Science & Technology

Mohammad Anas Wahaj | 05 oct 2015

Human resources component of organizations is getting transformed through technology-enabled innovations. There are a number of technological solutions that human resources practitioners are using in areas like workforce management, recruiting, learning management, performance management, analytics, compensation management, wellness, succession planning, collaboration, onboarding, workforce planning, talent management and mobile. According to March'15 survey by Human Capital Media Advisory Group, that polled 127 HR professionals at various levels in organizations of various sizes and industries mostly located in US (85%), a little more than half of talent and HR managers say that their companies have increased spending in HR technology as compared to last year. About 50% of the respondent said that HR systems provide data that helps them to make better talent management decisions. While most of the HR practitioners consider technology as useful but they also heavily scrutinize the technologies that are available and thoughtfully make decisions about which technologies should be considered for investment. Most popular and useful technologies - Mobile HR Software (38% already use, 26% plan to purchase); Talent Management Suite (37% already use, 24% plan to purchase); Workforce Planning (27% already use, 27% plan to purchase). Least popular technologies - Wellness Software (59% no plans to use, 14% already use); Succession Planning (56% no plan to use, 23% already use). The survey also points out that most HR managers (77%) agree that their staff has the skills and expertise to effectively use the HR technologies that are implemented in their organizations. Read on...

Talent Management: Firms Boost HR Tech Spending
Author: Elyse Samuels

Mohammad Anas Wahaj | 03 oct 2015

Mainstream financial institutions are exploring to integrate potentially disruptive blockchain technology that is behind virtual cryptocurrencies like bitcoin. Blockchain is a decentralized public and transparent ledger of all bitcoin transactions. While traditional banks work through a centralized electronic banking system. Now 13 of the leading global banks have joined a project to collaborate on the use of blockchain-based distributed ledger. R3, a New York-based innovations firm, is one of the leading project partner and seeks to establish a set of standards that banks can use. The project will research and experiment shared ledger solutions to meet banking requirements for security, reliability, performance, scalability and audit. Financial executives, Niall Cameron of HSBC, Satoshi Murabayashi of Mitsubishi UFJ Financial Group, and Robert Sams of Clearmatics are positive about the project and its usefulness for the financial sector. Read on...

CNBC: How Wall Street is embracing bitcoin
Author: Matt Clinch

Mohammad Anas Wahaj | 26 sep 2015

Nonprofits and charitable organizations need to evolve their processes, systems and strategies alongwith the technology-driven changes that are happening in businesses, governments and the world in general. Effective, efficient and timely fundraising and financing of projects is critical for the survival and success of nonprofits. According to the report 'The Business of Nonprofits: Amplify Your Fundraising Success With New Technologies and Proven Business Practices' by 121Giving.com, based on the survey of 450 nonprofit executives and program directors in the US that was conducted in July 2014, '54% of nonprofits raised less than 25% of an intended goal during their last online fundraiser. Additionally, more than 1/3rd of those surveyed describe their adoption of technology as "struggling" and 74% state that they collected less than US$ 5000 in valued goods from a donation drive.' The survey also found that fundraising, donor solicitation and financing of daily operations are challenges for many nonprofits. Moreover, the results of the survey indicate that most nonprofits still rely on traditional processes and outdated technologies that fail to deliver fundraising outcomes required to succeed in today's competitive digital-driven environment. Other main findings of the report are - 54% of nonprofits do not ask retailers for discounts on products; Only 2% of nonprofits raise money online to buy products in stores or online; 22% ask the community to donate products; 68% of nonprofits pursue grants to cover expenses for their programs; Only 7% of nonprofits use online crowdfunding tools to raise funds. Liz Deering, co-founder of 121Giving.com, says 'Nonprofits are wasting precious time, dollars and resources to raise funds and procure the products they need to run their operations.' The report points out that nonprofits are indeed making attempts to improve their operations through proven business practices (33% of nonprofit leaders upgraded hardware or software in 2014 to improve programs). The report also highlights the opportunities for nonprofits to reach their campaign goals through - Adopting latest business practices; Focusing on project-specific funding needs while seeking grants; Ask, negotiate and bargain like a business to obtain product discounts; Using data and analytics for measurement; Utilizing social media connected individuals and communities to publicize initiatives and programs; Investing in technologies to improve efficiencies and reduce labor intensity of core operations. Read on...

