Just a quick fix isn’t enough anymore, you need your marketing strategy to be effective and more importantly, should bring you more returns on your investment. Is there such a marketing strategy that could bring you the results you want? If you are looking for one such strategy, you should consider Email Marketing for your business. Not only is it effective but also offers you more benefits than any other marketing strategy. Let’s stick until the end of the article and find out more about email marketing and the benefits it could bring to your business.

Low Cost

First and foremost, the money. Yes!! You could save yourself a lot of your marketing funds when you choose to go with email marketing. It costs you a lot less than other forms of marketing. You could save all the money you spend on printing and advertising. You don’t pay for the postage here nor on the magazines or billboards. You could make your way directly into your customer’s inboxes without paying much. You might have to spend some dollars or pounds on the software and automation, but it is far less than what you would spend on other marketing channels.

High ROI

Most business owners would go to any lengths to see to it that they are investing their money in the right place. When it comes to marketing, every penny you spend is important as you are spending it to bring more exposure to your brand and also to attract customers towards your products. You would know that you are investing in the right place only when it brings you returns on your investment. Lucky for you, email marketing brings the highest returns on investment among all the other marketing strategies.  If you are looking for an exact number (you would be you did), email marketing could bring you about 122% returns on investment. Yes! You read it right and it definitely is not a typo. You are looking at the real numbers now. And that alone should be enough for you to choose email marketing over others.

Mail Merge

Not only does the email marketing brings you high Returns on Investment, but It also lets you address each of your customers personally. Nothing beats a letter addressed specifically to the person, it gives them a sense of personalisation that most marketing strategies lack. How many ever things other marketing strategies might do, but they don’t for sure address each of your prospects individually. Email marketing enables you to do so using mail merge. With mail merge, you can include the personal information in the newsletter to make it seem like it is addresses to them individually. With mail merge, you can create a batch of documents from the data source with placeholders that tell the software where exactly in the newsletter should the details be included. So when you send out a mass email using mail merge you can address each one of your subscribers individually with name and the information specific to the individual.

Targeted messages

Would you like to waste your money on the people that are not interested in your brand? No one would. Because that doesn’t bring any good to your business. With email marketing, you can do more than just deliver messages targeting the ones interested in your brand. You can segment your subscribers based on their interests, locality, shopping behaviour, activity and many more aspects and send them the content personalised for them. No one likes receiving unrelated content and the content that they are not interested in. You can make sure that your customers are receiving the content they signed up for with email marketing.

Drives Revenue

Email marketing is a great way of taking advantage of the impulse buying behaviour of your customers. With a tempting offer at your side, you can literally make a conversion within a couple of clicks. According to a report, it is found that email marketing messages are behind 66 per cent of consumers making a purchase. You can get up to $44 return on each dollar you spend on email marketing. To boost the sales and drive your revenue make sure you insert a call to action option and a link to check out in your email.

Instant Impact

Another benefit of email marketing that is not offered by other marketing strategies is that you can see the instant impact of the mail you send out. The email you send out to your subscribers will be delivered to them immediately and starts bringing in results instantly.  If you add a bit of urgency to the offers it would bring you more results in lesser time. For example, you could include live sales that end in hours and if they miss the sale in that hour, you can send out an email again giving them another chance to claim the offer, or you can introduce a limited time sale like the one that lasts for 24 hours or 2 days. This creates a sense of urgency in the customers and makes them act on it quickly.

Email automation

Email automation is another brilliant benefit of email marketing. With the emails automated now, you can reduce the number of hours your employees work on sending emails and utilise those employee hours on some other tasks. You can create relevant and personalised emails for your prospects and customers and schedule a time and other conditions when met send out the email automatically with pre-approved content. This could save you a lot of time and effort and bring you better results too.

Easily sharable

Not only does email marketing helps you draw the attention of your customers and prospects, but it also helps you reach their friends and family too. Wondering how? Unlike others, emails are delivered directly to their inboxes. That means you deliver the offers they might like to the fingertips of your prospects and customers. If they like the offer, they could easily share the offer with their friends and family with a click. You could also offer them referral bonuses to boost the process.

