CMO Dhoby Ghaut Business Network

As a CMO Dhoby Ghaut, its very critical for you to understand developing brand strategy is extremely critical. The most important asset your company has is its brand. Quite simply, it drives the direction of your business. So you should definitely have a well thought out brand strategy in place.

Increasing competition in business develops similar products with good quality from different manufacturers. But only an effective, innovative and Digital Strategy & planning can make your business and products more popular.

For your profession as CMO Dhoby Ghaut it becomes your responsibility to stay connected with like-minded supporting industry experts who can guide and help you deal with your day to day work issues.

What Does It Mean To Be A Resilient Person

Tops 7 Mistakes Executives Make When Digitizing The Business

If you are entrepreneurial in nature owning a business is very exciting adventure. It can also be the most difficult thing for you to get into if you are not prepared.

Did you know that five of the biggest tech giants viz. IBM, Microsoft, Google, Facebook, and Amazon have recently formed a partnership for the research and development of Artificial Intelligence?

And these market leaders form just the top of the cream. Thousands of startups like Kwiziq, JamieAI, and Verv are blooming across the globe, investing in the development of upcoming AI era. So what is it that all these businesses have found in the potential of this technology that is driving them to hustle? And more importantly, why is it important for your business to participate and adapt to this futuristic technology?

More efficient digital assistance

Machines have since the beginning set themselves as important because of their ability to enhance human efficiency. Let's just assume what change in efficiency can be brought upon when these machines become actually intelligent; when they can make best possible decisions on their own, without being affected by the limiting constraints of human beings? There will be fewer errors, less unpredictable problems, and fewer delays, all of which will have a cumulative effect on the overall efficiency of any system.

Digital marketing at its best

Many companies are already in the process of garnering the potential power of artificial intelligence and are working with intelligent chatbots to enhance their marketing efforts. It is no wonder they have taken this route. Chatbots and other similar AI marketing solutions can take digital marketing to its extreme, where you can solve the queries of your potential customers, create interactive marketing campaigns, and resolve many repetitive and monotonous tasks without having to invest in multiple resources.

Limitless exploration

When it comes to exploration, biological boundaries of humans have always been considered as the biggest limitation. And it is not just the biological needs that have kept us from exploring inhospitable environments of space or underwater. These limitations are also in the form of our sensory perceptions. There are many wave patterns and frequencies that humans are simply unable to detect, this is why machines like the thermal camera that detects infrared waves have become so important for the seamless exploration even of our immediate environment. Machines with artificial intelligence can remove all these problems with a single stroke.

Wide application scope and new opportunities

As opposed to the most recent technological developments, AI becomes more desirable because of its far-fledging application. Since most of the present technological advances are limited to the technological ground only, the field was losing its significance in other spheres of life. But with AI, such is not the case. Its potential has made it a most sought-after invention in the areas of medical science, financial systems, air transport, heavy mechanical industries, and even art.

Transitional Shift

Unlike social media, AI is not a booming phase. It is the development of a completely new ecosystem that will change the technology as we know it today. There is no limit to what the future may hold when we come to the peak of AI development when intelligent machines will be working without the biological constraints of human bodies. It will continue to evolve at an exponential rate, solving perhaps, some of the most profound mysteries of the universe.

At present, even with all its advancements, AI can still be considered in its newborn stage, and for all those businesses that aspire to survive and thrive through this transitional shift, it is extremely important for them to adapt.

Advantages Of Digitization Of Records

Digitization Challenges And The Importance Of Branding

With the support of our professional business network, you get the opportunity to exchange experience and knowledge at a top professional level, and to strengthen and develop your own skills within your management and specialist areas.

Through business relationships and experience sharing in confidential settings for CMO Dhoby Ghaut, we strive to create personal and business value for all our network peers.

Accelerating AI For Local Businesses Smes

When I was ten years old at a summer camp I was leading in the potato sack race. To check on my competitors I looked over my shoulder and suddenly tripped and fell. I came in last place. Even the slowest person, Marsh Mellow Matt beat me. It was humiliating. But in the end I gained a good learning experience.

When a bargain-brand product attacks your premium-brand space, is it still healthy to look over your shoulder? Will you trip over too?

