Frustrated Businessman

Working Through Setbacks and Learning from Failure

Setbacks happen in life, but it is important to make sure that the setbacks don’t control your life and cause you to stay stuck in a rut. The most highly successful people have failed several times. Failure doesn’t mean that you are not successful or not on the right path. In fact, they learned from their setbacks and then used the learnings to teach others how to avoid them.

The media usually hears about the big-time success of people after they have made it. Unless they specifically share how they pushed through their failures, the public doesn’t know if they failed or not. The success is praised and others often try to mimic it, but the setbacks will creep in. Those setbacks after seeing a success can wreak havoc on the mind. This is where the comparison of achievements begins, but only one person has the achievement receipts.

Many are afraid of failure and setbacks can stop someone in their tracks. They may lose interest, start something else, become depressed, or have self-doubt, but how many will take the setback and learn from it? That is the most important thing about a setback; you must learn how to come back from it. Since childhood, many have heard that we shouldn’t be afraid of mistakes or apologize for a mistake because it should have never happened in the first place. This is untrue thinking when it comes to the real world.

No one is perfect, and we can’t avoid failures. Whether you fall on hard times or lose that multi-million dollar contract, managing the failed experience without becoming overwhelmed is crucial.

So, how can one learn from a setback and use it to their advantage? Here are four ways to overcome a setback and instead make it a learning experience from Nate Armstrong of Home Invest:

  • LEARN TO ACCEPT THE FAILURE

When times are tough, it is hard to stay optimistic about the situation, but this is key for a positive learning experience. People often misconstrued positive thinking.. Smiling and pretending to be happy on the surface is not positive thinking. You must actually sit down and realize that this situation will not destroy you. Positive thinking should be used as an evolving tool when failure strikes.

Don’t go out of your way to set yourself up for failure, but face setbacks as they come with the aspiration that it is not the end game for you. If you can remember that the journey will have curves and bends along the way, then you are able to get through any obstacle and stay positive.

However, it is okay to have a moment where you feel disappointed, or upset, want to cry, or feel angry. Do not internalize the feelings.

  • LET IT OUT

As mentioned before, Nate Armstrong says not to hold it in. You should let out your frustration when hit with a setback. Take a walk, meditate, listen to soothing music, write it down, or go into an area where you can scream it out. This is how the acceptance process begins. The emotional surge you feel is only temporary and your mind will reset, allowing your brain to concentrate on bouncing back.

  • TRUTH PILL

The truth pill means being unapologetically honest with yourself about the situation. Now is not the time to shy away from the truth of the matter. Many people will blame circumstances or someone else for a failure instead of being accountable and taking ownership for their part. This is crucial when it comes to learning from a failure. Reflect on how this happened. Try and pinpoint what went wrong in order to correct it. Don’t rely on a distraction; honestly confront the setback and own the mistake. Don’t let it own you or control your feelings.

  • FAILURE CAN CONTRIBUTE TO FUTURE SUCCESS

Failing to succeed means you are continuing forward with your plans, but you have to develop new tactics to hurdle over any failures. You will make the appropriate adjustments to the situation quicker than before and will not dwell on it as long as before. Take in the information that was learned during the setback to create a different outcome if another setback arises.

In Conclusion

A failure does not define the person who failed; it is a bump in the road and the person should keep moving forward. It is ultimately up to the individual to want to overcome the setback and learn from it instead of letting it deter them. The setback is only a temporary block, so remember to shift the way your mind perceives the matter. Become efficient with the process and you may start to see opportunities where others can only see failure.

Nate Armstrong is the Investor Relations Chair for Home Invest and leads a team of real estate investors in Milwaukee, WI. Nate works alongside his wife, Jenifer.

Licensing

How to License New Products

How the Process of Licensing Works

Once you realize you have a brilliant new idea, it is hard not to get excited about how to make it something big and successful. If you are that person who has a new product or service that can change peoples’ lives, you should know that it is the first step of becoming a successful entrepreneur. You can either license the product independently, or license it to another company. Either way, here are some tips that would help you license your great idea without fail.

