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

The Progressing Steps of India

The Progressing Steps of India

The motive of capital good policy is noble, but not its implementation. The policy fails to address the basic problem of lack of research to improve manufacturing units. Thus the policy fails to expand the share of manufacturing in GDP. As India is rapidly globalizing, it needs to improve its manufacturing process using better machinery, newer intelligence and better quality raw materials. Automated assembly lines and lean production techniques must be put in use. Similarly, artificial intelligence and bid-data analytics will help the Indian companies improve their productivity and increase profits. India should gear up for advanced manufacturing in areas such as aircraft manufacture, materials, microelectronics and telecommunications. Most importantly, India needs to develop a knowledge ecosystem that includes a good intellectual property regime to foster innovation and creativity. Read more at: http://blogs.economictimes.indiatimes.com/et-editorials/capital-goods-policy-contains-little-meat/

 

Rate this blog entry:
4493 Hits
0 Comments

The Complicated Task of Big Data Handling!

Today companies are gathering more and more data but are not certain of what to do with this data. For the last five years, companies are getting in to the big data practices in order to get competitive advantage. Big data is basically using analytical software to visualize unstructured data (data available to the public) and structured data (companies propriety information) .This visualization does wonders, it gives predictive sales figures, future prospective of the company and sales target .Gathering information is getting simpler with the emerging software & IoT; but sorting and filtering the huge pile of data is a complicated process.

According to a new report, an analyst spends about 50-90% of their time in just cleaning and filtering the raw data. Companies can solve this problem by improving the data software where data can have lower level of risk for data scientist and algorithms can help in data cleaning.

To know more: http://www.zdnet.com/article/big-datas-biggest-problem-its-too-hard-to-get-the-data-in/

Rate this blog entry:
1763 Hits
0 Comments

Analytics revolutionizing National security

Big data have existed since the time of the cave man existed in physical paper and other analog forms (stone, papyrus, tape) and was largely inaccessible. With the inception of Commercial Internet & new forms of commerce and social media, we can access information of "open source". Now technology can connect streaming and near real-time data to generate information very fast. Dynamic machine-learning algorithms can also help to discover hidden patterns and associations and graph databases has the ability to query and explore entities and their relationships in order to understand how opponent operates. It was also found that tools for geospatial analysis can help analysts to understand how events and groupings are related in space and time. To know more, please read the article by Mark Testoni (Writer at Homeland security today.us) -: http://www.hstoday.us/columns/critical-issues-in-national-cybersecurity/blog/big-data-analytics-from-forensics-to-foresight/d0c045fe32568eedefda4195d46472e6.html

 

Rate this blog entry:
1363 Hits
0 Comments

Big Data Analytic & Supply Chain Management 

This paper gives us a holistic understanding of two main topics – big data analytic & supply chain management. In this highly competitive world, every organization is looking forward to a competitive advantage in the form either cost effectiveness or better utilization of resources. To achieve this goal organizations are using a data driven supply chain to integrate the entire processes. This enables organization to stream line supply chain while mitigating the risk in an uncertain business environment. Big data analytic also helps an organization to extract important trends & information that can be used to make the systems more efficient & robust.

To read the full article click:- http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2755828

    

Rate this blog entry:
1880 Hits
0 Comments

Grow your analytics to grow business over online market

Grow your analytics to grow business over online market

Retailers and most of the brick and mortar shops store their customer's data to understand their buying and transaction behavior. Some obscure data point that may help them become more knowledgeable about their customers. However, hidden from these in-store shopper analytics are all of the transactions their customers make outside their stores with competitors. In recent past, there are many switching of preference to online one. But this up growing online marketing basically picking the flaws of customers' real time analysis in case of brick and mortar shops. So it's high time to either integrate or dig into flawless marketing analytics.

