SigmaWay Blog

Here are a few tips on how to bridge that gap between big data and the real world. New product development is a field full of quantifiable unknowns. While working on a new concept, the decisions are based on evidence that proves that their idea outmatches the other alternatives. Identifying connections between the data on social media and online communities and the comparison of this with their competitors’ development policies then become their groundwork for smarter solutions. Visualization of data quickly converts the data is understandable forms. This speeds up the decision process. It is important to note that more data doesn’t always mean smarter data. The motive should be to capture relevant Read more at: http://www.innovationexcellence.com/blog/2015/06/29/actionable-ways-big-data-analytics-can-actually-improve-innovation/

Designing, a crucial concept, is the creation of a plan or convention for the construction of an object or system. We always plan before commencing to do something. Those companies which have successfully integrated both designs for aesthetics are the ones to have benefitted the most.  We can build strong designs based on our data and the following examples below emphasize on its use.

1) Smart car creation - Although Ford has been the first major car company but it has created a fresh company that have employed some technologies to improve the quality of the cars.

2) A/B testing real products - It is applied for the creation of efficient marketing choices.

3) Architectural design and testing - It is used to test the coherence of any structure.

To know more about this study, please follow the link: https://channels.theinnovationenterprise.com/articles/designed-by-data 

Is your CRM system making you work but isn't working out for your company then here are some tips that will come handy. Oliver Lopez, founder and CEO of Structsales, in his blogpost on Hubspot Blogs puts down 5 points thinking along which one can make for a great CRM system for their organization.

• The relationship between sales process and CRM 

• Find your key performance indicators

• Give Reps clear and compelling guideline

• Link sales process to buying process

• What you need in CRM 

For more takeaways from this piece of information follow the link http://blog.hubspot.com/sales/how-to-make-crm-work-for-your-organization-and-not-the-other-way-around

Big Data has always presented new avenues to make huge profit in almost every sector. However, it would be our short sightedness to associate big data benefits only for profit seeking organizations. Non-profit organizations are also increasingly using/gathering huge data to drive the social change they aim at. Sima Thakkar, content marketing manager at Umbel and founder of goodindiangirl.com, enlighten us about the big data projects carried out by different NGO's. To have a look at all these interesting big data initiatives driving the change we all want, follow the link http://www.smartdatacollective.com/sthakkar/323866/when-big-hearts-meet-big-data-6-nonprofits-using-data-change-world

As the number of smart wearable technology is growing, companies who have the potential to rapidly optimize their value chain are growing into a digital business through competitive advantage. Customer’s loyalty is also increasing with the changing rules of their digital lives. Their experience can be transformed by improving their understanding with analytics, enhancing top-line growth and through social media. To transform operational processes, process digitalization is must along with enabling proper staff and their performance management. Thus to transform business, every business is now digitally modified to make digital globalization. In this way, companies worldwide are adapting digital transformation with social media, mobility, big data analytics and cloud to make a better business plan than others. Read more about this article at:  https://channels.theinnovationenterprise.com/articles/digital-transformation-a-need-of-now

How to make my content impressive and engaging- This is one question that haunts every brand now and then. With standard formatted blogpost becoming too common and dry to consume, the appetite for more creative and engaging content is increasing. Sylvia Jensen, marketing director at Oracle Marketing Cloud, shares 12 awesome ways to keep your brand message relevant and at the same time makes it stand out from the noise. Some of our picks are:

• Framing a quiz, it will be more engaging

• Examine a case study

• Explore different charts

• Put things in a comic strip

• Write a guide or glossary

For more, have a look at http://www.business2community.com/content-marketing/12-awesome-content-marketing-ideas-arent-blog-posts-01258747

Remote patient monitoring (RPM) is a technology (read wearable) that facilitate monitoring of patients outside the conventional clinical setup. This will basically help increase the intensity of care and decrease the cost of healthcare delivery. Jack Kreindler, MD is chairman, chief medical officer and co-founder of Sentrian, hopes that this technology will help in hugely cutting down avoidable hospitalization and dealing with the problem of chronic diseases which is a burden on every economy. In his special guest feature in Inside Bigdata, he elaborates on Remote Patient Intelligence (RPI). Till very recently this seemed to be a far dream but it seems to change in the near future. Cheaper wearable/bio sensors, omnipresent smart phones, more connectivity, highly evolved machine learning and big data analytics hold the keys for the realization of this dream. For more on the scope of this futuristic technology, follow the link http://insidebigdata.com/2015/06/10/the-promise-of-remote-patient-intelligence/

