SigmaWay Blog

Big Data is massive. This article will explore the issues of big data: what it is, how it will improve decision - making, and how to use it correctly.

1) What's the big deal about big data?

Big data is all about three "V's" Velocity, Volume and Variety.

2) How it will improve decision?

# Deliver customer insights.

# Deliver targeted communication.

# optimize performance.

3) How to use it correctly?

# Collect data.

# Clean Data.

# Merge Datasets.

# Analyze Data.

To learn more about big data follow the article by Angela Hausman (PhD) at: http://www.business2community.com/big-data/big-data-like-teenage--01458960

It is the very beginning of the robotic revolution. The progress in this field is set to increase its pace. So this instills a fear what if these AI models grow smarter than those who created them. With AI applications covering up all your works, what is the purpose that it might leave you? The use of AI is growing fast in all the sectors. It is helping in improving the human living standards. There is a gap between the computers and human beings. But the upcoming AI models are focused to remove this gap. This will make computer - human interaction more like human like interaction. Read more about it in the article written by Damon Beres(Senior Tech Editor, The Huffington Post) at: http://www.huffingtonpost.com/entry/artificial-intelligence-mit-tech-conference_us_56cb20ade4b0928f5a6c7463?section=india

It seems that the long winter of AI has come to an end and this field is enjoying the unstoppable progress in the spring stage. But the only way AI becomes more powerful is by getting fed with a tremendous amount of data. More the data, better the efficiency of the AI algorithms. Seeing the helpful uses of such AI based applications the users happily allow the access to any kind of data. In the coming times, there will be applications which would demand access to every kind of data you generate. And the truth is we will willingly submit our data. Because bigger the data sets are, smarter the AI. The major reason for feeding the AI algorithms is that is improving and helping the human life. Read more about it in the article written by Mike Elgan (author of  technology and tech culture) at: http://www.computerworld.com/article/3035595/emerging-technology/artificial-intelligence-needs-your-data-all-of-it.html

To get the raw data, processed through the Artificial Intelligence models, the data has to be uploaded on a cloud. But there are privacy issues or time wastage in uploading data on cloud and retrieving back. Internet connection is a must. So to eradicate these problems, researchers have developed a chip that could bring AI to the hardware like smart phones, sensors or other mobile devices. These have very large neural networks, which can process data then and there. This means without having access to Wi-Fi or other connections, users can get meaningful insights rather than just the raw collected data. This technology will be of great help in the field of Internet of Things. To know more, follow: http://electronicdesign.com/iot/artificial-intelligence-gets-its-head-out-cloud

Big data analytics can analyze the past behavioral data of humans. It is highly correlated to future outcomes.  The most important task is to understand how much emotional extent can be predicted accurately. By analyzing critical reasoning and judgmental decision, there will be higher chances to predict more efficient human behavior. Social media plays an important part by providing more sensitive data having higher emotional quotient. Search dynamics also help to predict future trends. Therefore, combining big data, transaction data and social data along with shopping behavioral data opens a new horizon which enables marketers to influence human behaviors and perceptions. To read, follow: : http://www.forbes.com/sites/forbesinsights/2016/02/02/has-big-data-taken-the-human-out-of-human-behavior/#2280493b170c 

Cyber securities are becoming a concern even for small enterprises today. Enterprises are investing a lot of money to resolve this issue. Here are three themes that can affect banks, small business and the economy-: 1. Tackling Evolving Cyber Security Risks - Small businesses are the most credulous target for the cyber attackers. They should keep data private, check the bank account regularly, develop enforceable security policies & protocols, and participate in action plans so that employees know what to do at the time of the rift. 2. Prioritizing Small Business Growth in a Post-Crisis Era -  Small business needs to raise their interest rates as expected the Federal Reserve increased rates by 25 basis points on Dec16 for more competition & structure plans to secure funding for future growth.
3. Continuing to Play by the Rules -  The regulatory environment will have to keep expanding its range. Growth comes the unavoidable growing points, as banks, and business deals with high regulated, low interest rate for more competition, more partnership and more technology.
To know more, please read the article by Frank Sorrentino (contributor in Forbes): http://www.forbes.com/sites/franksorrentino/2016/01/12/cyber-security-small-business-and-the-2015-trends-that-will-matter-more-in-2016/#761765904708

Sporting events are increasingly depending on cloud computing. From cloud based mobile apps, followers can enhance their experience, ascertain the future value of trading an individual player and find out an athlete's momentum in real time by using predictive analytics. The cloud has revolutionized professional broadcasting by eliminating the risk of upfront IT investment, cutting off enormous resources needed to deploy traditional data centers. To know more, please read the article by Ben Rossi ( Content writer at Information Age )-:  http://www.information-age.com/technology/cloud-and-virtualisation/123460174/why-future-sports-cloud