1. Research Exclusivity

After realizing you have a great idea and you are ready to license it, you must research to ensure that no one else has licensed it. You might find that your brilliant idea is indeed excellent but not new because someone else has already patented it. You can visit the United States Patent and Trademark Offices or Google your idea to see if it’s patented. If it’s patented, all is not lost.

2. Don’t Lose Hope and Instead Be Creative

It can be a very disappointing moment if you find that your brilliant idea is already patented by someone else. The good thing is that you can find your way out there by making a small improvement to your idea, and this way you will be slightly different from other inventors and hence more competitive. According to Blake Myers, the Chief Executive Officer for Universal Manufacturing Corp, people love new ideas but even the old-improved ideas, tend to excite them too. Therefore, you don’t have to reinvent the wheel to be a successful entrepreneur; be creative.

3. Check for Availability Of Market

Every product or service that gets introduced is expected to solve a certain problem that the members of the public are struggling with. Ask yourself, is my new product going to solve any problem among the people? To answer this question, you will have to find if there are people eagerly waiting to use your product or service. If no one is interested in your new product, you can delay paying for your official patent.

4. Be Slow but Sure

Unless it’s necessary based on the kind of idea you have invented, never be in a hurry to file an official patent. When people start creating their product designs and testing it, a lot of details tend to change before concluding with the final design. These changes might alter the specifications you identified in your original patent. This means you will be required to file another patent, and it will be unnecessarily expensive. However, if you are afraid of not patenting your idea right after identifying and confirming it, you can try a temporary patent that will buy you time to make any necessary changes. Once you are sure of no more changes, you can file the official patent, and this will cost less than filling two official patents.

5. Ask an Expert

Patenting and licensing a new product can be complicated and overwhelming to do alone, especially if you do not have the necessary skills. You might be smart to come up with a great idea, but you should never shy away from asking help from an expert such as an attorney. There are numerous nuanced expressions in patent and licensing laws, and you might require an expert to not only help you understand but also to help you to comply with all regulations.

6. Market Your Idea

There are numerous ways you can do this starting from word of mouth from you, your friends, family and business associates. Consider creating an ad for your prototype and different individuals and companies will get to learn about your idea. Multimedia can also be a good start because you will learn if your idea is viable or not from the reaction of different companies. Do not rely on one company but rather target multiple companies because it is possible the first ten or more companies you approach may not approve of your idea. This can be very frustrating, but never get discouraged or give up. Many successful entrepreneurs did not succeed with their first trial but eventually, they did, and you can too.

7. Be Persistent

Keep researching about your product idea, new companies to approach, how to get the right attorney or how to market your new product. Search for every detail that you feel might be important not only to license your idea but also on how to make it a successful deal. Blake Myers says that you can keep reaching out to the companies you have already approached because someone might appreciate your consistency and determination.

8. Be Prepared to Receive That Positive Response

After the struggle and consistency searching for a company to patent your idea with, eventually, if you do not give up, that call or email will come through. You must be prepared on what to present to them because a lot of negations will be involved. Do not allow yourself to be caught off-guard. Be ready with all the information that can get you a good deal if not the best deal.

Customer satisfaction

Dealing With Customer Churn

What Customer Churn is, How to Deal with It, and Why it Matters

It is always a concern when a company’s subscribers or customers stop doing business with them. Some refer to this as customer attrition but most often it is known as customer churn. The ability for a company to measure this is essential. History has shown it is more cost-effective for a company to retain its existing customers than to pay to acquire new ones.

Customer Retention Rate

Knowing customer churn rate will show a company their rate of customer retention. It will also help determine which strategies would be necessary for improvement. Companies utilize various methods to calculate this rate. Some look at the percentage of customers they have lost. Others want to know the percentage of customers they have lost compared to the company’s total number of customers. There are some companies that calculate this rate based on specific periods of time. This could be quarterly, annually and more. One of the most popular methods involves dividing the total number of a company’s customers at the beginning of a determined time period by the number of lost customers during this same period of time.

