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Category: Technology

  • How Analytics Platforms Can Help Your Team Make Better Business Decisions

    How Analytics Platforms Can Help Your Team Make Better Business Decisions

    We’re living in the middle of the era of big data, but all the data in the world is no help if you can’t process it to gain actionable insights and useful predictions.

    If data is the new oil, then an analytics platform is the new processing plant that turns your data from a raw material into a valuable commodity.

    What is advanced analytics?

    Today, there are many different types of analytics. Descriptive and diagnostic analytics are familiar forms of analytics that have been around for decades. They involve understanding what has happened in the past and what triggered certain events.

    Predictive analytics are more advanced analytics that use data to forecast and predict what will come in the future.

    Prescriptive analytics go even further than predictive analytics, sifting through data to identify what should be done, and when, in order to achieve the desired result. A recent study concluded that by 2021, instead of just uncovering what should have been done, 66% of analytics processes will also prescribe what business actions to take in the future.

    Analytics platforms make advanced analytics possible

    With advanced analytics, businesses can stop reacting to events that take them by surprise and instead shift to making proactive decisions in a considered way, based on solid data. But these types of analytics are only possible when you can analyze enormous amounts of data; far more than any human analyst can handle.

    Analytics platforms use machine learning, deep learning, and other AI-based algorithms and models to sift through data, spotting trends and identifying patterns to make reliable predictions about shifting markets, customer behavior, and opportunities to increase productivity.

    The automated engine can handle massive amounts of data every second, making it much more effective at noticing patterns and making predictions.

    With analytics platforms, you can access insights on a granular level that allows you to personalize marketing efforts and customize product offerings for every customer.

    Provide a single version of truth

    In many companies, their mountain of data is disparate and divided across the company. The sales team might have sales data, while the marketing department sits on information about conversions and leads, and the product research team gathers details about customer pain points.

    Most businesses are already aware of the risks of data silos, when data is locked away in separate departments. But even more companies have data that is theoretically accessible to all, but their employees are already drowning in so much data that they lack the will to search for more.

    Enter the analytics platform. Analytics platforms unite data from every corner of the organization so that you can maximize its value.

    With an analytics platform, you can painlessly create a single version of truth that’s accessible to every department, so that each stakeholder is using the same fundamental information to drive its decision-making and basing its choices on the same central set of assumptions.

    Keep up with a dynamic business environment

    Today’s business environment changes more swiftly than ever before. The market is shifting rapidly; consumer trends seem to rise and fall in the blink of an eye; and risks loom on the horizon faster than humans can track them.

    When so much of the global business infrastructure is automated, the only way to keep up is to use automated analytics platforms.

    With an analytics platform, CEOs and other executives can make quick decisions based on data instead of their gut instincts. Analytics platforms can predict market changes, understand consumer behavior in order to better anticipate the next fad, and manage risk in meaningful ways that allow you to make calmer and better-informed decisions.

    Predictions are displayed as appealing visualizations that are easy to consume and easy to understand, so that business leaders can respond at the speed of light.

    Democratize access and improve productivity

    Analytics platforms allow each department and team leader to tap into advanced analytics, instead of waiting for data scientists to train, test, and finally deploy machine learning models.

    They place the power of data-driven predictions in the hands of every single employee, so that they can make the best business decisions independently.

    Our globalized markets mean that every company faces a lot more competition from a wider circle of competitors, making it more important than ever to improve productivity and increase efficiency. Analytics platforms help you to pinpoint the right goals and track the right metrics to spot inefficiencies and find ways to correct them.

    Analytics platforms are the key that unlocks your data

    Most businesses are sitting on a mountain of data that grows every day, but without the help of an analytics platform, they struggle to gain value from it. Data scientists and business analysts can’t keep up with the sheer volume of big data, or identify patterns quickly in a flood of information.

    Analytics platforms enable data scientists, analysts, and other employees to use advanced analytics to discover new trends quickly and keep up with the fast-changing markets and consumer interest.

    With the help of the right analytics platform, you can increase productivity, understand customers, ensure that all business decision-making is based on the same central set of information, and draw ahead of your competitors.

  • What are the Key Benefits of Applying Low-Code Technology?

