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

Interview Tips: An Insight

The building up of confidence has always been the key for a successful interview. The matter of fact is that if someone can control over himself and shows the right confidence at the right time then the job gets well secured from both ends. There are few steps which will boost up and guide one for a successful interview. The primary work is to gather the knowledge and know how of the company from the official website and other related pages of the company. The candidate should know about the basic interview questions and should surf enough on the net to get an idea of the interviews of the real world. The documents to be carried and the attires to appear smart should be arranged a day before to avoid mad scrambles. The need to leave early and reach well before time is the most important factor as it keeps away the stress. The winning weapon for an interview is a confident boosting resume as it will boost one from within. The self-confidence and some patience are always needed during the whole process. Read more at: http://www.business2community.com/human-resources/how-to-build-confidence-before-your-next-job-interview-01282695

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The various ways to reach the world by social media

A platform to reach the audience and communicate best is how we define the social media in recent days. The social networking sites have multiplied their reach through the proper tools of communication but then we have to follow some basic few steps to keep us updated and tied with the social world perfectly. The marketing steps start initially with the targeted audience whereby we can sustain the people in numbers. To follow people, posting more pictures and keeping the sites updated with the latest know how. There is need to post something out of the box and attract the audience by accessing through the different social media sites. The posts should be in numbers and the time allotted for social networking sites should be the most. The interaction with the audience should be regular and sometimes personal touch is also needed. There should be some proper research and reading for the social media books. The content of the page should be convincing enough to pool the audience. The social networking promotions should have some special factors such as a good avatar and an innovative background which will attract the mass. The trending technology of using email conversations and twitter and so on are also important for communication. The boost for yourself and the social media to reach out to the people can be achieved by integrating the various ways. Read more at-http://www.business2community.com/social-media/20-ways-amplify-social-media-reach-01280718

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The seven different ways to impress and convince your customers

The key to sustain and attract customer is to present the worth of your product. The grace to attain and greet your customer is the primary step to impress the customer. One should be inquisitive i.e. the customer needs should be identified and customer should be given the maximum priority and importance for the moment. The knowledge about the organization and its working should be precisely known so that one can properly answer to the doubts of the customers. A proper teamwork is needed to collaborate and consolidate the working process so that the organization stays more organized and presentable to the customers whatsoever. There is a need to present the structure and information of the company in a decent and nice way so that customers get the right impression. After the whole process, the selling process should be closed and the customer should be thoroughly valued by the organization.  All you need to do after the whole process is to follow up with the customers to analyze and coordinate with the customers on a continuous basis. Read more at:http://www.business2community.com/customer-experience/7-ways-to-wow-your-customers-01279642

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Importance Of Data Quality

Data quality has not been so good so far. Huge amount of data can be found that is incorrect or duplicated. It is very difficult to setup an improvement program. One should know what kind of errors are there to allocate the correct resource. To solve data quality problems complex and strategic approach is required which is not same for all problems. Most of the company's decisions are taken after analyzing the data of the company, but if data quality is poor then the result of the decisions can led the company to suffer huge losses. Detecting the data quality is very important because it is positively correlated with business efficiency. Read more at:http://www.smartdatacollective.com/martindoyle/335289/defining-your-data-quality-problems

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Can Chief Marketing Technologist Takeover Chief Marketing Officer

CMO, the Chief Marketing Officer, has played an important role in the company's boardrooms. They always provided the right direction and techniques to sell products and services. In past 10 years, there has been renovation of techniques. TV and print advertising pales has been replaced by digital advertising and social media. Today use of technology and data by marketers is not limited as previously it was. The increased dependence on technology and data has led to foundation of Chief Marketing Technologist (CMT). They are the strategist, creative director and technology evangelist. Some economists believe that due to data centralization replacing CMO with CMT is not feasible. Both the CMO and CMT have played their role which is important part for business. So neither can replace the other.  Read more at:https://channels.theinnovationenterprise.com/articles/will-the-cmt-replace-the-cmo