In a robust economy it's relatively easy to maintain profitable growth of a premium-brand product. Conversely, in today's economy, the competitive forces are testing the best of us. We are entering a new paradigm of business and the days of conspicuous consumption are quickly receding. Since 2007 over 8 million jobs have been lost. We have chronic unemployment at 10%, or in reality its 17% when you add the people who gave up looking for a job. As fear, insecurity, and the need to be frugal enter the consciousness of consumers, companies are responding by introducing lower price bargain-brand products. What's a premium-brand to do?

There are three strategies a premium-brand can consider; (1) Introduce your own bargain-brand, (2) Innovate a new value product category (3) Or, maintain status quo. Let's consider the ramifications of deploying your own Bargain-Brand.

As Jacqueline Kennedy once said, "I don't react, I respond."

There's a saying, "Never fight a pig because you'll get muddy and the pig will enjoy it." The same goes for a premium-brand looking to protect its market share against a bargain-brand. Every day we see new bargain airlines, bargain consumer products, bargain cars, bargain food, and bargain electronics. Be careful of the panic reaction when you deploy short term tactics in price discounting and couponing. It may only deplete profits. You can hold the line, but can you afford customers who defect to lower price brands. As Jacqueline Kennedy once said, "I don't react, I respond."

Seek your uniqueness

There are no right answers, but a journey of discovery will help determine your strengths, weaknesses, and uniqueness. In a recent book by Dr. Caroline Leaf, called, The Gift In You, this PhD. Researcher discovered there are seven layers of thinking processes in our minds. The seven layers of thinking processes are: Intrapersonal, Interpersonal, Math/Logic, Visual/Spatial, Music, Kinesthetic, and Linguistic. Starting from the most dominant thinking process, when a new thought enters our mind it will loop into the seven layers in a different sequential order. For example, someone who thinks first in music will be able to read between the lines to give meaning to it. While a logic/math dominant thinker performs pattern recognition in huge numbers and reasons in a precise order. We all see the world differently and think differently. We are all unique and so are our companies and the way we collective process our thinking. As such it's fruitless to be like someone else such as Steve Jobs. None of us can think like him and nor do we want to. We must learn to be ourselves by knowing our uniqueness and using it to your advantage.

Are you an elephant or a cheetah?

As Shakespeare once said, "To thine own self be true." In other words, do you have the competencies to compete as a Bargain-Brand?

When launching a new product you'll have to adjust and adapt quickly. Is your company a cheetah that can move quickly and adapt to consumer and market changes? Or, are you a slow moving elephant that makes decisions at a sluggish pace? A slow moving elephant should think twice when competing against fast moving bargain-brand cheetahs.

GM was slow to introduce Saturn to compete against the Japanese, but Intel was quick to respond to constant AMD attacks. At first, Intel's bargain-brand chips (Celeron) performed poorly, but they responded quickly to the market and beat AMD at their own game.

Will you divide and conquer yourself?

Julius Caesar's strategy to overcome the enemy was to divide and conquer. When launching a Bargain-Brand, you might be dividing your resources and placing your entire organization into a weak position. Without sufficient resources, people, and focus, both your premium and bargain brand products could become diluted and fail. If the Bargain-Brand fails then you'll have the added cost and time of cleaning up plus the cost and time to rebuild the Premium-Brand.

It cost GM $15 Billion to launch and maintain the Saturn division. Delta Airlines launched Ted Airlines and lost billions too. These two elephants didn't understand their uniqueness nor able to response quickly to market changes. Rather they copied the competition thinking that would satisfy the market.

On the other hand, fifty years ago, Anheuser-Busch was facing a low-price assault from regional players which opened up a whole new market category. Anheuser-Busch responded by opening up another company that was completely separate from the parent company; perhaps you've heard of Busch Beer.

Are you looking at your customers or just your competition?

The famous basketball coach John Wooden won more college basketball championships than anyone else. Part of his success was to never allow one player to be compared to another. Rather, each player was judged by his own skills, performances, and productivity. Companies trying to copy Bargain-Brands don't have the same competencies, people, collective thinking processes, and experiences like their competition. Look at Steve Jobs and his string of successful products; iPod, iPhone, iTunes, etc. Therefore, don't copy your competition, rather seek what is good for the customer and use your uniqueness to develop your product.

