SigmaWay Blog

The problem that corporate decision makers face is not the lack of available data, but how readily that data can be accessed, understood and used. A BI system gives companies a really valuable insight into operational things. One must also navigate the market environment properly to operate a company perfectly looking at the internal metrics. Business Intelligence systems seem to see the Internet almost as an afterthought. BI has never made its way in any meaningful way to those that are looking at external data: The insights teams, strategy teams and tactical marketing teams. There's more good data out there than most people realize but the problem is discovery and access, not availability. Business Intelligence and Market Intelligence are about to meet up in a big and transformational way for both industries. BI will have to learn about the needs and desires of the world's marketing departments and Market Intelligence companies will have to learn how to deliver their data in a more useful way than they currently do. Read more at: 

Consumer choice process has two steps. Firstly, he assigns a value to each product according to his willingness to pay. Secondly, the consumer compares and ranks these values. People evaluate the stimuli that they see even if they do not have to choose. Marketing may not necessarily need a billboard or commercial in order to materialize. It may extol the positive values of a product.  A consumer may subconsciously value a product anyway.  There are certain aspects that a company's advertisers have to worry about besides what its competitors say or how they advertise because if consumers automatically assign values to products, then marketing may not save a product that has many deficiencies. This may lay out cost effective opportunity to the present advertisers. Companies can highlight some positive virtues of a product on the product itself. Read more at: 

Business intelligence (BI) is the larger term that depicts the accumulation and investigation of an association's own data, including sales data plus legacy documents. It addresses the inquiry of whether an organization has all the essential assets and techniques to work effectively in a specific business sector. This brainpower is regularly used to control expenses, comprehend operations and execution, and also build profit and adequacy. 

Market intelligence (MI) serves to enhance choice making. The distinction is that BI concentrates on an organization's own particular information and MI concentrates on outside data. MI provides for you a reasonable picture of business sector open doors, dangers, client necessities and the focused scene. Examining this data will help you choose how you can develop the business, addition piece of the overall industry, dispatch new items or enter new markets. 

A blend of BI and MI can reveal to you whether your inner assets are ideally adjusted to outside business sector potential. Using both MI and BI can give effective experiences – yet the test is that business knowledge and business sector sagacity information come in distinctive structures and configurations. This influences how the accessible information is gotten to, consolidated, dissected and utilized. 

All these mirror the difficulties with Big Data, implying that we frequently find our information sets are excessively expansive and intricate to control or research with standard strategies or device. To read more: http://www.globalintelligence.com/insights/world-class-market-intelligence/articles/trending-now-integrating-business-intelligence-data-with-market-intelligence-insights

To boost manufacturing and entrepreneurship in the country, Flipkart (Indian e-commerce company)  announced its tie up with Small and Medium Enterprise (SMEs) promotion bodies. Strong data analytics that forms the base of e-marketplaces will help the sellers to improve their products easily and attract more customers. According to the Executive Director of NCDPD (National Center for Design and Product Development), analytics and market intelligence provided by Flipkart will assist NCDPD in improving their products and R&D and also enable the craftsmen to create better saleable products. The objective of this tie-up is to continue helping entrepreneurs to create products according to buyer requirements and grow significantly by expanding their business so that they may become manufacturers not only at a local but also at a national level. Read more at: http://articles.economictimes.indiatimes.com/2014-06-18/news/50678912_1_data-analytics-flipkart-market-data.

If customer psychology is to be followed then it is seen that a customer is more satisfied and happy when he has purchasing power. The feeling that the customer has enough money left gives him/her a sense of assurance and satisfaction than when he/she is spending the last dollar, no matter what is the quality of the product. Hence it is better to target customers at the month beginning than at the end of the month.

To know more kindly visit:-

http://www.businessnewsdaily.com/6460-customers-love-purchases.html

The most dangerous and common mistake that can be made in a market research is being biased. Most of us are bound by some preconceived notions about certain subjects and we react accordingly without completely clarifying or interpreting clearly. Such cases can lead to wrong research results even though the data might be correct. Hence, we need to stay free from conformation bias while doing market research.

To know more kindly visit:-

http://www.forbes.com/sites/rogerdooley/2013/08/21/market-research-mistake/

There are large number of interesting research reports and results available from which we can understand the pulse of the market and accordingly make changes or take decisions to improve our businesses. Research can prove fruitful and effective if they can be utilised properly for the benefit of the business.

To know more kindly visit:-

http://www.forbes.com/sites/kernlewis/2014/02/11/how-to-use-interesting-research-to-help-marketing-your-business/

To do any kind of marketing analysis or to decide which social media to use, good marketing research is required. It helps in taking correct marketing decisions. This article tells us more about the tools and methodology we should use to do social media market research. Read more at:

http://socialmediatoday.com/chrissyme/2444106/how-spot-good-social-media-marketing-research

Building a brand with the help of social media is an absolute necessity in the present scenario. But to do so one must have to build trust about the brand first. Expertise is also required to build your brand, because otherwise it will not succeed. Most importantly to build and maintain brand value in social media one must constantly update itself with the latest trends.

