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

DIFFERENT DEFINITION OF BEING SMART IN THE AGE OF AI

According to the author, in this age of technology and machines, where almost everything is being replaced by the machines for avoiding errors and for the simplification of work, the old definition of being smart is no longer valid. The new definition of being smart is the one that makes us improve our high order thinking skills. The new definition of being smart is determined by the quality of our analytical skills, effective listening and the ability to relate for better understanding of the goals. Read more at http://smmry.com/https://hbr.org/2017/06/in-the-ai-age-being-smart-will-mean-something-completely-different#&SM_LENGTH=7

 

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THE DETAILED ANALYSIS OF NATURAL LANGUAGE PROCESSING

Natural language processing is the amalgamation of artificial intelligence and computational linguistics so that there can be smooth conversation between the computers and humans, and it does so by empowering the computer to analyze the input, that is, what is being said by the user and processes the contextual meaning. Following are the areas where NLP is being used efficiently: 1) NLP is used for the purpose of communicating meaningful information extracted from the complex big data sources 2) NLP is used for data privacy, in comparison to the traditional old methods, it helps the businesses to detect the phishing and malware sites in a much easier way. 3) NLP is used for the better understanding of the questions of the users and answering them in a seemingly natural human language. Read more at http://www.dataversity.net/natural-language-processing/

 

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THE INTERNET AND MOMS: A RESEARCH

According to a recent report from Edison Research and Triton Digital, moms in US spend more time on the internet rather than listening to music on radio or watching television. Research on 248 moms says that about 55% of them use primary smartphones to access internet, 36% of them use desktops and laptops for the same and 9% use a tablet. 38% moms are the subscribers of Amazon Prime which is an online shopping portal and Facebook, WhatsApp, Pinterest, Instagram, Snapchat, Twitter, LinkedIn are some of the common social sites and apps which are commonly used by them. It is also found that 93% of moms access social networking sites daily and 62% of them access it on a multiple time basis daily. Read more at: https://www.marketingprofs.com/charts/2017/32087/the-media-and-internet-habits-of-moms-in-2017

 

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TWITTER TAKING HELP OF MACHINE LEARNING

Twitter will now be shaking hands with a machine-learning startup that specializes in working with images, to deliver better video and picture content to expand its Machine Learning and AI parts. According to the sources, nearly $150 million is invested in this machine learning startup. A team of engineers will help Twitter by letting the users explore new experiences and share them. Read more at: http://economictimes.indiatimes.com/small-biz/startups/twitter-allows-users-to-share-140-second-videos/articleshow/52848116.cms

 

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NEW TECHNOLOGY OF IPHONE

At the 10th anniversary of the original iPhone, Apple decided to do something unique. The design changes brought on the iPhone includes edge to edge LED and many more. According to the sources, more changes can be brought like eliminating the home button by building the fingerprint sensor into the display. Read more at: http://www.firstpost.com/tech/news-analysis/wwdc-2016-siri-imessage-and-maps-open-to-third-party-devs-3683655.html

 

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BUSINESS GROWTH WITH FACEBOOK LIVE VIDEOS

According to the author, Facebook is the most preferred medium for the people to connect with their followers and being able to get in touch with the new ones. Following are the ways by which Facebook live videos can help a business grow: 1) Winning  trust of the clients by showing them the glimpse of the inner perspectives and future goals of the company. 2) Facebook live video is the best way to advertise a new product. 3) Collecting information, advices and suggestions, by taking the Facebook live comments into consideration. 4) Answering to the general sales queries and FAQs. 5) Making the clients aware of the upcoming events and activities of your company. 6) Conducting a free live training session for the audience. Read more at: https://thenextscoop.com/boost-business-facebook-live-videos/

 

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WHY THESE DAYS REFERENCES ARE NOT INCLUDED IN RESUMES?

Earlier we were including references and career objectives but now we are not including it because of the new modern trend that is going on. The main reason behind is it makes your resume look old or outdated. One thing we can do is, we can provide one reference upon request or if they ask for it. This doesn’t mean that we should not have a reference list or carry a reference list. We should carry it separately, which upon asking we can quickly and easily show them. This ultimately will show a respect and dedication towards a job and hopefully it may get u a place in his organization.

Read more at: http://www.business2community.com/human-resources/no-shouldnt-include-references-resume-01807149#32CvpADKecwbQ5Hb.97

 

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Tricks to spot perfect customer

Marketing the contents those appeals to the customer or the client is best method to attract them. For this purpose, a good and catchy title having numerals and adjectives could do a lot good to the firms. Giving incentives and offers can help to identify the genuine customers and give many details about them. Also creating market content has 3 stages i.e. awareness among customer about your firm, consideration about other competitors and decision of the customer to select your brand or some other, hence care must be taken for each stage to attract the targeted customers.

