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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

Analysis Of The Best Marketing Data Provider

Data is collected through various paid, owned and earned media channels. Currently, B2B companies have started to emerge which is indeed a good news for marketers. Forward-looking media companies are investing to furnish superior quality prospects and performance data in order to generate new customers. They are as follows:

  1. Data as the new media and marketing currency - Media companies uses data in association to their content and customer's marketing assets.
  2. Behavioral prospect data and signal intent - It helps to figure out the best opportunities by encouraging prospects in a more targeted manner.
  3. Company content consumption data for account-based marketing - It aims to target companies that B2B marketers finds ideal for their product.

Read more at: http://www.business2community.com/big-data/your-best-marketing-data-provider-may-be-right-underneath-your-nose-01264168

 

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Consequences Of Social Media On Sports Industry

Social media has grown in recent decades and has seriously affected the social culture as well as the industries. It acts as a stimulus for success by qualifying people and encouraging new ideas. Social media has also great impacts on the sports industry. Nowadays every team, league and sports association has a profile on Twitter. The fans gather on Twitter before, during and after the games and hence a team or an athlete's behavior on social media directly affects fan's insight. Currently, a hashtag is associated with all sports show and event and this helps to build relationship with the audience. It acts as a platform for obtaining news, engaging in discussions and enfranchising brands.

To know more about this study, please follow the link: http://www.forbes.com/sites/anthonydimoro/2015/07/02/the-growing-impact-of-social-media-on-todays-sports-culture/

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Spread Of Internet Of Things (IOT) In Future

 

The Internet Of Things (IOT) ) affects the way in which the enterprises interact with their customers. With the sole motive of customer satisfaction, it is crucial to note how the future would appear for the customers and the best ways of satisfying them and they are as follows:

  • It is recommended to go for smooth transformation of customer experience and provide the customer with maximum profit. Focus groups and customer feedback helps to maintain it.
  • Usually customers take time to embrace new technology and hence provision of information would facilitate easy usage.
  • The platform is also important because a big platform can destroy a customer experience and relationship.
  • It is necessary to get initials and continuous stakeholders as they will generate speed into the project.                                                                   

Read more at: https://channels.theinnovationenterprise.com/articles/7667-planning-for-a-future-state

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Segmentation Of Big Data

Vendors intent to make big data analytics accessible because although it is relatively cheaper to work in Hadoop and NoSQL but practically it is costlier in the sense that it is hard and there is a lack of talent.  The following ways to make big data available are featured below:

  • Developers love Couchbase mobile - Couchbase mobile has acquired importance lately due to the creation of mobile apps that may work with or without internet connection.
  • Can datawatch make everyone big data expert?                                       
  •  Platfora remedies big data disillusionment - Introduction of Platfora 4.5 helps data scientists to derive big data insights in remarkable time.
  • Cubes on Hadoop?                                   
  •  Wrapping up the pieces - Companies takes maximum advantage of big data but is also apprehensive of the challenges to overcome                                                                                                                                                                                                                      For further details on this study, please follow the link: http://www.cmswire.com/big-data/big-data-bits-big-data-for-all-edition/
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Analytics Help CMOs To Innovate

Employment of analytics professionals into the marketing world goes far behind the usage of visualization techniques and data processing. Marketing enterprises are keen on hiring data and analytics professionals. It's a well-recognized fact that analytics not only help companies to take profitable decisions but also provides them with opportunities to build strong relationship with customers, increase sales volume etc.  Daniel Kehrar (VP Marketing, MarketShare) in his article on Forbes listed out the five ways in which brand marketers can innovate with analytics and they are as follows:

1. Use insights to enrich what you offer.

2. Perfect your programme.

3. Eliminate digital and channel silos.

4. Be predictive.

5. Merge brand measures with direct response.

Read more at: http://www.forbes.com/sites/forbesinsights/2015/06/29/5-ways-brand-marketers-can-innovate-with-analytics/

 

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Cloud Providers Are Facing Huge Losses

Cloud providers are striving hard to earn profits. Some are comparing this situation to the infamous dot-com bubble of the 2000s which was characterized by the growth of various internet companies despite suffering from huge losses. There are multiple reasons behind these struggles like few believe that it is the result of over emphasizing on investments in sales and marketing while others argue that cloud providers cut down prices due to constant price wars. It is always necessary for IT workers to have an exit strategy so that they can get their data out of cloud whenever the need arises. Therefore, backups of critical apps and data should be kept at secured locations as they are crucial for running businesses.