Analyse and Track Activity

When you use print marketing or the others you are mostly out of the loop. This means, from sending out the pamphlets and advertisements to the customer making a purchase, you are mostly clueless about what is happening out there. With email marketing software you can now track and analyse the reports of the whole process, you can track how many people opened the email how many people visited the website from the email, how many people made a purchase from it and many more things. Tracking and analysing these reports gives you a scope to improve your email designs and your approach to the ones that could bring you better results at the same time you can see how the current one is performing.

Better Communication

A strong relationship between the customer and the business is important for the growth of any business. A strong and healthy relationship can only be built through better communication. Regularly communicating with your customers and checking in with them with the latest and customised offers could build a great relationship between you and your customers. With email marketing, you can make sure that no customer is left out of the list and also deliver them the information they want to receive. You can set emails to wish each customer on their special days and bring them offers on the products they are interested in using web tracking.

In Conclusion

Email marketing is one of the best things made possible in the history of marketing. It delivers every benefit that marketers want from their strategies at a lower cost. You could reach your target audience, build a relationship with them, keep their loyalty, boost your sales and revenue, get high returns and many more from a single channel. This is a dream come true for business owners. This is a win-win for both the businesses and the consumers as it is preferred by both factions for the level of comfort and convenience it offers both of them.

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What Is SIP Trunking And How Does It Work?

SIP trunk is a sort of service that uses the SIP standard to connect a company’s current public switched telephone network (PSTN) to an IP-ready PBX over the internet.

Advantages Of SIP Trunking

SIP trunking has a number of distinct advantages, including:

• Installation and setup expenditures are reduced. Only a solid IP network path to the customer’s telephony system is required for SIP trunks. SIP trunks’ ease of use and flexibility allow carriers to dramatically reduce their setup costs and pass those savings on to their consumers.
• SIP trunks may be upgraded quickly and easily without the need for extra hardware. Customers can use numerous SIP trunks to serve different departments or services because many telecommunication systems offer multiple SIP trunks.
• Increase the overall value of your existing IP infrastructure or PBX system.
• SIP trunks allow you to save money on both short and long-distance calling.

Other Sip Benefits

In the Event of a Power Outage, Have a Back-Up

For business continuity, backup links can be used over any Internet connection. If the primary link to the SIP provider fails, the SIP trunk can be registered with the provider using nearly any stable Internet connection. This can assist limit a communications loss and provide an emergency telephonic service.

Faster Return On Investment

Many technological investments take years to pay off, and corporations aren’t likely to see a return on their investment for several years. SIP trunking is a more established form of technology that doesn’t come with many upfront fees, making it a hazardous selection owing to the uncertainty of ROI. You can experience appreciation sooner after the initial billing statement if you don’t make this capital commitment.

Mobility And Potential On The International Stage

If your company has to expand across multiple geographic areas throughout the world, you’ll be able to combine your remote workers and locations by consolidating data and voice into one network. As you add more sites or work with full-time remote staff, you’ll be able to scale more effectively with SIP.

Dependability Has Improved.

Traditional phone services are frequently disrupted by severe weather, as well as other causes that affect telephone systems, such as accidents. SIP trunking allows phones to be used even if the network is down by rerouting calls to other devices or offices.

Take Advantage Of SIP Trunking’s Benefits Right Now

If you want to reap the benefits of SIP trunking, you’ll notice the difference when you establish a full system for your company. You can get the most out of the latest technologies while bridging the gap between them and outdated infrastructures with managed SIP services.

The post Sip Trunking Is An Excellent Service When Done In The Right Way – Complete Guidelines appeared first on TechGenra.

IoT plays a prominent role in implementing and using the data in the right manner. With the IoT devices warehouse of today are more efficient and safer. IoT stands for Internet of things but the way it has helped businesses and organizations it can better be known as IoE that stands for internet of everything.

Mentioned below are the three ways that IoT will help make warehouses more efficient and safer.

