Blockchain technology has been a breakthrough technology that has had a huge impact on our lives. The average person doesn’t understand the significance of blockchain, but it is revolutionizing the financial sector.
If you are familiar with bitcoin, you probably realize that it was founded on the blockchain network. Blockchain has since been used in countless other applications, such as IP authentication and fraud prevention in the financial sector. However, it is still most important in the field of cryptocurrencies.
As the blockchain continues to evolve, it is bringing a number of other benefits for cryptocurrency investors. One of the biggest advantages of blockchain changes is that they have led to a number of new investing and storage options, such as cryptocurrency ATMs and cryptocurrency baskets.
Blockchain Has Made Cryptocurrency Baskets a Possibility
Cryptocurrency is both a subject of fascination and debate. For some individuals, it’s the currency of the future, pushing many people to invest in coins, tokens, and blockchain technology. Many developers have also started building tools for cryptocurrencies, such as trading platforms, digital wallets (an XMR wallet being only one of many examples), and data analytics tools. Others, however, are more skeptical about how profitable these digital coins really are, considering the highly volatile nature of the cryptocurrency market.
New investors in the cryptocurrency space often have a difficult time navigating the complicated processes underlying crypto. Blockchain has made a lot of these processes more convenient, but people still might have difficulty navigating them on the user end. Coupled with rapid daily market fluctuations, it’s easy to see why beginners often feel hesitant to invest in virtual currencies. Hence, many newcomers tend to look at cryptocurrency baskets first.
Investing in cryptocurrency baskets—or token baskets, as others call them—is often considered as the safer and easier way to get into crypto investments. Though it’s still a high-risk investment, crypto baskets can mitigate risks in various ways. To learn more about what crypto baskets are and what their potential investment value can be, continue reading below.
What Are Cryptocurrency Baskets?
A cryptocurrency basket can refer to a collection of digital assets—such as cryptocurrencies or tokens—that investors can buy and manage as a bundle. In this manner, investors can monitor their digital assets as a group rather than oversee them individually.
Cryptocurrency baskets are usually seen as an investment vehicle of choice for novice investors. But after gaining popularity in 2018, more diverse options have come to market, with some baskets catering to more experienced investors.
Various investment platforms form their baskets through smart contracts, which are programs in a blockchain that activate when certain conditions are met. Typically, each platform has its own set of guidelines and rubrics on what comprises a basket as well as notable metric points (such as volatility and developer activity) for an investor’s reference.
Reasons Why Blockchain-Based Cryptocurrency Baskets Are Popular
Whether you’re a novice or a veteran when it comes to traditional investments, crypto baskets may just be a more accessible way of entering the digital currency market. That being said, it’s understandable to have some reservations about putting your hard-earned money into any speculative investment. If you’re still unconvinced about their potential benefits, here are some reasons why crypto baskets that are managed through the blockchain could be worthwhile additions to any investment portfolio:
They Save Time and Money
The creation of crypto baskets, developers hope, will make investing in digital coins less daunting and easier for individuals who are just getting started in the world of cryptocurrency. By offering cryptocurrencies and tokens in bundles, the new investor can save time and effort as they won’t have to research each asset individually. As a result, the allocation process of building a crypto portfolio takes less effort to accomplish overall.
They Can Help Diversify Portfolios
Blockchain has been a saving grace for investors concerned about risk management. Risk management is a critical part of investing, whether it involves traditional stocks or digital assets. However, managing risks is especially important in a market where prices and values can swing exceedingly high or low at any given point. Hence, it’s standard practice for investors to not put all their eggs in one basket, so to speak.
Fortunately, this adage applies to crypto baskets differently. Each crypto basket holds multiple different assets much like how a traditional index fund is composed of various types of assets. Thus, by getting a crypto basket, investors can quickly acquire a horde of different cryptocurrencies and diversify their crypto portfolios within a single exchange.
They Can Mitigate Your Overall Risk
Cryptocurrency is notoriously volatile, and as such, is considered a risky venture for investors. As stated earlier, a diversified portfolio with crypto baskets can help mitigate these risks. Even if one asset in the basket experiences a dramatic price swing, it will have less impact on your portfolio over the long run. This translates to lower overall volatility, which is a significant consideration in a highly unpredictable market.
The Potential Downsides of Cryptocurrency Baskets
As useful as crypto baskets are, they do have some limitations that may make them less ideal for certain types of investors.
Firstly, some investors like to have full control of the assets they invest in. As such, cryptocurrency baskets—well-curated as they are—may not contain the specific assets they want. Thus, certain investors will prefer to research and purchase each type of coin themselves rather than getting a crypto basket.
Secondly, the returns of crypto baskets may not be as high as those that can be gained from investing in single digital assets. The reason for this lies in risk and volatility. The more volatile an asset is, the greater the chance of a higher return. Since crypto baskets offer lower volatility, they may generate lower returns as a result.
Should You Invest in Cryptocurrency Baskets Supported by Blockchain?
Investing in cryptocurrency is like riding a rollercoaster. It has extreme ups and downs, which both attract and repel investors from participating in the market. Fortunately, developments in blockchain have helped mitigate some of these issues by providing stability and offering more convenient solutions to end users.
From an investment standpoint, crypto baskets are exceedingly helpful since they’re easier to monitor and can significantly diversify an investor’s portfolio. They may also be a more stable investment to make due to their integration with blockchain, which counts for a lot, given the constantly fluctuating metrics in the crypto industry.