Reasons

Companies want to identify any issues that may be the reason for them losing customers. There are a few things that are considered common causes. One is providing ineffective customer service. A study showed approximately 90 percent of customers left a company as a result of their poor customer service experience. The business world is a competitive place and customers now demand the best possible customer service. When they don’t get it, they go to a business that provides it. There is also a good chance that customers who are not satisfied will share their bad experiences on social media and more.

Lifetime Value

There is a direct connection between the success of a growing business and customer lifetime value. A company’s chances of expanding its customer base will significantly diminish if their churn is too high. A marketing campaign well received in a company’s industry will not be effective if customers are being lost at a high rate. More than one study has shown that customer retention costs are far less than the costs associated with customer acquisition.

Eliminating Customer Churn

It results in a negative impact on a company’s income when this rate is too high. There are strategies a company can utilize to eliminate it. Customer loyalty is something that can be built from personalized service as well as positive experiences. Companies need to take a proactive approach to eliminate their own rate of churn. It is also effective when a business asks its customers who have left to complete a survey. The goal with this will be to discover the reasons these customers left the company.

Educating Customers

Many companies have been able to decrease their churn by regularly reminding customers what the company’s goods or services can do for them. They make an effort to keep their customers informed on any improvements and innovations. This has been shown to build customer loyalty.

Knowing Customers

One of the most essential elements for decreasing and eliminating customer churn rate is a business knowing their customers. With the proper use of Big Data, it is possible to obtain valuable insights into what a company is doing that keeps and drives away its customers. Big Data can make it possible for a business to anticipate the issues and needs of its customers. This will make it possible for a company to work toward retaining their business by meeting the expectations of their customers. This will involve identifying which customers are at the biggest risk for churning. This will give the company information necessary to improve the satisfaction of their customers at risk for leaving.

UserIQ

This is able to provide a platform designed to collect data for a company. It enables them to scale onboarding, accelerate time-to-value. UserIQ is able to provide its users with an increase in their revenue by providing information that will make it possible to provide the most effective customer service experience. It will forever improve the way a company interacts with its customers.

It is very important for a company to make an effort to decrease its churn rate as much as possible. Even a business with the most popular products or services will have a team of employees focused on decreasing its churn rate. This is often done in many different ways. It could involve a company improving its products or services. A company could work hard looking for things specific to its individual operation to deal with its particular churn rate and more.

Everything You Need To Know Before Starting Your Property Management Business

Starting your own property management company can be tuff but the rewards are astronomical. Typically, property management companies vary in size, from gigantic firms that manage thousands of properties like apartments and commercial plazas to smaller firms that represent a handful of residential rental properties. The underlying goal, regardless of your size, is to increase your profit. There are many ways to approach this problem, for the young and aspiring entrepreneur, listed are six ways to tackle this issue, even if you’re just starting out.

Owners Associations

Brian Setencich possesses a great deal of knowledge when it comes to working in both private government sectors. Working as the General Manager for First Service Residential has granted him some significant insight into how a profitable property management company operates. For starters, get familiar with owners associations. Both commercial and residential property management firms will typically create owners associations and hire them to manage their physical properties, including dealing with the headaches of filing government paperwork.

Use Modern Technology To Manage Your Properties

Using computer software or cell phone applications to keep track of how your properties are being managed is a must. Having the ability to receive automatic updates when rent is paid while being able to review and approve maintenance request on the go saves you time and money. Otherwise, if you choose to retain a third party, like an already existing property management company, prepare to pay a hefty fee. According to a recent article in Forbes, managing your own properties through a property management app may be cheaper but hiring a firm can help prevent legal issues which are likely to arise with a property owner beings to operate who is unfamiliar with the laws in their state.

