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

CRM: Performance and Challenges

Enterprise cloud computing provides a clear path to CRM success. Today, however there are at least two major problems in operating with highly data-driven intelligence. Firstly, CRM databases start empty and secondly it isn't very intelligent. It is therefore time to re-imagine how businesses operate. In a world where we have lot of data points, outcomes should be accurately predicted. The next generation of CRM should monitor website updates, news, public filings, social networks, technology vendors, job openings and new hires. To know more, go through Jamie Grenney (Vice President of Marketing at Infer)'s article link: http://gigaom.com/2013/09/02/what-will-crm-look-like-in-2015/

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The role of Six Sigma Training in innovation

According to Sorcha Corcoran(Managing Editor at Whitespace Publishing Group), around eight years ago a division within Irish Life in Dublin decided to embrace Six Sigma which turned out to be a key driver of innovation. Six Sigma is a set of techniques and tools required for process improvement.The company found Six Sigma training useful because they came up with loads of fresh ideas.  Opportunities and problems are then picked up by the innovation team. This combined with market and customer research has helped them to drive specific innovations. Read more at: http://www.isixsigma.com/share.php?site=http%3A%2F%2Fwww.businessandleadership.com%2Fleadership%2Fitem%2F47367-six-sigma-driving%2F

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Social Media Tips for Business Owners

Social media is an effectual instrument for managing networking with other business owners, boosting a brand, targeting a specific demographic, and keeping in contact with existing clients. Paisley Hanson (writer and blogger on health and fitness), writes about some social media tips which will be helpful for the growth of any business. They are: Advertise on Social Media, Increase Your Market Share by building audience in social media,Using Social Media for promotions,Finding Joint Venture opportunities, Integrating Social Media with Other Marketing Channels. To know more, follow: http://www.socialmediatoday.com/content/5-social-media-tips-business-owners

 

 

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Internet of Things(IoT): Latest Trends

 Internet of Things (IoT) is the new trend in the world of technology. There are three factors which contribute to the growth of IoT. They are: Computer chips with radio communications built in are getting inexpensive, the cost of packaging small quantities of units has dropped with the growth of 3D printing and Sensor Technology has become more advanced, making sensors easy to build.  Recently, a number of groups have been formed in order to define standards for Internet of Things. Also, "Open Interconnect Consortium" standard have been established by various companies. To know about the various standards in IoT, follow this link:  :  http://www.networkcomputing.com/cloud-infrastructure/iot-standards-which-will-prevail/a/d-id/1307046

 

 

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Importance of an IT certification

What is the requirement of the IT certification skill? It is a recognized benchmark based on standardized skill, which shows a person's knowledge and dedication on a particular technological platform. This certification helps to group the person with a selected group of individuals. Having an IT certification gives a person an edge over others when it comes to hiring. In a volatile economic environment it helps a person to retain his/her job. Also helps a person to climb up the corporate ladder in his/her career. With the help of the certification a person can join a group of unique members which will improve his/her networking skills. It also enhances professional credibility. In some cases, organizations require certified associates and staff, so having a certificate will also be helpful for the company. In some scenarios, customers only want to work with companies that have certified individuals. Earning an IT certification on a new product can make a person a subject matter expert in his/her organization. Certifications may be the best way of rewarding one's efforts. IT certification ensures that corporate professionals are up to date with existing and new technologies. Read more at:

http://www.informationweek.in/informationweek/news-analysis/297740/certifications-benefits/page/1

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Role of Social Media in IT Hiring

63% of IT pros said that they would not consider a candidate for employment if they saw one to five social media comments about that company and 68% IT leaders said they would not consider a candidate if they saw a single negative social media post about his or her current employer, as seen by the TEKsystems survey. Social media plays a very important role in IT hiring. 68% IT leaders use social media to search for candidates and 82 percent use it to screen them. LinkedIn was rated as the top source for finding prospective employees. Facebook was second with 9%. 75% of IT pros rely on social media with 67% citing LinkedIn as the best source for finding jobs. Facebook came in second at 12%, followed by Google Plus at 7%. Read more at:

http://www.informationweek.in/informationweek/news-analysis/297739/social-media-matters-hiring

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Internet of Things in Forecasting Weather

Internet of things (IoT) is helping in monitoring the weather by gathering as much data as possible about the weather so that some idea is obtained about how the weather is evolving in different regions. IoT provides detailed data and makes it feasible to locate hundreds or even thousands of sensors per square mile in populated areas. Many weather forecasting apps are also available. One such app comes from Weather Signal, a brainchild of Open Signal, producing a live crowd source weather map which can be viewed by anyone. The BloomSky Tian is used for a more consistent set of measurement in weather forecasting. It uses Wi-Fi to connect to a home network and also has a camera to take pictures. Both these options are there for consumers, but IoT options are also there for civic and professional use. One such option is available from Envirologger. Read more at:

http://www.informationweek.in/informationweek/news-analysis/297673/monitoring-weather-internet

