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

Top 3 Six Sigma Myths: Busted!

 

SigmaWay consultants bring a wealth of industry experience and have leveraged Lean, Six Sigma, Process Excellence and Change Leadership techniques to thousands of diverse business problems and have achieved transformational success.Want to know more about Six Sigma?

Learn from SigmaWay Experts:  

 

http://www.gosigmaway.com/our-services/training/lean-six-sigma-green-belt-training-delhi-bangalore.html

 

 

 

Rate this blog entry:
2146 Hits
0 Comments

Implementing Self Service BI? Ask these Questions.

Implementing Self Service BI? Ask these Questions.

Data driven decisions are a must in today’s world. As technological progress is being made every second, the reliance on BI is also increasing. Now people are moving on to Self Service BI. But the question is: Are they making better decisions as a result of it or are they failing in its implementation? 

Daan Pepijn, in his article at cmswire.com has listed down six critical questions that lead you towards right implementation of Self Service BI in your business. These questions are:

1.       Do you have the right data sources?

2.       Do you have the capability to warehouse your data properly?

3.       What analytics solutions do you have on hand?

4.       How well does your BI solution integrate with existing platforms?

5.       Is your reporting mechanism both powerful and easy to understand?

6.       Does your BI solution enable better compliance?

 
Do ask these questions before implementing your BI solution, because, correct implementation has the power to yield an ROI of $10.66 for every dollar spent.

 

To know more, please visit the following link:

http://www.cmswire.com/information-management/essential-building-blocks-of-an-effective-self-service-bi-strategy/

Rate this blog entry:
994 Hits
0 Comments

Advantages of CRM in Healthcare

Advantages of CRM in Healthcare

In the past few decades, Customer Relationship Management (CRM) has evolved and is being implemented in various industries. What used to be typically connected with retail industry, is now projected to reach $17.5 billion by 2025 in healthcare industry. Within this industry, this software benefits in the following areas:

  •         Billing
    CRM software assist in collecting and updating customer payment details, tracking transactions and getting real time insights into payments processing using analytics tools          
  • Outreach
    By getting better access to customer data, CRM users reach out to different segments of customers and also maintain continuous communication with them.
  •          Workflow Automation
    By automating workflows using CRM, customer retention can be increased by 27%.
  •          Data Security
    CRM enhances security by encrypting sensitive information and creating data backups.
  •         Compliance
    Unlawful data fines can be prevented by using CRM to simplify HIPAA and other compliance requirement processes.
  •          Patient Satisfaction
    Patient satisfaction levels can be increased by implementing CRM at each level of interaction with them.

    To know more, please read the following article at insidecrm.com:
    http://it.toolbox.com/blogs/insidecrm/6-crm-benefits-for-healthcare-providers-75202

 

Rate this blog entry:
1708 Hits
0 Comments

Switching to Cloud Made Easy!

The worldwide market for cloud-based SaaS offerings is expected to expand by about 20 percent per year through 2018, when it could exceed the $100 billion mark.

- International Data Corporation (IDC)

In the world of softwares, cloud is becoming the next big thing. Companies are now switching to cloud based delivery models. But that is not an easy task. For this a number of factors need to be considered like:

  • The process by which new products are developed and old products are reconfigured for the cloud
  • The ways companies should manage customer relationships
  • The pace at which product-development teams should operate
  • Companies’ tolerance of failure
  • The degree to which companies are willing to invest in new technologies and capabilities

Keeping these factors in mind, Santiago Comella-Dorda, Chandra Gnanasambandam and Bhavik Shah, have listed out six principles that will help companies to make an easy shift towards cloud. They are:

  1. Emphasize minimum viable products rather than ‘big bang’ releases
  2. Treat users as part of the day-to-day development team
  3. Expect and tolerate failure
  4. Adopt agile approaches to software development
  5. Give developers quality-assurance and testing responsibility
  6. Invest in cutting-edge capabilities

To know more, please read the following article at McKinsey Insights:

http://www.mckinsey.com/insights/business_technology/from_box_to_cloud

Rate this blog entry:
3120 Hits
0 Comments

Employee Satisfaction: The Key to Customer Satisfaction

Most of us must have heard these sayings – “Customer is the King” or “Customer Satisfaction should be the Top Priority”. We surely focus on satisfying customers but, what we sometimes fail to remember is the fact that the route to customer satisfaction goes via employee satisfaction. Thus, essentially, employee satisfaction should be considered as “the key focus area” for any organization.

