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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

Forcasting future investment corelates big data analysis

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

 

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A quick check list to combat major IT shutdown

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/

 

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What to do to technically upscale your industry?

Want to make your industry more tech oriented? Follow a well-planned strategy and nicely made roadmap. The financial services and the manufacturing industry are adapting technology in their work culture. But the scenario is not the same for natural products industry. The new technical platforms are very critical to the organization's growth. But those who are still not working to make their work easy using technology are at a big loss. To blend Information technology with your work, it is important to have a strategy and a roadmap. A strategy consists of analyzing the current state, benchmarking and collecting recommendations. Then an analysis of the vision and the goals of an organization is required. To make the workforce acquainted with tech, a plan is required. Upgradation can be done only after taking the estimation of budget. Then comes the role of the consultants, they recommend which software or hardware will be most suitable and at what place. To do the same IT people recommend a plan of how and what is required to be done. Read more about it at: http://www.naturalproductsinsider.com/articles/2016/01/information-technology-strategy-and-roadmap.aspx

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Data Analytics In Finance

Data analytics is no longer limited to the field of business and market research but it has spread across the financial sector as well. Stock market investors are using data driven insights and predictions to make crucial investment decisions. By observing the market conditions and various metrics related to it, the data scientists are being able to come up with accurate inferences about the market, and the data analysis is becoming increasingly precise and data intensive.  This is due to the availability of financial data and decreasing cost of information technology. The growth of analytics in this sector is likely to continue and is going to revolutionize the way financial trading is done. To know more read: http://www.huffingtonpost.com/irene-aldridge/why-big-data-matters-in-f_b_7553438.html?ir=India&adsSiteOverride=in

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SMAC: A new IT trend

According to Nitin Mehta (CIO of IT Enterprise Transforming India), Indian industries are going through technology transformation phase. Social, mobility, analytics and cloud (SMAC) are changing the way the organizations run. According to the Enterprise IT trends and investments 2015 survey report:

• 64% of the Indian CIO plan to increase their IT spending over 2014.
• Three in ten CIOs are planning to increase their IT spending by 10%.
• 25% of the IT budget is allocated to SMAC technologies.
• 50% of the respondents believe that social media is very effective in engaging customers.
• 57% of the respondents believe that cloud is being every significant.

Some observations are found, they are:

• CIO’s, IT agenda is mainly driven by internal factors, such as maturity and organization size.
• Companies IT spending is increasing.
• Social media is becoming an integral part of marketing strategy.
• Social media is transforming the relationship between stakeholders.
• Increasing usage of smartphones and internet, helping organizations in creating digital data.
• Prescriptive analytics is helping organizations in understanding the need of the customers.
Read more at: http://www.moneycontrol.com/news/technology/indian-companies-to-spend-moredisruptive-technology-ey_1391213.html?utm_source=ref_article

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The Hybrid Cloud: Shifting Emphasis from Cost to Benefit

A hybrid cloud is a cloud computing environment in which an organization provides and manages some resources in-house and has others provided externally. For example, an organization might use a public cloud service, such as Amazon Simple Storage Service (Amazon S3) for archived data but continue to maintain in-house storage for operational customer data. The hybrid approach allows a business to take advantage of the scalability and cost-effectiveness that a public cloud computing environment offers without exposing mission-critical applications and data to third-party vulnerabilities. This type of hybrid cloud is also referred to as hybrid IT. The hybrid cloud has the potential to transform enterprise IT completely and shift the cost/benefit emphasis from cost to benefit.

Matt Watts, Netapp, speaks about how hybrid cloud can bring this transformation. To know more, please visit:

 

http://www.forbes.com/sites/netapp/2015/03/18/hybrid-cloud-cost-benefit/

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Healthcare: India’s new investment sector

The health care industry in India is growing at 1.5 times the GDP growth rate, but still use of information technology in healthcare is insufficient. Currently, Government of India is encouraging private participation due to constraint in public funding capability. Government has launched Health Management Information System (HMIS) in order to take better decision on public health delivery. HMIS portal will convert local health data into real time information, management indicators and trends. A research suggests that the growth rate of India’s health care market is 25%. Also the research suggests that India has the fastest growing healthcare IT market in Asia. Currently seeing the growth rate, many multinational companies are entering in to India’s healthcare industry with innovative and customized products. For more details please visit: http://www.marketingprofs.com/chirp/2014/24904/intelligence-by-variety-where-to-find-and-access-big-data-infographic

