The basics of success in business remain as simple as you must supply a product or services that people need because it solves a problem for them and you must get it in front of them when they need it at a price they can afford. That encapsulates the basic premise of business economics in a quick, efficient summary.
With the recent pandemic forcing more companies to shift to an increasingly more remote work model, companies are discovering that they don’t know who their employees truly are yet or how their work should be done remotely. Make sure you’re online during business hours you’re told. Ok, so cover your um, bases, you think. Don’t let that green light in Skype or Microsoft Teams change to any other color but red. Red means you’re SUPER busy. Green means you’re busy – maybe, maybe not. Available? In theory, yes. But you could have trained the retired old lady next door to refresh that green light all afternoon while you snuck out for a round of golf.
According to the Harvard Business Review, 70% of employees are unable to select their own company’s strategy on a multiple choice quiz. As employee interests and company interests fail to combine, companies themselves become disconnected. Employee engagement is incredibly important to the health of a business. But how can it be improved?
Today, machine learning is becoming incredibly important for businesses hoping to remain competitive. From shipping and logistics to the medical industry, machine learning is being used to improve upon products and processes. Here’s what you need to know about integrating machine learning into your organization’s infrastructure.
When most people think of ML, they imagine a team of data scientists, high overhead costs for computer hardware and timelines that stretch into quarters or a year before seeing results. But today the market is filled with automation tools and cloud-based computing power. ML, AI, and Big Data are available more than ever. It is now easier for medium to large-size businesses to start using and applying these advancements in business intelligence technology to grow and improve their business.
By: Sharon Mattei
John Tardy is a principal consultant at Starr & Associates and leads the Business Intelligence and Data Analytics practice area. He has a BS in Electrical Engineering and an MS in Biomedical Engineering from Rutgers University and an MBA in Management of Technology from Georgia Tech. He has worked with start-ups and served in senior leadership roles with some of the most recognized brands in the country. He pairs a depth of technical expertise with business savvy to deliver practical and impactful solutions for his clients.
By: John Tardy
One of the things I enjoy about our work in analytics is the variety of business problems we solve. While the specifics of the problem vary, our overall objective is always to derive value from the data. Putting the client’s needs first means that we adjust our approach to best fit the situation rather than fixate on a specific tool or pre-selected solution. This variety makes the work exciting, but it also creates challenges in staffing the appropriate skills. Over the years, I have come to refer to our solution to this challenge with the phrase “Analytics is a team sport.”
Your business processes determine how efficiently your employees create the company’s services or products. They drive the milestones in your business plan, so you reach your goals. Periodically reviewing and revamping your business processes can result in cost savings and efficiency improvements.
Business forecasts only do so much. They cannot tell you the exact times of day you’ll likely serve the most customers. They merely let you know the average number of customers per day you’ll serve and an average of how frequently. A simulation, however, can replicate the real-world event in a computer model or, in some cases, a live-action role-play.