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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

MBA student, SBPPSE, Ambedkar University Delhi. Intersted in BFSI, Analytics and Social Media Analytics. Interning with GoSigmaWay

What Banks Need to Think Upon?

Over the past decades, risk management has been transformed in the banking sector after the emergence of global financial crisis. Still we can’t draw a blue print about the risk function. Since customers' experience has become more and more important, banks need to offer real time response to customers and their problems. Similarly, after evolution in technology, it has become important to look upon new risk management techniques. By 2025, manual interventions will be minimizing, hence, there is need to digitalize core processes. Also, more automation and digitalization leads more experimentation with machine learning and advanced analytics.

Better risk reporting requires to adjust with market development and broaden regulations. Different regulatory ratios require to collaborate with balance sheet optimization. With this, high performance data is the urge for high risk performing function. Build a right mix of talent and embed a right culture. To read more, click on the following link: http://www.mckinsey.com/business-functions/risk/our-insights/the-future-of-bank-risk-management

 

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Analytics: Marketers' Magic Tool

Google’s procedure valued interconnectedness. If broadly speaking it says that more links you have on your page, the more relevance that page actually has in search results. Google treated these links as proxies to maintain legitimacy. It shows the consensus about best search results. But customers don’t concern for it, they care about pages which have their past search and the internet browsing histories, and which is addressing our actual concern. We can see that the substance and quality varies across the platform. Which results, Marketers face problems and not able to get relevant data about their customers. Here, analytics work well, analytics solutions act like search engine. It distinguishes Buzz and Noises out of datasheet which actually affects your business. Marketers need to pay attention on these methodologies. They need to think whether the loudest online voices are most important? 

Read more: http://www.cmswire.com/digital-marketing/searching-for-a-marketing-analytics-solution-check-your-google-history/

 

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Artificial Intelligence: GPU in new trend

The rise in trend with mobile computing software like smartphones, the demand for PC was being declined for several years. PCs have become boring and market was get stagnated.  Then, GPUs (Graphic Processing Units) has become more interesting as they are the key enablers for the performance of PCs as it improves the graphic performance of games and coming up with various new design in the context of video and images. The industry was working to expand the use of GPUs as a computing accelerator. NVIDIA worked as pioneer in GPU computing market with its CUDA platform. Now, NVIDIA has introduced Tesla P100 platform. This is the first GPU designed for hyperscale datacenter application. It features over 15 billion transistors, combines 16Gb of die stacked 2nd generation High-Bandwidth memory (HBM2). It also has NVIDIA’s NVlink Interface technology to connect to multiple Tesla P100 GPU modules. This is the example how AI (Artificial Intelligence) is evolving and playing crucial roles. To know more, read this: http://www.forbes.com/sites/tiriasresearch/2016/04/05/nvidia-reinvents-the-gpu-for-artificial-intelligence-ai/#44fc297315b7

 

 

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What is really important: Trust flow, Toolbar PageRank or Good Keywords

Change is the only constant. If we talk about SEO (Search Engine Optimization), there have been a lot of changes as well. PageRank is now dead. Google is not going to update Toolbar PageRank, but the important point is the usage of good keywords and trust flow. Created by Majestic SEO, trust flow determines the quality of the site based on its links with other sites. For Google, it is very important to have great content and quality links. But currently, it is more focused on providing high quality linking and topical rankings. Topical ranking appeals to value- based search system. To summarize, trust flow has following characteristics: Page Rank may be dead, but keywords live on, Quality is more important than quantity, Trust flow needs to be measured. Read more: https://www.entrepreneur.com/article/269574

 

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Successful Business with Good Customer Experience

The most dynamic aspect in market is Customer. It is important for businesses to focus on customer experience. For this, not only offline experience works but digital experience is also equally important. To retain your customer and to build the brand, businesses need to think strategically:

 

  • ·         No need to worry about price, since 56% of customers pay more to get better customer services, and are willing to pay upto 30%.
  • ·          Make your website more informative and easy to access. Website is more a communication channel and not only a showroom.
  • ·         Social media is ruled by customers, not marketers. Marketers need to connect with customers through social media not only for promotion but to get feedback, to get back to them as earlier as possible.
  • ·         Personalization is everything. Give more personalized experience to your prospects and customers.

 

 We can say that marketer need to give a perfect mix, either it is offline or online experience for the customers. To know more go through the given link: http://www.cmswire.com/customer-experience/create-memorable-customer-experiences-with-these-strategies/

 

 

 

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Shift Left: The Right Key to Agile DevOps

Shift left is the practice of improving quality at an earlier stage (day to day basis) by identifying the defects and fixing them whenever they arise. It helps in running the application and system 25% faster, it also improves customer satisfaction with lower labor cost and higher production. Beginning quality assurance activities at earlier stage ensures improved estimation and planning, a proper test data and technical environment, test case properly design, test automation assets in place. It also has efficiency advantages. Business benefits by shift left are: lower cost, quicker deployment and delivery for the businesses, higher business process quality and glitches free execution, and the most important satisfies business partners. Teams that use it, step up their project planning and execution capabilities. To know more, read the article by Mark Summers at www.cio.com

link: http://www.cio.com/article/3050579/leadership-management/want-agile-devops-shift-left.html

 

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Risk Management & Risk Elimination in Banking Sector

According to a survey by KPMG, it has been seen that the bank board has played a very effective role in risk management for banking sector. Bank Board Bureau is formed to tackle the increasing bad loans and for the appointment of the directors of public sector bank. The majority of established banks have not shown more than single digit organic growth, but on the other hand it has also been seen that the banks, who had used analytics/models in effective manner, have shown a higher rate in growth. This is true that “model risk cannot be eliminated, but mitigated by good management. If the banks are using robust validation and expert modelling, it cannot necessary eliminate model risk”. Read More: http://economictimes.indiatimes.com/industry/banking/finance/banks-board-can-be-effective-in-risk-management-kpmg-survey/articleshow/51684852.cms
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Banking Sector and the Role of UPI

After the spread of internet, banking and mobile wallets have done wonders for India’s digital payment system. Now, it's the time of UPI (Unified Payment Interface). As banks are still left behind in payment space as compared to the wallets of financial technology companies, now they are coming up for tie ups with UPI of NPCI (National Payment Corporation of India), so there might be an increase in payment system by the banks also. RBI and NPCI have excluded wallet providers from this because of the security reasons. It is also possible that after getting approval for this pilot project, wallet providers would be allowed to go for it. But yes, at the end, the success of UPI again depends upon how many players are using it. To know more go through the given link: http://articles.economictimes.indiatimes.com/2016-04-13/news/72295046_1_upi-npci-wallets

 

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