Contact Us
×

Category: uncategorized

Marketing Intelligence and Strategy: Using Data and Analytics to Market Brands More Effectively

Posted on by Imarticus Learning

Marketing is one of the most crucial parts of any business, which helps it to grow and expand steadily. Goal-setting and decision-making are the two components that allow a company to create an efficient marketing strategy. These two components can be implemented with the assistance of extensive data research.

In modern times, a huge amount of data and insights are required for creating an effective marketing plan. This can be easily collected with the help of modern technologies like artificial intelligence (AI) and machine learning (ML). The data used for marketing by a company is also known as marketing intelligence.

Marketing professionals can upscale their career trajectories by learning more about marketing intelligence from any online digital marketing course. This article will guide you through the various marketing intelligence and strategies. 

Let’s dive in to learn in detail!

What is Marketing Intelligence?

Marketing intelligence is the data that a company uses to create an efficient marketing strategy. This data consists of the company’s previous information and statistics on their marketing section. After collecting this data, a company can easily create market opportunities, market trends, competitors’ intentions, and consumer behaviour.

The data collected for marketing purposes by the company may consist of various information like:

  • Market trends, as well as economic indicators, include both global and national markets.
  • Information about competitors is also included in this data. This information comprises the competitor’s activities, investments, funds, positive aspects, flaws, etc.
  • Apart from these, information on existing customers and targeted consumers is also included in the marketing data.

Various Models of Marketing Intelligence 

Various companies use varied models of marketing intelligence specific to their goals. These models have their specific focus points. A few of those models have been discussed below:

Customer Intelligence

One of the most widely used marketing intelligence models is customer intelligence. Customers are the main component of marketing. They are targeted to sell products and earn more revenue.

Therefore, companies scrutinise consumers’ habits, preferences, purchases, and behaviour while creating an impactful marketing strategy. Hence, customer intelligence allows a company to generate more revenue by simply targeting the correct group of customers.

Competitor Intelligence

To win and beat the high competition in the business sector, companies often opt for competitor intelligence. This is another mode of marketing intelligence that companies use to ace the strong market contention. In this kind of marketing intelligence, AI tools research and collect data about the various competitor products and their prices in the market.

There are instances when a company publicly shares their market shares and plans through online or offline platforms like an interview or magazine. This helps to add more data and enhance the quality of the marketing plan.

Market Research Intelligence

The next model is market research intelligence. In this case, the companies focus on their market and consumers. Therefore, it collects data about its customers’ previous purchases and activities.

Apart from these, a company also extract other information about its consumers like their earnings, age, location, preferences, etc. All this data assists a company in making a successful marketing plan to directly reach its targeted audiences.

Product Intelligence

The last model of marketing intelligence is product intelligence. In this model, various data related to the products are collected. This data consists of the prices, types, characteristics, etc.

Product intelligence mainly works through public polls and surveys. This allows a company to comprehend better the requirements of their current as well as targeted consumers.

Advantages of Marketing Intelligence

Marketing intelligence is famous among various companies from different sectors because of its advantages. Here are a few advantages of marketing intelligence:

  • Marketing intelligence collects all the previous data and insights of a business, which automatically boosts future marketing strategies.
  • It also guides a company so that they do not repeat any past mistakes. This allows a company to improve itself and set a high competition.
  • Unlike the old traditional methods, the marketing intelligence method allows the company to create a market strategy with real-time data.
  • Companies that use marketing intelligence have better knowledge about the market and possess more advantages over the non-users. Companies using it are also aware of their competitor’s weaknesses and strengths.
  • Marketing intelligence also protects companies from various marketing threats, which secures their market position. Therefore, these companies can prevent heavy losses.

How to Analyse Customer’s Behaviour While Creating a Marketing Strategy?

Analysing customers’ behaviour is extremely important while building an efficient marketing strategy. This allows a company to understand what their consumers are looking for and what they exactly want. 

Every customer leaves behind a unique pattern from their previous shopping histories. If a company can trace this pattern, then it can accurately predict the future and can design campaigns as well as strategies accordingly. 

Hence, a company needs to analyse its existing customer’s behaviour so that they can have maximum profit. This not only allows a company to grow by increasing its reach among new customers but also allows it to hold on to its loyal customers for a longer period.

There is certain detailed information that a company needs to collect so that it can extract the analysis of its customer’s behaviour. Given below is the data companies must collect:

Collecting the Personal Details of the Customers

The personal details of every customer are essential for marketing purposes. This allows a company to reach its target audience for a particular product type. These details help enhance customer satisfaction and retain customers for a longer period.