PRWeb: Are Nonprofits' Operations Keeping Pace With Advances In Fundraising?
Author: Sara Leiter

Mohammad Anas Wahaj | 19 sep 2015

Retailers need to identify their most valuable customers to specifically target and focus their specialized marketing campaigns for building long-term customer relationships with them. Most valuable customers are to be retained for maximizing profitability. But according to the study 'Engaging Customers Across the Lifecycle Journey: How Clienteling Helps Enhance Customer Relationships' by Yes Lifecycle Marketing and Retail TouchPoints, based on the survey of nearly 200 retail marketing executives, most retailers are still struggling to utilize customer data effectively to find and nurture these important customers. Main highlights of the study are - 52% say identifying and engaging their most valuable customers is one of their top business challenges; Nearly 1/3rd of respondents (32%) say they're not able to integrate or analyze their data in a timely fashion; Employee access to data is uneven and most who need it don't have it (44% of C-level executives have customer data while only 27% of store managers and 13% of store associates have access); Only 27% of retail marketing executives have their customer's lifetime spend on file and only 18% have data related to shopping preferences of customers. Read on...

Direct Marketing News: Infographic - Retailers Fail to Fully Leverage Customer Data
Authors: Elyse Dupre, James Jarnot

Mohammad Anas Wahaj | 16 sep 2015

Technology in education transforms many aspects of teaching and learning. Considering wide landscape of education (Primary Education, Secondary Education, University Education, Distance Education, Continuing Education etc), technological interventions may have different outcomes in different areas. Moreover, outcomes also depend on how technology is implemented. Generally around the world, and specifically in developed countries, there are trends to equip classrooms in schools with computers, laptops and tablets, with an intent to better engage students, enhance their learning and bring them into a digital age. But according to a recent report by OECD (Organization for Economic Co-operation and Development), that covers the period between 2000 and 2012, 'The impact of information and communication technologies (ICT) for education is "mixed, at best". Programme for International Student Assessment (PISA) results from 31 countries show no appreciable improvements in student achievement in reading, mathematics or science in the countries that had invested heavily in ICT for education.' The report highlights that frequent use of computers in classroom can be a distraction and have weaker learning outcomes. OECD analyst Francesco Avvisati says, 'Technology is most effective when students use the Internet in the classroom for guided research and project work.' Commenting on the content of the report, Professor Jim Slotta of Ontario Institute for Studies in Education at University of Toronto says, 'If you read this report as saying that it's up in the air about whether technology is helpful for learning, that's the wrong reading.' He further adds, 'Personally, my feeling is that the research on how to use technology well for learning is just beginning to turn over some interesting, useful new leaves in the book...Technology is most effective in the classroom when it is used to develop skills similar to those that adults are using in everyday life, such as finding resources, critiquing arguments, communicating with peers, solving problems and working with data.' According to Mr. Avvisati, 'It is important that educators remain in the driver's seat...The key to any technology rollout in the classroom is clear goals and training for teachers, but ultimately it is about training good teachers.' Read on...

The Globe and Mail: Computers in classroom have 'mixed' impact on learning: OECD report
Author: Affan Chowdhry

Mohammad Anas Wahaj | 14 sep 2015

Gaming technologies can transform the architecture practice with their ability to create interactive visual spaces. Architects at Tsoi/Kobus & Associates in Cambridge (USA) are utilizing processing system that powers virtual reality games to put clients inside development projects before they are built. Using a cloud based system, architects can create the building and then ask clients to visualize it through entering it with a pair of virtual reality goggles. Client gets a immersive first-person view, can walk around the building and make suggestions to tweak designs. The process can be used before the contract for the building project is awarded and could eliminate the need for creating life-size physical models. Architect Luis Cetrangolo was responsible for bringing the system to the firm. Read on...