IoT offers warehousing automation

One of the greatest benefits of IoT in warehouses is that it provides warehousing automation that will help to monitor your warehouse in real time round the clock. 

Apart from warehouse, monitoring IoT guided robotics will help warehouses to pick orders and assemble them. The automation devices have the ability to capture data and show them on real time to the head offices for the best results. 

Warehousing automation with the help of IoT opens up endless opportunities making your warehouse more efficient and safer than before. 

With the help of IoT devices businesses are able to get data on their inventory and keep an eye on what is happening in the warehouses round the clock. Automation in the warehouse will keep an eye on the maintenance and repair of the warehouse, which is very essential.

IoT helps to reduce the business expenses

Lately IoT has played a very significant role in developing businesses and organizations worldwide. One of the greatest advantages of IoT in warehouses is that it helps to reduce the expenses. The expenses or revenues that are saved can be sued for other developments in the organization for the best results.

One of the examples of reduction in expenses is the efficient inventory management system. With the help of this IoT businesses can easily keep a track on their inventory and avoid any errors. 

Generally, maintaining inventory the traditional way involves a lot of procedures and manual labor, which is unlikely in the IoT system. JDE managed services offers the best IoT managed warehouses providing all the data and safety required.

The incredible technology of the IoT devices ensures that your warehouse is monitored at all times to give you correct data. Another example of reducing expenses by using the IoT devices is by installing a thermostats in the warehouse building. 

This will help you to monitor usage and reduce energy usage to a huge margin. What is even more interesting is that using thermostats and saving energy helps to reduce the carbon footprint by a large margin.

There are techs that are able to predict the maintenance requirement for any machinery of tools utilized in your warehouse with the help of IoT. This will save you from any negative impact and help take decisions in the right time.

IoT improves the user experience and Warehouse Security

 With the help of IoT devices, it is now possible to more access into the data and analytics of the business that too in real time. With this data, businesses can improve the way they handle their warehouses. 

One of the greatest benefits of introducing IoT into the warehouses is to offer online data in real time regarding the warehouses without having to visits them. 

With the help of various techs deployed of internet of things it is easy to get your warehouse to be more secured than ever. IoTs enabled CCTV cameras will offer the real time data and manage it round the clock. 

All these feeds updated can be seen in the smartphone from anywhere giving your security a boost like never before. This way you can protect your warehouse from thieves and see your employees work status anytime you feel.

Conclusion

IoT plays a very significant role in making warehouses more efficient and safer. An efficient warehouse offers you an upper hand as warehouse are the main places of distribution. The inventory of any business is the main physical asset and it is essential to keep it secured. 

With the help of Internet of Things, you can now protect your warehouse from criminals and errors that take place during inventory management and many more. 

The post IoT Will Make Warehouses More Efficient & Safer In These 3 Key Ways appeared first on TechGenra.

According to Mobility, Performance and Engagement report, 42% of the employees have said that ability to access information quickly and easily has the greatest impact on how productive they are. 

Apart from email and instant messaging apps, companies use calendar apps to schedule meetings, cloud storage apps for document creation and sharing, screen sharing and video apps for conference calls etc.   

Managing dozens of tools and apps is time and cost consuming. Using different tools and apps may lead to missed project deadlines and deliveries.   

Need for a single platform  

The best way to deal with this problem would be to create a unified collaboration platform, where every member in the team has quick access to the information anywhere, anytime. Integrating all your apps into one platform can help you to streamline workflow and focus more on business development.  

  Let’s look at two such tools – Flock and Clariti. Before deciding on the pros and cons and making the comparison study, we installed and worked on both the tools for some time. Although they might look similar at first glance, this blog will help you to choose the right fit.  

 What does Flock do?  

Flock is one of the popular communications and collaboration apps for modern teams and businesses. Flock packs more features under chat and channels and it is relatively more affordable when compared with bigger counterparts like Slack. It supports some of the features like shared notes, reminders, to-dos, polls etc. You can also make audio and video calls and share your screen with your remote team. Flock is available in all formats like web, desktop and mobile. One of the most distinguishable features of Flock is it supports the app in 4 different languages.  