Satisfied and loyal long term employees are an asset for the organizations. One way of enhancing employee satisfaction and thus customer satisfaction is by creating a digital workplace with intranet as its hub. Kevin Conroy, Founder and President of Blue Rooster, in his article at cmswire.com, has talked about the importance of employee satisfaction and has also listed out few steps that need to be taken before creating intranet for the organization. They are:

  • Talk to employees
  • Consider the user experience
  • Map the top priority use cases and how they affect customers
  • Define metrics
  • Build an employee and customer-centric culture

So, creating a digital workplace with an enthusiastic consent of employees will eventually lead to gain of customers for life.

To know more, please visit the following link:

http://www.cmswire.com/social-business/creating-employees-for-life/

Rate this blog entry:
2639 Hits
0 Comments

Guiding Rules for Organizational Redesign

In the past two years, many organizations have undergone a complete change in terms of their organizational structure. Disruptive innovations have led these changes. But, not all these changes have been successful. In fact, many organizations have even undergone through such drastic changes more than once in search of a perfect organizational structure.

But, why is this perfect organizational structure important and how can it be achieved? These questions have been answered by Steven Aronowitz, Aaron De Smet, and Deirdre McGinty in their article at McKinsey Insights. With their research, they have identified nine golden rules that must be followed for a successful organizational redesign. Some of them are:

  • Focus first on the longer-term strategic aspirations
  • Be structured about selecting the right blueprint
  • Be rigorous about drafting in talent
  • Establish metrics that measure short- and long-term success
  • Manage the transitional risks

To know more, please visit the following link:

http://www.mckinsey.com/insights/organization/getting_organizational_redesign_right

Rate this blog entry:
2314 Hits
0 Comments
Featured

Project Management: Past, Present and Future

pm_1

The field of project management has evolved a lot over time. From the days of Egyptian pyramids to today where projects are remotely managed, a lot has changed.

During this period, three major project management methodologies have emerged. They are:

  1. Waterfall
  2. Agile
  3. Scrum

Of these, agile methodologies are seen as the future of project management. This is because of the following advantages that this methodology provides:

  • Faster ROI
  • Lower risks
  • More transparency
  • Lower defect density
  • Stronger and better visibility
  • Higher customer satisfaction

With the increasing importance of project management, the demand for a successful project manager is expected to rise.

To know more about the future of project management and what is expected of a successful project manager, please read the following article by Jenny Beswick at business2community.com:

http://www.business2community.com/leadership/project-management-evolving-01237110

Rate this blog entry:
4752 Hits
0 Comments
Featured

Agile Service Oriented WEM

The world of Web Experience Management has come a long way. Starting from traditional, brochure-ware, static web content management to a now more efficient – agile service - oriented web experience management platform. With the help of this platform, we can get the following benefits:

  • Ability to mix content management with line-of-business applications and existing customer data
  • Be prepared for all the changes occurring in this dynamic world

To avail these benefits and while considering an agile or content-services approach, firms look for the following capabilities:

  • Decoupled Architecture
  • Agile Deployment Model
  • External Preview
  • Structured Content
  • NoSQL Database

To know more, please read the following article by David Hillis, VP, Business Development, Ingeniux at cmswire.com:

http://www.cmswire.com/customer-experience/agile-web-experience-management-content-as-a-service/

Rate this blog entry:
5349 Hits
0 Comments

CPG Sector: Growth and Expansion Opportunities

The global consumer packaged goods sector is expected to double by 2025. This growth has especially been observed in BRIC countries (Brazil, Russia, India and China). Along with growth, competition has also increased in these countries, which has led to companies looking for expansion avenues elsewhere.

