Month: August 2023

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Russell Investments Group Ltd. trimmed its holdings in shares of MongoDB, Inc. (NASDAQ:MDB – Free Report) by 1.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 47,229 shares of the company’s stock after selling 531 shares during the quarter. Russell Investments Group Ltd. owned 0.07% of MongoDB worth $11,002,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Bessemer Group Inc. bought a new position in MongoDB in the fourth quarter worth approximately $29,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of MongoDB during the 4th quarter worth $30,000. Global Retirement Partners LLC increased its stake in shares of MongoDB by 346.7% during the first quarter. Global Retirement Partners LLC now owns 134 shares of the company’s stock valued at $30,000 after buying an additional 104 shares during the period. Y.D. More Investments Ltd bought a new stake in shares of MongoDB in the fourth quarter valued at about $36,000. Finally, CI Investments Inc. lifted its stake in MongoDB by 126.8% in the fourth quarter. CI Investments Inc. now owns 186 shares of the company’s stock worth $37,000 after acquiring an additional 104 shares during the period. 89.22% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at MongoDB

In related news, Director Dwight A. Merriman sold 3,000 shares of the firm’s stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $285.34, for a total value of $856,020.00. Following the transaction, the director now directly owns 1,219,954 shares of the company’s stock, valued at approximately $348,101,674.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CRO Cedric Pech sold 360 shares of the business’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $406.79, for a total value of $146,444.40. Following the sale, the executive now directly owns 37,156 shares of the company’s stock, valued at approximately $15,114,689.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Dwight A. Merriman sold 3,000 shares of MongoDB stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $285.34, for a total value of $856,020.00. Following the completion of the sale, the director now directly owns 1,219,954 shares of the company’s stock, valued at $348,101,674.36. The disclosure for this sale can be found here. Insiders sold a total of 102,220 shares of company stock valued at $38,763,571 in the last three months. 4.80% of the stock is currently owned by company insiders.

MongoDB Stock Down 2.1 %

MongoDB stock opened at $351.17 on Friday. MongoDB, Inc. has a 52 week low of $135.15 and a 52 week high of $439.00. The firm has a market cap of $24.79 billion, a price-to-earnings ratio of -75.20 and a beta of 1.13. The business’s 50-day moving average price is $393.05 and its 200 day moving average price is $292.95. The company has a quick ratio of 4.19, a current ratio of 4.19 and a debt-to-equity ratio of 1.44.

MongoDB (NASDAQ:MDB – Get Free Report) last posted its earnings results on Thursday, June 1st. The company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.38. The firm had revenue of $368.28 million during the quarter, compared to analysts’ expectations of $347.77 million. MongoDB had a negative net margin of 23.58% and a negative return on equity of 43.25%. The business’s revenue was up 29.0% compared to the same quarter last year. During the same period in the previous year, the business posted ($1.15) EPS. As a group, sell-side analysts anticipate that MongoDB, Inc. will post -2.8 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on MDB. Piper Sandler upped their price target on shares of MongoDB from $270.00 to $400.00 in a research report on Friday, June 2nd. VNET Group reaffirmed a “maintains” rating on shares of MongoDB in a research report on Monday, June 26th. 22nd Century Group reissued a “maintains” rating on shares of MongoDB in a research report on Monday, June 26th. Robert W. Baird lifted their target price on MongoDB from $390.00 to $430.00 in a research note on Friday, June 23rd. Finally, 58.com reissued a “maintains” rating on shares of MongoDB in a research report on Monday, June 26th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $378.09.

Read Our Latest Research Report on MongoDB

MongoDB Company Profile

(Free Report)

MongoDB, Inc provides general purpose database platform worldwide. The company offers MongoDB Atlas, a hosted multi-cloud database-as-a-service solution; MongoDB Enterprise Advanced, a commercial database server for enterprise customers to run in the cloud, on-premise, or in a hybrid environment; and Community Server, a free-to-download version of its database, which includes the functionality that developers need to get started with MongoDB.

See Also

Want to see what other hedge funds are holding MDB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MongoDB, Inc. (NASDAQ:MDB – Free Report).

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Article originally posted on mongodb google news. Visit mongodb google news

Posted on mongodb google news. Visit mongodb google news

Weiss Asset Management LP lessened its holdings in shares of MongoDB, Inc. (NASDAQ:MDB – Free Report) by 33.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,856 shares of the company’s stock after selling 920 shares during the period. Weiss Asset Management LP’s holdings in MongoDB were worth $433,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of MDB. Raymond James & Associates increased its position in MongoDB by 32.0% during the 1st quarter. Raymond James & Associates now owns 4,922 shares of the company’s stock valued at $2,183,000 after buying an additional 1,192 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of MongoDB by 19.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,282 shares of the company’s stock worth $569,000 after purchasing an additional 206 shares during the last quarter. MetLife Investment Management LLC purchased a new stake in MongoDB during the 1st quarter valued at about $1,823,000. Panagora Asset Management Inc. lifted its stake in shares of MongoDB by 9.8% in the first quarter. Panagora Asset Management Inc. now owns 1,977 shares of the company’s stock worth $877,000 after buying an additional 176 shares in the last quarter. Finally, Vontobel Holding Ltd. raised its holdings in MongoDB by 100.3% in the 1st quarter. Vontobel Holding Ltd. now owns 2,873 shares of the company’s stock worth $1,236,000 after acquiring an additional 1,439 shares during the last quarter. 89.22% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CRO Cedric Pech sold 360 shares of the company’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $406.79, for a total transaction of $146,444.40. Following the transaction, the executive now owns 37,156 shares of the company’s stock, valued at $15,114,689.24. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CRO Cedric Pech sold 360 shares of the firm’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $406.79, for a total value of $146,444.40. Following the transaction, the executive now owns 37,156 shares of the company’s stock, valued at approximately $15,114,689.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Dev Ittycheria sold 20,000 shares of the company’s stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $287.32, for a total transaction of $5,746,400.00. Following the completion of the transaction, the chief executive officer now owns 262,311 shares in the company, valued at $75,367,196.52. The disclosure for this sale can be found here. Insiders sold a total of 102,220 shares of company stock valued at $38,763,571 over the last 90 days. Insiders own 4.80% of the company’s stock.