Flock’s drawback  

In Flock, most of the work can be done only with integrations, including emails. Though Mailcast (app for sending emails) comes pre-installed, it is still a separate application and you definitely need some help before you learn to send your first email. Integrations come with their own set of challenges. You may need an expert team to install and address post-integration issues. Apart from this, complex data mapping and limitations posed by APIs can cause further problems.   

For integrations to work you will have to subscribe to more applications and there are other costs like upgrading, customization, training etc. On the other hand, a single, integrated, all-in-one communication platform can slash your total cost of ownership by over 50%.  

What is Clariti?   

Clariti is a productivity tool that effortlessly connects related interactions from different digital work channels such as email, chat, cloud storage, social feeds and To-Do’s into one context-based Thread.   

Clariti allows you to create a Thread using any item such as email, conference chat, social feeds and  ToDo. All the related conversations subsequently are then stored in that Thread. So, when you want to go back and refer to a prior conversation or file, all you have to do is remember the context and look inside the relevant Thread.     

So how does a Thread work in Clariti?   

When you receive an email, you can immediately start chatting from the email and the recipient can understand the context that you are talking about – without you having to forward the email! Later, both the email and chat transcripts get neatly arranged inside the Thread. In Clariti, all the “connected” communication history is displayed in an easy-to-navigate “overlay” view, which acts as a table of content for easy navigation.   

Other features of Clariti   

• Besides Threads, Clariti supports features like “Instant Share” where you can instantly share any item (Email, chat, social feeds etc) including the attachments with multiple participants at a time.  
   
• In Clariti, you can add or remove participants from conference chat. As a participant in the conference chat, you will have freedom as to what you want to communicate and to whom you want to communicate. This way, you can protect the privacy of the message throughout the history of the conference chat.   
   
• Clariti allows you to integrate social feeds (Twitter). Once you receive feeds, you can share the feeds with others, chat from the feed or create a reminder or to-do task for yourself.   
   
• In Clariti, you can also share and view engineering CAD files from the browser itself, without installing costly CAD software like Creo, Solidworks etc.  This feature alone would save you hundreds of dollars without any extra effort, if you are an engineer.    
  

Final verdict  

As an organization, if you are already having a lot of applications that need to talk to each other and if you can afford in-house integration specialists, then you can go with Flock.  

On the other hand, Clariti is more of a unified digital work system that pulls together all your work including email, chat, cloud storage, social feeds etc in one place. Using Clariti, you can quickly find any information you want in just a few seconds, without toggling between different apps. Clariti will help you prioritize and focus on important tasks without any distractions, so that you can achieve more professionally and personally. If you are looking for a solution to improve collaboration and communication among your remote workforce, then choose Clariti –

The post Flock Vs Clariti – How do they stack up appeared first on TechGenra.

If there is an employment opportunity, you can post the job on Search Remotely. The human resource software you use should also ensure you have access to performance reviews, recruitment, training, and employee onboarding. Such features ensure your organization can grow progressively instead of being stagnant.

Below are the best human resource software for e-commerce businesses:

1. Saba TalentSpace

This HR software reinforces and recognizes employee performance using criteria such as learning and development, performance management, leadership, and succession. The software also offers different solutions depending on the requirements of your company and the challenges affecting different industries.

2. GoCo

This is a HR software that is easy to use, and it can automate different processes, including employee onboarding, payroll delivery, and PTO. The platform is secure, and it can be used to store confidential documents.

3. OrangeHRM

This is a HR software that provides cloud infrastructure, and its pricing model is pay-per-employee. The platform is scalable, and the customer support is outsourced. It is affordable, and e-commerce businesses prefer it since it can be customized.

4. Skilo

Skilo usually streamlines the process of managing the employees. Using this software, a firm can plan, review, and come up with goals that will guarantee optimum results.

5. BambooHR

This HR software offers a cloud-based system that can be used to manage and track important employee information in the system. It is affordable, and it has a mobile application option. The installation process is easy, and the customer support is organized.