An analysis by McKinsey has revealed three myths surrounding the growth in the Consumer Packaged Goods (CPG) sector. They are:

  • The United States isn’t a growth market
  • It’s too late to enter China or India
  • Emerging-market consumers don’t buy premium products

These myths need to be discarded as they are certainly not true. And for better growth opportunities in this sector, Rogerio Hirose, Renata Maia, Anne Martinez and Alexander Thiel, in their article at McKinsey Insights have listed out few questions that companies need to answer before entering new cities.

To know more about these myths and the above mentioned questions, please visit the following link:

http://www.mckinsey.com/insights/consumer_and_retail/three_myths_about_growth_in_consumer_packaged_goods

Rate this blog entry:
1836 Hits
0 Comments

Manage Information Security at Digital Workplace

Digital workplace is the new norm today. We don’t do our work at one place today or on only one device. We carry our work with us as we move by transferring it to the device that’s most accessible. Smartphones, laptops, desktops, tablets etc. are some of the devices where ore work is saved. This is called Enterprise Mobility. But, with the increase in enterprise mobility, security has again become a big problem.

Dionisio Zumerle, Research Director, Gartner, has pointed out three key factors that need to be addressed to bridge the gap between enterprise mobility and effective security for business information. They are:

  • People
  • Process
  • Technology

Thus, efforts need to be focused on developing information security models applicable for this multiple device systems while keeping in mind the above stated factors.

To know more, please read the following article at Forbes:

http://www.forbes.com/sites/gartnergroup/2015/06/10/mobile-security-challenges-in-the-age-of-digital-business/

Rate this blog entry:
2408 Hits
0 Comments

Self Management: A Change in Management?

In Gary Hamel's book, The Future of Management, “Self Management” was described innovative efforts to enable employees to define their own jobs and shape their work at companies

Self Management is not a new concept in management, but not a widely used concept. It has been there since long. Many big companies like Taco Bell, Google, Whole Foods Market, W. L. Gore & Associates, Inc., etc have applied this concept and yielded great results like:

  • Increase in productivity
  • Motivation of employees

Making Innovation Everyone’s Job” has been the motto of this concept. This concept has now again come into picture with Zappos, trying to apply it in its organization culture. Resistance is there, but will Zappos get the same results like Taco Bell did or will it not be able to sustain this concept in its organization for long- this only time will tell.

But, after being brought into spotlight again, this concept surely reminds managers a different way of managing things, that was thought to be lost in oblivion.

To know more about this concept and its benefits, please read the following article by Professor James Heskett at HBS Working Knowledge:

http://hbswk.hbs.edu/item/7531.html

Rate this blog entry:
1568 Hits
0 Comments

Keep Your Business Updated with these Social Media Stats

Social media is the key to this digital world. It is the easiest means to connect with stakeholders, market your brand and build relationship with customers. Also, as the time progresses, the social media trends, innovations and challenges are also progressing. Each new day brings new opportunities. So, being updated of the current trends helps businesses to respond dynamically.

Brittney Ervin has made a list of 10 current social media stats that businesses today need to know, in her article at business2community.com. Some of them are:

  • Instagram’s Per-Follower Brand Engagement Rate is 4.21%, Higher than Any Other Social Network
  • Tweets with Images Receive 150% more Re-Tweets
  • 53% of Americans Who Follow Brands in Social Are More Loyal to Those Brands
  • 37% of Twitter Users Are Under the Age of 30
  • Google+ Has Over 300 Million Active Monthly Users

To know more such trends and understand how to make use of them, please visit the following link:

http://www.business2community.com/social-media/10-social-media-stats-you-might-not-know-but-should-01245250

Rate this blog entry:
1923 Hits
0 Comments

Asia M2M IoT Business Platform 2015: Key Themes

While, IoT revolution is taking place all over the world, there are still some points that need to be taken into consideration to increase its use. One such point is its use in South East Asia.