    What are the Key Benefits of Applying Low-Code Technology?

    Low-Code technology makes the creation of flexible apps easier to do so you can complete your tasks quicker and with less effort.

    Using this technology in your day to day business will create the ability for you to do each specific task according to the guidelines and protocols you need to follow. You do not have to adapt your tasks to meet the coded systems that someone else has developed. You develop your own applications and the components that make them work for your business.

    Features of low code technology

    No experience required

    You do not have to be a computer programmer or have written code before. The low code technology allows anyone who wants to create an application for their business to be able to do so.

    The applications can be established for websites or as mobile apps for smartphones and mobile devices. The graphic user interface will walk you through the process in an easy to follow step by step manner.

    Saves you money

    If you are not using low code technology you are more than likely hiring developers to create apps for your company. If you are not hiring developers to create for you then you are hiring someone to alter an existing app so it will work for your business needs.

    Low code saves you all the money that you are currently spending on app developers.

    Increased productivity

    The app development system you are currently using usually takes weeks, or months, to develop an app. While you are waiting on an app your competition is reeling in the client leads. With low coding, the development of a new app is done in days, hours, and sometimes in a matter of minutes.

    You will spend less time waiting and doing things the old fashioned way and more time signing clients and making sales.

    Risk management

    As regulations change you have to change your Apps and the way you are doing things to be within the proper guidelines. This coding system will allow you to quickly implement any changes needed so you are always working within the regulations. You will be able to meet your deadlines and stay connected with your clients and their needs.

    Enhanced customer experiences

    The customer is the most important factor in your business. Without a customer, your apps and knowledge are simply high tech nothingness. This system allows you to increase the speed that you work and improve the customer relations that you have.

    1. You have the data about your customers at your fingertips.
    2. You are able to stay on top of all regulation changes and inform your client if anything needs to be done with their accounts.
    3. You can meet the needs of your customers quicker and more efficiently.
    4. You have more time to spend relating to customers because your work is done faster.

    Low coding gives you the precise tools you need to get your job done effortlessly. You get the opportunity to increase sales, improve customer relations, and spend less time working.

    These coding systems are making a huge improvement in how you work and what you have to work with.

  • Why Technology Disruption Shouldn’t Mean the Death of Your Business

    Why Technology Disruption Shouldn’t Mean the Death of Your Business

    Technology disruption does not necessarily have to be negative. It is not an attack on business but rather a force that causes affected enterprises to rethink their operating strategies to remain in business. Those who choose to ignore the inevitable are swept into the abyss of irrelevance and end up folding up and shutting down.

    Those quick to notice the disruption early enough embrace it and make it work for them, realizing benefits and advantages hitherto hidden. The disturbance may even cause their businesses to grow more significantly than they were before.

    Technology disruption

    The emergence of rapidly evolving digital technologies has a profound effect on business models, and many businesses are cashing in on this transformation. A shift in the way of doing business, propelled by innovative technology and revolutionary business practices, is spawning new products and services.

    Digital products are appearing in the market in quick succession, disrupting existing markets and forcing entrepreneurs to re-evaluate their business models.

    How Uber revolutionized the taxi industry

    A good example is how Uber revolutionized the taxi industry in a relatively short time. Uber accomplished this by integrating technology with convenience, offering customers more comfortable payment modes and strategic pricing that enhanced business for the taxi driver. Uber’s global market share is a staggering 62 million trips per month as of July 2016. It operates in over 450 cities in the world.

    Trying to fight the technology disruption force is futile, and many taxi drivers in many countries, who wanted to fight it, were rapidly swept out of the market. In contrast, those who embraced the new technology thrived. The taxi industry has seen the rise of numerous other cab-hailing services using the Uber-style business model.

    How to overcome technology disruption

    Keenly studying market trends and keeping in touch with emerging technological advances can help your business remain relevant as you will be able to notice the signs of impending technology disruption. This knowledge will allow you to insulate yourself against any damage it may do to your business. You may change your marketing strategy, cut costs or review your operating systems to suit the new reality when it strikes.

    By embracing change and flowing with it instead of against it may open up new opportunities that can lead to greater success and growth of your business.