6. Odoo ERP

This is a HR software that can be customized. It helps to reduce manual effort and also automate different processes through the automation of methodologies. Despite the budget and size of your firm, Odoo ensures that all business functions are present in one place to ensure that the teams in a company can collaborate well.

7. People HR

People HR can handle processes such as personnel tracking, performance reviews, and applicant tracking. It also ensures that all records are kept up to date, which means businesses will not have to spend much time managing and creating job profiles for each employee.

8. Sage People

This HR software ensures a company can make smarter decisions. Different tasks can be automated, and it is easy to create new workflows. Through Sage People, it is easy to come up with employee engagement activities through user insights present in the huge cloud-based database.

9. BrioHR

This HR software ensures you can digitize different processes, including ATS and recruitment. The support is also live, and the software is affordable.

10. Zoho People

If you have five employees or less, you can use Zoho People for free. The monthly charges will depend on the number of employees in your company. Using this HR software, you can view attendance reports, modify personal information, view balances, and leave reports, among other essential features.

Conclusion

Human resource software helps to ensure that different processes can be handled in a straightforward manner. Repetitive and manual tasks can be scheduled, and confidential information can also be stored securely using the human resource software meant for e-commerce businesses.

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Infographic created by Clover Network, a retail POS system provider

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To quickly identify competent applicants, businesses have switched to online coding tests such as those provided by HackerRank, Codility, and BlueOptima. These companies are claiming that their coding assessment tools can help recruiters identify the best coders to fill roles. But how effective are online coding tests when compared to traditional interview methods?

Do Online Coding Tests Save Time?

Without technology, recruiters spend an average of 3 days reviewing candidates, and 9 days interviewing for a role. Overall, the whole process takes 19 days on average. This timeframe jumps up to 85 days for the slowest 10% of hires. Every extra day taken to fill a role causes lost revenue, internal frustration, and potentially lost opportunities for the company.

By using technology in the hiring process, recruiters are able to cut down the hours spent recruiting for the average role. For software developer roles, one of the best uses of technology is to screen candidates with an online assessment. These tests can filter out the weaker candidates with minimal input and knowledge from recruiters.

American software company VMware found substantial benefits when using coding tests to screen applicants. For every 10 to 15 hires, they were able to save 2250 work hours by replacing manual tech screenings with online coding tests that applicants could take from the comfort of their own homes. This resulted in 18,000 hours saved per year, with twice as many candidates interviewed.

The consensus on saving time is clear; online coding tests can save recruiters a lot of time.

Do Online Coding Tests Predict Workplace Efficiency?

One of the primary criticisms of coding tests, both online and in the interview room, is that they do not always measure how well a candidate may perform in the role. Many tests are thought to be too theoretical, touching on topics that are more common in school or university than in the world of work.

This is particularly true when applicants are expected to memorise tiny intricacies of obscure algorithms that a senior developer would often just search for online. Many of the complex problems given in coding tests do not reflect the actual work that the developer might do in the role.

Some coding tests, particularly for graduate or entry-level roles, give simplified problems that are more likely to reflect real work. Another issue then arises where these problems are too simple, and you cannot distinguish between two competent candidates. Balancing these two problems can be difficult with some coding tests.

Some online coding assessment tools try to predict how well a candidate would perform in the workplace, and this is one of the major points that you should look for in a coding assessment. BlueOptima has developed Predictive Assessment, the world’s first coding assessment that accurately predicts workplace performance. There is a link between solving coding problems and workplace performance. However, outliers, imposters, and plagiarism all need to be detected by the tests to give an accurate score. Some coding assessment tools may also have other metrics that accurately predict performance, and you need to consider this when selecting the right tool for your business.

Can Online Coding Tests Remove Unconscious Bias?

Unconscious bias is an issue in the recruitment industry, according to 96% of recruiters. This is backed up by facts, with one study showing that applicants with white-sounding names were 74% more likely to be called up for an interview. With equality more in the public eye than ever, and recruiters looking to find the best candidates regardless of personal attributes, reducing unconscious bias from the recruitment process has become important.