To know more please visit:-

http://socialmediatoday.com/adhutchinson/2442911/three-key-elements-build-your-brand-through-social-media

Recent news said that Twitter is coming up with a new platform called Twitter Commerce. These branded tweets, which look just like normal tweets, can be expanded to reveal a Buy button that allows consumers to make a purchase from within the Twitter app. Though twitter commerce has not been launched yet, social media providers are on a path to convert the social media platform into e-commerce platform. Few years ago presence of a brand in social media used to provide a significant advantage to the brand identity. But currently brands use the social platform as a communication channel with their consumer. With new and upcoming social commerce technologies, the biggest change for social media marketers will be a shift in focus from branding to lead generation. For more details please visit: http://www.businessnewsdaily.com/6318-future-of-social-commerce.html

In a recent study it was found that more than 50% of revenue for small businesses comes from repeat customers. It is important for small businesses to retain their customers rather than acquiring new ones. Customer loyalty program is a good tool for small organizations to retain customers. Successful customer loyalty program requires authentic customer information. A digitally run and managed program will efficiently explore the data available and will in turn provide deeper insight about customers. For more details please visit the following link: http://www.businessnewsdaily.com/6310-big-data-customer-loyalty.html

The toughest job for small business owners is to develop a cost effective marketing plan. Unlike large organizations, small business owners have limited resources in their hands. Hence they need to be more careful while developing a marketing plan. Communicating with consumers should be their primary focus while creating a marketing strategy. For more details about marketing strategy tips please visit Chad Brooks (senior writer of BusinessNewsDaily)'s article link: http://www.businessnewsdaily.com/6289-making-the-most-of-your-marketing-plan.html

Market research is the most powerful tool to analyze whether a product or service can fulfil the consumer needs or not. Market research helps to find the target audience, buying behaviour of consumers, market trends, demographics, economic shifts etc. This information is essential to the success of small and medium enterprises. Markets are dynamic and therefore it is important for SME players to remain updated about the market trends in order to remain in competition. Market research can help SMEs to remain updated and help them to understand the key issues in their business. For more details please visit: http://allafrica.com/stories/201404230455.html

Email Marketing is the buzz word in today's business. So what is email marketing? Email marketing is the online version of direct mail. Instead of sending fliers and coupons to a customer's home, you can send those same items digitally to a customer's inbox and also helps the sender to see who is actually using and reading the mail. A study suggests that small and midsize businesses are now concentrating more on email marketing. Email marketing is cost effective and easy to create. It has a wider reach.  There are many forms of email marketing like newsletters, promotional campaigns, invitation email etc. To read more details about email marketing, please visit Chad Brook’s (BusinessNewsDaily contributor) article in this link: http://www.businessnewsdaily.com/4488-email-marketing-guide.html

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

Dyn, internet performance service provider, announced that it has acquired Renesys, a company that specializes in monitoring the Internet to provide data about cloud services, connectivity and potential performance issues. Renesys runs a real-time network of monitors that analyze Internet routing and performance data to help businesses get a deeper insight into the network and Dyn will combine the data gathered from this network with its own telemetry. Using this data, Dyn will be able to offers its customers better data about how to optimize their CDNs, clouds and data centers.

To read more, visit the following link: http://techcrunch.com/2014/05/21/dyn-acquires-internet-intelligence-service-renesys/

Location analytics adoption rate is growing rapidly. It's fueled by various trends like: Exposure of geo-coding technology, increasing focus on regulatory requirements, market intelligence and competitive intelligence. Over 80% of all data contains a location component. Location intelligence is easily attained through utilizing Geographic Information System (GIS). Location Analytics helps to visualize & explore relationships within this data and uses the result in decision-making. Location analytics firms are focusing on packaged solutions that can be integrated into other solutions such as workforce management solutions and analytics software.

To read more, visit the following link:http://www.digitaljournal.com/pr/1905902 

With the growth of business, small business owners may find that some of the promotional activities are becoming useless. Brands need marketing makeover to sustain them. Hence, marketing strategy needs to be changed from time to time. This article by Nicole Fallon (Business News Daily Assistant Editor), tells us about the four strategies to boost business growth as recommended by Hiscox (small business insurer firm). Read more at: http://www.businessnewsdaily.com/6351-refresh-marketing-strategy.html

Organizations now can get some insights of consumer behaviour by using highly sophisticated click-tracking tools. Remarketing is one such tool which is becoming an important part of organizations' digital marketing strategies. This article by Nicole Fallon (Business News Daily Assistant Editor), tells us about the details of remarketing. For more please visit: http://www.businessnewsdaily.com/6354-digital-remarketing-tips.html

JETNET LLC, an aviation market intelligence company, announced a new release of JETNET CRM (aviation-specific customer relationship management tool which includes market analysis, market research and prospect management functions). The new release is designed specifically for aircraft professionals. Improvements include specific aircraft selection and sorting with ownership and sales histories; custom-designed lead generation reports with hundreds of potential buyers; high-probability target list generation; custom notes, action items, and flagged prospects; and easily managed lead/prospect lists and generated reports for importing/merging into scheduled emails.

To read more, visit the following link: http://www.blueskyexecutiveaviation.co.uk/issue_272/JETNET_creates_powerful_industry-changing_market_analysis_tool.htm