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

As a Six Sigma exponent who is an IT engineer with a MBA in services and certifications in risk management (FRM,GARP), project management (PMP,PMI-USA) and process improvement (Master Black Belt and Black Belt certifications from ASQ-USA) , I can leverage my cross functional expertise and exposure to multiple domains to provide innovative solutions to my clients.

Currently I work as a Director at SigmaWay LLC , a boutique solutions provider in the Process Consulting, Analytics ,Market Intelligence, Training and niche IT Services with offices in US and India.

Easy ways to make your workspace more happening

Workspace innovation can be a change in the organization physical or mental which can boost employee's productivity, efficiency and creativity. It's not a new idea, but many companies don't follow it. But startups have been able to successfully implement this. With a proper HR team who have the right mindset and creativity, customization of the workspace can be achieved economically. Three simple changes that firms can try are: Let your employees pick their job titles; Create a play /activity/relaxation room; Switch to adjustable furniture from traditional one. Read the full article here: https://www.td.org/Publications/Blogs/Human-Capital-Blog/2016/02/3-Easy-Ways-to-Innovate-Your-Workspace

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A New Trend in the field of Analytics

Nowadays, manufacturers are using technology to monitor parts and operations in order to reduce expenses which includes analytics. The result is, a continuous streaming analytics engine that provides automated alerts on the forecasted failures identified by the predictive models. From here, companies can schedule planned maintenance with a high confidence level. Predictive monitoring is particularly suited for critical machinery which is complicated to maintain in terms of labor costs, or machinery with components that are expensive or difficult to obtain quickly. Spare parts and components can be reduced because needs are predicted weeks to months in advance. Read more at :http://www.designnews.com/author.asp?section_id=1386&doc_id=279921

 

 

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Why organizations should use social media for storytelling

Storytelling is one of the most powerful ways to breathe spirit into your brand. Social media gives meaning and definition to any ordinary piece of information and makes it attractive and absorbing. Advertiser and marketers have utilized it as a powerful tool to convince audiences by merging their ideas with emotion, which has proved to be highly instrumental in appealing the imagination of the customer. The rise of social media offers an unprecedented platform for brands to tell their tale. To know more, please read the article by Kay Fabella (Brand storyteller and Marketing Consultant for small business owners) -: http://thoughtreach.com/how-to-tell-your-brand-story-on-social-media/

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Tips for keeping your business on social media

Social media is one of the effective ways for business to build their brands and to influence people to purchase goods and services. While most executives understand the benefit of social media, they don't realize the magnitude of the risk it creates. Here are some security tips for use of social media and general online for employees:-
1. Avoid employment disclosure.
2. Teach employees to manage their privacy settings.
3. Implement a workplace social media policy.
4. Don’t ban social media use in office.
5. Train the IT specialist.
To know more, please read the article by Robert Siciliano (CEO of ID TheftSecurity.com)-: http://www.entrepreneur.com/article/241889

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Retail Industry and Analytics

Retailers need to connect, track and collect data from assets and customer shopping patterns. Business intelligence tools have become must-have resources. Now firms became more proficient in modern analytics management, including the front-end requirements for data preparation. The retail industry has not incorporated analytics on a large-scale, and many of the entities have deployed the technology are still in the early stages of use. The starting point for retailers is market basket analysis, which is heavily dependent on third-party data. Retailers are also reported-dependent than other industries. By first getting data preparation and initial archival-related strategies right, retailers can better position themselves for long-term success with their analytics investments. For more read the article written by Jon Pilkington (Chief Product Officer, Datawatch Corp.) at :

http://risnews.edgl.com/retail-news/Retail%E2%80%99s-Latest-Ventures-are-Rooted-in-Analytics104638

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Does social media really bring us to the reality?

Social media platforms are influential sources which are employed by government, corporate, and academics to study human society. Social media has played an important part in getting us closer to the "real" during a conflict. It can also take us further away by constantly viewing conflicts on a buzz feed list or Instagram post which seems to be unreal. To know more, please read the article by Ellie Mae O’Hagan : http://gulfnews.com/opinion/thinkers/does-social-media-really-bring-us-closer-to-the-reality-of-conflict-1.1303773 

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Solutions to merchandising and marketing problems through Analytics

Analytics help retailers move to a unified commerce experience and allow for more targeted, cost-effective marketing. Advanced analytics is used for the optimization of merchandise planning. Real-time analytics is integrated with customer and product information across all channels. Retailers have the ability to use science and algorithms to optimize pricing strategies to reduce markdowns, improve demand forecasting to optimize inventory, localize assortments and optimize space planning. Advances in software and the occurrence of cloud-based solutions enable retailers to think about accelerating their upgrade/replacement cycles. It will help limit overstocking and discounting. With real-time analytics, retailers can market to consumers on a 1:1 basis based on customer context. Retailers have the ability to know what customers have in their closet, purchase behavior and preferences. For more, read the article written by Forrest Cardamenis : 

http://www.luxurydaily.com/analytics-offer-solutions-to-merchandising-and-marketing-problems-brp/