Nevertheless, like any other coin in the cryptocurrency market, crypto baskets also come with their unique sets of risks and limitations. Whether they’re worth investing in or not highly depends on the investor’s mindset and preferred strategies. All things considered, however, crypto baskets are a great place to start for new investors or for those who prefer investing in something a little less risky.
If you have not lived under a rock for several years, you have undoubtedly heard about artificial intelligence (AI). However, how might artificial intelligence be used in e-commerce operations?
Artificial intelligence (AI) is starting to fill every facet of our daily lives. For example, self-checkout cash registers, airport security checks, and other automated processes all use artificial intelligence to some degree.
E-commerce companies are already utilizing AI to understand their consumers better, develop new revenue, and improve customer service to their current clients.
How Will AI Influence E-commerce?
E-commerce has gotten more overcrowded and competitive due to the present state of the Internet. Thus, to be successful, a company must be quicker and smarter than its competitors. For example, consider the task of creating a website.
This kind of information on customers and site visitors is all around us, being gathered all the time. Suppose if we could gather, organize, analyze, and use this data in a better way? That is where artificial intelligence (AI) comes in, and it is revolutionizing Internet marketing services.
So let us see how artificial intelligence can help you in developing more effective SEO strategies for e-commerce.
Improved Search Results
Customers are increasingly locating items using search engines and marketplace searches. Organic Google searches generate over 40 percent of e-commerce traffic. As a result, SEO is critical to an e-commerce store’s success.
SEO-based artificial intelligence systems are capable of the following:
Conducting site performance analysisAssisting with keyword researchImproving the quality of your materialMaking appropriate tag recommendationsAssisting advertisers in determining the optimal time to post content
A user-friendly website that includes pertinent keywords, meta descriptions, and tags can go a long way toward attracting prospective consumers.
AI solutions can assist marketers in increasing site traffic and organizing information in a manner that encourages purchasers to flow fluidly across your e-commerce business.
SEO-based artificial intelligence solutions can help you eliminate some guesswork associated with picking the correct keywords, producing the greatest content, and determining how to enhance your SEO.
Voice Search
With the emergence of gadgets such as Alexa, Echo, Siri-enabled Apple devices, and Google Home, shoppers can now search for things using just their voices.
As a consequence, companies must guarantee that their items are discoverable through voice search.
Businesses must begin optimizing their web pages for audible search. For instance, many companies can now use machine learning by enabling consumers to buy on their websites using Alexa.
Customers want more ease in their e-commerce buying experience. Voice search enables users to do product searches without needing a laptop or phone, streamlining the shopping experience.
Along with voice search, marketers should begin planning for visual search, as an increasing number of buyers browse for things through visuals.
Certain businesses develop applications that enable users to photograph an item and search for it on their marketplace. Without the assistance of artificial intelligence and machine learning, these procedures would be impossible.
Targeting Specific Customers
When it comes to appealing to prospective consumers, AI eliminates the guesswork. Rather than developing a one-size-fits-all advertisement, businesses can now build customized advertising for particular purchasers based on their online activity.
AI techniques have resulted in more successful retargeting methods. Now, social media networks such as Facebook simplify companies to retarget their advertisements to locations where their clients congregate online.
Additionally, AI systems are getting more adept at deciphering client behavior and purpose.
This new age of robust AI systems is capable of acquiring even more sophisticated data about clients. It can, however, develop algorithms that make it simpler to reach targeted audiences.
Decrease Cart Abandonment
Follow-up emails to abandoned carts have an average open rate of 45 percent. This figure is almost certainly connected to email marketing automation.
An abandoned cart is one of the most obvious indicators that a consumer experienced a technical issue or had an unpleasant experience before purchasing. They were only a few clicks away from making a transaction and converting from lead to customer.
Understanding why your clients are not completing a deal enables you to address the issue and streamline and simplify the purchase process.
Additionally, marketers can utilize AI techniques to segment clients based on their online activity and degree of interest in specific items.
These solutions can assist marketers in determining which leads are likely to convert and which can leave their carts using machine learning.
Marketers can utilize this data to select the most effective content to deliver to target consumers.
Retain Customers Through Follow-Ups
Astute marketers recognize the value of follow-up. However, when marketers are dealing with thousands of clients at different phases of the purchasing process, it can be challenging to get the timing of a follow-up approach right.
It can cost five times as much to gain new clients as it does to retain existing ones.
Customer retention is critical to the long-term prosperity of a business. Today’s marketing automation and artificial intelligence solutions make this much simpler to do.
Fortunately, these AI technologies eliminate the guesswork associated with developing a digital marketing plan for each buyer journey stage, particularly for repeat consumers.
Personalized Purchases
In e-commerce, artificial intelligence enables tailored and interactive purchasing experiences. Businesses can monitor their consumers’ preferences in real-time and give them trustworthy and customized purchasing experiences using AI-enabled technologies.
AI can provide appropriate product recommendations based on the user’s preferences. In addition, AI can significantly understand consumer behavior through customization and analysis of clicks, shopping carts, purchase history, and search queries.
All of these factors can assist e-commerce firms in making appropriate recommendations for subsequent purchases that make sense to the consumer.
Chatbots
Have you ever used the “chat now” button when online shopping? When you were communicating with someone online, chances are you were conversing with a bot meant to assist you with any queries you may have. And, to be honest, it is becoming impossible to notice the difference!
The introduction of new chatbots enhances the talking experience by making it more customized, branded, and intelligent.
