#1 Technology & Innovation Company In The Region https://inifyetechnologies.com Value Innovation Through Technology Fri, 03 Jul 2020 11:48:39 +0000 en-US hourly 1 https://wordpress.org/?v=5.4.1 Ecommerce Design Guide – Your Source of Web Design Inspiration https://inifyetechnologies.com/ecommerce-design-guide-your-source-of-web-design-inspiration/ https://inifyetechnologies.com/ecommerce-design-guide-your-source-of-web-design-inspiration/#respond Fri, 03 Jul 2020 11:48:35 +0000 https://inifyetechnologies.com/?p=1653 our website is nothing less than your revenue channel, and the way it is designed largely defines how profitable this channel is. With the ground rules for designing converting ecommerce websites outlined, you will be more informed to shape and communicate your design needs.

The post Ecommerce Design Guide – Your Source of Web Design Inspiration appeared first on #1 Technology & Innovation Company In The Region.

]]>
Once you have a competitive product or service and sell it at a reasonable price, the next thing that matters to your ecommerce business success is the customer experience provided. Website design is its vital part as customers interact with your company via the website and often don’t set the two apart. Therefore, a digital experience designed on the website equals your company’s image in the minds of your customers.

More reasons why website design is worth taking seriously

The role of design goes far beyond the website look. Professionally designed, your online store obtains:

  • Branding strength. A website is your opportunity to tell customers how your company positions itself on the market and what values or social views it supports.
  • Enhanced website usability. Design always starts with the UX part to plan each type of customer interaction within the website. What you win is minimized user efforts whenever is possible and increased meaningful engagement with the site content.
  • Technical excellence. Modern websites are responsive to render well on different screen sizes and provide for convenient viewing and shopping experience across devices. Also, they are mostly designed with SEO purposes in mind to support your customer acquisition plans down the road.
  • Technology advances. When reasonable, your website design is planned with the latest technologies and approaches in mind (like AR or on-site personalization). Since not all are worth adopting for your business, you should have the ROI of each technology integration estimated to opt for the most rewarding ones.
  • Different conversion funnels planned. A classic conversion path leads customers from product discovery directly to online buy. But customers don’t always behave as you expect, so professional web designers plan and map on the website more complicated journeys with half-way conversion points such as:
    • Upsells and cross-sells.
    • Wish list.
    • Email subscription.
    • Promotional banners.
    • Downloads.

Design elements to add to core ecommerce pages

An ecommerce website may house any number of SKUs and generate any traffic volume – disregarding the size, it always has several typical page types to design.

Ecommerce website design

Homepage. As the most frequent landing page in ecommerce, the homepage pursues a fundamental goal – to entice customers to start a shopping journey. Hence, design elements must:

  • Establish a brand identity: brand message, mission statements, trust builders.
  • Provide for easy navigation: a properly organized product menu, shortcuts to products with the highest selling potential.
  • Trigger immediate interest: promotions and deals, customer service perks.

Catalog page. On a catalog page, you don’t only showcase your products – you start selling them. To prompt customers to product discovery, you should:

  • Help customers find the products of interest: product filtering.
  • Give a quick view possibility.
  • Instill product quality: a summarized product rating, a number of product reviews.
  • Offer alternatives of further actions: add to shopping cart or wish list, save for later.

Product page. Customers are already interested in your product. It’s high time to take the stress out of the decision-making process and:

  • Give comprehensive product information: product description, assembly tutorials, user guides.
  • Be illustrative: product images, videos, demos.
  • Help to select the right product configuration: a size chart, a size guide, product builders.
  • Enhance product credibility: product reviews, social media tags, product labels (‘bestseller’, ‘influencer’s choice’).
  • Advertise similar products: cross-sells.
  • Offer personal assistance with the product choice: live chat.

Shopping cart. This page is an intermediate step between a customer’s buying intention and an actual buy. Planning its design, remember to:

  • Give a summary of selected products: quantity, parameters, price.
  • Outline delivery options and costs.
  • Allow customers to edit the order.
  • Offer complementary products: upsells.

Checkout. The best practices in checkout design dictate to:

  • Ask for account registration and give an opportunity of guest checkout alike.
  • Simplify fill-in forms not to demand much of a customer’s time.
  • Offer several payment options.
  • Give estimated delivery time depending on the delivery option selected.
  • Inform customers about what happens next: you send an email with confirmation details, customers can track the order progress in their personal account.

Non-catalog content page. Your content marketing strategy may require diverse content types: a blog, lookbooks, tutorials, deep product dives, interviews, etc. Though designed differently, they all bring you customer engagement and even impulse conversions if you:

  • Softly sell your expertise or product value.
  • Openly advertise relevant products that fit the information you share.

Check the correlation between sales and website design

It often happens that an ecommerce company follows general design recommendations and invests a lot in customer acquisition marketing, but the conversion rate remains low. So, here is a very important question to answer before giving way to redesign hassle: ‘Does my design hinders sales?’

Given the abundance of interactions throughout a customer life cycle, ways to frustrate customers with poor experience are numerous too – from a consistent shortage of their favorite products to delays in order delivery. In both cases, customers will end up with a competing company. If you suspect design issues, there are several ways to confirm whether they directly impact your sales volume.

Investigate web analytics. If the analysis shows high traffic generated by your SEO efforts and marketing activities, yet a high bounce rate and short dwell time not ending with conversions at any of your planned points, the digital user experience is obviously flawed. Your website design doesn’t inspire trust, and its usability is begging for improvement.

Request an independent design audit. While UI design is largely a matter of subjective opinion, the UX part can be expertly assessed by designers. Upon audit completion, you get a report with UX flaws uncovered and can make a redesign decision deliberately.

Assess your website experience against web design trends. As for digital user experience and beyond, ecommerce has become truly customer-centric. In website design, trends demand enjoyable experience tailored and convenient for diverse customer groups. Your customers don’t lower their expectations and want from you the same design excellence.

Where to focus your redesign efforts

Even if you are not up for large investments into full website redesign now, you may apply improvements to certain aspects that won’t go unnoticed by your customers. Here are shortlisted best practices for ecommerce web design.

  • Use quality product images, zoom-in, videos, 360-degree views, 3D models.
  • Take after a real-life shopping experience with augmented reality.
  • Ensure elaborate navigation, filtering and search experience.
  • Go for clean and spacious UI with a light background, which resonates with a larger audience.
  • Add on-site personalization to serve customers relevant content, promotions and product recommendations.
  • Make the website responsive to various screen sizes.
  • Don’t break design consistency across the website.
  • Avoid visual clutter.

Ecommerce design examples for inspiration

Each product and service line in ecommerce bears its design specifics – some spark designers’ creativity while some demand for a minimalist approach.

LOQ – Fashion website design

Example of fashion ecommerce website design https://inifyetechnologies.com/

https://www.loq.us/

MatchaKari – Food & drinks website design

Example of food ecommerce website design https://inifyetechnologies.com/

https://matcha.com/

Olathe Health – Healthcare website design

Example of healthcare ecommerce website design https://inifyetechnologies.com/

https://www.olathehealth.org/

The Future Perfect – Furniture website design

Example of furniture ecommerce website design https://inifyetechnologies.com/

https://www.thefutureperfect.com/

LifeWise – Pet supplies website design

https://inifyetechnologies.com/

Design specifics for B2C and B2B ecommerce

Not only a product line, but your business model also impacts the digital experience to design on a website. Study the highlights of B2C and B2B website design rules below illustrated with interactive demos created by ScienceSoft’s team. Don’t miss to play them in the first place!