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Preventing Customer Churn in Insurance Sector

A recent survey on customer retention revealed that insures lose as much as 20% of their customers each year. For the insurance agency this corresponds to approximately ÂŁ500,000 to ÂŁ1 million in lost premiums for every 1,000 policies. Customer retention is thus an important issue facing the industry. Three key points can help insurance companies to eliminate customer churn.
• Firstly, they need to properly understand their customer, which means determining overall market segmentation to understand cross sell and up sell opportunities at individual policyholder level.
• Secondly, insurance companies must be able to provide tailor made policies for each individual and also have a unique selling point in comparison to their rivals.
• Lastly, companies need to realize that they have to listen to their customer’s preferences rather than the customer having to choose from the list of policies the insurer has to offer.
Should the above be kept in mind in a company’s planning and operations customer churn can certainly be minimized if not completely eliminated.

For more information visit:
http://blogs.sap.com/banking/2015/06/19/preventing-customer-churn-with-better-data-analytics/

 

 

 

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Social Media Marketing for Small Retailers

Of late social media platforms have become essential tools of marketing tools for all types of businesses, including retail. Nearly 70% of the active Facebook users in the US and Canada follow local businesses. A survey found that nearly 40% of consumers make a purchase after having viewed the commodity on social networking sites alone. For any retail chain that is a big number. Having said that, here are some social media marketing tips to aid your business.
Share your top picks
Of all the items that you house choose a few with unique selling points and highlight them as top picks. Alternatively you could enlist popular choices of your employees and celebrities as well.
Tell your followers what new at your stores
Frankly no one has the time to visit your store every week just to know what is new. Save their time as well as yours by announcing new products on your social media page.
Send special event invitations
If you are planning to organize any event at your store, make sure the whole social media knows about it. This will help you gain some much needed customer attention.
Offer exclusive deals
Nothing works better in molding buyers buying preference that exclusive offers and tailor made deals. Get your customers hooked onto your social media page by offering them some special deals. Also you could devise some loyalty programs for the more frequent buyers.

For more information visit:
http://www.business2community.com/social-media/guide-to-social-media-marketing-strategy-for-small-retailers-01276120?iid=ob_article_footer

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A Guide to Product Launch for Start-ups

Customers today are aware about social media, and are willing to try stuff out and maybe even write a review based on their experiences with a brand. In an ideal world blog reviews should take care of it provided the product is good. Sadly, the world is anything but ideal.
The success of a product does not depend solely on its quality but rather on the advertising that goes behind it. The traditional ways of advertising are costly and often beyond the financial reach of new companies. This is where social media marketing comes in.
Here is a guide to get your marketing strategies take flight:
• Start your product launch campaign with research: Before you start developing your products, try to gauge what your target audience will actually notice and respond to.
• Plan a campaign that creates interest: Make sure that the campaign keeps the interest of fans high and urge them to actively participate in them.
• Video – your most effective marketing tool: It is estimated that by 2017, video will account for 69% of all consumer internet traffic, and video-on-demand traffic alone will have trebled.
• Involve influencers: Influencers are people with followers and fans who quickly respond to any endorsements and recommendations.
• Celebrate the revelation: Celebrate the campaign by rewarding fans who participated, with special gifts and rewards.
• Don’t kill the buzz: Case study videos are a great way to keep the buzz, around your campaign for a while. Read more at:


For more information visit:
http://www.germin8.com/blog/6-steps-to-social-media-marketing-success-product-launch-for-startups/

 

 

 

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Email Coupons: A Study

Recently, email marketers are using the coupons. It was found in a research that 71% of the population say coupons sent in emails very useful.  Email coupons can work very well as a promotional tool and can be effective when they are personalized by product preferences. Jordie van Rijn (author) in his blog writes how we can improve the usage of coupons to improve business. Read more at: http://blog.getresponse.com/making-your-email-coupons-work-harder.html