Recently, Asia M2M IoT Business Platform 2015 conference was conducted in Bangkok, which focused on this issue. Although mobile technology adoption rate is very high in this subcontinent, people’s response to other new technologies is not that much. They are hesitant towards new technology.

Dana Blouin, Researcher at SIIT, who had attended this conference as a speaker, has listed down key themes discussed there. They are:

  • Erratic Adoption
  • Use What Customers Know
  • The Value of the Smartphone

These points need to be kept in mind to make IoT, a more common phenomenon.

To know more, please read the following article at cmswire.com:

http://www.cmswire.com/internet-of-things/how-to-put-the-iot-in-the-hands-of-your-customers/

Rate this blog entry:
2353 Hits
0 Comments

IoT Revolution: Insights

According to Bart Schouw, Director of IBO Solutions for Germany-based Software AG:

The Internet of Things is a revolution. There will be serious threats to those who are not prepared and profitable opportunities for those who are issues such as security and governance will need to be addressed as IoT begins to impact more and more of our daily lives.”

In his report, eight insights on IoT are listed, that must be taken into consideration. Some of them are:

  • Don’t Gamble
  • Tap Analytics
  • Pay-As-You-Go
  • Expect More Regulation

To know more, please read this interesting article by David Roe, at cmswire.com:

http://www.cmswire.com/internet-of-things/the-iot-challenge-make-use-of-the-data/

Rate this blog entry:
2280 Hits
0 Comments

Cyber Liability Insurance: A Solution to Cyber Security Breaches

Cyber security breaches have become common these days. Be it a large company or a small firm all seem to be vulnerable to this risk. So, the question that disturbs these organizations where data is the biggest asset is – What steps should we take to protect from such security breaches?

Matt Cullina, CEO of IDT911, gives a simple answer to this big question – Cyber Liability Insurance and provides following advice on this topic:

  • Yes, you need cyber-liability insurance
  • But probably not a cyber-liability policy
  • You need less coverage than you think
  • You'll pay less for it than you'd expect
  • Knowledge is more valuable than cash

To understand these in detail and know more about Cyber Liability Insurance, please read the following article byMinda Zetlin, Co-author, 'The Geek Gap', at inc.com:

http://www.inc.com/minda-zetlin/5-surprising-things-you-need-to-know-about-cyber-liability-insurance.html

Rate this blog entry:
2425 Hits
0 Comments

IoT + Supply Chain: Scope for Vast Opportunities

Internet of Things has taken the world with a storm. It has delivered opportunities to almost every industry and function. Supply chain is not an exception to this. With the increasing number of online businesses, the importance of this function of management has increased multifold. Combining internet of things with this has introduced us to a vast expanse of opportunities and made the supply chain smarter.

Maha Muzumdar, in his article at Industry Week has shared a list of supply chain opportunities that companies can exploit by leveraging IoT technology. They are:

  • Better Predictability of Demand & Inventory Visibility
  • Better Tracking & Efficiency
  • Accelerated Innovation & Product Support
  • Improved Alignment & Collaboration
  • Sustainability & Quality

He has also stressed upon the fact that supply chain executives must adapt IoT in their processes as soon as possible to gain its maximum benefits.

To know more, please visit the following link:

http://www.industryweek.com/supply-chain/internet-things-iot-opportunities-smarter-supply-chains?page=1

Rate this blog entry:
2278 Hits
0 Comments

Tech Guidelines for Insurance

Like any other industry today, technology has become a must have feature of insurance industry. It not only adds value to the business, but also acts as a differentiating factor that provides competitive advantage to insurance companies. The better you make use of this valuable resource, the higher you stand on the competition ladder.