Read more at: https://channels.theinnovationenterprise.com/articles/lack-of-profits-a-troubling-sign-for-cloud-providers

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The Role Of Social Media On Customer Success

Businesses have started to realize that understanding the social media is of prime importance. However they often make the mistake of not utilizing the social media in the proper way. It is not only necessary to provide the customers with the requisite information and the various goods and services but also it is important to listen and help the customers if the need arises. So learning and understanding everything about the customer is of utmost significance. It is crucial for every business to do something which the customers are eager about so that they would be able to share their incidents through various social media channels. This however helps the organization to earn trust and cooperation of the customers.

Read more at: http://www.business2community.com/social-media/how-social-media-is-the-key-to-customer-success-01258473

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Monetization Of Data

Industries are flooded with data and this data can be used to extract a lot of money if only we knew how to use it. With the rapid advancement of technology, we have high-speed networks and improved algorithms for analytics. Various industries including healthcare and financial services are basically resting on terabytes of valuable data and information. Six best methods for monetizing data are as follows:

  1. Building up trust and neutrality among the customers.
  2. Anonymization and aggregation of data is required.
  3. To acquire permission of utilizing the data that is not owned by the company.
  4. To consider spinning out the data monetization unit.
  5. Provision of data analytics in real time.
  6. Furnishing customers with self-service capabilities.

In order to know more about data monetization, please follow the link: http://www.cio.com/article/2941291/big-data/memo-to-cios-cash-in-on-that-data.html

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Five Practices For Successful B2B Social Media Programs

Marketers are concerned about the social media programs that they undertake. It often gives the impression that they are plunging into social media but however they don't really get the desired results. The five steps which ensure that B2B social media program come apart in place are as follows:

  •  To be familiar with the buyer's behavior by investing in a social listening platform will help to keep updated with the existing media activities.
  • Creation of people's content would enable to build trust with prospects.
  • Creating and sharing the brand content actively on various social media channels to grab buyer's attention.
  • Capture prospects, customers and influencers to focus on establishment of relationships and not sales.
  • Tracking and calculating social media progress in order to know that the company is in which stage with the social media.

Read more at: http://www.cmswire.com/digital-marketing/b2b-social-media-5-practices-for-doing-it-right/

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Analytics Help Media Companies To Raise Sales

Media companies are taking advantage of advanced analytics and technology in order to increase their sales. Hence it allows advertisers to foresee what ROI they might anticipate from an investment in different channels and how this basically generates revenue. Advertisers are also interested about the exact efforts that they need to pursue to improve the results.

Daniel Kehrar (VP Marketing, MarketShare) in his article on Forbes indicated the five rationales which led media companies to move towards performance-based selling and they are as follows-                       

* Advertisers are under greater security.

* Brands are growing accustomed to analytics.

* The technology to accurately and cost-effectively predict advertiser outcomes is here.

* Advertisers want more.

* Better data and analysis brings greater credibility.

 For further details on this study, please follow the link: http://www.forbes.com/sites/forbesinsights/2015/06/25/4-ways-analytics-are-helping-media-companies-sell-outcomes-over-eyeballs/

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Usefulness Of Data In Product Designing

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 

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Reconsidering Internet of Things

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

 

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The Harmful Consequences Of Bad Data

The Great Recession was the general economic decline observed in world markets around the end of the first decade of the 21st century. The exact scale and timing of the recession is debated and varied from country to country. The most probable cause behind this recession is the use of bad data. Generally, retailers lose their revenue because of out-of-stock issues which is due to the use of incorrect and outdated data. Hence bad data is destructive. It results in losses because of dwindling customer satisfaction and incurs additional expenses in order to correct the faulty data. Big data can affect both small and large enterprises but companies can be immunized against bad data by being active and using the correct tools.

Read more at: http://www.business2community.com/big-data/bad-data-a-21st-century-business-epidemic-01252370

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Improvement Of Customer Experience Through Analytics

In modern world, analytics plays a significant role and therefore various organizations develop cohesive analytics for customer satisfaction and thereby leading to enhancement of sales. According to some retailers, customer experience drives revenue while analytics focuses on an organization's commitment in terms of value to the customers.

 Audi representative Aaron Cohen (the company's general manager of strategy and analytics) explained the process of optimizing customer experience and hence the importance of data blending. Companies are shifting their focus to freemium services, open source platforms for valuable insights. In this context, Monobina Saha (senior data engineer at Sears) highlighted the significance of R-programming among data scientists.