How To Get Clients

Offering property management services to other larger firms is a great way for a property management company to make money on the side in lieu of simply possessing and renting real estate. To find clients, consult with local realtors and join the chamber of commerce in your area. Both of these strategies are a sure fire way to start procuring clients rather quickly with little to no overhead besides that of your own time.

Have A Portfolio

As with any business, having a portfolio is essential in the success or failure of your company. Think about it, when you look for a product online you want to see reviews; a portfolio if you will of the efficacy of the product. Those products with an overall negative review have a sullied track record and therefore probably aren’t a wise investment. It’s the same in property management. Having a company already established that has a track record of managing a few properties under its belt is ideal but not necessary. Another way to establish a portfolio would be to work for a larger firm like Brian Setenich and First Service Residential. Lastly, consider purchasing real estate and managing it under your company’s name, establishing a portfolio for yourself while simultaneously growing your company’s wealth.

Buy Ugly Homes

If you have the extra funds, look into buying ugly homes and remolding them. Construction contractors are usually pretty cheap and homes can be repaired relatively shortly if the damage isn’t severe. The main thing to avoid here is a property that has foundation problems; these can be the most costly and will hinder your company’s growth when just starting out.

Go To Tax Auctions

Those who haven’t paid property taxes on their homes eventually have them repossessed. In these cases, property buyers may attend regularly held IRS property auctions and procure exceptional real estate for a very reasonable cost; the unpaid taxes owed.

Brian Setencich graduated summa cum laude from California state university with a Bachelor of Arts in Business Administration. He has served as a City Councilman in Fresno, California; representing his district in the California State Assembly. His government experience was primarily gained while working as the Operations Manager for a 911 Emergency Response Project in San Francisco.

The Value of Diverse Experience Among Executives

Having a highly diverse and expressive Executive Suite can make a tremendous difference in how your company is perceived and how your staff feels approaching their superiors.

Creating a culture that embraces the importance of inclusion and diversity is both an ethical and moral business imperative. If executives in business are diverse, it creates a stronger position for the company to innovate and grow. Top industry talent will be attracted to a diverse company to help it to connect with its customers.

Business leaders need to act and embrace practices of inclusion and diversity in their leadership teams and organizations. Business leaders know that they cannot tell a brand narrative to customers if the narrative has very few points of view. Inclusion and diversity in leadership mean more than numbers, departments or an objective; these efforts have to be embedded in the organization’s DNA. Once this is done, it makes the brand narrative more meaningful, distinctive, and authentic.

In a study that was done by McKinsey, it was indicated that the top quartile for ethnic and racial diversity are 35% more likely to earn higher than the medians of their national industry. In another study, it was indicated that many diverse companies had 2 times more cash flow per an employee over a 3-year period than companies that were not diverse.

If companies do not structure a diverse culture, they will have it rough speaking to their customers genuinely. Having a top management that is diverse in a company is inspirational. To this end, we are going to look at the best practices that business leaders need to strive for in every company.

Being unapologetic and real

An unconscious bias is present in the corridors of business. Instead of hiding it, it is important to note that the differences we have dictate how we view the world. The first step to working to reduce the unconscious bias in the workplace is to recognize its reality. Diversity in the executives of a business helps underrepresented employees have a voice.

Establish credibility that is unimpeachable

You have to walk your talk. As a business leader, you have to take part in creating a more inclusive and diverse team. HP is a company with a diverse board of directors. The tech company has a board of 13 members with five of them being women, and several of the board members coming from South Asia. Denis Mackenzie also has a diverse team who help him to run his winery; this is one of the pillars that have helped him run a successful business

Empower champions of vocal diversity

When you have a diverse leadership team, it allows your company to give the active and passionate employees a platform to bring diversity into the entire organization from the bottom going up. A diverse leadership team will also equip its vocal employees with the opportunity to have sensitive conversations in a safe environment.