    Consumer needs are changing with the times, realizing new opportunities for you. Brands are updated and relaunched now and then to suit customer needs, and to keep yourself a step ahead of your customers ensures your brand remains relevant, locking down your existing customers and roping in new customers along the way.

    Here are a few steps your business can take to survive technology disruption:

    1. Overhaul your business model

    Once you notice the signs of technology disruption, do not act rashly or impulsively to try and mitigate it. Spare some time to plan your company’s future in the market by evaluating your priorities. As you reshape your business model, dump what may be bogging down your company and seek new opportunities.

    2. Embrace new technology

    By employing modern technology in the way you do business may be a bit expensive initially, but your savings in terms of operating costs may be astronomical. You may consider automating a product assembly line to increase output and bring down personnel costs.

    3. Develop closer customer contact

    Meeting customers on a personal level will boost customer confidence and inspire loyalty to your business or brand. Some businesses are investing in closer customer contact and reaping big. Sending company representatives to customer’s homes to see how they live or find out how they use the company’s products makes the customer feel valued and appreciated.

    4. Offer incentives to customers

    Your business should consider offering incentives to existing and new customers. Such incentives could include slashed prices, discounts and product coupons to endear you to customers looking for fair deals. This tactic drives demand, and with careful planning can keep you a step ahead of the competition.

    5. Plan for the next disruption

    You may have recognized and survived a technology disruption without much loss, but this should not lull you into resting on your laurels. Digital innovation marches stolidly on, with new products and services cropping up every day. Staying in tune with technological developments will ensure that you notice an impending disruption before it hits, adequately preparing you to deal with it effectively.

    6. Seek expert advice

    Businesses should not fear to acquire the services of experts due to cost. Companies looking to cash in on digital advances are more and more looking to update their business systems with the help of consultants or experts in the digital field. A consultation with the professionals at Wavestone US would be a worthwhile investment.

    Look out for the tell-tale signs

    All in all, businesses should always be vigilant to recognize signs of coming technology disruptions by closely following and analyzing business trends.

  • Here’s Why Your NYC Business Needs an IT Consultant

    Here’s Why Your NYC Business Needs an IT Consultant

    Installing and running new technology is a difficult thing for businesses. It takes a lot of work and plenty of resources. It may even take a professional to guide the team through this. However, most businesses are reluctant to hire an outsider. They may think that their team can handle it. And to some degree, this is true. Most professionals are trained in basic IT and it works well for a while. But for more complex processes, every business need someone more skilled in this area.

    For instance, business owners don’t want to hire an outsider because they think it will cost them a fortune or because they think that they won’t care as much about the results as their own team does. They may even fear that they won’t be secure.

    However, there’s no reason to fear hiring an IT consultant. They can help you in many ways, and some of them might even be surprising to you. Click here to learn more about what they do.

    Here are just some of the ways an IT consultant can be useful for your business.

    They can save you money

    So, you may not need a consultant every month. This is understandable because you won’t be changing things every single month and hiring a consultant to work for you all the time is an expensive endeavor. This is what most companies actually fear. However, no one is saying that you need an in-house IT consultant.

    Most NYC IT consultants charge based on the amount of work they do for you. For example, if you hire a consultant to install a new piece of technology or software and to train your team, they will charge you only for that. This, in turn, doesn’t amount to a huge price, but rather something manageable for every business. Not to mention that their skills and expertise are sometimes crucial to the success of your new system. Here are even more reasons why businesses hire IT consultants: https://www.themuse.com/advice/good-to-know-why-companies-really-hire-consultants.

    So, once they are done installing and training, you can run your system and then just call them if anything confusing happens instead of retaining them on the contract all the time.

    Better data security

    One of the biggest confusions businesses have – and one of their biggest fears too – is that a new system will harm their cybersecurity. But this is another area where IT consultants excel. They would be able to tell you which systems are safe, and which are not, they can identify the issues in the current system, and they can improve your security.

    IT consultants understand what the red flags and loopholes in your systems are, and where you could get harmed by a security breach. They have a substantial understanding of what it takes to protect a company from losing its data.

    This makes them uniquely qualified to train your staff on how to do their part in protecting your business and this ranges from simple passwords to numerous other elements.