As the Internet evolves with the usage of Big Data and Cloud, the shift from cloud data to cloud action is eminent. This shift has large implications for consumers. In five years’ time, the number of connected devices will grow to near 25 billion. From regulating the temperature of the house using smart thermostats to using reports and dashboards for a clearer insight to make smarter decisions. There is a need of a system which we can entrust our identity with, where our identity is safe while making transactions in the background. For this, companies of types must begin to bridge the gap between the physical and digital worlds. Only then can we begin usage of the delicate frameworks in a network based on our truly unique digital identity. Read more at: http://recode.net/2015/06/29/big-data-vs-best-data-the-future-of-you-in-a-networked-world/

Several sophisticated data techniques have been used to determine prospective services and specialties preferred at a particular geographic location. For example, psychographic data, provided by a customer analytics company, reflected local healthcare consumption trends. Demographic and marketing data, from health-planning agencies and hospital associations, as well as electronic health records (EHR) should be studied to visualize new market opportunities, i.e. new locations for health-care facilities. Healthcare strategists like retailers, are using geo-analytics—visualization tools incorporating sophisticated geographical and marketing data—to determine prospective health-care facility locations. Healthcare organizations should be analyzing data extracted from EHRs, along with health insurance claims data to understand the services used by potential healthcare customers.
Read more at: http://www.modernhealthcare.com/article/20150530/MAGAZINE/305309978/no-more-guessing-health-systems-tap-sophisticated-data-tools-to-pick

Sigmaway consultants have worked with clients in benefits solutions workspace providing analytics on healthcare plans. For more details visit http://www.sigmaway.us/

Digital privacy is dangling on the edge of the cliff as public cynicism has always been high. To battle this, there has been innovation in Big Data: Customer Empowerment. Usage-based insurance (UBI) programs can allow people to trade in their personal data in a transparent market transaction. Companies thus have data owners that are treated based on their data, thereby increase brand satisfaction and reaping larger profits. A survey hinted that half the consumers in U.S., U.K. and Australia are alright to share personal data in exchange for product/service incentives. Drivers of automobiles can now track their driving behavior with sensors that calculate personal driving profiles that are then factored into their auto insurance. Read more at: http://techcrunch.com/2015/06/29/the-latest-big-data-innovation-is-consumer-empowerment/

The quality of big data is more important than the quantity of big data. Three types of data a company should be stressing on:
1. Social data- Marketers are now focused on estimating the number of followers of the company website, and its products now that there are ample opportunities to share the knowledge of their products in social platforms like, Facebook, LinkedIn and Pinterest.
2. On-line IDs- Data has taken marketing to a whole new level. Data can be collected and used to personalize messages and send offers through mediums most preferred by consumers. This is often done by connecting off-line data with on-line identities.
3. hard-to-find data- Enterprises produce large quantities of data everyday as a by-product of their day-to-day business transactions. Many companies, realizing the benefits of monetizing these data assets are making it available to other firms and the fact that the data has already been mined and sourced, adds value to the whole procedure.
Read more at:

http://www.business2community.com/big-data/3-big-data-types-will-increase-roi-01257959

Big data is the new buzzword. It has become one of the imperative equipment required to conquer growth across industries. Here is how you can master the art by following thee 5 rules, coined by Rishi Sikka, Advocate Healthcare.

#1 Clue lies in the past: to be able to predict future, it is necessary to dig deeper into the past data and EHRs.

#2 Diversify risk through strategic distribution of resources.

#3 Impactability- healthcare organisations should focus where and to which extent do they impact.

#4 Take population Health as a predictive exercise, not academic.

#5 Minimize costs, work to provide best healthcare.

Read more at: http://www.healthcareitnews.com/news/5-tips-becoming-big-data-superhero

Big data can also be applied in the field of humanities specially history. With advancement in text analytics, historians can now go through a huge number of historical documents and discover patterns and trends from the past. These then can be used as evidence to check if theories are correct. Research students analyzed a huge number of novels using big data analytics which allowed them to leverage insight on what the semantics implied about the society. Given the nature of historical documents, it is difficult to digitalize and apply text analytics to those. Thus data analytics is being considered by historians now. Big data when applied to history will help bring information scattered over the world thus helping historians to gain insight and predict the future. Read more at: https://channels.theinnovationenterprise.com/articles/data-looking-at-the-past

