SigmaWay Blog

Checking emails have become the primary activity for smart phone and tablet users. Thus informing patients about new health care services through emails have become compulsory. Images are the best method of interacting with, informing and empowering patients.  This is because brain processes visual data faster which consists of 90% of the transmitted data. Twitter these days have become the best medium to interact with the aging population who consumes a major portion of the health services. In 2014, more than 50% internet users will redeem a digital coupon which can be used by partners for patient cost saving and adherence.  Marketing needs to be done on multiple platforms and for many devices because the internet device connection has become vast which includes Twitter, Facebook, and Instagram. The reviews of previous patients' online matters the most as 90% people get influenced by peer recommendations. Among the 10.3 billion Google searchers and 78% internet users a major portion hit the top links. Thus the top hits of any organization conclude the bottom line. Content marketing is cheaper than traditional marketing and generates an income 3 times as many leads. So for any strategy the target audience and their choices are to be realized first. Patients receiving newsletters along with emails spend more and are more informed. Most patients prefer articles to direct advertisements. Thus advertising campaigns along with patient experience testimonies, community reviews are important to highlight work being done inside out. Read more at: http://www.forbes.com/sites/nicolefisher/2014/07/15/10-things-hospital-leadership-need-to-know-about-social-media-and-marketing/

Social media has become the most important tool for connecting to a broad range of online customers at the same time. But because of its indirect ways it is difficult to measure the immediate results. According to Conduct Marketing Institute only 58 percent of marketers believe that social media is effective in spite of major businesses spending time and money for making their presence on these media. Interviews and studies have shown that five out of six millennial of youngsters between the ages of 18-36 years prefer social networking sites to interact with brands. But youngsters across most countries prefer some kind of incentives while they interact with the brands online. The study also revealed that most youngsters use at least two internet devices a day and pick up their phones 43 times on an average. Facebook has been found to be most popular among young followed by YouTube which has also been found quiet influential. Other sites include Twitter, LinkedIn etc.

Thus social media is definitely worth investing in and getting include in one’s content strategy if young consumers are its target audience.

Read more at:  http://www.castleford.com.au/blog/2014/is-social-media-the-best-way-to-reach-young-consumers

A global provider of SaaS based mobile life sciences customer relationship management solutions brings in new enhancement to its product StayinFront Touch RX(R) which can run both on iPad and Windows 8 tablet devices. This is very helpful since it provides better access to critical information and data resources which makes the work simpler and maximizes the impact while working with reps in field. It also enables access of sales territories, analytics and reports, track call activities streamline Time off Territory requests and execute field coaching reports. Viewing and tracking information and progress has become easier. They have more access to detailed information with better targeting and enhanced calendar which improves reps’ ability to more effectively manage and sell in their territories and eliminates the need to toggle between systems to see all scheduled appointments.

Stayin Front is a provider of full suite of mobile, cloud based field force effectiveness and CRM for consumer goods and life science organizations. Vast number of countries use it to make their work easier and to improve their business. Read more at: http://www.marketwatch.com/story/newest-release-of-stayinfront-crm-for-life-sciences-delivers-a-single-mobile-device-system-for-reps-and-managers-2014-07-14 

According to a new report from Constellation Research, companies are elaborating their cloud ecosystems, making the demand for regular integration more pressing. Cloud Integration should allow the accessibility of high level data which modern organizations require to operate their businesses. Constellation estimates that more than 2,300 cloud software applications are available for the enterprise, and recent surveys show that organization uses more than 23 enterprise cloud software applications on an average. The importance placed on having access to data rather than owning it also results to the prioritization of cloud integration. The report also cites the Internet of Things as a major driver for cloud integration. For enterprises that have recognized the need for more efficient integrations, have already started to handle their cloud integration challenges. Though a difficult task, cloud integration is the main requirement for digital business effectiveness. Understanding cloud integration is a key requirement for that success. Read more at: 

http://www.destinationcrm.com/Articles/CRM-News/CRM-Featured-News/Businesses-Must-Answer-the-Call-for-Cloud-Based-Integration-98027.aspx?CategoryID=531

Companies take efforts to develop all-encompassing voice of the customer (VOC) programs. The success of these programs is dependent on the quality and variety of data gathered from customers. Increasingly, companies are gathering customer feedback from structured as well as unstructured data. For companies establishing a VOC program, unstructured data seems overwhelming. Because of this, companies may avoid analyzing it. Capturing and analyzing unstructured data can be daunting to VOC program managers. Automation is an important step in successfully optimizing the value of unstructured data in a VOC program. Unstructured data creates excellent insight into the underlying drivers of loyalty, and it's vital that organizations make use of their available information. The companies that listen in the right places, using unstructured data to destroy structured, solicited feedback, and taking action accordingly, will have a huge advantage over their competitors. Unlocking the capacity of unstructured data is manageable if taken one step at a time, and the results will be well worth the effort. Read more at: 

http://www.destinationcrm.com/Articles/Web-Exclusives/Viewpoints/Unlock-the-Potential-of-Unstructured-Data-for-a-Successful-VOC-Program-97918.aspx