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New age of healthcare

As healthcare industry changed dramatically and became more consumer driven- prevention, personalization, prediction, pre-emption and personal responsibility have become important. Telecommunication companies are coming with advanced and customized products to meet unique requirements of the healthcare industry. Products range from providing connectivity for enterprise mobility, asset management and exchange of health data in various formats, platforms for healthcare IT tools; mobile apps for physicians and healthcare professionals to patient engagement solutions. As healthcare moves toward "On-demand, anytime, anywhere" concept, sensor technology will revolutionize the healthcare industry. For more details please visit: http://www.forbes.com/sites/reenitadas/2014/05/19/healthcare-beware-new-intruders-are-coming-introducing-the-new-gold-rush/

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Next phase of healthcare: digitalized version

Patients want digitalized version in healthcare industry similar to amazon.com where they will get all information about insurance, prices, and availability. New entrants -- ranging from entrepreneurial start-ups to telecommunications companies, retailers, athletics firms, consumer products businesses, and more -- have entered the fray, with more expected to target this $2.8 trillion opportunity.  For more please visit the link: http://www.informationweek.com/healthcare/patient-tools/healthcares-next-phase-think-amazon/d/d-id/1251010

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Online medical information – bane or boon for the healthcare system?

A recent study, conducted across the major cities in India suggested that doctors have been facing problem to deal with patients who use internet to find the cause of a particular disease. Internet in general and medical websites is becoming doctors' worst nightmare. We cannot deny internet's potential in providing healthcare information. But debate is, whether too much information is dangerous or not. In this scenario different doctors are providing different opinion about the use of internet. Some of them find that internet is useful, and they also feel quite comfortable while discussing the diseases with well-informed patient. An analysis on a health information site suggests that only 10% of the searches land up on reading articles about symptoms of diseases. In fact, health websites play a far more diverse role than doubling up as an online doctor or symptom checker. Doctors are also afraid of wrong information which is available in net. For more details please visit Nirmalya Dutta's article link: http://health.india.com/healthcare/online-medical-information-bane-or-boon-for-the-healthcare-system/

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Solving the information exchange problem in healthcare industry

One of the major areas in healthcare industry which needs reform is information exchange between physicians and home health agencies. Most of the Medicare claim is denied due to missing signatures, insufficient documentation, and inaccurate descriptions. To overcome this difficulty, an organization, H2S (founded in 2013), came up with a new solution. The software automates the patient order management process in order to save time spent by physicians in documentation and decrease accounts receivables for health agencies. This helped health agencies and their referring physicians to send, receive and track patient documents so that providers can be reimbursed for services on time. For more details about the please visit Sramana Mitra's article link: http://smallbiztrends.com/2014/04/information-exchange-problem-in-healthcare.html

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Accountable care success requires strong health IT

Till date ACO model has produced mixed results. Players in this industry are currently investing heavily in technologies that analyze, save and streamline to help generate the model's promised benefits. According to Laura Beerman (healthcare network manager at Decision Resources Group), it is important to use technology wisely. After the release of first year result of Pioneer ACOs, industry expert scrutinized the result and found that use of technology can lead to success of ACO model. For more details please visit: http://www.informationweek.com/healthcare/analytics/accountable-care-success-requires-strong-health-it/d/d-id/1204454

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How social business grew up?

An article by Dion Hinchcliffe, Information Technology expert, talks about the deep application to organizations that made social media such a potent and popular way of communicating globally. This involves raising awareness, educating leadership, trying to figure out what department should be in charge of social business, rethinking business processes in a much more fragmented yet connected operating environment, acquiring budget as social business operations grow, measuring results, and so on. Social business has become a more powerful and effective way of operating. But it must mature to grow its relevance and effectiveness as it's situated within the realities of the contemporary organization.

 

 

To gather better insights follow http://www.zdnet.com/how-social-business-grew-up-7000029450/

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Marketing is eating IT - get ready!