Know thy customer

This is a key time to study your customer to determine their true needs and the perceived value of your offering. Advances in Neuromarketing have discovered that traditional marketing research can fall short in truly understanding how a customer receives your message. Each year billions of dollars are spent on traditional market research and still 80% of new product launches fail. Neuromarketing will give you insight on the emotional needs of your audience and how they will perceive your messaging and marketing.

The power of Neuromarketing starts with the engagement of our seven senses; (1) Taste, (2) Smell, (3) Hearing (4) Touch, (5) Sight, (6) Humor, and (7) Intuition. To make it all work one must understand the power of association that directly impacts our emotional brain and how past experiences are recalled when we encounter a brand experience. Walk into a Whole Foods Store and you're bombarded with a cornucopia of beautiful food, fresh baked bread, brewed coffee, and desserts turned into art. You're flooded with emotions of mom, home, security, abundance, and happiness. The experience is frequently joyful and you're willing to pay premium prices for their products.

The power of association will engage our senses to recall positive experiences that we will tie to the brand. Called somatic markers, they represent a total compilation of emotions, negative associations, and positive associations. When a woman is given a light blue box with a white ribbon, the Tiffany brand and blue color evoke strong feminine emotions. When we think of a well branded product, such as Coach, Chanel, Harley Davidson and Tiffany, many of us experience an emotional and somewhat sensual positive response. A good brand tied to Neuro-marketing should offer:

o A great experience that exceeds customer's expectations
o A clarification of the value of the product
o A decision by the prospect to consider purchasing it

How we associate products with past experiences can determine our purchasing considerations. Mr Lindstrom in Buyology highlighted a few examples such as;
o Light blue for a woman can be associated with engagement, marriage, babies, and fertility. Pink is associated with luxury, sensuality, and being feminine.
o Color will increase brand recognition by 80% and represents up to 50% in the decision making process to choose a brand product.
o People will buy more out of love (53%) versus sex (26%).
o Be authentic, transparent, and real. We buy from people we can relate to.

Don't let your Bargain-Brand cannibalize the profits of your Premium-Brand.
If you decide on launching a Bargain-brand be sure you are capturing the right revenue. If one part of your target audience is not profitable with your premium-brand and your bargain-brand can capture that profit, then go for it. On the other hand, if your Bargain-brand is going to cannibalize your premium-brand profits then reconsider your options.

It's essential that your bargain-brand have a different perceived value, messaging, and pricing. Years ago Kodak came out with a bargain-brand film that had little distinction from the premium brand. Customers went for the lower price product cannibalizing profits from the premium-brand. On the other hand, when P&G purchased Luv's Diapers brand, it repositioned it as a bargain-brand. Their Pampers brand was given greater features and advertising thus creating a higher perceived value.

Must Develop a Difference in Perception and Value
If you offer a bargain-brand, then your goal is to offer two products with much separation in value and messaging. You'll want to consider using Neuromarketing research techniques. It is essential that the premium product maintain its true value benefits while the lower-price brand act and look like a bargain-brand one. By acting like a bargain-brand, you'll be able to cut costs on marketing, support, operations, and production and thereby creating the gross margin to compete effectively on price. You may want to use a hot button here to connect people to your article on Neuromarketing.

When Anheuser-Busch rolled out Busch Beer they created a whole new company and identity. They invested in new distribution, new trucks, and new sales people to ensure that the Premium-brand and Bargain-brand were not confused but optimized.

Don't recreate the wheel or build a new organization unless there's a market for it
GM invested $15 Billion in Saturn and it failed. Is your goal to market a Bargain-Brand or build a new company?

Consider your resources, sales volume, and gross margins. Your goal is to make a profit. If your Premium-brand cannot serve another large market, then a new organization, such as starting up a discount airline division or Busch Beer may be an answer. On the other hand, if your premium-brand can cover the market then re-consider your options. As I mentioned earlier, GM spent $15 Billion on the new Saturn division, when their existing product lines at Buick and Chevy reached the same target audience.

The Final Strategy to Consider: Innovate a new product category
A recent book called Blue Ocean Strategy stated that it is sometimes better to innovate a new product than to compete in blood thirsty waters or Red Ocean. Look at the crowded fields of electronic consumer products, automobiles and food. When you launch a new product in these categories how do you stand out?

