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

Data Loss – A Threat to Company!

Data is the most valuable asset for any company and any person dealing with this data needs to be cautious. Modern businesses rely on data. They store, process and access data for information gathering and use it for decision making. According to reports of 2017, a single mistake in handling this data can result into loss of nearly $3.6 million. 

However, data can be loss due to various. Few of them are:

1. Human Error

2. Hardware Failure

3. Theft

4. Online Crime

5. Natural Disaster

The best way to deal with this is to take prevention and keep an up-to-date recovery plan and a 3-2-1 backup strategy, i.e. there should be three copies of data, kept in two different mediums, and at least one of the backups should be off site.

Read about it at: https://www.bigdatanews.datasciencecentral.com/profiles/blogs/five-ways-your-business-is-at-risk-of-data-loss

 

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Mixture of Business and AI!

Artificial Intelligence is the trend and need of this hour. It has already found its applications in many fields. This technology is changing and improving the world at a tremendous speed and for our betterment. There is no doubt that AI is future. However not many of us knows its basic application in Business. Business needs time to time changes to meet the requirements. AI can help and change business in many ways.

Top five way in how Artificial Intelligence can help and upgrade your business are:

    1. Cheaper Analytics
    2. Hiring
    3. Customization
    4. Anticipation 
    5. Security

Know more about it at:  https://www.techrepublic.com/article/top-5-ways-ai-will-change-business/

 

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Voice Conversation matters!

Internet has opened up new possibilities for communicating, from emailing and blogging to mobile video chatting. Most businesses now communicate with their customers through multiple online channels. As brands prioritize this digital experience, they often overlook communicating by voice is faster, easier, and more effective than typing messages. According to the advertising and marketing advisory firm BIA/Kelsey, calls to businesses are expected to exceed 169 billion per year by 2020. These calls are 10-15 times more likely to generate a successful sale or follow-up activity than digital form submissions, which means they are more efficient in generating revenue. Voice is central to communication, and because it’s not strictly an online channel, it presents a challenge for brands that treat digital transformation as a matter of generating clicks and website views. The challenge is particularly acute for businesses that operate in categories such as insurance, lending, travel, or healthcare. In these “considered purchase” categories, consumers typically reach out to a brand after conducting preliminary research online, and are thus well qualified to buy. Read more at https://hbr.org/2017/07/your-customers-still-want-to-talk-to-a-human-being

 

 

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Five Greatest Obstacles to Success in Business

Nobody sets out with a plan to fail, but so often people let obstacles get in the way of their success. They start off towards their goal, full of energy and ambition, and then years later we may find them still stuck in the same dead-end job or dreaming of the life they could have had. The author here, Daniel Milstein, CEO of Goldstar Family of Companies mentioned here that through his own successes in starting up four companies, he figured out a few things that can stall us. They are Time, Lack of Focus, Holding Back, Attitude and Fear. According to the author, one should obliterate the obstacles and move ahead. Read more at https://www.entrepreneur.com/article/297278

 

 

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Future of AI

Artificial Intelligence is one of the most important part of our daily life from simple features like automatic image tagging to prediction and recommendation in business. AI will begin to learn emotion, better understand human sentiment and solve more complex problems. Soon, companies will be able to automate a large chunk of data analysis, decision making and customer service, allowing employees to tackle the most complex challenges rather than get bogged down in the details. Read more at:https://www.entrepreneur.com/article/290444

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Business doing Outsource Without Going Overseas

In today’s business world, outsourcing of overseas tech support is changing with an Innovative solution ‘TechtoUS’ that helps in eliminating language barrier and allows business and individuals. Local Outsourcing is more cost effective than outsourcing overseas. Overseas tech support is difficult for some people because they pay to businesses to call tech support for them. Read more at: https://www.computer.org/web/computingnow/insights/content?g=53319&type=article&urlTitle=how-technology-allows-your-business-to-outsource-without-going-overseas

 

 

 

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Changing Phase of Predictive Analysis

Predictive analysis is now coming to the mainstream. Companies are trying to recruit people with the knowledge of maths and economics together with the business. Evolution of analytics is changing its pace. Organizations are treating the data as their key assets and trying to analyze those to gain more from their business. Initially company didn't realize the importance of data analytics. But now it has become a common trend of trusting their data to the cloud as it seems more secure. Read more at: https://www.cio.com.au/article/620089/slow-evolution-predictive-data-analytics/?fp=16&fpid=1

 

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Cost cuts for a new business to start

Starting a business needs a huge investment and can be a very expensive venture. So here are some tips to save money, which is going to mean more profits on the other end.

