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

7 ways to evolve App Experience and retain customer

Mobile Apps have been at the center of customer based marketing. With the sea of options to choose from, retention of customer is not only about the attractive feature but also about the user experience it creates. Bryn Adler, content marketing manager at Localytics, has a piece of advice, which will help grow your app experience and reduce churn. Here are 7 points to keep in mind:

• No misleading Ads

• Lead with value

• User experience is paramount 

• Use data to track usage, retention and engagement

• Targeted marketing is smarter marketing 

• Feedback is the holy text

• Predicting churn 

For more on this click the link http://www.business2community.com/mobile-apps/making-customers-happy-in-the-age-of-options-reduce-churn-retain-app-users-01271973

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Data storage: costs and benefits

Companies are constantly generating large amounts of data both from internal and external sources. They are even storing these data. But some of it are useful for future projects while others are never used again. In today’s world of big data, storing data does not create a challenge as does managing and utilizing information. Storage costs are beginning to hurt companies but connectivity allow for some relief. Timing is crucial as presenting data at the right time matters a lot. Retrieval of the data with relevancy, accuracy and integrity can sometimes pose a challenge. With storage and backup infrastructure in place, storing data becomes relatively cheap. Read more at: http://www.dataversity.net/how-to-overcome-the-big-data-hoarding-monster/

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Data Centers attracting investment

Medium and large enterprises are increasing their investment in data center facility particularly in health and financial sectors. There has been increased investment in cloud and colocation providers and more investment is expected. Most of this investment is targeted at rack and cabling, power equipment and data center infrastructure management software. Investing in data centers have become an important part of supporting growing business demands.  Enterprises are allocating more budgets in coming up with modern datacenter facilities. This increase in spending will let equipment vendors with large premium sites of their clientele gain the most. To know more, please follow: http://www.dataversity.net/enterprises-increasing-investment-in-datacenters-focus-on-upgrades-and-retrofits/

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Machine learning for businesses

Machine learning has showed tremendous potential to transform companies from inside out. Everyday new algorithms are coming up that are being used to encounter data and tackle new problems. On the other hand, a closer look at machine learning reveals it to be nothing more than a branch of statistics for a world of big data. Business executives with a thorough understanding of machine learning have the ability to reach efficient business outcomes. In this age of data, firms have to work with large scale data. Both advanced software and hardware is needed to manage, analyze and store it. Herein lies the applicability of machine learning. To know more, please follow: http://www.dataversity.net/what-business-execs-need-to-know-about-machine-learning/

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Life cycle of data

It is an interesting conjecture that data can be thought to have a life cycle. This life cycle can be further broken down into phases. The first phase being data capture, creating data values for an enterprise. There are several ways for data capture. These are namely Data acquisition, data entry and signal reception. Data acquisition is the induction of existing data of an organization, data entry is the process of creating new data values for the enterprise and signal reception is the data generation process by devices working in sync with IOT. Data maintenance is the next phase of data life cycle. It necessarily deals with data synthesis and data usage. It includes processes such as movement, integration, data cleansing, extraction, etc. Read more at: http://www.dataversity.net/the-data-life-cycle-in-7-phases/

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Dissecting marketing strategies

Firms looking for potential customers should proceed with caution while deciding on the marketing strategies. The marketing strategies should be not such that annoy customers. Here are some general pointers:
• It is best to come clean about the product and its limitations. There is no sense in hiding weakness initially which might make the customer deflect later due to inefficiency.
• Promotion of the product should be done either through email or phone, not both. Some decorum should be maintained while having a conversation over phone or emailing a customer.
• Demonstrations made to the customers should be engaging and interactive.
• The discussion sphere should not be kept confined to the product only, it pays to enquire about the customer. Even if opinions differ or disinterest is shown by the customer, it helps to give value to the reasons the company got rejected.
Read more at:  http://www.business2community.com/customer-experience/5-sales-marketing-tactics-guaranteed-to-annoy-customers-01274974

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Motivating employees

Companies are always trying out ways and means to keep their employees satisfied, after all they are the work force that keeps that wheels running. Companies are often coming up with new and innovative ideas to motivate their employees keeping an eye on their budget constraints. Here is one innovative idea; a luggage party. All one needs to do is to select random employees and send them on an all paid trip for the weekend. The prospect of a trip, a chance to get away from the work pressures, that too on the house excites most.  Another idea could be to give “play time”, a chance to relax with activities like table tennis, indoor basketball. Its a sure shot way to reduce stress levels and keep employees happy. Introducing a snack bar might also help the cause. To know more, please follow:
http://www.business2community.com/human-resources/5-fun-employee-benefits-big-companies-offer-and-you-can-too-01268109