MongoDB Price Performance

Shares of NASDAQ:MDB traded down $1.87 on Friday, reaching $349.30. The company’s stock had a trading volume of 161,740 shares, compared to its average volume of 1,698,974. The company has a 50-day simple moving average of $393.05 and a 200 day simple moving average of $292.95. The company has a debt-to-equity ratio of 1.44, a quick ratio of 4.19 and a current ratio of 4.19. MongoDB, Inc. has a 52-week low of $135.15 and a 52-week high of $439.00. The company has a market cap of $24.65 billion, a P/E ratio of -74.07 and a beta of 1.13.

MongoDB (NASDAQ:MDB – Get Free Report) last released its quarterly earnings results on Thursday, June 1st. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.38. MongoDB had a negative return on equity of 43.25% and a negative net margin of 23.58%. The company had revenue of $368.28 million for the quarter, compared to analyst estimates of $347.77 million. During the same quarter in the prior year, the firm posted ($1.15) EPS. MongoDB’s quarterly revenue was up 29.0% compared to the same quarter last year. As a group, equities research analysts anticipate that MongoDB, Inc. will post -2.8 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

MDB has been the subject of several recent analyst reports. Mizuho boosted their price target on MongoDB from $220.00 to $240.00 in a research note on Friday, June 23rd. William Blair reissued an “outperform” rating on shares of MongoDB in a report on Friday, June 2nd. Truist Financial raised their target price on shares of MongoDB from $365.00 to $420.00 in a report on Friday, June 23rd. 58.com reiterated a “maintains” rating on shares of MongoDB in a research note on Monday, June 26th. Finally, The Goldman Sachs Group raised their price target on MongoDB from $420.00 to $440.00 in a research note on Friday, June 23rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $378.09.

Check Out Our Latest Report on MDB

MongoDB Company Profile

(Free Report)

MongoDB, Inc provides general purpose database platform worldwide. The company offers MongoDB Atlas, a hosted multi-cloud database-as-a-service solution; MongoDB Enterprise Advanced, a commercial database server for enterprise customers to run in the cloud, on-premise, or in a hybrid environment; and Community Server, a free-to-download version of its database, which includes the functionality that developers need to get started with MongoDB.

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Article originally posted on mongodb google news. Visit mongodb google news

Posted on mongodb google news. Visit mongodb google news

TEMPO.CO, Jakarta – Kepala Ekonom PT Bank Permata Tbk Josua Pardede membeberkan tantangan pertumbuhan ekonomi tahun depan yang ditargetkan tumbuh 5,2 persen. Target pertumbuhan ekonomi itu disampaikan oleh residen Joko Widodo alias Jokowi .

“Tantangan dari Indonesia di tahun depan di antaranya adalah perlambatan ekonomi Cina, yang diperkirakan sudah mulai terjadi di tahun ini, serta potensi normalisasi harga komoditas,” ujar Josua saat dihubungi pada Rabu, 16 Agustus 20023.

Menurut Josua, meski investasi diperkirakan meningkat pasca Pemilu, namun perlu dilihat seberapa signifikan rebound dari komponen investasi di tahun depan. Selain itu, tantangan yang akan dihadapi di 2024 mendatang adalah potensi peningkatan inflasi pangan dampak fenomena El Nino. 

Puncak dari fenomena alam itu diperkirakan terjadi pada Agustus-September 2023. “Pemerintah perlu memitigasi risiko peningkatan inflasi pangan sedemikian sehingga ekspektasi inflasi dapat terjangkar,” ucap Josua.

Jika pemerintah dapat memitigasi risiko tersebut, Josua melanjutkan, maka inflasi 2024 diperkirakan akan terkendali dalam kisaran 3,0-3,5 persen. Sementara soa. asumsi nilai tukar rupiah di level 15.000 per US$ juga diperkirakan cukup rasional mempertimbangkan iklim investasi yang baik.

“Serta kondisi eksternal dari bank sentral global yang bepotensi mempertimbangkan untuk memangkas suku bunga bank sentral di tahun 2024 mendatang,” tutur dia.

Rupiah diperkirakan sekitar Rp 15 ribu pada tahun depan

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Article originally posted on mongodb google news. Visit mongodb google news

Posted on mongodb google news. Visit mongodb google news

Let’s talk about the popular MongoDB, Inc. (NASDAQ:MDB). The company’s shares led the NASDAQGM gainers with a relatively large price hike in the past couple of weeks. As a large-cap stock with high coverage by analysts, you could assume any recent changes in the company’s outlook is already priced into the stock. However, what if the stock is still a bargain? Let’s take a look at MongoDB’s outlook and value based on the most recent financial data to see if the opportunity still exists.

See our latest analysis for MongoDB

Is MongoDB Still Cheap?

MongoDB appears to be overvalued by 38% at the moment, based on my discounted cash flow valuation. The stock is currently priced at US$351 on the market compared to my intrinsic value of $254.15. This means that the opportunity to buy MongoDB at a good price has disappeared! If you like the stock, you may want to keep an eye out for a potential price decline in the future. Given that MongoDB’s share is fairly volatile (i.e. its price movements are magnified relative to the rest of the market) this could mean the price can sink lower, giving us another chance to buy in the future. This is based on its high beta, which is a good indicator for share price volatility.

