................................... 14
Advisory Board ................................................................................................................................................ 15
        Ben Gilad ................................................................................................................................................. 15
Difficulties the firm had to cope with: ......................................................................................................... 15
Product Description........................................................................................................................................ 16
Porter‘s model .................................................................................................................................................. 19
    Customers .................................................................................................................................................... 20
    Consumption Behavior: ............................................................................................................................. 21
    Competitors: ................................................................................................................................................ 21
    Direct Competitors: .................................................................................................................................... 22
Company Strategy ........................................................................................................................................... 24
        Targeted Firms – Fortune 1,000 .......................................................................................................... 24
Financial Model ............................................................................................................................................... 26
    Long Term Cash Flow Planning: ............................................................................................................. 28
S.W.O.T Model ................................................................................................................................................ 29
Our Personal View .......................................................................................................................................... 31
Bibiliography: ................................................................................................................................................... 32
Appendices ....................................................................................................................................................... 33




Tables
Table 1 Sources for gathering public information ........................................................................................ 6
Table 2 Net present value of service cost .................................................................................................... 26
Table 3 sensitive analysis – Estimated Annual Income ............................................................................. 28


                                                                                 2
Executive Summary

Vigil was established in 1998 by the 1st Round investment from Eucalyptus Ventures and the
founders of CheckPoint. Shlomo Kramer, one of the CheckPoint founders and members of
Eucalyptus Ventures are participate in Vigil‘s Board of Directors.


Vigil is a pioneer in online intelligence solutions. The company provides time effective solutions that
allow decision makers, business researchers and analysts to comprehensively and continuously
monitor their business landscape using internet sources.


Vigil operates within the business intelligence market. The business intelligence market includes
programs and technologies aimed at gathering, storing and analyzing data in order to help users to
reach better business decisions. Business intelligence includes the activities of decision support,
report, and real time analysis. The business potential of this branch is estimated at around $100
billion over the next few years. To date sales have not met their predictions. Insert footnote.


Vigil strategy is to enter the Business Information market by focusing on the following: Target
Fortune 1,000 firms; focus on providing a service not software to add a different revenue source
within companies; ASP ‗push‘ oriented model; outsource non-core operations; achieve critical mass
within the industry; and expand the service in coordination with the market demand.


Vigil‘s financial model of vigil is a derivative of its strategic plan. It will focus on: premium service
product pricing; charge per number of users and scope of usage; target large Firms; achieving critical
mass of market size; and utilize long term cash flow planning.


Vigil's product, e-Sense 2.0., utilizes patented two-tier technology to achieve the most effective
online intelligence solution. It was developed specifically to deliver the key requirements of a
premium online intelligence solution, including: comprehensive coverage of sources; provide
relevant information based on user requirements; supply incremental information in a timely
fashion; and be an easy to use product.
e-Sense 2.0 is a web-based service that prompts users to map their business landscape in order to
track changes in all critical aspects, such as their competition, partners, markets, and industry. e-
Sense automatically and continuously gathers highly-relevant business intelligence based on these
landscapes, while guaranteeing predictable and comprehensive coverage of open Internet sources.


                                                     3
This information is then delivered directly to users' desks. Because e-Sense can recognize
incremental changes, it provides the user with reports containing only information new to the user.


Business intelligence industry has a significant growth potential. Businesses today experience great
difficulty in taking full advantage of the vast amount of knowledge and information that exists on
the Internet, and the corporation's need for technologies to efficiently control those amount of
information, would probably become more and more obvious.
The more companies use sophisticated means for business intelligence purposes, the more other
companies would be forced to use such as well in order to avoid relative advantage, hence the
expected growth of the BI industry.




                                                  4
Introduction to Business intelligence
Business intelligence and the development of an intelligent learning organization represent a trend
leaded by large firms who are seeking for new ways to improve their decision-making and thus their
competences.
Intelligence is the ability to learn, to understand or to deal with new or trying situations; the skilled
use of reason; the ability to apply knowledge to manipulate one's environment or to think abstractly.
Business intelligence is a set of concepts, methods and processes to improve business decisions
using information from multiple sources and applying experience and assumptions to develop an
accurate understanding of business dynamics. It is the gathering, management and analysis of data to
produce information that is distributed to people throughout the organization to improve strategic
and tactical decisions.


Business intelligence involves the integration of core information with relevant contextual
information to detect significant events and illuminate cloudy issues. It includes the ability to
monitor business trends, to evolve and adapt quickly as situations change and to make intelligent
business decisions on uncertain judgments and contradictory information. It relies on exploration
and analysis of unrelated information to provide relevant insights, identify trends and discover
opportunities.


Business intelligence requires high-quality information, which can only be derived from a high-
quality data resource. There is little doubt that the technology will support business intelligence. The
real issue is how to clean up disparate data and produce a high-quality data resource that
truly supports business intelligence.


The value chain begins with the data resource.
Data is the individual raw facts that are out of
                                                            Business Strategies
context, have no meaning and are difficult to
understand. Facts are numbers, characters,                Business Intelligence
character strings, text, images, voice, video
                                                         Knowledge Environment
etc. Data in context is facts that have meaning
and can be readily understood.                          Information Engineering
Information is a set of data in context that is     Data Resource
relevant to one or more people at a point in




                                                    5
time or for a period of time. It is data in context with respect to understanding what the facts mean.
A message without meaning, relevance or purpose is simply noise.




Knowledge is cognizance, cognition, the fact or condition of knowing something with familiarity
gained through experience or association. It is the acquaintance with or the understanding of
something, the fact or condition of being aware of something, of apprehending truth or fact.


An organization has three primary resources: capital, human resource and data resource. The
data resource and information engineering, collectively, are the technology resource that supports
the human resource in an intelligent learning organization. The knowledge environment and
business intelligence, collectively, are the human resource that uses information to support the
business strategies. It is the human resource that possesses the business intelligence, the intelligence
and the wisdom to support business strategies. Information is the link between the data resource
and the human resource.



Business intelligence (BI) is a broad category of application programs and technologies for
gathering, storing, analyzing, and providing access to data to help enterprise users make better
business decisions. BI applications include the activities of decision support, query and reporting,
online analytical processing (OLAP), statistical analysis, forecasting, and data mining.