Here are certain details that a company would require to make an efficient marketing strategy:

  • Personal Details: This includes everything from sex, age, income, education, and family background to geographic location, hobbies, interests, etc.
  • Professional Details: This information includes where a customer is working and the size of the company. It also includes the sector in which the company is categorised.
  • Beliefs: This includes personal as well as professional aims, goals, values, etc.
  • Challenges: This point includes all the personal problems, pain points, and needs of a customer.
  • Past Purchase Details: A company should have the past purchase details of every customer so that they can create a customised product list for them in future.
  • Barriers: This includes the barriers that can influence the choices of a customer.

Collecting the Customer’s Qualitative and Quantitative Data

A company needs to collect all the qualitative and qualitative details of their customers so that their behaviour patterns can be identified and products can be suggested accordingly. Quantitative data of a customer comprises social media interaction, history of previous purchases, frequently visited websites, etc.

On the other hand, qualitative data of a customer will include various customer surveys, feedback, customer executive conversations, etc.

Deciphering Customer Behaviours and Approaches

Apart from these details, there are several customer behaviours as well as behavioural approaches which help a company identify its customer’s needs. These behaviour approaches have been discussed below:

  • Humanistic Approach

In this theory, the consumers are treated as one single individual, and they have their reason for making any kind of decision. These decisions will generally be self-centric and, hence, will be reflected in their purchases.

  • Cognitive Approach

In the cognitive approach, it is believed that a customer acts according to a particular mental process that will eventually reflect on their purchases. Therefore, a company has to recognise its customers’ needs by tracing their searches and suggesting products that can fulfil those needs. The company also has to make sure that its customer is satisfied with the purchase.

  • Economic Man Approach

This theory states customers always choose the lowest-priced products to meet their needs. Therefore, a company needs to set the price of its products reasonably so that customers can easily buy them.

  • Behaviourist Approach

The behaviourist approach states that a customer always shops according to their experience so that they do not repeat their past mistakes. Therefore, creating a positive experience is extremely important for a company to boost its current as well as future products.

After learning about the various behaviour approaches, it is time to delve into the various behaviours a customer can portray while purchasing a product. This will help a company learn more about their consumers, which it can then incorporate into the marketing strategy. Here are some behaviours which a customer can display:

  • Extended Decision-Making Behaviour

In this behaviour, a customer does extensive research by asking their friends and family, comparing the product’s price on other sites, reading online reviews, etc.

  • Variety-Seeking Behaviour

There are various products of similar kinds that are available in the market. Many customers prefer to compare those products with each other before buying. This comparison may be made based on product quality and price.

  • Limited Decision-Making Behaviour

In this behaviour, a customer buys the product because of its availability. This means no other site has the same kind of product that the customer needs. Therefore, it indicates the product is not widely available, making it more alluring.

How to Study Markets While Making an Efficient Marketing Plan

An efficient marketing strategy requires extensive market study. Researching or studying a market involves the customers, competitors, industries and industrial trends. To build a profitable business, a company should consult mark study. It allows a company to understand the economic influence and whether it can grow in a particular market or not.

Market research or study assists a company in inventing new ideas for their upcoming products. The result of a market study also helps a company commence a new business armed with an effective marketing plan. Here are the steps following which a company can easily conduct market research or study:

Step 1: Stick to One Definite Research Objective

Finding a particular objective from market study or research should be the main objective of a company. Therefore, a company needs to figure out the elements it is trying to obtain and can finally focus on them. The market study also allows a company to know more about the market as well as the customers.

Suppose a company is planning to launch a new product in the market. Then, the main objective of a market study would be to identify the demand for the product, the rate of success or acceptance from the customers, and how much the customers are willing to pay for that product.

Step 2: Identify a Few Research Questions 

After identifying the main research objective, the company must figure out a few research questions. These questions should be related to the market, consumers, and competitors.

Step 3: Gathering Data

After conducting market research, a company usually collects two types of data. One is the quantitative data, and the other is the qualitative data. Quantitative data involves a huge mass response through various questionnaires and polls that help determine the conclusion.

Qualitative information is more about research and gathering in-depth information. It has very little customer interaction.

Step 4: Construe the Research

In this step, a company has to find the end answer by deeply interpreting all the information it has collected from the market study. Then, the company needs to organise this information in tabular, statistical or bullet format. This is one of the most important steps because it allows a company to finally comprehend its strengths, weaknesses, threats, as well as opportunities. 

Step 5: Final Decision

The final decision is the last step after selecting a main objective and collecting data. All the findings from the market study are reviewed and aligned in this step so that the management can arrive at a suitable decision regarding the product, whether it is ready to be launched or needs further improvement.