Conversely, companies will innovate new products developing a new category where there is no competition; hence Blue Ocean. Years ago Sony launched the Walkman. Apple introduced the iPod and iPhone. An example in Blue Ocean Strategy was the Casella Winery from Australian who wanted to launch a new wine in a very crowded and snooty category.

A strategy based on innovation will look at different customers with shared commonalties. In the crowded wine business, more wineries did not think of looking for low budget beer drinkers. The Casella winery saw things differently and believed beer drinkers would want wine if the purchase decision was made simple and fun. Out came Yellow Tail wine in simple red and white versions.

A blue ocean is created when a company achieves value innovation that creates value simultaneously for both the buyer and the company. The innovation (in product, service, or delivery) must raise and create value for the market, while simultaneously reducing or eliminating features or services that are less valued by the current or future market.

The lesson I learned in the potato sack race was easy, keep your eye on the goal line not what your competition is always doing. John Wooden's success was doing the best he could possibly do every day. As you consider your premium brand, think about the best you can do every day with it. As any typical SWOT (Strengths, Weaknesses, Opportunities, Threats) and PESTEL analysis (Political, Economic, Social, Technology, Environmental, Legal) you should consider:

Are you an elephant or a cheetah organization?
Will your Bargain -Brand cannibalize your Premium -Brand profits?
Do you have the resources to run two brands simultaneously at a profit?
Are you able to clearly define and communicate the different unique selling proposition for each brand?
Will the customer perceive the differences?
Will your current Premium-Brand cover this market? Or is the Bargain-Brand a new demographic?
Lastly, do you innovate a new product to create a new category and target audience?

As Jacqueline Kennedy once said, "I don't react, I respond." Panic and fear should not be part of your tactics, but a well thought out response that optimizes your resources, strengths, and uniqueness in meeting the needs and wants of your customer.

Networking has always been considered a powerful tool for improving business prospects, advancing a career, and developing ideas. Other than some brief, structured events, networking has been mostly informal and inexpensive in comparison to cost they otherwise spend on different channels. But membership is growing in many formal, long-term networking groups, and so is the price tag.

Our groups are not groups for generating sales leads, nor are they places where individuals can drop-in to gain quick advice on an immediate challenge.  Members also sign a confidentiality agreement and benefits from the guided mentoring to help each other.

These groups include an experienced facilitator and use a structured discussion method to ensure appropriate participation.

Chief Information Officer Downtown Supply Chain

As a Chief Information Officer Downtown, its very critical for you to understand developing brand strategy is extremely critical. The most important asset your company has is its brand. Quite simply, it drives the direction of your business. So you should definitely have a well thought out brand strategy in place.

Increasing competition in business develops similar products with good quality from different manufacturers. But only an effective, innovative and Digitization Challenges & planning can make your business and products more popular.

For your profession as Chief Information Officer Downtown it becomes your responsibility to stay connected with like-minded supporting industry experts who can guide and help you deal with your day to day work issues.

Focus Groups As Qualitative Research

e-Marketing Strategy: 7 Dimensions to Consider For Digital Growth

If you are entrepreneurial in nature owning a business is very exciting adventure. It can also be the most difficult thing for you to get into if you are not prepared.

In the last century, the world saw a massive revolution of innovation.

Beyond modern marvels such as digital advancements and the evolution of the smartphone, artificial intelligence is gradually changing society and how people navigate their lives. Machine learning is gradually being integrated into nearly every aspect of life.

It's already used in machine translation, email spam filters, ATM check depositing and facial recognition - and that's just what an average person uses day-to-day.

Predictive intelligence is making businesses more efficient, effective and successful. B2B companies deploying predictive intelligence for marketing activities are closer to the holy grail of understanding each individual customer - and personalizing all content to their needs and interests.

Technology not far from artificial intelligence is making a significant impact on the marketing industry. In fact, 86% of marketing executives have already indicated they have seen a positive return on investment in marketing technology and predictive analytics. The future of B2B marketing will focus on predictive analysis and intelligence, and have a major impact on lead scoring and content targeting.