The Boston Globe: Architecture firm turns to virtual reality to show off building designs
Author: Katie Johnston

Mohammad Anas Wahaj | 08 sep 2015

Healthcare industry in US is undergoing transformation driven by multiple factors that include technology, changes in consumer behavior, rising costs, legislation etc. Employees are becoming more independent in making their healthcare decisions that were earlier influenced by their employers. Healthcare providers are now dealing with more proactive consumers. Healthcare marketers need to understand consumer preferences, adapt to the changing needs, create products and services that fulfil needs and satisfy customers and utilize consumer insights to develop effective marketing progams. Brent Walker, Chief Marketing Officer of c2b Solutions, explains the drivers that are leading to shifts in healthcare and how marketers should adapt and succeed in this new healthcare scenario. According to him, in addition to rising costs, the three main reasons that we are evolving towards consumer-driven healthcare are - (1) Demographic and Socio-Economic Realities: More pronounced health issues and chronic conditions of aging Baby Boomers; Lack of health insurance for a sizeable population; Heterogeneous population; Expensive healthcare products and technologies. (2) Legislation: Healthcare system is adapting to Affordable Care Act; Health insurers have to deal with individual consumers; Healthcare providers are investing in infrastructure; Integrated Electronic Health Records and Big Data technologies; Reimbursement based on medical outcomes and patient satisfaction. (3) Technological: Digital media is a catalyst of consumerism; Informed consumers due to internet and mobile apps; Improved transparency; Better ability to assess cost and quality, and research about products and services with more choices; Inclination towards prevention and wellness. He explains three implications that healthcare providers have to plan for - (1) Massive investments are required for technological upgrade and update of systems to facilitate integrated patient record sharing and also reporting care quality. (2) Business models must change. Physicians are leaving smaller firms to join large healthcare systems due to IT investments and scale necessary to control costs and manage risks. (3) New competitors are entering as a result of advancement in technologies and consumer-driven approaches. In this changing healthcare landscape marketers have to continuously evaluate and assess their direction. He suggests four dimensions to do so - (1) Data: Right data to understand and reach the target audience. (2) Systems: Infrastructure to understand consumers, create insights and build valueable customer-firm relationships. (3) People: Have consumer marketers in team with experience in latest web and mobile technologies. Combine industry experience with consumer insights and customer behavior understanding skills. (4) Processes: Newer sales methods. Analytics and measurement of marketing effectiveness. Focus on analyzing consumer acquisition, retention and satisfaction. Read on...

Forbes: The New World Of Healthcare Marketing: A Framework For Adaptation
Authors: John Greenfield, Kimberly A. Whitler

Mohammad Anas Wahaj | 08 sep 2015

The relationship between consumers and businesses is continuously evolving. Technology is playing an important role in creating a shift in consumer behavior. Smartphones are providing consumers with connectivity that is driving this change. Ori Karev, US CEO of Gett, explores the reasons that are leading to transormations in consumer dynamics and how they interact and connect with brands. According to him, 'Consumerism has shifted from a world of physical images and personal communication to a world of imagery and perception. Regardless of industry, product or service, vendors that enable instantaneous access and deliver on their digital promise will survive.' Consumers have become more pragmatic. They have access to tools and services to research for best solutions at best prices that are available with just a tap on their phones. Online consumers have become more like business-to-business consumers. But they do have emotional attachment to brands that can provide them with the best experience. The power is shifting towards consumers and businesses are getting more and more consumer dependent. Mr. Karev explains, 'On-demand industry has gone through such a rapid change of behavior within a mere five years. The swift change stems from two factors: the availability of smartphones, and people's desire to maximize the convenience and efficiency of procuring services and products.' He further points out that certain fundamentals of consumer-seller relationship will remain - 'Shoppers want to do business with companies that are fair, so this treaty must hinge on veracity, transparency, credibility, honesty and good will.' Today people place most value on fulfillment and satisfaction. They have concerns regarding how a vendor treats its employees and suppliers and would get influenced by these factors while making purchases. Online research, decision and purchase behaviors have now made consumers a strong part of businesses. Companies that understand and fulfil the consumer expectations - real-time, always-on support; competitive pricing; respect and transparency towards vendors and suppliers; ethical corporate culture - in the current on-demand environment will be the one that survive and succeed. Read on...

