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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

The most common market-research mistake

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/

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Technical side of bull market

While taking decisions on buying and selling in the bull market, very few follow the various technical indicators that are available with any charting software. These are some vital signals which people choose to ignore while making decisions on the market. But, if statistics are to be believed they are helpful in making profitable decisions. To know more kindly visit:-

 

http://www.forbes.com/sites/greatspeculations/2014/05/05/taking-the-technical-vital-signs-of-an-aging-bull-market/

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Effective communication: A challenge to project managers

To achieve project targets successfully, effective communication is the key and for that proper communication planning is very essential. In recent PMI's 2013 Pulse of the Profession report, it has been revealed that effective communications is the most important success factor in project management. The report also revealed that on an average two in five projects, do not meet the project's main goal and one-half of those two unsuccessful projects are due to ineffective communications. Effective communication means providing only the useful and required information in a proper time. For doing things in a better way, a project manager has to tailor the communication plan accordingly. There are numerous tools that a project manager can use to maintain a better communication approach, few of them like stakeholder analysis, Power/Interest grid, fish bone diagram or Ishikawa Diagram and RACI chart (Responsible, Accountable, Consulted and Informed) are discussed in the article. Please go through the link for more details: http://www.projecttimes.com/articles/effective-communication-a-challenge-to-project-managers.html

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Measuring in-progress project performance

Measuring performance of an ongoing project is a difficult task. The best method to understand performance, is to primarily determine the KPI's, which in turn will give us a clear idea on which parameters we want to measure the performance of a project. Proper measurement can help us to understand the area where a project is lacking and why. It also helps us to manage expectations of stakeholders and issue warnings against any upcoming problems which might arise in future. Please go through the link for more details: http://www.projecttimes.com/george-pitagorsky/measuring-in-progress-project-performance.html

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How to use interesting research to help marketing your business

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/

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Outbound vs. Inbound marketing

The advertisement marketing genre is slowly showing a shift towards inbound marketing from outbound marketing. Mass marketing is changing towards concentrated and potential marketing processes. The reason for this paradigm shift is the effectiveness and impact of these marketing strategies on potential customers.

 

Read more at: http://socialmediatoday.com/andy-donovan/2424266/ad-realities-outbound-vs-inbound-marketing

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Decoded: Twitter's interest to buy Soundcloud

The main reason behind Twitter’s decision to buy Soundcloud is their slow growth rate. It will help them to increase their customer base and also help them to diversify into a different platform. To know more details on how Soundcloud will help Twitter, please visit:-

 

http://socialmediatoday.com/prasant-naidu/2444336/why-twitter-interest-buying-soundcloud

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Decision making models in project management

Inability to take decisions is one of the principal reasons for the failure of any project. Good project managers need to have proper understanding of various effective tools to manage triple constraints of any project i.e. time, cost and scope. In this article tools like SWOT Analysis, Maslow's Pyramid, Pareto Principle, Monte Carlo Simulation and Decision Tree Analysis are discussed. In the field of project management, these are regarded as highly effective tools for decision making. Please go through the link for more details: http://www.projecttimes.com/articles/decision-making-models-in-project-management.html

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Challenges in project management

Success of any project depends upon numerous factors and several circumstances. Every project manager should be well aware of various challenges which are associated with either the project directly or indirectly. This article mainly covers ten project management challenges which are needed to be considered before startup of any project. Please go through the link for more details: http://www.daywatcher.com/top-10-project-management-challenges/

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How to spot good social media marketing research

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

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Common project management mistakes and how to avoid them

Many big projects sometimes do not see the light of success because of lack of knowledge, skills and improper management of time, money and resources. To avoid doing such mistakes we must understand the reason behind the mistakes and find out ways to prevent them from repeating them in future. To know more about these mistakes and how to avoid them, kindly refer to the below mentioned link:-http://www.cio.com/article/717321/12_Common_Project_Management_Mistakes_and_How_to_Avoid_Them

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Three key elements in building brand through social media

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

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7 Must have project management skills for IT pros

Project’s success is highly dependent upon the efficiency of the Project Manager. A Project Manager must have some required skills to successfully manage projects and lead by example. To know more about the skills of a project manager, kindly refer to the below mentioned link: http://www.cio.com/article/726888/7_Must_Have_Project_Management_Skills_for_IT_Pros

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Getting project management right

Proper utilization of project management is very important since it can make or break a project. Managing it optimally can bring fruitful results but overutilization or underutilization can lead to failure of a project. To know more about project management, kindly refer to the below mentioned link:-http://www.cioupdate.com/trends/article.php/3603241/Getting-Project-Management-Right.htm

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Six Sigma - Benefits for businesses

Nowadays, it is very essential to learn various skills and practices of Six Sigma for improvement of business processes.  It basically helps a company in enhancing performance by establishing the employees and management strategies. The main focus of Six Sigma is to identify defects or errors in business, remove these errors and decrease variation in manufacturing as well as business processes. During six sigma projects there are mainly two project methodologies that a company usually follows.  They are DMAIC and DMADV. Both consist of five phases; however, DMAIC is implemented on projects that focus on improvement of the existing process of business, whereas DMADV is implemented on projects which aim to develop new product and process designs. To understand the importance of Six Sigma in business processes, please follow this link: http://goarticles.com/article/Six-Sigma-Benefits-for-Businesses/6646247/

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Cloud analytics is in demand

Recently, Tibco made an announcement to acquire Jaspersoft for some $185 million and D&B announced that it has acquired small analytics startup Indicee. This shows that companies in order to be more focused and remain valuable to customers, it is very important to provide more value through insights from big data. Please go through the link for more details: http://www.forbes.com/sites/benkepes/2014/04/30/suddenly-everyone-wants-to-be-in-cloud-analytics/

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Quality objectives in project management

Objectives of a project might be more than one. The stakeholders are the ones who are supposed to earn benefits from a project, but the definition of benefit can be different for different stakeholders as stakeholders are more than one. Quality objectives may differ for different stakeholders as per their needs and requirements from the project. Please go through the link for more details: http://www.pmhut.com/quality-objectives-in-project-management-beauty-is-in-the-eye-of-the-beholder

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Benefits of using enterprising tools for managing projects

In the present competitive market maintaining profit and growth is very difficult for a company. To do so the company must take help of enterprising tools. Such tools actually improves productivity and hence profitability of a company. These tools help in proper co-ordination and connectivity amongst the various processes thus reducing idle time among processes. It helps to keep track of various tasks and ensures timely completion of each task. Please go through the link for more details: http://www.pmhut.com/7-benefits-of-using-enterprising-tools-for-managing-projects

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How can stakeholder management fail?

Nowadays, stakeholder management has become a very important aspect for successful completion of any project. It is also introduced as a Knowledge Area in the PMBOK® Guide. During the project, communication, interference, flow of information, uses of tools and matrixes, and hidden agenda of stakeholder’s should be always keep in mind and properly managed by the manager. To know more kindly refer to the below mentioned link: http://www.business2community.com/strategy/can-stakeholder-management-fail-0631968#!RK4ai

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Hope for the best-plan for the worst

It is foolish to plan for the best by just hoping to get the best resources, productivity and enthusiasm while working on a project. It is absolutely possible that we might get to work with the worst kind of resources whose productivity is low and is less enthusiastic. In such a situation if our planning was with the best, we will be left with nothing to do. But, if we plan for the worst, we can work with any kind of resources. To know more kindly refer to the below mentioned link: http://www.drharoldkerzner.com/hope-for-the-best-plan-for-the-worst/

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