Read more at: http://www.business2community.com/customer-experience/3-marketing-tactics-land-dream-customer-01832390#2uJv11PDEbHeKFVm.97

 

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WHO IS MORE ADVANTAGEOUS? A CMO OR CFO

Now a days big companies like Coca-Cola, Mondelēz, Tyson Foods, and Kellogg are adding a new position known as CGO (Chief Growth Officer) in place of CMO (Chief Marketing Officer). Here question arises do we really need a CGO? Was CMO not enough to meet the current business growth ? What is the work of a CGO? Why CGO is being given importance over CMO? Role of CGO is amorphous. He has to take charge of the Marketing department into R&D, Customer Service, Analytics, and more. Even some times he is given charge of sales department. Work load of CGO varies from company to company. He can also give value to a business when CEO lacks a background in customer experience, communication, and engagement. Company’s performance not only depends on higher authorities like CMO, CGO and CEO but also employees working inside a company. So judge and choose a best option for your company.

Read more at: http://www.business2community.com/leadership/cmo-vs-cgo-business-need-chief-growth-officer-01835441#rixIFIrtpwyfDrZG.97

 

 

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Cloud solutions making it easier for small business owners

Cloud solutions for small businesses is efficient as you don't have to worry about physical storage of important documents, not pay anybody to maintain it and can access it anywhere, anytime you want to. You can do online banking and pay off loans and bills on the go, manage payroll and attendance of employees on the cloud. With cloud collaboration tools, employees can be connected via emails and video chats. Cloud solutions can help one to manage social media where you can plan the best posts at one time and queue them up to get published one by one. Cloud accounting software lets you monitor your company's financial health, check cash flow and makes you independent of an accountant. Read more at :

http://www.business2community.com/cloud-computing/use-cloud-solutions-business-save-time-money-01874209#6YlfjXuxx1wflP1Z.97

 

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Better Data Integration leads to better business growth

Business Intelligence software enabled the visualization and deciphering of data but it failed to understand the correlation in the data. Hence, Business Optimization evolved from BI and enabled stakeholders to get wider insights on data interaction and optimize business growth. This free passage of information allows the organization to further utilize raw data only if the company has industry-wide open API standard. Together it is called AoE (Analytics of Everything) now enables organizations to go through an integrated combinations of people, processes, data and technology to have greater insights on the business. Read more at :

https://www.domo.com/blog/transforming-your-data-from-intelligence-to-optimisation/

 

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Why and How to recruit mature workers after their retirement

Matured retired workers have good experiences and developed skills from their lifetime of work. Recruiting them would be considered as good business for any organization and also potential retirees want to work to enjoy work-life and also income. The recruitment will work out if the workplace is age- friendly and the young employees delete the concept of age-difference and consider them as good influence to the company. Mature workers are more loyal, keen to learn new techniques and also have a good network of professionals and marketing contacts. To reach out to older workers, companies should use the talent recruitment agencies that focus on senior candidates like AARP. Demographic forces are prompting organizations to adopt this strategy for better ROI. Read more at :

 https://www.td.org/Publications/Blogs/Human-Capital-Blog/2017/06/The-Art-of-Recycling-Retirees-and-Potential-Retirees

 

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Why Social Business Intelligence is the next big thing in data management

With every passing day, improvement in technology keeps making our lives easier and more organized. Social business intelligence is a technology which allows systematic data sharing, computing and analysis to obtain an efficient market data through different social media analytics. It is of utmost importance for companies today to have an efficient business management system which is capable to deal with huge databases coming from social media and IT systems. Also, the systems should be accessible and cost-effective. But, the occurrence of cyber hacks and security impeachments hamper the growth of this market. In the coming years, open-source software framework systems like Hadoop and MapReduce will benefit the companies in efficient data management. FMI reports suggest that business intelligence tools are likely to take over the BSFI, IT and the telecommunication sector by 2017. Read more at

 http://www.business2community.com/business-intelligence/social-business-intelligence-become-important-enterprises-01826088#zh5mpOHGhiZODQ7Y.97

 

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How Telcos should analyze customer behavior

Telecom companies these days should be very active in providing their services and shift their attention from customer acquisition to customer retention in order to survive the head-to-head competition in this extremely fickle market. The companies should use the right technology to study their customers and make the right business decisions. Understanding the consumers would help the companies in efficient targeting and positioning in the market. But, the sheer magnitude of the data in the telecom industry might be a problem while storing and analysing. So, to acquire a more practical information, the companies should ask the right questions and find the correct software to be used for data analysis, so as to reach their goals efficiently. Read more at

https://www.smartdatacollective.com/customer-behavior-analysis-telecom-arena/

 

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Pioneering in the Field of Healthcare

India after having taken steady and fast steps in the field of healthcare has reached a point where it tends to supply over 20% of the world’s generics and about half the vaccines globally. This upsurge is because of the advancements and detailed research made in the field of biology which has enabled the pharmaceutical companies to understand specific health ailments and target them accordingly. Even after all the innovations and developments that have been taking place India’s position in the health related sustainable development seems to be grim. To address this, the government has to come up and take the necessary steps. It is necessary that we embrace innovation. Care should be taken that there is no disruption arising in the health systems and also that there is no financial crunch faced by the pharmaceutical companies.                                                                      TO READ MORE: 

http://www.livemint.com/Opinion/mpZHFl1gJVgtJ39A3tS2yL/Indian-healthcares-innovation-imperative.html 

 

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GST is NOT a Whammy!