1. Recycle: You don’t need to throw the old products rather recycle them. There are many companies who offer buying new products with exchange of old products in a discount.

2. Using of Laptop: In place of desktop using laptop can save energy and saving money at the same time.

3. Using window seating: Making maximum employee sit near window can improve one’s mood and helps you to save money on energy bills.

4. Trying to work with other business helps you to sponsor your events and you can get a lot more press this way which will benefit your business in long run. Read more at: http://www.business2community.com/finance/help-business-save-money-01789180#ZDASPiHz13oFgDmH.97

 

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CRM On The Go!

CRM On The Go!

In today’s world, Mobile CRM is becoming important as it helps business to grow and succeed. Mobile CRM helps in decentralizing sales force who are out on the road meeting clients and making deals. The advantages of Mobile CRM are - Selling on the go, you can up-to-date information, easily integrates with mobile devices, provides powerful insights and analytics, and IT costs are reduced. Read more at: http://it.toolbox.com/blogs/insidecrm/5-ways-mobile-crm-can-boost-your-small-business-73844

 

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Boosting Business With CRM

Boosting Business With CRM

Expansion of business means leveraging client relationships. CRM helps to achieve business growth, CRM provides a solution for achieving business growth and developing client relationships. This article explores how CRM grows your business, which includes boosting agility, increasing revenue and improving efficiency. Read more at: http://it.toolbox.com/blogs/insidecrm/3-ways-crm-helps-to-grow-your-business-73820

 

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Tips for keeping your business on social media

Social media is one of the effective ways to build their brands and to influence people to purchase goods and services. While most executives understand the likely benefit of social media, they don't realize the magnitude of the risk it creates. Here are some security tips for use of social media and general online for employees:- 1. Avoid employment disclosure.
2. Teach employees to manage their privacy settings.
3. Implement a workplace social media policy.
4. Don’t ban social media use in office.
5. Train the IT specialist.
To know more, please read the article by Robert Siciliano (CEO of ID TheftSecurity.com)-: http://www.entrepreneur.com/article/241889

 

 

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Tips for keeping your business on social media

Social media is one of the effective ways for business to build their brands and to influence people to purchase goods and services. While most executives understand the benefit of social media, they don't realize the magnitude of the risk it creates. Here are some security tips for use of social media and general online for employees:-
1. Avoid employment disclosure.
2. Teach employees to manage their privacy settings.
3. Implement a workplace social media policy.
4. Don’t ban social media use in office.
5. Train the IT specialist.
To know more, please read the article by Robert Siciliano (CEO of ID TheftSecurity.com)-: http://www.entrepreneur.com/article/241889

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How Social Media can help in increasing ROI?

People spend more time on the social media nowadays. So, marketers are targeting their customers on the social media platforms. As a result, organizations having a social media presence are generating greater ROI. Social Media is a new communication channel that presents the combination of communication and information. With the integration of powerful search engines, people use it as a source to search for information. Organizations can also check what people are saying about others. Marketing is about your presence at the place where your potential customers can be present. Salespeople are a source for news for their clients on these social networks. There has been a decrease in the budgets for marketing with the help of social media, without affecting the marketing strategies. Read more about this at: : https://www.siliconrepublic.com/business/2016/02/16/social-media-marketing-investing-roi-imi

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Good Business Ideas for Start-ups

Start-up and entrepreneurship is not only regarding ideas you have, it also regarding the execution of that idea. Great ideas without execution and follow-through stand nowhere even if you have a good idea. The important things one need to do, if one wants to achieve success with your ideas are:

1. Be confident.

2. Accept risk.

3. Define your purpose.

4. Create a plan.

5. Assemble a like-minded team.

6. Constantly build momentum.

7. Anticipate obstacles.

8. Establish a professional/personal balance.

9. Set micro-goals.

10. Be patient.

To read in detail, follow the article by Jonathan Long (Founder and CEO, Market Domination Media) at: http://www.entrepreneur.com/article/269869

