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

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Consumers Are Rooting For Artificial Intelligence(AI)

According to authors, innovations in the areas of Artificial Intelligence(AI),Machine Learning and Deep Learning are beginning to dominate the technology landscape but the actual user experience and concerns about privacy and security are obstacles that can prevent AI from reaching its potential. Despite it’s negative implications, a Consumer Intelligence Report by PwC, revealed, that most consumers believe AI will help humankind, by solving complex problems, like fatal diseases, city traffic, cybercrime, infrastructure and fraud, that plague modern societies , thereby helping people to live more fulfilling lives. AI could revolutionize  personalized healthcare by analyzing data thus helping in maximizing life expectancy and enhancing wellbeing.AI will expand access to financial, medical, legal and transportation services to those with lower incomes thus emerging  both as a process and a product that instills trust and transparency in consumers. Read more at


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How Machine Helps Companies In Eliminating Decision Biases

According to authors, modern-day marvels are the result of machine learning, which are programs that combine through millions of pieces of data and start making correlations and predictions about the world , by using machines that uses cold hard data to make decisions that are sometimes  more accurate than a human’s, thereby reducing biases. Computers don’t hold any inherent biases, as machine  knows only one approach i.e. the objective analysis and are capable of analyzing massive amounts of information, thus having  a distinct advantage over humans. Utilizing the data for machine learning, can uncover contradictory and surprising results by making data more accessible, more understandable and  enabling the organization to achieve a new level of business intelligence, thus empowering decision makers at all levels with a powerful tool. Read more at


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How Artificial Intelligence Is Powering Retail

According to authors, the development of Artificial Intelligence (AI) creates several opportunities for retailers to improve their customer services , insights and business processes. AI makes it possible to generate insights on a scale like never before, it does this by combining customer data  across all platforms( from social media to CRM) like past purchases, search habits, click behavior, age, gender, season of the year and various other variables and self learning algorithms. By crawling the web and aggregating various forms of customer data, AI gives retailers the opportunity to engage with customers on a more personal level. Through chat applications such as Facebook and Messenger and by using chat bots on websites, the potential customers can communicate with the retailers using speech or text, that will assess and answer customer queries, thereby assisting in the selection process and helping in the execution of simple tasks. Read more at




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Difference between business analytics and business intelligence

Business analytics and business intelligence are like two sides of a coin. But there is a difference between them. Business analytics is like an umbrella term and intelligence is a part of it together with other aspects of business applications. Once a person runs a business, that person will be able to understand the difference between them, that is, business intelligence is like accessing to all kinds of business related data and software's and put them into the analysis. Business analytics is something using your business intelligence into your data and optimizing the performance of the business. To have a successful business, it is important to follow both. Business intelligence is generally used to look over the previous data, whereas business analytics look to the future needs of the business. It's necessary for a businessman to understand its difference for making any business decisions or predicting for the future. Read more at:


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Tricks to spot perfect customer

Marketing the contents those appeals to the customer or the client is best method to attract them. For this purpose, a good and catchy title having numerals and adjectives could do a lot good to the firms. Giving incentives and offers can help to identify the genuine customers and give many details about them. Also creating market content has 3 stages i.e. awareness among customer about your firm, consideration about other competitors and decision of the customer to select your brand or some other, hence care must be taken for each stage to attract the targeted customers.

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Better Data Integration leads to better business growth

Business Intelligence software enabled the visualization and deciphering of data but it failed to understand the correlation in the data. Hence, Business Optimization evolved from BI and enabled stakeholders to get wider insights on data interaction and optimize business growth. This free passage of information allows the organization to further utilize raw data only if the company has industry-wide open API standard. Together it is called AoE (Analytics of Everything) now enables organizations to go through an integrated combinations of people, processes, data and technology to have greater insights on the business. Read more at :


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Why Social Business Intelligence is the next big thing in data management

With every passing day, improvement in technology keeps making our lives easier and more organized. Social business intelligence is a technology which allows systematic data sharing, computing and analysis to obtain an efficient market data through different social media analytics. It is of utmost importance for companies today to have an efficient business management system which is capable to deal with huge databases coming from social media and IT systems. Also, the systems should be accessible and cost-effective. But, the occurrence of cyber hacks and security impeachments hamper the growth of this market. In the coming years, open-source software framework systems like Hadoop and MapReduce will benefit the companies in efficient data management. FMI reports suggest that business intelligence tools are likely to take over the BSFI, IT and the telecommunication sector by 2017. Read more at


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Personalized Marketing

Personalized Marketing is all about using customer information- their interests and behavior and to deliver the valuable information at the right place, at the right time, to the right person. It is valuable because we are barraged with so many generic ads that it gets fade away into the background. Furthermore, personalized marketing filters out all the gratuitous information and gives control to the consumer. It takes into account that customer is a narcissist. There are certain benefits of personalized marketing. Its main goal is to increase sales. It helps in building strong relationships with the customer and improving their experience with the brand. Personalized marketing technology works on analytical data. So, the more data we use, the easier it will be to make informed choices.  But, it is a major challenge to gather the right data and understand the customer's interest and behavior. Read more at:


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Is Centralized Intelligence System a need of the hour?

Though all forms of market intelligence are not helpful to track customer loyalty or his preferences, a centralized intelligence system can bring consumer behavior insights. Intelligence in a market or an army is comparable as in both the cases remote insights bring limited information whereas central intelligence provides a more vast and detailed picture. Having an updated CRM could help tailoring the messages sent to prospective customers and more personalization is possible. It would predict customers’ next move. Read more at : 


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Secret To Entrepreneurial Success

According to authors , a recent global survey from the medical industry workforce, threw light on the following for a business to flourish:

1)80% of the workforce in the remote counterparts, pointed out that Management/Managers should stay in touch with them, via instant messaging apps and frequent conversations over phone.