Various Marketing Strategies

A company can use a combination of different marketing strategies after gathering all the data with the assistance of marketing intelligence. Some marketing strategies have been discussed below:

Digital Marketing

Digital marketing is one of the most sought-after marketing strategies in recent times. This strategy is economical and has a high reach among consumers. Companies seeking to expand their reach to a larger customer base can opt for this rapidly growing marketing strategy.

According to this strategy, marketers generally use websites, email newsletters, SEO content, paid advertisements, paid partnerships, etc, to promote and market their products and services.

Print Marketing

Print marketing is one of the traditional marketing strategies. In this strategy, a company promotes itself by advertising in newspapers, magazines, journals, pamphlets, etc. In print marketing, the evidence about the products is directly shared with consumers through physical shreds of evidence.

Even in the digital age, print marketing has held a strong position in the marketing sector. This is because it connects to those customers who are not accustomed to using modern-age devices and technologies like smartphones, online shopping, etc. Therefore, we can still witness people distributing pamphlets about exclusive deals, discounts and newly launched products of a brand as a part of print marketing.

Affiliate Marketing

One of the modern-day marketing strategies is the affiliate marketing strategy. In this method, a company collaborates with an individual with a vast audience base, such as celebrities, content creators, sports personalities, etc. These brands then ask these famous personalities to advertise their products in exchange for a commission from every single purchase.

This marketing strategy is very popular, especially among the young generations. As they can earn money via various social media platforms. The affiliated partner creates and posts promotional content online on their social media pages so that their audience can be influenced and purchase the brand’s product.

Influencer Marketing

The most new-age marketing strategy, this has turned out to be very profitable for various companies. In this method, a company approaches influencers on various social media platforms who have a huge following so that they can promote their products and services.

Social media influencers include public figures, politicians, movie celebrities, sports personalities, content creators, and bloggers. People tend to follow these people and their lifestyles. Hence, companies can easily use their huge following base to promote their newly launched product or any service in exchange for a sum of money.

Conclusion

In today’s competitive world, knowledge about marketing intelligence is a prerequisite to establishing a successful career in the marketing world. Aspiring marketers can easily acquire this knowledge and upgrade their position by enrolling themselves in courses for marketing professionals. 

Study digital marketing with Imarticus Learning, as they have brought an exclusive Post Graduate Certificate Programme For Emerging Chief Marketing Officers. Presented in collaboration with IIM Indore, the course is conducted by experienced faculty. This 12-month course offers a combination of both online and offline classes.

If you are willing to upgrade your skills, commence a career as a marketing professional, or are eyeing the CMO position, then enrol yourself in this programme today and grab lucrative opportunities.

Head to the official website to learn more!

Imarticus Learning: Leading the way with the best certification courses

Posted on by Imarticus Learning

Imarticus Learning: Leading the way with the best certification courses

When it comes to certification courses, Imarticus Learning is leading the way. You cannot stress the importance of certification courses enough. The certification courses can enhance the knowledge and skills in a particular field of business or industry. The certification courses will help you in your professional career and also help you improve your skills and knowledge, which is necessary for gaining promotions.

You can use the certification courses for various purposes like enhancing your knowledge, improving your skills, increasing your employability, etc. This blog will discuss why Imarticus Learning leads the way with the best certification courses.

How is Imarticus Learning envisioning future careers?

Imarticus believes that education is a lifelong process. Its mission is to prepare the worldwide learning community for a futuristic, tech-driven society by organizing information with modern technology and making learning accessible. 

They seek to provide practical knowledge and skills through online courses. They provide online degrees, real-time collaboration platforms, and other technologies. They offer professional development programs for educators and corporate employees seeking career advancement or new skills in digital education. Imarticus mission includes developing tomorrow’s leaders by delivering purposeful learning experiences. 

Here we discuss a few of the best Imarticus Certification:

The Marketing Certification Programs provide a comprehensive and in-depth understanding of Digital Marketing ideas in a more practical setting. This Certification Program takes a collaborative approach that emphasizes several capstone projects, career readiness skills, and guaranteed placements.

The Analytics Certification courses partner with the Data Science & Analytics industry to help you obtain the specific skills most of the world’s leading employers of Data Scientists seek. 

Finance Certification courses will educate students on the subtleties of financial structures. They will prepare you for profitable professions in investment banking and financial planning services.

Recent awards and recognitions!

Imarticus Learning was named the Best Education Brand in Analytics 2022 event in Delhi. The Economic Times – Best Education Brands 2022, now in its fifth year, drew notable luminaries from education and leadership.