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People's viewpoint about customer service

According to Brian Cantor (Managing Editor and community Director of IQPC's Customer Management IQ), businesses develop and put into operation strategies without truly trying to understand who their customers are and what they want, thus producing suboptimal customer experiences. The question is does a customer actually want to engage in long, personalized calls to identify and resolve a business issue?  A customer may not be supportive in all cases.  But a business that ignores the desires of their customers cannot be called customer-centric. Being alert of this problem, the author discussed this situation and was exposed to some of the factors that "normal people" value when it comes to customer service.  They are as follows: availability of full service 24/7 and quick resolution-because time is money and effort is money.  Read more at: http://www.callcenter-iq.com/customer-experience/articles/what-normal-people-think-about-customer-service/

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Impact of Integrated Delivery Networks in providing solutions on life science brands

IMS Health, a leading international information and technology services company, provides clients in the healthcare industry with comprehensive solutions to measure and improve their performance by using anonymous healthcare data to deliver critical, real-world disease and treatment insights. Recently, it announced the immediate availability in the U.S. of IDN Impact - a solution to measure, compare and prioritize the influence of Integrated Delivery Networks (IDNs) on life sciences brands. Combining a unique data set of IDN influence metrics with business intelligence software and local market analysis, IDN Impact enables life sciences organizations to effectively shape and execute their commercial engagement actions. Read more at: http://www.imshealth.com/portal/site/imshealth/menuitem.c76283e8bf81e98f53c753c71ad8c22a/?vgnextoid=3edfb0cfe6228410VgnVCM10000076192ca2RCRD&vgnextchannel=5ec1e590cb4dc310VgnVCM100000a48d2ca2RCRD&vgnextfmt=default

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The need for social changes for smarter workforce

According to author Avneet Gupta (Country Manager, IBM Collaboration Solutions, IBM India), with advancement in technology and workforce dynamics, organizations today are totally focused on socially-enabling business developments. By rethinking and reworking the existing processes through a social business lens, the workforce gets more involved, operative and productive thereby delivering great returns for organizations. The biggest concern is therefore to better understand employees along with supervising the transformational changes required for constant innovation and alteration of the workforce. The progressive organizations globally have already invested in adapting to social changes for smarter workforce. Read more at: http://www.indiaonward.com/the-power-of-rethinking-the-work-through-a-social-business-lens/

 

 

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The Need for Market Intelligence Platforms in the Financial Services Industry

Several financial services clients currently are successfully building a robust suite of information platforms to offer a superior variety of resources for its researchers. With a unique platform that offers value to users, the job of researchers to help clients with current, assorted needs for market data is enhanced. The need for robust information platform is clearly due to a continual demand for market data. Other than the immediate availability of the data, researchers also need the data to be presented in a complimentary layout that boosts the usability of the data, which is a principal requirement of platform functionality. Read more at: http://blog.marketresearch.com/how-market-research-solutions-complement-financial-services-firms%E2%80%99-existing-data-resources

 

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Ready-to-Eat Food Industry: Emerging Trends

TechSci Research (a global market research and consulting company), recently published a report called “India Ready-to-eat Food Market Forecast & Opportunities, 2019". The report evaluated future growth prospect of India's Ready-to-eat food market. It provides statistics and information on market structure and consumer behavior trends and also includes projections and demand forecasting. This report will help decision makers to take sound investment evaluation. Besides, it also identifies and analyzes the emerging trends, challenges and opportunities available ready-to-eat food market in India. Read more at: : http://www.prnewswire.co.uk/news-releases/india-ready-to-eat-food-market-to-grow-at-22-during-2014-19-concludes-techsci-research-study-273568231.html

 

 

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Customer service through E-care

A European Telecommunications company wanted to lower its customer service operation costs but worried from the loss of revenue by doing so. In investigating its options, the company learned that 70 percent of existing customer-service contacts could be delivered through digital solutions that had proved effective in other industries. E-care involves the delivery of customer service via web-based user accounts, social networks, mobile phone, and the Internet rather than call centers or facilities open to the public. Such digital services are increasingly demanded by customers, who are already using digital platforms to research and review products, as well as broadcast their service frustrations. And it makes sense from a financial perspective, too. It has the potential to significantly lower the cost of customer service operations while increasing customer satisfaction. Not only this, but e-care also brings a company closer to its customers. Adopting e-care is worth the effort and that virtually every consumer-facing industry that has high customer-relationship needs can benefit from it. Read more at: http://www.mckinsey.com/insights/marketing_sales/why_companies_should_care_about_ecare

