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The Impact of Big Data on ERP

Enterprise Resource Planning (ERP) systems play a crucial role in businesses. Unfortunately, not every firm has taken advantages of the benefits an ERP system can have on business. One such advantage that companies should learn to master with this tool is with Big Data. When integrated with Big Data, your ERP system can achieve better processes and drive substantially higher revenue. Marketing expert Mrunal Chokshi shares an article on Customer Think on the huge impact of Big Data on ERP. and why this integration is a necessity for businesses in today’s day and age.

  1. Understand customers better: What big data does is empower ERP systems with better insights and data, sourced from a variety of new sources, including social media.
  2. Better supply chain: When ERP is fortified with big data, companies gain access to insights into the supply chain, i.e., an in-depth overview of the processes, assets, etc. that can then be leveraged to streamline the movement of products across the entire supply chain.
  3. Sales forecasts: Any business needs to be able to make sound sales forecasts. And the duo of ERP and big data helps in this department as well by analyzing inventory and supply chain data.

 

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How Blockchain Will Revolutionize Healthcare

For over a decade, blockchain technology has made its way to the center of various industries, including, finance, gaming, healthcare, engineering and agriculture. By 2023, it is predicted  that the blockchain (and cryptocurrency) industry will reach well over $23 billion. Tech expert Joshua Esan shares an article on cointelegraph.com of the many ways this technology will revolutionize the healthcare industry.

Blockchain eliminates breaches in doctor-patient confidentiality. Patient confidentiality has been a long standing issue for many years. With the adaptation of blockchain technology, records can be safe and secure on digital ledgers, with patients given the option of who can access their personal information. Esan explains that this way, responsibility is maintained by the health professional, any breach of patient health information can be easily traced, and unauthorized third-party access to sensitive information can be eliminated.

Blockchain prevents medical errors. A study published by Johns Hopkins patient safety experts suggests that in the United States, over 250,000 people die every year due to medical errors (computer glitches, deleted/lost information or human error). Blockchain tech can only be added, not erased and that is a good thing. With this technology, Physicians can access the historical medical records of their patients from their very first hospital visit. Esan comments that Blockchain has come to effectively dissolve the dilemma of errors and digitize patient health records.

Blockchain improves research in medicine. The field of medicine is vastly dynamic, with health professionals constantly seeking new ways to improve patient care and satisfaction. However, there hasn’t been a centralized system for sharing research data. Embracing blockchain technology, a secure digital system, can help researchers worldwide, with patients’ permission, to have access an extensive database of information that would help accelerate improvement in healthcare.

Blockchain can help manage and prevent future pandemics. Esan explains the outbreak of COVID-19 puts the healthcare system to its biggest test in nearly a century. The World Health Organization is coming under increased scrutiny, false information is on the rise daily, and developing and sharing triage procedures has been tedious. The Center for Disease Control has already set up a project to use blockchain to track, store and disburse sensitive information in real time to health centers for effective and uniform management of pandemics. With this tool, ravaging epidemics like COVID-19 can be stopped sooner than expected.

Blockchain will help reduce health cost. According to a report published by Bisresearch, the adoption of blockchain in the healthcare industry is estimated to save up to $100 billion yearly by 2025. Via tokenization, the industry would take a tremendous drift toward complete transparency and accountability, and ultimately save money for both patients and healthcare companies. The inevitability of blockchain in every industry is gradually catching up with the healthcare industry. Without a doubt, both the medical practitioner and the patient stand to gain the most from this revolution.

 

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From Data to AI: How these 4 tech trends are reshaping healthcare

The healthcare industry is continuing to digitally transform the sector. Isaac Kohen at medcitynews.com shares an article about the trends in the tech industry that are reshaping healthcare and making a significant impact.

Bigger, Better Data – With the help of wearables and mobile devices, patient awareness and real time aid is readily available for patients and physicians. The article states, “When coupled with other data collection initiatives, healthcare providers have more and more precise data than ever before, and this will transform both the way patients and doctors communicate and the ways that providers can collect patient data.”

Data Privacy, Finally – With the incredible amount of data gathered, privacy is a top priority. Per the article, “Healthcare data breaches are increasingly common, and they are, by far, the most expensive of any industry. Privacy is poised to be a major theme in the year ahead.”

