We all know and agree with the fact that data is a crucial asset or perhaps the most crucial asset for a business. But is simply gathering and storing data enough? The answer is NO. Data becomes a key decision maker only when it is available for timely retrieval in a functional way. This is where Master Data Management (MDM) comes into play. Let us take a hypothetical business situation to gauge just how crucial MDM is.
Suppose an enterprise, operating in 18 countries, is planning to expand into more geologies. It has decided to launch its top 10 products for young buyers in the new markets, to begin with. Now here’s a simple question – how will the firm get all this data? They need detailed and accurate data related to:
Wednesday, April 17, 2019
Digital document repositories and paperless business pursuits have amplified the requirements of IT systems to be able to extract and store data fields, machine generated and hand written text and similar such items like scanned documents. No doubt, these systems make us more efficient, organized and save time in data retrieval. Despite this, the challenges pertaining to accuracy cannot be undermined.
In parallel, we have a world where RPA (Robotics Process Automation) is gathering critical mass and is being directed to not only automate low value activities but also drive the next wave of IPA (Intelligent Process Automation). Of course we understand that this will be enabled through investments in existing RPA solutions or integrating with products that provide a niche, however, when imagined as a package, it can precisely deliver near human intelligence. With ML (Machine Learning), the capabilities are only going to match or even exceed human potential.
Monday, February 18, 2019
Virtues of collaboration are well known and well realized. Good collaborations have won wars and brought major breakthroughs in different fields. The same stands true for the benefits that can be achieved in effective gathering and dissemination of organizational knowledge.
Is the organizational knowledge being adequately captured and not lost with employee turnover? Is the correct knowledge being documented for the use of the organization? How scattered is the knowledge? Are employees adopting the knowledge? Are they effectively using it? These and other challenges have enough potency to keep a knowledge manager awake at nights. These challenges can be effectively addressed by the use of collaboration tools and techniques. While each of the above-mentioned challenges would have mitigations, but experience shows that collaboration tools and techniques are equally effective.
Friday, February 05, 2019
Every industry sees a breakthrough in technology, market share and value creation backed by strategic partnerships. Be it manufacturing, IT or FMCGs, the creation of something new that can change the status quo has come with firms working together for their mutual benefit.
A strategic alliance is when company A and company B combine their respective resources, capabilities and core competencies to generate mutual interests in the form of creating value, efficiency in operations or gaining market share. Business level corporate strategies for alliances, allow companies to obtain knowledge (by means of R&D, complementary technology, intellectual property), gain markets (gathering data on market research, customer base), fill value gaps (offering one stop solution for expressed customer needs) and obtain efficiency (achieving scalability and outsourcing non-core functions).
Friday, January 04, 2019
Think of your favorite dish ( well I would take the example of butter chicken – pardon all vegetarians) and now would you like to eat it in a big deep dish with a spoon which is big & long enough to fetch kites from the sky.
The answer unless you are famished would be a definite NO.
Now another thing that we encounter every day – debates/ different point of view. Take a simple example, a child say about 10 years want to eat burger; Father will not allow as it causes obesity and simply shouts on the kid. He will never understand that as he is looking other kids eating it – But let’s try making him understand through a perspective which child is more align to – Tell him that yes burgers are tasty but eating them can lead to being fat & then he cannot outrun his friends in a game. The chances are positively bright that he would understand it.
Therefore, what does these two examples tell us -?
Thursday, July 10, 2018
There is no doubt that digital technologies are changing the way we perceive products and services. These technologies have already disrupted many industries and many other are on its radar. Digital has paved its way to touch every small aspect of businesses.
Business which takes place in the balanced economy, wherein supply meets demands through buyers and sellers, digital is changing the way these businesses operate.Uber, disrupted the market with on the go, on demand cab services, offering a product from an automobile company in the form of car as a service. Similarly Airbnb, Foodpanda, Zomato, and Facebook have changed the way traditionally businesses used to be.
Customers have more ways to reach out to the brands they love, thanks to mobility. They can now access data on the go from anywhere, thumbs up to cloud. This has enabled creating a mini eco system within an individual itself.
Wednesday, May 16, 2018
The thought that one day humans will be replaced by some algorithm driven AI tool, when it comes to customer service disturbs me, but considering that I would be called a stone-age man if I don’t acknowledge this.It makes me think – is it really feasible?
The answer to my question seems to be dangling between a perpetual growth between technology and the concept that no machine can ever replace the emotional quotient of a human being.Use of AI or RPA (I say a distant older cousin of AI) in customer service is trending, however saying that it will remove human interaction completely is something that is certainly not happening (at least not in a future that would be seen by me and perhaps my grandchildren too).
Now, we all know that a pre-programmed algorithm or/and AI tool can certainly accelerate the process of finding a train ride for you between stations, which you usually travel and can also recognize that you are ...
Tuesday, April 24, 2018
Technology has moved out of the back office to become a critical business enabler. This shift is increasing the pressure on the Service Desk to provide a faster, more flexible service that responds better to the needs of users and the organization. Meanwhile, the relationship that workers have with technology is changing as consumerization has altered users’ expectations of the IT support experiences they should receive at work.