What does the future of MongoDB look like?

Investors looking for growth in their portfolio may want to consider the prospects of a company before buying its shares. Although value investors would argue that it’s the intrinsic value relative to the price that matter the most, a more compelling investment thesis would be high growth potential at a cheap price. MongoDB’s earnings over the next few years are expected to increase by 43%, indicating a highly optimistic future ahead. This should lead to more robust cash flows, feeding into a higher share value.

What This Means For You

Are you a shareholder? It seems like the market has well and truly priced in MDB’s positive outlook, with shares trading above its fair value. At this current price, shareholders may be asking a different question – should I sell? If you believe MDB should trade below its current price, selling high and buying it back up again when its price falls towards its real value can be profitable. But before you make this decision, take a look at whether its fundamentals have changed.

Story continues

Are you a potential investor? If you’ve been keeping tabs on MDB for some time, now may not be the best time to enter into the stock. The price has surpassed its true value, which means there’s no upside from mispricing. However, the positive outlook is encouraging for MDB, which means it’s worth diving deeper into other factors in order to take advantage of the next price drop.

So if you’d like to dive deeper into this stock, it’s crucial to consider any risks it’s facing. You’d be interested to know, that we found 4 warning signs for MongoDB and you’ll want to know about them.

If you are no longer interested in MongoDB, you can use our free platform to see our list of over 50 other stocks with a high growth potential.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Article originally posted on mongodb google news. Visit mongodb google news

Posted on mongodb google news. Visit mongodb google news

MongoDB has secured certification from Australia’s Information Security Registered Assessor Program (IRAP) that will enable federal government agencies to use its Atlas multicloud database service for workloads that deal with classified information.

The certification provides the assurance that Atlas has the appropriate security controls in place to process, store and transmit information classified up to, and including, the protected level. 

Most Australian government agencies currently use MongoDB on-premise. MongoDB said the IRAP certification will now enable them to use Atlas’s multi-cloud infrastructure and take advantage of embedded encryption, text-based and generative AI based search, and stream processing for high-volume, high-velocity data to build modern applications with less complexity.

“Government agencies are expected to offer citizens flawless and secure digital services, as well as easier ways to engage with government entities,” said Simon Eid, senior vice-president of Asia-Pacific at MongoDB.

“Internally, teams are pressured to make data-driven decisions that are accurate and timely, while improving efficiency without jeopardising security. Legacy database models have become a real hindrance and government agencies are looking at new ways to build and deliver the government services of tomorrow.

“Now, with the completion of the IRAP assessment, government agencies in Australia can empower their development teams to build new classes of applications that reimagine citizen experiences using MongoDB Atlas. We think this will actively contribute to Australia’s reaching its goal of being the most cyber-secure nation in the world by 2030,” he added.

With MongoDB Atlas, organisations can store and synchronise data on multiple public clouds at the same time rather than on a single provider to ensure high levels of resilience for government services. Its multi-region capability also allows organisations to use multiple cloud regions within the same geography, making applications more resilient while meeting data sovereignty requirements.

The company recently introduced Queryable Encryption, an encryption scheme that lets organisations search for and return encrypted data that is visible to application users only when it is decrypted with customer-controlled cryptographic keys. The data remains encrypted in-use throughout the query process, in-transit over networks, and at-rest in storage.

MongoDB has been driving skills development and investing in local manpower in a bid to expand its Australia and New Zealand business, which has been growing at around 20%. It has more than 1,200 local customers, including Bendigo & Adelaide Bank, Ticketek and Humanitix.

Article originally posted on mongodb google news. Visit mongodb google news

Posted on mongodb google news. Visit mongodb google news

MongoDB, Inc. , today at its developer conference MongoDB.local Chicago, announced the general availability of MongoDB Queryable Encryption, a first-of-its-kind technology that helps organizations protect sensitive data when it is queried and in-use on MongoDB. MongoDB Queryable Encryption significantly reduces the risk of data exposure for organizations and improves developer productivity by providing built-in encryption capabilities for highly sensitive application workflows—such as searching employee records, processing financial transactions, or analyzing medical records—with no cryptography expertise required. To get started with MongoDB Queryable Encryption, visit mongodb.com/products/capabilities/security/encryption.

“Protecting data is critical for every organization, especially as the volume of data being generated grows and the sophistication of modern applications is only increasing. Organizations also face the challenge of meeting a growing number of data privacy and customer data protection requirements,” said Sahir Azam, Chief Product Officer at MongoDB. “Now, with MongoDB Queryable Encryption, customers can protect their data with state-of-the-art encryption and reduce operational risk—all while providing an easy-to-use capability developers can quickly build into applications to power experiences their end-users expect.”

Data protection is the top priority among organizations across industries today as they face a growing number of regulations and compliance requirements to protect personally identifiable information (PII), personal health information (PHI), and other sensitive data. A common data protection capability organizations use to protect data is encryption, where sensitive information is made unreadable by cryptographic algorithms using an encryption key—and only made readable again using a decryption key customers securely manage. Data can be protected through encryption in-transit when traveling over networks, at-rest when stored, and in-use when it is being processed. However, working with encrypted data in-use poses significant challenges because it needs to be decrypted before it can be processed or analyzed.  Organizations that work with highly sensitive data want to improve their security posture and meet compliance requirements by encrypting their data throughout its full lifecycle—including while it is being queried. Until now, the only way to keep information encrypted during the entire lifecycle was to employ highly specialized teams with extensive expertise in cryptography.

