A company’s success depends largely on its staff. So, hiring the best talent and motivating them is a challenge being faced by the HR professionals. A data-driven HR department can make use of analytics to accomplish several tasks like identifying the factors that influence performance of employees, retention rates and using statistics to understand how salary is related to performance. When compared to other departments in an organization, the HR department lags behind when it comes to using analytics due to lack of analytical skills required to convert data into insights. With the advent of cloud technology analytics solution can be generated at a fester rate. Several cloud based companies are now providing in-built analytics solution in their software. Read more at: https://channels.theinnovationenterprise.com/articles/hr-analytics-in-2015

Amalgamation of data, technology and marketing helps the manufacturing industry acquire new opportunities for earning profits. Data obtained from the customers are stored in various different systems like inventory, billing etc. And normally the manufacturers have to gather information from a common source thus having no competitive advantage in the market.
Industrial manufacturers are now gradually shifting from traditional marketing methods to data-driven ones so as to gain more prospects. Solutions such as Data-as-a-Service (DaaS) are influencing the Big Data ecosystem increasingly. It mines the appropriate data required from the Big Data sets. Patented Web Mining is also an effective and efficient way to find new prospects. Social media also actively helps in promoting the manufacturers.  Thus industrial manufacturers can increase their market share to a great extent by shifting to data-driven strategies.
Read more at: http://www.smartdatacollective.com/lbedgood/327457/how-manufacturers-can-use-big-data-acquire-new-customers

Banks, when adopting a mobile-first strategy, should look beyond mobile apps. To achieve a successful mobile-first strategy, banking sector should deploy data analytics. Although several tech giants are threatening traditional banks with their mobile enabled financial services, banks possess certain advantages. They are a trusted source for financial services and have maintained long-term relationships with millions of customers. Banks possess a wealth of customer data, transactional data to be specific, which can be leveraged to gain insights on customers. This will help banks to understand customer behavior and target their behavior. Read more at: https://channels.theinnovationenterprise.com/articles/7649-banks-are-pioneering-the-mobile-revolution-but-can-they-see-beyond-the-app

In order to achieve accuracy of understanding customer’s experience the company executives have to come up with varied surveys and several tricky questions. We can gain a more empathetic experience of customers experience with the appropriate amalgamation of observations, sensors, data and designs. Being aware of the users experience is very critical for the technology design.
There are certain emotions which cannot be explained by words. Sensors can pick up these stress signals, combine them with the available textual data and thus identify the emotional triggers of a customer’s experience.
The comprehensive data on the experience of the user can be gathered by observing the way user interacts with the product or application. It exactly determines how the design is performing and whether it needs improvement or not.
Read more at: http://www.informationweek.com/it-life/can-data-teach-us-empathy/a/d-id/1321022?

Data is the most important thing for marketing today and most marketers understand this pretty well. Simply collecting data won't help. It should be able to tell a story. Insights derived from data are very important. Data should be able to help marketers identify their customers and the appropriate offers for them. In an organization, every department holds some data on customers. The first task of the marketer is to get rid of data silos and gather all the marketing data at one place. Once this is done, robust analytics tools can be applied to the data to generate a singular customer view. Read more at: http://www.business2community.com/big-data/marketers-big-data-worth-01263023

Big Data’s prospects are tremendous and will keep growing but only if we can keep up with it. Bangalore now monitors traffic in real time. It is only then that Data Analytics steps in, helping take calculated decisions for the strategic spots for sign boards and road markings. Thereby reducing congestion and allowing safer travel. We see how crucial the hardware, software, networking and data center are in the analysis of such data. Analytical data mining seems to be the majority of the effort now. Smarter data centers, networking practices and rapid storage technologies will be the start of a cycle of innovation that may be a few decade long. Ironically enough, in-depth analytics generates data that has greater need for computation and large storage systems that will allow rapid testing and deployment. Read more at: http://www.firstpost.com/business/big-data-paradox-2323460.html

We often struggle to extract real benefits from the large pool of data we have and volume of information is only going to swell in the future. What we need is to "learn to listen to the data".

1. Focus should not be on goal setting but on learning.


2. Many new voices- big data allows us to hear the voices of the silent. Like the customer voice and Workers voice. We can understand our team’s habits in real world by seeing their working behaviors. We can get the employees to tell us how to make the business model smarter and we can use this knowledge to design systems and incentives that make your business better.


3. Addition of sensor data enriches our understanding even further.

4. Wearables will open up whole new sources of data on human behavior and we will also hear from machines, buildings, even animals and oceans.