The Transformation of Lead Scoring

Lead scoring is essentially a points system used to determine where your prospects are in the buying journey. The idea is to look at customers uniquely for a better understanding of what they looking for, what you can provide them with - and if they're likely to make a purchase.

Manually scoring leads, with this helpful guide, can be an excellent introduction to the strategy of fully comprehending customers. Assigning this responsibility to your B2B marketing team brings consistency, reliability and focus to a personalization approach.

Beyond manual lead scoring lies predictive lead scoring. This is a proactive way to accelerate the sales process by determining which customers are ideal based on past behaviors and purchasing history.

This takes into account other technologies, such as CRM or marketing automation, and demographic information to predict whom sales and marketing should be nurturing closely. Still done semi-manually, this method uses the insight from traditional lead scoring and blends it with modern ways of working.

In terms of the future of B2B marketing, predictive lead scoring using predictive intelligence is yet one step further. This is even more accurate than basic lead scoring, because of its correlation between patterns discovered in both a company's first-party data and general third-party trends.

It has also become the standard for most companies, especially technology-based businesses. A 2014 study revealed 90% of users agree predictive lead scoring provides more value than traditional approaches. The comprehensive nature of looking at customers holistically and integrating that insight into how you communicate with them can fast track your marketing efforts.

Given that artificial intelligence can predict the status of hundreds of prospects in a matter of minutes, marketers have everything to gain by using this technology.

A recent Gartner study concluded that predictive intelligence is a must-have for B2B marketing leaders. Just as marketing automation is being adopted widely within the marketing industry, predictive lead scoring is likely to follow.

The immediacy of reaching customers, understanding their needs and effectively determining their value to your company has created a necessary place for predictive intelligence in lead scoring.

The Power of Personalized Content Targeting

Predictive intelligence, an important component of predictive analytics, is also critical in learning which pieces of content to target to which customers. After predictive lead scoring reveals where each customer is and might be headed in the buying journey, you can glean insights from predictive analytics for establishing the tone, material and style of content each prospect will respond to most fervently.

An algorithm that determines the factors influencing a prospect can also pull the appropriate content. Just as you would send additional white papers to a manually-scored lead with interest in more in-depth material, this algorithm identifies the many customers to whom whitepapers would apply.

Sending the right content is just as important as creating it in the first place. Predictive analytics also leads to informed idea generation and content development.

Using predictive analytics in your content marketing takes careful consideration, but can be done successfully if you know the right data points to use and what to integrate into your existing strategy.

Seeing what content receives the most engagement and is most worthwhile to your prospects helps you tailor future content to those interests. Even with predictive analytics on your side to help you gain incredibly beneficial insights, it still takes a human to use the insight wisely and proactively.

Marketing professionals who work based on data, emotions and customer connections are the whole package in targeting content most effectively.

A.I. and the Future of B2B Marketing

Although artificial intelligence is not quite at the point of thinking, processing and completing tasks at the speed of a human brain, developments in the science of machine learning are getting closer to a complete takeover of this technology.

The existing uses of artificial intelligence within marketing is a good indication that the future of B2B marketing is bright - and that lead scoring and content targeting will be perfected as the technology matures.

With an already efficient system of analyzing data from thousands of sources to make sense of a single customer, predictive intelligence is making it possible for even small B2B companies to grow at rapid rates and expand their potential faster than traditional methods.

Companies With Supply Chain Management Problems

Emerging Technologies In Supply Chain Management

With the support of our professional business network, you get the opportunity to exchange experience and knowledge at a top professional level, and to strengthen and develop your own skills within your management and specialist areas.

Through business relationships and experience sharing in confidential settings for Chief Information Officer Downtown, we strive to create personal and business value for all our network peers.

How Much Does A Focus Group Cost

Brand positioning is an essential element of a winning branding strategy. Positioning simply refers to how your product or service is viewed in the minds of prospects and customers relative to other products or services available in your niche.

The term positioning has two connotations: a vertical and a horizontal one. In terms of the vertical connotation, the term refers to the order in which your product ranks relative to the products of your competitors in the minds of your customers in your industry niche. (For example, which product comes to mind first when I say the word cola?)

In terms of the horizontal connotation, the term refers to the qualities and attributes your product represents in the mind of your customers, again relative to your competitors.