    Hiring an IT consultant in NYC is a good step to take, especially when you suspect that your data may be in danger or when you have a breach. Internal professionals are often too busy handling day-to-day tasks that they have, and they can’t keep an eye on everything.

    Professional services

    One of the biggest advantages of hiring a consultant is that you will get advice from a skilled professional. There are so many things you probably don’t know that well and one of the best ways to learn is from someone who understands the subject very well. IT experts can help your business add new technologies and systems to your processes and operations.

    They may also be able to predict the trends when it comes to these technologies. As a result, they can help you change the way you work in order to be more flexible and more able to incorporate these new technologies when they come.

    IT consultants are excellent at analyzing the market and helping businesses meet their own needs with appropriate technologies.

    Better productivity

    Businesses are often most interested in ways to improve the happiness of their customers. The tech can help you achieve this, especially when you use it in a good way. Even more so than anything else. It can help your customer support teams have more time to focus on your customers and less on pesky administrative work.

    The technologies that we are using now are great at helping teams communicate with the customers in a simple and efficient way. However, the tech is also an amazing way to make your teams more productive and efficient.

    If you want your teams to be more productive, you could hire an IT consultant to give you insights into what systems have proven to be the best for this purpose. They would have market insights and real-life experience that will help you make better decisions on these systems.

    Of course, they offer a personalized approach for your specific needs, which is a perfect way to improve your business.

  • How To Ensure An Effective Online Whiteboard Session

    How To Ensure An Effective Online Whiteboard Session

    The team members of an organization find it significantly useful to collaborate and brainstorm with active whiteboard sessions. They are an excellent way of making content visually enticing and more comfortable to absorb while promoting productivity. Although whiteboards are pretty common in most of the office environments today and almost everyone knows its usage, there are a few useful methods of using a whiteboard for improving how you use them in meetings.

    Read further to explore a few ways for effective whiteboard sessions.

    Let’s understand online whiteboarding

    Online whiteboarding is the process of manipulating digital files and collaborating with team members on a digital visual whiteboard. An online whiteboard allows you to edit, share or comment on electronic documents during a video conference. They are used in different kinds of collaborative projects and facilitating discussions by writing and sketching on a shared space resembling a traditional whiteboard.

    Keep your focus

    It is imperative to have a clear picture and purpose during meetings. If you want to make it an effective one, keep everyone in a track by writing out the goal, the purpose of the meeting, and problems to be resolved on the top of the whiteboard. As a good practice, when using the whiteboard, write the meeting objective on the top of the board, which will be helpful for the attendees to stay focused on the list.

    Connect all the team members

    Although whiteboards are useful in collaboration and group discussions, remote team members can find it ineffective when calling through a video conference call. You might need to adjust the camera to various angles to view the whiteboard and that the meeting attendees in the room may be completely obstructing the camera’s view. To avoid such inconveniences, you can use a video conferencing solution that supports digital whiteboard capture to ensure that everyone can clearly see and participate in the whiteboarding session.

    Use the unused space

    Most of the online whiteboards come with a vast canvas that allows you to use the free space. With this, you get the opportunity to add enough content as you require. You don’t even have to erase them repeatedly for adding new content on the whiteboard. With the availability of some of the basic features like uploading visual files, documents, and videos, you can visualize all elements of a project on a single page. You can also make the screen go full, minimize the toolbar, and use the keyboard arrows for navigating through sections.

    Availability of individual screens

    To make an online whiteboard session effective, it is always advisable that all the team members log into the session through their own computers. Although a wholly dispersed team cannot log into their computers for such sessions, semi-distributed team members may log into the individual computers located in the same office.

    You can ensure an equal online whiteboard collaboration if everyone logs in individually with their computer systems. Moreover, you can eliminate the issues related to the adjustments of the camera angles and voice distortion in meeting rooms in the event of a video-conferencing session.

    Final thoughts

    Online whiteboards are a great way to take your online collaboration and communication to the next level. With the few strategies listed here, you can efficiently manage an online whiteboard session at every meeting.