To read, follow: http://www.forbes.com/sites/forbesinsights/2016/04/27/the-hidden-danger-in-brick-and-mortar-customer-files-amazon-prime-members/#69beabd83681

 

Rate this blog entry:
1949 Hits
0 Comments

One click away to understand big data analytics

One click away to understand big data analytics

Big data analytics is becoming self-explanatory day by day to even a lame person who has lesser knowledge in statistics, analytics and data science. It is a positive sign with respect to current business purpose because we need real time analysis and that can be only possible if data interpretation and visualization becomes more feasible. There are different software like R, SAS and many other online service providers like google analytics, Piwik helps to create better data visualization and interpretation of customer and business data. Even our very own Microsoft excel has some in built data interpretation and visualization programs. But one program, called Quill, takes the trend a step further, producing text-based reports that explain the data clearly and concisely.  Think of it as an executive summary created by a computer to explain a set of data at the click of a button. So it’s time for personalize big data analytics.

to read, follow: http://www.forbes.com/sites/bernardmarr/2016/04/27/will-we-soon-no-longer-need-data-scientists/#540a99bf55f3

 

Rate this blog entry:
1408 Hits
0 Comments

Mars mission and big data analytics.

Mars mission and big data analytics.

NASA is working on big data analytics to facilitate their mission mars more productive and informative. They are using big data analytics to understand the environment of the mars. That is they are using modern technology to collect and analyze environmental data and based on that it will give a predefined signal to the Curiosity rover currently operating in Mars. These data points help to generate a more specific road map for upcoming 2020 mars mission for NASA. One of The expert in NASA JPL laboratory says these huge analytic modelling defines an easier way to resolve the problem. 

To read, follow: http://www.forbes.com/sites/bernardmarr/2016/04/14/amazing-big-data-at-nasa-real-time-analytics-150-million-miles-from-earth/#1cbda1b371dd

 

 

Rate this blog entry:
1616 Hits
0 Comments

Big Data is Changing the Industry Scenario

In order to make management decisions, all companies in various industries work on large transactional data. For example: healthcare, retail, pharmaceuticals and so on. Some of the benefits big date provides:-

1. Big data analytic makes operations more efficient and frequent.

2. It appreciates the quality of services by analyzing the whole data and not just sample subset. As a result, the companies make more precise decisions.

3. Marketers target the right customers using big data. Through focusing on data based strategies

4. It gives an opportunity to new companies because they can analyze the existing industry data.

5. It also gives a competitive edge to those companies who use it decision making.

To read more: http://timesofindia.indiatimes.com/tech/it-services/How-Big-Data-is-changing-the-way-we-do-business/articleshow/50417589.cms

 

Rate this blog entry:
1767 Hits
0 Comments

New trends in job posting

A recent study by MIT University shows that there is a 78% increase over the past three years in the job posting related to analytics and this led universities to launch specialized program in Master in Business Analytics. Nowadays, data analytics are used in marketing, finance, health care, logistics, insurance ecommerce, manufacturing and government services. To know more, please read the article by Michael Norton (Writer at lowellsun.com)-: http://www.lowellsun.com/business/ci_29635724/mit-reports-spike-analytics-job-postings

 

Rate this blog entry:
1437 Hits
0 Comments

Big Data analytics changing the aviation Industry

Big Data analytics changing the aviation Industry

In the aviation industry, aircraft maintenance and safety is always on high priority. With the increase in air traffic and air passengers, aircraft maintenance and repair firms are utilizing predictive analytics integrated with the Internet of Things (IoT) to predict component failures and pilot stress level. Firms are developing a solution that can predict the likelihood of a component failure which can help to replace the part before it fails. In future, by analyzing breathing patterns of pilots before they board the flight, will help to monitor the stress level. To know more, please read the article by Jonathan Ananda (Writer at The New Indian Express) -: http://www.newindianexpress.com/business/news/Data-Analytics-to-Make-Flying-Safe-for-Pilots-and-Passengers/2016/03/16/article3329532.ece

I
mage Source - : https://pixabay.com/en/oldtimer-aircraft-take-off-aviation-1010805/

 

 

Rate this blog entry:
1672 Hits
0 Comments

Business’s booming after investing in big data analytics

Business’s booming after investing in big data analytics

Big data analytics are helping organizations connect their data and use it to identify new opportunities. Big data analytics examines large amounts of data to uncover hidden patterns, correlations and other insights. Here are some sectors where big data are making an impressive impact-: 

# 1. Healthcare 

Big Data Analytics in the healthcare sector helps patients and the healthcare ecosystem to be aware of the appropriate treatments and measures to be taken.

