SigmaWay Blog

Nowadays powerful connected devices are enabling everything from aircrafts to cars, to industrial machines, providing better user experience and saving time and costs through improved operations. The key to this machine intelligence lies in advanced analytics. The Internet of Things (IoT) connects new places such as manufacturing floors, energy grids, healthcare facilities and transportations systems to the Internet. This ensures more data gathered from more places and more opportunities to leverage that data through real-time predictive analytics to improve business outcomes. In the automotive industry connected devices are bringing new levels of intelligence to ensure safety as well as convenience. New ecosystems of connected machines have the potential to increase efficiency with insights to make smarter decisions. Other emerging areas are also witnessing rapid growth of connected devices. These developments are leading to improved safety, security and loss prevention. The three steps companies can take to embrace IoT are- capture and extract data, leverage an analytical engine and give back the insight. Read more at:

http://www.informationweek.in/informationweek/perspective/297298/companies-unlock-value-generated-connected-machines

Continuous Improvement is the prevalent effort to improve services, products and processes by making incremental improvements within a business. This process must be a continual so that the opportunities for development can be highlighted, measured and evaluated

• Leadership that walks the talk- Leaders must exhibit certain distinct behaviors that not only describe support for the initiative but also the behavioral pattern that they wish all employees to emulate. 

• A major focus on “fire prevention” rather than “firefighting”- The problems that require fixing are generating a series of “fires” that on a constant basis distract managers from solving the main cause of their problems.

• Constancy of purpose- Successful continuous improvement programs includes that improvement is not only a management initiative but also a long-term practice that needs to incorporate everything an organization does.

• Shift from short term to long term mind-set- The company needs to have at look at the long-term result of the work it is doing.

Read more at:

http://www.processexcellencenetwork.com/innovation/articles/continuous-improvement-4-factors-that-make-a-conti/

The Internet is the great equalizer as it gives small businesses marketing opportunities on par with their larger competitors. The good news is that a number of inexpensive small business marketing methods can help a business achieve its goal-and some are even free. The following are the small business Marketing Tips one can afford: 1. Post videos online

2. Post case studies on one’s website

3. Use company’s blog to reach out to prospects and customers

4. List the company on Google Maps/Local

5. Search forums for customers

6. Share information all over the Web

7. Use content curation to drive interest in the products

8. Use online services to re-target lost sales and to list products

9. Use Facebook's sponsored stories

10. Use online services to get the media's attention.

Not every marketing tactics listed above will work well for every company, but a combination of several of them—or adaptations to any of them—should be helpful to just about any company.

Read more at: 

http://www.smallbusinesscomputing.com/News/Marketing/10-affordable-small-business-marketing-strategies-3.html

Continuous Improvement includes different methodologies and disciplines  including Business Process Management, Performance Management,  Compliance, Quality Management, Lean, Six Sigma and more. In spite of all the different terms,  methods and techniques  available, there are commonalities between these different approaches -all of them seek to continuously improve business processes to improve business results. But often companies are their own worst enemies when it comes to process improvement. Here are the main barriers to continuous improvement:

• Difficult to foster collaboration among multiple stakeholders

• Difficult to recognise which processes to prioritize improvement efforts on

• tooling of ill-suited Process Management

        Process Management tooling is inadequate

        Process Management tooling is too complicated

• Governing change to meet compliance obligations

• Lack of employee engagement

Read more at: 

http://www.processexcellencenetwork.com/lean-six-sigma-business-transformation/articles/five-barriers-to-continuous-improvement-vote-for-t/

With the advancement of measurement and analytics, the pressure on marketers to demonstrate return on investment also advances. According to McKinsey & Company, an integrated marketing approach is essential to uncover meaningful insights and drive growth. Integrated measurement reduces biases in any one measurement method and enables leaders to identify which activities produce the best return.  Standout measurement approaches include: • Marketing mix modeling. Marketing mix models quantify the sales impact of various marketing activities and determine the effectiveness and ROI for each.

• Media measurement. Marketers can measure the reach, cost and quality of components to assess performance — more specifically, the number of target consumers reached, the cost per unique touch and the quality of engagement and/or media placement. 

• Attribution modeling. Attribution modeling, or crediting converting traffic to online touch points, has become increasingly important for media buying and marketing execution.