B2C website design – bet big on convenience and personalization

  • Personalize website content, promotions and recommended products for customer segments and individuals.
  • Encourage impulse buys with content marketing, upsells and cross-sells.
  • Facilitate a customer’s search across the website.
  • Offer guest checkout.
B2C ecommerce demo

B2B website design – bet big on trust and loyalty-building

  • Integrate custom pricing and automated discounting depending on order volume.
  • Add a possibility of shipment to multiple addresses.
  • Offer flexible payment options (including trade credit).
  • Design a comprehensive personal account with role-based management and a quick reorder possibility.
B2B ecommerce demo https://inifyetechnologies.com/

The post Ecommerce Design Guide – Your Source of Web Design Inspiration appeared first on #1 Technology & Innovation Company In The Region.

]]>
https://inifyetechnologies.com/ecommerce-design-guide-your-source-of-web-design-inspiration/feed/ 0
Microsoft Azure – Cloud Cradle for Your Small Business https://inifyetechnologies.com/microsoft-azure-cloud-cradle-for-your-small-business/ https://inifyetechnologies.com/microsoft-azure-cloud-cradle-for-your-small-business/#respond Thu, 02 Jul 2020 10:20:56 +0000 https://inifyetechnologies.com/?p=1650 Microsoft Azure is definitely worth considering when a small business decides to go for the cloud, especially if they already use Microsoft products like Windows or Microsoft Office (which also excludes double pricing for the existing licenses). If migration is performed properly, Azure ensures the high availability and security of your infrastructure assets and reduces your IT costs.

The post Microsoft Azure – Cloud Cradle for Your Small Business appeared first on #1 Technology & Innovation Company In The Region.

]]>
Moving your IT environment to the cloud is a sequence of decisive steps on your way to the IT infrastructure’s scalability and security. Once you migrate successfully, you cut down on your IT expenditures as opposed to maintaining an on-premises infrastructure. However, a small business on the edge of migration faces the initial challenge of the right choice of a cloud vendor. To help you make an informed decision, I share the advantages of Microsoft Azure, one of the leading cloud providers.

Easily managed data storage

Azure provides opportunities for scalable storage to meet the growing data and performance needs of a small business. Azure Blobs allows such scalable storing of unstructured data and can be powered with big data analytics capabilities when the need arises. And with another Azure Storage product, Azure Files, and the SMB protocol it supports, you can perform swift data migration to the cloud with no coding involved.

Seamless integration with Microsoft SaaS products

Azure-hosted apps can integrate with Microsoft’s SaaS tools to increase the productivity of your employees and provide advanced analytics. For example, you can embed SharePoint functionality in your Azure environment to build up task management or document processing workflows for your team or leverage the broad analytical capabilities of Power BI to get insights from your data stored in Azure.

Secure and backed-up email system

With Azure, small businesses can get a maintenance-free cloud-hosted email server (Microsoft Exchange Online) synced with Azure Active Directory for backup and access management. With Exchange Online, you do not need to update your email servers manually to get the up-to-date functionality. You have antispam and antimalware protection already included together with the support of mailboxes up to 50 GB each and access to the email service from mobile devices. Doubt Azure is the Most Feasible Choice?

Highly performing websites and web apps

Azure features the globally spread Azure Content Delivery Network (CDN), which routes data streams to/from the geographically closest Azure servers, thus reducing response latency of your web resources. The edge servers of Azure CDN automatically scale up to handle traffic surges. On top of that, Azure CDN includes advanced analytics features to monitor traffic and user engagement.

Backup and recovery

Azure Backup makes snapshots – images of your system’s actual state – to restore the data and operability of your cloud services and apps as of the snapshot timestamp. With Azure, you can schedule backups and ensure the security of backup data with data encryption and multifactor authentication.

Information security

You can secure your Azure environment with advanced access management via Azure Active Directory and firewall services. Also, there’s Azure Security Center, which carries out continuous security monitoring across your Azure environment (manually deployed Log Analytics agent supports hybrid environments) and alerts you about misconfigurations and threats as well as about how to remediate them. Besides, Azure-based infrastructures support HIPAA compliance, which means that Azure services are recognized suitable for secure storage and processing of protected health information.

Capabilities for fast migration and development

Azure offers free tools for lift-and-shift infrastructure migration and provides services (e.g., for IoT, AI, machine learning, and blockchain) for the facilitated rebuilding of your legacy apps for which such migration is inapplicable. Check our project of accounting software migration to Azure, to see how rebuilding legacy software with Azure services can ensure its smooth migration and enrich its functionality.

The post Microsoft Azure – Cloud Cradle for Your Small Business appeared first on #1 Technology & Innovation Company In The Region.

]]>
https://inifyetechnologies.com/microsoft-azure-cloud-cradle-for-your-small-business/feed/ 0
How to choose the best digital platform for your bank https://inifyetechnologies.com/how-to-choose-the-best-digital-platform-for-your-bank/ Wed, 01 Jul 2020 11:58:05 +0000 https://inifyetechnologies.com/?p=1644 Dіgіtаl trаnsfоrmаtіоn fоr а rеtаіl bаnk may rеquіrе а new approach to providing customer service and managing the bank’s employees. Оf соursе, thіs approach wіll bе unіquе tо еасh bаnk, аnd dеfіnеd bу іts rаngе оf рrоduсts аnd sеrvісеs, соrе bаnkіng sуstеms, ІТ budgеt аnd the vіsіоn of а dіgіtаl futurе.

The post How to choose the best digital platform for your bank appeared first on #1 Technology & Innovation Company In The Region.

]]>
Dіgіtаl trаnsfоrmаtіоn fоr а rеtаіl bаnk may rеquіrе а new approach to providing customer service and managing the bank’s employees. Оf соursе, thіs approach wіll bе unіquе tо еасh bаnk, аnd dеfіnеd bу іts rаngе оf рrоduсts аnd sеrvісеs, соrе bаnkіng sуstеms, ІТ budgеt аnd the vіsіоn of а dіgіtаl futurе.

In this article, we discuss what options for going digital banks have and what challenges they can meet on the way to digitalization.

Digital transformation of banking

Challenges of mоvіng tо а dіgіtаl рlаtfоrm

1. Failures in upgrading outdated banking software

Fоr nеwеr dіrесt bаnks аnd fіntесhs thіs іs nоt аn іssuе, bесаusе thеу, in all probability, hаvе stаrtеd оut аs dіgіtаl-оnlу busіnеssеs. Ноwеvеr, еstаblіshеd multіnаtіоnаls аnd lаrgе bаnks wіth hundrеds оf brаnсhеs аrе fасеd wіth а mајоr сhаllеngе. Тhеу hаvе іnvеstеd іn hugе mоnоlіthіс bаnkіng sуstеms thаt аrе wау раst thеіr sеll-bу dаtе. Тhе соrе tеаms thаt іmрlеmеntеd аnd mаіntаіnеd thеsе sуstеms hаvе rеtіrеd, bееn rеtrеnсhеd оr lеft, аnd thе rеmаіnіng suрроrt hаs vеrу lіttlе knоwlеdgе оf hоw thе sуstеm асtuаllу wоrks.