The need for highly relevant business information is critical for most firms in any competitive
market. However, only large firms understand this issue and are willing to allocate budgets for that
purpose.




There are mainly two sources for gathering public information:

Table 1 Sources for gathering public information


                     Primal Data bases                        Secondary Data bases
                            Internet                                   Books


                                                    6
                     Financial statement                   Media (Radio, Television)
                Government documentation                        Analysis Reports
                           Lectures                         Newspapers Magazines
                        Other reports




As most of the knowledge is public (80%-90%), gathering and analysis that information can be a
benefit. Its can help firms to learn more of their competitors and new competitors, new markets,
new technology, new legislation, market trends etc.




The business intelligence market had evolved in order to give firms the ability to understand their
markets and their competitors and the relationship between them and the surroundings. The
following examples exhibit the importance of BI.

        During the 80th a new company (Vered Hagalil) tried to enter the Israeli chocolate industry.
    Elite – the market largest firm, watched after the moves of Vered Hagalil prior to the launching
    of the product line. Elite succeeded to release a few days ahead of Vered Hagalil formal
    launching the same product line with similar packages. Those move kept Elite monopoly power
    in the Israeli chocolate industry.

        Pepsi – a world leader of beverages manufacture had decided to enter the Israeli market.
    Coca-cola, the market monopolist gathered information about the upcoming move. The most
    crucial information they had was the timing- Coca-Cola knew exactly when Pepsi intends to
    enter the market. Tow weeks prior to that move Coca-Cola had given the retailers free
    refrigerators full of soft drinks. The entrance to the market was blocked.




By using Business Intelligence both Elite and Coca-Cola had succeed to maintain their monopolistic
power and to sustain profits above normal. For those reasons firm understand the importance of BI
and are ready to pay for that.


                                                   7
Business intelligence market:

The Business Intelligence market is divided into 4 separate segments. Each segment provides a
different need of the company:

   1. Data Support: Executives are required to clearly express the problems and business
       issue. In addition, in fast
       changing economy these                 Data Gathering                        Data Analysis
       executives have to make
                                                                     Business
       decision fast. A DSS (decision
                                                                   Information
       support system) is a computer
                                                                     industry
       program application that
       analyzes business data and               n
                                              D Distribution
                                                                                           Decision
                                                                                           Making
       presents it so that users can make business decisions more easily..
   2. Data analysis: Processing the data, making it clear and easy to use.
           a. Data mining: Data mining is the analysis of data for relationships
               that have not previously been discovered. For example, the sales
               records for a particular brand of tennis racket might, if sufficiently
               analyzed and related to other market data, reveal a seasonal
               correlation with the purchase by the same parties of golf equipment.
           b. OLAP: OLAP (online analytical processing) enables a user to easily
               and selectively extract and view data from different points-of-view.
               For example, a user can request that data be analyzed to display a
               spreadsheet showing all of a company's beach ball products sold in
               Florida in the month of July, compare revenue figures with those for
               the same products in September, and then see a comparison of other
               product sales in Florida in the same time period.
   3. Distribution : The delivery of data to the end user, keeping him up to date regarding
       the required information. These programs enable their clients to control the stream
       of information within the organization and to deliver each user the only relevant
       information he needs.


                                                   8
   4. Data Gathering: The collection of information from various sources (see table 1) the
       value of the information depends on the level of the end user's feedback and the
       level of the interaction with him. The user defines the required information; as
       clearer the definition the user entered the more relevant and usable the information
       received would be. The end user is the person who receives the information and
       therefore he is the one who is required to produce the maximum out of it.




There are many firms competing within that market witch offer a large variety of different product
and services. The largest firms have a diversity of product, most of them operate at the Data
Analysis and the DSS segment.

Vigil operates in the Data Gathering market. This market can be segmented into to two different
markets: the data publishers and the data vendors:

       The data publishers market consists on firms, which gather information from various
       sources and publish it. For example the thestreet.com web sight publish financial data free of
       charge (financial statement, analyst reports, news, business news etc.). Those firms usually
       gather general information which attract large portion of the public.

       The data vendor seeks for specific information defined by their clients. This information has
       high value, and the clients are ready to pay to get it: Mergers and acquisition (before it gets to
       the media), price changes, new alliances, personnel appointments etc.




Vigil is a data vendor. Unlike most firms within this industry, Vigil gathers information only from
Internet sources. There are a lot of firms competing at this market, however, Vigil had succeed to
develop a unique product that distinguish itself from most of the market: Vigils technology can
search on-line source for relevant data according to the user definition with high relevancy – 80% to
100% relevancy user defined (additional explanation ahead).




                                                   9
The need for a platform that can efficiently gather information had become a necessity as the
Internet became the largest database. This need is consist on the following characteristics:

    A very dynamic and competitive market

    New fields to learn

    A lot of information from various sources

    To enable the information source to work more efficiently as the quantity of information is huge

    The need for analytical methods for gathering information

    Support for the organization




The Business Intelligence market growth is fantastic. The estimated revenue of this market at 2000 is
expected to be more than a billion $. According to several forecasts this market is at the beginning
of the growth stage in the product
life cycle. The rate of growth of                        Forcast Of Busine ss Informaion Life
                                                                       Cycle
this market in the next five years
will be more than 50% per year                          100
and the total revenue of the                            80
                                         Billion Of $




Business Intelligence industry is                       60
expected to be over 100 billion $                       40

at 2006-2007. As for today 90% of                       20
                                                         0
Fortune 500 Firm had established
                                                              2001 2002 2003 2004 2005 2006 2007
a Business Information Units.

Legal Issues Relevant to Vigil’s Future:
Vigil‘s technology provides the user with links to sites containing information desired by him. Vigil
describes its products as monitoring the open Internet sources. Such technology doesn‘t seem to
create any legal problem, since the sites linked by Vigil technology are only interested in making the
information they contain more popular and accessible.




