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

Why customer satisfaction is important in business

Earlier, customer satisfaction was not the top priority for businesses, but customers nowadays are dependent more on digital environment and this has changed everything. Now, a discontented customer can leave a negative comment on social media or a review and that can have a direct impact on an organization’s image. That is why it is important to make business strategy surrounding customers. This article link explains what customer satisfaction is and how to measure it so that you can improve it. Read more at: https://www.business2community.com/customer-experience/how-can-you-measure-and-improve-customer-satisfaction-02410334

 

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Strategy for mobile app development

Mobile users are growing across the world and so seldom does people login from their desktop. Therefore, if you have an aggressive business strategy, then you should think of creating a mobile app and choose a mobile app service provider. But, knowing the functional steps before processing is also essential. Know about these functional steps at: 

https://www.business2community.com/mobile-apps/5-steps-for-mobile-app-development-strategy-02191303

 

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Making Data and Analytics the Backbone

Usage of technology, right tools and knowing the significance of people and organizational components is necessary for the successful functioning of data and analytics(D&A). The malfunctioning in any of these may cause the D&A initiatives to falter. A successful D&A function encompasses more than a stock of technologies and D&A should be incorporated into all key decisions across sales, marketing, supply chain and other core functions. For the effective building of D&A capabilities a clear understanding across all sectors is required. The American sports leagues being the best example where the D&A function is used the most. They used D&A to predict the various statistics during the game. Usage of D&A was a success that the league had not achieved in the past. Keys to success included a clear strategy , a commitment across the organization to seeing it through with an unwavering eye on improving the experiences for everyone involved and also to avoid allowing strategy setting and decision making to occur in organizations, which can shadow technologies, competing versions of the truth and data analysis paralysis. It should be taken into consideration that D&A function should be a key contributor to the development & execution of business strategy, the importance of leadership should be recognized and checks should be put on cultural factors. With all these factors incorporated D&A can not just achieve growth but also let business leaders to anticipate what customers will want/need before they even know they want/need.TO READ MORE GO TO: 

 https://hbr.org/2017/06/how-to-integrate-data-and-analytics-into-every-part-of-your-organization 

 

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Winning Data Strategy using Industrialized Machine Learning

 The first block to build a winning business strategy is to create a map based on business value of the question and approximating how much time would it take to get high quality answers to that question. The idea is to break the business questions into groups that corresponds to real time data systems. It allows you to focus on a specific system at once to build a strong strategy and optimize the sequence in which each sub question needs to be answered depending upon its current business value. A pattern of actions for data strategy begins with a hypothesis and collection of relevant data followed by building models to explain the data and evaluating its credibility for future predictions. The entire process is achieved on an enterprise scale digital infrastructure using Industrialized Machine Learning (IML). This approach can have a huge impact on natural resources and healthcare industries as well.

Read more at : https://blogs.csc.com/2016/07/05/how-to-build-and-execute-a-real-data-strategy/

 

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Why print medium is important in any organization

In today’s business world, digital marketing should be an important business strategy. But, it should not be limited to the online spectrum only. Businesses should consider the print medium as a part of online marketing strategy. Print and digital medium should work together to grow your business. Read more at: http://www.business2community.com/marketing/print-important-part-online-marketing-strategy-01717842#3TKoSv2DtBUQkVi1.97

 

 

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7 Testaments To Ensure Success In Innovation

Innovation is a very critical aspect to any business strategy. The ability to think “out-of-the-box”, makes any business stand out among others. While most regard innovation as a necessary stimulus to any business, but they look at innovation milestones as a fortuity in terms of strategy and shy away from further strategic planning or making any formula for success in terms of innovation. This, is however not the ideal way to deal with innovation. Given below are a list of keys to ensure business innovation.

1.       Having a dedicated innovation team: The most important ingredient to induce innovation is to ensure a team of creative, intelligent and dedicated people to be included in the business. To include them will provide the ticket to multitask, collaborate as well as read minds well ahead of time.