Read more at: http://www.cmswire.com/analytics/how-are-you-capitalizing-on-customer-analytics/

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Role Of Digital Transformation

The modern era is a digital one and it's often heard that if someone isn't digitizing his organization then he would perhaps lose his competitive edge.  The structure of an enterprise plays a crucial role in digitization. This structure and strategy ensures whether the resources are successfully assigned and also that the company is moving in the right direction. Various firms are arranged into vertical aligned business which poses severe challenges for them and hence nowadays digital transformation team arranges them horizontally to generate beneficial impact for the organization. In spite of several disadvantages, the digital business presents a new set of scopes and opportunities. It is not only cultural transformation but also a technical one. 

To know more about digital transformation, please follow the link: https://channels.theinnovationenterprise.com/articles/7501-digital-transformation-the-ftse-way

 

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Social Media Marketing Doesn't Always Work For The Companies

Social media marketing is tough and takes time to work, but it's not impossible to make it work. These days' entrepreneurs face difficulties while using the social media practices for their marketing plan. When social media doesn't work for any organization then they should try to find the solution to this problem.

Mandy Edwards (founder of ME Marketing Services, a social media marketing company located in Statesboro, Georgia) in her article in business2community.com lists out the various reasons at why the social media marketing does not work which are as follows:

  1. You're trying to do every platform.

 2. You are broadcasting sales pitches instead of building relationships.

3. You are doing too much online.

4. You're trying to do it all yourself- and run your business.

Read more at: http://www.business2community.com/social-media/4-reasons-social-media-marketing-may-not-be-working-for-your-business-01252403

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Agile Culture: An Asset For The Companies

Development of an agile culture is the key to company's success. It helps in employee engagement and faster completion of the projects. The advantages of agile methodology is that it helps to move fast and iterate, and hence this approach is preferable. Jacob Shriar (Growth Manager of Officevibe, an employee engagement platform) in his article in business2community.com, discussed about the benefits of having an agile company culture which are:

1. First-mover advantage.

2. Motivates the team.

3. Involves your customers.

  However, he further pointed out the steps for a company to be more agile and they are as follows:

  • Give Employees Autonomy.
  • Lead By Example.
  • Create Focus For Your Team.
  • Understand The Value.
  • Get Rid Of Fear.

To know more about this study, please follow the link: http://www.business2community.com/human-resources/the-advantages-of-an-agile-company-culture-01251209

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The Impact Of Digital Publishing In The Future

Facebook app has not only emerged as a news-reading function for many people these days but also various renowned publishers post articles on the social networks "News Feed" function. This has gained importance for a number of different news outlets, although most of them being negative. The modern era of digital publishing focuses on how self-publishing can evolve such that e-books are placed in front of their readers. In the next phase of digital publishing, the capability of a digital publisher to make a book more visible will be of crucial significance. In other words self-publishing plays a significant role in digital publishing.

Read more at: https://channels.theinnovationenterprise.com/articles/the-future-of-digital-publishing

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Video Analytics On Healthcare

Healthcare as an industry faces serious challenges in the context of improving patient care and safety of their staffs and patients, besides managing costs. Bryan Warren, the director of corporate security at Carolines Healthcare, said that the video surveillance and analytics had helped to increase productivity both within and outside of the security function. Video analytics helps to set checks in order to ensure that patient satisfaction remains high. In Europe, it affects audit scores and government funding. Video analytics can also be used for efficient staffing levels or better handling of the emergency procedure. Video surveillance plays a crucial role in the provision of evidence whenever a problem occurs and in traditional security.

 To know more, please follow the link: http://www.forbes.com/sites/avigilon/2015/06/11/healthcare-meeting-future-challenges-today-with-video-analytics/

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Management Of Agile Marketing Team

The concept of agile marketing is taken from software development. The goals are to improve the speed, predictability, transparency and adaptability in the marketing functions. Tim Matthews (VP of marketing @Incapsula_com and author of The Professional Marketer) in his article in business2community.com mentioned about the six lessons he learned while managing agile marketing teams at two companies. They are as follows:

1.  Set the right cadence.

2. Take a break.

3. Insist on metrics.

4. Prioritize realistically.

5. Don't allow overly aggressive goals.

 6. Set the work volume competition.

Read more at: http://www.business2community.com/marketing/six-lessons-learned-managing-agile-marketing-teams-01250732

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