Тhіs situation сrеаtеs hugе operational rіsks аnd possible sуstеm fаіlurеs, which may result in total loss in reputation. А саsе іn роіnt іs Rоуаl Ваnk оf Ѕсоtlаnd’s mаssіvе sуstеm fаіlurе іn 2012, fоr whісh thеу wеrе fіnеd £56 mіllіоn. Аt that tіmе, Сhіеf Аdmіnіstrаtive Offісеr Ѕіmоn МсΝаmаrа рlеdgеd thаt аnоthеr ІТ dіsаstеr thаt wоuld lеаvе mіllіоns оf сustоmеrs unаblе tо mаkе рауmеnts wаs ехtrеmеlу unlіkеlу, оnlу tо hаvе а sіmіlаr оutаgе 6 mоnths аftеr thе fіnе wаs lеvіеd іn 2014.

2. Failures in meeting compliance regulations

One of the biggest advantages of going digital, the ease with which their customers can get necessary services, poses serious challenges in terms of compliance. Thus, digital banks should develop a whole new strategy to meeting regulations as, for example, Know Your Customer (KYC) rules and the rules for tax reporting under the Foreign Account Tax Compliance Act (FATCA).

Аvаіlаblе орtіоns: Buіld, buу, acquire оr раrtnеr

Роssіblе орtіоns fоr а dіgіtаl mіgrаtіоn dереnd оn thе sіzе аnd the аbіlіtу оf a bаnk tо mаkе thе nесеssаrу сhаngе. Тhеrе іs аlsо а dесіsіоn tо bе mаdе оn whеthеr tо орt fоr а соmрrеhеnsіvе рlаtfоrm  оr dіgіtіzе оnlу оnе аsресt оf thе busіnеss аt а tіmе.

Вuіld уоur оwn рlаtfоrm

A custom solution is a good option for banks that hаvе thе rеquіrеd ІТ сарасіtу аnd thе budgеt tо develop their own digital platform. ВВVА banking group іs оnе оf thе bаnks thаt tооk thіs rоutе, јustіfуіng thіs аррrоасh bесаusе thеу wаntеd tо bоth hаvе thе рlаtfоrm thеу nееdеd аnd thе undеrstаndіng аnd соntrоl оvеr hоw іt works. Ѕmаllеr bаnks mау fіnd it а vіаblе орtіоn іf thеу саn fіnd suіtаblе раrtnеrs.

Вuу а ready-made solution

Buуіng а ready-made platform іs а gооd орtіоn in case you opt for speedy trаnsfоrmаtіоn. Although, there іs quіtе а lоt оf wоrk іnvоlvеd іn gеttіng уоur рurсhаsе tо ореrаtе аs rеquіrеd, whісh wіll need the help of professional соnsultаnts.

Аs оnе wоuld ехресt, mоst vеndоrs оf dіgіtаl bаnkіng рlаtfоrms hаvе bееn ореrаtіng іn thе bаnkіng ІТ sрасе fоr sоmе tіmе, еіthеr іn thеіr сurrеnt іnсаrnаtіоn, lіkе Оrасlе, ТСЅ, Іnfоsуs аnd ЅАР, оr vіа а sеrіеs оf асquіsіtіоns, lіkе Fіnаstrа, whісh hаs rесеntlу асquіrеd Міsуs аnd D&Н. Тhеrе аrе аlsо nеwеr соmреtіtоrs, lіkе Васkbаsе, whісh іs grоwіng rаріdlу оn thе strеngth оf іts рrоduсt. For example, АВΝ Аmrо іnvеstеd іn Васkbаsе’s оffеrіng, аs dіd sоmе оthеr lеаdіng bаnks.

Раrtnеr wіth а соmраnу buіlt оn а dіgіtаl рlаtfоrm

Ѕоmе bаnks hаvе сhоsеn thіs орtіоn, сrеаtіng а раrtnеrshір wіth а dіrесt bаnk оr а fіntесh. For example, Fіdоr Ваnkраrtnеrs wіth Сurrеnсуclоud, a glоbаl рауmеnts рrоvіdеr.

Acquire а bank with a digital рlаtfоrm

Тhіs іs the strategy that may work for large multinational banks: іf уоu саn’t bеаt thеm, buу thеm. Тhіs іs whаt Ѕсоtіаbаnk dіd whеn іt асquіrеd ІΝG Dіrесt online bank, nоw ореrаtіng аs Таngеrіnе. Аlthоugh Таngеrіnе hаs аutоnоmу іn іts ореrаtіоns, іt іs а whоllу оwnеd subsіdіаrу. Ѕіmіlаrlу, Frеnсh bаnk ВРСЕ hаs асquіrеd Gеrmаn dіrесt bаnk Fіdоr.

The post How to choose the best digital platform for your bank appeared first on #1 Technology & Innovation Company In The Region.

]]>
What is Digital Transformation? https://inifyetechnologies.com/what-is-digital-transformation/ https://inifyetechnologies.com/what-is-digital-transformation/#respond Sun, 07 Jun 2020 21:26:23 +0000 https://inifyetechnologies.com/?p=1634 More and more, exceptional customer experience is a key differentiator in digital business, and the process of digital transformation should be guided by a customer-centric digital strategy.More and more, exceptional customer experience is a key differentiator in digital business, and the process of digital transformation should be guided by a customer-centric digital strategy.

The post What is Digital Transformation? appeared first on #1 Technology & Innovation Company In The Region.

]]>
Digital transformation is the process of rethinking one’s business model or business process in light of the availability and affordability of digital technology. It requires coordination across the entire organization since it applies new technologies to fundamentally change the way business is done. For many enterprises today, the driving motivation of digital transformation is the chance to gain competitive advantages by improving customer experience.

Technology Advances Created the Age of the Customer

More and more, exceptional customer experience is a key differentiator in digital business, and the process of digital transformation should be guided by a customer-centric digital strategy.

According to Forrester, technology advances in the past five years have created the “Age of the Customer”, in which consumers choose when and how they interact with businesses. Companies today can’t fully control the experience they want to deliver to customers; instead, customers encounter businesses across many touchpoints with high expectations of consistency, ease of use and personalization.

It is up to businesses to use new technological capabilities and organizational change to create experiences that adapt to these changing needs. More and more, exceptional customer experience is a key differentiator in digital business, and the process of digital transformation should be guided by a customer-centric digital strategy.

Key Elements of Digital Transformation

Digital transformation is enabled by new technology, but successful transformation requires a reorientation that goes beyond the implementation of new technology to reach every part of the business.

MIT Sloan Management Review has identified three pillars of the transformation process for companies to focus on: customer experience, operational processes and business models. Companies also need to invest in and develop their digital capabilities, as this element enables digital transformation in each of the three main pillars.

Customer Experience

Advances in marketing software and data-gathering capabilities allow for better customer insight and greater personalization in digital experiences. Enterprises are pursuing transformation in the following ways:

  • Managing personalized experiences across channels that are easy and seamless for customers to use.
  • Developing digital products and services for new devices, such as smart watches.
  • Drawing in data at every touchpoint and using that to deliver more effective personalization.

Operational Processes

It can be tempting to think of front-end customer experience as the main focus of digital transformation, since that’s the most visible part of the process. However, using technology to redesign operational systems has just as much, if not more, impact on a company’s ability to successfully provide great experiences.

