John Woodward Blog: October 2015

Tuesday, October 27, 2015

Tuesday, October 20, 2015

Power Yoga Flow Workout - Truth - w/ Michelle Goldstein

Monday, October 19, 2015

Wayne Lippman CPA - Taking money out of an S Corporation

Wayne Lippman CPA - When does Married Filing Separate Save MoneY?

Wayne Lippman CPA - Taking money out of an S Corporation

Wayne Lippman CPA - When does Married Filing Separate Save MoneY?

Thursday, October 15, 2015

Learn About Master Data Management (MDM) and How it Transforms Business Data into Value Drivers

Master data management (MDM) is defined as “a comprehensive method of enabling an enterprise to link all of its critical data to one file, called a master file, that provides a common point of reference” is one way that businesses make big data more efficient. By using a master file, companies can improve both the quality of information, and it can serve as a value driver. Let’s now look at some specific ways this is accomplished.

Consistency Equals Better Efficiency

In order for big data to truly do a business any good and have any tangible results, there needs to be consistency. For example, if customer data is fragmented, inaccurate or there are duplicates, it’s going to make it more difficult to effectively upsell or cross-sell –not to mention it can throw a wrench in the supply chain. But when MDM is integrated, it tends to result in more consistent data and more cohesion. In turn, managers and employees can utilize business applications and software with more efficiency, and they’re less apt to make needless mistakes.

In the case of upselling and cross-selling, MDM would increase the likelihood that customers would receive promotions for products/services that they are genuinely interested in, and a company could avoid sending multiple promotions to a single customer. When it comes to supply chain management, MDM can help a company improve distribution and the flow of goods so that it could better meet demand.

Increased Profitability

When you look at the long-term impact of this added efficiency, it means one thing – a business often becomes more profitable. Here are two examples to prove how:

A business that uses MDM to govern its data could become better skilled at upselling and cross-selling and would likely see a higher conversion rate and get the most out of promotions. They would also be able to build stronger relationships with their existing customers, which would lead to repeat sales and more word of mouth advertising. In turn, the business would see a better ROI and become more profitable in general.

A company that uses MDM for handling the data from its supply chain management would be able distribute products more quickly and with less friction than it would if it were lacking a solid data management system. This means that it would be able to keep up with customer demand more easily and be poised to capitalize on its most profitable products while they’re popular. As a result, it could streamline the distribution process and reduce supply chain costs, which again means more profitability.

And as the amount of data that a business accumulates continues to grow, it becomes even more essential to incorporate MDM. That way it’s better equipped to establish an effective information infrastructure that keeps nearly all aspects of operations running smoothly. So when you look at the big picture, MDM allows a business to function like a well-oiled machine while simultaneously improving the customer experience for a win-win situation.

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Tuesday, October 13, 2015

What is Enterprise Search?

What is Master Data Management?

Thursday, October 8, 2015

Bhakti Yoga flow ♥ heart opening yoga workout with Kumi Yogini

Power Yoga Flow with Michelle Goldstein (1 Hour)

▶Yoga workout :: 40 minute yoga flow daily recharge

Yoga Flow Workout ~ all levels ~ with Anna Hanson (33 min)

Power Yoga Workout for Weight Loss (1 hour) ✪ ✪

☯ Yin Yoga Class (40 Minutes) - Deep stretch yoga for cyclists, runners, hikers, athletes ☯

Bhakti Yoga flow ♥ heart opening yoga workout with Kumi Yogini

Power Yoga Flow with Michelle Goldstein (1 Hour)

▶Yoga workout :: 40 minute yoga flow daily recharge

Yoga Flow Workout ~ all levels ~ with Anna Hanson (33 min)

Power Yoga Workout for Weight Loss (1 hour) ✪ ✪

☯ Yin Yoga Class (40 Minutes) - Deep stretch yoga for cyclists, runners, hikers, athletes ☯

The Right Data Management Strategy Creates a Competitive Advantage

Data Management at your finger tip.

In our increasingly information-driven world, big data has become a point of emphasis for many businesses. However, simply having data isn’t enough – and you could make the argument that mismanaging data could potentially leave you worse off than not having any data to begin with. As a result, having an effective data management strategy has become a necessity for many businesses.

And as global management consulting firm McKinsey and Company puts it, “as data-driven strategies take hold, they will become an increasingly important point of competitive differentiation.” Here are some specific ways that having the right data management strategy can put you ahead of your competitors.

Better Understand Existing Customers’ Patterns and Preferences

By accumulating data and managing it properly, you can gain valuable insights into your existing customers’ buying habits and identify overarching trends. In turn, you’re able to determine what their preferences are and have access to their buying history whenever you need it.

This is incredibly beneficial because you’ll have a clear idea of what their unique needs are, which allows you to upsell and give relevant suggestions of products or services that might interest them. When you have organized information at your fingertips, it can also help you get the most out of your promotions, and you’re likely to see more repeat customers.

Effective Customer Segmentation

Often in business, a company will have multiple customer groups with each one requiring a different marketing approach. When you utilize the right data management strategy, you can gather information and use it to divide your customers into various groups in which each group shares similar characteristics.

This can come in handy because it allows you to create targeted marketing campaigns where you can connect with existing customers and prospects on a deeper level. Rather than taking a one size fits all approach, you can develop more customized campaigns and ultimately increase your conversion rate.

Optimize Information Architecture

Finally, an effective data management strategy will enable you to develop a solid information infrastructure. This will ensure that you’re only using data that’s genuinely helpful, and you’re not merely taking up storage space with irrelevant data. For example, it will provide a system that manages the flow of information from the time it’s initially uploaded and stored until the time that it becomes obsolete and is deleted.

It will also ensure that you’re able to quickly locate the information you’re looking for to minimize wasted search time. So when you look at the long-term impact of efficient information architecture, it tends to result in increased productivity and profitability.

Although big data is becoming more and more commonplace in numerous industries, this doesn’t mean that all businesses are using their data effectively. When you’re able to develop the right data management strategy, it definitely gives you a one up from a competitive standpoint. And the interesting thing about proper data management is that it can bridge the gap between industry titans and those lower on the totem pole. So even if you’re relatively small, you can definitely claim your share of the market with proper data management.

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