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The five ways to develop and improve the social media scene

Social media is sustaining its pathway to ever growing popularity and ultimate success. Social media success is not just because of the huge audience but for the several factors which keeps it going to the right way. The prime factor is to be social and communicate with the pool of audience. The entrepreneurs use social media to improve business but there is always a need of communicating with the whole lot of enthusiastic audience just to make them feel that everyone belong to the same social media community. The social media is a platform to promote yourself or your organization but in a different way. The posts get valued more if it is a value post than a post of yourself and your organization. So, there is a need to mix and match the posts. The content of the promotion should reach the audience through the quality social media tools. The social media is a place to get the long term benefits rather than getting a high time business for a short span of time. The focus should be on one at a time so that one can master one task at a time. The social media is a place to provide value with benefits rather than just thinking only from the financial perspective.

Read more at- http://www.business2community.com/social-media/5-forgotten-factors-social-media-success-01279423

 

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Know What Your Customers Feel

In business, one not only has to keep a track on competitors and a close watch on the market but also keep a tab on what the customers are feeling, and how they are responding about their products in social media. Luckily with the advancement of data analytics many such tools are available and are becoming popular. One such marketing tool is social mention, which is a search engine which searches any social mention of the topic in social media there are other tools such as quora, tweetreach, etc. These platforms enable a business leader to evaluate customer sentiments and use it for business development. Read more at: http://www.huffingtonpost.com/jayson-demers/7-marketing-tools-to-find_b_7605262.html?ir=India&adsSiteOverride=in

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Rules to survive in mobile storm

Mobile is a much more personal, interactive, engaged platform than desktop, and should be used as such. - By Ari Brandt (CEO and co-founder of MediaBrix). In this competitive era, if a company won’t recognize the opportunity first, a chance of losing the games increases. And mobile phone is one of the biggest opportunities to maintain a close relationship with your customers. But most of the ad companies are failing to recognize the demands, challenges and opportunities of mobile phones. Rule to crack the opportunity of mobile phones:
• Leave old ad methods behind.
• Take advantage of unique mobile capabilities.
• Put the customers first.
• Leverage new measures of campaign success.
Read more at: http://mashable.com/2015/06/11/mobile-marketing-innovation/

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Social Media And Mobile Go Hand-In-Hand

Businesses cannot ignore the impact of daily mobile use and mobile purchasing, especially given the fact that 85% of Americans surveyed said that mobile devices are important in their everyday lives. Mobile app is the perfect platform for reaching to a larger audience. The mobile-oriented services like Whats App, We Chat and Facebook Messenger are now achieving the top social media ranking spots. To know more, please read this article by OREN LEVY (CEO of Zooz) at: http://www.entrepreneur.com/article/246430 

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Investment Science- No place for Feelings

Are you a seasoned investor and yet you regret making decisions on certain investments? In other words, have you ever thought about going back in time and "do-over" some of your investment decisions? There was never an investor who didn't want to do this. Yes this is a common trait in most of the investors.  What makes us stick to some of these decisions which turn out to be worthless with the passage of time while other decisions might be the reason you become a billionaire. The answer lies in this article: http://blogs.wsj.com/experts/2015/05/05/in-investing-and-in-business-dont-trust-your-feelings/

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The success factors of Continuous process improvement

Continuous Improvement is the prevalent effort to improve services, products and processes by making incremental improvements within a business. This process must be a continual so that the opportunities for development can be highlighted, measured and evaluated

• Leadership that walks the talk- Leaders must exhibit certain distinct behaviors that not only describe support for the initiative but also the behavioral pattern that they wish all employees to emulate. 

• A major focus on “fire prevention” rather than “firefighting”- The problems that require fixing are generating a series of “fires” that on a constant basis distract managers from solving the main cause of their problems.

• Constancy of purpose- Successful continuous improvement programs includes that improvement is not only a management initiative but also a long-term practice that needs to incorporate everything an organization does.

 

• Shift from short term to long term mind-set- The company needs to have at look at the long-term result of the work it is doing.

Read more at:

http://www.processexcellencenetwork.com/innovation/articles/continuous-improvement-4-factors-that-make-a-conti/

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