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

big data influencing ski resorts

Ski resorts now-a-days are using certain frequency recognition systems, whose data is used to upgrade skier's experience, in multiple ways. For example, the system has led to the replacement of the old paper system, which unnecessarily consumed a lot of excess time. Stats collected from individual skiers are used by programs, to get an idea about the number of lift rides taken, number of days spent in the slopes, height scaled etc. Skiers can also get rewards based on their performance as directed by the data, thus leading to a gaming experience, which is attracting more and more skiers to the slopes. Big data also ensures that the ski resorts can efficiently transfer proper information to the consumers using data management. Big data not only helps the resorts in predicting weather, with the right stats, but also helps in strategizing suitable marketing techniques. Read more at:

http://channels.theinnovationenterprise.com/articles/even-ski-resorts-are-benefiting-from-the-big-data-explosion

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IoT can help in tracking operations: A Study

IoT technology is not only for retailers or e-commerce, but it can be also used by critical industries like oil and production for tracking events. Let's discuss how IoT can help these industries? Traditional method of communicating and controlling operations in large industries is SCADA (supervisory control and data acquisition). SCADA works by getting information from the central controller. But IoT sensitivity detectors can track information from both mobile devices and other communications. These devices not only send key messages directly to the sites, but also provide better and simpler communications along with sending information into headquarters. It provides lower cost and improved communications. To know more about, how IoT can help critical industries in better operation, please follow this link:  http://recode.net/2015/05/28/the-iot-and-the-needs-of-business/

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Content Marketing: A heart of Marketing Strategy

In this information era, marketing is all about information and content marketing is an important part of marketing strategy because it provides a foundation for leveraging other marketing channels. For example: social media marketing is one of the best ways to reach leads, but what will happen if you don't have a content to post in a social media account? According to Sarah Goliger (Inbound Marketer at HubSpot), content marketing is a long-term strategy. Tips to manage content marketing:

• Plan ahead
• Write evergreen content
• Promote evergreen content
• Leverage older content for new conversions

To know more about content marketing and its importance, please follow this link: http://www.business2community.com/content-marketing/how-campaign-based-content-will-kill-your-marketing-strategy-01238559

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Expectations From Economy

According to Gary Langer, president of Langer Research Associates LLC in New York "The increase in negative expectations occurred among a disparate collection of groups, indicating a generalized retrenchment". 39% population said that the U.S. economy is getting worse. The Bloomberg Economic Surprise Index touched its lowest level of expansion. The Bloomberg measure of the buying climate declined to 38.1 from 40.4 and personal finances increased to a five-week high of 56.3 from 55.7. Unemployment rate dropped to 5.4%. Read more about this article at:  http://www.bloomberg.com/news/articles/2015-05-21/consumers-expectations-for-u-s-economy-drop-most-since-2013

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Social Media And Mobile Go Hand-In-Hand

Businesses cannot ignore the impact of daily mobile use and mobile purchasing, especially given the fact that 85% of Americans surveyed said that mobile devices are important in their everyday lives. Mobile app is the perfect platform for reaching to a larger audience. The mobile-oriented services like Whats App, We Chat and Facebook Messenger are now achieving the top social media ranking spots. To know more, please read this article by OREN LEVY (CEO of Zooz) at: http://www.entrepreneur.com/article/246430 

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SWOT Anlysis: An Overview

SWOT Analysis must contain a two-dimensional look from both a product and a brand point of view. JIM JOSEPH (Contributor), writes in this article about some points which are important in any business. They are:

1. Business strength should become unique competitive advantage.
2. Challenge is the key word and focus on the factors that keep us from being competitive and identify our weakness.
3. Business house must think of various ways to expand their brand, because opportunities will be likely to impact business.
4. Business must identify the potential threats, and finally, focus on actionable items to make SWOT analysis realistic.