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Big Data Everywhere

Understanding and collecting data is an important part of viable businesses nowadays. Big data helps us in that with its many applications in various spheres. Big data is not only limited to marketing applications, it can analyze structured and unstructured data searching for purchase patterns, build logs and store day to day information. Big data has helped optimize business performances, has led to an increase in productivity and thus it has made its impact felt on the profit margins. Big data empowers organizations with knowledge of their employees thus enabling interactions on an individual level. This is bound to make an impact on employee productivity eventually leading to growth of the organization in the long run. Read more at: http://www.business2community.com/big-data/big-data-a-big-impact-on-productivity-01274278

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Importance of data accuracy in Big Data

Big data and analytics are the buzz words in any industry now, but one should not forget that data inaccuracy can lead to huge losses for any industry. Big data becomes useless unless it possess a reasonable degree of accuracy. In case of industries like healthcare and banking big data mistakes can even take someone’s life. Data should be cleaned before data scientists can leverage it to derive useful insights. Practicing good data management is the need of the hour. Executives, instead of being impressed by the size of data, should question its quality. Systems should be designed in such a manner that it is able to simplify the process of data collection and minimize risks from inefficient data. Read more at:https://channels.theinnovationenterprise.com/articles/7782-big-data-vs-bad-data 

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Rising Value of Sports Analytics

Other than having health implication, alcohol have a direct impact on match’s performance and cost the team valuable performance. So Arsène Wenger, manager of Arsenal started waving away team’s bad habits. His sophisticated approach and implemented policies, worked as catalysts for sport’s keen interest in analytics. The sports current value is predicted to rise due to the increasing accessibility to cloud computing, improved infrastructure allowing smart-phones and tablets play a bigger role in training programs.Arsenal’s rivals, Manchester United use analytics to maintain squad balance. Many sports are still unconvinced which shows that analytics still has room to grow. Other than elite sport, there is a rising valuation of sports analytics in amateur sport also. Major sporting institutions and amateur athletes still remain to tap in. Read more about it at:  https://channels.theinnovationenterprise.com/articles/sports-analytics-market-to-reach-4-7bn-by-2021

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Leveraging data both external and internal

While running a business, one should consider not only internal data but external ones as well. Due to the inability to access information and integrate it, businesses are lagging behind. Though a huge amount of external data is available, it’s not always easy to find the desired information. Certain software aid the process of finding external data. Bringing both external and internal data together provides a unified view as well as helps in the process of decision-making and discovering insights. Data from all sources should be brought together and technologies that are able to perform this task and are able to put equal importance to all sources of data should only be accepted. Read more at:https://channels.theinnovationenterprise.com/articles/does-your-car-have-more-awareness-than-your-business

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Big Data in Digital Marketing

Nowadays, like other fields, big data insights affects strategies of digital marketers helping them to create effective campaigns. The discovery of various marketing technologies makes it clear that, companies are keen to invest in this. Sentiment Analysis tool is unethical but not illegal and is really helpful to find opinion –rich information to be acted upon. This “opinion mining” with the help of other tools can actually manage conversations about a brand when used with some other tools. But the drawback of it is we never know if the analysis becomes misleading and leads to the loss of a brand. There are many more such tools used. This proves the relationship between big data and digital marking has transformed into a more sophisticated one. Read more at:  https://channels.theinnovationenterprise.com/articles/where-big-data-marketing-meet

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Financial planning and analysis using Cloud, big data and analytics

The present events ongoing in the world economy give us the impression that we are amidst turbulence and chaos. To become more active and adjust to rapidly changing events, Finance Planning and Analysis (FP&A) departments should consider a vast amount more of data for forecasting. A lot of this can be achieved by making use of advanced technologies like Cloud, Big data and analytics. With Cloud, necessary information can be disseminated to required destinations. FP&A organizations are now moving from spreadsheets to enabling technologies and integrated platforms thus ensuring transparency of assumptions and drivers. Big data and analytics enables faster than ever processing of data. Using software, sifting through a chunk of unstructured data and identifying patterns has become easier. Read more at: https://channels.theinnovationenterprise.com/articles/the-rise-of-the-rolling-forecast-for-fp-a

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Delivering personalized services using Internet of Things

Delivering added business value to existing product and services can be done through the Internet of Things (IoT). IoT can help organizations improve relation with customers without much physical interaction. Using IoT, personalized services can be delivered in a less personal way. The key to launching IoT is to think big. Organizations should be able to identify the limitations yet be able to offer integrated services including IoT and other services and applications. After creating an understanding of IoT, companies should communicate its values, potential, risks and ecosystem roadmap implications. An example of how IoT can be used to deliver personalized services can of the car insurer who, in the event of an accident of his customer, is informed immediately through the car's on-board systems. Read more at:https://channels.theinnovationenterprise.com/articles/7726-why-a-customer-is-never-a-thing

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Improve treasury management services using Cloud