In order to boost marketing ROI companies use: 

• Marketing mix modeling to track how well each activity generates audiences; 

• Attribution modeling to pinpoint which activities within the marketing mix generate the most conversions (such as search vs. display marketing in digital)

• Media measurement to monitor marketing activities via print, which will help it capture a new audience and generate more revenue.

Although some companies rely on one analytical technique, organizations that use an integrated measurement approach will see the optimal ROI.

Read more at: 

http://www.cyberalert.com/blog/index.php/using-integrated-marketing-measurement-to-make-better-decisions/

Six Sigma has been the key driver for performance improvement for many companies. One of the structured innovation techniques that can be used for tactical innovation within the DMAIC cycles is the TRIZ methodology. One necessary aspect of the definition of innovation from our point of view is that it must result in a significant improvement for customers or some segment of society. One thing is certain, and that is the repeatable, reliable and predictable application of innovation is going to require putting some structure around it.  For an organization or company to be competitively excellent, innovation will be required of all and the only way to make that happen is to put structure into the innovation process. And of course, structure connotes Six Sigma. There's that cycle again-one leading to or needing the other.  According to Mikel Harry, a legitimate founder of Six Sigma, Six Sigma was designed and introduced to generate breakthrough improvement. And that is going to require innovation. Clearly, a balance is needed, for Six Sigma may not have been implemented as it should have been, or maybe the necessary structure for the realization of repeatable and reliable innovation has not yet been established. Nonetheless, it is both clear and proven that Six Sigma needs innovation and that innovation needs Six Sigma, and when they are united, innovation and Six Sigma are an unbeatable force. Read more at: 

http://www.processexcellencenetwork.com/innovation/articles/six-sigma-and-innovation/

The strength of social media is that it can answer questions you had not asked and perhaps had not even thought of. Its weakness is that it can't answer most of the questions that market researchers' clients ask. There have been some successes and a couple of examples are

• Assessing campaign or message breaks through.

• Identifying language, topics and ideas.

• Outside market research.

But the key problems are:

• Most people do not comment in social media, and most of the comments are not about clients’ brands and services.

• Social media deals with the world as it is, brands can’t use it to test ads, to test new products and services, or almost any future plan.

• The dynamic quality of social media means that it is very difficult to compare two activities. Thus the accuracy of social media measurements become limited.

• Good social media usage requires people, which tend to make it more expensive and slower.

• It is very difficult to attribute the comments to distinct groups.

Read more at: 

http://www.greenbookblog.org/2014/04/25/why-has-social-media-analytics-met-with-limited-success-in-market-research/</a

Social media defines an array of Internet sites that enable people from all over the world to interact. We all have our own reasons for using social media. What is interesting is that the researchers found that people who are more anxious and socially insecure are more likely to use the social networking site. In 2012, Anxiety UK found that 53% of participants said social media sites had changed their behavior, while 51% of these said the change had been negative. Many people using social networking sites make comparisons with others, which can lead to negative emotions. Furthermore, the survey revealed that two thirds of participants reported difficulty relaxing and sleeping after they used the sites, while 55% said they felt "worried or uncomfortable" when they were unable to log onto their social media accounts. Although many studies point to the negative impacts of social media on mental health and well-being, some researchers say they could have the opposite effect. Social networking sites could be a useful tool in identifying individuals with mental health issues. A study, from the University of California San Diego, suggests that using social media may even spread happiness. They found that happy status updates encourage other users to post happy status updates themselves. Overall, it appears that the exact effects of social media on our mental health and well-being remain to be seen. Read more at:

http://www.medicalnewstoday.com/articles/275361.php</a

Business leaders understand the strengthg and usefulness of managing the improvement of business results through process improvement teams. There is no better approach to process improvement than the application of Six Sigma tools and methods. Moreover, the disciplines of project management and Six Sigma are substitutes but they are complementary. The similarities between project management and Six Sigma include:

• Utilization of established project management techniques to efficiently manage a project and project teams.

• Necessity of proactive project sponsors or champions to help ensure project success.

• Life cycle and phases.

• Need for a well-experienced project facilitator to lead the effort.

Six Sigma adds additional dimensions to project management: 

• Powerful set of process improvement tools.

• Statistical and process thinking to understand and improve results.

• Understanding of variation, to eliminate knee-jerk reactions.

• Quantitative analysis for base decisions on facts and data.