For example, a customer getting their package sooner means a more positive impression of the company, and having a representative already know what specific problems a customer is having, because the product sends diagnostic information over the internet, allows for shorter call times and faster solutions. Companies are successfully transforming operations by:

  • Breaking down departmental and data silos for better collaboration on digital projects, such as including both IT and Marketing on product teams so that both departments are fully informed during the process of design, strategy and development.
  • Automating processes through better software capabilities or with the creation of new tools, such as implementing automated purchase order systems in order to reduce paperwork and rejected orders.
  • Making strategic decisions based on data with increasing levels of detail. Instead of reusing or modifying a previous year’s distribution process, for instance, leaders are able to make changes based on real data, rather than assumptions.

Business Models

Often, startups are able to disrupt long-standing brands because they use innovative business models that take advantage of new technology, without being weighed down by legacy systems. Established brands should look to models that offer services that wouldn’t be possible without new technology. Examples of new business models are varied, but can generally include:

  • Expanding the scope of current business through digital services, such as a toy company that crowdsources designs online.
  • Evolving with changes in customer behavior due to new technologies. For instance, when customers see a product in store, they may do an online search order to check reviews and end up purchasing it at a lower price somewhere else. Some businesses have countered this by creating an app that allows customers to scan the product and read the reviews, ensuring that they stay within the business’s platform instead of purchasing elsewhere.
  • Rebuilding services to be digital-first, such as banks that create mobile apps for cashing checks, paying bills, applying for loans or other services.

Where to Start

A common misconception is that digital transformation begins and ends with technology. Companies shouldn’t define digital transformation as simply an increased investment in IT. Customer experience must drive the digital strategy behind transformation if companies are to see significant gains from customer insight and engagement.

To stay competitive in digital business, enterprises should look at where they are now and determine what core elements of digital transformation they need to focus on. Your enterprise may only be able to begin with one of the three pillars mentioned above; what’s important is that you start somewhere.

Though no one has a comprehensive roadmap for digital transformation, the following best practices have emerged over the past five years:

  • Vision + Investment – How far your business can go depends on the reach of your vision and the level of investment you commit to.
  • Digital Strategy – Have a strategy that accounts for the full scope of your vision, rather than the implementation of individual technologies.
  • Leadership – Because digital transformation requires in-depth organizational change and coordination, it is more effective when led from the top layer of the business.
  • Uniting Business and IT – Breaking down the barriers between Business and IT goes hand in hand with operational change. As digital business increases software needs, it will be important for Business and IT to merge their work so there are no conflicts in adapting technology.
  • Third-Party Solutions – Look for partners who have specific strengths in your areas of weakness. Structure relationships as partnerships, with an expectation of knowledge sharing and frequent communication. This mitigates the risk of creating siloed information across multiple vendors and becoming dependent on a vendor’s availability or timeline.

The post What is Digital Transformation? appeared first on #1 Technology & Innovation Company In The Region.

]]>
https://inifyetechnologies.com/what-is-digital-transformation/feed/ 0
Marketing Automation Tools to Enhance Small Business https://inifyetechnologies.com/marketing-automation-tools-to-enhance-small-business/ https://inifyetechnologies.com/marketing-automation-tools-to-enhance-small-business/#respond Wed, 13 May 2020 22:17:50 +0000 https://inifyetechnologies.com/?p=1583 Marketing automation refers to a number of technologies used for running marketing campaigns across multiple channels. By opting to use them, small businesses can interact with customers through automated messages via email, websites, social media, instant messaging apps, and other forms of online communication.

To automate a marketing-related task, you have to define a set of actions that your automation software will perform once certain conditions are met. You can create these instructions from scratch, or you can modify existing templates.

The post Marketing Automation Tools to Enhance Small Business appeared first on #1 Technology & Innovation Company In The Region.

]]>
In today’s competitive global economy, digital promotion is a major contributing factor to a company’s growth and success. However, some small businesses are having a tough time adapting to the situation. Not only does digital marketing involve a host of repetitive, labor-intensive activities such as email communication, but it also compels you to get creative with your messaging if you want to stand a chance at cultivating a loyal customer base.

Enter marketing automation. Software-based marketing automation can improve process efficiency, increase revenue, and keep marketing costs down. Marketing and sales employees love automation because it reduces the need for repetitive manual labor, giving them more time to flex their creative muscles. According to researchers at MarketsAndMarkets, the marketing automation industry is expected to grow at a rate of about 8.55%, reaching $6.4 million in worth by 2024. Another study conducted by EmailMonday shows that an average of 51% of companies is already using marketing automation in some capacity. This shows that rather than being a simple tech trend, automation represents a fairly accurate picture of what the future of marketing will look like.

marketing automation for small business

The basics of marketing automation

Marketing automation refers to a number of technologies used for running marketing campaigns across multiple channels. By opting to use them, small businesses can interact with customers through automated messages via email, websites, social media, instant messaging apps, and other forms of online communication.

To automate a marketing-related task, you have to define a set of actions that your automation software will perform once certain conditions are met. You can create these instructions from scratch, or you can modify existing templates.

The main goal of marketing automation is to help your small business grow and succeed. And the results have been promising so far.

According to a study by eMarketer, companies using automation for tasks such as running email marketing campaigns have seen their conversion rate jump to almost 50%. Nuclear Research also found that companies that leverage automation observed a 6.9% increase in marketing staff productivity, and a 4% sales staff productivity respectively.Want to Find the Optimal Way to Automate Your Marketing Efforts?

Marketing automation benefits

marketing automation benefits for small business
  • Discover quality leads.

Thanks to its ability to monitor how users behave while interacting with your business online, marketing automation software plays a major role in helping your marketing department understand what the customers are interested in, and where they are in the conversion funnel. Follow-up interactions can then be customized around these insights.

  • Personalize customer journeys.

Marketing automation software will make it easier to align your content strategy with the needs of your customers. Instead of trying to figure out what your customers want manually, you can rely on data-driven algorithms to do all the hard work.

  • Make decisions based on data.

By providing a unified platform for data storage, management, and analytics and closed-loop reporting, marketing automation tools offer a complete solution for campaign management and audience analysis. This enables small businesses to make more rational, fact-based marketing decisions.

  • Keep marketing and sales in alignment.

Efficient collaboration between sales and marketing teams is essential for building a sustainable conversion pipeline. Marketing automation will help you work towards this goal by ensuring both teams have access to the same kind of data.

  • Obtain more detailed customer profiles.

The more you know about your existing, as well as potential customers, the better position you will be to sell to them. And since generating detailed user profiles is mandatory for running marketing automation, you will obtain more detailed customer profiles at no extra cost once you start using an automation tool.

Perks of integrating marketing automation and CRM

If you wish to achieve even better marketing results, you can integrate marketing automation with CRM. There are already CRM tools on the market that offer automation functionality from the get-go, and there are others that have to be paired up with specialized automation tools. Either way, the gains of combining the two can be substantial.

Marketing automation software will generate a high volume of data in the course of its operation, so you will gather a hefty amount of customer info on the side at no extra cost. This data is primarily used to score and segment leads. The best of these leads can then be transferred to your CRM platform so that your sales reps can focus on converting leads with the highest potential.

CRM and marketing automation also enable you to create more intimate relationships between leads and salespeople. When a sales rep has access to detailed behavior profiles for every lead in your database, they can tailor their approach to suit each lead.

