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

Lessons learnt from sports analytics

Nowadays, analytics is a key factor in sports industry. Analyst is part of any team whether it is a baseball team or an international soccer team. Yet, some sports team does not appreciate the value of analytics in the sports industry. Lloyd Melnick (CEO of fiveonenine games), in his article writes about some lessons on how sports teams use analytics that are relevant to all businesses which Davenport (Author of the book: Competing on Analytics) concluded. To know more about these lessons, follow: http://lloydmelnick.com/2014/09/04/lessons-from-sports-analytics/

 

 

 

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Valuations of stocks: Exceeding estimates

A lot is at stake in the stock market because average stock valuations are in high-normal range. Most analysts agree that if the average P/E Ratio of S&P 500 is anything greater than 20, it means stocks are in a rather high-priced region. There are several factors however that might create problems. To know more go through the article by Julian Close (business writer, PRA International and the United Nations Department of Peacekeeping) at: http://www.marketintelligencecenter.com/articles/612420

 

 

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Personalize Websites and Emails: An Insight

A recent report from Retention Science said that 31% of online retailers in the US with annual marketing budgets exceeding $1 million do not personalize their websites and of the 69% of companies that do personalize their websites, just 21% offer personalized offers to visitors. The most popular form of website personalization for companies is product recommendations. To know more, follow:  : http://www.marketingprofs.com/charts/2014/25927/how-much-do-retail-marketers-personalize-websites-and-emails

 

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Market intelligence can help agricultural development

In today's world, agriculture is not enough for farmers to sustain and to move on to the next level. Business-oriented agriculture should be encouraged. Without proper market intelligence, profit making is impractical. Farmers are not aware of the market demand and what consumers want. So, farmers and traders should work together to promote products required in the market and fix prices using technology in farming. A programme focusing on this issue was organized by National Horticultural Research and Development Foundation, Coimbatore, and Department of Horticulture, Madurai, under the Mission for Integrated Development of Horticulture. They are trying to identify the horticultural needs of farmers and bring out solutions. Read more at: http://www.thehindu.com/news/cities/Madurai/market-intelligence-is-crucial-for-farmers/article6454553.ece

 

 

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Building A Brand

Smartphones and tables enable consumers to stay connected and share their good and bad experiences. Marketers have to think mobile devices as a way of collecting valuable feedback. Mark Penson (CMO of Survey Anyplace), writes in his article how marketers can tap into customers' thinking to build their brand. Read more at: http://www.marketingprofs.com/articles/2014/26150/always-on-marketing-to-the-always-connected-five-ways-to-tap-into-customer-thinking

 

 

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Marketing Analytics: An Insight

Nowadays, the success of digital marketing depends on analytics and if it is used effectively, then marketers can recognize trends, uncover insights and take action such as personalizing content and remarketing. But, data loses its value if action is not taken timely. Now, the question arises that how marketers tackle the immense volume of data and take action. JD Nyland (Director of product management for Adobe Analytics), writes in this article how analytics can help in taking smarter action. To know more, follow:  http://www.cmswire.com/cms/digital-marketing/5-ways-analytics-enables-smarter-action-026782.php

 

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Small Business Growth possible through Local Markets

Today's small businesses are setting their focus on their own unique products and services rather than the best piece of real estate for showcasing. They now cater to local markets and potential customers and are shifting their focus towards local SEO. There are many valid reasons for this. Customers simply choose to spend their hard earned money locally as it gives a feeling of economic stability. To know more about why and how to optimize a small business presence with localized SEO efforts, read the article by David Goehst (Entrepreneur, Expert Blogger, and Search Engine Pro) at: http://www.huffingtonpost.com/david-goehst/how-local-seo-speeds-up-small-business-growth_b_5830646.html

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Future Growth in Retail Banking by means of technology

According to Bjorn Cumps (digital banking professor and director of the Centre for Financial Services at Vlerick Business School), retail banks would find it very challenging to increase net bank income because of the recent financial crisis. So, the only way these banks can look for possible future growth is via technology. Retail banks have been testing with new technology like mobile banking apps, prepaid cards, QR-code based payments, digital advisors, social media analytics tools and location-based services etc. The true winners in retail banking will not be the ones who approve new technology but is the one with new financial ecosystem, including tech companies, energy companies, retailers, real estate agents, notaries, lawyers and many other service providers, offering integrated services that create genuine customer value. Read more at: http://www.theguardian.com/sustainable-business/2014/oct/07/retail-banks-growth-hopes-technology-value-customer-apple-pay

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Marketing Strategy: is it flexible?