The finance function has undergone a metamorphosis in recent times owing to financial crisis and several other events. The treasurer is now being relied upon to cut costs and add value to organizations. Treasurers, today, face the challenge of doing more with less and this is being facilitated by cloud. Cloud facilitates movement of money and information between countries. Having a centralized treasury team can be done away with as using cloud platform facilitates management of operations from every corner of the world. Communicating with partners outside the organization is also made easier with a cloud-based treasury management system. Treasurers are being prevented from using Cloud due to safety and security of data issues which can be overcome with cloud providers providing better security than in-house systems. Read more at: https://channels.theinnovationenterprise.com/articles/the-treasurer-and-the-cloud

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Looking Beyond Hadoop

Hadoop has grown to be one of the best large scale and batch oriented analytics tool, used by webscalers as well as enterprises. Hadoop was designed to integrate with and complement the existing business intelligence of any corporation. But, the issue with Hadoop is that the adoption rate is very slow with the data center administrators. So, most developers have been looking at possible alternatives. Today we will name a few worthy alternatives that you can look at which have a potential of replacing Hadoop in the years to come. They are:
• Disco
• Misco
• Cloud MapReduce
• Bashreduce
• Qizmt
• HTTPMR
• Skynet
• Sphere
• Riak
• Octopy
• MapReduce
• Filemap
• Plasma MapReduce
• Mapredus
• Mincemeat
• GPMR
• Elastic Phoenix
• Preregrine
• R3
• Ceph
• QFS
• Cloud-Crowd
• HPCC
• Condor
• Storm
• HaLoop
• MapRejuice
• GoCircuit
• Spark
• Stratosphere
• Gridgain
• MongoDB
• Mars
• Minceat
• Dato Core
• HPCC
• MapReduce Lite
• Gearman

For more information visit:
http://www.fromdev.com/2015/03/hadoop-alternatives.html?m=0

 

 



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People Analytics: An Insight

As people are the most important asset for any organization, hence talent management is a crucial part for a successful organization. It is critical for an organization to control its people by talent acquisition, employee engagement, performance management and leadership and development for better performance.
The 5 Step paths to People Analytics:
v Identify the Stakeholders – Whichever be the area that might have been chosen, it is essential to identify everyone involved in that function.
v Establish Goals and Objectives – Quantifiable targets should be determined so that it can be assessed whether the target is achieved or not or for tracking the progress.
v Do a “reality check” – A realistic goal for improvement is to be determined.
v Bridge the gap – This step makes sure that everything that is needed for the process is present like people, processes and technology.
v Prove success with Data – Analytics in this step highlights the successes or the areas of improvement in the function.
Read more at: https://icrunchdatanews.com/5-step-path-people-analytics/

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Big Data Takes Part in Cancer Treatment

Cancer is a disease that had killed many people in past decades. Few years back it was not possible to treat a patient suffering from cancer. Now doctors have treatment of cancer. But it could more easier with the help of big data. Let us see how big data make it easier. 

Doctors collect data from pre and post treatment of patients. Predictive models can be formed using the extensive data that can help doctors to analyze whether a treatment is success or failure for some set of patients. There are some advancements where AI is used in diagnosis and treatment of cancer. With the help of big data analytics doctors can see which drugs are most effective in treatment. Also running analytical models doctors can find which drugs are not necessary and significant. Only necessary drugs can be used to target the specific forms of cancer. The systematic and data driven view for looking at cancer has increased the potential for its prevention. Read more at:https://channels.theinnovationenterprise.com/articles/big-data-in-cancer-revisited

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How to Reduce Energy Wastage using Big Data

If you keep an account of your store’s electricity consumption, you would realize that almost half of it goes to waste. Energy costs are sky high apart from the fact that more consumption leads to increased carbon foot prints. Energy use can be minimized by eliminating energy wastage. FirstFuel, a software start up monitors energy wastage using bi data. It uses the electric meter data, weather data GIS (geographic information system) mapping to create the required database. This database helps analyze energy performance without physically stepping into the building, thereby saving the time effort and cost. Read more at:

 

http://www.businessinsider.in/How-revolutionary-technology-is-tackling-the-200B-problem-of-wasted-energy-in-buildings/articleshow/47460842.cms#ixzz3f7Nme5ct

 

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Data Mining to Improve Patient Care at ICU

A wealth of past data is available in years of medical records of ICU patients, which can be used to measure risk levels in ICU. In case of predictable risks, checklists can be created of obvious risks like infections caused by catheters or tubes, delirium caused by overseadation etc. In case of less predictive risk, a system can be generated that gives a running risk report of the ICU on the doctor’s hand held devices. Medical centers have developed an application that pulls out data from the EHRs and creates a visual dashboard of the patient that helps doctors in real time monitoring, thereby personalising patient care. Read more at:  http://www.wsj.com/articles/hospital-icus-mine-big-data-in-push-for-better-outcomes-1435249003

 

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