Artificial Intelligence is used to generate intelligent behaviors in gaming, to simulate the human behavior. But to make the experience more natural it is required that the artificial intelligence based players in the game must imitate the human behavior. That means they also must be prone to errors and mistakes. This is the real challenge in gaming for AI. AI models remember the patterns, so this avoids repetition of mistakes. Humans can lie very easily at every step. This is a complex phenomenon for the AI models. So this is what computer engineers are working on to make games with AI appear more natural. Read more at: https://www.newscientist.com/article/2078134-cleverness-isnt-everything-for-a-gaming-artificial-intelligence/

Data analytics are the most essential part of any organization these days and requires efficient personnel having a greater skill set in data science. But, there is not enough parity between demand and supply. According to a recent study, it was found that there is demand for computer programmers with a background in data analytics, but out of the 332,000 computer programmers in America, only 4% had the necessary skill sets. So to bridge the gap, the online training method can be a helpful process and is flexible and this in turn enhances productivity. This is a continuous process of development and helps to figure out new talent within the organization. But all these processes can only be possible if colleges and universities encourage their student to learn data science and master in those skillet.

To read, follow:  :  http://www.cio.com/article/3033887/careers-staffing/can-online-training-bridge-the-big-data-skills-gap.html

Augmented reality or AR is the ability to insert and overlay digital data & virtual information and now it is being used for archaeological work and research. AR allows students, research scholars and professional to access the artifacts and collections with accurate details and measurement. It also helps to preserve the artifacts since they have the constraint of physical contact. To know more, please read the article by Jennifer Shin (Writer at Augment) -: http://www.augment.com/blog/visualizing-the-past-pioneering-technology-in-archaeology/

Investment in shares requires analysis of huge historical data. Analysis is the primary phase and it forecasts the future investment process. Broking house plays a clinical role in this context and charges a percentage of hike in shares. But these days such information is frequently available in different websites and are updated on a regular basis. The usage of technology for predictive analysis is hugely correlated with big data. These are limited to institutional buyers. The automation in predictive analysis requires a huge precision which is cost effective, but its implementation could be a game changer.

To read, follow: http://www.thehindubusinessline.com/markets/stock-markets/big-data-robo-analytics-to-drive-next-phase-of-growth/article8249330.ece

Any decision pertaining to designing products, environments and brand experience is closely connected to the use of colour because it depends on the buying behaviour of customers, brand perception, strategic differentiation, and user experience. But availability of information related to colour perception is limited. Organizations are using big data to analyse colour preference and perception which contains over a 100 years of data. They divided their study into four categories regarding colour data, analytic and insight:

1. Colour competitive intelligence is relevant for aggressive in brand competition.

2. Colour legal intelligence helps to identify the colour norms available to different countries.

3. Colour Research Intelligence collates colour studies that have been conducted over the past century, world-wide, about the industry and product segments.

4. Colour listening intelligence signifies how much buzz about a particular colour is popular in the market.

These all studies benefit other companies by creating their own colour mix to attract new customers, branding and dictate consumer preference trends.

To read, follow: http://www.forbes.com/sites/michellegreenwald/2016/02/17/a-new-comprehensive-4-in-1-big-data-resource-to-aid-color-innovation/#6e729df04012

The intelligence exhibited by machines is called artificial intelligence (AI). To a layman this field is full of mystery. But AI is embedded is many things that often go unnoticed. Organizations are using AI to make the consumer experience better. So, you are no longer cluttered with irrelevant ads. The recommendations on the social media platforms are the result of machine learning and artificial intelligence models. There are smart entertainment apps that learn from your behavior and choose what is best suited for you. To read more follow:   http://insidebigdata.com/2016/02/12/why-consumers-need-to-stop-fearing-artificial-intelligence/

We use the internet every day to access social media. We perform many tasks using the internet believing that it is safe, but it is not so. Sometimes, we neglect the security and preventative measures. To prevent cybercrimes, there are some tips that can be followed. They are: • Constantly update passwords and log in details.

• Use encryption for important files

• By activating the built-in security feature we can avoid any access to personal details in our mobile devices.

• Always think before clicking on a link or file of unknown origin .Everyone must check the source of the message.