Now e-commerce businesses can provide visitors with 24/7 customer assistance, instantly gather valuable data, analyze visitor behavior, and achieve seamless brand continuity. This is due to the improvement of AI’s learning and development capabilities.
With a successful automated chatbot, e-commerce sites and merchants can increase conversion rates by personalizing the online experience for the user without any additional costs.
Conclusion
AI enables e-commerce firms to evaluate millions of interactions every day and eventually personalize offers for each client. That is the experience that every marketer aspires to provide.
In the future, artificial intelligence is projected to have a massive and positive influence on the e-commerce business. It will alter and, in some ways, enhance the way customers search for things online.
Data analytics is becoming a crucial element of many business strategies. They have found that data analytics is a valuable component of marketing campaigns, financial planning objectives, human resource guidelines and much more.
We have talked extensively about the types of industries that have been positively impacted by data analytics. Insurance, investing, logistics and digital marketing are among some of the professions most affected by big data. However, other professions, such as musicians, are also relying more data analytics technology than ever.
Data Analytics is Helping Many Spotify Musicians Improve Their Reach
Data analytics is playing a very important role in marketing for every industry. Spotify musicians weren’t the first to take advantage of analytics as a marketing outreach tool, but they have since discovered the benefits. Spotify itself has even taken advantage of big data with tools like Google Optimize 360. This analytics driven solution by Google actually helped Spotify increase premium subscriptions by 23%.
The benefits of data analytics are most obvious to people using Spotify Premium. You will need to learn a little bit more about the two Spotify subscriptions in order to understand it.
There are two types of Spotify listeners – premium users, and the ones who don’t want to pay. And if you are a Spotify musician, you are probably wondering if is there any difference at all for you. Well, it may not seem obvious, but there is. If you have been considering promoting your music, you should definitely look into Spotify premium promotion. So, let’s dive into it.
So, free users make up the majority of Spotify audience, and the reason for that is simple and obvious – it is free to use this service. But those users are going to have to face some inconveniences, like inability to skip a track. The list of such small things can go on and on, and can really make life difficult, but people are stubborn.
As I said, there are also users who pay for Spotify, for a subscription. The price is small, and all the inconveniences disappear with it. And these premium users take a smaller portion of all Spotify users. So, what do you think, which plays are more valuable?
I know that you want to say “both”, but it won’t be truth. Activity from premium users is the most valuable, so if you really want to kick things off, you have to aim at premium listeners. Not every promotion service can do that, neither can an average musician promote his tracks solemnly among premium users.
Maybe you are not a fan of music promotion, but it has become the only way to succeed on Spotify right now. Musicians from all over the world join Spotify every day, and the overall audience is now exceeding 350 million people. And it becomes harder and harder to stand out among all of those musicians that are a part of those millions. You need something bold, something loud, but at the same time very precise. So, what can be better than some targeted promotion? Fortunately, data analytics has made this possible.
You can use some very effective advertising platforms to reach new customers through AI targeting. You will be able to identify the demographics of your listeners and make sure that they are the ones that hear your songs.
Facebook Ads have some very nuanced targeting capabilities that involve AI. These AI and data-driven advertising options can allow you to reach people that are subscribed to similar musical pages on Facebook and match the demographics of your target audience. You can also use remarketing on Facebook, which is made possible with sophisticated AI algorithms.
Yes, promotion may seem not fair to other musicians, but if you had ever known the number of musicians that are doing that, and especially the percentage of already popular creators, you would never think about it in that way. The majority of stars are promoting their music, so there is no reason why you shouldn’t equalize yourself with them in your abilities. You have to have equal ability to popularize your music, and if you don’t have that, what’s the point?
In addition to taking advantage of AI and data-driven advertising, you will want to look at analytics reports to see how your subscriber base changes over time. You can use this data to figure out what marketing tactics are paying off the most.
One last word about premium users. They are so important because they have choice, they can choose what to listen to and when to stop. So their activity is the only real representation of an audience. And the algorithm knows that. Maybe you can’t check the number of interactions with premium users in your statistics page, but these numbers do exist. And if you really want the algorithm to see you, you have to increase your “premium” numbers.
Big Data is Crucial for Spotify Musicians
Spotify musicians are relying more heavily on big data to promote their music than ever. You will want to make sure that you understand the benefits of using it in order to grow your subscriber base.
The market for financial analytics services is expected to be worth $14 billion by 2026. However, large financial organizations aren’t the only ones relying on big data technology. Individual consumers are also using data to better meet their own financial goals.
Data Analytics Should Guide Your Investing Decisions
Whether you’re hoping to retire comfortably, send your child to college one day, or buy yourself something nice, investing is the way to go.
For many Americans, a savings account won’t cut it. You need to make smart investments to secure your financial future. But if you don’t know how to invest in stocks or are unsure of investing strategies, how will you make money?
If you want to learn how to beat the stock market, your first step is learning the basics of investing. Once you understand the basics, you can determine what kind of approach makes sense for you. Some investors like a hands-on approach that allows them to make moves whenever they see opportunities. Other investors prefer a passive approach, allowing a third party to make moves on their behalf.
Regardless of your approach to investing, analytics technology can help immensely. You will want to use data to drive your decisions. You will have a higher chance of improving your ROI, while also being able to meet your investing goals more easily.
If you are buying your own stocks, then you can use predictive analytics and other data-driven investing methods. You will be able to forecast the direction of stock prices, so you can make better long-term buying decisions.
If you are relying on a mutual fund or other institution to handle your investing, then you will want to look at their long-term performance. There are a lot of sites that provide historic data on their rates of returns. You will want to look at this data carefully.