Evidently, traditional interview methods open up the potential for bias. This could be through information reviewed on a candidate’s CV or resume, or interactions in phone calls or interviews. Even with more businesses including unconscious bias training for employees, there are opportunities for this bias to slip into the process. Recruiters are turning to technological tools to assist with removing bias.

When recruiting software developers, online coding tests are just one way to solve this problem. By using a third-party coding assessment tool, businesses can get an understanding of candidates’ ability with some bias removed. The screening process performed by these tests means that recruiters can focus on the abilities of candidates without even seeing discriminatory data.

HackerRank removes all personally identifiable information such as names, locations, age, and background. Skills identified in the coding tests and interviews are then presented in a report which attempts to remove as much bias as possible. Other coding assessment platforms have similar methods for removing bias, allowing recruiters to focus on the metrics that matter.

When it comes to removing bias from the recruiting process, online coding tests are a great step towards achieving equality.

Conclusion

Several issues occur in the traditional recruitment process. This includes the process taking too much time, and the potential for unconscious bias to slip into the decision-making process. By utilising online coding tests, recruiters are able to save time and focus on the skills that matter. This is evident by large companies such as VMware saving hundreds of hours per hire.

There are also issues that can arise from using coding assessment tools when recruiting software developers. These assessments can focus too much on theoretical algorithms and problems instead of the actual work that developers will do in the day-to-day job. Fortunately, some companies such as BlueOptima have developed tools and metrics that can more accurately predict the workplace performance of applicants.

Online coding tests have a multitude of benefits for technology recruiters. With the technology now available, they should be considered an important and essential part of the recruitment process for software developer roles.

The post Are Online Coding Tests Effective for Screening Candidates? appeared first on TechGenra.

However, it wasn’t until the invention of the modern computer that we started to mine life-altering insights from the enormous mountains of data we generate daily. 

Data science has helped businesses gain more customers, and create new products and better service. More importantly, data science has given us AI and machine learning.

Even though AI is still a nascent field, it has already impacted our lives in more ways than we could imagine. For one thing, AI is the engine behind autonomous vehicles, the puppeteer controlling the virtual assistant in your phone, and the diagnostician helping doctors save more lives.

AI is also helping us with data science, creating a closed virtuous circle that allows us to wade through colossal amounts of data that have been prohibitively large before. It is finding patterns that normal humans would have been able to spot, and it is automating the entire process, reducing the required human input.

However, this is just the tip of the iceberg; AI is bound to change the face of data analysis beyond anything we can imagine.

Here is a deeper look at how AI can enhance data science and analytics today:

#1 AI is integrating with other applications, making them smarter and automating decisions

Today, companies are using a host of advanced applications in an attempt to get an edge over the competition. Some businesses use enterprise resource planning software, ERP for short, to manage their day-to-day operations. Others rely on customer relationship management, CRM for short, to get the most value possible from their relationship with their customers.

Other companies may be using other applications, including project management software, business process management, and time management software.

That said, all these applications are bound to incorporate AI in the near future, where AI will help automate decisions. According to experts, AI will be able to automate decisions through robotic process automation, which is also known as RPA. 

Once decisions are automated, real-life data will dictate how business processes need to be altered, and there will be no need for human intervention.

The benefits here are countless. Today, RPA helps businesses slash their costs by 2 percent, yet this technology is expected to reduce costs by a staggering 20 percent within the next two years. 

Another benefit is that should AI be integrated with APIs along with other connective technologies, different platforms, such as ERP, CRM, AI, and analytics, will be able to collaborate with each other, anticipating market demand, optimizing operational processes, and maximizing business value.

#2 AI can find new insights in the data 

Analyzing data and gleaning valuable insights from it is easier said than done. To begin with, some patterns may not be obvious, and even the most advanced statistician may have a hard time finding something. 

Furthermore, if a company is dealing with real-life data, there is bound to be so much noise that any valuable data would be needles buried under heaps of haystack.

However, this is all changing with the help of AI. Rather than having to query a database or use SQL themselves, engineers can leverage AI to do this for them. Also, given the enormous computing power behind most AI systems, a smart machine will be able to pore through petabytes of data. 