Imarticus Learning has also emerged as the preferred source for training, and skill development partners for over 150 organizations, including prominent Global & Domestic Banks, Consulting, KPOs, and Technology & Analytics firms, during the previous years. Imarticus learning has received several honors, including Top Analytics Provider and India’s Leading Institute.

How is it benefiting students?

Mr. Nikhil Barshikar’s (M.D – Imarticus Learning) goal of supplying skilled technical individuals of worldwide caliber who would operate as global leaders in the Banking, Analytics, and technology arena gave birth to Imarticus Learning.

Imarticus has been around for ten years and is still going strong. Intending to make a positive difference in the lives of aspirants, they have successfully trained and placed hundreds of students in their intended professional fields. Imarticus Learning is a cloud-based platform that offers various courses and certifications. 

They are proud to have helped thousands of students across the globe achieve their goals by providing the best learning solutions. The students get access to valuable education and training from an array of industry leaders, which helps them gain practical knowledge and career-related skills.

For more detailed information on a particular certification course, contact us through chat support, or visit our training centers in Mumbai, Thane, Pune, Chennai, Bengaluru, Delhi, Gurgaon, or Ahmedabad.

Imarticus Learning – one-stop for courses from IITs and IIMs.

Posted on by Imarticus Learning

Imarticus Learning – one-stop for courses from IITs and IIMs.

IIT (Indian Institute of Technology) and IIM (Indian Institutes of Management) are two of the premier educational institutions in this country. They hold a high aspirational value among students and only a selected few get a chance to earn a prestigious degree here.

However, in the current times, there are various IIT and IIM certification courses on offer that can help you complete specialization in different areas. Moreover, with these courses, you can get the coveted degree from these two premier institutes. 

So, if you are planning to complete a course from any of these two institutes, then Imarticus Learning can be your best option. It is your one-stop platform to access all the certification courses from IITs and IIMs.

Reasons to Prefer IITs and IIM Certification Courses

Following are some of the reasons why certification courses from IITs and IIMs are gaining popularity –

  • Trained by the best faculty

If you are trained by the best faculty in the country, then you are bound to progress in your career. IITs and IIMs have the best faculties from all across the globe. The teaching methods at these institutes are also revolutionary. 

  • Exposure to quality case studies

If you are a student of these institutes, then you get access to quality data in the form of case studies. There is a rare chance that this data will be ever displayed at Tier-2 and Tier-3 colleges.

  • Wider acceptability

Owing to the global status of IIMs and IITs, any courses that you complete from here are acceptable everywhere in the world. So, even if you are applying for a job outside of India, you can use this course to your advantage.

  • Adds weight to your resume

As you have already understood the reputation of IITs and IIMs, completing any courses from here will only add to your resume.

What IIM and IIT Certification Courses Can You Do at Imarticus?

There are three types of IIM and IIT certification courses that you can do at Imarticus educational institute – 

Marketing 

  • Advanced Certification in Digital Marketing and Martech, IIT Roorkee

Analytics 

  • Certificate in Artificial Intelligence and Machine Learning, IIT Guwahati
  • Professional Certification in Supply Chain Management and Analytics, IIT Roorkee
  • Professional Certification in Data Science and Machine Learning, IIT Roorkee

Finance 

  • Post graduate programme for emerging CFOs, IIM Indore
  • AMP in Financial Services and Capital Markets, IIM Lucknow
  • Executive program in Investment Banking and Capital Markets, IIM Calcutta

These IIT and IIM certification courses are at the cutting edge of technology and in sync with the latest educational trends. Students are bound to gain these qualifications because colleges from the lower rungs are still to catch up with this mode of education.

Reasons to Choose Imarticus Learning

Here are some reasons why Imarticus Learning should be your top priority while completing an IIM or IIT certification course –

  • Not only shall you get to study the foundational elements of the course, but you shall also get a vis-a-vis with the advanced concepts.
  • Courses from Imarticus Learning get you employed instantly as the CIBOP certifications are industry-recognized.
  • With Imarticus, you get a chance to interact with industry leaders. You also get an opportunity to build a solid peer network with professionals even after completing your education.
  • Another advantage of opting for a course from Imarticus is that you are taught all theoretical concepts with practical case studies applicable in real life. You are taught with the aid of live examples from recent events, thus giving you clarity of concepts. 

Final Words

Completing an IIT and IIM certification course can help you improve your employability. Additionally, it also increases your knowledge of a particular domain. So, if you are planning to apply for one, check out the courses that Imarticus Learning has to offer.