Find out which kind of investor you are and start building your portfolio. Then you will need to know how to incorporate big data into your investing strategy.
Understand Your Options Before Developing Your Data-Driven Investing Strategy
There is no doubt that big data can be invaluable for investors. However, you have to know what approach you would like to take as an investor before you can use data.
Pros of Investing in Stocks
Limitless Potential
Imagine making a small $15 investment in a start-up that eventually reaches $150.This isn’t some fictional tale—it’s the reality of the stock market.The stocks you buy have limitless potential.It’s not unusual to see a great return on investments, especially in the small-cap market.
Relatively Liquid
Compared to other investments, such as buying a home, it’s much easier to access the cash value of stocks.
Property sales and similar investments can take months, where stocks can be bought and sold in a matter of seconds.
This level of liquidity makes stock investing both convenient and practical in the fast-paced world we live in today.
Flexibility
There are so many investment avenues to choose from.Want to help save the environment? There are stocks for that.Simply want to build long-term wealth? There are stocks for that.Passionate about a good cause? There are stocks for that as well.Whatever your reasons for investing, there’s likely a niche of the market to profit from.
Fight Off Inflation
The word inflation is enough to send some investors into a frenzy, and for good reason.Inflation causes price fluctuations and sets the stage for economic instability.But the right investments in the stock market can help you weather the storm.According to Goldman Sachs, over the past decade, stocks have had an average return of 9.2%.The average inflation rate is 3.22%, which would mean investors saw a 5.98% return on average.
Cons of Investing in Stocks
Volatility
One of the most treacherous parts of investing in stocks is accounting for volatility.
Some markets, like the copper mining industry, frequently experience significant price swings.
Just in the past year alone, copper reached all-time highs after hitting lows at the beginning of the pandemic.
Surely there were investors who sold their stake in mining companies when the pandemic first began out of fears of prolonged shutdowns.
Yet it didn’t take long for the sector to recover and reward those who stayed on.
If you want to avoid making the wrong move when stocks go through price fluctuations, get advice from a reputable source.
Crashes
No investor should enter the market without knowledge of past market crashes.
In the past 20 years, we’ve experienced major crashes that devastated investors and non-investors alike.
But one of the biggest mistakes investors make when a crash is imminent or happening is selling too early.
Historically, holding your investment during a crash has paid off in the long run.
It can be difficult knowing what to do when you feel like you need to make a move NOW.
But a smart advisor will keep you informed about your options and help see you through them.
No Guarantees
As in life, there are no guarantees in the stock market.
Just because you make a $1,000 investment doesn’t mean you’ll see a massive return.
Really, there’s no guarantee you’ll get a return at all.
That’s why it’s important to get your stock advice and insight from a reliable source.
The right advisor will help you place smart investments that are more likely to get you a good return.
Expensive Fees
Buying and selling in the stock market aren’t free.
Many investors use a broker to complete their stock transactions.
Some brokers are more reasonable with the fees they charge while others can really drain your money.
Always do your research into a brokerage before going with them.
Using Data Analytics to Identify the Best Stocks To Invest In
Data analytics is also very important if you want to improve your investing strategy. You can use historic data on various stocks or classes of stocks. This can make it easier to identify the best investing opportunities. FXCM Markets and Quantpedia are among the data-driven platforms that help with this.
When you’re just starting out as an investor, you’re looking for a sure-fire way to be successful.
There’s plenty of stocks that can nearly guarantee you’ll see a return, but that’s not always the goal.
Let’s say you invest in a giant like Apple. Sure, you’d see a return on your investment—but relative to the price of the stock you bought, it may not be much. You might also look at historic price data and realize it might not be the best deal.
That’s because it’s harder for giant companies to grow at an incredible rate.
However, let’s say you invest in a small-cap company or even a micro-cap.
The chances of a start-up doubling its market cap are much more likely than a well-established stock.
The small-cap and micro-cap markets are full of potential for massive returns.
But they also have the potential to fail and are less likely to recover from market downswings compared to well-established companies.
This makes researching which small-cap companies imperative.
Luckily, you don’t have to do your research alone. There are stock market advisors who advocate investing in the small-cap market. Click Here to learn more about why 2021 could be the year of Small market.
Learn How to Invest Like a Pro by Using Data Analytics
Data analytics is very useful for investors that want to improve their long-term ROI and meet their investing goals. This is good news, because there are a lot of complexities when it comes to investing in the market. The stock market isn’t easy to navigate on your own. It’s impractical for a beginner to beat the stock market right away, but it’s not impossible to learn. There are plenty of ways to make money on the stock market and Dear Retail is here to keep you informed.
Whether it’s alerting you to the next big gold or copper stock or showing you new strategies, Dear Retail wants to help you become a smarter investor. When you’re ready to start investing like a pro, join our community and become a Dear Retail investor.
Unfortunately, big data can be mysterious for many companies. Only 13% of companies with data strategies are meeting the objectives outlined in them. They need to know how to use it effectively to get the most value out of it. This is where big data consultants can become very helpful.
Big Data Consultants Can Make All the Difference for Many Companies
Managing a new business can be as daunting as it is exciting. For that reason, many people choose to run their own companies, tapping into a mixture of expertise and passion to run their own firm. However, when starting up a new business, you must consider using data analysis. Today, there is huge value in having a data-driven expertise. For example, getting assistance in data consulting from experts like this can be a driving force behind long-term business success.
Why, though? Why is data consulting so useful for a new business?