Additionally, some patterns may be too intricate for a human to spot, but an AI would be able to find it with ease. This is not to mention that AI can offer recommendations based on the insights it is extracting from the data. Best of all, AI can do all of this quickly and efficiently.

#3 AI can fetch data from disparate sources and combine it in one place

We discussed above the benefits of integrating AI with different platforms: the automation of decisions. Another potential benefit of this integration is that AI can combine all the data from the different platforms and unify it in one place. 

This would require recognizing the different formats in which this data is stored as well as spotting any duplication of data and removing these redundancies; such a process would be arduous for any human, but it is child’s play for an AI. 

Over and above, AI can get data from sources that would normally be hard to track, such as call data. The end result is having all the relevant data aggregated in one place, giving businesses a holistic bird’s eye view of their operations and their position in the market.

#4 AI increases the speed of data analysis

Data analysis is a laborious process: Seeing as any data collected from the real-world is bound to be filled with noise, a big part of data analysis involves “cleaning the data,” trying to sort out what is valuable and what is trash.

In fact, data scientists may spend up to 60 percent of their time cleaning data, and if the collected data is big enough, the process may take weeks or even months. During this time, the data scientists will be confined to doing exhausting manual labor.

However, AI is changing this. Machines can learn how to clean data, taking over this arduous process and doing it faster and more efficiently than any human ever could. 

With the proper training, an AI could learn to spot outlier values, missing values, redundant values, and values that have different units.

None of this is to mention that once the data is cleaned, an AI can derive insights and make recommendations faster than any human.

#5 AI can be used for predictive maintenance

We are on the cusp of a new industrial age, Industry 4.0. Industry 4.0 is fueled by AI and machine learning, empowered by 5G networks, and made smart by IoT devices. This new industrial age will also be filled with technologies that leverage our new capabilities, including robots and predictive maintenance software.

We have already seen how AI can take decisions and make recommendations when combined with the right data. Yet, if we want to take things one more step, we can have AI make predictions based on the available data. 

Accordingly, rather than relegating data analysis to diagnosing the past or describing the present, it can be used to predict the future. 

Obviously, the predictions won’t be foolproof, but they will be reliable enough to be actionable. What’s more, AI can learn to make decisions based on its own predictions.

Putting it all together

Data science gave birth to AI, and AI has improved data science processes. 

AI can integrate with advanced applications to make use of the data contained within said applications. 

Additionally, not only is AI powerful enough to find insights that normal humans would never spot, but it also speeds up the analysis of the data by cleaning it for us. 

And, at its most powerful, AI can use large swathes of data to predict the future.

The post 5 Ways Artificial Intelligence Improves Data Analytics appeared first on TechGenra.

Industry experts have estimated that the industry loses around $17 billion on an annual basis and even this is believed to be a relatively conservative estimate. Over the previous decade mobile devices have tripled in value and are therefore so costly that they are seen as being increasingly valuable by criminals and fraudsters. 

As well as ensuring that they are increasing their customer base, combatting fraud needs to be a key consideration for mobile operators. The ways in which fraud is carried out are relatively varied and therefore sustained dedication is required to eradicate it from the ecosystem.

Increasing Customer Base

The challenges with acquiring new long-term customers is something that operators need to ensure is considered as part of their strategy, however the wider implications of fraud are a key part of this challenge and eradicating fraud will assist operators in attracting new customers, while also have a positive impact on end users.

The demand for post pay mobile contracts continues to be strong as it is a model that enables users to spread payments over a prolonged period, usually 12-24 months. This means that it is important that MNOs continue to offer this as a payment option for end users.

There are, however, drawbacks as the model is suspectable to instances of fraud as it is one that enables criminals to obtain high value devices relatively easily by using illegally acquired personal details of others. In addition to this, there is also the issue that the model excludes those who do not possess high credit ratings – this is reflected by the fact that mobile device contract rejection is believed to be around 70%, with this figure increasing to 85% during promotions and sales.