Organizations should keep their marketing strategy flexible. Goals and strategy should be different. Caroline Melberg (Chief Engagement Officer, Small Business Mavericks) writes in her article about some ideas of different goals and strategies that a company should follow. Read more at: http://www.socialmediatoday.com/content/your-marketing-strategy-flexible-0

 

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IVR Design can help in improving customer experiences

Interactive Voice Response is important for any call center. But, what is an Interactive Voice response or IVR? It is a technology that makes customer interactions efficient and streamlined. Some IVR’s are complex in design. Some companies don’t use IVR, and others have such a poor design. Richard Manulkin (Connect First), writes in this article some tips on how an IVR design can help in improving customer service.Read more at: http://www.callcentertimes.com/Home/tabid/37/ctl/NewsArticle/mid/395/CategoryID/1/NewsID/861/Default.aspx

 

 

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Evolution of the cloud

The first milestone in cloud computing history was marked by the arrival of Salesforce.com in 1999, which is the pioneer of the concept of delivering enterprise applications via a simple website. . The next development was Amazon Web Services in 2002, started providing a suite of cloud-based services including storage, computation and even human intelligence through the Amazon Mechanical Turk.In 2009, as Web 2.0 hit its stride, Google and others started to offer browser-based enterprise applications, though services such as Google Apps. According to Dan Germain, chief technology officer of Cobweb Solutions, “The most important contribution to cloud computing has been the emergence of "killer apps" from leading technology giants such as Microsoft and Google. When these companies deliver services in a way that is reliable and easy to consume, the knock-on effect to the industry as a whole is a wider general acceptance of online services.” To know more about the history of cloud, go to: http://www.computerweekly.com/feature/A-history-of-cloud-computing

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Best Cloud-based Business Solutions for Marketing Intelligence

Businesses are shifting to cloud based systems to boost business intelligence. Small to medium business enterprises are now shifting to cloud based applications to enhance their marketing strategies. However, large firms are using these solutions to expand their market. Cloud business intelligence (BI) provides productivity tools and applications that will benefit organizations. These benefits include the speed of deployment speed and implementation of various business apps, scaling up of web applications and the integration of business intelligence apps to enhance business productivity and cost effectiveness. There are many cloud business intelligence solutions available in the market today. To know more about the best cloud business intelligence solutions that you can find in the market today, read the article by Jason Bowden (contributor to Business 2 Community) at: http://www.business2community.com/cloud-computing/best-cloud-business-intelligence-solutions-marketing-analytics-01006959#4THfUeqShLhspv3m.99

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Improvement in the Pharmacy Department via Lean Six Sigma

According to some renowned pharmacy technicians, the application of LSS techniques in the inpatient pharmacy department at the University of North Carolina (UNC) Hospitals brought in a great deal of improvement. Kaizen ("improvement") events were conducted by the UNC inpatient pharmacy to progress work flow and customer service to patients and nurses. Overall, these improvements have refined work flow and improved employee and customer satisfaction. With LSS as a tool, UNC is constantly striving to promote the culture of continuous quality improvement. To know more read the article by Jami Mann, PharmD, MBA ( PGY1 health system pharmacy administration resident at UNC Healthcare), Allison Dipper, PharmD candidate (pharmacy technician at the Central Inpatient Pharmacy at UNC Healthcare), Erinn Rowe, PharmD, MS (clinical manager at UNC Healthcare)and Chad Hatfield, PharmD, MHA, BCPS (assistant director of operations at UNC Healthcare) at: http://www.pharmacytimes.com/publications/health-system-edition/2014/September2014/Lean-Six-Sigma-in-the-Pharmacy-Department

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Social media: the most popular interaction platform for businesses

According to Manish Godha (Founder & CEO, Advaiya Solutions), social media seems to be the most attractive media through which a business can interact with an audience. Individuals allow an exceptional view into their thought processes, by leaving traces of their activities - personal, social and professional - on the internet. Social analytics attempts to draw relevant understanding and inferences from them which could be used by different divisions of various brands. It is very difficult to ensure that the analysis is relevant and reliable. The most common use of social media analytics is to mine customer sentiment in order to support marketing and customer service activities. It is important that the models correspond to the business context and the intervening mechanics are accounted for. Read more at: http://www.business-standard.com/article/management/social-listening-for-market-intelligence-114092100688_1.html