Get insights your competitors lacked
When you start a new business, mistakes can be common as you try and feel your way into the industry. However, competitors likely started with any data pushing them in the right direction. By investing in a data consulting expert, you can find uncover some very important insights within that data which stops you making those early business mistakes.
Your competitors are already involved
Yet, while your competition might not have used data from day one (as you can and should), they will be using it now. So, starting a business without getting insights from a data consultation is a poor idea. It means that you are already behind the kind of insights and ideas that your competition has in mind, making it that bit harder to succeed and thrive.
You need data consultation because without it you are already playing catch-up.
Pinpoint your perfect audience
Any business needs to have an idea of who they are speaking to; without an incredible marketing budget, you cannot afford to try and speak to every potentially interested party. Instead, your company needs to have a clear audience – a target individual you focus on.
Trying to work out who that is, though, can be tough. With data consultation, though, it is easier to pinpoint who your business should be appealing to, assisting your marketing message.
Make your online presence stronger
Another common reason for data analytics is that it can help improve your website development process. Data-driven web design processes can actually help create high-quality custom websites. Every new business needs a website, and making sure it is developed with the correct tags and the correct analytics in place is vital. A data consultancy firm can help perform the analysis that you need so that you can have a very clear understanding who you are talking to. This also refines your online presence so it more naturally speaks to the target audience mentioned above.
Spot performance trends and issues
When your business is run through the lens of looking at profit and profit alone, problems can begin to form. You miss out on the little trends and opportunities that could, in the right hands, take your business to a whole new level of quality.
By using data consulting and analytics, though, you become far more likely to spot these little hidden trends squirreled away within the data.
Running a business is tough; starting a new business is tougher still. By implementing the right practices from day one, though, you can begin to adjust your business correctly. The first days of a new company are never easy; this, though, makes those early days more positive, productive and improves your chance of hitting the ground running. Do not sleep on the use of data analytics – it can be a game-changer, even for a fledgling firm.
It’s safe to say that IoT devices have made our lives much easier and more convenient. This new technology has changed the way people conduct their work in the office, but also how they use gadgets at home. The fact that all smart devices in the office or at home can be connected makes life much easier. However, this also exposes those devices to cyber and hacker attacks. This is exactly why today we are going to talk about the simple ways you can protect IoT devices from cyber-attacks. Here’s what you have to do.
The Famous IoT Attacks You Should Know About
A lot of people have doubts about the IoT hacker attacks. In fact, they don’t believe in them. However, those attacks are not a conspiracy theory, they’ve actually happened and you have to know how to protect yourself from them. Here are a few examples of famous IoT hacker attacks you should know about.
The Mirai Crackdown on Dyn – happened in 2016 and hackers violated a reputable Domain Name Service provider’s computer network called Dyn. Back in the day, Dyn was the DNS provider for companies like Twitter, Netflix, Reddit, CNN, and The Guardian.Thermo-access to a casino – this was an IoT hack attack committed by a group of hackers who found a security loophole in the form of a thermometer installed in the casino’s aquarium. Once they hacked into the casino’s network, the hackers were able to get the casino’s sensitive data.
The IoT attacks are real and here are a few ways you can protect your gadgets.
Make Sure to Change Default Router Settings
When you get a new router, the manufacturer sets the name of the router and the default password. This is meant to be a temporary solution until you find a new name and a password for your new gadget. However, a lot of people forget to change the default settings or choose to keep them. This is not recommended because hackers can easily crack those credentials.
If you want to improve the security of your office or home router, make sure to change the settings. Choose something that makes sense to you, but make sure that is not associated with you. This will make a hacker’s life miserable if he decides to crack the password and put the malware in your IoT devices.
The thing you need to know is this – the network and Wi-Fi are the first defense against hackers. This is simply because many IoT devices are connected to Wi-Fi. Therefore, to protect your IoT devices, it’s recommended that you change default privacy and security settings.
Use Two-Factor Authentication
If you are using IoT devices in the office or at home, there’s a strong possibility that a hacker might try to crack your protection and steal your sensitive and personal information. In order to prevent this, you should use two-factor authentication for all of your accounts where you keep your personal or financial information. This way, even if the hacker manages to crack your password, they won’t be able to get the information because they will need a secret code to log in. This code will be sent to you via SMS. Therefore, if the hacker doesn’t have your phone, they simply can’t log into your accounts. This is one of the simplest ways to protect your IoT gadgets.
Disconnect The IoT Devices When You’re Not Using Them
Most of today’s gadgets have the ability to connect to the internet. This means you can connect your TV and your refrigerator. However, not all of those devices need to be connected to the internet in order to work properly. Having a lot of gadgets connected to the network every single day will provide hackers with more opportunities and more time to crack your protection. This is exactly why you should disconnect the devices that you are not using.
Use Strong Wi-Fi Encryption
As we already said, the home or office router is the gateway between IoT devices you own and the internet. If the router is not secure, your IoT devices and your personal information are exposed to hacker attacks.
Earlier in the post, we stated that you should change the default username and password and set the ones you think are secure. However, this might not be enough to protect you from cyber-attacks. If you want to be better secured, you should also use the strongest encryption on your router. On most routers, this is the WPA2 option. In case your router doesn’t have this encryption, make sure to get the one that does.
Have A Different Password for Every IoT Device?
If a hacker manages to crack your router protection, they might be able to hack every single one of your IoT devices and steal your sensitive and personal information. However, if you want to make their job more complicated, you should definitely have a different password for every IoT device you are using. If you use strong passwords and two-factor authentication, the hacker won’t be able to hack into your accounts. In other words, the fact that they managed to crack your router protection won’t mean a thing. Still, you should try your best to protect your router and if you notice any kind of suspicious behavior, make sure to change the username and password on your router.