#2. Retail

In the retail sector, analytic solution offers insights to understand and respond to changing customer experience.

#3. Banking

The financial sector has to deal with vast volumes of data. This sector poses higher vulnerabilities to fraud and financial crimes.

#4. Manufacturing

In manufacturing, operations managers can use advanced analytics to dig historical data to study and improve production.

To know more, please read the article by Arya MM (Writer at infotechlead) -: http://www.infotechlead.com/big-data-2/biz-booms-investment-big-data-analytics-38700

 

Rate this blog entry:
1772 Hits
0 Comments

Chemical industry’s success lies on chemiformatics

Chemical industry deals with lots of data sets. Some of these data are relevant to product development and the rest of them mostly helps to identify external parameters governing the production process. Generally, big data help to facilitate cost cutting issues. It brings a new product to the market and improves industry environment. Intellectual sensors are integrated with the research and material related informatics. This process minimizes the time required for new innovation. Sensitive sensors can also help to predict the upcoming situation by measuring current situations. Big data works in the back end. This ensures worker's safety by analyzing the toxic level, heart rate, etc. Intelligent sensors diagnose the past chemical data and all possible combinations to predict the new combination. It smoothens the R&D process. Therefore, automation, safety guide and intelligent forecasting are the key mantra for success in the chemical industry.

 To read, follow:  https://www.environmentalleader.com/2016/02/23/how-big-data-is-changing-chemical-manufacturing/ 

Rate this blog entry:
3004 Hits
0 Comments

In depth customer behavior analysis using big data and social trend

Big data analytics can analyze the past behavioral data of humans. It is highly correlated to future outcomes.  The most important task is to understand how much emotional extent can be predicted accurately. By analyzing critical reasoning and judgmental decision, there will be higher chances to predict more efficient human behavior. Social media plays an important part by providing more sensitive data having higher emotional quotient. Search dynamics also help to predict future trends. Therefore, combining big data, transaction data and social data along with shopping behavioral data opens a new horizon which enables marketers to influence human behaviors and perceptions. To read, follow: : http://www.forbes.com/sites/forbesinsights/2016/02/02/has-big-data-taken-the-human-out-of-human-behavior/#2280493b170c 

Rate this blog entry:
1830 Hits
0 Comments

Implementation of Big data analytics to increase efficiency in supply chain management

Big data analytics plays an important role in supply chain management. 97% of supply chain executives have reported how big data analytics helped them to grow their business and only 17% of any particular industry have implemented this process. This process generates higher visibility and deeper insight to the customer behaviour and demand supply scenario. It also helps to discover and manage supplier relationships more effectively. Big data help to understand customer needs and make a 360 degree analysis regarding marketing channel, segmentation and acceptability. Predictability helps to create more efficient supply chain progress (increased ~10%). It identifies supply chain risk by considering the previous demand, supply scenario almost accurately. Supply Chain Traceability and recalls are data-intensive and highly correlated to supply chain risk. The ability to quickly meet customer fulfilment is an important driver. It helps in competitive advantage across all industries which can be achieved by big data analysis.

To read, follow: http://www.computerworld.com/article/3035144/data-center/overcoming-5-major-supply-chain-challenges-with-big-data-analytics.html

 

 

Rate this blog entry:
1586 Hits
0 Comments

Big Data In Hospitality Industry

The use of analytics can bring major change in the hospitality sector. It is important for hoteliers to understand the preference of the guests, purchase behavior and profitability in order to increase the brand loyalty. By using analytics, it is easier to do segmentation according to booking trends, behavior and other constituents. To know more about the use of analytics in the hospitality sector, read the following article by Bernard Marr (Contributor at Forbes)-:

http://www.forbes.com/sites/bernardmarr/2016/01/26/how-big-data-and-analytics-changing-hotels-and-the-hospitality-industry/2/#7135d10f19b6

 

 