                                                              10
Moreover, Vigil is probably included by sec. 512(k)(1) to the Digital Millennium Copyright
Act, and therefore provided with immunity from criminal and civil liabilities of copyright
infringement by its users so long as certain conditions (safe harbors) are met1.
The controversy about the legality of deep linking (direct linking to a web page bypassing the site‘s
home page) is of utmost importance to Vigil‘s future. If the courts adopt a rigid line, which prohibits
any kind of deep linking, it might prove lethal to Vigil‘s future.
It is important to mention that vigil technology doesn‘t copy content or databases from any site, but
only create links to pages the program finds relevant to the user, namely, a transformative service.
According to the current legal common position Vigil, as any other search engine, would enjoy
freedom to deep link to any open Internet sources.
The question to be answered is whether the currently open Internet databases would remain open
for long or become encrypted or protected allowing only registered (paying) users to visit them. To
my opinion, such a development would only drive the information providers to cooperate with
Vigil, which, equipped with its technology might bring more and more paying users to their desired
destination.


The company
Vigil is a pioneer in online intelligence solutions. The company provides a time effective solutions
that allow decision makers, business researchers and analysts to comprehensively and continuously
monitor their business landscape using internet sources.


The company recently raised 5.5 million-dollar. This sum is designated by Vigil to establish its sales,
marketing and support dispositions on the occasion of launching its flag product - E-Sense. This
product enables business and technology persons to gather information tailored for their needs from
the Internet. The software enables the user to create a customized information portfolio updating
constantly form all available internet resources: web sites, news groups and mailing lists.


Company History
Vigil‘s beginning can be traced back four years to an idea by current CEO Gidi Cohen. At first he
did not know exactly how to proceed with his idea. So he consulted with friends and family for


1
  In order to meet these conditions Vigil must establish and "reasonably implement" a policy, inform account
holders that it will terminate in " appropriate circumstances" the accounts of those who are "repeat infringers" of
said policy and accommodate and not interfere with "standard technical measures" used by copyright owners to
identify or protect their works. Finally, there must be designated an agent to be notified of alleged acts of
infringement from copyright owners

                                                          11
feedback. They advised him and helped him focus his idea and contact some potential investors.
Cohen began developing the prototype. After several months of difficult prototype development,
Cohen was left without finances and without team members. Nonetheless, Cohen remained
undeterred, and his perseverance was rewarded with the addition of Ofer Shohat to the team. The
then began to put the business ‗on the road.‘
The company in its current form began in March 1999 with funding from Eucalyptus Ventures and
the heralded founders of CheckPoint. Vigil‘s Board of Directors consists of Shlomo Kramer, one of
the CheckPoint founders, and partners of Eucalyptus Ventures.


The following is a brief history of Vigil’s various stages:
   March 2, 1999 – first round of financing from Eucalyptus Ventures & CheckPoint founders.
   April 1, 1999 – Vigil chooses Marcus Venture Consulting, Ltd. as strategic adviser for marketing
   and business development.
   August 15, 1999 – Vigil opens it‘s North American headquarters in Boston, Massachusetts
   (USA). This step ensured that Vigil would be in closer contact with its customer base. Beta
   testing begins.
   November 22, 1999 – Vigil raises $5.5 million from Polaris Venture Capital, Seed Capital
   Partners (a SOFTBANK affiliated fund) and Chase Capital Partners. This financing is earmarked
   for Vigil's marketing, sales and customer support infrastructure, and to fund the launch of e-
   Sense, Vigil's initial service product for online business intelligence.
   January 17, 2000 - Vigil moves its US headquarters to Acton, Massachusetts (MA). This step
   allows the company to support its rapid expansion.
   January 18, 2000 – Vigil hires Michael J. Martini as its Vice President of Sales (VP Sales).
   Martini comes to Vigil with over 15 years of experience building and managing worldwide sales
   organizations in the information services and Internet industries (prior employment with Reuters
   America and Dow Jones Markets). A VP Sales such as Martini is critical for Vigil to break into
   the business intelligence market.
   May 2, 2000 – Vigil starts cooperation with The Academy of Competitive Intelligence. This
   cooperation seeks to produce more efficient competitive intelligence (CI) solutions in the future.
   May 23, 2000 – Vigil signs more than 50 customers for e-Sense (including several Fortune 500
   leaders in the financial, manufacturing and technology sectors).
   May 30, 2000 – Vigil has selects Exodus Communications(TM), Inc. to provide Internet hosting
   and management for e-Sense. Exodus Communications is one of the largest Internet protocol
   networks in the world and comprises a global backbone, high-performance network architecture


                                                   12
    with industry-leading public and private interconnect arrangements to deliver performance to
    customers any time and any day. According to company‘s CEO Gidi Cohen, these features will
    allow Vigil to perform better in the global market. It will also allow Vigil to put all its focus on
    maintaining a cutting edge product.
    June 24, 2000 – Vigil announces release of its new product version, e-Sense 2.0.
    August 24, 2000 - Vigil announces the hiring of Jeffrey M. Bernard as Vice President of
    Marketing. Bernard comes to Vigil with over 20 years experience in high technology marketing
    and product management, and is responsible for Vigil's product management, product marketing
    and corporate communications strategies and programs. Bernard held several executive level
    positions at Sun Microsystems, Inc., most recently as acting vice president of Solaris marketing.


Company Management
Gidi Cohen, Co-Founder, President and Chief Executive OfficerGidi Cohen is responsible for the
management, operations, and strategic direction of Vigil. He has led both research and development
and technical marketing groups. Prior to founding Vigil, Gidi managed a large group of computer-
aided manufacturing (CAM) developers at Orbotech Ltd., the world's top manufacturer of
automated optical inspection systems and CAM solutions.


Dr. Ofer Shochet, Co-Founder and Executive Vice President
Ofer Shochet leads Vigil's strategic projects in product development and worldwide service and
operations infrastructures. In addition, he oversees the operations of Vigil's office in Israel. Most
recently, Ofer served as a Vice President of Silicon Graphics Biomedical Ltd., a fully-owned
subsidiary of SGI, where he oversaw research and development.


Jeff Bernard, Vice President, Marketing
Jeff Bernard is responsible for Vigil's product management, product marketing, and corporate
communications strategies and programs. Jeff comes to Vigil with over 20 years of experience in
bringing innovative technology solutions successfully to market. With a broad-based marketing
background, Jeff's expertise is particularly focused on analyzing market dynamics, in combination
with customer feedback, to drive product innovation.


Nir Doron, Vice President, Research and Development
Nir Doron is responsible for the entire lifecycle of Vigil's products. Overseeing Vigil's teams of
software developers, quality assurance engineers, and information specialists, Nir has more than ten


                                                   13
years of management experience in research and development. Most recently, he served eight years
with Tecnomatix Technologies Ltd., where he was responsible for various computer-aided design
(CAD) and automation projects, including the company's next generation infrastructure and product
line.