2)56% of them, stressed on video calls once a week .

3) Mandatory face-to-face interaction, via  attending monthly meetings with managers .

4) Utilizing IT system for both tracking and measuring productivity per worker.

5) Research and evaluation of tools and techniques on a regular basis to stay notified about the new techies .

6) Assuring full support and engagement of the employees in the remote areas. 





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The Future Of Work: The Intersection Of Artificial Intelligence And Human Resources

According to authors, AI and Machine Learning algorithms, introduces us to an era of intelligent conversational environments , by  bringing about a paradigm shift in technologies and strategies ,thereby collaborating the rate of progress in business and process for automation, thus making an enterprise more smarter ,flexible and conversational. AI mainly focuses on making support systems more efficient across a multitude of applications, processes and business domains, bringing about intelligent collaboration capabilities to the emerging Conversational Workspace platforms, improving workflows, automating repetitive tasks and initiating automated interactions via voice assistance ,thereby, helping an organization to take better decisions and grow. Read more at


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Shifting to offline strategy: A new trend in e-commerce industry.

Flipkart is not the first of the many e-commerce players to start their operations online. All has not been well for this industry in the past, both for consumers and investors. This has happened for various reasons including the entry of diverse competition as well as government policies—particularly demonetization. Following a offline to online strategy is only because of declining growth in the e-commerce industry is an overstatement. The idea is to provide interior designing consultancy and offer a holistic experience to the consumers for better decision making. Another reason for an offline presence is offering a platform for increasing brand credibility and cement its online business. Read more at


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How to attract first-time customers to second purchase?

Customers who have made purchases with a business once, make up a significant chunk of customer database. The second purchase is a key milestone in the customer journey. Now, using data, certain areas should be focused on first time customers that can help to push these customers into their second purchase. They are:

• A varied basket – with items from multiple departments – doubles the chances that a customer will make a second purchase.

• By offering discounts.

• Returns predict a higher customer lifetime value.

Optimizing these above factors can attract many customers on a long term basis. Read more at


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Artificial Intelligence in Practice

Artificial Intelligence is development of computer systems able to perform tasks normally requiring human intelligence, such as visual perception, speech recognition, decision-making, and translation between languages. Therefore, AI can process a lot more data than human brain can, and thus can do more work accurately in less time. Along with data analysis AI can perform much more complex tasks such s determining customer preferences for products based on previous buying habits and understanding unstructured data. AI is augmenting the capabilities of human by solving such complex challenges. The importance of artificial intelligence can also be seen in healthcare industry for suggesting appropriate treatments for patients, fraud detection, financial services and retail. AI can be incorporated in business by using machine, deep and memory based learning which is AI’s core. Read more at:


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The Rising Importance of Artificial Intelligence

The world is entering the age of abundance, abundance of data. And with this, the age of intelligence is on its way. According to Eric Scht, the author of the original article, in today’s world, science and critical thinking really matter a lot. People are becoming wary of changes looking at the rate at which technological advancement is taking place. With the massive increase in data in almost every field, the need for artificial intelligence and machine learning is being felt in a broad range of sectors including farming, energy, fashion and healthcare. Read more at:


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Technology – Shaping The Future of Money.

At Singularity University’s Exponential Finance Summit in New York last month, Peter Diamandis talked about technology, money and a demonetized world. We all have access to everything at the palm of our hands due to advanced technology, robots implying higher efficiency and lower cost. But technological unemployment follows. The counterbalance to technological unemployment, is the demonetization of living. The most common example of this phenomenon is the smartphone where a bunch of different things can be performed in a single device. Demonetization is one of the factors of technological disruption, where money is taken out of the equation for a given product or service, making it available to everyone. Communication, Entertainment, Energy, Transportation, Housing, Education, Healthcare are a few fields of example Diamandis gave in this context. Read more at


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A Smarter Approach to Customer Value Maximization.

Customer Value Maximization is a good method used to attract customers to increase transactions and keep active customers of a business for a long duration. The primary factors which contribute to the total revenues that a customer will generate are time, purchase frequency and monetary value of purchases. Maximizing the value of the customer to the business implies maximizing time × purchase frequency × monetary value equation. The pillars of every value maximization strategy are:

1. Customer segmentation 

2. Tracking customers over time.

3. Accurate prediction of future customer behaviour.

4. It should be based on the use of advanced calculations to determine the Customer lifetime value (LTV).

5. Marketing action optimization.



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AI And Retail Shopping Experience

Retail stores has thousands of choices for fashion and the salesperson may influence you in your decision but with the help of AI and Machine learning your experience is going to more simpler and engaging.AI monitors the browsing patterns of any customer and give product recommendation according to that.AI powered chatbots can work more smarter and intuitively than humans. Machine learning in AI is improving product search capabilities on e-commerce sites.With the tremendous potential of AI, it can revolutionize the retail and e-commerce sector.Read more at:

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Chatbot And Monetization Strategies

Chatbots are new in the industry and you can make a lot of money from it whether you are an entrepreneur or a company. Chatbots can understand and utilize user psychology to your advantage. Bots can give service in the B2B business. In platforms like Facebook, you can advertise your product or service through bots. You can also generate leads for your business. Read more at:

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Bots and their use in business

Many marketers have started to think that how they can use Facebook's Bot platform in their business. There are many ways chatbots can be used for the advantage of the business. Chatbot can offer self-service options to your customers which will bring a positive view of your customer care team. You will able to build most effective marketing campaigns with the in-depth user data. You will also able to introduce new innovative promotional opportunities.Read more at:

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