Technology

Why Your Brand Must Insist on Data Quality

Making a case for data quality of your brand is now more important than ever before. In this era of big data where every organization is hell-bent on laying its hands on as much data as it can, it becomes exceedingly important that you must be assured of the data quality you access. If the report by Forbes that the amount of data produced every day is 2.5 quintillion bytes should be taken into cognizance, then data is surely the next “crude oil” and data quality can’t be overemphasized. According to WhatIs.com, data quality is a perception or an assessment of data’s fitness to serve its purpose in a given context. On a daily basis, organizations depend more and more on data for their operations, data quality has, therefore, become a front-burner issue. SiriusDecisions reports that nearly 60 percent of marketers consider the overall health of their data unreliable.  Once your data quality is poor, expect an avalanche of problems. These problems range from inaccurate reporting to ill-conceived strategies.  Economic damages you have to shoulder due to poor data quality problems border on miscellaneous expenses such as demurrages and transportation fares when packages are wrongly shipped to other destinations right…

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Business, Technology

10 Reasons Why Your Brand Must Not Ignore ERP

Take an in-depth analysis, the result you get is mind-boggling, competition from the small, medium, and large scale enterprises can’t be further ignored. The global market has become your “next door neighbor” but fortunately, ERP has come to your rescue. An ERP (enterprise resource planning) system can be seen as the binding force that glues together the different computer systems for your brand. ERP applications ensure that the different departments in your brand are able to communicate and share data quite easily.  With ERP securely in place, you gather information about the activity and state of different divisions and make this information available to other component parts of the brand, where it can be used productively. ERP applications can help a brand become one workable unit by linking information about the production, finance, distribution, and human resources together.  ERP system is able to harmonize accounts payable, stock-control systems, order-monitoring systems, and customer databases into one system. A comprehensive look at the following 15 reasons brings to the fore why you can no longer ignore ERP. 1. Competitive edge You may be put off by the fact that ERP software requires a major investment, but the other side of the coin…

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Technology

7 Ways BI Can Accelerate Your Brand’s Growth

As an executive, manager, or corporate end user it’s your duty to on a regular basis take important business decisions that must be informed. You, therefore, need to be well-armed for this all-important task with BI.  Business intelligence (BI) comes as a technology-driven process for analyzing data and presenting actionable information with a wide variety of tools, applications, and methodologies that will enable your brand to assemble data procured internally or externally. The data you have so collected can then be prepared for analysis, developed, and even tested. Based on your outcome, you can go ahead to create reports, dashboards, and data visualizations to make the analytical results available for your corporate decision-making. With BI, you are assured of amazingly growing your brand in the following seven ways. 1. Accelerating and improving decision making BI puts you in the stead of avoiding cognitive heuristics whereby, you ensure that you don’t make decisions based on just very few information at your disposal or even making use of limited information when you have enough. You will not have to regularly make decisions based on just a few facts or what first comes to mind based on your previous experience and knowledge.  It’s…

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Marketing, Technology

Chatbots as Means to Creating Better Sentiment Analysis

For good sentiment analysis, you need data and tons of it. What better way to gather this data than through live-chatting up your customers and what better means than chatbots. Anybody into data analytics will want to tell you that social media has made the gathering of data relatively easy. However, the data you gather from this source can be misleading if you want to use it for sentiment analysis. Compared to decades ago when the only ways to gather insight on what customers wanted and how they felt about a brand were by knocking on their front door and asking, cold-calling them on their wall phone or sending them a survey with a self-addressed stamped envelope, the social media has brought about a revolution and deserves accolades for that. From any angle, you look at it, the job of gathering data before the advent of social media was labor intensive but the methods employed yielded accurate information. We can’t possibly go back to those days taking into consideration, the global population and technological advancements we can reap from. Taking social media monitoring (SMM) into account, it’s easy for you to conclude that today’s ready access to customer sentiment would…

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Technology

How to Checkmate 5 Top Cyber Threats to Live Streaming

One area of potential cyber attacks we have been overlooking is live streaming. This may be due to the fact that most streamers focus more on the entertainment aspect and do not see any reason for concerns as regards cyber threats. It’s therefore essential to take an in-depth look into these threats and seek out ways to checkmating them. 1. Stream sniping If you play a game on Twitch, then you may have been a victim of this attack one time or the other.   Stream-sniping which is the practice of playing a game against a streamer while watching their broadcast to gain an advantage by figuring out their position is nothing new for those who play games on streaming services for large audiences. What most players are advised to do is to set a delay; this option is not really a viable solution for streamers whose livelihood depends on engaging in real-time with their audiences — and often doesn’t even prevent stream-sniping anyway. While some may say they do it for the fun of it, stream-sniping is about one thing and one thing only: winning. The lengths snipers will go to locate their targets is pretty staggering and, in some…

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Marketing, Technology

3 Ways Sentiment Analysis Improve Your Marketing Scope

Quite often, you have come across situations where you really need to understand the intent behind a message and you’re completely lost. That is the time you need sentiment analysis to come into play. Sentiment analysis which is also referred to as opinion mining is an approach to natural language processing (NLP) that identifies the positive, negative, or neutral tone behind a body of a text. It entails the use of data mining, machine learning (ML), and artificial intelligence (AI) to mine text for emotions and subjective information. Sentiment analysis systems help brands to gather insights from unorganized, confusing, and unstructured texts that come from online sources such as emails, blog posts, support tickets, web chats, social media channels, forums, and comments. Mathematical calculations replace manual data processing by implementing rule-based, automatic or hybrid methods. Rule-based systems carry out sentiment analysis based on predefined, labor-intensive means while automatic systems learn from data with machine learning techniques. A hybrid sentiment analysis combines rule-based and automatic systems. Different types of sentiment analysis Fine-grained sentiment analysis: provides a more clear-cut level of segmentation by breaking it down into further categories, most often, however, this is broken down into basically very positive or very…

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