Mike Martini, Vice President, Sales
A member of the senior executive team, Mike Martini is leading Vigil's worldwide sales efforts. Mike
has over fifteen years experience building and managing worldwide sales organizations in the
information services and Internet industries. Prior to joining Vigil, he was vice president, worldwide
sales, at Globix Corporation, a leading provider of Internet connectivity and next-generation data
center solutions for businesses.


Joerg Laves, Director, Customer Care
Joerg Laves is responsible for Vigil's state-of-the-art Customer Care Department, which includes
professional services, training, customer support, and service hosting. In this position, Joerg is
leading Vigil's responsive service organization which works with customers to ensure they are
getting the maximum benefit of Vigil's e-Sense service. Joerg brings more than 15 years experience
building best-in-class customer-focused service organizations, having held management positions at
Eastman Software, Summa Four, and Digital Equipment Corporation.


Board of Directors
    Gidi Cohen, President & CEO, Vigil (see above)
    Shlomo Kramer
    Shlomo Kramer, a Co-Founder of Check Point Software Technologies Ltd. (CHKP), the
    worldwide leader in Internet security software, has served as a Director of Check Point since its
    inception in July 1993
    Aaron Mankovski
    Mr. Mankovski is a Co-Founder and Managing Director of Eucalyptus Ventures, and was a
    Partner and Co-Managing Director of Karden Technology Ventures, a venture capital fund in
    Israel. Mr. Mankovski has over 15 years experience in international sales, marketing and general
    management in high technology.
    Ofer Shochet, Executive Vice President, Vigil (see above)




                                                   14
Advisory Board
Ben Gilad
Dr. Ben Gilad is the Founder and President of the Academy of Competitive
Intelligence, the leading institute for intelligence professionals. Dr. Gilad is widely recognized as the
authority on Competitive Intelligence (CI) theory and practice in the United States.
In 1996, Dr. Gilad received the Meritorious Award from the Society for Competitive Intelligence
Professionals (SCIP), recognizing his contribution to the development of the profession. Dr. Gilad's
CI model is the most widely-adopted model for corporate intelligence operations among Fortune 50
companies.


Difficulties the firm had to cope with:
Raising the money: Vigil first round (March 1998) wasn‘t an easy task. Gidi Cohen went from V.C.
to another, presenting a new perception of Information Gathering Software, with no real technology
in his hand. Gidi used his good acquaintance with Checkpoint founders (Members of the same
Intelligence unit in the army) and Accounting companies to get to potential investor.




Establishing the U.S. headquarter: Establishing the headquarter at the United States and the
caused some social difficulties. The Israeli sight workers, who have been the center of the company
since its establishment, felt that they are somehow out of the game. In addition the workers felt that
the close relationship between them is falling apart as Gidi Cohen left to the U.S. branch.


Adoption of the product by the market: The market didn‘t welcome Vigils product as they
expected it would be. The firm had to few clients and didn‘t succeed to have reasonable revenues .
For that reason the company had to change its strategy.


The strategy: At the beginning, Vigil tried to sell the service throughout Organization professional
units. The service priced per computers users (per station). strategy didn‘t workout – Vigil didn‘t
succeed to sell its service. The firm had decided to change its strategy. Instead of selling the product
from the lower level (professional units) to the upper level (organization management) to offer the
organization a hole service package. To implement this new strategic view, Vigil had developed a
new application for their technology: e-Sense Portal application (June 24, 2000). As for the



                                                   15
beginning of 2001, the shift in the company strategic plan seems to be the right move. Vigils
revenue at the second half of year 2000 had risen dramatically.




Product Description
Vigil‘s product is named e-Sense 2.0. e-Sense 2.0 is designated for market researchers who need
highly-specific information on competitors and market conditions and for portal site users who need
to keep abreast of news in their industry. e-Sense 2.0 is divided into e-Sense Professional, e-Sense
Portal Feed and e-Sense Portal Applications to serve various client needs.


e-Sense Professional
e-Sense Professional is Vigil's flagship product. The product automatically locates and monitors
online sources, distilling content that is relevant to personalize business landscapes defined by the
user. e-Sense uses machine-learning techniques to gather business information and intelligence
automatically from Internet sources, based on a relatively fixed set of topics and queries specified by
its user. e-Sense refines the crude data by sifting the data that is pertinent from the data that is not
and delivers the most relevant information to the user on various platforms, such as emailed reports
or a searchable database.
e-Sense Professional enables users to create personalized models of their business landscapes,
including markets, companies, and products without the assistance of an IT professionals. These
business landscape maps contain listings of companies, types of information sought and specific
questions relating to that information. Once the maps are created, the system can monitor both
public and private networks for relevant information in real time. Sources include nearly 100
categories of business information—including analyst reports, investment information, personnel
changes and white papers.


e-Sense Portal Feed and e-Sense Portal Applications
On the basis of e-Sense Professional and its technology Vigil developed two new products for portal
managers and portal users.
e-Sense Portal Feed provides managers who are responsible for portal projects an effective way to
add relevant content to their users from aggregated online sources. e-Sense Portal Feed
automatically locates and monitors Internet and other online sources, distilling content that is
relevant and delivers this content to information portals, allowing the organization to leverage it
securely throughout the portal user community. e-Sense Portal Feed can Feed into the portal site –


                                                    16
whether consumer, vertical or enterprise, whether it‘s a knowledge management system or business
intelligence system.
e-Sense Portal Applications provides managers who are responsible for portal projects an advanced
way to address their user community's online intelligence needs by providing ways for users to
specify what information they will receive and how.


How e-Sense Works – User Side
The user models his business landscape with an easy-to-use graphical user interface (GUI). The user
selects from the drag and drop interface any market, company, or products he wishes for the
business landscape. The user can also model the relationship desired between the various selected
items by linking them in any matter he desires.
After the user receives the information from Vigil's servers he can send feedback to the system
about the relevance of the content. This allows system performance to improve and is another facet
to e-Sense‘s interactivity.


