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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.

Continuous technological upgrade for stress tests

In an article written by Penny Crossman (Editor in Chief of Bank Technology News and Technology Editor of American Banker), explains how with increasing number of loans and NPA's banks are evolving their technological infrastructure to not only check on defaulted loans but also on individual loans. Stress tests are being employed by banks world over to keep a tab on their loans and overall loan processes. Stress tests requires synchronized data from financial information, loan loss data and compliance data. Data management is one of the core issues to be handled for performing a stress test.

For more information please visit:-

http://www.americanbanker.com/issues/179_98/stress-tests-require-continuous-tech-upgrades-bankers-say-1067624-1.html
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What companies need to make money out of Analytics?

Companies are using data analytics intensively and they should remember that to make money out of it and enjoy profits, they have to measure it.

At VentureBeat’s Databeat 2014, experts were of the opinion that companies are not using analytics to its full potential. Data scientists must be engaged with the organizational activities for providing support and insights, based on which the concerned employees can react. In the background are various social networks. By using the right social media tools, they can get a view about their operations from a real – time perspective. They can generate dashboards and graphs which will provide them valuable inputs in terms of revenues. Apart from this, it can be an effective marketing tool also.

All this will zero in the ultimate thing – increase the profitability. But, for implementing analytics, cultural change in the organization is also necessary.

Read at http://venturebeat.com/2014/05/19/some-simple-but-important-reminders-on-how-user-analytics-can-help-you-make-more-money/  to know what the experts told in the conference.

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Field service organizations gaining through improvements in workflow processes

This article explains how companies are benefiting by improving and modifying workflow processes. Main areas of improvement are planning and forecasting, scheduling, call and appointment management. This article also throws an interesting light towards few approaches taken by the companies for adopting the best practices in workflow processes.

For more information please visit:-

http://www.echannelline.com/2014/05/06/tech-data-canada-brings-cisco-smartattach-opportunity-portal-to-canada/
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IVR: how to choose the right one

In an article written by Chad Brooks (senior writer of BusinessNewsDaily), explains how to choose a right IVR for your organization. IVR system attends to customer's request based on customer's response. It is an automated process and reduces a great deal of human interaction. So, getting a right IVR for your business will increase your customer satisfaction.

For more information please visit:-

http://www.businessnewsdaily.com/6328-interactive-voice-response.html
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IVR pricing in India

In a blog written by Uttam Pegu (an IVR blogging expert), we come to know about the current pricing scenario of IVR in India. This article also gives us an insight as to how companies can explore more opportunities for revenue generation through their IVR services.

For more information please visit:-

http://www.ivrsworld.com/ivr-news/are-ivr-pricing-right-in-india/#more-2359
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Reasons for moving contact centers to cloud

In an article written by Chris Preimesberger (?Editor, Features & Analysis eWEEK web magazine), gives us some reasons that why we should move our contact centers to cloud. Moving contact centers to the cloud will ensure better security, flexibility and productivity. It also opens an opportunity for companies to adopt cost-efficient IT, which empowers customers to be in control of their software. Cloud-based software focuses on the customer needs and business goals and simply enables a better user experience.

For more information please visit:-

http://www.eweek.com/cloud/slideshows/move-contact-centers-to-the-cloud-asap-10-reasons-why.html
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Basic knowhows of voice user interface design

In a white paper submitted by Pronexus (telephony, speech and database integration company), we come to know about the basics of voice user interface design. This white paper outlines many minute things that one should keep in mind before designing a voice user interface. He also describes what voice user interface is and what the design issues related with it are.

For more information please visit:-

http://www.pronexus.com/ivr-resources/ivr-white-papers/finish/3-white-papers/2-understanding-voice-user-interface-design
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Which one is better ? Proactive call optimization or reactive call tracking analytics.

In a blog written by Irv Shapiro (CEO and head coach ifbyphone), we come to know the basic differences between proactive call optimization and reactive call tracking analytics. In his blog he explains how a VBMA suite has state of art technologies to deal with many impending problems that today's business organizations face with respect to call tracking etc. VBMA is used to route the call to a proper agent. The technology should be easy to use and not complex in its handling.

For more information please visit:-

http://public.ifbyphone.com/blog/big-data-late-matter/
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Problems in collecting multiple customer comments from post call IVR survey

In a blog written by Dr Jodie Monger, a pioneer in customer satisfaction research for the contact center industry, explains how problem arises in collecting multiple customer comments from post call IVR survey. He also explains what the problems are and how to solve those problems. 

For more information please visit:-

http://metrics.net/blog/2013/03/current-post-call-ivr-survey-prevent-collecting-multiple-customer-comments/#more-5496
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New age of healthcare

As healthcare industry changed dramatically and became more consumer driven- prevention, personalization, prediction, pre-emption and personal responsibility have become important. Telecommunication companies are coming with advanced and customized products to meet unique requirements of the healthcare industry. Products range from providing connectivity for enterprise mobility, asset management and exchange of health data in various formats, platforms for healthcare IT tools; mobile apps for physicians and healthcare professionals to patient engagement solutions. As healthcare moves toward "On-demand, anytime, anywhere" concept, sensor technology will revolutionize the healthcare industry. For more details please visit: http://www.forbes.com/sites/reenitadas/2014/05/19/healthcare-beware-new-intruders-are-coming-introducing-the-new-gold-rush/

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DFSS in product and services industry

In an academic paper submitted by Usman Asad, Ayon Chakraborty and Tan Kay Chuan of National University of Singapore, we come to know how DFSS is helping in innovation, designing and creation of new products and services. DFSS helps the product and services industry to adapt to best practices thus ensuing greater returns.