 

 

 

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How Big Data is Advancing Programmatic Advertising

While data has always played a part in ad campaigns-like whether a potential customer was more likely to see an ad on billboards, TV, or radio-big data has enabled a new era of advertising. With the advent of big data, brands can finally turn to actual numbers and metrics to make decisions-and use technology to help automate those decisions. Specifically, the programmatic advertising industry has deployed big data technologies so that companies and brands can be more precise about who exactly they're targeting. They can rely on exact data generated from GPS on mobile devices, social networks, actual purchasing behavior, and direct customer contacts, and analyze it to pinpoint their target audience. By analyzing this diverse data stream along with 1st-party advertiser data, we can play the right advertisement at the right time for the right person. It’s no longer a question of whether or not you want to utilize big data—it’s a question of how you utilize it.
For more information visit:
https://www.mapr.com/blog/how-big-data-advancing-programmatic-advertising#.Vb-xSPmqqko

 

 

 

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Value of Consistency in Customer Satisfaction

Customers are delighted to get gifts for companies. But, some companies fail to do so in a consistent manner. Companies might begin with good intentions, but sometimes they lose their way. Jake Sorofman (a former CMO), writes in his blog how companies sometimes fail to keep consistency. For more information, visit: http://blogs.gartner.com/jake-sorofman/in-customer-experience-consistency-is-the-new-delight/

 

 

 

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The way to manage a bunch of disappointed employee

Every company has some dissatisfied employee who all are best at what they do or they are de motivated for some reason. The set of employees give negative vibes and complain about the organization with or without any reason. The company needs to identify the cause and rectify it for a better prospect. The employees don't participate in the normal working process of the company and hence there is always an urgent need to determine the actual cause of disappointment. The manager needs to ask and listen to communicate with them and get the reason for their unusual act and behavior. The approach should be professional enough to even tackle the worst situations and apply some good management strategies to handle situations. There is a need to let go and move on with the healthy and dedicated people. The key to avoid the problem is to appoint people in such a way that there is no or negligible chance of such dissatisfied employees in an organization. Read more at- http://www.business2community.com/human-resources/how-to-manage-a-disgruntled-employee-01278001

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Data Analytics in Health Sector

Sepsis is a serious medical condition that occurs when the body releases the full force of the immune system in response to an infection. The immune chemicals trigger widespread inflammation that can result in impaired blood flow and thus leading to failure of the body's organs. This disease is consuming major cost for the healthcare industry. Here Data Analytics has stepped in and provided a solution. The solution consists of a disposable wireless Band-Aid-like biosensor (the FDA-certified HealthPatch), which helps in real-time processing of patient data, and consumable analysis that allows medical professionals to take immediate action.
 The smartphone app transmits the patient clinical data to a cloud-based repository, where it is integrated with existing patient data from other data sources (NoSQL and SQL-based data sources, premium data sources, etc.). For more information visit:
http://www.cio.com/article/2949854/big-data/how-big-data-analytics-help-hospitals-stop-a-killer.html

 

 

 

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Increasing data in capital markets

In order to increase standards of the capital markets post-crash and other unprecedented events, few regulations enforced by the market regulators are forcing the market participants to have a more thorough background research. Thus demand for data in capital markets is increasing as never before. The analysis reports are now being made at real time to increase the efficiency, and quality. But the problem at hand is how well firms can handle this data. Can they afford the data within their profits? Can data can be made available to all in proper usable format to all the participants at minimum price. How can the data made available be kept clean and free from corrupting? To read through some of these issues go through-http://www.automatedtrader.net/articles/feature/153959/the-data-deluge

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How To Get Ready For The Internet Of Things

The term Internet of Things was coined in 1999 by Kevin Ashton, cofounder of the Auto-ID Center, an RFID research project at the Massachusetts Institute of Technology. IoT is about intelligent devices talking to enterprise apps. Its important to focus on the basic building blocks as the success of an IOT initiative depends on them. However, you must overcome  challenges before the IoT can be fully realized. A lack of unified standards , Complexity are some of the challenges. If you're starting from scratch, it's important to ask, "What's the No. 1 business problem you want to solve?" Once that's answered, it's time to look at the systems you need to connect and the capabilities you must put in place. The most important point is to bring your structures and unstructured data together in a meaningful way. 