Vigil's Technology - Server Side
Most search engines rely on spiders that crawl through the Web to create an index that they can
search again. But these spiders cannot find dynamically generated pages or keep up with regular site
updates. e-Sense uses artificial intelligence, natural-language queries and information theory to gather
data in order to compile information over time and develop a historical intellectual asset. It does
this by way of a two-tier approach that imitates the way human being work when doing research.
The first tier is a source map, which receives input from the user and matches it to the appropriate
set of information sources. The source map is determined by a previously developed arrangement
built automatically by e-Sense, and it reflects the businesses selected by the user on the individual
business landscape as found on the Internet. In other words, the source map contains a complete
history of sources found to be relevant to the personalized business landscapes defined by the user.
The source map also includes the relations between these sources, and information on other sources
located but considered irrelevant to the landscape. The source map ensures that all blocks defined in
the business landscape are well covered.


The second tier is a smart differential archive deals with the information itself—monitoring,
updating, and adding new data that meets the criteria set by the user for what companies and kinds
of information they are interested in. It contains a log of information about the messages (such as
individual web pages) found in the relevant sources. This log includes the relevancy of the message,


                                                   17
changes made to the message, and the date of those changes. A message's relevancy is calculated
based on an analysis of the message text and its relation to relevant sources in the Source Map.
The two tiers work concurrently and continuously to find additional sources and to monitor existing
ones. The system is constantly improving its performance through an automatic assessment of
information gathered and also via user feedback.
Finally, e-Sense transfers the content to the user via e-mail or to information portals on an XML
format message.




                                                   18
Porter’s model


                                       Substitute products:
                                           Search Engine
                                                  Business
                                               intelligence
                                              Companies,
                                            such as: Yifat




        Suppliers:                    Direct competitors:                             Clients:
    Articulent                           Egosurf                              PWC
    Exodus                               Vitalligence                      (PriceWaterhouseCoopers)

    Verity                               Prompt                               Pepsi
                                           software inc                         Verity




                                          New players:
                                          Companies in business
                                          intelligence that
                                          specialize in one
                                          industry




Suppliers (alliances):
Vigil‘s alliance efforts are categorized in two areas, content and application, as follows:
Leveraging its business modeling and information gathering capabilities, Vigil is actively developing
content alliances to present high value content to our customers. Vigil content alliance partners
bring general and industry – specific content that includes news, research, business information and
vertical industry content necessary to enterprise 2000 firm knowledge workers/
Vigil is developing Application alliances, which integrate Vigil‘s e-sense online intelligence solutions
into partner‘s end solutions. Partnership examples currently being pursued include portal
integration; business intelligence and consultative engagement targeted toward enterprise 2000 firms.


Vigil specialized in developing technology, so they use outsourcing and make content with some
companies that charge to find the information and to gather it. Vigil alliances are:


                                                    19
                             Articulent – Articulent is a leading professional service and solutions
                             provider focused on helping clients gain a competitive advantage from
their information infrastructure. Artculent provides consulting implementation and managed
services for Business Company. Vigil uses Articulant to help their clients to achieve the most of e-
Sense – the company service.


                   Exodus Communications - Exodus Communications is the leading provider of
                   complex critical Intranet operations. The Company offers sophisticated system
                   along with professional services to provide optimal performance manages its
network infrastructure via a worldwide network.


                       Verity – Verity is a leader in powering business portals. Theses include
                       corporate portals used for sharing information within an enterprise, e –
commerce portals for online selling and market exchange portals for b2b activities. Verity develop
Vigils algorithm for searching relevant text in a certain document.


                          Infoimage - InfoImage's mission statement is to increase the efficiency
                          and effectiveness of customers through enterprise decision portal
                          software solutions. InfoImage was founded in 1992 to advise Fortune 500
companies with intranet/extranet solutions using Web and collaborative technologies.


Customers
Vigil‘s customers include Fortune 1,000 and blue – chip companies in the high technology, financial
services‘ and investment banking industries.


The Company has about 50 major clients; most of them are major firms with branches all around
the world. The company has clients of worldwide scale, such as: PriceWaterhouseCoopers, an
international financial and legal counseling company. These customers guarantee a minimal income
for the company and in case they would be satisfied, they might improve the company's reputation
and bring other customers. The major customers have several advantages concerning products
marketing; these customers can be used as sales promoters because of their financial ability and their
big investments in information coverage. Moreover, such companies know how to define their
needs and they might give Vigil a good knowledge of the client‘s requirements and needs.




                                                  20
Consumption Behavior:
Most of the business intelligence system clients examine up to two product lines prior to the
purchasing decision; since the importance of approaching customers in a very early stage (while still
developing the product) in order they won't be 'caught' by competitors.


Competitors:
The competitors are divided into several categories. Search Engines can be described as competitors
in the wide sense, but Vigil products offer more: finding specific pre-defined information. The
search process with Vigil products is reduced to only defining the information desired, since the
information reaches the customer and through interactive environment enables him to re-defined
the desired information. However, there are also search engines that interact with the user. Karnak
for example is a search engine, which ‗remembers‘ the information required by the user and
continuously searches the Internet for relevant information even when the user is inactive; the user
receives the information by E-mail. The search engine also helps the user to achieve better search
results by advising him how to improve the search parameters.


Existing web search engines suffer from two major problems. First they weren‘t set up to find
specific kinds of information‘ therefore they return great numbers of pages but are unable to discern
which of them serve your purposes. Second, they don‘t update their indexes often enough to
provide the up-to-the-minute information a company needs when tracking its market and
competitors.


There are several companies specializing in delivering online information on competitors; e.g.
Strtegy, Software Inc, Docere Intelligence, BFX Corp. These companies deal with competitive
intelligence. They deliver information regarding the market and competitors and analyze it.
However, these companies provide information that is limited only to pre-defined competitors
contrary to Vigil, which provides extensive and varied information on various subjects as defined by
the user.