 

2.       Innovation Labs: This is to enhance the ecosystem of our business. With an innovation lab, a group is created that is consistently and exclusively focused on innovation.

 

To know more : http://www.business2community.com/business-innovation/7-things-must-succeed-innovation-01680313#K5sQRxXK0sCrXcW3.97

 

 

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Knowing your customer would be the best strategy

Go see, ask why, show respect. The words of Toyota chairman Fujio Cho is really increasing its importance to business. Customer reviews and input from the front-line teams who create real value through their direct dealings with products, services are helping companies to grow their business. Ivan Seselj (CEO of Promapp Solutions) writes an article about the factors we should do to grow our business. They are: Suggestion, Lessons from the DMV, Voting with Tweets & Feet, Empower Your Front-Line Staff, changing the rules, Appreciating Customers. Read more at: http://www.cmswire.com/leadership/see-the-world-through-your-customers-eyes/

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Adopting digital marketing in business

The digital landscape is changing every day. So, companies are also adopting the digital proximity market in their business strategy. According to a recent study, it was found, only 0.07% of overall marketing dollars is currently being spent on developing proximity programs and the number is expected to grow exponentially as more companies are adopting digital marketing. Read more at: http://www.socialmediatoday.com/technology-data/bryan-kramer/2015-10-06/digital-proximity-brings-us-closer

 

 

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CRM - The Future of Smart Businesses

 Customer Relationship Management (CRM) is the approach of managing a company’s interactions with customers. It involves various technologies that organize and automate marketing, customer service and technical support. Companies employ Business Intelligence (BI) tools for the same. A BI tool is useful when it has rich, in-depth data to analyze from a CRM system. It helps companies organize and manage customer data by improving tactical and strategic decision-making for company growth.

Objectives of integrating BI and CRM:-
1. Collecting and consolidating data, lowers overhead
2. Missing data is lesser as it stores data in a central location
3. Duplicate data can be detected easily.
The methodology for the above integration follows Review, Analyze, Plan, Implement, and Deploy (RAPID). Read more at: 
http://searchcrm.techtarget.com/tip/Integrating-CRM-with-business-intelligence-tools

 

 

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Featured

Tips To Enter A New Market

Every businessman wants to enter into new market for growth or better opportunities, but most of the time they won't able to succeed because of competition. An article by Samit Varma (CEO of Pizza Studio), discusses about three components which can help organization to enter into the new market:

·         Focus on consumer impact: Provide high quality, consistent product. People buy products based on their initial experience, so try to make a positive impression. Customer satisfaction is the only key for success.

·         Allow for customization: Today’s customers believe in customization, so to succeed in new market an entrepreneur need to provide customized product with quick delivery.

·         Streamline for predictability: Consistency in operations is very important for timely delivery of products. Implementing forecasting and planning can help entrepreneurs.

Read more at:   http://www.entrepreneur.com/article/245813

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Social Business Strategy

The key elements for a business to succeed are a well-articulated strategy and well-defined goals and every business activity should contribute to move the organization in the right direction and thereby achieve its strategic goals. Nowadays, firms spend a lot of time on consulting strategic planning to support sales, marketing and operations across the enterprise but, they don’t include social business activities which sustain the firm’s digital footprint. Social business activities are an automated version of a firm’s identify, thought leadership, relationship and value drivers and also means looking at social business as more than marketing campaigns. To know more about social business strategy, follow Vanessa DiMauro (CEO, Leader Networks)’s article link: http://www.socialmediatoday.com/social-business/2015-04-03/social-business-strategy-how-prevent-digital-muddle?utm_source=feedburner&utm_medium=email&utm_campaign=Social+Media+Today+%28all+posts%29

 

  

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Managing Social Media Crisis

Social media crisis is defined by Gartner a crisis that arises in or is amplified by social media, and results in negative mainstream media coverage, a change in business process, or financial loss. Brand loyalty and trust are elements that need to be built into your crisis strategy. Timely responses and communicating updates will help to keep customers satisfied. Businesses should have a good social media crisis strategy. To know more, follow: http://www.socialmediatoday.com/content/how-manage-social-media-crisis