Rate this blog entry:
1803 Hits
0 Comments

Identifying Cyber security and manage cyber alerts using Predictive Analytics

A cyber - attack may happen anytime in today's world. Big data and predictive analytics help in cyber defense and convert data into actionable intelligence. Predictive indicators can identify new risks and assist in security. They can go undetected. Predictive analytics can detect these unusual data, including hidden data. By finding these unusual patterns, predictive analytics help to reduce a company's overall risk. With predictive analytics, risks are evaluated and ranked in importance. Managing the predictive analytics process requires an organization to handle the false positives and false negatives that are generated during the threat surveillance process and it cannot be too restrictive as it will block logical traffic, which can lead to a reduction in profit or customer service. It depends on how a person is using it to get the best results. Read more at:

http://www.information-management.com/news/big-data-analytics/using-predictive-analytics-to-identify-cyber-security-risks-10028270-1.html

Rate this blog entry:
1409 Hits
0 Comments

Forcasting future investment corelates big data analysis

Investment in shares requires analysis of huge historical data. Analysis is the primary phase and it forecasts the future investment process. Broking house plays a clinical role in this context and charges a percentage of hike in shares. But these days such information is frequently available in different websites and are updated on a regular basis. The usage of technology for predictive analysis is hugely correlated with big data. These are limited to institutional buyers. The automation in predictive analysis requires a huge precision which is cost effective, but its implementation could be a game changer.

 

To read, follow: http://www.thehindubusinessline.com/markets/stock-markets/big-data-robo-analytics-to-drive-next-phase-of-growth/article8249330.ece

 

Rate this blog entry:
1510 Hits
0 Comments

Color innovation in big data analytics

Any decision pertaining to designing products, environments and brand experience is closely connected to the use of colour because it depends on the buying behaviour of customers, brand perception, strategic differentiation, and user experience. But availability of information related to colour perception is limited. Organizations are using big data to analyse colour preference and perception which contains over a 100 years of data. They divided their study into four categories regarding colour data, analytic and insight:

1. Colour competitive intelligence is relevant for aggressive in brand competition.

2. Colour legal intelligence helps to identify the colour norms available to different countries.

3. Colour Research Intelligence collates colour studies that have been conducted over the past century, world-wide, about the industry and product segments.

4. Colour listening intelligence signifies how much buzz about a particular colour is popular in the market.

These all studies benefit other companies by creating their own colour mix to attract new customers, branding and dictate consumer preference trends.

 

To read, follow: http://www.forbes.com/sites/michellegreenwald/2016/02/17/a-new-comprehensive-4-in-1-big-data-resource-to-aid-color-innovation/#6e729df04012

 

 

Rate this blog entry:
1638 Hits
0 Comments

Transforming Medical Information Through Big Data

Doctor or healthcare professionals treat us according to recent scientific arrangement. EBM (Evidence Based Medicine) is the orthodox standard for the provision of healthcare. But, in the era of big data, it is about to change. Clinical trials work compares the new treatment to other treatments by separating random patients into different groups. There is a risk of methodological flaws and the small populations used. By mining the practice-based clinical data, i.e. actual patient records for information on who has what condition and what treatments are turning for better treatment of the individual. Almost 80% of medical information about patients forms of unstructured data. For better care of individuals and to understand about the health of the population, we need to be able to mine unstructured data. So before analyzing any data, the first thing is to extract the data from these diverse sources. Then turn that information into something that computers can break down. The data can then be dissected at an individual level to create a patient data model. Data theft can be scaled down by encrypting patient data. Read more about it in the article written by Bernard Marr (contributor) :  http://www.forbes.com/sites/bernardmarr/2016/02/16/how-big-data-is-transforming-medicine/#28d063381cd4

Rate this blog entry:
1872 Hits
0 Comments

Benefits Of Big Data Analytics

Big Data analytics is coming up in a big way. According to Forrester Research, companies estimate that they are analyzing only 12% of the data at their disposal. The demand for predictive analysis combined with the small number of data scientists explains why 88% of the data captured by businesses fail to produce actionable insights. So, automation in Big-Data Analysis comes to the rescue. Benefits of Big Data Analysis are - Automation supports existing staff, Automation reduces the need for additional staff and extensive training, Automation saves time and money. Read more at:  http://it.toolbox.com/blogs/byod-cloud/the-benefits-of-automating-big-data-analysis-70335

 

 

Rate this blog entry:
2179 Hits
0 Comments
Sign up for our newsletter

Follow us