A diverse culture will also reward and celebrate its members, give its employees great benefits, programs to improve work-life balance, a workspace that is open and collaborative, and groups of employee resources to share similar values, goals, and differences. The leadership team will also help drive the onset of new businesses and attract great talent and partnerships.

Lead boldly

Diverse leaders help to change how the usual business environment operates. For example, diverse leaders in a company can challenge their partners to submit plans on how they can increase the number of minorities and women in strategic and creative roles in a business.

HP was able to donate $100,000 as an initiative that was aimed at increasing female directors in advertising, with the goal that one out of three competitive bids will be for a female director. When a leadership team embraces the diversity of experiences, perspective, and ideas, it has the potential of unlocking growth, and innovation. Leaders in business have to reinvent the inclusion and diversity standard even further to make a difference in companies, in the community, and in the marketplace.

Building diversity in the boards of a company

It is not easy to build diverse boards, but it is essential. Diversity is the foundation of perspective, insight, and thinking about markets, business practices, and consumers. If there is a lack of diversity, then there is a missed opportunity.

Blind spots are easily found in culturally homogenous boards, and this makes them miss essential aspects about internal problems and market trends. That is why a diverse board that is highly accomplished is important today when businesses are competing globally.

Diversity in a board helps a business have multiple views on the result of an action, which means that the board is likely to be aware of different risks on the table when the company is pursuing different agendas. When recruiting a board of directors, each company should at least have a nominating committee that:

  • Ensures that diversity is a requirement
  • Be more inclusive of minority groups and women that have valuable skills, expertise, and perspective.
  • Set insights and competencies that are being sought after by the board.
  • Looks for gaps present in the current board and ensure that different perspectives are represented.

Conclusion

Denis Mackenzie has been able to foster a broad company culture that encourages openness, independent opinions, and honest feedback from his team. Denis Mackenzie also strives to have diversity in his staff, which other companies should also look forward to having, to push the culture of a company’s leadership further.

5 Technologies Developers Should Learn For The Current Job Market

The economic prospects of software developers have never been better. It shouldn’t surprise anyone to learn that there is massive job growth in this field, given the increased role that computers play in our daily lives. According to the National Labor Statistics Bureau, this particular job market is projected to grow about 24 percent within the next eight years which is well above the norm.

Here are five new technologies that software developers need to be familiar with to remain competitive in this crowded field.

Focused Artificial Intelligence

Many people feel nervous about the idea of machines that control themselves. While it is true that this is a rational fear, it is also true that the internet has become too large to be operated manually. As such, programmed algorithms are likely to replace manual oversight for most sites. The demand for talented people to write those algorithms will only go up.

Virtualization

The art of using computer simulations to predict real-world results is not new. However, there is a greater need for reliability when you consider the scale of modern software use. For instance, let’s say that you run a hospital. You know that a technology failure in this environment can lead to death, disease, and serious legal consequences. Before you implement your new technology system, it is sensible to test the new system in a virtualized environment. That’s where you come in.

Virtualization, also known as “sandboxing” is an incredibly complex skill that requires the programmer to calculate every possibility and program the system to react accordingly. There will be an increased demand for these skills as companies realize that they can save a lot of money and liability with accurate testing.

Mixed Reality

Sean-Seshadri

Remember “virtual reality,” and how it was supposed to be the next big thing? Well, it wasn’t. Still, the concept of “mixed reality” may succeed where its older brother failed. Rather than creating a fully digital world for the user to immerse themselves in, mixed reality takes your normal view of the world and overlays digital 3D-objects upon it. Such systems are not only useful in tech and gaming markets, either. Some companies have used this tech to create interactive product catalogs where the customer can receive an interactive browsing experience that is both informative and impressive.

Blockchain

There is every indication that cryptocurrency-related blockchain technology will continue to be just as big of a market factor as it has ever been. It would be hard to argue the fact that confidentiality can be a major selling point, and not just for criminals. In a world where digital data leaks out like water through a sieve, it is nice to know that certain things are still safe. The blockchain technology that powers most of these cryptocurrencies has the potential to be used for secure transfer of data in many other industries as well.