While you cannot directly control the ranking that your product or service enjoys in the minds of your customers, you can influence how you position the product in terms of qualities and attributes. That is, by properly positioning your product relative to your competitors in the minds of your customers, you will have much more control over how your brand is perceived in the marketplace. You will then effectively have a guide or map for how to execute your branding strategy.

Brief Exercise:

Identify the key differentiators of your product. Ask yourself: why would customers buy from me? What makes my product different? What is the unique value it adds? Be sure to list at least 4-5 traits that set your product apart and make it unique.

Networking has always been considered a powerful tool for improving business prospects, advancing a career, and developing ideas. Other than some brief, structured events, networking has been mostly informal and inexpensive in comparison to cost they otherwise spend on different channels. But membership is growing in many formal, long-term networking groups, and so is the price tag.

Our groups are not groups for generating sales leads, nor are they places where individuals can drop-in to gain quick advice on an immediate challenge.  Members also sign a confidentiality agreement and benefits from the guided mentoring to help each other.

These groups include an experienced facilitator and use a structured discussion method to ensure appropriate participation.

IT Information Technology Executive Marketing Strategy

As a IT Information Technology Executive, its very critical for you to understand developing brand strategy is extremely critical. The most important asset your company has is its brand. Quite simply, it drives the direction of your business. So you should definitely have a well thought out brand strategy in place.

Increasing competition in business develops similar products with good quality from different manufacturers. But only an effective, innovative and Supply Chain & planning can make your business and products more popular.

For your profession as IT Information Technology Executive it becomes your responsibility to stay connected with like-minded supporting industry experts who can guide and help you deal with your day to day work issues.

Supply Chain Management Benefits And Challenges

Tops 7 Mistakes Executives Make When Digitizing The Business

If you are entrepreneurial in nature owning a business is very exciting adventure. It can also be the most difficult thing for you to get into if you are not prepared.

Supply Chain Management (SCM) as defined by Tom McGuffog is "Maximising added value and reducing total cost across the entire trading process through focusing on speed and certainty of response to the market." Due to globalization and ICT, SCM has become a tool for companies to compete effectively either at a local level or at a global scale. SCM has become a necessity especially for manufacturing industry when it comes to deliver products at a competitive cost and at a higher quality than their competitors. Here are some of the reason SCM has become important to today's manufacturing industry:-

Competitive Edge through Core Competencies

Today's business climate has rapidly changed and has become more competitive as ever in nature. Businesses now not only need to operate at a lower cost to compete, it must also develop its own core competencies to distinguish itself from competitors and stand out in the market. In creating the competitive edge, companies need to divert its resources to focus on what they do best and outsource the process and task that is not important to the overall objective of the company. SCM has allowed company to rethink their entire operation and restructure it so that they can focus on its core competencies and outsource processes that are not within the core competencies of the company. Due to the current competitive market, it is the only way for a company to survive. The strategy on applying SCM will not only impact their market positioning but also strategic decision on choosing the right partners, resources and manpower. By focusing on core competencies also will allow the company to create niches and specialization of core areas. As stated in the Blue Ocean Strategy outlined by Chan Kim, in order to create a niche for competitive advantage, companies must look at the big picture of the whole process, and figuring out which process can be reduce, eliminate, raise and create.

As an example stated by Chan Kim, the Japanese automotive industries capitalise on its resources to build small and efficient cars. The Japanese automotive industries gain competitive edge by utilising their supply chain to maximise their core competencies and position itself in a niche market. The strategy works and now Toyota Motor Corporation, a Japanese company, is considered to be the number one auto car maker in the world beating Ford and General Motors of the United States.

Value Advantage

SCM has allowed business nowadays to not just have productivity advantage alone but also on value advantage. As Martin Christopher in his book, Logistics and Supply Chain Management: Strategies for Reducing Cost and Improving Service' states, 'Productivity advantage gives a lower cost profile and the value advantage gives the product or offering a differential 'plus' over competitive offerings.' Through maximizing added value and also reduce the cost in the same time, more innovation can be added to the product and process. Mass manufacturing offers productivity advantage but through effective supply chain management, mass customization can be achieved. With mass customization, customers are given the value advantage through flexible manufacturing and customized adaptation. Product life cycles also can be improved through effective use of SCM. Value advantage also changes the norm of traditional offerings that is 'one-size-fits-all.' Through SCM, the more accepted offerings by the industry to the consumers would be a variety of products catered to different market segments and customers preferences.