To read visit on:  http://www.forbes.com/sites/forbestechcouncil/2016/02/09/eight-proven-strategies-to-deal-with-cybercrime/#2307b2d1258c

Design thinking is at the top of mind for business teams of big giants as well as startups. The traditional "If you build it, they will come," mentality has been taken from techniques like customer journey mapping and empathy-driven prototyping. Many companies are unsure how to implement it to improve their business - especially in areas like data analytics and decision sciences. The first step is to ask:  for whom are we designing and what is the problem they are experiencing? The second: to what end are we modeling the design - to boost consumption and engagement, improve performance, or to achieve scale? These same needs to be asked at the outset of any analytics effort. Here are five simple steps that are key to infusing analytics with a designer mindset.

1) Create a design framework that allows you to fail fast.

2) Empathize with your customer to impart emotion into your product.

3) Focus on problem-solving that allows for rapid experimentation.

4) Employ methods to inspire creative brainstorming across teams.

5) To design the killer solution, let nature be your guide.  

To read more visit at:  http://www.datanami.com/2016/02/16/what-design-thinking-means-for-data-analytics/

Every company wants happy and healthy employees and for better operations, it is way more than just productivity. As fit employees are happy and healthier, many companies have corporate wellness programs. But involving employees to participate in such activities is a real challenge for HR officials. Thanks to technology, corporates have fitness wearable devices for employees and Fitbit is the market leader in this category. It has revolutionaries the wellness programs by adding a social and competitive component. Not only fitness, but it is improving the work environment in companies also. It is economical for corporate as there are company-specific online storefronts where companies can get subsidized Fitbit as per their needs. Read more about this in the article written by Sarah K. white (Senior Writer) at -: http://www.cio.com/article/2980242/wearable-technology/how-hr-uses-fitness-trackers-to-increase-company-wellness.html 

Companies which have process manufacturing as an activity to do on their list, face potential challenges with ERP. Process manufacturers need highly customized ERP packages as every process has its own special features. If the ERP package that you choose doesn't have all the functionalities to handle your needs and wants, then it can result in an expensive customization which will result in a significant hike in your costs. Traceability is a very important aspect as well. Manufacturing ERP systems need to be robust for effective tracking. Documentation is another important factor which should be kept in mind. In addition to this, process manufacturing ERP must have features for quality assurance and quality management. Read the complete article at - http://it.toolbox.com/blogs/inside-erp/process-manufacturing-erp-71400

The major basis of all the enterprise lies on IT system and services. What will happen if there is a major shutdown in IT section? The solution does not lie on the questions whom to contact or how to fix! But a well prepared process may lead to quick remedy. According to columnist Gene Rogers we can follow eight easy steps to manage:

1.How much time should be taken to manage the crisis so that the sudden shut down do not disturb your business model, revenue generation, customer loyalty and HR system.

2. Prepare a quick action team with at least one primary and secondary back up in each service area.

3. Create a crisis checklist where we can anticipate any upcoming issues.

4. Create predefined templates as email, text message to facilitate the process faster and smarter.

5. Devise an automated alert mechanism.

6. Separate conference line for tech staffs and business personnel to facilitate the smooth crisis management situation.

7. Create a script for the conference line to keep order.

8. Practice in regular basis to stay updated and ready for any situation.

To read, follow: http://www.sixsigmaiq.com/pex-tools-technologies/columns/are-you-ready-for-a-major-it-outage/

Staying up to date with technology is essential. It can determine the success and failure of the business. Technology plays an important role in following ways –

·         Online Presence: Starting or running a business is simply not possible today without an online presence. An effective digital marketing strategy can help immensely in increasing brand awareness.

·         Marketing Strategies: To land more people on your website, you will need content marketing techniques and email outreach campaigns. Moreover a good PPC campaign can help in targeting the right customers without spending too much on marketing.

·         Stay up to date with available technology: Always be equipped with the latest hardware and software in the market to increase your speed and productivity.

·         Stay up to date with software solutions: Solution like cloud computing will save your data online which can be accessed from anywhere at any time.

Read the complete article here: : http://it.toolbox.com/blogs/marketing-strategies/improve-your-business-by-adapting-to-modern-technologies-71423

The stability of financial services in Asia is at stake because of the growing threat of cyber crime. The challenge is the high cost of defending mechanism against low cost cyber-attack ($1million/$1000). These attacks fuels the expansion of the cyber security market with a CAGR of 14.1%, which will be worth $33 million by 2019. Major drivers could be. 1. Financial gain through theft of money or information.  2. Politically motivated attack. And 3. Destructive attack to core business.  Unfortunately, financial sectors in the Middle East and Asia are mostly threatened by cyber threat. So to combat this crime, there must be a community defense model, i.e. sharing of cyber threat info among Financial institutions in an effort to identify and block attacks which are already initiated by US and European companies and followed by Hong Kong, Singapore, Japan & Australia. To read, follow:  http://www.scmp.com/comment/insight-opinion/article/1912324/asias-financial-services-industry-must-unite-against-threat