In the nearest arena there are two groups of competitors:
    Companies specializing in specific knowledge for certain business fields: For example, Agency
    Compile is a company, which specializes in analyzing the marketing and advertising fields. The
    company has a daily updated library with options for direct marketing and information about the
    best counseling groups worldwide. Other companies specialize in market analysis. It is a flexible


                                                 21
    program, which enables analysis of all existing market signals. An option to automatically gather
    information from various resources in order to create different types of analysis also exists.
    Companies, who do not specialize in a certain subject, but locate and deliver information in
    various subjects, are Vigil direct competitors, as follows:


Direct Competitors:


                      Ozmosys
The company founded in 1999 and based in NYC, used by large law firms, seems to be fee based
though did not say on its website. Similar to Vigil, it allows you to customize news by identifying
and consolidating information for seamless integration on sites or via email in the form of headlines.
The information is new. Technology can be set up quickly without need for additional hardware or
software.
Continuous monitoring and extracts new information and tells you in the form of headlines.
Internet portals and other search engine, it isn‘t just and index. Unlike monitoring service (like
MindIt, and SpyOnIT), or News‘ Research Providers, it provides a direct hyperlink and can locate
specific sources such as competitor's web site, message boards,trade association web sites and
government and regulatory sites, then filter and consolidate the results. Ozmosys service can be
seamlessly integrated or syndicated into Web Sites, Intranets, Extranets and web based software
applications with no need to install hardware or software.


                           Vitalligence
Vitalligence is a tool that enables users to search and create contextual links between tranches of
unstructured information. "unstructured information" means information that has not been
subjected to any form of categorization: it has not been processed in any way, nor adapted to render
it searchable. The product affords the user enormous advantages within areas such as environmental
scanning and competitor monitoring – but other areas, such as Research and Development for
example, also have much to gain from using this tool.




Prompt software inc
Prompt Software Inc., established in 1995, is a computer software company with innovative and
important patented and patent pending technology in the general field of information management.
Regardless of the types of documents, including mixed types, the technology inherent in the


                                                   22
solutions provided by Prompt Software, Inc. enables organization and management of retrieved
information, more accurately, more rapidly, and more thoroughly than ever before possible. To date,
we have been granted four patents on our technology and have additional patents pending. It is the
stated goal of Prompt Software, Inc. to become the dominant supplier of technology and software
for the purpose of organization and management of document-based information. The company's
product line consists of both Web-centric and client-based modules that combine in a variety of
ways to assist corporations and individuals with easy identification of the information being sought.




                          Clearforest:
Clearforest provides an Internet infrastructure platform, powered by a patent pending technology,
which allows its customers to understand subject matter quickly by crystallizing information into
relevant knowledge. In response to a user query, the ClearForest platform generates a clear, single
screen interactive summary that delivers to the user the knowledge he or she was seeking. This
knowledge is extracted from various information sources, such as news feeds, Web pages, search
engine results and corporate databases.
Clearforest in many aspects resemble Vigil. Both are Israeli Startups, Have developed a tool for
searching business intelligence Information on the web, and use the same strategy to enter the
industry (Both major client are fortune 500 firms). The also price their product as a service rather
than a software.


Financial / business Information Portal:




These portals are a very good data source for fresh news and market analysis. Subscribers can look
for content calcified in to categories or to use the portal search engine. These portal gathers a lot of
information, however, the users have to look for the information in a traditional way rather than to
define their specific need and to be updated frequently.




                                                   23
Company Strategy
Vigil strategy is to capture a segment of the Business Information market. Vigil intends to achieve
this strategy utilizing the following:
    Targeted Firms: Fortune 1,000
    Pricing: Service Not Software
    ASP Model
    Outsourcing – Focus on Developing the technology
    Achieve a Critical Mass in the Industry
    Expand Service in Coordination with Market Demands


Targeted Firms – Fortune 1,000
Vigil‘s decision to target the Fortune 1,000 and other large, international firms is based on the
following reasons:
    The Business Intelligence industry is expected to grow rapidly within the next few years. The
    leaders of this trend are the large firms, who understand the added value their firms can achieve
    by gathering information ahead of its competitors.
    The large companies are the first to establish Business Information units within their companies
    and to allocate budgets for these units. After the second quarter of year 2000, 70% of the
    Fortune 500 firms had established Business Information Units.
    Large companies have the ability, knowledge, and experience to define their needs accurately.
    Vigil can use this information to develop a customer oriented product rapidly.
    Large companies have excellent promotional value for Vigil. Those companies historically use
    the best software and services. By servicing these companies, Vigil may assert itself as a major
    player in the industry. If you can service the ‗lions‘ than the market will respond well to their
    product.


E-Sense Pricing: Service Not Software
The organizational structure of the large firms and the budget allocation between the different units
within the company make it difficult for the Business Information unit manager to purchase
expensive software. By pricing e-sense as a service rather than software, managers can utilize this
product on a monthly basis without having to compete within their large software budget. This is
another example of Vigil adopting market needs into its business strategy.




                                                   24
ASP Model:
Business Information gathering is difficult for businesses, especially large corporations. Information
has to be stored and managed. In addition, a complex product such as e-Sense must be run on a
server that is managed closely and updated frequently. The Business Intelligence units do not have
the ability to manage these demands. In their eyes, another application to run is a tremendous
burden, from a personnel and computer resource standpoint. By using an Application Service
Provider the burden is removed, and only an applet is imposed on the company. This enables the
Business Information units to focus on their usual activities.


Outsourcing:
The value chain of Vigil consists of a number of links. These include: the research and development
of the product, running the application on servers, storing the information gathered, running
marketing apparatus, and running customer support services.


Vigil‘s advantage against its competitors is the ability to develop highly sophisticated algorithms for
gathering information from open Internet sources. The firm has no particular advantage in other
links of the value chain. Consequentially, the firm outsource these other activities to firms that
specialize in these areas.


Achieve Critical Mass in the Industry:
Vigil knows that as time precedes the competition in the industry will be keener. This is especially
true given the potential explosion in the industry. Therefore, it is essential for the company to
capture a share of the market. The goal is that Vigil‘s clients will gather information ahead of its
competitors and have better decision-making capabilities. If the market notices this advantage,
Vigil will have the opportunity to expand and establish itself as a leader in the industry.


To Expand the Service According to Market Demands:
Vigil‘s technology is not limited to the needs of large firms. Vigil plans to widen its service packages
as demand arises from other segments of the market. To date, only large firms are willing to pay for
the service. As the market grows, other firms and perhaps households will be interested in the
service. Vigil is planning to be ready for the market expansion.




