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

Big Data Integration for Advanced Analytics 

Modern needs of Big data consumption require data integration before data actually hit the business intelligence tools. This includes leveraging complex and unstructured data and enables raw data to flow securely through business. Today, even the smallest companies produce huge amount of data across systems which need to communicate with each other and therefore requires a platform to pipe all these data sources into Data Lakes.

Read more at: http://www.dataversity.net/dont-put-cart-horse-comes-big-data/

Rate this blog entry:
929 Hits
0 Comments

Analyzing The B2B Companies

Many companies, over the years, have made significant investments, from data warehouses to analytics programs and have pursued the promised benefits of big data and advanced analytics. Data-analytics investments significantly increased value-added or operating profits, the simple revenue impact for consumer companies was considerably lower. The time frame of the analysis is important, since broader performance improvements from large-scale investments in data-analytics talent often don’t appear right away. B2B companies appear to confirm the intuition of executives struggling to uncover simple performance correlations. Read more at: http://www.mckinsey.com/industries/high-tech/our-insights/big-data-getting-a-better-read-on-performance

 

Rate this blog entry:
1121 Hits
0 Comments

B2B buyer expectations changed with advanced analytics

As a result of increased e-commerce in B2B and the general availability of data on the Internet, B2B pricing and product information is easier to find. Buyers have more information than before to have relevant and convenient product and pricing. To meet these assumptions, B2B companies are leveraging advanced analytics. Analytics can help companies to customize buying experiences through commerce channels. It also provides sales reps about what customers are likely to purchase and what prices make sense to quote in the context of the deal. Read more at : http://data-informed.com/how-advanced-analytics-is-changing-b2b-buyer-expectations/

 

Rate this blog entry:
1120 Hits
0 Comments

Advanced analytics: playing a major role in retail

Advanced analytics is the procedure by which associations can make an interpretation of information. Retailers now can join their information together, i.e. From organizing information to unstructured information, to the in - store checking of client conduct, to outside elements and inspect it in insightful approaches to discover examples, estimate and make forecasts, and let you know how to tackle an issue. Read more at: http://enterprise.microsoft.com/en-us/industries/retail-and-consumer-goods/advanced-analytics-the-most-promising-trend-in-retail/

Rate this blog entry:
924 Hits
0 Comments

How Internet of Things Is Transforming Supply Chain Management

For any business, the impact of the IoT is a lot greater. The supply chain for most companies is not the hottest area of operations. When products are not properly shipped, when things go wrong that they pay attention to the people who run the supply chain. IoT is also transforming the supply chain. David Gillman (an analyst with Studio B.), writes about how it is transforming supply chain management. They are: Real-Time Tacking; Faster and Better Information; More Accurate Planning; Advanced Analytics; and IoT into the Future. Read more at: http://it.toolbox.com/blogs/inside-erp/5-ways-the-internet-of-things-is-transforming-supply-chain-management-69666

 

 

Rate this blog entry:
1868 Hits
0 Comments

Analytics in Retail

Like others, retailers also require advanced analytics to compete in the digitalized marketplace. With the expansion of Internet of Things (IoT), the effect of multichannel retailers will increase as they will start using advanced analytics. Advanced analytics, the analysis of data kinds using sophisticated quantitative methods that produce insights unlike the traditional approaches to business intelligence (BI).  These advanced analytics tools put information in the hands of business analysts and business users offering significant potential to create business value and competitive advantage. The need to improve real-time business decision-making will force retailers to acquire self-service and big data discovery capabilities. Read more at: http://www.analytics-magazine.org/special-articles/1352-retailers-need-advanced-analytics-to-compete-in-the-digitalized-marketplace

Rate this blog entry:
2068 Hits
0 Comments

Big Data shapes Loyalty Programs

A loyalty program is less about points and rewards and while these perks might attract consumers, they don’t suggest a sense of loyalty. In this age of data, the focus of these programs should be collection of useful data to help maintain good relations which benefit both consumers and the brand. However a business that trusts consumer-provided data is a business making decisions based on what is untrustworthy, random information. From observation of customer activities and external data sources, advanced analytics can create a profile of the customer for precise segmentation of the customer base. Business analysts and data scientists agree that expanding the data for any given model will typically produce dramatic improvements in analysis. That’s why many organizations have turned to a Big Data solution. Read more at: http://www.smartdatacollective.com/davemendle/323701/redefining-loyalty-programs-big-data-hadoop

Rate this blog entry:
1935 Hits
0 Comments

Four big changes in IoT analytics

The future of analytics seems to be brighter with IoT data, it's near real speed analysis and complex event processing systems. But, where exactly is IoT analytics going. Michael Hummel, co-founder and CTO of ParStream, talks future of IoT analytics. Daniel Gutierrez has summarized his talks in an article on Inside BigData highlighting the 4 predictions Michael made:

• Big data, fast data and more analytics

• Horizontal integration and vertical application 

• Decentralization

• Integration of advanced analytics and Machine learning

For more on this piece, follow the link http://insidebigdata.com/2015/05/28/and-this-is-the-future-of-iot-analytics/