Machine Learning

Here’s a fascinating concept: The idea that machines can learn and grow as we use them, adapting themselves to serve our needs. This idea is no longer in the realm of science fiction but is still quite difficult. As such, talented developers will be needed to meet this growing need. Like AI, this kind of technology becomes necessary because technology has outgrown humanity’s ability to control it manually.

No matter how smart a computer is, it will always require a talented and educated person to program it. Since machine learning requires each system to be customized specifically for its industry and environment, we can safely assume that there will be a lot of new jobs here.

Sean Seshadri has worked in Technology since high school. After attending and graduating from Central Washington University, he went into the programming sector. Today he runs a successful blog helping ordinary people as well as professionals better understand technology. In his free time, Sean Seshadri enjoys attending tech conferences around the world which help him stay up to date on any new technology. He’s a seasoned traveler and enjoys utilizing travel technology such as apps, he also enjoys cooking for his friends and family, whenever he is home.

Why SMB Should Invest In Master Data Management Tools

If you are planning to deploy an MDM (Master Data Management) solution, you need to understand its uses and benefits. You need to know how each of the elements of the MDM will help you to achieve more productivity in your workplace.

We are going to look at five benefits and uses of the MDM capabilities that you will be investing in when you deploy Master Data Management tools.

Data Linking and Matching

In most companies, data is usually captured by different applications and systems. For some organizations, the number of silos for data storage has increased, and this can easily cause data duplications and variations of data.

To counter data duplication and variations, MDM has a feature called data matching and linking which uses algorithms to identify duplicate data automatically and help to ensure that there are accurate records of single entries.

In addition, the data matching and linking feature helps to monitor the integrity of your systems, provide accurate information to all your systems, and automate resources demanding on tasks.

Application of master data business rules

When you deploy the Master Data Management tools like that offered by Profisee, you need to introduce actions and conditions that can help to modify the company data; this is where business rules apply.

The business rules that are being applied to the company data need to be shareable across different use cases like data importing or in approval processes.

Business rules need to be centralized, to allow rules to be altered once so that there is an effect everywhere. Business rules should not wait to be implemented from the backend; they need to be implemented in the user interface directly.

Business rules help you to create, manage and apply the governance policy data in the company. These policies enable you to define a lifecycle for the relevant data object types and to define the workflow for approval on data instances.

Managing location data

There is data under the law that is required to stay within a country’s borders. The localization of data is stored in devices that are physically present in the country’s borders where data generation occurs.

Some governments restrict data flow and encourage data localization to promote border security. For instance, the GDPR (The General Data Protection Regulation) states that personal data can be freely shared outside of the EU when there is a guarantee on its protection. Since non-compliance is high, most companies ensure that data for customers is within the EU or within the country where the data originates.

Master Data Management solutions can help the company to standardize the location data using data and integration quality tools. You need to be able to connect location data that is centralized with domains of other locations to find out the relationships to master records.

Supporting data security

As data that your company handles increases, it is vital for the company to ensure that data privacy processes and policies are active. To help you define the data access rights, the MDM solution can help you achieve this using rule-based security policies. These security policies will help to restrict actions to the data and protect private and sensitive data like the ones stored in health and financial services.

An MDM solution will additionally help you to encrypt data attributes using cryptographic keys that are defined by the business so that the users will be required to use a password to view the characteristics of the data. This feature helps you to counter any vulnerabilities that external parties can exploit.

Providing data enrichment

The enrichment of data entails the processes and tools that improve the data quality coming from different inbound sources. It’s an essential element to achieve a 360-degree data view. Streamlining and cleaning data can lead to substantial operational and customer targeted benefits since you can identify irrelevant, incorrect and incomplete data, and delete or modify where necessary to provide a more accurate customer view. However, when you integrate third-party sources, you can refine and enhance the data even further.