Accountability for Insider Threats – With the progress toward securing data a goal for healthcare providers, the accountability for insider threats will also be a topic. Per the article, “From accidental data sharing to intentional heists, healthcare providers are recognizing that the biggest threat to securing the mountains of data they collect isn’t defending against an outside, existential force. In the year ahead, healthcare providers will be accountable for insider threats.”

AI & Machine Learning Infiltrate Healthcare – The articles states that “AI and machine learning will make a significant impact in several ways, including:

  • Chatbots will provide medical advice.
  • Smartphones will deliver additional data for computational analysis.
  • Integrated data silos will open up new analytical possibilities.”

 

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The Top 10 Technology Trends In Retail: How Tech Will Transform Shopping In 2020

Technology is making its mark in just about every industry we know of. It helps create efficiencies, save money and provide better products and services. In retail for example, not only is technology making it easier for consumers to shop in store, online and on their mobile devices, but the softwares and processes are helping retail companies do business better. Strategic business & technology advisor Bernard Marr shared an article on Forbes predicting the top trends we might see in retail in 2020.

  1. Extended Reality – “Virtual and augmented reality offer retailers several ways to enhance the customer experience. From browsing products to virtually “trying them on,” extended reality is already in use by many retailers today such as Tilly’s, Ikea and Treasury Wines Estates. In the future, extended reality will eventually enable consumers to be able to share their virtual reality shopping experience with others.”
  2. Predictive Analytics (Big Data) – “Retail organizations have never had an issue collecting lots of data, but analyzing it and using the data to solve problems or create new solutions has been a struggle. Predictive analytics changes that. Now retailers can be proactive about the future by analyzing consumer behavior and trends from the past. Predictive analytics helps retailers be smarter, more efficient, and reduce costs.”
  3. Micro Moments – “Retailers who can meet customers “in the moment” have a powerful advantage. Thanks to direct digital access to consumers and powerful analytics capabilities, businesses can capture moments and help customers during their moment of need and even anticipate what a customer might need before they even know it.”
  4. Recommendation Engines – Another powerful tech tool for retailers is recommendation engines that help customers find things they never knew they needed and to help funnel options to a consumer at relevant times in their shopping journey. Retailers get to benefit from higher cart sales and improved customer satisfaction thanks to the ease of use. Amazon, Netflix, and Spotify are the recommendation engines you might be most familiar with, but many other retailers such as Best Buy use them too.
  5. Order Fulfilment Automation – “By the end of 2025, more than 580,000 autonomous mobile robots (AMR) will be deployed to help warehouses fulfill customer orders. Many retailers are scrambling to adjust to the “Amazon Effect” and are exploring order fulfillment automation to try to increase the speed and flexibility of operations in order to compete with Amazon. This automation can significantly reduce order processing times.”
  6. Face Recognition – “Many of the most successful retailers have online and offline presences. Facial recognition technology helps retailers proactively battle shoplifting and retail crime. In addition, it can bring the personalized online shopping experience to the brick-and-mortar location. When a customer is identified through facial recognition technology, the store staff can better respond to that customer’s unique needs.”
  7. Stock Management – “Automated warehouses help improve inventory control. Rather than wait for manual inventories, smart robotics and computer systems keep reliable stock data in real-time. This accurate data helps retailers manage stock flow, make solid predictions, smart decisions, and forecasting that help improve the store’s bottom line.”
  8. Robotic Store Assistants – “Another tech trend that’s changing shopping is robotic store assistants. Robots can help shoppers find the merchandise they are looking for and answer questions. They can even email special offers or coupons. Lowe’s has the LoweBot that helps with in-store customer service.”
  9. Customer Chat Bots – “There has been rapid adoption of messaging-based customer service bots across retail. Messaging has become the preferred customer service channel, so call volume will be reduced. Artificial intelligence bots will be able to improve the customer journey pre- and post-sales by lowering cart abandonment and help customers solve problems after the sale without human intervention.”
  10. Internet of Things (IoT) and Smart Equipment – “The Internet of Things and smart equipment will transform the shopping experience. Thanks to the volumes of data we have available and the ability to process it, consumers can receive a personalized shopping experience that wasn’t possible before. Today’s consumers want experiences that include personalization and information to help them make decisions.”