With the general availability of MongoDB Queryable Encryption, customers can now secure sensitive workloads for use cases in highly regulated or data sensitive industries like financial services, health care, government, and critical infrastructure services by encrypting data while it is being processed and in-use. Customers can quickly get started protecting data in-use by selecting the fields in MongoDB databases that contain sensitive data that need to be encrypted while in-use. For example, an authorized application end-user at a financial services company may need to query records using a customer’s savings account number. When configured with MongoDB Queryable Encryption, the content of the query and the data in the savings account field will remain encrypted when traveling over the network, while it is stored in the database, and while the query processes the data to retrieve relevant information. After data is retrieved, it becomes visible only to an authorized application end user with a customer-controlled decryption key to help prevent inadvertent data exposure or exfiltration by malicious actors. With MongoDB Queryable Encryption, developers can now easily implement first-of-its-kind encryption technology to ensure their applications are operating with the highest levels of data protection and that sensitive information is never exposed while it is being processed—significantly reducing the risk of data exposure.

The MongoDB Cryptography Research Group developed the underlying encryption technology behind MongoDB Queryable Encryption, which is open source. Organizations can freely examine the cryptographic techniques and code behind the technology to help meet security and compliance requirements. MongoDB Queryable Encryption can be used with AWS Key Management Service, Microsoft Azure Key Vault, Google Cloud Key Management Service, and other services compliant with the key management interoperability protocol (KMIP) to manage cryptographic keys. The general availability of MongoDB Queryable Encryption includes support for equality queries, with additional query types (e.g., range, prefix, suffix, and substring) generally available in upcoming releases.

Since the release of MongoDB Queryable Encryption in preview last year, MongoDB has worked in partnership with customers including leading financial institutions and Fortune 500 companies in the healthcare, insurance, and automotive manufacturing industries to fine-tune the service for general availability.

Renault Group is at the forefront of a mobility that is reinventing itself. Strengthened by its alliance with Nissan and Mitsubishi Motors, and its unique expertise in electrification, Renault Group comprises four complementary brands—Renault, Dacia, Alpine, and Mobilize—offering sustainable and innovative mobility solutions to its customers. “MongoDB Queryable Encryption is significant for ensuring data protection and security compliance,” said Xin Wang, Solutions Architect at Renault. “Our teams are eager for the architecture pattern validation of Queryable Encryption and are excited about its future evolution, particularly regarding performance optimization and batch operator support. We look forward to seeing how Queryable Encryption will help meet security and compliance requirements.”

Article originally posted on mongodb google news. Visit mongodb google news

Posted on mongodb google news. Visit mongodb google news

This week Golioth has announced the general availability of two new output stream destinations: MongoDB Time Series and InfluxDB. Briefly, Output Streams allows developers to send device events captured in the Golioth platform backend to any cloud. Developers can now stream IoT device data directly into these popular databases, eliminating the need for additional backend APIs to ingest data. This expansion allows new integration possibilities, bringing more flexibility and efficiency to IoT data handling.

Databases Designed for IoT Scale

Golioth aims to address a broad range of IoT applications with diverse requirements of various remote sensing applications. Sensor data, by nature, is time series data – it is collected at regular intervals and can be valuable when observed over time for trends and patterns. Golioth has partnered with MongoDB and InfluxDB to deliver better integrations and more flexibility for IoT developers when capturing time series data.

MongoDB Time Series and InfluxDB are databases specifically designed for this data type.

MongoDB Time Series is a type of collection specifically designed for this kind of data. It is a powerful extension of MongoDB’s general purpose database, specifically tailored for time-series data. Its strength lies in its built-in capabilities for handling large-scale, high-throughput, and complex querying scenarios. With this, storing and analyzing time-series data becomes effortless, making it ideal for IoT use cases.

InfluxDB is a high-performance data store purpose-built for time-series data. Written in Rust and leveraging the Apache Arrow ecosystem, InfluxDB supports high throughput data ingestion, utilizes Apache Parquet for superior data compression, and delivers real-time querying. This makes InfluxDB ideal for handling the high write and query workloads associated with large IoT deployments.

Expanding IoT Data Integration Possibilities

Golioth aims to streamline the path from idea to deployment in IoT development. Adding MongoDB Time Series and InfluxDB to the Golioth output streams feature is a major milestone, enhancing how developers can route IoT data directly to their preferred databases.

“The ability to stream IoT data to multiple destinations like MongoDB and GCP PubSub makes Golioth super powerful. It allows for a separation of concerns, which means cloud teams can change database or infrastructure providers without firmware teams being impacted,” explains Dylan Swartz, Head of Product at Golioth.

For developers already using MongoDB Time Series or InfluxDB, this update allows for a seamless flow of information from IoT devices to databases, unifying the tech stack and simplifying the development experience.

With the incorporation of these new output streams, Golioth is now supporting a broader spectrum of use cases in their quest to accelerate the journey from prototype to production.

Learn More about Output Streams

Developers can get started with MongoDB Time Series and InfluxDB output streams by following the guides in Golioth’s documentation:

To understand more about output streams, how they work, and why they’re beneficial to IoT projects, Golioth has written about their output streams feature on their blog.

For Help and Database Support

If developers have questions or need help getting started with MongoDB Time Series or InfluxDB output streams, Golioth provides active support on their community forum.

For developers using a different database who would like to connect to Golioth, please contact Golioth at research@golioth.io. Feedback will be used by Golioth to prioritize support for other database output streams in the future.

Article originally posted on mongodb google news. Visit mongodb google news

Article originally posted on InfoQ. Visit InfoQ

Recently AWS announced the general availability of faster standard retrievals from S3 Glacier Flexible Retrieval. According to the company, the retrieval can be up to 85% faster and applies to the Standard retrieval tier when using S3 Batch Operations.