Conclusion
The IoT devices have changed our lives for the better and made things much more convenient for us. It doesn’t matter if you use IoT gadgets in the office or at home, you know how many benefits they offer. However, if you want to protect those devices from cyber-attacks, you have to do the things we mentioned today. Change the default settings on your router, use two-factor authentication, disconnect the IoT devices when you’re not using them, use strong Wi-Fi encryption, and have different passwords for your IoT devices. If you do this, you won’t have to worry about hackers.
As a small business owner, you might think that data reporting and analytics don’t matter in your organization. You could be mistaken for thinking there’s too little data to report and analyze and that you can’t possibly have access to the powerful analytics tools that large businesses have.
However, if you’re a small business owner looking to scale and grow, smart technology can revolutionize the way you view and understand your business. There are specialist management apps for every business niche, and utilizing them is the first step to scaling your operations and being able to acquire new business. For example, field service companies such as those engaged in landscaping, will be interested in software programs that can give insight into how they can schedule more visits and appointments per day and report on payments and invoicing. If you run a landscaping company, apps like this one from Jobber will do exactly this, and in doing so, actively help you run and grow your business.
What Are Reporting and Analytics Tools
Reporting and analytics tools help businesses track performance data so they can make decisions that will positively impact their company’s growth. This could be, for example, tracking the number of visitors on your website or looking at how much revenue you can collect from an advertising platform.
Reporting tools come in different forms. They can be the usual spreadsheets and dashboards that provide company data, or they can come in complex forms that take advanced programming knowledge and skills to build.
On the other hand, analytics tools go beyond reporting. These tools look at the relationship among data and provide historical, current, and predictive views of your business’ performance. Analytics usually come with reporting because interpretation and insight generation won’t be possible without any data.
Both tools are innovative, and they can give you insights that are hard to achieve with personal observations or gut feelings. All of this information can prove valuable to your business’s growth journey.
Here are other ways that reporting and analytics tools can benefit your small business.
1. It helps influence business owners to make better decisions
Combining what these two can offer, many businesses can utilize them to identify root problems and provide strategies to get them solved. They can also show which aspect of your business is doing well, so you can continue these practices. By using information gathered by your reports and analytics tools, you’ll be able to make better informed decisions based on actual data instead of guesswork. You may even utilize this information to come up with other strategies to help your business grow.
2. It will help save time and resources
Analytical tools with reports can help make business strategies more targeted, and thereby, more efficient. This will also help to save time and resources that you’ll likely waste creating reports from scratch and conducting longer meetings.
Also, using big data in marketing and other promotional campaigns have a more stable foundation, and therefore higher chances of success. It’s because you don’t have to rely on assumptions that may or may not be right. With data-driven decisions, your business can eliminate the hit-and-miss strategy that some companies employ. Analytical information can also help companies feel confident about venturing into locations or systems previously unknown or unused without losing much budget.
3. It can facilitate productive communication
Once you have learned what all your data means, ensure to communicate this to all relevant stakeholders to better guide strategic decision making.
4. It can enhance business efficiency
Entrepreneurs know a few truths about small businesses—the need to multitask due to a limited number of employees and at most times, tight budgets. Some are even run by solo entrepreneurs burning the midnight oil to make sure that all aspects of their businesses are covered. (1)
This is why reporting and analytics tools are more critical for small businesses. These tools offer automation for otherwise time-consuming tasks and can also help employees and business owners focus on what matters most. Since information is readily available for their evaluation, they know which areas need more improvement and the tactics that are working and worth keeping as a result.
5. It can contribute to better customer satisfaction
As mentioned earlier, analytics can provide prediction and interpretation, which can help you solve a problem even before customers encounter them. By making business and analytics tools a part of your business strategy, you can improve customer service. In return, this increases the likelihood that customers are satisfied, increasing their brand loyalty. With brand loyalty, you can ensure that your customers will consistently buy from you as statistics show that 60-70% of purchases come from existing customers. (2)
Another benefit of these tools in building customer satisfaction is their ability to improve personalization, which helps in customer engagement and loyalty. Analyzed data from previous transactions can help companies develop products and suggestions catered to the needs of a specific customer. This can make clients feel that their needs are understood. (3)
Conclusion
Reports and analytics tools can help your organization improve its decision-making process and communication capabilities. In addition, they can also help you provide better customer satisfaction and improve your company’s efficiency. All these benefits can eventually lead to your business becoming more efficient and being able to scale operations which is an essential requirement if your company is to experience success and growth.
It is believed that the retail sector will irreversibly decline in the future. This is primarily due to the growing popularity of e-commerce. In the U.K., 85,000 jobs disappeared from the retail sector in the first quarter of 2018, and about 30,000 retailers reported financial difficulties.
Despite the partly negative overall picture, global retailer revenue continues to grow, up 4.1% from prior periods as of 2018. And even with the growing pace of e-commerce, many sales are still made in conventional stores. What role does artificial intelligence play in this, and how does artificial intelligence affect the speed of retail evolution?
Expanding access to AI is not a global problem, but its use in retail is most often hampered by regulatory issues of the system itself, their technical side. Experts dispel the current fear of whether retailing could disappear altogether. People will always want to buy something, which means retailers will never be out of work.
