SigmaWay Blog

SigmaWay Blog tries to aggregate original and third party content for the site users. It caters to articles on Process Improvement, Lean Six Sigma, Analytics, Market Intelligence, Training ,IT Services and industries which SigmaWay caters to

Success Secrets in Emerging Markets

According to the authors, the returns on emerging market investments have been disappointing for Multinational corporations, primarily, because • They import their domestic models into emerging economies.

• Winning emerging economy, consumers involve a change in mindset, capabilities, and allocation of resources.

• Failure of going down the socioeconomic pyramid.

Obtaining Market Intelligence of one market section before entering the market might not be useful because of the higher internal heterogeneity of these rapidly changing emerging economies. Market intelligence methods and approaches differ among countries. A frequent adaptation of product lines and operating models to changing consumer behavior and market conditions is the key to success in emerging economies. Read more at: http://sloanreview.mit.edu/article/mastering-the-market-intelligence-challenge/

 

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Social media as a part of marketing strategy

Nowadays, social media is a part of marketing strategy. But, before planning for a social media campaign, we need to think whether this type of campaign is needed or not. We must think about six points before going for a social media campaign. They are: 1. What are we trying to accomplish? 2. Who are we trying to Reach? 3. What channels can we use? 4. Is There a realistic potential to establish two-way communication? 5. What channels Can we use? And 6. What is the cost? Read more at: http://it.toolbox.com/blogs/insidecrm/do-you-need-a-social-media-program-76621

 

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Cohort analysis and its benefits

The cohort analysis tool can help to dig in deeper which traffic and page views don't allow. The cohort is grouping because of similarities. It's perfect for finding certain things at a glance. But the website keeps changing very often. When those changes happen, it's important to put these metrics in context. Cohort helps by layering on a filter to add context to the data you're looking at. By viewing those segments, one can produce more accurate findings. Also, cohort sorts the data in every way possible. There is a list of factors, one can analyze using this tool. Cohort analysis allow you to view data by segments of people, helps determine changes and facilitates comparison so that the strategy can be set accordingly. Read more at: https://blog.kissmetrics.com/cohort-analysis-google-analytics/

 

 

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Taking insurance to the next level with the help of technology

Chatbots are fast becoming a business imperative for businesses that want to engage with their customers. , with artificial intelligence and natural language processing, online chat is becoming the preferred way to communicate with the brand for many users who want an on-the-spot answer to their query. It partnered with enterprise-focused chatbot developer SmallTalk to provide tailored insurance policies for small businesses via a social channel. 

Chatbot technology is redefining the way we view and engage with some of the largest and most traditional industries, including insurance. Palo Alto, Calif.-based start-up Next Insurance has launched an insurance chatbot to enable small businesses to quote and buy insurance via a Facebook Messenger chatbot. Thus bringing simplicity, transparency, and easy access while buying insurance.

Read more at : http://www.zdnet.com/article/next-insurance-launches-facebook-messenger-chatbot-to-replace-the-insurance-agent/

 

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  Realignment of Banking Sector

In these times of uncertainty, banks need to focus on five specific areas to grow and innovate. Banks must decide on an appropriate business model which can tailor to their needs. According to a study, banks also need to focus on improving five specific areas inside their organizations. They are: Control, Protection, Optimize, Growth, and Reshape.. Read more at: https://thefinancialbrand.com/65210/banking-customer-technology-growth-investment-trends/

 

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Benefits of technology in education

Web technology has greatly impacted education. Following are the ways in which technology can benefit the students. One of the most effective tools students can use to communicate is an infographic which helps to present dense information through graphics. Students might need to create surveys to strengthen the point of a paper they are working on. Here polling comes in handy which helps share to thousands of people throughout the country. Then comes spell check which helps the students concentrate on the important things. Technology now plays an important role in communication, making it a lot easier. Read more at: http://it.toolbox.com/blogs/understanding-crm/the-role-of-information-technology-in-education-76589

 

 

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The Uneven Skepticism of Aid Journalists

 

Rosenbaum was accused of searching Reed’s medical records and violating HIPAA (she has been cleared of that by an investigation) because she mentioned the stage of uterine cancer in the essay, begging the question how she knew the stage of the cancer.While banning morcellation certainly saves women from the dreaded complication that Amy Reed regrettably faced, what about women who do not develop complications from open procedure, such as pulmonary embolism, because of using the less invasive technique? Who cheers for events that don’t happen? Safety for some patients comes with unsafety for other patients.How did our skeptical healthcare journalists respond to this accusation? Presumably they decimated the sloppy, self-serving, logic of the accusation, which is nothing more than a jejune and desperate personal attack on the author.Read mroe at : http://thehealthcareblog.com/blog/2016/03/20/overoutrage-and-the-asymmetric-skepticism-of-healthcare-journalists/

 

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A Lean way to Supply Chain Management 