According to Forrester's "Customer Experience Index," 80% of companies say they deliver "superior" customer service, while 8% of people say the same companies actually deliver "superior" customer service. This disconnect has a significant impact on brand impression and retention - making this a key issue that CMOs are now finding imperative to address. CMOs all over the world had spent $100 billion in 2013 to drive brands through online advertising, and for measuring the success of campaigns using agencies, analytics and marketing automation. Still businesses get nearly 45 billion calls from customers and prospects. These infarctions' remain invisible to CMOs. Hence it is the time for the CMO, marketers and call center leaders to work together and improve the customers' experiences. By integrating call center employees with the content marketing strategy, organizations can actually take the right communication strategy. For more details please visit: http://www.nojitter.com/post/240168198/marketing-is-eating-it--get-ready

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Mobile future will force business into the cloud

An article by Aimee Chanthadavong, tech journalist with ZDNet, talks about how businesses have focused aggressively on virtualization and automating private clouds so that information can be shared. She also mentioned about the transition from the mainframe which happened over a decade and thus moving to the third platform of IT is going to take a while because there's so much invested in the existing infrastructure. Businesses redefine their infrastructures and look at ways to free up their existing budget to fund new projects, such as creating new apps; it's also an opportunity for IT to be innovative again.

 

To know more visit http://www.zdnet.com/mobile-future-will-force-business-into-the-cloud-emc-7000029095/

 

 

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Healthcare cloud: opportunities and drawbacks

According to a blog written by Todd Hixon (a contributor in Forbes), healthcare cloud is a major area of innovation.  This article also tells us about opportunities and drawbacks of healthcare cloud. Cloud technologies help in lowering cost by strengthening care coordination, and improve clinical outcomes by analyzing medical data in the cloud. Problems lie in implementing cloud technology due to unavailability of data. To read more about opportunities and problems of implementing healthcare cloud please follow this link: http://www.forbes.com/sites/toddhixon/2014/05/06/entrepreneurs-outlook-for-the-healthcare-cloud-is-cloudy/

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IT security: It's time to change the game

How can we rethink the ways we protect our changing IT world? We do IT differently these days, with users bringing their own devices into networks, with apps in the cloud and users are wirelessly connected - from anywhere at any time. But we still do security the same old ways, with firewalls the mediaeval fortresses guarding the gates around our walled city data centers. Detecting malware is complex. New malware that's never been analyzed won't be blocked by conventional tools. The risk may be small, but it's still a risk. Changing the way we think about protecting our networks from malware changes the game. It lets us focus on understanding the software engineering implications of malware. It's a new world out there and it's good to see that the security industry is thinking about how it needs to react, taking advantage of the same new tools and techniques we're using in private, hybrid, and public clouds. Now it's up to us to think about how we can prevent attacks on our infrastructure and keep that vital data right where it belongs.

 

 

To know more, read the article by Simon Bisson, Freelance technology journalist, follow http://www.zdnet.com/it-security-its-time-to-change-the-game-and-heres-how-7000029246/ 

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Healthcare experiences encouraging ACO results

Advocate Healthcare had signed Medicare's first Shared Savings Program contract in 2012. The purpose of the contract was to test the ACO model, which offers financial incentives to hospitals and doctors for meeting cost and quality targets. Based on its initial success, Advocate is preparing to expand its ACO and officials believe it is worth of new investments. However, the success achieved through operating Medicare ACO model was not a cakewalk, but rather the success is achieved through failure, experimentation, and adaptation. Read more at: http://www.healthitoutcomes.com/doc/health-care-system-experiences-encouraging-aco-results-0001

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Unified Communications: The future!

A recent research on 1000 Information Technology executives and decision maker respondents by the cloud services company EvolveIPrevealed that 84% of organizations that do not currently deploy Unified Communication features, are planning for, or considering the services, for their business in the next one to three years.For the study, Evolve IP defined UC as: "The concept of consolidating phone, email, fax, chat, video, and collaboration into a single unified channel, either on a device or on a computer”. The survey also examined UC components and uncovered that the most requested UC features are:

  1. Audio & Web Conferencing (51%).
  2. Unified Messaging (46%).
  3.  IM&P Instant Messaging and Presence (40%).

To read more, visit the following link:

 

http://www.prnewswire.com/news-releases/84-of-organizations-considering-unified-communications-uc-in-the-near-future-253461811.html

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