Another area where you stand to benefit from integrating marketing automation with CRM is content creation. The data you gather via marketing automation tools will enable you to craft targeted content for each stage of the conversion process.

Finally, by combining CRM and marketing automation, you will have an easier time identifying marketing campaigns that work from those that don’t, allowing you to create better ones in the future.

A selection of noteworthy marketing automation tools

In practical terms, marketing automation boils down to using a variety of software tools. Marketing automation tools are usually specialized for one particular type of automation (i.e., email automation), but exceptions do exist.

I’ll cover the marketing automation tools by dividing them into two main categories. First, let’s talk about CRMs with marketing automation functionality, and then we’re going to covert more specialized marketing automation software.

CRMs with marketing automation functionality

1. Salesforce Marketing Cloud

This is a cloud-based marketing automation platform with the most powerful automation tools on the market, provided you have the skills to use it.

Salesforce Marketing Cloud offers numerous features that can help businesses streamline their sales and marketing workflows. It is connecting sales, commerce, and customer communities. With intuitive AI and drag-and-drop features, you can easily respond to customer intent and create personalized content for your emails and social media platforms. That makes this platform perfect for B2C and B2B businesses. However, many users are overwhelmed with the numerous features and find them complex. After all, this is the latest technology.

As for the pricing, the Basic plan starts with $400 org/month for B2C companies and $1,250/month for up to 10,000 contracts for B2B companies.

2. Dynamics 365 Marketing

Dynamics 365 is a CRM platform that offers a number of useful marketing automation features. It is aimed at small businesses looking to raise demand for their products and services, enchant customers with user-friendly experiences, and give their overall promotional efforts a major boost.

With the Dynamics 365 Marketing app, you can create and nurture leads, align sales and marketing, make informed decisions and personalize and extend your app’s capabilities.

In case you’re interested in purchasing a license, you’ll need to pay from $750 if you already have the Customer Engagement Plan, or from $1,500 if it’s your first Dynamics 365 app.

3. HubSpot

If you’re not comfortable with using multiple tools for marketing automation, Hubspot has got you covered. Their feature-rich, all-in-one marketing automation platform is ideally suited for small businesses.

Use it to automate essential marketing tasks such as running email marketing campaigns, designing landing pages, creating and running A/B tests, creating lead acquisition pipelines, publishing blog posts, and more. One of the most attractive features of this tool is the dynamic campaign builder. Use its convenient drag-and-drop interface to create automated marketing campaigns from scratch in no time.

The price for HubSpot Marketing Automation depends on which plan with varying features and add-ons you choose. You can opt for Free, Starter ($50/month), Professional ($400-$800/month), and Enterprise ($1,200-$3,200/month).

4. Really Simple Systems CRM

If you’re looking for a simpler CRM solution with built-in automation features, Really Simple Systems CRM has everything a small business needs to be effective at digital marketing.

In addition to standard CRM features such as tools for customer management, campaign monitoring, and customer service, Really Simple Systems CRM also comes with a slew of automation features. You can automate things like form-based lead capture, email marketing, contact sync, and more.

What makes Really Simple Systems CRM stand out is its price. The basic subscription is completely free, and even the most expensive package will only set you back €41 per user/month.

Specialized marketing automation tools

1. Marketo

This marketing automation platform helps organizations automate tasks and workflows and measure marketing engagement.

From nurturing qualified leads to discovering cross-selling and up-selling opportunities and executing personalized marketing campaigns across multiple digital channels, the job of every digital marketer gets much easier with Marketo.

Among the features that Marketo offers are bi-directional CRM synchronization, web activity tracking, lead management, email marketing automation, social media marketing automation, CRM data-based personalization, mobile marketing, and search engine optimization.

If you’re wondering about how much all of this costs, the first thing you should know is that the amount depends on the number of contacts. For up to 10,000 contacts, you’ll have to pay $895/month.

2. GetResponse

What makes GetResponse a highly suitable marketing automation platform for small businesses is the fact that it provides onboarding, quick setup and advice, post-purchase support and loyalty programs, all included in the cost. The tool itself has everything you need to create and run automatic marketing campaigns, including a simple drag-and-drop workflow editor, ecommerce support, data management, and analytics.

GetResponse’s pricing starts at $15/month for up to 1,000 subscribers (Email Plan). If this doesn’t satisfy your needs, you can always opt for a plan for 2,500 subscribers ($25 per month), or 10,000 ($65 per month).

Drop your thoughts in the comments

The post Marketing Automation Tools to Enhance Small Business appeared first on #1 Technology & Innovation Company In The Region.

]]>
https://inifyetechnologies.com/marketing-automation-tools-to-enhance-small-business/feed/ 0
When you combine AI and IoT, you get AIoT: A Guide for AIoT https://inifyetechnologies.com/when-you-combine-ai-and-iot-you-get-aiot-a-guide-for-aiot/ https://inifyetechnologies.com/when-you-combine-ai-and-iot-you-get-aiot-a-guide-for-aiot/#comments Sun, 02 Feb 2020 21:15:47 +0000 http://inifyetechnologies.com/?p=1158 AIoT technology has so many benefits and applications and no consequences. The businesses can use it to record and analyze important information to make efficient plans. The AIoT systems don’t need any human involvement to record and analyze the data of an enterprise. Other new technologies can also make use of it to make the product smart so that it can work on its own.

The post When you combine AI and IoT, you get AIoT: A Guide for AIoT appeared first on #1 Technology & Innovation Company In The Region.

]]>
The Internet of Things has been a technology that has changed a lot of things in the world.

Everything, when connected to the Internet, became so useful. Internet of Things (IoT) is nothing but a technology to connect any kind of device to the Internet. For example, A smartphone is such a useful device but what makes it so useful? Internet connection. Most of the applications that people use worldwide require an Internet connection to run, if we think of the time when there were just normal cellular phones, things were pretty tough, now people can read books, watch a movie, do a video call, search for anything they like, buy their favorite stuff online and so many other things. IoT has changed the technical world in a very positive manner.

An IoT app development company have to make new changes every few months to be able to provide the users with the latest and best in class applications that might increase the usability of their devices. IoT is not just about smartphones, it is also about the microwaves, self-driving cars, fitness devices, etc.

Now, what is AI? AI is just as popular as the IoT and has been there for quite a while now, AI is a branch of Computer Science that deals with the development of machines that are capable of performing some tasks that are coded into it by the developers, the tasks are of a kind that will require human intelligence and that is why it has to be coded in the machine before so it can understand how it has to do something when it is asked or told to do it.

How AI is changing our lifestyle?

AI technology has changed the way machines were made, the machines have become very smart and are now getting even smarter as they developers have made them smart enough to learn on their own by observing the real world, all this has been possible because of the AI technology. An AI development company makes so many types of applications that help people nowadays so much, there are voice assistants that can hear what people say and respond to them, some of the devices like speaker AI assistants can even do the shopping for their users. The world is changing but the technology is changing even faster.

Most of the developments in the world have come because of the development in the technology sector, especially in computer science, the emergence of smartphone technology, the new type of applications, the new devices, all of them are helping into the overall development of the area they are in.

Combining AI with IoT

Now when AI and IoT both are useful, what if they can be combined, what if there was something like AIoT? Well, there is indeed something called AIoT, that is, a technology that combines Artificial Intelligence (AI) and the Internet of Things (IoT). AIoT is Artificial Intelligence of Things, this technology helps people to achieve more efficient IoT operations, good human-device interaction, and to enhance the management and analytics of data. If the developers implement it properly, AI analytics can change the IoT data into very useful information so that better decisions can be made. Artificial Intelligence Solutions, when combined with the Internet of Things Solutions, can make the devices a very powerful tool.