Earlier, the company improved restore throughput by up to 10 times for Amazon S3 Glacier and S3 Glacier Deep Archive. In addition, by utilizing Amazon S3 Batch Operations, it’s possible to automatically initiate requests faster, allowing organizations to restore billions of objects containing petabytes of data.

Channy Yun, a Principal Developer Advocate for AWS, explains in an AWS news blog post:

Using S3 Batch Operations, you can restore archived data at scale by providing a manifest of objects to be retrieved and specifying a retrieval tier. With S3 Batch Operations, restores in the Standard retrieval tier now typically begin to return objects to you within minutes, down from 3–5 hours, so you can easily speed up your data restores from archive.

Result of a sample retrieval job with 250 objects, each sized 100 MB (Source: AWS News Blog)

Users can access the S3 Batch Operations through the AWS Management Console, AWS Command Line Interface (AWS CLI), SDKs, or REST API.

An example of a restore job with an S3InitiateRestoreObject job using the AWS CLI will look like this:

$aws s3control create-job 

     --region us-east-1 

     --account-id 123456789012 

     --operation '{"S3InitiateRestoreObject": { "ExpirationInDays": 1, "GlacierJobTier":"STANDARD"} }' 

     --report '{"Bucket":"arn:aws:s3:::reports-bucket ","Prefix":"batch-op-restore-job", "Format":" S3BatchOperations_CSV_20180820","Enabled":true,"ReportScope":"FailedTasksOnly"}' 

     --manifest '{"Spec":{"Format":"S3BatchOperations_CSV_20180820", "Fields":["Bucket","Key"]},"Location":{"ObjectArn":"arn:aws:s3:::inventory-bucket/inventory_for_restore.csv", "ETag":""}}' 

     --role-arn arn:aws:iam::123456789012:role/s3batch-role

As shown above, S3 Batch Operations job activity is recorded as events in AWS CloudTrail. For tracking job events, users can create a custom rule in Amazon EventBridge and send these events to the target notification resource of their choice, such as Amazon Simple Notification Service (Amazon SNS).

Gy Panday, a senior Product Manager of Amazon S3 Glacier at AWS, mentions in an AWS Tutorials & Demos video another benefit of the S3 Glacier performance improvement:

Even your large workloads can now benefit from higher throughput available from restores in minutes.

Other public cloud providers like Microsoft and Google offer similar services like S3 Glacier. For instance, Azure Archive Blob Storage, yet that tier doesn’t provide fast retrievals capabilities. In comparison, the Google Cloud offers Storage Nearline storage class, a low-cost, highly durable storage service for data archiving, online backup, and disaster recovery that does provide fast retrieval.

Faster standard retrievals for Amazon S3 Glacier Flexible Retrieval are currently available in all AWS Regions, including the AWS GovCloud (US) Regions and China Regions, at no additional cost – only a charge for S3 Batch Operations and data retrievals applies (details on the S3 pricing page under the Requests & data retrievals section).

Article originally posted on InfoQ. Visit InfoQ

Transcript

The Prior’s Plague Episodes

Rebecca Parsons: My name is Rebecca Parsons. I’m here to talk to you about our journey to hybrid and remote working throughout the pandemic. I want to start with a story that comes from a science fiction television series called Stargate SG-1. In one of these episodes, the team has brought back a plague from another planet. What I found interesting was my different reaction to this episode, from when I had seen it the first time, I had watched the series.

Like many during the pandemic, I rewatched, I binge watched a lot of series that I had on DVD or was able to stream. The first time I saw this, I thought it was intellectually interesting to learn about the kinds of factors they talk about in terms of spread and the mitigations that are put into place to try to stop the spread. When I saw it a second time, I reacted to it much differently, because I had seen all of those things in the early days of the pandemic. This had become a part of our lives looking at, how is the disease spreading? What are the death counts? What are the infections? How are the hospitals doing?

All of those things that were a part of my day-to-day reality were playing out in this television episode. I responded to it in a different way. Rather than just looking at it clinically and scientifically, and, isn’t this interesting? I felt a different kind of kinship with the characters. I was reading quite recently something from The New York Times when they were talking about people’s reactions over the course of the pandemic, and how we look back at those earlier days, and are still really trying to process.

Relevant Background

First, some relevant information about my company. The first is, we’re a services firm. We primarily work on our clients’ premises, or in our own offices if we have our delivery centers. We are firmly rooted in the practices of agile software development, and in particular, those from extreme programming. Many of those practices are heavily rooted in having people in the same place. However, since the early 2000s, we’ve been widely geographically distributed, and so we’ve had to develop the techniques of distributed agile.

Pre-pandemic, we had had projects that were actually taking place on multiple continents in multiple time zones. I believe the most heavily distributed was one that was between Bangalore, India, London, a suburb of London called Hemel Hempstead, and Toronto, Canada. Although we are firmly committed to agile, we have extensive experience working in a distributed fashion, even though in those different locales, those teams were still colocated.

Finally, unlike many of our competitors, we actually have a significant presence in China, and so we started to feel the impacts in our business earlier than many other companies did, just because of our presence in China. I went back through my email and the earliest reference that I have to some specific impact was January 22, 2020, which is when our Wuhan office was closed. We have several offices in China, Wuhan is just one. Obviously, it spread from there. Our Wuhan office was the first to close. Shortly after that, I was in the very last face-to-face that I would attend for a long time. This was in San Francisco, California from February 26th to the 27th. One of the people on that team actually could not make it, because she lives in China. The lockdown in terms of people from China had already begun. Within the next couple of weeks, we went fully remote.