ReadWrite: The Changing Face Of Today's Consumer
Author: Ori Karev

Mohammad Anas Wahaj | 07 sep 2015

Technology provides automation, efficiency and scalability to businesses, thus improving processes and saving costs. Moreover technology also has a sizeable impact on the human resource aspect of businesses as it takes over certain tasks and works that were earlier performed by humans. Technology's affect is now even felt in knowledge related work. So will the technology replace humans and be the competitive advantage? Prof. Thomas H. Davenport of Babson College and Julia Kirby of HBR argue that although technology has a critical role to play in success of businesses but people will continue to remain as the source of enduring competitive advantage. While citing example of Southwest Airline, they explain, 'Industries like airlines have been obsessed with asset utilization as the key to competitiveness. And making the minute-by-minute decisions required to maximize asset utilization is unquestionably done better by smart machines. But optimizing asset utilization isn't enough to sustain a competitive advantage. Once smart machines are built to solve problems in asset efficiency (or indeed any area of operations) they very rapidly spread and become pervasive across an industry. Therefore, they cease to provide a competitive advantage.' They also cite Geoffrey Colvin's book 'Talent is Overrated' in which he makes a point that talented people always succeed in the context of a system. And star employees often get more credit then they're due. Boris Groysberg's research also points in the same direction that high performance may not be replicated in a different environment. It's often a well-designed system that brings out the best in people and makes them valuable. They mention Geoff Colvin's recent book 'Humans are Underrated', in which he explains that effective organizational system isn't just a mechanistic one of capital investment. It's a human system that relies heavily on unique human capabilities. So collectively, human talent is not overrated; it is extremely valuable. There are unique human capabilities like empathy, storytelling etc, that will keep them employable even if technology is taking over jobs. And even in cases where humans are competing with technology, there will still be certain tasks and decisions that will remain with humans. Prof. Davenport and Ms. Kirby conclude, 'To create an enduring competitive advantage, you will always need people. And you need a system that engages them and allows what is unique and valuable about individual people to be leveraged - not a system that compels people to perform standardized acts in the same way and therefore commoditizes them as undifferentiated human resources.' Read on...

Harvard Business Review: Automation Won't Replace People as Your Competitive Advantage
Authors: Thomas H. Davenport, Julia Kirby

Mohammad Anas Wahaj | 06 sep 2015

'Digital Marketing' utilizes online technologies and provides opportunities to add prospective customers at the top of the sales funnel and nurture them to build a strong customer base for products and services. Advancement in technologies have provided multiple ways and channels through which marketers can connect and engage with the prospects and build strong relationships. One of the most important aspect of digital marketing is the measurability of the campaign through analytics. The availability of metrics provides marketers with clear understanding of the audience, their interaction with the brands and success of the marketing campaign. According to Jamie Turner, founder of 60 Second Marketer and co-author of 'Go Mobile', the 7 essential channels of digital marketing are - (1) Responsive Websites (2) Search Engine Marketing (SEM) that includes Search Engine Optimization (SEO) and Paid Search (3) Online Display Advertising (4) Video (5) Social Media (6) Mobile Marketing may include Mobile Website, Mobile Search, Mobile Display Ads, In-app Display Advertising (7) Email Marketing. The action steps required to leverage digital marketing include - Taking the initiative and start using digital marketing; Implement gradually with complete understanding and continuously analyze campaign progress; Use analytics to measure and track campaign results, make adjustments and optimize the process for better ROI. Read on...

Business 2 Community: Digital Marketing - The 7 Essential Channels
Author: Jamie Turner

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