The future of banking and finance courses after graduation: Spheres to expand

Posted on by Imarticus Learning

Banking and finance courses have always been in-demand after graduation. These are the most significant pillars of the economy. Even with the changes in technology, these sectors are growing consistently making them popular courses to pursue after graduating from 12th or colleges. The advancement of financial technology is one of the reasons why it is getting more and more popular. 

Unlike the earlier time, the prospects of a career in these sectors are not confined to clerical jobs. Several technology-oriented jobs in the banking and finance sector lure more graduates into this field. They can choose financial accounting, NMIMS Distance MBA, or other banking courses after graduation. 

Benefits of choosing banking and finance courses

  • There are plenty of job opportunities with multiple job profiles
  • Attractive salaries both within India and abroad
  • Perfect for career growth and for reaching the top levels
  • Ideal for highly ambitious professionals
  • Provides job security and satisfaction
  • Good opportunity for skill development in various fields
  • Most importantly, these two sectors will sustain even during a recession as they are the backbone of the economy 

Career options in the finance and banking sector

Apart from the well-known careers such as bank manager, financial accountant or financial risk manager, other flourishing career options are also highly rewarding. A few of such career options are, 

  • Asset Manager
  • Audit Clerks
  • Bank Teller
  • Book-Keeper
  • Business Analyst
  • Certified Public Accountant (CPA)
  • Credit Analyst
  • Equity analyst
  • Financial Manager
  • Financial Service Representatives
  • Foreign Exchange Trader
  • Internal Auditor
  • Investment banker
  • Loan Officer

Banking courses after graduation

There are bachelor’s degree courses, master’s courses, and various other diploma or certification courses available, both online and offline. 

Bachelor’s and Master’s courses

The Bachelor’s courses are available in sections such as Banking and Finance, Financial Accounting, Statistics and Business, Banking And Insurance, Commerce, etc. The respective master’s courses are available in these fields. 

The other options for a master’s degree include Financial Mathematics, Monetary and Financial Economics, or the likes of M.Voc in Banking, Stocks, and Insurance, etc. 

An MBA in finance is a game-changer. One could choose an offline course from a leading university or an equally compelling online course accredited or offered by famous universities. One such example is the NMIMS Distance MBA online course. 

Diploma and certification courses

As for the diploma certification courses, they can be short-term or long-term up to 12-18 months duration. These certification courses are niche courses that help you specialize in a specific field. Examples of such courses are, 

  • Advanced Certificate in Banking Laws and Loan Management
  • Diploma in Banking Services Management
  • Graduate Certificate in Banking Security
  • Graduate Diploma in Banking and Finance Law
  • Post Degree Diploma in Economics and Global Banking
  • PGP In New Age Banking (PGPNAB)

Regardless of the course that you choose, most of them focus mainly on banking principles, financial services principles, managing investments, investment regulations, and credit. 

The cost of these courses varies depending upon the type of course, the institution, and the specific curriculum. Certification courses are one of the best options for beginners. 

Conclusion

The future of banking and finance is technology-driven, and the graduates can expand their career options only with the help of technology-assisted courses. Analytical jobs are one of the most sought-after career options. Artificial Intelligence and Machine Learning integrated courses are also a good option. Having an MBA gives the much-needed push for the career. 

So the future of fintech and banking courses holds high regard. One must expand their horizon to get more opportunities. 

7 Reasons Why a Distance MBA is Better than a Regular MBA

Posted on by Imarticus Learning

The MBA is the most sought-after graduate management degree in the world. Employers look forward to hiring more people with an MBA degree and students are enamored with it. Every year, a huge number of professionals apply to various sorts of MBA programs.

The MBA, as a generalist degree, provides you with essential management knowledge, which means you’ll gain a holistic understanding of the company across topics such as marketing, finance, and accounting, all while developing those important soft skills and leadership skills.

No matter what your experience is, if you want to develop management skills and advance your career, then MBA is the right option; whether you want to start your own business, rise within your existing firm, move functions, industries, or locations, or all three.

What is a distance MBA Course?

An Online MBA course is usually a two-year management curriculum intended exclusively for students or individuals who are unable to take up a full-time or traditional MBA degree. A variety of colleges and private institutions offer the MBA course part-time or online.

Several private and public universities in the country are stepping forward to provide the MBA degree to students via distance learning. After earning a master’s degree in business administration in any specialization, students can apply for lucrative jobs.