At this point, the proliferation of online shopping has not yet reached a large scale, which is not a cause for concern. It is known that 85% of sales are still made in conventional stores. This is due to the fact that customers prefer to examine and touch the thing they want to buy. And many customers just like the feeling of walking through a store.
Another big disadvantage of e-commerce is that not all customers these days know how to buy online, and so to meet their needs, many online stores open traditional stores.
Production
Once trained in the expected quality of products, artificial intelligence will be able to do the customization, distribution and workflow management at factories. This will of course ensure a higher product quality.
There will also be less rejected products and packaging. Everything will be done based on a repeatable algorithm. Artificial intelligence can accurately calculate and specify the levels of raw materials and products needed for production. And all of this can be done in a fraction of a second, without stopping other processes in production. AI can also deal with testing and identifying defective products.
Automation
Today, property taxes and the cost of living are going up, which means that retail business owners are spending more and more money each year to pay each employee. And the introduction of artificial intelligence in the company can help solve these problems by reducing unnecessary employees. This approach would allow for more efficient staffing management, automated warehouses, and the involvement of chatbots. If we don’t take the existing traditional business online, the outlook for the next five years will not be bright. There are, of course, downsides to digitalization, such as the need to rebuild infrastructure around new data. Some retailers use outdated accounting systems, or different systems in each store in the chain. The main challenge in such a case is to collect data in a single repository.
The Future of Artificial Intelligence
Many companies refuse to implement AI because quick and big profits are important for business, and Artificial Intelligence is a long-term project that will bring a lot of profit in the future, but to begin with you need to consider the cost of IT specialists, maintenance and upgrades because it needs to consider the cost of maintaining AI.
Accurate demand forecasts
AI is a very powerful advantage of your business over competitors because demand forecasts created by machine learning are more accurate and cheaper. It is they help to understand what products are more attractive to the customer and save on ordering certain products.
Conclusion
The future of retailing is closely connected with the introduction of artificial intelligence. Experts also say that in the near future we can expect smart dressing rooms and virtual shelves displaying products that people can buy, taking into account their shopping history.
Artificial intelligence technology is shaking up the way companies operate. More companies than ever are finding clever ways to utilize AI technology to streamline their operations, boost their ROIs and solve common challenges that are facing their industries.
One of the best ways to use AI technology to benefit your business is by creating great mobile apps. Countless companies are finding ways to optimize their mobile business strategy with AI. This is best implemented when you use AI to create a great app that can help your customers interact with your brand.
Benefits of Using AI Technology to Create the Perfect App for Your Business
AI technology can help you create an amazing app that will help serve the customers of your business. Here are six huge benefits of creating a wonderful app that has been developed with AI technology.
1. Increase Your Business’s Visibility
According to statistics, most American adults spend almost 4 hours on their mobile devices. Therefore, most of these people use applications on their mobile devices.
People have to unlock and scroll their mobile devices to find the apps they want to open. If they have your business app, they are more likely to see your app as they scroll their mobile device. They might never forget your company’s logo.
You will have an easier time maintaining visibility if you make sure that your app is as engaging as possible. AI technology can help make your app more interesting and even personalize content to keep people using it as much as possible.
Apps that rely on AI technology can also be excellent for marketing. They are able to understand the unique needs and interests of your customers and make sure that marketing messages are customized to their tastes.
You can use apps for different purposes, including providing news feeds, search features, prices, general info, booking forms, messengers, user accounts, and many more.
You can, therefore, use a mobile app that relies on AI technology to provide different information to your customers. In addition, you can use your app to market your business. For instance, you can provide special sales and promotions on your app.
You can even use push notifications to directly interact with your customers. So, use your app to remind your customers about your services and products.
3. Provide More Value
If you have a loyalty program, you can digitalize it. Want to reward your local customers? Do not just send them cards. Your customers can collect rewards through your mobile app.
If your customers can get their rewards immediately, they are more likely to remain loyal to your business. They can get their rewards on their mobile devices.
You can use AI algorithms to make sure that rewards are properly delivered to customers as they need.
4. Build Your Brand
You can use a mobile app to build your brand. It is cheap to use a mobile app to build a brand. You do not have to spend a lot of money on advertising.
Here is how mobile apps can help you build your brand:
Brand – You are free to design your mobile app the way you want. So, you can make your mobile app informative, bold, functional, hip, or stylish. In addition to creating a beautiful mobile app, you need to add the best features to your mobile app. If your customers love the features, they are more likely to remain loyal to your brand.
Recognition – If potential customers can use your mobile app regularly, they are more likely to purchase your products or services. This is known as “effective frequency” in advertising. In summary, if someone hears and/or sees a brand around 20 times, they can truly notice the brand.
5. Improving Customer Engagement
It is crucial to make it easy for potential customers to reach you. It doesn’t even matter if you sell spa services or flowers. If your customers can contact you from your mobile app, they are more likely to trust you. If they trust you, they can buy your products and services. Speak to your mobile app developer about what you require from your business app.
The good news is that AI technology can be immensely helpful with boosting engagement. For example, OpenTable used this principle to build its business model. Customers do not have to call the restaurant to book a table. They can just use their mobile app to book a table.
Many small businesses do not use mobile apps, so you can use mobile apps to beat your competitors and be smarter. If you are the first one to create a mobile app for potential customers, you can beat your competitors. In fact, you are more likely to impress your customers.
We have frequently talked about the merits of using big data for B2C businesses. One of the reasons that we focus on these sectors is that there is so much data on consumers, which makes it easier to create a solid business model with big data.