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Technology Changing Journalism

We are moving towards a future in which technology will change journalism. Over the last couple decades, media sales and marketing have been on a journal to find effective ways to monetize digital media. Technology engaged journalists in the preparation of visual or audio material intended for dissemination through public media. It includes genres such as news, reports, analysis about a variety of topics including communication technologies, social media, internet, scientific research, robotics and policy regarding the digital world.
To know more, please read the article by Tom Regan(Blogger foe NPR): http://niemanreports.org/articles/technology-is-changing-journalism/

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Predictive Analytics and Micro targeting : The Game-Changer for Marketers

Predictive analytics and statistical analysis are based on the concept of relationships between observed and future actions. When analyzing people, we observe a small sample of data on people and build a predictive model to identify a number of shared traits they have. Micro-targeting is the idea of finding relationships among variables to recognize the target audience's shared traits. It helps to identify the right people. The steps included to predict purchase behavior and design a campaign to expand customer base are: 1. Create dataset. 

2.  Once we have a dataset loaded, we will analyze the people who have purchased the cloud solution and find what they have in common with one another. 

3.  To do this, our first step is to create a dependent variable. 

4. Then, we build a predictive model which takes that variable containing cloud purchase information, and compares it to other variables in our data set. 

5.  The regression model we build then compare our cloud purchase variable to whichever other variables used for analysis, and then gives us statistical correlations for each variable. 

6. Initiating the cloud solution licensing, then identify more people who fit this demographic.

For more read the full article at:

http://www.econtentmag.com/Articles/Column/Marketing-Master-Class/Why-Predictive-Analytics-and-Microtargeting-is-a-Game-Changer-for-Marketers-109377.htm

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All About Network Security

Network security consists of the policies adopted to prevent and monitor unauthorized access, misuse, alteration of computer network and network resources available. It also requires the authorization to access data in a network that is controlled by administrators. Users' needs to choose or assigned an Id and password and other information that allow them to access information and programs within their authority. Network security covers public and private computer networks, which are utilized in everyday jobs, conducting transactions and connection among business and government agencies and individuals and are involved in organizations, enterprises, and other institution. The most common and simple way to protect a network resource is by assigning it a unique name and a corresponding password.  To read more, read an article by Brendan Ziolo (Head of large enterprise strategy, Nokia): http://networkcomputing.com/net-security/security-starts-network/1250114547

 

 

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Moving towards Editorial Analytics from Generic Analytics

Few news organizations have developed "editorial analytics" approaches that move beyond the generic use. They develop a customized approach to analytics aligned with the specific editorial priorities. Editorial analytics differ from generic approaches in three ways.

First, editorial analytics are customized to the specific editorial priorities and organizational imperatives of a given organization. 

Second, editorial analytics are used to inform both short-term day-to-day decisions and long-term strategic development. 

Third, editorial analytics are always evolving to keep pace with a changing media environment. 

Editorial analytics represent a significant improvement in news organizations’ capacity to understand the media environment in which they operate. It also helps journalists to reach people.

For more read the article written by:  Federica Cherubini (Italian journalist and editorial researcher based in London) AND Rasmus Kleis Nielsen (director of research at the Reuters Institute for the Study of Journalism) at:

http://www.niemanlab.org/2016/02/the-next-step-moving-from-generic-analytics-to-editorial-analytics/

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All about Big Data

Big Data is massive. This article will explore the issues of big data: what it is, how it will improve decision - making, and how to use it correctly.

1) What's the big deal about big data?

Big data is all about three "V's" Velocity, Volume and Variety.

2) How it will improve decision?

# Deliver customer insights.

# Deliver targeted communication.

# optimize performance.

3) How to use it correctly?

# Collect data.

# Clean Data.

# Merge Datasets.

# Analyze Data.

To learn more about big data follow the article by Angela Hausman (PhD) at: http://www.business2community.com/big-data/big-data-like-teenage--01458960

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Artificial Intelligence to revolutionalise your life.

It is the very beginning of the robotic revolution. The progress in this field is set to increase its pace. So this instills a fear what if these AI models grow smarter than those who created them. With AI applications covering up all your works, what is the purpose that it might leave you? The use of AI is growing fast in all the sectors. It is helping in improving the human living standards. There is a gap between the computers and human beings. But the upcoming AI models are focused to remove this gap. This will make computer - human interaction more like human like interaction. Read more about it in the article written by Damon Beres(Senior Tech Editor, The Huffington Post) at: http://www.huffingtonpost.com/entry/artificial-intelligence-mit-tech-conference_us_56cb20ade4b0928f5a6c7463?section=india

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Preventing Silent Customer Attrition rate using Predictive Analytics

Silent customers create major risks to companies. They don't express their dissatisfaction. Companies can avoid these issues through the proper use of technology with predictive analytics.  Predictive analytics can stop the silent customer attrition by identifying four ways to retain customers:

1. Recognize customers who make a detailed analysis before they determine.

2. Determine the most effective actions to reduce the attrition

3. Distinguish between the best time, message, and channel to reach the customer.

4. Identify the full path to retention rather than one single action.

Companies that adopt predictive analytics to identify who is likely to leave and determine the best plan of action to stop attrition.