 

Read more here- http://www.cmswire.com/internet-of-things/get-ready-for-the-iot/

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Enhancement In Farming Using Big Data

During the past decades, it has been seen that farming industries have made use of big data in a very efficient way. Many attempts were made to improve the crop yields of arable farming using big data. One of the evidence is that diary industry in Netherlands made huge margins after adopting big data. The data from farmers, soil type, soil analysis, and also analyzing weather can be used to predict the degree of accuracy in time for applying seeds and, fertilizers and chemicals. Read more at:https://channels.theinnovationenterprise.com/articles/how-can-big-data-positively-affect-farming

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Big Data to impact the future of businesses

Big data will play a major role in shaping the future of businesses. The two major areas that are going to undergo significant changes are as follows:

(i) Previously, once data had been used, it used to be deleted. But now, as predictive analytics makes use of historical data, so data needs to be stored for an indeterminate period of time. This is against the current laws and thus requires amendment. In future, well-defined laws about collection, distribution and storage of data are going to be the key to success for businesses using Big Data.

(ii) With technological advancement, data is being collected at a faster rate than before. Also new and improved technology is being used to sort it. In future, frameworks will need to be robust in nature and analytical processes should be improved in terms of speed and accuracy. Read more at: https://channels.theinnovationenterprise.com/articles/big-data-and-the-future-of-business

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Mobile-first strategy in businesses

With the rising popularity of mobile apps, it has become a necessity for businesses to have a mobile-first approach. Before adopting a mobile-first strategy, the following factors should be kept in mind:

(i) Businesses should be familiar with the platform they use. Familiarity with advertising budget and the ability to hire professional web designers and developers is also required.

(ii) Apps should be built with a goal in mind. Apps can be made to boost sales, retain old customers or some other purpose.

(iii) To stand out in the crowded app market, marketing the app needs to be useful and purposeful.

(iv)  Apps should be unique in experience and significantly different from the company's website. Apps should be able to provide a simplified customer experience.

(v) Apps should be tested before being launched as a bad experience will have a negative impact on the targeted customers. Read more at:https://channels.theinnovationenterprise.com/articles/7987-is-mobile-first-right-for-your-business

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Data Mining: A Dark Web

Data mining has taken a new form termed as a Dark Web. Law enforcements have made use of dark web to analyze data on websites and concluded that in 2010 over 100,000 sites contained extremist and terrorists' content. Today, dark web has become popular in finding and shutting down websites that can be used to facilitate criminal activity. Big data is also making use of such technique to collect data to better understand criminal behavior. Dark web has made it easier to keep an eye on illegal activities. Making use of dark web can stop these criminal activities which would ultimately results in favor of people. Read more at:https://channels.theinnovationenterprise.com/articles/mining-in-the-dark

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Why Data Driven Decision can Sometimes be Askew

Does your analysis show more revenue than what is actually being generated? Or you are getting results that are too skewed to make actual sense? Make sure you follow these 3 ways to avoid making data driven mistakes

1) Get right data: make use of latest data and look for duplicate, missing values and outliers. It is also imperative that you have enough data while drawing an analysis.

2) Ask questions: Sometimes analysts apply techniques they haven’t really examined. Asking questions makes you better understand the problem at hand

3) Make productive use of spread sheets: if while looking at data, you are looking at spreadsheet, remember to keep data and formulae separated.

Read more at: http://www.forbes.com/sites/teradata/2015/07/08/how-to-make-a-bad-data-driven-decision-in-three-easy-steps/

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