Tip: run 'New-SPODataConnectionSetting' as administrator

SharePoint 2013 Business Connectivity Service application also includes support for consumption of external REST OData services. The connectivity requires a ODataConnection. This can be created via the new PowerShell CmdLet New-SPODataConnectionSetting.

If you invoke this CmdLet under an 'ordinary' SharePoint account, you may encounter the error: The Web application at <ServiceContext URI> could not be found. Verify that you have typed the URL correctly. Typical cause is that the SharePoint account has insufficient rights to access the Central Admin web application. The simple resolution is then to run PowerShell via "Run as administrator".