                                                   25
Financial Model
Vigil‘s financial model is derived from its strategic game plan. This model consists of the following:
    Premium Service Product Pricing
    Target Large Firms
    Fee Per User Number and Usage Scope
    Achieving Critical Mass of Market Size
    Long Term Cash Flow Planning


Premium Service Product Pricing:
As a result of the market demand, Vigil priced e-Sense as a business intelligence service. The service
costs $5,000 to $20,000 per month depending on the number of users and the breadth of business
information monitored (see Table 1 below). As can be seen from the table, the net present value
(NPV) of the cash flow from a company using the product for a year is between $58,000 to
$233,000 per year (assuming 5% real interest). By assuming that the customers use the product for
longer periods the NPV of that cash flow is higher. The NPV for three years of product usage ranks
with the range of prices for other high value software (e.g. CheckPoint Fire Wall).




Table 2 Net present value of service cost

                   The Net Present Value of Service Cost

          Monthly                           Time of Product Usage (years)
          Income               1               2          3          4             5
           $5,000          $58,406          $113,969 $166,829 $217,115 $264,954
           $7,500          $87,609          $170,954 $250,243 $325,672 $397,430
          $10,000         $116,812 $227,939 $333,657 $434,230 $529,907
          $12,500         $146,015 $284,924 $417,071 $542,787 $662,384
          $15,000         $175,218 $341,908 $500,486 $651,344 $794,861
          $17,500         $204,421 $398,893 $583,900 $759,902 $927,337
          $20,000         $233,624 $455,878 $667,314 $868,459 $1,059,814
Comparison: clearforest service costs from $50,000 to $500,000 a year




                                                     26
Target Large Firms
The financial model is dependent on Vigil‘s ability to attract large firms. How much revenue
depends on the following:
    The number of clients
    The average income per client:
    The breath of Meta Topics used by the client
    The number of users
    The course of time the clients use the service


Fee Per User Number and Usage Scope:
The pricing of the service is very elastic, and is determined by two major factors: user number and
usage scope (the quantity of meta topics used). This pricing model enables firms to estimate the
benefit of the service before deciding how extensively to use it. It is also enables Vigil to offer their
clients different service package according to their preferences.


Achieving Critical Mass of Market Size:
As of January 2001, 75 companies are Vigil clients. Most are large firms from the Fortune 1,000 list.
According to Vigil CEO, Gidi Cohen, these companies do not pay the full price for e-Sense. Vigil
gives this discount to allow them to enter the market. The total revenue of the Business Intelligence
market at year 2000 is estimated at $1 billion. Assuming Vigil‘s average income per user is
approximately $5,000 per month, and the number of clients grows at a liner rate during the year, its
total revenue for year 2000 was about $2.5 million – less than a 0.25% of market share. The firm has
to achieve a larger share of the market.




                                                     27
      Long Term Cash Flow Planning:
      Sensitivity Analysis: Estimated Annual Income According to the Number of Clients and the
      Monthly Average Income Per Client

      Table 3 sensitive analysis – Estimated Annual Income

Sensitivity Analysis: Estimated Annual Income According to the Number of Clients and the
Monthly Average Income Per Client


  Number of                                     Monthly Average Income Per Client

   Clients        $5,000         $7,500      $10,000          $12,500      $15,000        $17,500      $20,000

     25        $1,500,000     $2,250,000    $3,000,000       $3,750,000   $4,500,000     $5,250,000   $6,000,000

     50        $3,000,000     $4,500,000    $6,000,000       $7,500,000   $9,000,000    $10,500,000   $12,000,000

     75        $4,500,000     $6,750,000    $9,000,000 $11,250,000        $13,500,000   $15,750,000   $18,000,000

     100       $6,000,000     $9,000,000 $12,000,000 $15,000,000          $18,000,000   $21,000,000   $24,000,000
     150       $9,000,000 $13,500,000 $18,000,000 $22,500,000             $27,000,000   $31,500,000   $36,000,000

     200       $12,000,000 $18,000,000 $24,000,000 $30,000,000            $36,000,000   $42,000,000   $48,000,000

     250       $15,000,000 $22,500,000 $30,000,000 $37,500,000            $45,000,000   $52,500,000   $60,000,000

     300       $18,000,000 $27,000,000 $36,000,000 $45,000,000            $54,000,000   $63,000,000   $72,000,000

     400       $24,000,000 $36,000,000 $48,000,000 $60,000,000            $72,000,000   $84,000,000   $96,000,000

     500       $30,000,000 $45,000,000 $60,000,000 $75,000,000            $90,000,000   $105,000,000 $120,000,000

     600       $36,000,000 $54,000,000 $72,000,000 $90,000,000 $108,000,000 $126,000,000 $144,000,000


      First stage: Low Average Income per client as a way to gain customers and to enter the market ($
      5,000 or less per month)
      Second stage: As vigil gains market power, the average income per client is relatively higher ($
      10,000 per month)
      Third stage: As vigil becomes a dominant player in the industry it has the ability to raise the service
      price ($12,500 - $15,000 per month)
      Forth stage: Vigils average price per client decline as the company seek to expand and to supply its
      service to midsize Fortune 1,000 firms.




                                                         28
S.W.O.T Model
Strength Points
   The technology: Vigil has a new, unique and very complicated technology for the gathering and
   the analysis and the classification of web Information. Vigil had a 2-3 year advantage over
   potential competitors.
   Customers: the company has major customers in worldwide scale, for example:
   PriceWaterhouseCoopers, an international company who specializes in legal and financial
   counseling. Such customers guarantee minimal income to Vigil, and in case they‘re satisfied they
   might improve the company‘s reputation and bring other customers. (see above)
   Successful capital raisings: The Company raised 5.5 million dollar in its second capital raising
   round. Polaris V.C. led the round; other investors are Chase Capital Partners and Seed Capital
   Partners, a Softbank investment house. This Capital would allow the company to establish its
   sales, marketing and support layout for its new leading product – E-Sense.
   Serious Investors: CheckPoint founders: Gil Schweid, Shlomo Kramer and Marius Nacht
   invested in the company, as well as Eucalyptus fund. Gidi Cohen, the company‘s CEO founded
   the company with the help of Shlomo Kramer, who is also a member in its BOD. Such list of
   investors might attract additional investors who might develop interest in the company because
   of the character of the investors, their reputation, and the assumption that such investors have
   good knowledge about the market and are able to estimate the potential of each company in the
   field.
   Product potential: The information service provided by the company is designated to three
   different segments. The variety of options available to the customer enables product selection
   and customization. The company‘s customers are satisfied and ranked the product as 80-100%
   relevant. The company‘s technology is more effective than those of others, and the service
   provided is high quality. E – sense is an effective way for companies to harness business
   information from the internet and other online sources to meet the needs of their user
   communities. From market researches who need highly-specific information on competitors and
   market conditions to portal site users who need to keep abreast of news in their industry, e-sense
   provides an offering that meets their needs/
   Focus: The Company focuses mainly in developing technology, it outsources the rest of the
   assignments required in order to provide the service. Exodus, for example, provides the
   company with server services, another company is responsible for gathering the information;
   this method allows Vigil to focus and specialize in creating technology.