 

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How to make your CRM Big Data small

No matter the size of your company, businesses love to think big, and the way to do that is with the right customer relationship management (CRM) technology. It’s important to select the right CRM system for your business tailored to your needs, data, and expected outcome. Find a CRM that can scale your business’ customer data needs by following a few guiding principles.

  • Start with the basics
  • Focus on areas that benefit you most
  • Take advantage of new technologies

There’s no one size-fits-all CRM strategy for capitalizing on the big data. Choose a CRM for your business that not only serves your needs, but reflect your goals as well.

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Using Lawson and Big Data to Improve outcomes and reduce Employee Attrition

During this 50 minute webinar, hear from Big Data experts how your Lawson (and other data) can be used to improve outcomes and reduce employee attrition. The webinar will cover other big data related topics as well and there will be industry examples to suit all audiences. Some of the topics covered include:

What is Big Data?
    + How does it differ from BI?
    + How does it apply to your Lawson data?
    + What is possible? Examples and use cases
    + How and where to begin?

 

Nogalis Webinar: Using Lawson and Big Data to Improve outcomes and reduce Employee Attrition (May 3rd, 11 AM PST)

During this 50 minute webinar, hear from Big Data experts how your Lawson (and other data) can be used to improve outcomes and reduce employee attrition. The webinar will cover other big data related topics as well and there will be industry examples to suit all audiences. Some of the topics covered include:

What is Big Data?
+ How does it differ from BI?
+ How does it apply to your Lawson data?
+ What is possible? Examples and use cases
+ How and where to begin?

 

We use anymeeting for our webinars. The application sometimes asks you to install a plugin. In order to be ready on time. Please give yourself an additional 10 minutes before the webinar begins.

When: Thursday May 3, 2018

11:00 AM to 12:00 PM PST

This webinar is free to attend. Register Now

Is Data Socialization the Next Big Thing in Analytics?

Big Data has contributed greatly to today’s business revolution. With that, there has also been an attempt to tackle the continuous process of assuring that the approporiate decision makers have the right data. This is all a part of Data socialization. Rather than trying to use a top-down approach to impose data-directives, embedding data analytics throughout an organization and having measurable effects can be much more beneficial. “Liking” and “sharing” quality ideas can help the right people who’ll use them to make crucial decisions. This would ensure that updates and edits can be brought to their attention. It would also gives way to data stewardship which would make privacy and compliance  lot less stressful.

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Can Business Infrastructure Support the Growth of the Internet of Things?

Devices, systems and services continue to fuel the growth of the Internet of Things (IoT), which is estimated to reach $7.3 trillion in revenue by 2016 and over 50 billion connected devices by 2020. The inherent benefit of the IoT is convenience and speed of access to data, but this rapid and continuous growth raises questions about how well-prepared business infrastructures are for the increased influx of big data, which will apply more pressures on businesses and squeeze the supply of data center and cloud resources.  Due to the endless potential and priceless value of big data and in an effort to address supply ahead of demand, it is critical that CIOs consider latency issues and plan for where data will be housed and how data will be managed.

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CRM can help small businesses as well as large

CRM allows businesses to increase profitability by increasing the efficiency of closing sales and also by creating loyal, satisfied customers

“The small business CRM user will have a wealth of information to arm themselves with when approaching a prospect company with a new proposal,” said Mike Salem, CEO and co-founder of Vorex, a professional services automation software provider.

CRM can include key information that can allow sales people to contact decision makers and gatekeepers of prospective clients. This will allow the sales people to use their time more efficiently and have a higher chance of closing the sale.

Good information can be important to better understand customers. By understanding customers better, businesses can establish trust and deliver quality customer service.

“We’ve all had this experience: The second time we call into a company to buy a product or get support, we talk to a different person than the first time, and we need to re-educate the new person about our business or problem,” said Larry Augustin, CEO of CRM software provider sugarCRM. “It typically doesn’t lead to a good experience, and we, as the consumer, feel that the vendor doesn’t really understand us.”

“CRM solves that problem,” Augustin said.

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