According to a recent survey by the International Data Corporation's program director, Greg Girard, just 14 percent of consumers could be considered "privacy spenders”, 47 percent are "privacy hoarders" and 39 percent of consumers are "privacy value seekers,". Both privacy hoarders and privacy spenders are comfortable with retailers using online purchase data for serving them better. They become cautious when it comes to retailers managing their online behavior via social media or other Web activity. Since different retailers attract different demographics, retailers need to know how their customers feel about privacy. Consumers will protest if they feel that the information they are sharing to retailers is not protected. “Trust is not just individually built with a retailer, but affected by these more "external drivers," Girard explains. The challenge will be "how well retailers individually, and as an industry, exercise the responsibility they have to safeguard their customers' data and to use it correctly to deliver value," Girard underscores. Read more at: 

http://www.destinationcrm.com/Articles/Columns-Departments/Insight/Are-Consumers-Willing-to-Share-Private-Data-97716.aspx

In today's highly competitive online marketplace, marketers must utilize every advantage they can get. Business intelligence (BI) software can help you look at your data in different ways, and draw actionable insights to allow allocating resources more effectively. BI software can use large amount of datasets, so you can execute successful strategies on the basis of information. By controlling the right key performance indicators (KPIs), businesses can look at trends that would otherwise be hidden. Online marketers have different indicators which are : 1)The Basics  2)Return On Investment 3)Incremental Sales 4)Conversions by Campaign 5)Cost per Lead 6)Visitor to Buyer Ratio 7)Sales by Lead Source 8)Social Media 9)Tracking Keywords. By visualizing sales funnel with business intelligence software, you can get a good view of how your customers move through the sales process from an initial lead to a sale. Having the correct data displayed in a dashboard format can enable your company be proactive instead of reactive.Read more about this aspect at Jayson DeMers (Founder and CEO, AudienceBloom)'s article link: 

http://www.huffingtonpost.com/jayson-demers/how-business-intelligence_b_3507510.html

Research Company Gartner suggests that there will be 4.4 million big data jobs available in the next two years. Everything is moving towards data: big data, mobile datasets.  Creating and implementing an analytics program requires four steps: 1) Defining your metrics and developing a plan 2) Collecting the data 3) Developing reporting features and capabilities 4) Ongoing analysis and implementation. Understanding each of these core components enables a company to make the right investments at the right time. Corporate data culture is a spectrum that can often be classified as follows: 1)No or limited data 2)Basic data 3)Deeper data that's soiled or controlled 4)Democratic data access. The idea is that your strategy should take the following points into account: 1) Data collection and reporting. 2) Analyzing the data, articulating the implications for business. Useful data tracking comes down to evaluating: 1) who is coming to your site, and what are those people doing once they get there. 2) What channels are driving buying customers? 3)Who is converting 4)What conversions are deepening relationships 5)What conversions are driving revenue 6)Who is buying multiple times 7)What's your lifetime customer value 8)What are your churn rates. Any solid analytics plan will take your business model into account and develop a set of metrics that maps to your unique needs and buying funnel. Read more at:

http://www.forbes.com/sites/jaysondemers/2014/02/10/2014-is-the-year-of-digital-marketing-analytics-what-it-means-for-your-company/

Insurers are today trawling big data about customers’ finances and other sources. The development shows how access to big data is revolutionizing the insurance industry and companies are accessing a wide range of information on everything from financial probity to shopping habits of the customers to determine the risk premium for individual customer. One official of AA insurance company said that the winners in the insurance market will be the ones that have got the data insights that others don’t have. It could be supermarkets, banks or social media companies. However, ultimately the big data trend means some policyholders will pay more than others not for the climate change only but also for insurers to know more about the risks posed by particular properties. But, as with the sensitive data some companies also go far beyond what customers would expect them to do with it, customers should be given the option to opt in to such analysis than allowing them to opt out. Read more at:http://analytics.theiegroup.com/article/53c7a5c03723a8014f0000cd/Insurers-Trawl-Big-Data-For-Clues

Today,banks are using analytics to control frauds in electronic payments. Private banks such as HDFC Bank have implemented analytics software. The thing is that the out-of-the way transaction would decline if one fails to respond to a phone call or message immediately after the transaction. There are two kinds of fraud detection in payments- One is during the transaction, and the other is using analytics to identify suspicious transactions based on past behaviour. Banks are now specializing in the analytics part. According to an official of an analytics software company that provides banks with software to detect frauds, the software can be used to personalize services, like ATMs, for customers depending on their preferences. Read more at:http://timesofindia.indiatimes.com/business/india-business/Banks-use-analytics-to-check-fraud-in-online-payments/articleshow/38347410.cms

