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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

Importance of analytics

The growing potential of big data should incorporate analytics into its strategy to make better and faster decisions. Businesses can use data and analytics to make better decisions by using granular data. New machine learning has a lot of applications and benefits. Systems enabled by machines can provide better benefits. The technologies could generate productivity gains and an improved quality of life, but they carry the risks associated. Industries are getting greatly influenced by data and analytics, and the effects will become more pronounced when it reaches the masses. Organizations that can harness these capabilities will be able to create significant value and differentiate themselves, whereas other people might not be happy with this. Read more at: http://blogs.economictimes.indiatimes.com/et-citings/managing-analytics/

 

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Listening tools and their uses

We need social listening tools to execute a perfect strategy. Regular social media monitoring is not enough. A social listening tool that informs you whenever your company name is mentioned online and there are many such benefits. Top list of such tools: 1) Brand24: where you can view what people are posting about your company on social media in real-time. You can respond to these comments directly through the Brand24 dashboard. 2) Aware: This is a very effective social listening tool that lets you track real time updates on various websites and track keywords in any language.3) Mention: it too helps to keep track of what people are saying online. Mention provides detailed analytics to help you measure and analyze your results. This includes checking the sentiment impact. The data is presented in the form of easy to understand graphs. Read more at: http://www.socialmediatoday.com/marketing/3-top-social-listening-tools-you-should-use

 

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How to overcome organisational silos

Management's responsibility must be met instead of hierarchical reporting. Organization should be redefined and opportunities must be addressed. Most improvement opportunities are directly related to deficient business processes and organization silos. Without a strong business process structure, it is nearly impossible to improve performance. There are 12 Business Systems in any organization which are a collection of business processes that align to deliver the goals of the system. A business process transforms the input by value addition into the output. All business transactions take place through business processes that connect in a series to form Business Systems. We typically find somewhere between 8-16 business processes per Business System. A key to performance improvement is to tackle the silos created by traditional organization structures. Read more at: http://www.businessmapping.com/blog/eliminate-organization-silos/

 

 

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Cohort analysis and its benefits

The cohort analysis tool can help to dig in deeper which traffic and page views don't allow. The cohort is grouping because of similarities. It's perfect for finding certain things at a glance. But the website keeps changing very often. When those changes happen, it's important to put these metrics in context. Cohort helps by layering on a filter to add context to the data you're looking at. By viewing those segments, one can produce more accurate findings. Also, cohort sorts the data in every way possible. There is a list of factors, one can analyze using this tool. Cohort analysis allow you to view data by segments of people, helps determine changes and facilitates comparison so that the strategy can be set accordingly. Read more at: https://blog.kissmetrics.com/cohort-analysis-google-analytics/

 

 

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Benefits of technology in education

Web technology has greatly impacted education. Following are the ways in which technology can benefit the students. One of the most effective tools students can use to communicate is an infographic which helps to present dense information through graphics. Students might need to create surveys to strengthen the point of a paper they are working on. Here polling comes in handy which helps share to thousands of people throughout the country. Then comes spell check which helps the students concentrate on the important things. Technology now plays an important role in communication, making it a lot easier. Read more at: http://it.toolbox.com/blogs/understanding-crm/the-role-of-information-technology-in-education-76589

 

 

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Customer experience and tech stack up

A long-term customer experience (CX) strategy is built in the entire organization because the strong correlation between customer experience and financial returns is seen. This involves redesigning. The first step to delivering an enhanced customer experience is to bring these various systems and data of customer experience together. Here are some fundamental approaches which need to be further enhanced to building a simple, integrated stack with Contact Center, CRM and e-commerce systems. The first being clean split, contact center systems handle routing and interactions whereas e-commerce and CRM systems bring transaction data and profile/customer journey data. Now the digital divide wherein Contact Center systems and CRM bring in engagement data - Contact Center handles all voice interactions and CRM handles digital interactions whereas e-commerce brings in transaction data. Lastly pragmatic beginning in which CRM is the only system of engagement for limited digital channels, such as email and chat while e-commerce brings in transaction data. Read more at: http://www.incontact.com/blog/tech-stack-deliver-enhanced-customer-experience/

 

 

 

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Need of optimization in planning

Optimization has a range of applications. It is best applied when you're deciding among many alternatives. One of the areas where optimization can have a significant impact is planning. To answer these planning questions, businesses face a series of hurdles. First, they need to assemble the data to get a true picture of their business. Second, evaluate options by exploring trade-offs and asking, "what if" questions. Lastly, identifying the best path forward. Businesses can link data, from across their organization in an environment they know and evaluate possible planning scenarios. Organizations can capture more value in the marketplace by improving operations, save money by managing resources more effectively, and mitigate risk by gaining insight into how decisions can impact their business. The power of optimization, however, isn't in finding a path, it's in finding the right path. Read more at: : http://www.ibmbigdatahub.com/blog/what-optimization-and-how-it-improves-planning-outcomes

 

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