 Benefits of pursuing a distance MBA program

  1. What could be better than scheduling your studies and classes according to your convenience? A distance MBA is prefixed and follows a set schedule, but you can reschedule any classes you have missed.
  2. Going to college on a daily basis while also working a full-time job can become exhausting and stressful. Aside from the conflicting academic and office schedules, it is very tiresome. In the case of a distance MBA program, however, the situation is completely different. You can access the lectures whenever you want and your time spent traveling to college can be spent studying.
  3. There are numerous types of people in a country like India who have diverse financial conditions. Not all students can afford traditional MBA programs with exorbitant tuition fees. As a result, a distance MBA is ideal for students who are unable to pay expensive tuition and are looking for a low-cost and fair option. Most colleges charge modest costs for distance MBA courses, making them accessible to students from all walks of life.
  4. After obtaining an MBA through remote education, you will be qualified for any management position in a large corporation. You will be hired according to your specialization.The position and job description are also determined by the number of years of experience you have in the industry. You can apply for a variety of positions such as project manager, manager, brand manager, product supervisor, financial analyst, professor, and many others.
  5. In a traditional college, you have no choice of online classes. However, a distance MBA requires you to study online. You also do not need to be concerned about purchasing textbooks. The institute will supply you with reading material as well as online notes that you may quickly access.
  6. You can get admission anytime as there is no stipulated time within which you need to apply for admission into a Distance MBA program.
  7. There is a lot of leeway in terms of exam timing, venue selection, and online assignment submission in an online MBA course

Conclusion

The aforementioned points clearly indicate that taking up a distance MBA course is a very good option. It gives you a good deal of flexibility along with giving you a degree to kickstart your MBA career.

Working Capital – An Interesting Perspective

Posted on by Imarticus Learning

 

Let’s dissect the terms working and capital!

First is the more obvious. Why is it working? It is because it is “currently” being used (within a year). A good example of a current asset is inventory which is obviously used up within a year or at least to be used up in the future. This also churns out more operating cash in turn.

Second is the capital. So is this the current money or cash? NO. So what is it then? Let’s get to the more often heard of capital, which is A-L=E, i.e, Assets minus the liabilities. Thus the working capital Is simply CA-CL=CE, or current equity, if I may coin such a term. So the working capital is nothing but a ‘current equity’ of sorts!

What do we mean by saying someone works really well? It means that he not only does the job well (quality) but also does it in time (quantity) as more time is available to complete many such similar tasks. Let’s understand working capital from this context.

Take a manufacturing plant like that of a car. What’s interesting to note is that the rate at which the Finished goods are manufactured has a direct bearing on the working capital. How? Imagine a car being manufactured with every value addition made being a significant one (quality—resulting in a higher value of the asset), and also if the time consumed is less (quantity) to do the series of value addition, the value chain is gonna have current assets worth much more for a given liability!

No wonder it’s called the working capital. It indicates how well it works (the value addition), and how fast it works (the time factor) to ensure it remains well within the 1 year mark to deem it ‘current’.

So I would leave this blog with a food for thought for which I look forward to interesting responses. Considering the above interpretation, so is working capital a requirement (which we so often quote as) or is it an offshoot of efficient operations?

Author Bio :
Kumar Simha is an NIT Graduate with an MBA, Finance from HULT, Boston, USA, Kumar has more than 8 years of experience across Financial services, Business management and Training.

How Does Robotic Process Automation Work?

Posted on by Imarticus Learning

With the growing need for faster and cheaper operations, companies have started adopting hybrid workforces, thus relying heavily on automation and intelligent business services. Robotic Process Automation (RPA) allows companies to make business processes more effective and efficient. 

RPA is the key to decreasing costs, increasing production, and making business processes sustain themselves. These technological changes can be seen everywhere now, ranging from automated operations to maintenance and even deployment, fundamentally not requiring human supervision anymore. 

What is Robotics Process Automation?

RPA can be simply defined as the process of automating business processes. But, what is Robotic Process Automation really? From a business point of view, RPA can be a process that fills out automation gaps and replaces the need for humans in processes that require manual action.

Robotic Process Automation is especially used for processes that are repetitive in nature, for instance, entering data, viewing documents, and transferring information or data through systems and services. RPA learns human-machine interaction and then proceeds to perform it at exceptional speeds.

 From a technological point of view, RPA uses software or programs (bots) to perform tasks in a business process. These bots are integrated into the systems directly or are built around legacy software in order to perform the tasks directly from the platform. Their function is similar to that of humans; however, RPA implemented systems are much faster and more productive.

Automated processes are also free of the risks of human errors and do not need any human intervention. RPA is further enhanced by AI. Machine learning allows bots to execute complex tasks and make decisions on their own. This enables end-to-end process automation, removing the need for human supervision entirely.

This allows companies to use their human assets for tasks that are more important or that cannot be performed by bots. To learn more about how to increase business process efficiency and how technology helps in businesses, an online distance MBA, an MBA or an online MBA course is highly recommended.