With the rolling out of the GST, there has been a whole set of expectations and  beliefs as to how this entire system is going to have an impact on the economy and bring changes in the existing structure. The main reason behind the fight to pass the GST was to subsume the various existing taxes into just one tax (one nation, one tax) and to mitigate the cascading effect of the taxes. The expectation is that the GST is going to increase the GDP by 100-150 basis point in the coming few years. But there are analysts who believe that this new system is going to have a short term negative impact and this shall last till the time the economy gets into the line of  this new system. But this disruption will mostly be reflected in the manufacturing activities. But at the end, the story is that the GST is being seen as a blessing in disguise, from which the economy is definitely going to be benefited! TO READ MORE GO TO 

http://economictimes.indiatimes.com/markets/stocks/news/how-painful-will-be-gst-for-stock-market-not-as-much-as-vat-was/articleshow/59348446.cms 

 

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Personalized Marketing

Personalized Marketing is all about using customer information- their interests and behavior and to deliver the valuable information at the right place, at the right time, to the right person. It is valuable because we are barraged with so many generic ads that it gets fade away into the background. Furthermore, personalized marketing filters out all the gratuitous information and gives control to the consumer. It takes into account that customer is a narcissist. There are certain benefits of personalized marketing. Its main goal is to increase sales. It helps in building strong relationships with the customer and improving their experience with the brand. Personalized marketing technology works on analytical data. So, the more data we use, the easier it will be to make informed choices.  But, it is a major challenge to gather the right data and understand the customer's interest and behavior. Read more at: http://www.business2community.com/marketing/what-is-personalization-in-marketing-01871212

 

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Making Data and Analytics the Backbone

Usage of technology, right tools and knowing the significance of people and organizational components is necessary for the successful functioning of data and analytics(D&A). The malfunctioning in any of these may cause the D&A initiatives to falter. A successful D&A function encompasses more than a stock of technologies and D&A should be incorporated into all key decisions across sales, marketing, supply chain and other core functions. For the effective building of D&A capabilities a clear understanding across all sectors is required. The American sports leagues being the best example where the D&A function is used the most. They used D&A to predict the various statistics during the game. Usage of D&A was a success that the league had not achieved in the past. Keys to success included a clear strategy , a commitment across the organization to seeing it through with an unwavering eye on improving the experiences for everyone involved and also to avoid allowing strategy setting and decision making to occur in organizations, which can shadow technologies, competing versions of the truth and data analysis paralysis. It should be taken into consideration that D&A function should be a key contributor to the development & execution of business strategy, the importance of leadership should be recognized and checks should be put on cultural factors. With all these factors incorporated D&A can not just achieve growth but also let business leaders to anticipate what customers will want/need before they even know they want/need.TO READ MORE GO TO: 

 https://hbr.org/2017/06/how-to-integrate-data-and-analytics-into-every-part-of-your-organization 

 

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AI Making Wonders

AI and machine learning is making progress and covering every sector possible, and this aspect has lead it to make advancements in the field of medical science as well. AI is now being used to detect which fertilized egg will lead to healthy babies in the process of in-vitro- fertilization. IVF in its initial days was highly dependent on the experience of the doctors and the embryologists for the detection and choosing of the correct eggs, but with time, this scenario has changed. Usage of AI in this field has lead to the elimination of the potential, human errors, accuracy in detection and speedy results. Scientists believe that instead of human looking at thousands of images, a piece of software looking at them could lead to an eventual learning and hence better predictions. TO READ MORE GO TO: 

http://analyticsindiamag.com/ai-steps-decide-embryo-will-result-ivf-success/ 

 

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Proficient Data Interpretation

We all need data and findings to go about our work in our respective organizations and, to some extent, make our own deductions from a database available to us. To understand and consume our data well, we don't have to be an expert in interpreting the data, rather we could use this opportunity to learn and also gain knowledge to help ourselves in future data interpretations. In fact, we should seek help from the team in charge for more information. An organizational data can help you know a lot about the people working in it and the trends of your organization. One shouldn’t let inexperience hinder data implications. A little practice and confidence will help you go long in this path. Read more at :

 http://www.business2community.com/big-data/responsible-data-consumption-know-enough-not-dangerous-01697405#EBAq0QXBKKRFl0Qm.97

 

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