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Email Marketing: Common Mistakes

With the growth of business, one has to cater to a larger audience and that is the time to consider a new email service provider (ESP). Often CMOs and CTOs who want to upgrade ESPs meet with disappointment, because migration to a new platform can be tricky and it can have a positive or negative impact on a company's reputation and, therefore, in customer communications. Email is a channel that companies rely on for generating revenue, and mistakes can have a negative impact. Anthony Marnell (VP, North America of Mailjet), writes in his article about the mistakes that companies can avoid and save time and can expect a positive outcome. Read more at: http://www.marketingprofs.com/articles/2014/26101/five-deadly-email-platform-migration-mistakes-to-avoid

 

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Data-Centric Management Culture

A data-centric management culture is as important as the technology investments in a company. Data science i.e. the extraction of useful information and knowledge from data is considered to be within the operational structure of financial technology organizations. For most financial services organizations, 60 to 65 percent of IT budgets are dedicated to maintaining the core transaction processing systems. After general operating and personnel costs are deducted, less than 10 percent of the budget is left for new systems development. To know more about how these companies who are trying to incorporate data analytics processing, go through the article by Don Campbell (Managing Principal & Founder, RightCourse) at: http://www.banktech.com/big-data/the-importance-of-fostering-a-data-centric-management-culture-/a/d-id/1315979?piddl_msgid=261430#msg_261430

 

 

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Retail Analytics: Various tools

Retailers are using analytical tools in order to drive sales. Organizations use tools such as pricing and assortment optimization, location analytics, and customer-driven marketing. Still, many retailers are puzzled to prioritize their analytical approaches. Some companies are astounded by the large number of options they have, while others find it difficult to manage data provided by various point-of-sale systems, websites and other internal transaction processes. Another reason is a lack of skilled analysts which hampers progress. Thomas H. Davenport (Distinguished Professor of Information Technology and Management at Babson College in Massachusetts), writes in his article about the strategies and approaches organizations must follow while choosing their analytical tools. To know more, follow: http://www.teradatamagazine.com/v09n04/Viewpoints/The-potential-of-retail-analytics/

 

 

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Influencer Marketing Strategy: An Insight

In today’s world, marketing is everything. If you cannot influence your customers, you will suffer loss. So, for that marketers try out different kind of things to influence customers. They bombard them with messages about how their products or services are better than those of others. Every company is giving such messages. The competition is stiff and that’s why companies have to make sure that they are heard. Hence, a new concept has come up - influencer marketing. But to understand influencer marketing, we need to understand who influencers are. Influencers are people who have established credibility and influence by their reliability and authenticity.  They can be bloggers, influential customers, thought leaders, journalists, consultants, industry experts. Andrew Cravenho (CEO of CBAC) writes in his article about some important steps that will help you build a successful influencer marketing strategy. Read more at: http://www.marketingprofs.com/articles/2014/26058/how-to-build-an-influencer-marketing-strategy

 

 

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Laws of Social Media Marketing

In today’s world, social marketing media is important and companies should take advantage of it. But, you must know how to take advantage of this. So, understanding of social media marketing is an important to understand social media fundamentals. Susan Gunelius (CEO of KeySplash Creative Inc.), writes about 10 laws of social media marketing and how this will help build a base that will serve customers, brand and most significantly – the bottom line. Read more at: http://www.entrepreneur.com/article/218160

 

 

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Marketing Strategy to Success

According to Darian Shirazi (founder of Radius and a Forbes contributor), marketers measure success based on the dollar value of pipeline they are able to generate in order to increase revenue. The marketers, who can reach their goals, work closely with their sales team who can find appropriate customers. The ones who struggle to reach their goals are not aware of their sales team's ability to close deals. To highlight pipeline, and to find customers, marketers need to understand deeply how to market properly. Hence marketers today, have access to new data sources, superior analytics, and better integrations that allow them to generate high value pipelines. Read more at: http://www.forbes.com/sites/darianshirazi/2014/09/16/marketing-automation-2-0-marketing-intelligence/

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