Early Principles

When I look at this from the perspective of how we ran our business during that time, we came up with some key principles. The first being, first and foremost, we want to keep our Thoughtworkers safe, and our clients safe. That was principle number one. The second was then to protect our business, and do what we could to continue to support our clients in their own success, to the highest standards possible. Then, finally, we wanted to do whatever we could to help mitigate the spread within the communities, because that way we could protect the most vulnerable.

Confusing Time

Those first several weeks were confusing. I ended up getting stuck outside Charleston, South Carolina. I had been on my way to speak at a conference in London, actually, and the organizers kept saying, “No, we’re going to do this in-person.” As it got closer, I was having conversations with my CEO about whether or not I should say, “No, I can’t come.” It was only a couple of days before that the organizers said, “We’re going to go fully remote. Let’s set up some time for you to be able to record your session.”

I was in South Carolina because I happened to be stopping by on my way to London, to visit a friend. I was fortunate in that I was sheltering in place, but with a friend. I wasn’t by myself as so many people were. It also allowed us to do things like have only one person go to the grocery store to feed two people. It was a confusing time. Very early in the pandemic, we actually had one of our Thoughtworkers succumb to the virus. She lived in New York City. Because we were so geographically distributed, we had people who were at client sites scattered literally across the globe.

Helping people get home safely, and understand even where everybody was, was a major logistical undertaking. It resulted in us having to turn our whole notion of distributed agile up to 11, because now it wasn’t just you had teams in different places, but you had individuals in different places. Many of the practices, as I said, within agile still assumed that at least the team and individual site was together. Now we had to figure out, how do we do this when no one is in the same place? We had clients reacting in myriad ways. Some were a bit slower to shut things down. Others shut things down pretty much immediately.

As time went on, some of them actually started to bring people back depending on where they were located. Many with mask mandates. I recall doing several Zoom calls with clients where because they are in a big room, they’re sitting there with a mask on. I’m sitting in my office or in my friend’s house, depending on how early it was in the pandemic, obviously without a mask. Those times were in fact quite confusing for lots of people.

Survey in China

Later on, but still relatively early in the pandemic, we actually did a survey of our folks in China to try to see how they were adapting. The first thing is most people felt a real improvement in productivity. They felt actually, that being in their home was making them more effective. However, many of them said a lot of it had to do with the fact that they didn’t have to commute. I don’t know how many of you are familiar with traffic in cities like Beijing, China. This can be a non-trivial undertaking to try to commute within China. We also found out that people’s response to this question definitely varied based on their home situation. Even though we all can imagine things like, how many different people are trying to get at the wireless, or how many quiet spaces do you have?

One of the big items was the chair. In fact, one of the things that we did was institute a working from home equipment policy where people could do things like upgrade their chairs, because of how important being comfortable and being able to sit for long periods of time is to productivity when you were working in isolation like this. Because, think of your typical day in an office, you’ve got people coming up to you. You’ll stand up to talk to them. You might walk over to somebody else’s table. When you’re working by yourself, mostly it’s trips to get another cup of coffee, or, frankly, to use the bathroom. You don’t move around nearly as much. We all know how important comfortable work chairs are in an office, they’re even more important in a home office.

Leadership Changes

From a leadership perspective, what kinds of things were different? As I said, initially, we are widely geographically distributed, and we don’t really have a home office or a central office. Our CFO is in London. Our CEO is in Chicago. I’m in Seattle. We’ve got people scattered, and so, many of our leadership meetings had already been remote. That didn’t necessarily change per se. Although we didn’t have the opportunity to refresh those relationships with face-to-face meetings.

We also did have one relatively new member of our senior leadership team, our chief marketing officer, who actually, although she had met several of us in person individually, had never been to an actual group meeting because of the timing of when she started. Our approach to meetings, though, did change in part to allow people to express the anxiety that they were feeling. I will admit that for me, much like my father before me, Zoom meetings, telephone calls, these are transactions. I used to joke, my dad would very often forget to say goodbye before he hang up on the telephone because it was a transactional device.

Given the fact that we didn’t have opportunities to meet with people, face-to-face, have those little water cooler chats and such. We had to be more intentional about introducing time into meetings to help people express their anxiety, rejoice in the fact that everybody was still there. Even though we were used to having remote meetings, we did have to change them up a little bit to account for this. Mental health and employee support became paramount. This wasn’t just for our individual employees. It was also important for our leaders. We had to make sure that we were taking enough care of ourselves that we could make the space for others to be able to express their anxiety.

I often would allocate the first 5 minutes or so, particularly in my one-on-ones, to just let people talk about where they were. We had people with young children at home, who were really struggling with, how do I do all of this work when I don’t have childcare available anymore? There were all different kinds of pressures that were put on people when they were at home.

Yes, there are advantages, like the folks in China expressed, on not having to waste time commuting. Let’s face it, many people don’t really worry that much about what they wear when they’re on Zoom all day. There were other challenges, and so we needed to make sure that we had the support systems in place for the mental health of ourselves and the rest of our employees.

Onboarding new people, particularly in such a people-focused organization as a consulting company is, is really hard. We brought one person, not on the top senior leadership team, but definitely in a global position, and she never met anyone in person for the first 18 months of her employment. We have a very strong culture, and trying to understand a culture when you can’t just plop down and have a cup of coffee, or a glass of wine with somebody, that’s really challenging. We had to figure out how to onboard not just operations people, but professional services people who would join our teams, and begin to work with other Thoughtworkers in solving our clients’ problems. Figuring out how to do that without being able to sit down and talk to somebody is a challenge.

New Ways of Working

We had to develop new ways of working. Obviously, remote pairing. We were not going to give up on the practice of pairing. One of the things that we found, however, is that the different tools available to support remote pairing, we couldn’t come up with one that was universally desired. We ran pilots. For many people, pairing over Zoom was just fine. For others, they wanted more specialized tools. A lot of it came down to what their bandwidth was.