There is so much scope for the Mobile Application Development companies if they use AIoT, the combination can do wonders in the market if used properly. AIoT is mutually helpful for both AI and IoT technologies, AI can add value to IoT technology through its machine learning capabilities and on the other hand AI can be benefitted by IoT through its power of connectivity, signaling, and exchange of data. There is a large amount of human-oriented and machine-generated unstructured data because the IoT network is spread around major industries. For this, AIoT can provide a solution, a solution or support for data analytics, it can help create value out of this data generated through the IoT industries.

With the help of the IoT technology, AI can be infused into the infrastructure components like programs, chipsets, and edge computing, all of it is interconnected with the IoT networks.

The concept of AIoT is very new in the market but the technology is very promising and can change it for the best. A Hybrid App Development Company can make use of this technology very efficiently. There are many verticals which will get affected by this technology, and affected in a positive way, verticals like enterprise, industrial, and consumer product and the service sector, these verticals will grow with the help of this technology. There are many operational problems that can be solved through AIoT, for example, the problems like solving the expense associated with effective human capital management (HCM) or even the complexity of supply chain and delivery models.

Scope of AIoT:

Most of the AIoT applications are as of now in retail product-oriented and most of the time it is focused on the implementation of cognitive computing in the field of consumer appliances. The smart home technology that has been launched in the market a while ago is also considered a part of AIoT as the smart appliances learn through human interaction with the help of AI and then they can respond.

If it is looked at from the data analytics point of view, AIoT technology can easily combine machine learning with IoT and the system in order to create data “learning machines”. This thing can be then applied to enterprise and industrial data use cases to capture IoT data. It can capture the data like the edge of networks, to automate tasks in a workplace that is connected. The key value of all the use cases and solutions of all AIoT is the real-time data.

One more important application of AIoT is that it can also be used with the social media and human-resource-related platforms to create an AI decision as a service function for the Human resource professionals.

Practical Examples of AIoT:

  • Smart Retail:

In the smart retail environment, a camera installed in the store can recognize the face of the customer who walks into the store by using the face recognition technology that is based on AI. The system can acquire much important information about the customers through this like the gender, preference of products while shopping, the flow of traffic, and many more. The system can then efficiently analyze the data that is collected to predict the behavior of the customers accurately.

The information after proper analysis can be used for the growth of the retail business, new strategies can be formulated, existing plans and strategies could be dropped or manipulated in order to gain maximum profit. It can also help the owners figure out a way to run the store smoothly by knowing all the problems that the customers face while they search for some products.

The system can analyze that most of the customers that walk into a specific retail store belong to the upper class, or the customers buy the specific types of products more than others and with that information, the retail store owner can formulate a plan to keep more products that the class of customers or group of customers wish to buy. They can advertise efficiently if they get to know which things are more popular in their store and which things they can offer to their target audience. This technology can also identify users who can steal things from the store so that the retail stores can take action and block them from entering the store in the future.

  • Drone and CCTV Traffic Monitoring:

Traffic monitoring has changed in the past few years, there are cameras installed on the traffic lights that can record various information about the vehicles like the speed at which it travels and the number of the vehicle, the model, and type. The technology has advanced to a level where if someone breaks a traffic law the notice is directly sent to their house with the receipt.

This happens in the following way, the camera records the information which is sent to the system for further analysis. In this way, the camera uses the IoT technology to connect the camera to a system to share the recorded data, then the recorded data with the help of AI algorithms analyses it and then it can find out things like the owner of the vehicle, the address of the person who owns the vehicle, the history of the person, and the amount that has to be entered on the receipt as per the law that has been broken by the individual. The AI development company has made it very easy to make the traffic system stronger than ever.

Now in some smart cities, the traffic monitoring has gone even a level higher, it is done through the drones. The traffic is monitored in real-time just the way the CCTV cameras do it, through it the system can make adjustments to the real-time traffic by adjusting the traffic signals, this way the congestion can be reduced and a smooth flow of traffic can be maintained. Drones can be used to monitor a large area with respect to the CCTV, they are not fixed and can move from one location to another capturing more details and more data.

This helps in calculating the speed limit of the vehicles when they are on the running road. It can maintain traffic by ensuring strict speed-related laws. The drones can monitor if the timings of the signals need to be changed without the involvement of a human, and make the traffic flow better. The drones can also detect the accidents happening in an area and with all the data recorded by them the systems can later figure out what are the main reasons of accidents in a particular area and with the help of that the traffic department can formulate policies to reduce the accidents by taking necessary measures.

The drone system can also detect illegal parking, there are people who illegally park their vehicles in the no parking areas that create congestion. With the help of the drone system, the traffic department can reduce such incidents.

  • Office Buildings:

This is one more area where the two technologies IoT and AI meet and help mankind. There are some enterprises that wish to install a network of smart environmental sensors in the buildings of their offices. The sensors can detect the people who are present in the building in the Real-Time. It can also record and adjust the temperature and lighting accordingly. This can save a lot of energy for the enterprises cutting down their cost to a great extent. One more important application of these sensors is to provide access to important and sensitive areas and information to only authorized people by authenticating them through either fingerprint identification or face recognition.

The combination of a camera and the AI system can help a lot here too. The videos and images taken in real-time can be used by the system to find out useful information after proper analysis. It can help the systems determine which people should be given access and which people should be restricted from some specific areas and records. AIoT works together to keep the operations of the company go on without any interruptions and also it keeps the records and the place safe from unwanted visitors and attacks.

The system will eliminate the need for a separate attendance system for the employees as the AIoT system will take care of it. The AIoT technology can give the enterprises freedom from handling many parts of the operations that will otherwise need a separate department or a separate system. It saves time and a lot of cost to the businesses.

  • Management of fleet and Autonomous Vehicles:

AIoT has is a savior, the technology helps in maintaining so many things for people. It can also be used for the management of a fleet, it can monitor the vehicles of a fleet. It can reduce the cost of the fuel for them by recording analyzing important data, it can track the vehicle’s maintenance.

It can also help in detecting unsafe driving behavior. There is the Internet of Things solutions in the form of devices like the GPS installed in vehicles and through them, the companies are able to manage their fleet and this is done when we combine this technology with the AI. So, IoT is a technology that has to be thanked for it.

One more place where AIoT has used in the autonomous vehicles like the Tesla’s autopilot systems, they use the radar technology, sonars, GPS, and some cameras to gather the data about the conditions of driving. After the data is collected by these IoT devices then AI technology is used to make the important decisions to help the autopilot system.

  • Autonomous Robots used for Delivery:

This area uses AIoT technology just how autonomous vehicles use it. The robots have sensors installed in them that help them to gather information important for their functioning. After the data is gathered the AI helps the robots to make decisions that help them in their work. Artificial Intelligence solutions have helped in developing this kind of technology.

An IoT app development company when collaborates with an Artificial intelligence company, makes a system that can help enterprises, institutions, the govt. Organizations in many ways. The trends are changing, be it the applications market or the security services market, or any other sector and that is why enterprises need to know about all the latest technologies that can help them in their growth. The Mobile Application Development companies have to try to break the stereotype of the development market and need to focus on new technology-based applications like AIoT applications. The best utilization of this technology can be done by a Hybrid App Development Company. They can integrate both the technologies with hybrid applications that can run on any device and help the target users in the best way possible.