However, data analytics technology can be just as useful with regards to creating a successful B2B business. Business-to-business companies need to understand their customers and market to them just as effectively .
One of the benefits of data analytics in B2B marketing is with using digital signage. Digital signage has always been effective for improving marketing, but it can be even more useful when used in conjunction with data analytics tools.
Data Analytics Helps Companies Create More Effective Digital Signage Marketing Strategies
For B2B companies, digital signage may not be the first thing that comes to mind when developing a marketing strategy. However, many businesses in this sector can benefit from this form of marketing, which has been steadily growing in popularity. Businesses spent almost $21.5 billion on digital signage in 2020 alone. It can be even more useful if you use it with big data.
The first step to getting started with digital signage is to develop your content strategy. Data analytics technology can help immensely at this and all subsequent stages.
Set Goals and Develop a Strategy with Data Mining
For digital signage to be successful, you must set goals and develop a strategy. This is one of the most important ways that big data can help. What is the purpose of your signage?
Do you want to improve corporate communicationAre you looking to show business intelligence tools?Do you want to internal market your brand?Do you want to advertise products and services?Are you looking to provide wayfinding?
For most B2B companies, the primary purpose of digital signage will be to attract new customers and engage your own employees. Whatever your goals may be, make sure that you write them down so that you have a way to measure your progress.
You may not need to use data mining to outline your goals, but you will probably need this technology to conceptualize them. You can use data mining technology to learn more about the challenges and obstacles that you will encounter, which is going to be important for the next steps.
Placement and content will be two vital things to consider when investing in digital signage. For example, shopping malls may not be the best location for B2B digital signage, but metro stations and convention centers may be a good fit.
Data mining technology can help you learn more about the different places your digital signage can be used. You can learn more about the foot traffic, regional demographics and other relevant factors about various venues, so you can use it appropriately.
As part of your strategy development, you’ll need to better understand your target customers and their behavior. Demographic data can be especially useful in this regard. Your message needs to be seen by decision-makers, and getting to know them will help you find the best place to install your signs.
So, in order to make your digital signage strategy a reality, here are the steps you should follow:
Leverage Digital Tools and Machine Learning to Create Engaging Content
In order to bring in new customers or achieve your goals, your digital signs must display content that will appeal to your target audience. This is one of the ways that big data technology can help.
First, it’s crucial to find digital signage networks that will allow you to display your content the way you envision. The right platform will make it easy for you to set up your signage and display images, text, video – whatever content you’re investing in.
As for the content itself, it’s important to understand your audience. You should use data analytics technology to learn as much about them as possible, so you can craft content that will resonate with them. Invest in content that will appeal to them. Machine learning technology can help immensely with the content generation process. In the B2B sector, this typically means creating content that focuses on their pain points and how your products/services can solve them.
Your content can come in the form of:
Graphics that are eye-catching. They can include behind-the-scenes photos, images that showcase your business or even before and after photos. We recommend leveraging tools like Canva to create graphics that impress. Videos. People love video content, and even in the B2B sector, they can be appealing to target audiences. Videos that demonstrate your product/service and its results can be very effective.Customer testimonials. Want to win over the trust of your target customers? Incorporate customer testimonials or reviews in your content for social proof and credibility. Find a digital signage provider that offers a quote app to create content in minutes.
Regardless of the type of content that you create, big data and AI can help you create it more effectively. Platforms like Canva use sophisticated AI and data-driven design algorithms to create the best possible content for marketers. No matter what type of content you create, it’s vital to ensure that:
All digital images are of high qualityVideos are engaging and also of high quality
As a general rule of thumb, you want to avoid looping the same videos and images repeatedly.
The Proof Is In the Reports
Digital signage is a powerful communication tool and it’s important to show management teams the impact of digital signage. There are two methods we suggest:
Proof of Play Reports. Detailed proof of play reports and campaign reporting will show a detailed view of what is working, and what content changes should be made. Gain insight into the screen location and name, the impressions, timestamps, and number of plays. Business Intelligence Tools. Find a digital signage provider that offers a secure BI tool to display that visualization data. This is a powerful app and can help your business visualize performance across all your marketing campaigns.
Create Playlists and Schedules
Digital signage software allows you to create playlists. These are the order by which you want content to appear on your digital signage displays. Playlists and schedules work together to ensure that the content you want is played in the order and at the time that you want.
For example, your images, videos or messages can change depending on the time of day, season or even the weather. Having fresh content throughout the day can be a great way to keep your audience engaged and prevent decision-makers from becoming “blind” to your ads or content.
When using digital signage for your B2B company, ensure that you’re taking advantage of playlists and scheduling features. AI tools have made this much easier than ever.
Engage Your Audience with Calls to Action
To make your digital signage more effective, make sure that you include calls to action (CTAs) in your content. CTAs tell your target audience what to do next – call, text, email, walk in to learn more.
Because you will only have the viewer’s attention for a brief second or two, it’s essential to make sure that your message is short and memorable. The desired action should also be as easy as possible for customers to do. For example, you can encourage decision-makers to follow your B2B company on LinkedIn, Twitter or Facebook. From here, they can learn more about your business and what you offer.
Data analytics can help with the calls to action. You can use automated split-testing tools to see how various CTAs perform and optimize accordingly.
Assess and Adjust
Once you have your digital signage campaign up and running, it’s vital to assess the results by looking at data analytics tools and adjust as necessary.
Over time, you may need to change your playlist or even move your signage to a new location. Adjusting and assessing as necessary will help you maximize the results of your campaign.