Furthermore, the growth of cloud technology and shadow IT, together with initiatives such as “bring your own device” (BYOD), “corporate-owned, personally enabled” (COPE) and “choose your own device” (CYOD), means that the Service Desk no longer has full control over the systems and technologies it supports.
TechM helps organizations derive increasing value from technology with low upfront investments. Our Service Desk has the capability to support various technologies that the business has chosen to use at any given point, frequently changing IT preferences as the digital environment continues to evolve.
Wednesday, April 11, 2018
MAC — Mobility, Analytics and Cloud —an abbreviation which has become quite popular these days and reflects the most popular technologies of today. With mobility, plethora of products have gone wireless and can be used on the move. Databases, have evolved from being structured and limited in size to unstructured and scalable to accommodate for data generated by over 4 billion mobile devices across the world. Maintaining such huge database servers is expensive and hence cloud is the first choice for data storage.
With everything being available to end customers at their fingertips, businesses are competing neck-to-neck to make the best offer to each customer.
With customer data available through various sources, businesses can actually offer products/services tailored to meet an individual’s choices, based on behaviour, buying patterns, etc.
Friday, March 23, 2018
AI, Machine Learning, Automation, Analytics, Digital, disruption.If you’re in the tech space, these words have taken over your life and if a multitude of experts are to be believed, they’re soon going to take over the world! As a marketer, the pertinent question I keep thinking of “What will be the impact of AI and wider technological advances on marketing Is marketing immune? Or will it adapt and not be disrupted? Will our jobs vanish and most of our functions be automated? Here are a few points that will throw light on thiese contentious questions.
Personalization in marketing isn’t a new concept. The same brands are marketed differently across various geographies by global corporations to effectively communicate and position their benefits.But now, with the advent of fast advancing AI and robust analytics, brands can tailor their messaging maximizes effectiveness.
Social media platforms like Facebook and Twitter already use targeted advertising as their main revenue generator but going forward advertising messages will be tailored to your profile and past interactions.
Monday, March 5, 2018
Protecting Consumer Data and Avoiding Ransomware, Equifax, and UBER-like data Breaches
I get spooked when I get cold calls from random companies asking me, “how is your stock trading experience so far” or when I am planning for a trip abroad and get emails from banks offering forex cards to me. Last year my husband submitted documents to open a salary account with a bank and they also used his documents to issue a credit card, without his consent. This would concern many of you too, I am sure.
The Equifax data breach has exposed credit information of 143 Million Americans. What if the hackers used this data to get loans or credit cards in the names of these Americans, who cannot do anything about it? They will have to live in this fear all their life. This is the kind of exposure that every consumer needs to be guarded against and is rightly addressed by GDPR (General Data Protection Regulation).
Wednesday, February 14, 2018
The notion in everyone’s mind is that growth in business means a definite increase in the workforce and unless that happens no business can grow. Some would say that they don’t think that way and probably this is no longer a thought process and it is old school, but if you ask me - this thought process still exists.
Now, me being from Outsourcing industry and been here for the last 9 years, I have seen things happen - seen growth and I am reluctant to say that overall business growth is equally proportionate to organic growth. In simple words I can say that an easy way to grow is by acquisition and subsequently organic growth. Sounds very easy isn’t it?
But like every coin, this one has a flip side too. We do get growth when done organically but it comes with many issues related to human resource management, infrastructure management and this also leads to increase in operational costs pertaining to infrastructure and people management.
Wednesday, January 31, 2018
It's quite incredible how James Bond manages to get out of a big mess whenever there seems to be no end to his miseries. But somewhere in the plot, he is also privileged in getting access to many futuristic gadgets that are at his disposal. Agent 007 is bestowed with special help through these smart gadgets and as such boasts of no special powers by himself. Of course, he is smart and therefore relies on smart devices and many of those are a reality today. We see it in the form of a smart wristwatch, smart camera, touch screen and more.
We all need a little help for making our lives faster, simpler, and better. No longer a piece of fiction, personalized help and connected experiences have gone beyond Bond and entered our backyards. Technology is no longer restricted to gadgets we can hold or feel. Today, it comes imbibed in the way we get to access information today.
Riding on the smartphone wave, smartphones managed to go from less than 5 percent in 2010 to almost 25 percent in 2013. By the end of 2016, smartphones came to occupy close to 46 percent of web traffic.
Wednesday, January 17, 2018
The first thing that came to my mind when I read about 3M was Scotch tapes and Scotch Brite, things that you can't think about as innovation but they are as genius an invention as a light bulb or AI. These names make you think, no innovation is small, if it finds the correct market and right marketing.
One more interesting thing is that in 1974, 3M scientist Art Fry came up with a thought if he could apply an adhesive to the back of a piece of paper, he could create the perfect bookmark, one that kept place for his church hymnal. He called it the Post-It Note. Wow!
What makes it more awe inspiring is the fact that the organization was ready to back up such innovations, which if seen as something new may not be of much importance, but what you see when you wear the entrepreneur's hat: It's a product that is simple to use, easy to develop, fast to manufacture, and can be a household item.
Thursday, December 28, 2017