 

 

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Social Data: An Insight

In today’s world, the Voice of Customer (VOC) and data derived from social conversations are valuable as this helps businesses to know their customer. Social data help businesses to give a complete picture about your current and prospective customers, their needs, their likes/dislikes and in turn help to build and nurture long-term meaningful relationships with customers and also helps to make business strategy. To know more, follow Ekaterina Walter (Author; International Speaker; Global Evangelist, Sprinklr)’s article link: http://www.socialmediatoday.com/content/digital-analytics-unlocking-power-social-data

 

 

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Big Data Platform in the Cloud for SMBs

Nowadays we are witnessing an enormous data explosion which is set to continue and even accelerate. The volume of data is growing at a very high velocity and is rapidly becoming more varied, complex and less structured. As a result, the word Big Data has grown strong on the mind of every business leader who wants to extract critical insights and business benefits from data. Many organizations are planning to implement Big Data related initiatives or have got them already. However most organizations lack an articulated strategy for Big Data execution. Thus there is a strategy gap between high potential and risk about investing in Big Data initiatives. Although, the essential mix of technologies may deliver on the promise of Big Data, what leaders must choose and incorporate for interlocking the set of available data sources and technology is a specific business goal which makes the initiative unique. In response, Big Data providers have prepared a strong ground through the use of cloud computing at the core which address these issues. Organizations can analyze the feasibility and cost of investing. Termed as "Big-data-as-a-service" (BDaaS), it basically refer to services that provide analysis of enormous or complex data sets, typically over the cloud platform as a managed service. The adaptation of Big Data on above grounds precedes with Hadoop which was a major stepping stone, but it still has its own limitations, specifically for Small and Medium Businesses (SMBs) that do not have the resources to create a Hadoop infrastructure in house. Thus, on a conclusive note, It's difficult to predict which Big Data solution businesses will freeze on, but having a majority of Big Data service providers now providing a version of their platform in the cloud, it will emerge a safe bet for SMBs to venture, in wherein cloud will play a major role in building Big Data an integrated part of their business strategy. Read more at:

http://www.informationweek.in/informationweek/perspective/297257/cloud-leveling-playing-field-smbs

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The new digital customer journey: Cross-channel, mobile, social, self-service, and engaged

The sheer proliferation of new online devices and digital consumer channels is pushing leading-edge companies to rethink how they connect and engage their customers. Connection between business and customers in digital channels is known as customer journey. An integrated portfolio of technologies including self-service mobile apps, customer communities and open product development can reshape today's customer journey. To know more about the change in customer journey, go through the article by Dion Hinchcliffe, expert in information technology, business strategy and next-generation enterprises.

http://www.zdnet.com/the-new-digital-customer-journey-cross-channel-mobile-social-self-service-and-engaged-7000015570/

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Social media advocacy: nurturing from inside

An article by Matthew Peneycad, advertising agency expert in social media, conveys that on social media, advocates can greatly enrich the experience of your community, contribute to the promotion and dissemination of your content, alleviate demands on your customer service team, expose key insights that can be applied to your business planning and strategy, and provide broader exposure for your organization across the social web. They can provide meaningful input, ask interesting questions and provide responses to audience members. Through their personal social listening and activity in various social networks and communities, they can expose insights that otherwise would be of great challenge to identify and substantiate.

 

 

To know more visit http://socialmediatoday.com/rgbsocial/2422351/nurturing-social-media-advocacy-inside-out  

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Outsourcing call centers to India is in demand

Outsourcing has turned up as the most competent business strategy for getting non-core business functions taken care of by experts. India has captured the position of unchallenged outsourcing hub of the world. Some of the reasons behind the increasing demand are:

1. Low cost solution

2. More profits for businesses

3. Availability of talented resources

4. Favourable government policies

 

To gather more insight on each of the reasons visit http://www.callcentersindia.com/displaynews.php?idnews=319_Why_Outsourcing_Call_Centers_To_India_Is_In_Demand

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