How Education Can Help Advance Sustainability

As one of the leading plastic surgeons in the U.S., Dr. Usha Rajagopal has built a reputation for the skills she brings to bear for the San Francisco community. The board-certified surgeon does not limit her work to building a successful practice at the San Francisco Plastic Surgery and Laser Center but also dedicates a great deal of her time for building awareness of the issue of sustainability and its importance for the future. Educational programs can take many forms, in the view of Dr. Rajagopal, as the choices made by medical professionals can be used to improve the lives of patients and members of the local community.

A sustainable future 

The issue of sustainability is one we must all play a role in for the future. Dr. Usha Rajagopal believes the future of the planet can be aided by every person increasing their use of sustainable programs. A sustainable future means making sure the way we live today does not impact the lives of future generations, according to UCLA. As we see the effects humans have had on the world around us, it is becoming all too clear the finite resources of the planet are not going to last forever and must be replaced by sustainable choices.

Educating the youngest generation

In the view of Dr. Usha Rajagopal, there are many ways of developing new projects and programs to educate students in a range of academic environments. A range of activities should be encouraged in academic environments including classroom education, community-based projects, and changes made on campus, according to the Sustainable Schools Project. As one of the leading surgeons in California, the member of the Association of American Plastic Surgeons believes the need for action in every location can be used to educate the public.

Among the different options open to the people of the world in developing new projects and programs to change the view of the use of sustainable energy production and materials is the requirement to switch away from fossil fuels. As students and members of the community play a role in the switch to sustainability, lessons are learned on a regular basis providing knowledge which can be carried through life.

Education through action 

One of the most important areas of the development of sustainability projects is the involvement of the healthcare industry which plays such an important role in local communities. MedSpeed reports an average investment of just $2 million in sustainable technologies can result in savings of $1 million per year. For Dr. Rajagopal, the major reason this is important to publicize is the fact major savings for patients can be used as a tool to educate the community about the benefits of sustainable programs.

By passing on the savings to patients, the chance to increase the level of healthcare education in the community is also improved as more funds are available for outreach programs. There are major areas of sustainability education which can be headed by members of the healthcare industry including the introduction of new technologies which will become the norm for all in the coming years.

 

How Adrian Rubin Anticipates Machine Learning Changing Business

There is no doubt the business world is changing, with the emergence of artificial intelligence and machine learning playing a major role in the evolution of various sectors. Adrian Rubin has been monitoring the development of machine learning for some time and believes this technology will play a major role in the creation of an automated workforce and economy in the future. Business has already changed with increasing reliance on artificial intelligence taking a lead role in the new era of industrial success created in the last few decades. Complex algorithms have taken the place of the business development brains of the past and changed the way companies are conducting 21st-century business.

Understanding machine learning 

Understanding why Adrian Rubin is so intent on explaining the success possible from machine learning means a greater level of understanding is required for this important subset of Artificial Intelligence. Machine learning in its most basic sense means a machine is taught how to interpret and learn from the data it is given. SAS explains the difference between the two forms of technology as artificial intelligence mimicking human learning while machine learning is the science of teaching technology to learn.

Machine Learning is already being used 

When Adrian Rubin discusses the fact machine learning is already being used in the business world, many people are shocked to hear this form of technology is already amongst us. Looking at online-based subscription services such as Netflix and their recommendation actions is a version of machine learning. We may believe the development of a simple recommendations-based piece of technology would be simple but a large number of complex algorithms bring together vast quantities of data. Among the data considered by the machine learning program is purchase history, viewing history, and profile settings, according to Entrepreneur.

Everybody has access 

In the last few years, many entrepreneurs in Silicon Valley have complained to Adrian Rubin about the top five major U.S. technology producers making it impossible for startups to develop properly. However, in terms of machine learning and Artificial Intelligence, the top toolboxes are open for all to use and modify. The Guardian reports Google has already made its TensorFlow software Online as an open source app for all to use with Internet-access. In fact, machine learning is such an important part of the future of business technology, the development of every major software option has been made available to the public free of charge.

