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

Are You Careful Enough

Analytics is one of the of the most hot topic of the 21st century and it’s starting to become the second currency to  various organisation, but despite having so much knowledge we prone to create some blunders , they are broadly categorised as Data Visualization Errors (Erroneous Graphs) and Statistical Blunders.
Data Visualization Errors (Erroneous Graphs): This is one area that can give a nightmare to both the presenter as well as the audience. Incorrect data presentation can screw the intuition and can also lead to  misinterpretation of data by the audience and can leave the organisation with results which are practically useless for them.
Statistical Blunders Galore: This is probably a “no blunders zone” where one would not want to make false assumptions or erroneous selections and is easily one of the most error prone section. Statistical errors can be a costly affair to both the organisations as well as the audience, if not checked or looked into it carefully and hence must.
To know more read the full article by Sunil Kappal (author) at :http://www.datasciencecentral.com/profiles/blogs/the-most-common-analytical-and-statistical-mistakes

 

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Significance of Data Visualization

To make the data presentable, data visualization is of utmost importance. According to columnist Paul Shapiro data visualization plays a crucial role for marketers because by just looking at large datasets, we can’t get an idea about the pattern of the data. This can be easily done with a help of a scatter plots, bar charts, pie charts, etc. This data visualization makes our data analysis more effective. Here comes in the concept of preattentive attributes. These attributes are those aspects of a visual that our iconic memory picks up, like color, size, orientation, and placement in a few milliseconds. To read more, follow: -http://marketingland.com/brief-introduction-data-visualization-theory-marketers-184112

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One click away to understand big data analytics

One click away to understand big data analytics

Big data analytics is becoming self-explanatory day by day to even a lame person who has lesser knowledge in statistics, analytics and data science. It is a positive sign with respect to current business purpose because we need real time analysis and that can be only possible if data interpretation and visualization becomes more feasible. There are different software like R, SAS and many other online service providers like google analytics, Piwik helps to create better data visualization and interpretation of customer and business data. Even our very own Microsoft excel has some in built data interpretation and visualization programs. But one program, called Quill, takes the trend a step further, producing text-based reports that explain the data clearly and concisely.  Think of it as an executive summary created by a computer to explain a set of data at the click of a button. So it’s time for personalize big data analytics.

to read, follow: http://www.forbes.com/sites/bernardmarr/2016/04/27/will-we-soon-no-longer-need-data-scientists/#540a99bf55f3

 

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Future lies with embedded BI

Embedded Analytics mean adding features associated with BI software such as dashboard reporting, data visualization and analytics tools to existing applications. This can for the most part be accomplished in two ways: o In-house development o Purchasing and embedding out-of-the-box software. To know more about embedded analytics, follow the article written by Eran Levy (Content Manager, Sisense) : http://www.smartdatacollective.com/eran-levy/400533/does-future-lie-embedded-bi

 

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Data Visualization: An Insight

If your company is using analytics for decision making in your company, then you must overcome two challenges before you can begin maximizing the value of your data. The first challenge is to get clean data and the second challenge lies in the area of data visualization. It is reported that data-discovery tools are anticipated to grow 2.5 times more rapidly than the rest of the BI market. But, the question arises why is this technology so important to business success, and how can it help management make smarter decisions? To know more, follow: http://it.toolbox.com/blogs/insidecrm/3-ways-data-visualizations-can-help-you-make-smarter-business-decisions-69897

 

 

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Visual Storytelling Leads To Superior Marketing Results

Currently consumers are distracted by visual storytelling which enables the marketers to cut through the clutter thereby engaging customers over a wide range of digital channels. Data visualization tools acts as a way for the marketing leaders to generate optimal results from their organization's visual storytelling. It helps the marketers to determine the types of media that generated the highest engagement levels with different customers. It further enables to spot key consumer trends by segments and to project the best media type which would generate desired results. The use of visual storytelling combined with visualization of data will continue to gain much more importance because it makes the visual story more realistic with more prospective customers.

Read more at: http://www.tibco.com/blog/2015/06/08/2015-the-year-of-visual-storytelling/

 

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Analytics in Cricket: a technological marvel

Cricket and Analytics are hot topics today. With the help of technology Analytics, the interest quotient of cricket has gone up exponentially. High definition telecasts, data visualisation have really made cricket exciting to watch nowadays. Vijay Sethi, VP and CIO at Hero MotoCorp Ltd, speaks about how he sees his favourite game today that comes with a generous dose of analytics. To read more, visit the following link:

 

http://ibnlive.in.com/news/analytics-in-cricket-is-a-technological-marvel-hero-motocorp-cio-vijay-sethi/536201-3.html

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