What Small Businesses Think of Big Data and Analytics ?

The big data trend has been gaining traction rapidly in the international markets. Almost all the multinationals have their own data analytics arm; or they outsource this service from the many data analytics companies that excel at it.

But, it is undeniably true that many organizations today are making data waves. But, it is also the undeniable truth that most Small Businesses are yet to join this bandwagon. It’s been estimated that with the rapid spread of mobile devices and the “Internet of Things,” the world is generating more than 2.5 billion gigabytes of data every single day.

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Ethnically Yours- Big Data

Every culture in the world comes with a set of norms and rules. And the way one should dress happens to be one of those unspoken norms that govern popular conscious. Society decides what is appropriate and what is not for various gender, ethnic groups, etc.

Although these days dress has become mainstream everywhere, there are still groups of people that adhere to traditions. And ethnic wear is one of those long standing traditions that have gripped the imaginations of designers everywhere.

Which is why, the ethnic wear industry in India today comprises 75% of the total women’s wear market, at USD 10.82 billion. This is a huge number, considering the fact that the Indian Apparel market is presently valued at USD 39 billion and expected to grow at a CAGR of 9.5% to reach USD 60 billion by 2017.

With more than 10 million women joining the workforce, the apparel industry is expected to gain a potential 35 million consumers by 2020, according to a Technopak report. These numbers are clear indicators that modern and comfort based dressing will not erase centuries of traditional ideals.

Ethnic wear, especially in India today, is most popular during the wedding (read winter) season in India. Weddings see a variety of ethnic and traditional dress styles coming together. The challenge for most designers and retailers, though, lies in deciding what will earn those profits as well as brand recognition.

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The Promise of Large Retail Sales- Webrooming

You wish to buy new boots; you have been looking for a good design sometime now. You trawl various online marketplaces, looking for options, prices and ideas. You select a few popular brands; add them to your wish list on many of your favorite websites. You narrow down you list to three possible choices.

Now you are sure that you will buy one of the three pairs this weekend. Why weekend? Because that is when you can go to the mall of course! You can go to your favorite shop, try out a few other pairs just for fun, and finally get that coveted pair of boots too! And the trip to the mall means checking out all the new stuff, in person and even splurging a little more than you initially intended. All in all, a good day, then.

If you have done this, you will be pleased to know, you are not alone. There are many who check out products online, but end up buying at brick and mortar stores. The marketers have a new buzz word for what you are doing. They call it ‘webrooming.’

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Brain Trauma and Big Data…

The death of Phil Hughes, Australian Test Cricketer, due to injury during a cricket match, came as a shock to the international community last year. The reason for his death- a subarachnoid haemorrhage or in simpler words internal bleeding in certain parts of the brain.

The fact that in spite of medical science being so exact, Hughes could not be saved is an indication that when it comes to the brain and its many intricacies, even the best among us are left with almost no knowledge.

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New Year Resolutions…

It is 2015. And people are reappearing, back into the moulds of accepted work-life balance, trying to get back to the mundane. The parties and celebrations are done with; even the hangovers are receding. The revelry that embodies the holiday season is dying down.

After all the binge eating and binge drinking and general binging, it is now time to ‘detox.’ And what better way to do so than make resolutions!

The New Year brings hope of a better life, new chances and newer opportunities to people. And they make their resolution, promises to themselves and others, of how they will change, grow, improve in the New Year.

Full of enthusiasm and positivity, we end up deciding how the new year will shape up to be much better for us, and how we will make sure to be instrumental in the process of self change. A few days of adhering staunchly towards our goal increases this feeling. And then, poof, everything goes pear shaped again.

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Business in Celebration!

It’s Christmas Eve. The whole world is waiting with bated breath to welcome ‘the messiah.’ All the lines have been erased to witness the birth of Christ- the savior. This in itself is a miracle. Even before he arrives, he brings with him joy and peace.

Jesus lived centuries ago. And still his words, his very presence lingers in the hearts of people all over the world. And in this atmosphere of hope and happiness is the reason that Christmas is such an amazing time for us.

Businesses start preparations months in advance to cash in on Christmas. But we believe differently. We believe us and by extension most business owners are engaged in spreading the currency of love and joy.

Most businesses that survive in the long term end up adapting to their own changing sets of consumers. But with ecommerce becoming almost mainstream, and the huge amount of choices they provide, it has become necessary to find newer ways to retain customer attention.

Grabbing eyeballs may be easy even, but getting them curious enough to actually continue to look at a particular product or service is the real challenge. The virtual world is like a quagmire of options- it entices your consumers, yes; but it distracts at the same time.

With IoT proliferating and growing, it is becoming too easy to gather data. But converting that data into actionable insights is another challenge. Until now, we have had to rely on surveys and other statistical but human methods to get to the bottom of problems.

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Big Data and Food Production…

Big data has revolutionized the way we solve our many problems. It has completely changed the world’s perception of people and things. With the availability of precise and thorough information, making decisions has become easy. The magic of Big Data has spread everywhere. All possible applications of data analytics have been studied. Newer and better uses of big data are being discovered daily.

Data analytics will lead us to a connected world where everyone and everything has an online history. In today’s world itself, many countries face food shortage. Global warming has far reaching effects. One of these is the change in weather conditions all over the world. They may be comparatively mild, but we are feeling these changes all the same. As a result, food production is affected drastically.

According to the United Nations’ Food and Agriculture Organization, food production must increase with 60% to be able to feed the growing population expected to hit 9 billion in 2050.

So we step into the future of farming and food production with Big Data! Farmers today produce three times as much food as they did 50 years ago using just 12 percent more land, thanks to new technologies and better farming practices.
But the global playing field isn’t level. In Africa, farmers produce a fraction of what they could, according to the Forum for Agricultural Research in Africa, and most barely get by, struggling against infertile soil, drought, and diseases.

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Advertising: All about Perceptions…

If we look at the history of the world, there has always been one constant – advertising! We have constantly advertised products, services, people, ideas, perceptions, etc.

Of course, today, advertising is all about selling products or services. But is not any kind of propaganda, prejudices, even ideas- a kind of advertisement?

We equate ads with the ones we see on billboards and T.V., hear on radio, etc. The term, ‘advertising,’ has been used by modern day businessmen as an out for selling their product. Students learn advertising in schools and colleges. Special positions are created for them as well. There is a thriving industry that revolves around the term.

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Reduce, Reuse, and Recycle

A Spanish woman recently came to India for the first time and visited quite a few Indian cities. At a private film screening in Mumbai, she was heard saying, “India is full of S**t!” None of the Indians present protested this statement. In fact, quite a few actually agreed with her. Recently Indian Prime Minister Narendra Modi launched the Swachh Bharat Abhiyan- an initiative akin to the Ice Bucket Challenge, meant to clean the country of the garbage that we are so used to seeing around us.

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Equal or Unequal? You Decide…

When Microsoft CEO Satya Nadella was asked to give his advice to women who are uncomfortable requesting a raise, he replied saying, “It’s not really about asking for the raise, but knowing and having faith that the system will actually give you the right raises as you go along.” Not asking for a raise, he added, is “good karma” that would help a boss realize that the employee could be trusted and should have more responsibility.

These comments though, were not well received by the online community. And Nadella was forced to retract his words with an apology in which he said that men and women are equal , hence should receive equal pay.

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