To read more - http://www.webanalyticsworld.net/2015/06/listen-to-the-voices-of-your-data-for-great-analytics.html

Call centers control nearly 90% of the communications with organization's field representatives and customers and thus have a tremendous impact on the credibility and perception of the organization. This makes training of its voice a crucial aspect. Four steps to evaluate your training program are-

1. Building the fundamental skills

2.Technology training program- so that the voice of your organization is up to date on the new technologies.

3.Training staff about how the company do business

4.Regular audit of training program.

To know more-http://www.callcentertimes.com/Articles/tabid/59/ctl/NewsArticle/mid/407/CategoryID/1/NewsID/989/Default.aspx

Social media has changed the retail environment by becoming the new consumer watchdog and has bring forth new challenges. It has changed the way people see news and learn about new products. If used wisely, mobile, digital and social media can be a powerful business weapon. Another great weapon is Customer service!
For instance a good customer service where you resolve a problem quickly can have a great influence on repeat purchases.
By being ferociously committed to customer service you can contribute to the success of your company. We need to remember a few basics-

1- Understanding customer needs- its very important to listen and show interest in customer needs.

2-Stepping into your customer’s shoes- Human beings like to be treated nicely so it’s important to show the customers you care about them and they matter.


3-Providing extra benefits- Going beyond customer’s expectation insures speedy success.


Read more here- 


http://www.callcentertimes.com/Articles/tabid/59/ctl/NewsArticle/mid/407/CategoryID/1/NewsID/988/Default.aspx

Microfinance companies are financial institutions that provide banking services to low-income groups or individuals. The concept was first developed by Bangladeshi economist Professor Muhammad Yunus. Microfinance companies can be widely found in developing countries as many regions of these countries lack access to mainstream banking services. It has witnessed widespread success in developing countries and won praises from many. But there exists ethical issues with microfinance companies. Though they provide the poor with funds to escape poverty, it burdens the vulnerable section with debt. Profiteering in the sector has also been reported. Thus there is a need for increased regulations to ensure transparency in the operation of microfinance companies. Read more at: https://channels.theinnovationenterprise.com/articles/the-growth-of-microfinance-companies

With the ever-increasing number of mobile phone users, banks should adopt a mobile-first strategy. Traditional banks are facing a threat from tech giants who are now focusing on developing mobile-based financial services. To achieve a successful mobile-first strategy, banks should resort to agile methodology. With the help of agile methodology banks can solve many challenges that they are facing today. With mobile technology, data on customer needs and preferences will be generated which can be leveraged to gain insight on customers. Lean start-up techniques can be devised for creation of new services in uncertain situations. Platform-as-a-Service (PaaS), a cloud technology solution can be used to develop mobile apps. Thus, a successful mobile-first strategy requires an IT infrastructure enabled to adopt agile methodology and can leverage data and analytics on a big scale with PaaS. Read more at: https://channels.theinnovationenterprise.com/articles/7609-how-can-banks-achieve-a-successful-mobile-first-strategy

Here are a few tips on how to bridge that gap between big data and the real world. New product development is a field full of quantifiable unknowns. While working on a new concept, the decisions are based on evidence that proves that their idea outmatches the other alternatives. Identifying connections between the data on social media and online communities and the comparison of this with their competitors’ development policies then become their groundwork for smarter solutions. Visualization of data quickly converts the data is understandable forms. This speeds up the decision process. It is important to note that more data doesn’t always mean smarter data. The motive should be to capture relevant Read more at: http://www.innovationexcellence.com/blog/2015/06/29/actionable-ways-big-data-analytics-can-actually-improve-innovation/

As the Internet evolves with the usage of Big Data and Cloud, the shift from cloud data to cloud action is eminent. This shift has large implications for consumers. In five years’ time, the number of connected devices will grow to near 25 billion. From regulating the temperature of the house using smart thermostats to using reports and dashboards for a clearer insight to make smarter decisions. There is a need of a system which we can entrust our identity with, where our identity is safe while making transactions in the background. For this, companies of types must begin to bridge the gap between the physical and digital worlds. Only then can we begin usage of the delicate frameworks in a network based on our truly unique digital identity. Read more at: http://recode.net/2015/06/29/big-data-vs-best-data-the-future-of-you-in-a-networked-world/

Several sophisticated data techniques have been used to determine prospective services and specialties preferred at a particular geographic location. For example, psychographic data, provided by a customer analytics company, reflected local healthcare consumption trends. Demographic and marketing data, from health-planning agencies and hospital associations, as well as electronic health records (EHR) should be studied to visualize new market opportunities, i.e. new locations for health-care facilities. Healthcare strategists like retailers, are using geo-analytics—visualization tools incorporating sophisticated geographical and marketing data—to determine prospective health-care facility locations. Healthcare organizations should be analyzing data extracted from EHRs, along with health insurance claims data to understand the services used by potential healthcare customers.
Read more at: http://www.modernhealthcare.com/article/20150530/MAGAZINE/305309978/no-more-guessing-health-systems-tap-sophisticated-data-tools-to-pick