Lean manufacturing techniques can be employed to supply chain management as well. Before that we need to have an overall view of priority and inefficient areas. Maintaining a minimal level of inventory by cooperating with suppliers and having accurate forecasts is the key. Efficient transportation system through long term contracts and shipping agreements is needed. Keeping up-to-date with latest Warehouse Management System (WMS) software to store and evaluate data.  Picking processes constitute a major portion of overall expenses thereby optimizing it would trigger shortened lead times and improved quality. Returns need to be managed properly in the supply chain management, especially for e - retailers. Lean requires discipline, potential investment in technology, and a continued commitment to its principles and approach.Read more at: http://www.sdcexec.com/article/12336165/eight-tips-for-running-a-lean-supply-chain

 

 

 

 

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Why CRM plays a major role in impacting sales ?

CRM is the major contributor of many businesses, but sometimes it turns out to be an inefficient and expensive sales killer. The truth behind this is most CRM platforms aren’t intended to help the end users who work with them day in and day out that is your sales representative. Most of them waste time in doing manual data entry. When there is poor execution of CRM, the organization has an insufficient picture of how it is selling its products. The data we are seeing is incomplete and possibly misleading. To know more, please read the following article: http://www.business2community.com/big-data/4-reasons-big-data-failed-impact-sales-01787213#R6gklCOP8mL83XgS.97

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Know when to outsource blog writing

When you have a small business, you need to draw attention of customers. So writing blogs will help to bring traffic to your website and also helps in the generation of leads. When your small business grows, you can outsource it. These are 3 sign’s when you should realize of outsourcing blog writing:

• When you are posting late or don’t post regularly then visitors may lose interest, which may also impact in attracting new visitors.

• When you feel that you are bored or sick of writing about the same topics, you may outsource it.

• When you don’t find any improve in traffic, leads and ultimately customers, you may need to bring some change or hire a professional who can fix the issue of your business blogs.

To know more please read the following article by Jennifer Mitchell:

http://www.business2community.com/blogging/3-signs-time-business-outsource-blog-writing-01817114#U605wbKfpySXOJVP.97

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How to successfully start an online retail business

Nowadays we can start an e-commerce online retail business a lot easier than ever. Thanks to the internet which helps us to start our business with very little overhead or fixed cost and if we go with the trend that is creating something that people want then we can make much out of it. Here are some tips for starting a successful online retail business: We should create a business plan that should clearly show the route to achieve goal or success.

• Choose a creative business structure which includes tax benefits, requirements and how to legalize with government.

• Start a self-storage which will lower your cost of rent.

• Make a catchy website and make sure it includes all the information like store name, location and contact information for the betterment of customers.

• You should provide a convenient price chart and description of all products.

• Make your ordering process easy.

• Last but not the least show your policies of return, refund and warranties so that customers don’t jump to some other site.

Read more at: http://www.business2community.com/ecommerce/7-tips-starting-successful-online-retail-business-01798247#OCvXfd1Det8hkZMy.97

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A big red alert to the phishing emails!

Now a days we are receiving phishing emails. Security experts have discovered that these phishing emails contain Pony malware which when downloaded and opened, crashes the system moments later. In the background the infected attachments start invading the system and give access to all important credentials to the hackers. Now follow these tips to avoid becoming a victim to phishing emails:

• Note that publisher is not used for file sharing or word processing. If you receive these type of file, just be cautious of phishing attack.

• Install antivirus or anti-malware which will detect these types of files and alert you if any suspicious activity is running in background.

• Continuous changing of password and having a strong password will help you from hackers from hacking or accessing all your important credentials.

So, continue using these cybersecurity tips to be protected from these malicious activities.

Read more at: http://www.business2community.com/cybersecurity/phishing-emails-spread-pony-malware-01783728#ifY3P7jKyFeVx4Y7.97

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Unlikeness in office may stop your advancement in your career

Everybody in this world has a feeling of getting liked by their workplace peers. For that reason, you start to create respect and try to collaborate with your peers. From your perspective, you do everything right, but somehow you fail to create that bonding or relation and can't get along with them. Here are some reasons for which your team members may not be liking you:

• Peers start insecurity when you name-drop as nobody likes when you talk about your past or famous personality you worked with.

• Peers feel annoyed when you back brag. Never mention “you are the reason behind the team’s success”.

• Peers don’t like when you don’t a chance to share their ideas.

• Don’t try to talk anything bad about peers while gossiping because that may eventually get back to him and you may lose your reputation.

Read more at: http://www.business2community.com/human-resources/unlikeable-one-office-01813715#xDCYK4d4RSRkzyJl.97

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Is it necessary to have a LinkedIn profile?

According to some people, your resume and your LinkedIn profile are not one and the same. You need to have both. They both have their respective usability and advantages. Benefits of having a LinkedIn profile:

• It makes you more noticed and searchable in social media if you have a LinkedIn profile.

• You have an advantage to add extras to LinkedIn profile which is not possible in a resume which is a benefit for you to shine.