Rate this blog entry:
1518 Hits
0 Comments

AAA: Advanced Analytics Applications

Advanced analytics is considered as a game changer in all industries today. The benefits received from its application are tremendous. These benefits can also give the user firms – a competitive advantage- which further gives them a lead in their industry. Gavin Seewooruttun, in his article at abc.net, has listed five top applications of advanced analytics, that will prove to be a winning element for its users. They are:

  • Gaining the whole customer view
  • Customer micro targeting: upselling and cross selling
  • Customer micro targeting: acquisition and churn management
  • Customer micro targeting: value addition
  • Proactive maintenance

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

http://www.abc.net.au/technology/articles/2015/06/04/4248646.htm

Rate this blog entry:
2628 Hits
0 Comments

Analytics: Improving Production Efficiency

Optimizing production for manufacturers with complex operations is not an easy task. There can be volatility in costs and prices, managing multiple plants and figuring out the combination of inputs for products are complex operations. These complexities are abundant in the chemical industry. Advanced data modelling and analytical techniques have helped this industry perform better. Data about companies’ performances can be put into a mathematical model which predicts production under different conditions. The resulting model brought sea changes in the companies’ production decisions, increased plants’ EBIT returns and production capacity. This change was not without a side benefit: better cross-unit collaboration and decisions were made with all constraints and trade-offs in mind. Read more at: http://www.mckinsey.com/insights/operations/taming_manufacturing_complexity_with_advanced_analytics

 

 

Rate this blog entry:
1640 Hits
0 Comments

Crime analytics in restraining illegal drugs

The present day drug traffickers are very proficient in using modern technology, manipulating it for obtaining new marketing opportunities for their drugs. These criminals are using digital networking to a large extent for distributional purposes via secure methods, provided by modern day technology, which go undetected.  Often investigators fail to identify the disturbance they must be looking for, whose data lies well concealed under suitable digital protection. Advanced crime analytics incorporates big data and advanced analytics along with crime science study to detect anomalies, often their sources and the associated people. Advanced crime analytics is also essential in controlling cross-border drug trafficking by not only protecting witness details but also speeding up the entire process. To know more follow the article by Craig Richardson (chief executive of the Wynyard Group) at:

http://www.canberratimes.com.au/comment/crime-analytics-software-proves-powerful-weapon-in-war-on-drugs-20150414-1mkp6r.html

Rate this blog entry:
2173 Hits
0 Comments

Analytics: Enriching customer experience

Instincts, intuition and creativity are invaluable when it comes to customers, but they cannot paint the whole picture. A solid grasp of data and analytics is required along with them to make a mark in the market. For example, logic does not come out as a winner when deciding loyalty but data and applied analytics tells us a different story. Results though counter intuition sometimes provide important insight which helps develop the marketing strategies. Advanced analytics ventures into the field of correlation and converts guesswork into evidence-based decisions. Advanced analytics also improves customer experience.  Sometimes it does not completely rely on intuitive results, deviates from it but helps to validate targeted campaigns.  To know more please follow the link:http://www.cmswire.com/cms/digital-marketing/they-love-me-they-love-me-not-data-analytics-can-tell-you-029247.php

Rate this blog entry:
1924 Hits
0 Comments

We are being productised and sold to anyone

There is no privacy in the era of big data. Personal data is collected and traded and there are few ways to control it. "We're being monetized in essence. We are being mobilized as products with inducement of the services of we use such as Facebook and Twitter" says Rob Livingstone, a fellow of the University of Technology and the Head of a Business Advisory Firm. However, major problem that regulators are facing is - how they can regulate the collection, storage and trading of personal data on the internet, when all of these activities, and corporations, operate across multiple continents and jurisdictions. Read more at: http://analytics.theiegroup.com/article/53a4371c3723a8398400014e/Little-Privacy-In-The-Age-Of-Big-Data

Rate this blog entry:
3005 Hits
0 Comments

How Can Companies Embrace The IoT?

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

Rate this blog entry:
2761 Hits
0 Comments

Advanced Marketing Analytics for CEOs: Cheat sheet

As businesses are becoming tougher and becoming more competitive, usage of advanced analytics is on rise. With the help of it, companies have increased their marketing effectiveness and they are able to generate more revenue out of the cost spent.

But, one thing has to be accepted. Deploying analytics tools in an organization is not an easy task. One of the main concerns is scalability – whether analytics will be utilized on a large scale or a small scale, because, depending on that, cost will vary; and if you choose the wrong one, it will eat your revenue. Change in organizational culture is also noteworthy – those who are not yet oriented to analytics, may face difficulty in adopting the technology.  In spite of all these, analytics have proved to be tremendous successful for marketers. Given in the present dynamic situation, CEOs must learn to adopt analytics and should motivate his or her marketing organization to use. Click on http://www.forbes.com/sites/forbesinsights/2014/05/19/an-advanced-marketing-analytics-cheat-sheet-for-ceos/?ss=business  to know the tips for CEOs.

Rate this blog entry:
3730 Hits
0 Comments
Sign up for our newsletter

Follow us