Suppose, if wearable were introduced into the workforce which could monitor about the employee wearing. How would be like?  The fact is that data collected from such wearable were used at an individual level, many might not welcome the idea as it might terminate employment for unhealthy employees. Nowadays, organizations engage employees rewarding their performances. Regular feedback helps directly for employees better perform thus affecting growth of the organization. With changing demands, if employees share their information through smart-watch, organizations should reward them empowering those employees. Though many might not like the concept but none can deny the internet of things (IoT) getting into our daily lives. Meanwhile, many organizations are already on their way to adopt this technology. Read more about this article at:  https://channels.theinnovationenterprise.com/articles/7582-getting-the-best-out-of-wearables-with-your-workforce

When it comes to the healthcare industry and its ongoing revolution, Big Data and Internet of Things have become an integral part of it. As more and more health data is now being digitally stored, the seer amount collected on patients is growing at exponential rates. Big data, already used for the mapping of the human genome, is now showing its value in the analysis of large complex data and thereafter in predictive analytics to find people most at risk of a certain illness. Predictive analytics isn't the only place where Big Data and IoT have helped in the advancement of healthcare services. There is now the possibility of analysis of data generated by IoT devices to help calculate medication tailored for each patient and also calculate their results in advance. Read more at: http://www.predictiveanalyticsworld.com/patimes/the-iot-and-big-data-are-teaming-up-to-push-healthcare-further-than-ever-0627156/

By making use of excess of data available and information and communication technologies (ICT), smart cities can now address the various economic, spatial, social and ecological problems. Although data analytics forms the core of business strategies, yet very little is known about new business models within smart cities and urban living. Recent advances in Data Analytics have shown promise than city data analysis and its use can generate value for municipalities, companies and individuals. From relatively simpler analytics techniques to more sophisticated one, the available tools can adopted to obtain the desired results. For example, when the enormous volume of the data poses serious challenge, clustering technique can make the dataset manageable. Read more:- https://icrunchdatanews.com/smart-data-analytics-smart-cities/

At a time when software is at forefront of all business activities, it is surprising to know that very few business minds truly comprehend the practice of software development and options that are available to them. Among the two most widely used methodologies-Agile and waterfall, picking up the suitable one and adoption of the same is extremely crucial for business. However the responsive and flexible nature of agile methodology is what is desired at present day businesses and for this reason agile is fast becoming the preferred approach. Continuous communication and collaboration, minimal documentation, increased efficiency are some of advantages of agile methodology. Read more:  http://www.information-age.com/technology/applications-and-development/123459702/how-being-more-agile-can-help-you-juggle-your-business-demands-more-efficiently

Internet of Things (IOT) has been evolving over time and it has moved beyond controlling networks to improve connectivity among devices, systems, people, services and things. The companies which are not manufacturers, retailers, telecoms or logistic providers have also been benefitted by IOT. Shelly Dutton (a valued contributor to business2community.com) in her article in business2community.com has mentioned the four trends about Internet of Things that we need to revise and they are as:

 1. Change is already in progress and widespread.

2. The IOT conversation addresses different things to different organizations.

3. The IOT is no longer just "cool" - it is transformative.

4. Federal governments are getting on board.

Read more at: http://www.business2community.com/tech-gadgets/these-4-things-will-change-your-outlook-on-the-internet-of-things-01259990

Gaining insight from marketing databases is proving to be a tedious task for today's marketers. A recent survey has revealed that applying the accurate solutions to analyze and interpret data is the biggest challenge being faced by businesses today. To mitigate these problems, marketers can consider using marketing data management services. With the help of these services data consistency and completeness can be achieved without putting in much manual effort. Extracting insights from marketing databases leads to improvement of clarity and insight on target buyers. Once marketers are able to identify prospective consumers, they can create content that are personalized in nature and hits the targeted consumers. Read more at: http://www.business2community.com/big-data/you-love-data-but-your-teams-not-so-hot-for-it-three-tips-to-get-them-on-board-01259909

The dynamic interaction between human and artificial intelligence, is going to revolutionize the way, people perceive their IOT (Internet of Things) environment. IoT has numerous applications in businesses, from products like intelligent refrigerator and self-driven cars, to impacting a company’s costs and earnings. Artificial intelligence can help in understanding, say the time required to service a product, the cost incurred in the process and also the substitutes of the product. This knowledge helps in reducing production cost, generates new revenue opportunities, and also aids in diversification of the company in terms of new products. Read more at: 

http://venturebeat.com/2015/06/24/the-internet-of-everything-how-iot-and-machine-learning-will-revolutionize-your-business-webinar/