Sigmaway consultants have worked with clients in benefits solutions workspace providing analytics on healthcare plans. For more details visit http://www.sigmaway.us/

Digital privacy is dangling on the edge of the cliff as public cynicism has always been high. To battle this, there has been innovation in Big Data: Customer Empowerment. Usage-based insurance (UBI) programs can allow people to trade in their personal data in a transparent market transaction. Companies thus have data owners that are treated based on their data, thereby increase brand satisfaction and reaping larger profits. A survey hinted that half the consumers in U.S., U.K. and Australia are alright to share personal data in exchange for product/service incentives. Drivers of automobiles can now track their driving behavior with sensors that calculate personal driving profiles that are then factored into their auto insurance. Read more at: http://techcrunch.com/2015/06/29/the-latest-big-data-innovation-is-consumer-empowerment/

The quality of big data is more important than the quantity of big data. Three types of data a company should be stressing on:
1. Social data- Marketers are now focused on estimating the number of followers of the company website, and its products now that there are ample opportunities to share the knowledge of their products in social platforms like, Facebook, LinkedIn and Pinterest.
2. On-line IDs- Data has taken marketing to a whole new level. Data can be collected and used to personalize messages and send offers through mediums most preferred by consumers. This is often done by connecting off-line data with on-line identities.
3. hard-to-find data- Enterprises produce large quantities of data everyday as a by-product of their day-to-day business transactions. Many companies, realizing the benefits of monetizing these data assets are making it available to other firms and the fact that the data has already been mined and sourced, adds value to the whole procedure.
Read more at:

http://www.business2community.com/big-data/3-big-data-types-will-increase-roi-01257959

Big data is the new buzzword. It has become one of the imperative equipment required to conquer growth across industries. Here is how you can master the art by following thee 5 rules, coined by Rishi Sikka, Advocate Healthcare.

#1 Clue lies in the past: to be able to predict future, it is necessary to dig deeper into the past data and EHRs.

#2 Diversify risk through strategic distribution of resources.

#3 Impactability- healthcare organisations should focus where and to which extent do they impact.

#4 Take population Health as a predictive exercise, not academic.

#5 Minimize costs, work to provide best healthcare.

Read more at: http://www.healthcareitnews.com/news/5-tips-becoming-big-data-superhero

Big data can also be applied in the field of humanities specially history. With advancement in text analytics, historians can now go through a huge number of historical documents and discover patterns and trends from the past. These then can be used as evidence to check if theories are correct. Research students analyzed a huge number of novels using big data analytics which allowed them to leverage insight on what the semantics implied about the society. Given the nature of historical documents, it is difficult to digitalize and apply text analytics to those. Thus data analytics is being considered by historians now. Big data when applied to history will help bring information scattered over the world thus helping historians to gain insight and predict the future. Read more at: https://channels.theinnovationenterprise.com/articles/data-looking-at-the-past

When it comes to the healthcare industry and its ongoing revolution, Big Data and Internet of Things have become an integral part of it. As more and more health data is now being digitally stored, the seer amount collected on patients is growing at exponential rates. Big data, already used for the mapping of the human genome, is now showing its value in the analysis of large complex data and thereafter in predictive analytics to find people most at risk of a certain illness. Predictive analytics isn't the only place where Big Data and IoT have helped in the advancement of healthcare services. There is now the possibility of analysis of data generated by IoT devices to help calculate medication tailored for each patient and also calculate their results in advance. Read more at: http://www.predictiveanalyticsworld.com/patimes/the-iot-and-big-data-are-teaming-up-to-push-healthcare-further-than-ever-0627156/

Gaining insight from marketing databases is proving to be a tedious task for today's marketers. A recent survey has revealed that applying the accurate solutions to analyze and interpret data is the biggest challenge being faced by businesses today. To mitigate these problems, marketers can consider using marketing data management services. With the help of these services data consistency and completeness can be achieved without putting in much manual effort. Extracting insights from marketing databases leads to improvement of clarity and insight on target buyers. Once marketers are able to identify prospective consumers, they can create content that are personalized in nature and hits the targeted consumers. Read more at: http://www.business2community.com/big-data/you-love-data-but-your-teams-not-so-hot-for-it-three-tips-to-get-them-on-board-01259909