For more read :

http://www.information-management.com/news/big-data-analytics/using-predictive-analytics-to-stop-silent-customer-churn-10028295-1.html

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Artificial Intelligence demands all of your data.

It seems that the long winter of AI has come to an end and this field is enjoying the unstoppable progress in the spring stage. But the only way AI becomes more powerful is by getting fed with a tremendous amount of data. More the data, better the efficiency of the AI algorithms. Seeing the helpful uses of such AI based applications the users happily allow the access to any kind of data. In the coming times, there will be applications which would demand access to every kind of data you generate. And the truth is we will willingly submit our data. Because bigger the data sets are, smarter the AI. The major reason for feeding the AI algorithms is that is improving and helping the human life. Read more about it in the article written by Mike Elgan (author of  technology and tech culture) at: http://www.computerworld.com/article/3035595/emerging-technology/artificial-intelligence-needs-your-data-all-of-it.html

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Artificial Intelligence and cloud technology

To get the raw data, processed through the Artificial Intelligence models, the data has to be uploaded on a cloud. But there are privacy issues or time wastage in uploading data on cloud and retrieving back. Internet connection is a must. So to eradicate these problems, researchers have developed a chip that could bring AI to the hardware like smart phones, sensors or other mobile devices. These have very large neural networks, which can process data then and there. This means without having access to Wi-Fi or other connections, users can get meaningful insights rather than just the raw collected data. This technology will be of great help in the field of Internet of Things. To know more, follow: http://electronicdesign.com/iot/artificial-intelligence-gets-its-head-out-cloud

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Relation Between Precision Medicine & Predictive Analytics

These days, faster diagnostic and machine learning on large sets of data promise a real-time understanding of health. Predictive analytics help to decrease costs, and helps in preventive disease management. Precision medicine is an approach to treatment and prevention considering individual variability in genes, environment and lifestyle for each person and also classify people precisely, based on susceptibility, microbiology and/or prognosis, at a considerably higher resolution. Health data analysis provides useful perspectives to predict the future. Precision medicine makes true predictive analytics possible. Prediction requires precision, but it does not require precision alone. Predictability comes from a wide and narrow gap which requires a data sets with high-accuracy. For more read : http://hitconsultant.net/2016/02/22/31535/

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Trends of cyber securities for small business

Cyber securities are becoming a concern even for small enterprises today. Enterprises are investing a lot of money to resolve this issue. Here are three themes that can affect banks, small business and the economy-: 1. Tackling Evolving Cyber Security Risks - Small businesses are the most credulous target for the cyber attackers. They should keep data private, check the bank account regularly, develop enforceable security policies & protocols, and participate in action plans so that employees know what to do at the time of the rift. 2. Prioritizing Small Business Growth in a Post-Crisis Era -  Small business needs to raise their interest rates as expected the Federal Reserve increased rates by 25 basis points on Dec16 for more competition & structure plans to secure funding for future growth.
3. Continuing to Play by the Rules -  The regulatory environment will have to keep expanding its range. Growth comes the unavoidable growing points, as banks, and business deals with high regulated, low interest rate for more competition, more partnership and more technology.
To know more, please read the article by Frank Sorrentino (contributor in Forbes): http://www.forbes.com/sites/franksorrentino/2016/01/12/cyber-security-small-business-and-the-2015-trends-that-will-matter-more-in-2016/#761765904708

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Use of cloud computing in sports

Sporting events are increasingly depending on cloud computing. From cloud based mobile apps, followers can enhance their experience, ascertain the future value of trading an individual player and find out an athlete's momentum in real time by using predictive analytics. The cloud has revolutionized professional broadcasting by eliminating the risk of upfront IT investment, cutting off enormous resources needed to deploy traditional data centers. To know more, please read the article by Ben Rossi ( Content writer at Information Age )-:  http://www.information-age.com/technology/cloud-and-virtualisation/123460174/why-future-sports-cloud

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Artificial Intelligence in gaming industry

Artificial Intelligence is used to generate intelligent behaviors in gaming, to simulate the human behavior. But to make the experience more natural it is required that the artificial intelligence based players in the game must imitate the human behavior. That means they also must be prone to errors and mistakes. This is the real challenge in gaming for AI. AI models remember the patterns, so this avoids repetition of mistakes. Humans can lie very easily at every step. This is a complex phenomenon for the AI models. So this is what computer engineers are working on to make games with AI appear more natural. Read more at: https://www.newscientist.com/article/2078134-cleverness-isnt-everything-for-a-gaming-artificial-intelligence/

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