This causes issues for MNOs who are unable to substantially increase their customer base due to end users being unable to obtain the devices due to financial restrictions and is a knock-on effect of fraud within the industry.

Non-payment of Bills

Unfortunately, even once a user has been acquired, there are still issues in relation to revenue collection in countries across all continents.

Network operators report that Post pay bill drop is estimated to be 15% which has doubled in 2020 due to the ongoing Coronavirus pandemic and economic uncertainty which is being witnessed on a global level. When we examine this on a more refined basis, Mexico, Central America and Colombia report a figure that is believed to be close to 25-35% and increasing to 40% Peru – all of these figures are unsustainable in the long-term and is an area that requires immediate attention.

When we look at European countries, instances are reported for both existing and new customers, with 2-3% of current customers and 15% of new customers unable to keep up levels of payment.

In South Africa, 9% of all devices sold are blacklisted each month for non-payment via a manual process with none of the revenue lost ever being recovered.

Not only does this lack of payment negatively impact carriers but the consequences are also felt by end users as those who are able to keep up with payments see overall costs increase as lost finances need to be recouped.

There are options for operators to work towards reducing instances of fraud, including carrier subsidy locks so that users are committed to a device and network for the duration of a contract. These can still be unlocked by end users and in some countries, such as Singapore, Israel and Canada, the practice is actually illegal and cannot be implemented.

Porous Supply Chains

Theft and fraud at different stages in the supply chain have a devastating impact on MNOs, especially in the Americas where up to 15,000 devices in Brazil are stolen. In the USA one single pallet of mobile devices has an estimated street value of $1 million, meaning that not having robust mobile fraud protection at different stages of the supply chain can have devastating repercussions.

There are believed to be around 400,000 devices per year stolen in the United Kingdom, and this estimated figure is actually considered to be conservative with many instances of theft being unreported and the actual number is believed to be at least twice this number. The African Operator Group has estimated that $250 million is lost each year due to devices and equipment being stolen. In Russia, theft in the supply chain means that approximately 12% of all stock is stolen before it even enters the point of sale.

Device Trafficking 

The widespread adoption of the internet across the world, including in developing countries has meant that the grey market has seen increases in activity, which has opened up another avenue where MNOs see losses in revenue and profits. 

The GSMA has estimated that around 4 million devices are trafficked on a global basis, meaning that the cost of bulk prepaid trafficking is somewhere in the region of $900 million, a loss of around $225 per trafficked handset.

To summarise, it is imperative that MNOs consider and invest in innovative solutions to assist in preventing mobile fraud in an attempt to eradicate instances at all stages of the smartphone lifecycle. This has clear benefits for both MNOs and end users who will benefit from carrier subsidies for the latest high-end handsets and not have to be reliant on having a strong credit rating to obtain the latest and sought-after device. 

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Identify your requirements for software development 

Many people make this silly mistake that is not finalizing and not knowing what they exactly want from the software development . How can a person judge a company or a person if they don’t specifically know what they want from the other end? The change in requirements may also cause some awkward situations between the client and the customer as well. So it is recommended that one should always be sure that what they want from the other side and should not be confused at all. It is advised that one should always create an outline as it would help them to remain focused and would save both sides much time and tension.

Set your budget for software development 

When looking or hiring any software development  the one main obstacle that comes in the way is surely the budget. Cost is the main factor on which it is decided which company a person should opt for. The reason is that because there are many experienced companies out there but on the other hand, they are charging a hefty amount of money in return. It is advised that one should always analyze the amount of budget they can spare on their business related to the software department. This would not only save your time but would also save your and the company’s bargaining time as well. 

Check software development  credibility

When a person surfs the internet or his contacts, what he desires is the company’s credibility. Software development  and when hiring any company usually relies on their past performance and work. As of now, everything is on your fingerprints and the reviews and recommendations can be easily found online. The reviews not only tell about the company’s credibility but also proves its proficiency and its hidden capabilities. Moreover, it is also proof of their past work in a particular field which by seeing, the customer becomes satisfied. This also builds healthy trust between the client and the customer which helps them in future work and discussion.

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