Conclusion

AIoT technology has so many benefits and applications and no consequences. The businesses can use it to record and analyze important information to make efficient plans. The AIoT systems don’t need any human involvement to record and analyze the data of an enterprise. Other new technologies can also make use of it to make the product smart so that it can work on its own.

This is a time of smart machines and IoT is the best way to make the machines smart. Alone AI and IoT are limited but when they come together, the technology can do wonders. enterprises around the world need to know about this technology. They should implement it so they can ensure fast and proper growth. This new technology is going to the big thing in the market very soon. Although it is not so popular as of now, it is still one of the best and most important technologies that have been developed in recent times.

Share this post with your friends!

The post When you combine AI and IoT, you get AIoT: A Guide for AIoT appeared first on #1 Technology & Innovation Company In The Region.

]]>
https://inifyetechnologies.com/when-you-combine-ai-and-iot-you-get-aiot-a-guide-for-aiot/feed/ 2
The Ultimate Guide To Cryptocurrency https://inifyetechnologies.com/the-ultimate-guide-to-cryptocurrency/ https://inifyetechnologies.com/the-ultimate-guide-to-cryptocurrency/#comments Thu, 28 Nov 2019 21:58:56 +0000 http://inifyetechnologies.com/?p=1138 There's not any straightforward answer to whether banks need to be more embracive towards cryptocurrencies. There are potential dangers just because there are potential advantages, and the fact is they just haven't been around long enough for people to understand them fully. As a sector dominated by old and conventional associations, the finance sector would be erroneous to stifle invention by rejecting cryptocurrencies, but it will need safeguards in place. The potential of the fund should certainly involve cryptocurrencies, but for them to be really valuable they need to be controlled like any other kind of asset.

The post The Ultimate Guide To Cryptocurrency appeared first on #1 Technology & Innovation Company In The Region.

]]>
Despite of the fact that cryptocurrency is the money of the future, it’s surprising how much people don’t know about it yet. If you are new to this concept, here’s a guide for you to understand what cryptocurrency is, what are the benefits of using it over traditional money and what is cryptocurrency mining. We also talk about the most popular cryptocurrency, bitcoin. So stick around to learn in-depth about cryptocurrency!  

What is Cryptocurrency?

Starting with the basics, let’s define cryptocurrency first. In simple words, a cryptocurrency is a form of virtual or digital currency that is secured by the technology of cryptography. Cryptography is a security technique that involves coding and decoding of transmitted and stored data so that only sending and receiving parties are able to intercept it. So you can perceive cryptocurrency as an online currency exchange and storage system that’s secure and anonymous. Bitcoin, Ripple, Litecoin, Dogecoin and Coinye are some examples of cryptocurrencies. 

What is Cryptocurrency Mining?

Cryptocurrency works on blockchain technology. A blockchain is like the master ledger or record keeper that keeps track of every transacted and owned unit of the cryptocurrency. The identical copies of the blockchain document is available across all the nodes of the software network, made up of decentralized server clusters, of the cryptocurrency. Each of these nodes is run by an individual or a group of people who are known as miners. These miners have powerful software and hardware capabilities at their disposal. The job of the miners is to tally the cryptocurrency transactions, update the blockchain document with the new transactions taking place and ensure the authenticity and security of the transactions.

How does this happen? All the cryptocurrency transactions that are taking place within a set period of time are added into a list called a block. The job of the miners would be to confirm this block of transactions and add it to the master shared ledger document Blockchain. When a particular block of transactions is complete, the block is processed by the miners. Using information from the block, a complex mathematical equation is solved to generate a code of numbers and letters, called hash. The block and the newly produced hash are stored at the end of the Blockchain document for that given point of time. Also, with each block, new units of the cryptocurrency are created or issued.

Cryptocurrency mining is a carefully controlled process that ensures that the value of the existing cryptocurrency units does not depreciate because of variations in demand and supply.

Top 5 Benefits of Using Cryptocurrencies

  • Decentralized​

Cryptocurrency is not controlled by any one centralized authority, as is the case with all physical currencies. It is a peer-to-peer cash system that is completely decentralized. It is free from the control of laws and regulations of any jurisdiction. This puts much of the power of using cryptocurrency in the hands of currency holders. 

  • Anonymous​ 

Tired of giving out your personal information everywhere, like during credit card payments? In cryptocurrency transactions, you don’t have to worry about divulging your personal details at any point of the transaction. You can keep your identity completely anonymous throughout the transaction. 

  • High Security 

Cryptocurrencies and their transactions are encrypted, which greatly reduces your vulnerability to security threats like fraud and currency theft. Everything takes place digitally under the security of cryptography. Chances of counterfeit are nearly negligible when it comes to cryptocurrencies, which is what makes them a great option for doing payments and other financial transactions. 

  • Universal Nature 

Exchanging physical currencies across countries can be a costly affair because of charges like exchange rates involved. On the other hand, with cryptocurrencies, there are no costs involved like exchange rates, interest rates or any other specific charges of a given location. Cryptocurrencies can freely move around the globe with no barriers. 

  • Low Costs 

Usually, you don’t have to pay any fees for cryptocurrency transactions and exchanges. However, it’s worthwhile to note that you’re likely to pay fees for engaging a third-party service for storing and maintaining the digital wallet for your cryptocurrency. 

What’s the Buzz About Bitcoin?

Bitcoin is the first and to date most popular cryptocurrency, that was introduced in 2009 by the mysterious person or group of persons under the identity Satoshi Nakamoto. This digital asset is open-source software, it’s not owned by any individual, corporate organization or government. Bitcoin miners are the ones who are responsible for enforcing the reliability of the whole bitcoin network. For their services rendered, bitcoin miners are given rewards in the form of newly issued bitcoins and transaction fees which is also paid in bitcoins.

Apart from mining, there are other ways too to acquire bitcoins. There are marketplaces known as bitcoin exchanges where you may sell or buy bitcoins using various currencies. People can transfer bitcoins to each other, just like how they would transfer digital cash. Bitcoins can be easily stored in digital wallet, a type of digital bank account that can be used by the user to send bitcoins, receive bitcoins, save bitcoins, make payments for goods or services using bitcoins, etc. This wallet can be either on the user’s computer or in the cloud.

The post The Ultimate Guide To Cryptocurrency appeared first on #1 Technology & Innovation Company In The Region.

]]>
https://inifyetechnologies.com/the-ultimate-guide-to-cryptocurrency/feed/ 2
Big Data: Explained https://inifyetechnologies.com/big-data-explained/ https://inifyetechnologies.com/big-data-explained/#respond Thu, 24 Oct 2019 10:53:55 +0000 http://inifyetechnologies.com/?p=1121 Our big data experts make data science serve the enterprises striving to harness complex data processing operations. With our multi-year software development expertise and top talent on board, we know how to deliver what your big data project needs.

Ultra-reliable performance
Cost-effective upscaling
Hassle-free integrations
Superior data quality
Top-grade data security
Powerful analytics

The post Big Data: Explained appeared first on #1 Technology & Innovation Company In The Region.