Advantages of Adopting RPA

Bots are capable of acquiring the same skills as humans and performing tasks, except that bots are far more accurate and much faster. Adopting RPA can have several benefits which are not just limited to the budget or for cutting costs. Yes, Robotic Process Automation makes way for cheaper business processes and operational costs due to removing the need for human assets in basic repetitive tasks. The best online MBA courses teach future leaders how to effectively use their human assets and efficiently use resources.

 Bots and programs are also much faster than humans, increasing the productivity of the process enormously while maintaining accuracy. Unlike humans, bots generally do not make errors, especially for fundamental repetitive tasks such as making calculations, parsing emails, logging into systems, copy-pasting, scanning documents, or migrating data. RPA can also be optimized and set up in a manner that is easy to use and offers toggles or controls to supervise the bots.

Conclusion

Companies are in dire need of automation with the number of competitors coming up in the market and with the ever-increasing demand. In order to fully cater to the demand of the growing population and the technological upgrades that come along with it, organizations must upgrade to hybrid workforces and fall upon Robotic Process Automation to fully extract the value from their businesses, research, and production.

RPA is the future and we will see it being adopted by more companies during the coming months. It is highly recommended that candidates opt for an online distance MBA or online MBA course to learn more about business processes. The best online MBA courses such as the programs offered by Imarticus cover the benefits that RPA brings to businesses in depth. 

Related Article:

Are Online MBA Degrees The MBA degrees of the Future.

 

 

Management Development Programme on Operational Risk Management

Posted on by Imarticus Learning

by Zenobia Sethna
 
Imarticus Learning held an exclusive Management Development Programme on Operational Risk Management in Mumbai on 21st and 22nd January, 2016 for senior management in Operational Risk.

This risk management course delivered an intensive, methodical and practical understanding of operational risk management in financial institutions.  At the end of the workshop, participants were equipped with world-class knowledge to develop and implement end to end global best practices, frameworks and platforms in operational risk management.

The Key Topics that were covered were:

  • Designing and implementing an effective operational risk management platform
  • Executing an operational risk assessment and measurement program
  • Capturing, reporting and investigating operational risk events
  • Producing meaningful Risk MI including KRI data and trend analysis
  • Implementing operational risk appetite
  • Best practice models and methodologies for operational risk management

The Case Studies covered in the Workshop were:

  1. A leading full service commercial and investment bank headquartered in Asia
  2. A major German bank with significant presence in Asia
  3. A major global futures exchange based out of Asia

Participants comprised a diverse mix of senior management from leading banks and financial institutions including Cognizant, Yes Bank, ICICI Bank, Deutsche Bank, HSBC, and Reliance Capital.
About the Speaker: Dr. Chakravarty’s global reputation and experience in risk trainer-profile-minmanagement and Risk control spans over 22 years and senior leadership positions in top tier international banking and financial institutions across wall street, Europe and Asia. A specialist in risk management at Bankers Trust New York (now Deutsche Bank), Bank Boston (now Bank of America Merrill Lynch) and GE Capital in the US, he was an early developer of stress testing and scenario analysis methodologies and one of the investment banking industry’s first implementers of RAROC.

Stay tuned to know more about the upcoming MDP workshops by Imarticus.

MBA Programs Evolve to Meet the Fintech Challenge!

Posted on by Imarticus Learning

Are you eager to start a career in the finance sector? Do you want to pursue a future-proof role full of surprises and challenges?

If you answered yes, then you’ve arrived at the right place. Imarticus Learning offers an MBA in Fintech with JAIN Online. The Fintech program teaches you the latest skills while providing you with a ton of advantages. The following points illustrate them better:

Learning the fundamentals

The MBA in Fintech program teaches you the vital concepts of finance including accounting, financial markets, economics, and many others. Understanding the fundamentals of finance is vital to advance your career in the Fintech industry.

MBA in fintech

MBA in Fintech

It will equip you with the skills required to solve various analytical and financial problems present in an organization. You’d know how to perform financial analysis and create reports accordingly. Fintech requires you to be adept at using technology to perform financial processes. Knowing these concepts will help you greatly in that regard.

MBA essentials

MBAs are specialized programs that prepare students for leadership roles in specific industries. The MBA in Fintech program teaches you numerous business skills and subjects that allow you to take on the challenges that come with a senior role in the finance sector.

Some of the vital subjects and courses you study in this program include organization behavior, quantitative techniques, human resources management, marketing management, entrepreneurship, Fintech in banking, and much more. Studying all of these subjects will prepare you for the unique requirements of management jobs.