For more information please visit:-

http://eprints.qut.edu.au/47097/1/Comparative_Study_of_DFSS_in_Product_and_Service_Innovations.pdf
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Independent role recommended to drive healthcare changes

Healthcare policymakers recommended that a politically independent working group or health commission is needed to drive significant changes in the industry. The reason behind establishing health commission is to avoid healthcare funding crisis. A research group in New Zealand predicted that the country has only around eight years to make changes in spending patterns of the industry before health costs start to impact the Government's ability to keep the country within budget. For more details please visit: http://www.scoop.co.nz/stories/GE1405/S00065/independent-role-recommended-to-drive-healthcare-change.htm

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Next phase of healthcare: digitalized version

Patients want digitalized version in healthcare industry similar to amazon.com where they will get all information about insurance, prices, and availability. New entrants -- ranging from entrepreneurial start-ups to telecommunications companies, retailers, athletics firms, consumer products businesses, and more -- have entered the fray, with more expected to target this $2.8 trillion opportunity.  For more please visit the link: http://www.informationweek.com/healthcare/patient-tools/healthcares-next-phase-think-amazon/d/d-id/1251010

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Southampton A.C.O. announces the benefits of joining an ACO

This article is released by Southampton ACO. It tells us in details about the benefits of joining an ACO. For more details please visit: http://www.prweb.com/releases/2014/05/prweb11811576.htm  

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Comparison between DFSS and DMAIC

 

An article in iSixSigma magazine points out the basic similarities and differences between DFSS and DMAIC. It is a well written article which explains highly technical term in layman’s language. The DMAIC methodology is almost universally recognized and defined as comprising of the following five phases: Define, Measure, Analyze, Improve and control. DFSS is the acronym for Design For Six Sigma. Unlike the DMAIC methodology, the phases or steps of DFSS are not universally recognized or defined. 

For more information please visit:-

http://www.isixsigma.com/new-to-six-sigma/design-for-six-sigma-dfss/design-six-sigma-dfss-versus-dmaic/
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How target marketing can backfire

Nowadays, companies find that targeting a particular audience is much more fruitful than targeting mass audience. But sometimes, it may happen that targeted audience do not buy the product, and hence targeted marketing backfire. A recent study conducted at Dartmouth College, explores what happens when identity marketing misses the mark. The research was based on two types of identity marketing,

        Marketing that simply references consumer identity

        Marketing that explicitly ties consumer identity to a brand purchase

This research suggested that consumers are less likely to buy a company’s product which explicitly links an identity. The reason behind this is, while people may be drawn to brands that fit their identity, they are also more likely to desire a sense of ownership and freedom in how they express that identity. For more details please visit Elizabeth Palermo’s article link: http://www.businessnewsdaily.com/6277-how-targeted-marketing-can-backfire.html

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Online medical information – bane or boon for the healthcare system?

A recent study, conducted across the major cities in India suggested that doctors have been facing problem to deal with patients who use internet to find the cause of a particular disease. Internet in general and medical websites is becoming doctors' worst nightmare. We cannot deny internet's potential in providing healthcare information. But debate is, whether too much information is dangerous or not. In this scenario different doctors are providing different opinion about the use of internet. Some of them find that internet is useful, and they also feel quite comfortable while discussing the diseases with well-informed patient. An analysis on a health information site suggests that only 10% of the searches land up on reading articles about symptoms of diseases. In fact, health websites play a far more diverse role than doubling up as an online doctor or symptom checker. Doctors are also afraid of wrong information which is available in net. For more details please visit Nirmalya Dutta's article link: http://health.india.com/healthcare/online-medical-information-bane-or-boon-for-the-healthcare-system/

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Overview of Lean and Six Sigma in hospitality industry

In a professional paper submitted by Justin M Lancaster, University of Nevada, we come across various topics covering advantages, disadvantages and road ahead for Lean and Six Sigma in the hospitality Industry.

For more information please visit:-

http://digitalscholarship.unlv.edu/cgi/viewcontent.cgi?article=2151&context=thesesdissertations
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SEO tips for global marketers

Creating customized website for each international market is a good strategy to start global marketing. Also to increase the visibility of the site, it is time to invest in Search Engine Optimization (SEO) as SEO algorithm are constantly shifting and getting more complicated. Organizations need to prevent their website from getting buried in the sea of competitors' sites. To boost website traffic overseas, organizations need to take customized strategy for each market. Rachel Chilson, marketing communications coordinator at Sajan has given five SEO tips for global marketers and they are

• Know your Customers

• Research key words and phrases

• Adapt your content

• Perform regular testing

• Seek out professional

 

Read more please visit: http://www.marketingprofs.com/articles/2014/24946/five-seo-tips-for-global-marketers

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Solving the information exchange problem in healthcare industry

One of the major areas in healthcare industry which needs reform is information exchange between physicians and home health agencies. Most of the Medicare claim is denied due to missing signatures, insufficient documentation, and inaccurate descriptions. To overcome this difficulty, an organization, H2S (founded in 2013), came up with a new solution. The software automates the patient order management process in order to save time spent by physicians in documentation and decrease accounts receivables for health agencies. This helped health agencies and their referring physicians to send, receive and track patient documents so that providers can be reimbursed for services on time. For more details about the please visit Sramana Mitra's article link: http://smallbiztrends.com/2014/04/information-exchange-problem-in-healthcare.html

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