Read more at: 

http://www.microsoft.com/project/en/gb/six-sigma.aspx

The year 2014 tends to be an important year where technology discovery will further build a future in which companies make data-driven decisions. The Top 5 data analytics trends that companies believe are going to rule the industry are:

• Data Visualization Goes Mainstream-Visual analytics allows business users to ask interactive questions regarding their prepared data sets which makes the whole process engaging.

• Mobile Data Marches to the Top- The top priorities for companies will be defining mobile metrics that matter, understanding mobile technology and collecting and analyzing mobile data.

• Analytics in the Cloud Grows Up- Innovations like cloud data warehouse platform from Amazon will gain importance  enabling fast and secure solution at very cheap prices.

• Predictive Analytics Takes Center Stage- the increasing demand for business users to examine data for decision making, provide the base for predictive analytics to gain significant ground in 2014.

• Internet of Things -- It’s everywhere! - Companies that are doing a great effort in product design and development will emerge as the first winners as they adopt through innovative marketing.

Read more at: 

http://tdwi.org/Articles/2014/01/28/5-Data-Analytics-Trends-2014.aspx?Page=1</a

Today companies have vast amounts of informations available to carry business moves. The General Mills and IBMs of the world now are using complicated-and expensive-Business Intelligence (BI) systems that can combine data together from a multiple operating systems and generate best reports that highlight not only what has occured and what is happening, but also what will probably happen. Can Small Business Benefit From Business Intelligence Software?

• It can help a small business compete with larger competitors or enhance market share.

• Vendors are getting experienced at making software that’s affordable.

• BI vendors are starting to educate a younger crowd. 

• The cloud now puts non-IT users in the driver’s seat. 

• Before investing in BI tools, one must know what answers they are looking for.

• Forget about using BI software if one don’t have access to best operational data.

• BI is increasingly going mobile. 

 Read more at:

http://www.inc.com/articles/201109/business-intelligence-software-for-small-business.html

Master Data Management (MDM) programs often start with the analysis of the available technology and products but not the business problem they tend to solve. Three primary categories of MDM benefits are operational efficiency, better business intelligence, and regulatory compliance. The following are ten things one can do now to prepare the organization for  MDM initiative:

• Set goals and success criteria.

• Prepare a business case.

• Build a governance process.

• Choose the first subject areas to attack.

• Carry a data inventory.

• Recognize executive sponsorship.

• Identify business champions.

• Set up an educational forum.

• Educate yourself about products and approaches.

• Develop a business model of the data to be handled.

Read more about this article at: 

http://esj.com/Articles/2008/06/25/Ten-Tips-for-Master-Data-Management-Success.aspx?Page=1

Analytics and big data are on the verge of scoring major points in sports. The following are eight ways data analytics can improve efficiency, accuracy and profitability in sports:

• Better Precision in the Strike Zone- In baseball, Pitchf/x technology from Sportvision has been set up in Baseball Stadiums to have a track on pitches.

• More Resources for Analytics Buffs- Statistic enthusiasts have a series of websites they can visit to see different aspects of specific games and plays.

• Data From Wearable Technologies- Adidas has a system called miCoach that works by attaching a wearable device to the players's jerseys to gather data.

• Live on the Field Data Collection- A Company; SportVU has six cameras in each NBA arena which gather data on the movements of the basketball 25x per second.

• Predictive Insight into Fan Preferences- Analytics can advance the sports fans' experience as teams.

• Career Opportunities for the Blended Sports Fan and Numbers Whiz- Bryan Colangelo, former president of the Toronto Raptors, says "There are mountains of opportunity in analytics now"

• Influence Coaching Decisions- Data analysts could help to transfer the most requisite data sets to coaches for better outcomes on the field.  Read more at:

http://www.cio.com/article/2377954/data-management/8-ways-big-data-and-analytics-will-change-sports.html

20-30% of the business decisions really need the use of advanced techniques like predictive analytics.   70-80% of marketing decisions can be judiciously carried with simple analytics techniques. A CMO broadly expects 3 key outcomes for his business:

• Bring more “future” customers in the most cost-effective manner.

• Convert those who come to the door into customers.

• Maintain the current customers “buying.”