Successful companies in 2014 are expected to take Big Data Analytics and utilize it for growth and competitive advantage. Experts discussed how to use data strategically for a strong analytics culture at the webinar "Fine-tune your analytics strategy for 2014". According to Stephen Sharpe, Director of Global Strategic Analytics of Johnson & Johnson, companies need to start working on a cloud based system to integrate and broader integration and training across the various sectors to share best practices. According to Larry Seligman, VP, Advanced Consumer Analytics, Inter-Continental Hotels group, companies need a new definition of data integration and they need to learn how to value projects and programs and quantify the things which were previously not quantifiable. According to Mazhar Hussain, Leader Big Data Practices, HP, gives insight on the importance of analytics as a service. Mid-sized and small customers will take great advantage of analytics as a service which is going to take up big stream and it is important to have the right kind of strategy implemented in the company. Read more at:

http://www.modernanalyst.com/Resources/News/tabid/177/ID/2915/6-things-to-focus-on-in-2014-analytics-strategy.aspx

Big Data analytic has the ability to improve business strategy leading to the identification, provide unprecedented insights and utilize untapped profit sources. The top Big Data trends that emerged in 2013 are Open Source, Convergence and Cloud Data. Companies have to synthesize analytic results across domains and work to produce holistic insights in order to achieve the maximum benefits. A variety of new and complex sources of data, extracting tools and new data mining have been introduced specifically designed to handle disparate sources of data. These systems can interact intelligently; minimize data movement and share data and/or analytic results between components. Overall analysis efficiency has been given a boost and producing better returns. Big Data analytic is based on the open source revolution and the adoption rate of open source technologies. Companies are increasing their overall spend on cloud infrastructure. The intersection of analytic and cloud is creating new value and means for Big Data exploitation. Read more at: 

Those in the managerial level want data to back up assumptions. We can’t formulate decisions on a raze sensation, or what we recognize our rivals are doing, or what we believe our consumers desire. A lot of time companies have no perception of their purchase. So to ignore taking bad decisions, data is used to back it up. Analytics is checked to see what public are doing. So what are business analytics and how do we acquire them? At this level of analytics we need to know our rivals, and what their digital outlets are. We require a digital fingerprint of the rivalry, and we should also have a good knowledge of our market. What people are wanting and giving the services we propose. Information of the industry is very important to make a plan to assess the true data, and then make an approach that originates our expedition  . Read more at:

http://www.socialmediatoday.com/content/whats-going-your-industry

The desire to be mobile and make a mark is not new to us. Today we use GPS for wherever we go and communicate on a variety of devices. Big data is the phenomenon which has helped in generating and sharing information. The difference between data in ancient times and now is that before, only humans created and collected data whereas now with the rise of sensors and other technology that creates and collects data. However, the big thing about big data is the self-organization i.e. without human intervention and awareness, data is organizing itself.  But, this leads to a big question that-Are we playing with fire? With big data revolutionizing, there comes a new responsibility, because the purpose of managing data is not to predict the future but to shape it which is a huge responsibility. However, revolution hasn't stopped. Changes took place slowly in the evolutionary manner. Using technology that provides insight into data, today's business leaders have a unique opportunity to make thoughtful decisions that will have long-lasting impacts. But along with all this, disruptive changes are happening in every industry around the world which increasingly making us concern about whether today's leaders rise to the challenge of shaping the future in a responsible way or not. Read more at:http://analytics.theiegroup.com/article/53c3f6413723a87216000156/Shaping-The-Future-With-Big-Data-Are-We-Playing-With-Fire

Customer service is the key element which decides the fate of a business. If the customers find the employees rude or they don't know what they are talking about the organisation will start losing customers. Irrespective of the business type, customers make phone calls and may want to know the hours of operation or they may have a query about a recent purchase. The customer service department should always follow up with customers in order to show that they care about their customers and they make sure that the product features matches the demand of the customer.Helping them to the car when they have an arm load of products is a good way to show them you care. Helping them decide on which products to purchase and helping them to understand which products will complement each other is another way. To know more go to:http://www.coursepark.com/blog/2012/07/4-reasons-why-customer-service-is-important-for-your-business/