Anand Vyas, Head, Banking, Financial Services and Insurance, SQS Software Features, in his article at itproportal.com, has shared 5 best practice guidelines to ensure the technology is ultimately meeting the business need. They are:

1. Understand demand and business requirements

2. Create a strategic roadmap and business case

3. Analyze applications and business capabilities

4. Adopt a risk-based testing approach to implementation

5. Take an agile approach

To understand them in detail, please visit the following link:

http://www.itproportal.com/2015/06/08/technology-is-the-key-to-the-insurance-sector-and-heres-why/

Rate this blog entry:
2718 Hits
0 Comments

Telematics: The Future of Vehicle Insurance

Technology + Informatics = Telematics

Vehicle telematics has been in existence since long. But, its use in our daily lives is a recent phenomenon and this concept is still in its development stage.

In last few years, insurance companies have banked upon this concept to know more about the driving habits of their customers and charge premiums accordingly. Craig Thomas, Managing Director, Redline Content Ltd, in his article at express.co.uk has explained the concept of insurance telematics and has also answered questions such as how it works, what are its advantages, etc.

According to him, the insurance companies install black box in their customers’ cars and monitor their driving. The better the driver, the lesser is the insurance premium charged and vice- versa. Apart from this, telematics insurance also has following benefits like:

  • Helps determine liability
  • Reduces instances of fraud
  • Alerts the insurer in case of emergency and thus, helps in providing timely emergency services
  • Helps customers in improving their driving skills

Although it’s an interesting concept, but still, people are apprehensive in trying it out, especially rash drivers. Nevertheless, insurance companies are tying up with car manufacturing companies to make this type of insurance a usual phenomenon, because of its benefits to all the parties involved.

To know more, please visit the following link:

http://www.express.co.uk/life-style/cars/581418/insurance-telematics-cars

Rate this blog entry:
2473 Hits
0 Comments

Hybrid Cloud: What and Why?

Cloud technology has developed a lot in the past few years. After years of improvement in this space, hybrid cloud is the latest innovation in this field. Businesses are now being recommended to use hybrid cloud computing models.

But before implementing them, businesses need answers to few questions like what is hybrid computing? How is it beneficial for them?

Vivek Vahie, Senior Director, Navisite India, has answered these questions in the simplest form in his article at betanews.com. According to him:

“Hybrid cloud is any combination of public and private computing combined with existing on-premise infrastructure which is tailored to fit each individual business’ needs.”

He has shared following points in answer to the why question:

  • More flexibility and control
  • Helps find the balance between their in-house IT infrastructure and public cloud services.
  • Potential cost savings
  • Scalability and agility

Though there are problems in implementing hybrid cloud models like compatibility and security issues, still, it offers a bundle of vast opportunities.

To know more, please visit the following link:

http://betanews.com/2015/05/22/why-businesses-should-embrace-the-hybrid-cloud/

Rate this blog entry:
2590 Hits
0 Comments

Reasons behind Big Data Discrepancies

Big Data is growing bigger and bigger every day.

But, as it is growing, it is also becoming more complex. And complexities usually lead to discrepancies in interpretation of same information. As it is said that, Prevention is better than cure. Similarly, identifying these discrepancies and the reasons behind them at an early stage is better than allowing them to become a bigger problem.

Lisa Morgan, Freelance Writer, in her presentation at Information Week, has pointed out six major causes behind big data discrepancies. They are:

  • Same Data, Different Quality
  • Data-Cleansing Issues
  • Problems with the Algorithm
  • Models Differ
  • Model Complexity Differs
  • Interpretations Differ

To understand them in detail, please visit the following link:

http://www.informationweek.com/big-data/big-data-analytics/6-causes-of-big-data-discrepancies/d/d-id/1320692

Rate this blog entry:
2520 Hits
0 Comments
Sign up for our newsletter

Follow us