• You can have more leveraging connections with leaders, colleagues, co-workers and have an opportunity to show your skills.

Conclusion: You need to have both LinkedIn profile and resume. They must complement each other which will attract hiring interests.

Read more at: http://www.business2community.com/human-resources/really-need-linkedin-profile-addition-resume-01818570#JJePIV0vziyMlpLF.97

 

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Understanding big data and how it helps businesses

Big data imply huge sets of organized and unstructured information. It is very complex and regular data processing techniques don't work in managing this kind of data sets. In business, the 3V model is utilized to depict enormous information. These 3V's are: volume, velocity, variety. Now let's understand how big data helps businesses and why it is important:

• Examining big data helps understanding the current economic situation so that it can get an idea of getting ahead of it’d competitors.

• Big data analysis helps to understand your customer better, predict what they need in advance and can provide better service.

• You can control your online reputation with the help of doing sentiment analysis.

• Big data tools, save lots of money as it reduces the manpower to handle large amount of data.

Read more at: http://www.business2community.com/big-data/big-data-important-businesses-01818898#DOiRF3OOYiZ3JlAb.97

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Effects of organization culture

In today's world, maintaining a company's culture is the most important thing that should be kept in mind during an expansion. Communication can happen across different time zone. Expansion can lead to many problems like, poor communication or communication breakdown which in turn may affect company culture. For overcoming these situations, companies can take the help of some tools to preserve and enhance your culture. They are:

1. Videoconferencing,

2. Social Networking,

3. Collaborative tools such as Google docs, Mind Meister.

In short, by effectively coordinating collaborative technologies your organization culture can thrive. Read more at: http://www.business2community.com/business-innovation/technology-can-save-company-culture-expansion-01810807#VcKudEFscr36wuVI.97

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Steps to reach your goal

There are many ways to succeed in finding your goal or a great job, provided one is willing to do the hard work. Here are some steps to be followed by career changers to succeed in reaching their goal.

1. Self-Appraisal: This is a type of activity that will rotate the abilities and an individual ascribes that they need to utilize and pitch to a future employer.

2. Improvement of marketing collateral: You should have an exceptional resume and LinkedIn profile which will attract the HR and will fetch you a good job.

3. Try to find out various job networking groups which will provide you better employment opportunities.

4. Interview preparation is the vital step towards getting your dream job and finding an appropriate answer to the situation, the action you will take for the benefit of employer and end result that will add value to the company.Read more at: http://www.business2community.com/human-resources/5-essential-steps-great-job-01814295#j5rSZSdhfbEEbl25.97

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Get noticed by using effective keywords in a resume

Including valid keywords in your resume gives a fair chance of getting a call. Here are the ways you utilize keywords effectively. • If you want to get in through a job ad, then analyze what requirements they are looking for. Accordingly highlight the key requirements and qualifications in your resume.

• Be tactful in making your resume. Don’t overuse or include your keywords in every sentence.

Conclusion: Employers and selection representative alike, will mostly examine your resume for keywords like job requirements and qualification. Most of them use software to pick the keywords. So, give yourself the best chance to land that position today by including keywords effectively in your resume for your next employment.

Read more at: http://www.business2community.com/human-resources/keywords-resume-use-correctly-01813482#3cVXokF3syIJ72SA.97

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Entrepreneurial tips!

When you're initially beginning as an entrepreneur, you need to do all that you can strengthen your odds of survival. These tips are extremely valuable in helping you accomplish your objectives.

1. Know how to trim your non-essential spending and save for building your business.

2. Identify your variable expenses by looking at your past spending.

3. Identify every single income-generating source such as renting your house when you move for a long period.

4. Try to stay physically as well mentally healthy by doing regular exercise, eating sufficient food and getting sleep’

5. Keep separate tract of your financial expenses and personal expenses.

6. When you grow, you should make a revenue model for upcoming 6 months, 1 year or2 years.

7. You should always think about ramping of your salary in the initial months of your start. These tips are going to keep you financially solvent, fit and fine. Read more at: 

http://www.business2community.com/finance/7-essential-tips-entrepreneurs-stay-financially-solvent-theyre-starting-01743293#leWTCJP9ZOdFzJxg.97

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Securing cloud computing

What is cloud computing?? It refers to a broad set of policies, technologies and controls deployed to protect data, application and associated infrastructure. Its sub-domain is computer security, network security and information security. Working on a cloud or not is a basic question asked to every employee. For instance, people working in hospitals are generally blamed for disclosing health records of their patients. Talking to a layman, it is a group in an organization connected through networks, but even if the hackers are good at hacking, the data will remain safe within the company boundaries. Therefore, cloud computing is very wonderful stuff to work upon, but only in a secured way. To know more please read the following article by Dennis Stevenson (author): http://it.toolbox.com/blogs/original-thinking/cloud-computing-must-be-securre-75892

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