  • 3 Reasons Why You Should Invest in Sales Engagement Software

    3 Reasons Why You Should Invest in Sales Engagement Software

    If your business focuses on selling to customers, you need to ensure that you are successful in that endeavor. Selling your products and making money is how you stay afloat. On the surface, sales is an incredibly simple tactic. Still, in practice, it is much more complicated and involved, and you may need sales engagement software to help you achieve your goals.

    If you’ve never considered adding this tool to your business, you should reconsider. In the current environment, both companies and individual customers are wary and tired of being sold to. It’s easier than ever to ignore ads and hang up on sales calls. If you can’t engage with people, your chances of making sales decrease.

    To grab customers’ attention, you need to turn away from generic messaging and make it more personal. Instead of focusing on aggressive tactics to close sales, you need to use authentic engagement tactics. You have to do all of these things while still maintaining an efficient and effective sales team. Thus, adding sales engagement software is critical.

    In general, sales engagement refers to any interaction or exchange between your business and potential customers. You need to understand the buyer’s needs and preferences to support them best. Below are the reasons why you need engagement software to help with this endeavor.

    1. Makes Your Engagement Personalized at Scale

    Making your engagement personal for every prospect may not be feasible. If you incorporate engagement software, you are given a variety of features that can ensure that you are still reaching the number of potential clients necessary while also personalizing the experience. You can accomplish this by setting up intelligent and automated follow-up sequences to drive better engagement.

    2. Uses Metrics and Data to Drive Sales Outcomes

    Data and analytics are important components when it comes to sales, and you need to use these to your advantage to make sales. When you incorporate sales engagement software into your sales strategy, you will be able to use this information to make your sales more effective.

    Using techniques such as A/B testing and identifying valuable leads means you’ll be able to spend more time engaging with customers who want what you have to offer. You won’t have to waste time with people who will never respond to your messages. With the right information, you’ll be able to create sales pitches and campaigns that will target the right customers and increase your sales.

    3. Combines Various Tools Into One

    With regard to engaging with customers, it’s important to give them a personalized experience, but they also need a consistent one. This builds trust and credibility with your company and brand, as well as lets your customers know that you care about and value them.

    Your organization has a lot of different departments, and they may all be involved with the sales process at one point or another. To ensure that everyone is on the same page and offering the same information and customer service throughout the process, using engagement software is necessary.

    It ensures that every department has the most up-to-date information and knows what steps were previously taken.

    Having everyone on the same page creates a more pleasant sales experience for your customers, and that means they’ll be happier and more willing to buy from you in the future.

    Make sure your business and sales team have the right tools to make sales. With engagement software, you can increase your bottom line and make customers happier with the process.

  • 5 ways Chatbots and AI are Changing the World of Education

    5 ways Chatbots and AI are Changing the World of Education

    Data and AI are changing the world of technology in quite a lot of ways. Newer AI-powered technologies are helping students take exams from the comfort of their homes. We do not need to go anywhere.

    People can gain access to advanced learning resources and assignments in a matter of a few clicks. Data-driven analytics allow users to get feedback in real-time. Things have become easier for people.

    Using online platforms like Studocu, companies and educational institutions have been able to provide people with personalized learning environments. The idea is to provide customers with solutions that put to rest the problems and challenges that are facing.

    Here is how AI and chatbots have been changing the world of education:

    1. Personalized learning solutions

    Yes, chatbots and AI have been able to provide students taking online courses with personalized learning solutions. The pace and the type and kind of instructional approach can be chosen by the user as per his/her personal requirements. AI seeks to help learners by providing them with what they want (exactly). With AI, you can simplify the complex tasks that you come across.

    Consequently, learners (no matter how fast or how slow) can continue with the tasks that are given to them at their own pace. At the end of each task and assignment, students can access additional learning resources in order to enhance their skills and expertise. After looking at these examples, it won’t be wrong to say that there’s a lot of room for chatbots and AI in education.

    2. Communication is quick

    Yes, communication is quite quick if and when you use chatbots. A large number of people have been using messaging services on the phone. The same idea has been employed while developing chatbots. Chatbots can be used to communicate with people across geographical boundaries.

    These chatbots work exactly the way platforms such as WhatsApp and Facebook Messenger work. You can drop a message and people can respond after they have read it. It is quite easy for our generation because we are used to online chat platforms.