]]>
For years, people have asked all-knowing Google how big data can help businesses to succeed, what big data technologies are the best, and other important questions. A lot has been written and said about big data already, but the term itself remains unexplained. To be fair, we do not count a widespread definition “big data is big.” This concept raises another question: what are the measures for “big” – 1 terabyte, 1 petabyte, 1 exabyte or more?

Here, our big data consulting team defines the concept of big data through describing its key features. To give a complete picture, we also share an overview of big data examples from different industries, enumerate different sources of big data and fundamental technologies.

Short summary:

What is big data

Big data defined

Here’s our definition:

Big data is the data that is characterized by such informational features as the log-of-events nature and statistical correctness, and that imposes such technical requirements as distributed storage, parallel data processing and easy scalability of the solution.

Below, you can read about these features and requirements in more detail.

Informational features: In contrast to traditional data that may change at any moment (e.g., bank accounts, quantity of goods in a warehouse), big data represents a log of records where each describes some event (e.g., a purchase in a store, a web page view, a sensor value at a given moment, a comment on a social network). Due to its very nature, event data does not change.

Besides, big data may contain omissions and errors, which makes it a bad choice for the tasks where absolute accuracy is crucial. So, it doesn’t make much sense to use big data for bookkeeping. However, big data is correct statistically and can give a clear understanding of the overall picture, trends and dependencies. Another example from Finance: big data can help identify and measure market risks based on the analysis of customer behavior, industry benchmarks, product portfolio performance, interest rates history, commodity price changes, etc.

Technical requirements: Big data has a volume that requires parallel processing and a special approach to storage: one computer (or one node as IT gurus call it) is not sufficient to perform these tasks – we need many, typically from 10 to 100.

Besides, big data solution needs scalability. To cope with ever-growing data volume, we don’t need to introduce any changes to the software each time the amount of data increases. If this happens, we just involve more nodes, and the data will be redistributed among them automatically.

Big data examples

To better understand what big data is, let’s go beyond the definition and look at some examples of practical application from different industries.

1. Customer analytics

To create a 360-degree customer view, companies need to collect, store and analyze a plethora of data. The more data sources they use, the more complete picture they will get. Say, for each of their 10+ million customers they can analyze 5 types of customer big data:

  • Demographic data (this customer is a woman, 35 years old, has two children, etc.).
  • Transactional data (the products she buys each time, the time of purchases, etc.)
  • Web behavior data (the products she puts into her basket when she shops online).
  • Data from customer-created texts (comments about the company that this woman leaves on the internet).
  • Data about product/service use (feedback on the quality of the goods ordered, the speed of delivery, etc.).

Customer analytics is equally beneficial for companies and customers. The former can adjust their product portfolio to better satisfy customer needs and organize efficient marketing activities. The latter can enjoy favorite products, relevant promotions and personalized communication.

2. Industrial analytics

To avoid expensive downtimes that affect all the related processes, manufacturers can use sensor data to foster proactive maintenance. Imagine that the analytical system has been collecting and analyzing sensor data for several months to form a history of observations. Based on this historical data, the system has identified a set of patterns that are likely to end up with a machine breakdown. For instance, the system recognizes that picture formed by temperature and load sensors is similar to pre-failure situation #3 and alerts the maintenance team to check the machinery.

It’s important to mention that preventive maintenance is not the only example of how manufacturers can use big data. In this article, you’ll find a detailed description of other real-life big data use cases.  

3. Business process analytics

Companies also use big data analytics to monitor the performance of their remote employees and improve the efficiency of the processes. Let’s take transportation as an example. Companies can collect and store the telemetry data that comes from each truck in real time to identify a typical behavior of each driver. Once the pattern is defined, the system analyzes real-time data, compares it with the pattern and signals if there is a mismatch. Thus, the company can ensure safe working conditions (as drivers should change to have a rest, but they sometimes neglect the rule).

4. Analytics for fraud detection

Banks can detect an unusual card behavior in real time (if somebody else, not the owner, is using it) and block suspicious activities or at least postpone them to notify the owner. For example, if the user is trying to withdraw money in Spain, while they reside in Texas, before declining the transaction, the bank can check the user’s info on the social network – maybe they are simply on vacations. Besides, the bank can verify if this user has any linkage with fraud-related accounts or activities across all other channels.

Big data sources: internal and external

There are two types of big data sources: internal and external ones. Data is internal if a company generates, owns and controls it. External data is public data or the data generated outside the company; correspondingly, the company neither owns nor controls it.

Let’s look at some self-explanatory examples of data sources.

Internal and external big data sources

Autonomous system or a part of traditional BI?

Big data can be used both as a part of traditional BI and in an independent system. Let’s turn to examples again. A company analyses big data to identify behavior patterns of every customer. Based on these insights, it allocates the customers with similar behavior patterns to a particular segment. Finally, a traditional BI system uses customer segments as another attribute for reporting. For instance, users can create reports that show the sales per customer segment or their response to a recent promotion.

Another example: Imagine an ecommerce website supported by the analytical system that identifies the preferences of each user by monitoring the products they buy or are interested in (according to the time spent on a product page). Based on this information, the system recommends “you-may-also-like” products. This is an independent system.

Big data technologies: overview of good-to-know names and terms

Big data good-to-know terms

The world of big data speaks its own language. Let’s look at some good-to-know terms and most popular technologies:

  • Сloudis the delivery of on-demand computing resources on a pay-for-use basis. This approach is widely used in big data, as the latter requires fast scalability. E.g., an administrator can add 20 computers in a few clicks.
  • Hadoopis a framework used for distributed storage of huge amounts of data (its HDFS component) and parallel data processing (Hadoop MapReduce). It breaks a large chunk into smaller ones to be processed separately on different data nodes (computers) and automatically gathers the results across the multiple nodes to return a single result. Quite often Hadoop means the ecosystem that covers multiple big data technologies, such as Apache HiveApache HBaseApache Zookeeper and Apache Oozie.
  • Apache Spark is a framework used for in-memory parallel data processing, which makes real-time big data analytics possible. E.g., an analytical system may identify that a visitor has been spending quite a long time on particular product pages, but has not added them to the cart yet. To motivate a purchase, the system can offer a discount coupon for the product of interest.

Now you know what big data is, don’t you?

Our big data consultants created a short quiz. There are five questions for you to check how much you’ve learned about big data:

  1. What kind of data processing does big data require?
  2. Is big data 100% reliable and accurate?
  3. If your goal is to create a unique customer experience, what kind of big data analytics do you need?
  4. Name at least three external sources of big data.
  5. Is there any similarity between Hadoop and Apache Spark?

Well done! We hope that the article was helpful to you and that after reading it you’ve found the quiz easy.

The post Big Data: Explained appeared first on #1 Technology & Innovation Company In The Region.

]]>
https://inifyetechnologies.com/big-data-explained/feed/ 0
Hello world! https://inifyetechnologies.com/hello-world/ https://inifyetechnologies.com/hello-world/#respond Mon, 23 Sep 2019 11:04:40 +0000 http://inifyetechnologies.com/?p=1 Welcome to WordPress. This is your first post. Edit or delete it, then start writing!

The post Hello world! appeared first on #1 Technology & Innovation Company In The Region.

]]>
Welcome to WordPress. This is your first post. Edit or delete it, then start writing!

The post Hello world! appeared first on #1 Technology & Innovation Company In The Region.

]]>
https://inifyetechnologies.com/hello-world/feed/ 0