The massive stress, the high expectation, nation’s passion and panic on the shoulders of an enthusiastic but defective Brazilian team. They trapped under the pressure, but there was more to this pressure, or faulty strategy and player’s selection, or inexpert positional play, or a first class German team filled with efficient passers. First-half goal storm saw Die Mannschaft 5-0 up, Miroslav Klose gave his record-breaking 16^th goal at the finals and the brutality continued into the second period with Schürrle.  Mesut Özil missed to make it 8-0, moments before Oscar scored a goal in the final minute of the first semifinal of World Cup 2014. Germany place up in 4-1-4-1 changing from the 4-3-3 they begun with. David Luiz and Dante saw the ball early in deep areas, but with no one to pass and kept missing. Germans moved with instability, interchanges outside the box and played generously, passing football. Read more about this analysis at: 

http://outsideoftheboot.com/2014/07/09/world-cup-tactical-analysis-brazil-1-7-germany-germany-run-riot-to-trounce-brazil/

Cloud, social, mobile and big data technology have been primarily viewed as the drivers behind Customer Relationship Management (CRM). According to a Gartner report, they are now being joined by an emerging driver- the Internet of Things (IoT). According to Joanne M. Correia “CRM will be the heart of digital initiatives in the coming years”. In the report Gartner views that ioT, where sensors connect devices to the internet, create new services previously never considered. Gartner forecasts CRM market to reach $ 23.9 billion this year, with cloud revenue accounting for 49 percent. IoT joins cloud, social, mobile and big data to spur a critical need for more operational CRM, according to Correia. According to an article in Information Week, Gartner predicts that in 2020, there will be 7.3 billion smart phones, tablets and PCs in use- but about 26 billion IoT devices. IoT is driving CRM investments, because the use of cloud- connected intelligent devices is creating new business opportunities for marketing, sales and support executives. Read more at:

http://www.cio.com/article/2453781/big-data/big-data-as-a-driver-for-crm-investments.html

The clinical data analytics market has shifted its focus on new payment models, electronic health records. As a result many healthcare groups are looking to analytics solutions to reduce the risk of the patient population. According to a recent Frost and Sullivan market analysis, clinical data analytics is poised to grow at a CAGR of 37.9 percent from 10 percent, in 2011 to 50 percent adoption by 2016. Despite strong market growth it is not smooth for data analytics. Managing such complex and extensive data is a difficult task. Such analytics can be very expensive. Claims based analytics is still very much a reality. Many analytics vendors have tried to align their brand with PHM by any means necessary, which has increased competition making it difficult for them to differentiate in the market. Also researchers have found a very immature buyers' market, which has raised the doubt as to how far the capabilities of analytics solutions will bear results. Read more at:

http://www.healthcareitnews.com/news/clinical-data-analytics-get-red-hot?page=0

Cloud data centers are capable of handling higher traffic loads whereas traditional data centers are facing various challenges in terms of confluence of capacity, performance and infrastructure complexity due to the data explosion and rising need for scalability. The traditional incremental approach will no longer offer the scalability to face the challenges that are unavoidable in cloud computing. To overcome the challenges, the transition of data centers involves end-to-end transformation of servers, storage and networks has become a necessity. Cloud data centers support greater degree of standardization, virtualization and automation resulting in high performance and cost optimization. Mid-sized and large data centers are growing considerably attributed to huge cloud storage deployments and build-out of public cloud offerings. Investments are pouring from various vendor segments into the data center markets due to these changes. There is an industry trend where almost all cloud service providers are establishing two or more data centers in high economic and advanced zones near major metropolitan cities. Consequently, cloud data centers are clustering around major internet hubs in the world. Read more at: 

http://www.techrepublic.com/blog/the-enterprise-cloud/cloud-computing-and-the-evolution-of-the-data-center/

Big data contains consumer information including transaction data, demographic information, buying patterns, CRM data etc., collected across multiple platforms. The data gives an insight to the customers' preferences of support options, desired communication mode, future buying patterns, impactful promotions, etc. Big data provides better customer service in several ways. Using predictive analysis tools organizations can now predict a customers' next move also. Big data using these tools helps the organization to predict customers' present and future preferences, drive real-time decisions, increase customer retention and increase profitability. More than 77 percent marketers agree that individualized messages and offers are more effective than mass messages and offers, which can drive engagement, boost sales and increase conversions. Usage of Omni channel marketing strategy increases client retention rates and bring superior financial results. Using data to create a cross-platform customer engagement strategy ensures highest customer service. A multichannel shopping experience shapes a brand's story generating revenue and customer loyalty. In two years smartphone users will be more than basic phone users, mobile service increases at the rate of 7 percent annually. Thus best customer experience is delivered through mobile channels for high performance organizations. Unable to ignore the potentiality of social media big brands register tens of thousands of social media interactions every day. There are wide range of options available. Communication through online communities reduces call center costs. Read more at:
http://it.toolbox.com/blogs/insidecrm/5-ways-big-data-can-enhance-customer-service-62054