As an example, the Toyota Production System practiced in Toyota, evaluates its supply chain and determines what is value added activities and what is not value added activities. Non added value activities are considered to be 'Muda' or waste and therefore must be eliminated. Such non added value activities are overproduction, waiting, unnecessary transport, over processing, excess inventory, unnecessary movement, defects and unused employee creativity. The steps taken to eliminate waste are through Kaizen, Kanban, Just-in-time and also push-pull production to meet actual customer's demands. The Toyota Production System revolutionise the Supply Chain Management towards becoming a leaner supply chain system that is more agile and flexible towards meeting the end users demands.

How To Make Your Company Machine Learning Ready

Strategy - Brand Identity Guru Tips On Strategic Planning

With the support of our professional business network, you get the opportunity to exchange experience and knowledge at a top professional level, and to strengthen and develop your own skills within your management and specialist areas.

Through business relationships and experience sharing in confidential settings for IT Information Technology Executive, we strive to create personal and business value for all our network peers.

Focus Group Interviews In Qualitative Research

One of the most misunderstood terms in technology is artificial intelligence. There have been several arguments of how this could result into a very disturbing concept for the human race. However, without knowing, the cognitive system is already in use and even appreciated by all who fear its effect. Some argue that it will cause several distortion especially unemployment. However, artificial intelligence are managed, maintained and even coded by humans. This is an employment means, instead of unemployment.

What this simply means is that artificial intelligence can help to improve human life and reduce stress. Here are the benefits of artificial intelligence.

Insight in Marketing and Business

Data is probably the most important raw material for the transformation of an economy to a digital economy. However, this raw data are hovering in the air untapped, unprocessed, and useless. It can be deployed for data mining, and processing of big data in a few minutes to provide information on business insights.

Fraud Detection

One of the movies that displayed to a high extent what Artificial Intelligence can really do is the 2012 BattleShip. Artificial intelligence can be deployed in the detection of fraud by data analysis of several fraudulent behaviors. The system can trace out links and possible direction, which a fraud is most likely to take through the application of artificial intelligence, which involves Data analysis of previous record deployed in a cognitive system to track, trace, and even be totally be aware of possible fraudulent action before they occur.

Speedy Input and Management of New Information

Over the years, companies are constantly seeking ways to manage date, speedily input them and also recover them when needed. This has go through different series of improvement from introduction of filing to several other storage methods. However, data can be imputed at a faster rate and also be fast in recovery, and arranging every single file accordingly without time wastage by the use of artificial intelligence.

Big Data Analysis

For every company, organization and even the government, decision-making is a very vital role to play. A single error could cost a lot or possible bring the organization to a ruin. There are possible millions of data that need to be analyzed to make sure that every single aspect have been viewed before decisions are taken. Big data analysis helps to extract, analyze and compress raw information to assist in decision-making.

Automated Systems

Since the evolution of the industrial sector, the improvement of technology has always recognized and work along side automated systems to improve works. Introductions of artificial intelligence in hotel bookings, tractors and factory machine are all speedily becoming automated with a lot of advantages as to minimizing waste, decreasing errors and improving production.

As business, begin to plan their improvement and growth; it has become paramount to introduce different measure that will assist in achieving this goal. Artificial intelligence has come to play that very pressing role that can transform the face of a business, a government and even an entire economy from just a regular way of getting things done to a more sophisticated means.

Networking has always been considered a powerful tool for improving business prospects, advancing a career, and developing ideas. Other than some brief, structured events, networking has been mostly informal and inexpensive in comparison to cost they otherwise spend on different channels. But membership is growing in many formal, long-term networking groups, and so is the price tag.

Our groups are not groups for generating sales leads, nor are they places where individuals can drop-in to gain quick advice on an immediate challenge.  Members also sign a confidentiality agreement and benefits from the guided mentoring to help each other.

These groups include an experienced facilitator and use a structured discussion method to ensure appropriate participation.