Predictive Analytics need advanced skills and constant maintenance. A product manager or an operations manager equipped with the right “Data to Decisions” framework and easy access to data can optimize 80% of their daily workflow on their own, without having to depend on little and costly analytics resources. For 20% of decisions, where the potential ROI justifies the use of advanced techniques, they can work with their analytics counterpart. In summary, a smart CMO knows that a marketing team equipped with a “Data to Decisions” framework and easy access to data without the company of a data science team would emerge much better than a marketing team lacking data skills supported by a large data science team.  Read more at: 

http://www.forbes.com/sites/piyankajain/2013/05/26/the-8020-rule-of-analytics-every-cmo-should-know/

Big data analytics has attracted the interest of the security community for its promised ability to correlate and analyze security-related data judiciously and at unprecedented level. New big data applications are beginning to become part of security management software because they can help prepare, clean and query data in incomplete, and noisy formats efficiently. Fraud detection is one of the best uses for big data analytics. One of the main results from big data technologies is that they’re supporting a large variety of industries to build affordable infrastructures for security monitoring. In particular, new big data technologies are enabling the analysis of large-scale, heterogeneous datasets at unprecedented scales and speeds. Now big data tools are improving the information available to security analysts by consolidating, correlating and contextualizing diversified data sources for longer periods of time. Big data tools are also particularly suited to become basic for advanced persistent threat (APT) detection and forensics. Hence big data is changing the landscape of security technologies for network monitoring and forensics.  read more at: 

http://www.infoq.com/articles/bigdata-analytics-for-security

There has been a transformation and a creation of positive impact on the social and economic relationships across the stakeholders. Thus companies today need to treat Big Data and analytical tools as an asset. However data presents inherent challenges in adoption. Companies are grappling on how to contextualize information, and presenting the data in a lucid manner is another challenge. Without making inroads into old processes and investing in the right kind of people to tap into data's hidden potential, a company can never fully realize the scope data offers. According to several research studies, Big Data is a top business priority that can transform processes and organizations. Thus a good data miner always finds a right balance between machine and man. Data visualization is another important tool to help management and reflect how businesses and markets are changing. To know more, please follow:

http://www.informationweek.in/informationweek/perspective/297284/-challenges-opportunities

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

There is a blending of the system administrator and network administrator roles as a result of emergence of cloud computing and software defined infrastructures. Historically, the demarcation of the two, happened at the RJ-45 socket on the NIC. Anything that involved the cable, switches, routers etc. was not the concern of the sysadmins. Likewise, if the light was blinking on the NIC, anything happening inside the box was not the problem of network admins. Now, sysadmins, particularly application administrators, must now be cognizant of network technologies and operations, network admins who want to keep networks in top shape must now have an awareness of what application traffic is flowing across the network and how to design and implement networks to support those needs. Thus the roles are merging and in the near future, they both can be together known as "cloud administrators". Read more at: http:

http://www.informationweek.in/informationweek/news-analysis/297170/rise-cloud-administrator

Social media is an ever changing scenario where social media marketers are increasingly using predictive analysis to ensure longevity. Various brands are using predictive analysis technologies to trawl through social media chatter to identify upcoming trends. It will also ensure that your brand be one of the first few to take advantage of the trend and gain maximum exposure. Your social media campaigns will also be much more refined compared to those of brands that don’t use predictive analysis. With predictive analysis, your brand will be able to pick out the right news, items, etc. that could become the next big thing on social media landscape, giving you ample time to prepare. Now smart brands are realizing that predictive analysis can be used in social media marketing to understand what consumers are looking for. Predictive analysis tools ensure that brands understand consumer behavior on social media.

Read more about this article at:

http://www.simafore.com/blog/bid/205332/How-Predictive-Analytics-Can-Boost-Your-Social-Media-Campaigns

Many investors think whether or not investing in stocks is worth. Inspite of the real problems, the following common myths often arise.

 • Investing in Stocks Is Just Like Gambling.

Investors often mistake that stock represents the ownership of a company. Gambling on the contrary takes money from a loser and gives it to a winner.

• The Stock Market Is an Exclusive Club For Brokers and wealthy People.

Most brokers are notoriously inaccurate. Furthermore, the discovery of the internet has made the market much more open to the public.

• Fallen Angels Will Go Back up, eventually.

Buying companies entirely because their market price has fallen will get you nowhere.

• Stocks that go up must come down.

If you find a renowned firm run by excellent managers, there is no way the stock won't keep on going up.

• A Little Knowledge Is Better Than None

It is important in the stock market that every investor has a compact understanding of their investment.

 Read more at: 

http://www.investopedia.com/articles/02/061902.asp