Zoom actually did a pretty good job of remote pairing, even in lower bandwidth situations. Some of the other tools that were more advanced, actually took more bandwidth. Understanding the working conditions of the individuals on a team was important. Another thing, as we got further into the pandemic, is thinking about remote-first meetings. Even if you do have some people together, having everybody on their own computer with their own Zoom session, even if you had people in the same room, helped make the people who were not in the room feel more engaged.

That was very important when you were trying to reestablish connections, because if you’ve got a group of people sitting in a room, and they’re all chatting amongst themselves, and you’ve got a couple of people whose faces are up there on the room screen, and they’re frantically waving, trying to get some attention. That isn’t a good way to help people feel like they belong, that they’re included. When we started getting people back into rooms, which happened at various times in different countries and in different cities, and then sometimes they would be doing that for a while and then go back home. This remote-first meeting was an important aspect of helping people feel like they still belonged.

We spent a lot of time thinking on how to recreate those information-specific and location-specific information radiators, because that was one of the big things we gave up. Think, in an agile delivery center, you’re going to have cards all over the wall, and people are going to come up and they’re going to move them around. They’re going to interact and everybody can see where things are at. Yes, we now have virtual card walls, but there are other kinds of things that have to be facilitated. That’s where tools like Mural and Miro and some of these remote whiteboards started to come into account. You had some way of simulating that, ok, everybody go put stickies up on the wall, and then we’ll move them around and group them and cluster them.

For each of our ceremonies and rituals and facilitation techniques, we had to look at, how can we make this work when we don’t have a wall, or we don’t have a whiteboard? A lot of effort has gone into thinking about, how do we actually facilitate these remote sessions? We also started to reimagine what was possible. We actually did an acquisition that was almost completely remote. In fact, the only face-to-face meeting happened right at the very end. Because there was just that level of discomfort, do we really want to do this when we’ve not met anybody in person? I think now, we would be over that.

Acquisitions are not something that come naturally to Thoughtworks. We’ve only done five in our entire existence. One was back in the early 2000s. That didn’t necessarily go as well as we would have liked. This second one we did at the beginning of the pandemic, was literally only our second. I think now we would feel much more comfortable doing even something like an acquisition completely remotely.

Now, it’s Hybrid

What’s it like now? It’s hybrid. It differs across clients. It differs across cities and countries. Many of our clients in the U.S. and Europe are still mostly remote. They haven’t asked us to come back into their offices or our offices in any large numbers. Certain things are now again done face-to-face, but for the most part, most things are still remote. Throughout the pandemic, we were convincing our clients, many of whom would never let us work anywhere except their offices. It was, if we can’t see you, you can’t do work for us. Of course, when the pandemic struck, they had to get over that.

Clients that used to be very skeptical of things like nearshoring and offshoring started to see that that was an alternative. From our staffing perspective, it made it so much easier for us to make particular specialists available, because all you had to worry about was time zones. Client attitudes had to evolve very quickly, because they were faced with the prospect of just having to end programs that were very important to them or accept the fact, ok, we’re going to have to deal with remote working.

We are now back in a situation where some of our internal meetings are face-to-face. Depending on the timing, and we started these back in March of last year, we would have daily testing regimes. It was on the honor system, people were allowed to do it in their rooms. We wanted people to be able to feel comfortable. Masks, depending on the city, were optional. We were testing every day.

Unfortunately, in a couple of cases, we did have somebody come down with the virus. I believe the worst number that I heard was a third of the people who attended the meeting, did ultimately come down with COVID because somebody tested positive on the day after the meeting when they were getting ready to travel back. Over the next few days, there were I think a total of four who came down with COVID at that. It certainly wasn’t a super spreader. That is the risk that you run in a situation like that.

Conference experiences are still mixed. I attended the Web Summit in Lisbon, actually, in late 2021. They had requirements for proof of vaccination. If you weren’t from Europe, so you didn’t have the European validation app, you actually had to have a test result every 48 hours to attend. There were, I think it was on the order of 15,000 to 20,000 people there, and I never heard of that as a super spreader event. They had very rigid protocols around keeping masks on. For the most part, people followed those.

We’ve seen other conferences where their first foray back into face-to-face, they had maybe 50% of the people that they were expecting. Some conferences are actually going hybrid, like this one, where you do have the possibility for online attendance or face-to-face attendance. That’s actually becoming a more common model.

One of the things also we learned during this pandemic is certain kinds of events, there’s a sense in which you don’t lose much going online. Of course, you lose the entire hallway track, if you’re online. I haven’t really found any of the online serendipitous meeting experiments to work very well. That might just be me. There are other kinds of events, training events, in particular, where it’s really more a series of classes. I talked to one person, for example, who is a nurse, and she has specific training she has to do on a regular basis because of her specialty.

It used to be, it would be a week in a city, starting at 9:00 ending at 5:00. She told me that she would leave those and not feel like she’d really learned anything. They put them all online, and you have to do them, but it’s over a 3-month period of time. She was able to space them out and retain much more of the information, because she could do it at her own pace. I think we have discovered that there are some things that are better done remotely that we used to do face-to-face. I’m really hopeful that this notion of, I’m going to fly from London to San Francisco for a lunch meeting and then fly back on the same day, I hope we never do that again.

We’re really learning what kinds of things do need to be face-to-face. There is nothing like that back and forth that you can get when you’re clustered in front of a whiteboard, or the level of team building that can happen when you’re all sitting around a dinner table after a long day of getting things done. There are certain discoveries or alignment where you need to be able to actually experience the body language. It’s too easy to turn off the camera and scowl. If you’re trying to get alignment, we need to know about the scowls. There are certain kinds of activities that really do need to be done face-to-face.