Read more at: http://www.entrepreneur.com/article/246434

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Risks in real estate investment

Investment in real estate plays a vital part in an investment portfolio. People tend to diversify their portfolios and real estate investment provides valuable diversification. There are certain risks associated in real estate investment. It is cash intensive, time consuming and vulnerable due to fluctuating interest rates. Investors should learn from past market scenarios and know when to make the right choices. Real estate offers direct ownership unlike other assets. Private real estate deals are popular among investors as risk of sole ownership can be avoided. Another option for investors is real estate investor trusts (REIT). REIT’s are usually publicly traded companies investing in real estate through purchasing properties. Risks include cost and tax implications and declining net asset values of REITs’ in case of rising interest rates.  To know more, please follow:

 

http://www.dailyfinance.com/2015/05/22/real-estate-investments-risks/

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Executing An Idea Properly Is An Art

An idea can also be marketable just like any product or service and if executable properly, then can also be as valuable. Skilled people who sells idea often are called earn buy-in, which helps in increasing funds. A good salesperson specifies about the product they are selling to solve customer's pains. Likewise, by knowing an idea well enough, one should establish a stronger bond between what they are selling and what audience needs through conversation. To know more read the article at: http://www.cmswire.com/cms/social-business/the-art-of-selling-an-idea-029138.php 

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digital transformation in our daily lives

A well-known tractor maker company in US, is also a front-line innovator. This company has incorporated integrated software, network connectivity and data gathering sensors into tractor hardware. It is a perfect example of digital transformation in a much needed field, but yet, least expected of such transformation, till now. Digital transformation should be the heart of every business, whose sole purpose is to improve the existing business philosophies of the firm. Read more at:

http://www.cmswire.com/customer-experience/digital-transformation-your-key-to-survival/

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preventing the genesis of black swan

In business, the 'black swan' is a form of disruption, which is usually least expected by a firm. Again, 'ugly duckling' refers to the day to day disruptions, which are always expected, and the firm remains prepared for it, hence, the coining of the term.  Companies don't pay attention to these disruptions with the expectation that they will remain small and never grow up to be as big and disruptive as the 'black swan'. Majority of the companies have risk management departments who focus on regulations and the traditional risks, completely ignoring the extreme ('black swan') cases. The 'black swan' has the capability of even surpassing the traditional data analytics procedures. Hence, comes into the picture, big data and advanced analytics, which gathers newer insights even about the most uncommon and worst case scenarios that may happen in the near future. Armed with information, much beforehand, the companies can make themselves immune, even to the worst of the situations. Predictive analytics thus plays a major role in recognizing 'black swan' events, often from the data of past 'black swan' episodes. Read more at:

http://www.teradatamagazine.com/v15n02/Features/Ugly-Duckling-or-Black-Swan/

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Managed Connectivity to the rescue


Use of cloud contact center results in low cost, increased efficiency and greater flexibility but cost centers need to consider a good cloud connectivity. Businesses generally use public internet to access cloud services which is not reliable.  Fast and secure service can be enjoyed with good cloud connectivity and customers will be loyal because complexity will be reduced with a single point of contact for all services. Read more at: 

 

 http://www.callcentertimes.com/Articles/tabid/59/ctl/NewsArticle/mid/407/CategoryID/1/NewsID/973/Default.aspx

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A New Technology: Flexible Organic Light emitting paper

A light-emitting, transparent and flexible paper has been created by Chinese researchers led by Yu-Zhong Wang and Fei Song (material scientists from Sichuan University) which glows and emits light at room temperature. This paper can be used for phones and tablets to make them lighter and eco-friendly. This material can bring a new thinking on future electronic displays and 3D printing papers.?Read more at:http://www.digitaljournal.com/technology/researchers-develop-light-emitting-paper-for-flexible-displays/article/433850

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Contact center analytics: A Study

Companies are recognizing the need of contact center analytics to gain more consumer awareness but problems like cost of hiring new staff and procurement of new equipment are holding back contact centers from investing in analytics. Other factors like funding and prioritization are to be blamed as contact centers are now seen as cost centers but terms like customer experience and customer journey are gaining exposure. Read more at:

 http://searchcrm.techtarget.com/news/4500246053/Contact-center-analytics-still-an-uncharted-frontier

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Big data merging all industries

The pursuit of data and analytics is helping companies to venture into new fields, transcending the fine lines between different industries. For example, a well-known sports company has ventured into the market of wearable technology, with the release of its fitness tracker, containing sensors, which automatically collects data regarding one's sleep patterns and the number of steps taken in a day.  Consumers must first download the fitness tracker app in their laptops or mobile devices. So, indirectly the company is also involved in the software business. Since the objective involves collection and analysis of data, to get customer feedback, the company is also involved in the analytics business. Cable and satellite suppliers are also using analytic tools to get deeper insights into viewing trends and ideas about more profitable programming opportunities. Read more at:

http://blogs.teradata.com/bill-franks/big-data-blurring-industry-lines-nike/

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The music in analytics

More and more music companies are turning to data analytics as people are increasingly listening to music online. Social media is providing newer ways to reveal the variety of factors affecting the different artists' sales. Music analytics companies now have access to information regarding the frequency, a song is heard, when it's heard and by whom, which help them in forecasting future hit records. Musicmetric, a music analytics platform, also focuses on gathering customer opinion from social networking sites to gain information regarding different artists' popularity for understanding the best platforms to market them. Even data related to ticket sales to live concerts can help in planning tours. To know more about music analytics, follow:

http://channels.theinnovationenterprise.com/articles/how-is-analytics-changing-the-music-industry

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Workforce Management: A tool to manage employees in contact center

77% of the contact center's cost is associated with employees. Therefore, managing them effectively is the most important task. Workforce management is the process of getting the "just right" number of staff in place every hour to maximize service and minimize cost and it's one of the most important planning and management functions in the call center. It also helps in controlling wait time effectively. We can create schedules while tracking Real-Time Adherence and monitor intra-day change to provide a consistent and superior level of customer service. Tips to enhance the productivity of contact center agents are:

• Use blending approach if you have inbound and outbound operations.
• Provide full access of schedule to staff members.
• Use workforce management software for planning.
• Use automated workforce management to find the skill gap.
• Use adherence to manage contact center agents.
To know more tips and how to use them, please follow this link: http://www.itweb.co.za/index.php?option=com_content&view=article&id=143454

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Using analytics to transform organization learning

60% of CLOs are dissatisfied with their internal learning analytics capabilities. Most of the CLO are dissatisfied with their traditional organizational approach Kirkpatrick to evaluate learning. They want an analytical enhanced approach in learning. Modern analytical enhanced approach measure overall management and development of a company's employees. Laurie Bassi (CEO of McBassi & Company) and Dan McMurrer (Chief analyst of McBassi & company), talks about how to transform an organization's learning analytics:

1) Create an “authentic” learning impact evaluation by embedding it in a more holistic framework.
2) Stop waiting for the perfect data warehouse. Instead, create a “data hut.”
3) Don’t let the perfect become the enemy of the good.
4) Choose your initial analytics project carefully.
5) Start under the radar.
6) Insightful reporting trumps data dumps.
7) Use learning evaluation to improve the effectiveness of learning.
Read more at: https://www.td.org/Publications/Blogs/Learning-Executive-Blog/2015/05/7-Steps-to-Using-Analytics-to-Improve-the-Evaluation-of-Learning

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Marketing automation in the age of mobiles

In an age, where a large proportion of email opens are done via mobile devices, marketers should consider responsive design, which allows them to control the email display, according to the size of the viewer's screen, adding flexibility to the content display of the mail. Email marketing solution providers are there to help. Pre-send testing is important, which makes sure that the messages look as good as desired across all devices ranging from tablets, mobile phones and desktops. To know more, please follow the article by Akin Arikan (Contributing Author) at:http://www.cmswire.com/cms/digital-marketing/the-age-of-mobile-moves-from-static-to-dynamic-029255.php

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Business Depends On Its Customers: An Insight

According to the 5th annual Sensis Social Media Report, the percentage of small businesses with social media accounts has declined from 37% in 2014 to 31% in 2015. 68% of the broader population use social media sites, 61% of small businesses don't know how much they spend on social media each year, with just 17% actively measuring return on investment. 57% of small businesses don't know whether they've recovered their investment in social media. 70% of consumers' access social media from a smartphone, 52% use a laptop, 34% use a tablet and 28% rely on desktop computer. To know more, please read this interesting article by ANDREW SADAUSKAS (tech-company editor) at: http://www.smartcompany.com.au/technology/social-media/46997-small-businesses-flying-blind-on-social-media-and-some-are-walking-away-report.html 

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Healthcare Big Data Analytics: An Insight

Big data analytics is the joining of two or more sources of information, so that it can be comprehended from the comparison of the new, expanded data set. Success with healthcare big data analytics relies on vendors, team of experts, and people who understands health management. Collecting and leveraging patient-generated health data from IoT devices will be the key in health care analytics. To know more how IoT helps in healthcare big data analytics, read this interesting article by Jennifer Bresnick (author) at: http://healthitanalytics.com/news/why-healthcare-big-data-analytics-needs-the-internet-of-things 

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