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Social Media Screening

Social media screening has become common among recruiters and hiring any official and also in many college admissions. It is primarily focused on job candidates and employers, but it can be applied to students, athletes, admissions offices and coaches as well. Employers are "googling" job candidates and searching social networking sites as part of their pre-employment background checks, and admissions counselors and coaches are using similar practices to make acceptance decisions about prospective students and athletes. An article in New York Times reveals that the reasons to reject - and accept - students based on their social media activity are similar to those used by employers. Read more at: http://www.socialmediatoday.com/content/social-media-screening-guidance-individuals-and-organizations-slideshare

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Social Media Analytics Market: A Report

Social Media Analytics has become important nowadays. But, what is Social media analytics? It collects data from social media platforms and blogs, and do an analysis of the collected data to extract information which in turn will help any organization to take the right step. It also facilitates marketers with a detailed understanding of the consumer and also helps to analyze the sentiment of customers to augment marketing, branding, and customer service. MarketsandMarkets (a global market research and consulting company based in the U.S), have recently published a report about GLOBAL SOCIAL MEDIA ANALYTICS MARKET - MARKET FORECASTS AND ANALYSIS (2014-2019) which will help the market leaders or new entrants in many ways. To know more about this, follow: http://www.fastmr.com/prod/871700_global_social_media_analytics_market_market.aspx?afid=302

 

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Advanced Text Mining: Classification of textual data from various feedback forums

A computer technology company wanted an automatic solution to classify customer problems and complaints that were posted on the company's Tech Forums as well as agent transcripts associated with customer calls that were stored in databases. It wanted a "text mining and codification engine" to which Natural Language Processing could be applied to categorize conversations automatically and thus aid Microsoft in analyzing text data objectively and quantitatively. The solution provided had four major milestones: Data Access, Data Loading, Classification Design, Development Accuracy, and Validation Accuracy. The text mining framework provided was able to categorize the texts automatically into five stages of classification. Thus with the assurance of accurate results, the company was able to take quick informed decisions based on customer feedback. Read more at: http://analyticsindiamag.com/advanced-text-mining-by-extracting-insights-from-various-forums-helps-in-addressing-and-analyzing-customer-feedback/

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Big Data vs. Data Privacy

According to author Shreya Sharma, with Big Data becoming an essential part of an organization, it is getting harder to balance it with data privacy. Marketers should be clear about the data they are collecting and make sure that data storage and security infrastructure are safeguarded, otherwise it can have serious effects on the company as most consumers expect a company to protect their personal data, and their consuming behavior depends on this. It is therefore crucial to bear a high level of awareness with regards to the significance of data privacy and protection. The responsibility should be seen as norm and not just be restricted to people who are directly involved in mining big data. To know more, please follow: http://analyticsindiamag.com/in-action-how-companies-should-follow-a-data-centric-security-approach/

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Basics of customer satisfaction

Customer satisfaction is important in any organization but the main criteria is to achieve and maintain it. Customer satisfaction can be achieved when any organization gives importance to service. But, the key question is how to retain quality service? To know more about quality service, please follow John Tschohl (Founder and President, Service Quality Institute, Minneapolis)’s article link: http://www.callcentertimes.com/Home/tabid/37/ctl/NewsArticle/mid/395/CategoryID/1/NewsID/828/Default.aspx

 

 

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The Big Benefits of Small Companies from Call Centre Analytics

According to Tracey E. Schelmetic (TMCnet Contributor), many small organizations with contact centers that could have improved their services to customers by using analytics were earlier forced out of competition. They were unable to bear the high capital costs of instigating such solutions unlike big companies with greater access to large amounts of data resources that have been able to use analytics solutions to run their businesses more efficiently. However today, cloud-based analytics solutions are helping even the smallest contact centers by turning all the communications with customers into useful data that can be used to provide better analytical solutions in the customer support operations thereby, leading to superior customer satisfaction ratings. Read more at: http://www.tmcnet.com/channels/workforce-optimization/articles/383244-smaller-companies-reaping-large-rewards-from-contact-center.htm

 

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Companies cash in revenues as catchy videos go viral

 

 A number of companies are creating new avenues for revenue generation by thinking out of the box and encouraging amateur-made catchy videos on social media platforms like Facebook and Twitter. This approach helps to nurture talent. Famebox, a company supported by Malaysia's Astro Group, is on a project where it aims to create "webstars" and make profits in an unconventional way, by making videos go viral so that they bring in at least a million hits. Revenue can also be generated by sharing with YouTube but it depends on the sponsorships from brands that are looking to advertise on social media. According to Kunal Rao, co-creator of The East India Comedy, the shift to online media for satire and commentary is due to the rising censorship on TV channels. To know more, read at: http://articles.economictimes.indiatimes.com/2014-08-16/news/52873607_1_video-online-social-media-viral

 

 

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