We’ve, as Thoughtworks, been putting together a Technology Radar. We’re getting ready to do volume 28. We’ve been doing this for over 10 years. The pandemic lockdown happened just a few weeks before what we call our Doppler meeting, where we put together the radar, and so we had to go fully remote. We did a few of those. Then, in February of last year, we were able to do some pods. It was still difficult for some people being able to cross country borders. Visa applications in many embassies were way backed up.

We had one individual in Europe, who for a February meeting, he couldn’t even get an appointment at the embassy until three months later, and so we did pods. We had one pod in Europe, specifically in Barcelona, and we had another pod in New York. We still had people in China. We still had people in India. That time we did not have South America, and our person from Australia actually flew to New York, so that the time zones were better. We follow that remote-first strategy, and it was certainly better.

Then, later in the year, we were able to do a radar meeting completely face-to-face again. It was so much more productive. Because we didn’t have to use the remote facilitation techniques, we probably saved 4 hours of time, over the course of a week, and that’s a significant amount of time. We were able to reconnect as a team. We did our leadership face-to-face, again, fully face-to-face. Again, we went through the testing regimen that I was telling you about. There were new people there who had never been at a face-to-face, including our chief marketing officer who had never been in the same room with the colleagues that she had been working with. She was hired in September before the pandemic began.

Lessons Learned

What are some lessons that we learned? Many things that we would have assumed just have to happen face-to-face, really don’t. You can do a lot more remotely than people necessarily realize, but you can’t get away from time zones. I hear so many people who say, because of the pandemic, because of all we’ve learned about what you can actually do remotely, there will never be a global meeting again. That’s just nonsense. Because when we were doing those fully remote radar sessions, as an example, I was back on the West Coast, I would be starting at 4 a.m. Yet, even with that, our guy in Australia was effectively working the third shift.

It’s one thing to work third shift and not have to really think much, but the creation of our radar is a heavily technical process, and so, you need to be able to think, and that’s hard to do. It’s not like, it would have been any better if those of us on the West Coast were getting up at 2 a.m. instead of 4 a.m. It didn’t help that much. You can’t get away from time zones. For activities that require a lot of engagement, a lot of thought, face-to-face is always going to be superior.

Hybrid employment models are very complex to think about. We had to look at what kind of remote working we could allow our people to do in part just because of tax regimes. I am a resident of the state of Washington, in the United States. If I work too much outside of the state of Washington, I’m liable for state income taxes if that state has those taxes. It becomes even more complex if I decided, I want to go spend the summer in Portugal. We had to look at, what are the different arrangements, and they all vary by country, on what then would be possible?

If you live in Australia and you want to spend time with family back in Europe, how long can you be in Europe working before we start having tax consequences? What we’ve also started to do in some of our countries is look at how we can manage a broader approach to where we hire. Because if you’re always expecting that people have to be close enough to do something face-to-face, you have to only hire where you can easily get people, or people have to be within commute distances. That was what most of our countries had been operating under. Not as much the U.S., because for our professional services folks, our clients are scattered across the U.S., and so it really doesn’t matter. I happen to live in a city where we don’t have an office.

That hasn’t been a problem. I’ve lived here for over 10 years. In this situation where you don’t have these places where people congregate, how do you engender the sense of belonging? There are all kinds of strategies in remote team building. We’ve done remote away days where everybody gets on Zoom, and you’ve got different talks happening. You’ve got different breakout rooms, where people who are members of an affinity group can get together. It’s very hard to establish and maintain that sense of belonging, that sense of being a part of something, when you’re sitting in your own office all of the time. We have to be very intentional about how we think about belonging.

What’s Today Like?

Finally, what do things look like today? We’ve got different countries with different working styles. In some of our more delivery center focused countries like India, you maybe have up to 50% of the people going into the office on some regular cadence. We have other countries that have basically said, we are fully remote. Yes, we might still have office space, but there’s no expectation that people have to come into the office. They’re adjusting to what it means to be an employee.

We would have employees in cities that are well out of commuting distance to any of our offices and we’re just learning to live with that, and pretty much everything in between. It’s not that unusual anymore for me to get onto one of our global calls, and you’ll see some number of people who are dialing in from an office conference room. We’re still experimenting with tools. Again, we’re seeing the different capabilities that are enabled by different tools and different people’s responses to them. We actually did a pilot of a couple different remote pairing and there was no clear winner. I think there’s still a lot of work that needs to be done, as we imagine, what are the approaches to take to some of these remote activities? What are the tools that can help facilitate that?

We are more scrutinizing requests for face-to-face meetings. Help me understand the value of doing this face-to-face. For many, several of the meetings could be done remotely. I think we still all believe, and we’ll have to see how this plays out as people start to get back together face-to-face on occasion, we still feel like it helps a team to be able to work remotely if they occasionally are able to get together face-to-face. We found this with our distributed teams, when they can do an exchange of individuals so they get the perspective of that other location.

We also see that in some of our internal teams where, yes, if we get together once a year, we can do all of those other meetings remotely and still have that sense of trust, and have that sense of belonging. It’s helping us with our carbon targets. We’ve committed to the science-based targeting initiative. Carbon reduction is a whole lot easier if you’re not trying to fly everybody for every meeting. We’ve learned a lot through the pandemic. We’ve gone through a lot from the pandemic. I think it has helped us understand what are the true enablers for some of these processes and these approaches that we are taking.

It’s also really focused us on thinking about, what do we need to do to take care of our people, to take care of our culture, to help them feel like they are part of something special, that they are part of something bigger. How do we do that? Just by looking at a little green dot.

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Article originally posted on InfoQ. Visit InfoQ

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