This means each and every business leader in the world can begin the process of adapting machine learning software to meet the demands of their own company. The fact Google and their main technology rivals are hoping for a future with every company understanding a little of how the TensorFlow technology can assist their growth and evolution.

Sectors to be affected

Almost every major technology sector will be affected by the machine learning in the coming years as the roles traditionally filled by human employees will be carried out by A.I. developed through this technology. The health sector is already looking to develop ways of using machine learning to assist in the diagnosis of specific medical conditions. Factors such as age, location, and family history are also being used by health sector companies to build a picture of which medical conditions will have an effect on the health of an individual in the future.

 

How Miss Bongo Avis Symbolizes Modern Marketing

Marketing has truly changed from its course from traditional means such as TV and prints ads to the rise of digital marketing methods. There are only a few tech companies that truly stand out with their modern marketing strategies. One of them is Miss Bongo Avis, an SMS messaging company that maximizes the power of mobile marketing to help users get the best experience.

According to Miss Bongo Avis, there is some interesting information about mobile marketing that businesses should understand:

  • All high-ranked websites that were searched in popular search engines were mobile-adaptive. This means that businesses should prioritize their mobile capabilities in order to reach the target audience and get a better user experience.
  • More than half of marketing budgets were spent on mobile advertising. As people get more dependent on their mobile devices, it is imperative that they spend most of their time there compared to TVs or any other digital gadgets. Businesses should pay attention to how they can make their products or services accessible on the mobile platform.
  • 80% of all internet users have a smartphone. Since the launching of the iPhone in 2007, the growth of mobile marketing has expanded exponentially. This gives businesses more reason to focus on how they can provide services through the use of a smartphone to provide convenience to all users.

Taking note of these interesting facts about the modern mobile marketing scene, let us learn about how Miss Bongo is a great example of a successful company that took advantage of these tech developments.

How Miss Bongo Avis Symbolizes Modern Marketing

 

  1. Miss Bongo harnessed the power of smartphones

Come up to anyone and you would discover that more often than not, they own some sort of a smartphone. Whether it’s an iPhone or an Android device, chances are people cannot live without their smartphones. In fact, some studies would even show that people spend time touching these handheld devices to up to 45 times a day. That’s quite a lot! This is how Miss Bongo succeeded. With their prioritization of services through a mobile device, they made it possible to connect with the needs of their clients.

  1. Miss Bongo delivers quick results

Aside from the rise of smartphones, we all know the real purpose of technology. It wasn’t just to look cool and sleek, it is to make things more efficient. In the world of instant noodles, microwave, and other claims of fast results, Miss Bongo ultimately delivers. Miss Bongo promises to give answers to questions on any topic through their SMS messaging service within minutes. Compared to message boards or website inquiries which may take days or even weeks for an appropriate response, Miss Bongo provides information for users on the go, and it delivers fast.

  1. Miss Bongo always keeps up with the latest trends

One great thing about technology is that it helps us keep in touch with the latest trends. Miss Bongo isn’t just for informational purposes. It can also be used for entertainment. Perhaps you are curious and looking for fun, you may want to ask Miss Bongo a funny question about you or others. You can include references on the latest trends, memes or anything that interests you. Since Miss Bongo is researched and AI-powered, you can easily get helpful results without having to wait. Not only that, it is more than likely accurate or entertaining, depending on the goal of your question.

  1. Miss Bongo provides such a unique user experience

The problem with some applications is that they require internet access to push through. Although the internet is widespread in many areas across the globe, it is a fact that some areas do not have enough coverage to give you a good connection. Miss Bongo helps get rid of this blunder by giving a unique SMS messaging experience that doesn’t rely fully on internet access. As you send a message, you will be going through the mobile network and not from the internet.

These are some characteristics that made Miss Bongo a popular service for the millennials and even the older generation alike. As a business owner or even just an observer, there are many things we can learn from this SMS service and how they utilized modern marketing techniques.