                                                  29
   The company sales a service instead of a program, this pricing method based on the character of
   typical business budgeting. Since usually companies have a monthly BI budget, the monthly
   pricing gives vigil flexibility.
   The company has an ability to quickly respond to changes in the market, manifested by
   developing new products and updating present ones.
   The company holds trained and highly talented human resources in both marketing and R&D
   areas.


Weakness Points:
 Must Have or Nice to Have product: Vigils product (as for the beginning of 2001) is a Nice to
   Have product rather a Must Have product. As their service is not at the top of ―must have‖
   application in an organization, it is much more difficult to persuade firm to buy or even to try
   the service. As this market is fast changing the service might be a ―must have‖ within the next
   few years.
   Vigil is relatively small in comparison to international hi tech companies, hence the low level of
   exposure to the public.
   Difficulties in capital raising in the light of the current market situation.
   The company income is currently low, but expectations are to a sharp raise in sales and income,
   mainly because of the reputation created in Vigil major clients.
   The product can be imitated. The BI industry is diverse and there are many companies which
   provide information alike Vigil. A part of such companies provide it only on specific subjects
   and another part provides more extensive information. Vigil has to face such competition as well
   as competition from other business intelligence companies who gather information in
   accordance to the client request in the traditional means.
   Alike other companies, Vigil has to allocate more and more money to salary expenses in order to
   keep its workers.


Opportunities:
   Vigil targeted customers are Fortune 1000 companies. Vigil chose to concentrate on big
   companies who are active in various markets and in different countries and business fields. In
   case those customers are satisfied, Vigil reputation would flourish and other companies might
   become interested in Vigil‘s services.
   Market Growth: The software and computer markets in general and business intelligence market
   in particular have a significant growth potential. The Internet development led to an excessive


                                                   30
    amount of information to be available creating a growing difficulty to reach relevant
    information, hence it is reasonable to assume that more and more companies would hire
    information-providing services and the BI market share would be in consistent growth.


Threats:
    Competition: as explained below, there are big number of competitors in both the close and the
    wide business environment. Some of them compete in competitors analysis or certain specific
    information, while others, alike vigil, do not limit themselves to specific information. There is a
    very strong competition in the BI industry, and it is expected to increase in the light of the
    growing market share.
    Dynamic Environment: The dynamic character of the hi tech industry creates uncertainty about
    important factors such as: the demand for the product, the number of competitors, the
    company‘s ability to raise capital etc,. The Dynamic environment and changes can provide with
    opportunities, but the company must take into account uncertainty might create unexpected
    threats, which must be taken into account while planing the company‘s general strategy.
    The customers market of the company is relatively limited. The company limited its activity to
    major companies, as a result the customer number is very limited, giving those customers a good
    bargaining position and putting the company in a high dependency.


Our Personal View
Business intelligence industry has a significant growth potential. Businesses today experience great
difficulty in taking full advantage of the vast amount of knowledge and information that exists on
the Internet, and the corporation's need for technologies to efficiently control those amount of
information, would probably become more and more obvious.


The more companies use sophisticated means for business intelligence purposes, the more other
companies would be forced to use such as well, in order to avoid relative advantage, hence the
expected growth of the BI industry.


As mentioned above, the competition is the BI industry is fierce, and is expected to increase as the
industry develops. The competition together with the typical uncertainty of an emerging market
makes Vigil's future very hard to predict, especially because of its young age.




                                                   31
Vigil's strategy of focusing on major customers might prove itself successful by creating Vigil good
reputation and provide it with endless opportunities, but such strategy carries within itself grave
risks. The limited number of Vigil's customers makes Vigil very dependent on them; such
dependency makes every customer leaving a terrible trauma for the company.
However, it seems that Vigil strategy is right! First the look after the large companies which allocate
large budgets for Business Intelligence. The shift toward medium size companies is a simple as
Vigils technology is not limited to certain customer needs.
Vigils market share at the beginning of 2001 is 7.5% of fortune 1,000 firms. The next year or two
will be most critical for Vigil. If it succeed to capture its market share, especially the Fortune 1,000
market share, it will have the resources to sustain it self in the future. One way to check whether the
client are satisfied with the service is wait and see if they are willing to pay the full price for the
product after the trail period is over. During the last few months few companies had paid the check
for the service after using it for a while. This is a good sign for vigil


We believe that in the long rum only few firms – the strongest ones, will survive. It is a real
possibility that Vigil will merge or be acquisitioned. We think that it would be now surprise if Vigil
Would has 50% of Fortune 100 firms two years from now. Its superior technology and wise
alliances can do that ―job‖.




Bibiliography:
    1. Information from portals in the internet: ―Globs‖, ―Vigil‖, ―Egosurf‖,
        ―Vitalligence‖, ―Prompt‖, ―Software inc‖, ―Price Waterhouse Coopers‖, Articulent‖,
        Exodus‖, Verity‖, ―informage‖.
    2. Interviews with Gidi Cohen and Shlomo Kremer.
    3. Lecture about BI in the course ―Business Policy‖ in the Hebrew university.




                                                     32
  Appendices


                        Gidi Cohen
                      Shlomo Kramer           Ben Gilad
                      Aaron Mankovski         Advisory Board
                       Ofer Schochet


                         Gidi Cohen
                          President
                            CEO


Ofer Schochet   Mike Martini      Nir Doron       Jeff Bernard
Executive VP     VP Sales         VP R&D           VP MRKT


                                                 Joerg Laves
                                                   Director
                                                Customer Care




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