    3. 24×7 help, and it is instant

    Instant messaging allows learners to seek instant help. The moment you get stuck, you can ask people for help. No need for you to wait for answers. You can flag your doubts and people will respond to them when they see them.

    Help can be gained easily. There is absolutely no need for you to worry. It can all be accessed in real time.

    4. Feedback is smarter

    With chatbots, teachers can provide students with personalized feedback using chat support. This helps increase the personalized aspect. Not just the assignments, but the feedback is also personalized. This allows students to get their doubts clarified without having to come into the limelight. An individual’s doubts can be cleared without actually leaving the room.

    With smarter feedback mechanisms, students can learn freely without the fear of getting judged.

    5. Updates are automatic

    Updates can be installed in chatbots automatically, which means you do not have to go for manual updates. Facilities such as these help save a lot of time. You can concentrate on your assignments as they get updated.

    All of the newer updates will be installed automatically without spending even a single penny. Chatbots offer you a lot of opportunities to interact with fellow colleagues while working.

    Final words

    AI-powered chatbots are here, and they are here to stay. You can make your life easier and convenient with chatbots. If you have not embraced them yet, then go for them as soon as you can.

  • 5 Reasons You Must Switch To A Cloud-Based LMS Today

    5 Reasons You Must Switch To A Cloud-Based LMS Today

    As corporate training becomes the new normal, the eLearning industry is coming up with innovative solutions to make it more accessible.

    While once, providing training to employees was an expensive affair that required dedicated hardware or software, a comprehensive training infrastructure, and the help of instructors, cloud-based learning management systems (LMS) have completely revolutionised the training space.

    Offering many of the same benefits as their installation-based counterparts, SaaS LMS providers are making corporate training more cost-effective and efficient than ever before.

    If you are still not using a cloud-based LMS solution, you might be missing out on some significant training-related benefits.

    Let’s look at a few benefits of cloud-based learning management systems that give them an edge over traditional LMS:

    Cost-effective

    Since SaaS LMS does not require any special hardware or software, it automatically becomes a cheaper alternative to traditional LMS. However, don’t let the lower costs trick you into thinking that these are any less efficient when it comes to delivering training.

    Cloud-based LMS is not just cheaper, their innovative features and customisation capabilities make them a cost-effective solution designed to help you squeeze out better ROI from your corporate training efforts.

    Accessible

    Once again, since there is no specialised hardware or software installation required, SaaS LMS are extremely accessible. Moreover, most SaaS LMS providers understand the importance of a user-friendly interface for their products.

    As a result, modern learning management systems allow users to easily access and interact with training material from any device, including mobile devices. The best part is that the benefits of this accessibility are not limited to the learners.

    Even instructional designers and learning administrators can access and update training material and assessment reports from any device that has access to the web.

    Consistent training experience

    With the increasing popularity of the remote working model, along with an increasing number of distributed teams in multinational enterprises, providing a consistent training experience to employees across the globe is a known training challenge.

    With the help of cloud-based learning management systems, this challenge can be overcome effortlessly. As all instructors and learners interact on the same platform, with the same learning material, they all get a consistent experience.

    Easy to deploy

    Unlike traditional learning methods, updating existing learning material or even deploying a fresh course is a matter of a few clicks. Sure, developing this training material still requires time and effort but once that is out of the way, a cloud-based LMS ensures your learners get access to the new or updated material in no time flat.

    This is especially advantageous for organisations that are already engaged in some sort of training activities and are considering switching to a cloud-based solution. Once your organisation is done signing up to the SaaS LMS provider of your choice, you can simply upload your training material to the cloud and begin rolling it out immediately.

    No maintenance responsibility

    Most SaaS LMS providers have their own maintenance IT team that looks after the health of their product. In most cases, the sale of their services comes with a guarantee of uptime for their product.

    Moreover, most LMS providers have dedicated teams that work tirelessly to fix bugs and glitches in their products. Many also have teams dedicated to developing and introducing innovative features that are designed to aid more efficient training.

    Conclusion

    Cloud-based LMS, much like other cloud-based solutions, offer a clear advantage over their installation-based counterparts. Do you still have any questions regarding SaaS LMS providers? Feel free to ask them in the comment section.