You’d know how to lead a team, solve business problems, and prepare plans by leveraging the latest technologies. The MBA program would also teach you various soft skills including leadership and communication. These skills make it easier for you to handle your responsibilities and coordinate your team.

 

 

Staying ahead of the curve

This program equips you with the latest skills and technologies used in the current financial industry. Having a deep understanding of these tools and concepts will help you become a driver of innovation in the banking and finance sector. Some vital subjects that you’ll study in this program include machine learning, robotic process automation, cloud computing, cryptocurrencies, and artificial intelligence.

Knowing how these technologies work and how you can use them in Fintech will enable you to solve the existing problems present in the finance sector much more easily. It will also help you stand out among your peers as more and more companies become reliant on machine learning and other technologies.

Banks and financial institutions are already using these technologies in fraud detection, technical analysis, risk mitigation, and predictive analysis. That’s why there’s a strong demand for financial experts who are well-versed in ML, AI, and other solutions.

Thanks to Imarticus and JAIN’s affiliation with different tech companies, you’ll stay on top of the latest industry trends and will have access to the best resources. Note that this is the only program that covers the entire Fintech sector while providing you with hands-on training.

Additional advantages

MBA in Investment Banking and FintechA key highlight of this MBA program is it allows you to get an MBA online education. You can study MBA online through videos, lectures, and assignments in this project. Getting an MBA online education allows you to study without disturbing your career.

You don’t have to leave your job to pursue higher studies when you study MBA online, which is a huge advantage. That’s because a conventional MBA program would require you to visit the premises physically and wouldn’t allow you to keep your career at the same time.

Conclusion

The program has a ton of benefits. It teaches you through JAIN Online’s unique 4 Quadrants approach and offers access to JAIN Connect, JAIN Online’s exclusive alumni community. If you’re interested in finding out more about the program, go here: MBA in FinTech.

How an MBA in Banking and Finance can be helpful in the BFSI Sector?

Posted on by Imarticus Learning

The banking and finance sector, also known as the BFSI sector, is one of the largest industries in India. The assets of Indian public sector banks alone are worth $1.5 trillion in FY20.

Moreover, this industry is growing at a rapid pace. The more it will grow, the more career opportunities you will have. In this article, we will cover how completing a financial business management course can help you in building a career in this field.

How an MBA in Banking helps you in the BFSI Sector

Makes you stand out

Having an MBA in banking will benefit you greatly in standing out. Recruiters in the BFSI sector look for skilled candidates that can showcase expertise in the industry’s different subjects. Another criterion is candidates with a strong work ethic and commitment towards their profession. Having an MBA will help you showcase all of these qualities and more. It will also make you eligible for many leadership roles in the industry which you couldn’t apply for without an MBA.

You will easily stand out from candidates that don’t have an MBA or those who have an MBA specialization in another subject. Hence, you will be at a great advantage with this qualification.

Easier project management

An MBA program will teach you about the fundamental and advanced concepts of business. Its specialization in banking will help you learn about the essential subjects of the banking and finance sector, including financial accounting, analytics, fintech, and others. Possessing these skills will make it much easier for you to handle projects and measure their growth. Project management is a highly in-demand skill, and an MBA in banking will allow you to specialize in the same.

Develops leadership skills

A big reason why employers prefer candidates with an MBA to fill senior roles in their organization is that they have better leadership skills. Developing soft skills is a prominent section of an MBA program. Moreover, senior roles require professionals to have a strong grasp of different leadership skills. Some vital leadership qualities you develop during an MBA program are:

  • Problem-solving
  • Critical thinking
  • Communication
  • Teamwork

Not only will these skills make your job significantly easier but they will also allow you to grow your organization better and hence, advance your career more easily. Strong leadership qualities will help you direct your organization’s resources more effectively and pave the way for a brighter career, particularly in the lucrative BFSI sector.

Get an MBA certificate online

Completing a financial business management course can aid you significantly in accelerating your career in the BFSI sector. It helps you develop vital soft skills and become an industry leader.

In the current day and age, when there is a contagious virus spreading everywhere, the safest way to learn crucial skills like financial accounting and business management is by getting an MBA certificate online. An online course will allow you to learn from the safety of your home without going anywhere. You will be able to study safely and according to your schedule. It would also help you learn without interrupting your professional life, unlike a conventional MBA program.

Conclusion

There are many advantages to getting an MBA in finance and banking, especially when you want to pursue a career in the BFSI industry. It helps you get high-paying jobs, accelerate your career growth and become a sought-after professional. If you are interested in finding out more about an MBA with a specialization in banking, then you should go here.

Get a free 1:1 Imarticus counselling
Get a free 1:1 Imarticus counselling