Trends shaping corporate governance in 2024

Here are the five trends to watch in 2024.

1. A fraught geopolitical environment
2. The rising prominence of ESG Economics
3. Increasing shareholder activism
4. Fortifying the integration of strategy and risk governance
5. A greater focus on board culture

https://www.pwc.com/us/en/services/governance-insights-center/library/trends-corporate-governance.html

Top Corporate Governance Trends for 2024

Increasing focus on governance practices and oversight requirements will drive corporate governance trends in 2024. General counsel must facilitate discussions with the board and senior leaders to ensure the organization is rising to the challenge and adopting crucial governance frameworks.

Opportunities

Evaluating the organization’s risk control and oversight frameworks is necessary in today’s environment, where directors and officers face increasing risk of being sued for failure to meet oversight requirements.

Developing a cohesive disclosure management strategy allows the organization to adopt a consistent narrative across disclosure channels, which improves transparency, mitigates risk and increases value.

Embracing new technologies could enhance internal information-sharing practices and establish better oversight frameworks. GRC technologies leveraging generative AI have the potential to improve predictive and probabilistic risk analysis, which can aid the board in better decision making.

https://www.gartner.com/en/documents/5181663

What is corporate governance? Your 2024 guide!

Good corporate governance is the cornerstone of ethical, responsible and transparent operations while maximizing shareholder value and safeguarding the interests of other stakeholders.

As you delve into this comprehensive guide, we’ll answer the key question; what is corporate governance? In doing so we’ll explore the principles, roles, responsibilities, and emerging trends associated with good corporate governance. You’ll venture into the emerging trends shaping the landscape of governance, arming yourself with pragmatic tips and invaluable resources to navigate challenges and stay at the forefront of this ever-evolving domain.

In this guide to what is corporate governance, you’ll find:

What is corporate governance?

What are the key components of corporate governance?

What are the 5 pillars of corporate governance?

What are the typical board responsibilities?

How does corporate governance work: Models and examples

What are the emerging trends and the future of corporate governance?

https://www.imd.org/blog/governance/what-is-corporate-governance-the-ultimate-guide/

Uber in 2024: From Industry Disruption to Creating Value For All Stakeholders

This case study traces the remarkable transformation of Uber from its early innovation as a ride-hailing pioneer in a handful of cities, to the global expansion of Uber mobility services that required close attention to local operational and regulatory practices, to solving the complex technical challenges to drive Uber’s food delivery services forward. Interviews with Uber leadership reveals the strategic approach to work on the engineering, data science, product management, and product design challenges involved in building and maintaining a customer-friendly app and create an optimized user experience—and scale this on a global basis while factoring in local conditions and practices.

Key to this success was a culture reboot within Uber, and a renewed focus on collaboration and value creation for all stakeholders. The company that had found its initial footing by disrupting and transforming the taxi industry, more than a decade earlier, now faced a future where artificial intelligence and autonomous vehicles would likely disrupt the mobility sector once again—but Uber was preparing intensively for what the future might bring

https://www.gsb.stanford.edu/faculty-research/case-studies/uber-2024-industry-disruption-creating-value-all-stakeholders

From Zenith to Nadir- The Case of BYJU’s Corporate Governance Fiasco

The meteoric rise of Indian Edtech companies in India have received a jolt with the sinking of

BYJU in the empyrean of online education in India. According to one of the estimates, online

education was estimated to grow at an astounding pace that is from $2.8 Billion in 2020 to a

whopping $10.4 Billion by 2025 but it can be opined that BYJU’s debacle may exert a debilitating

impact on the fortunes of Edtech companies.

https://www.icsi.edu/media/webmodules/research_corner/BYJUCASESTUDYSEPT2723.pdf

Best Corporate Governance Practice

In this section we present our Five Golden Rules of best corporate governance practice – key concepts in embracing good corporate governance and best practices in business. Embracing these principles will mean the company’s culture and therefore public image will shine out as an example of an open, well and fairly run organisation.

The public image of a corporation will quite accurately reflect the culture of that body. It follows, then, that good corporate governance has to be in the bones and bloodstream of the organisation since this in turn will be reflected in the culture. To carry the analogy further, in the same way that healthy blood and bones are reflected in the naturally healthy look of a person, so an organisation whose internal functions are healthy will naturally look so from an external perspective.

Our Golden Rules of best corporate governance practice are like a health manual for your organisation and come with a practical diagnosis and treatment programme which we set out in our Corporate Governance Course, a series of ebooks delivered over 6 days by email. The first ebook, an introduction to corporate governance and the ACG methodology, is available free of charge – simply subscribe to this site to receive your copy (see the form at the top right of the page).

https://www.applied-corporate-governance.com/best-corporate-governance-practice/

Board Effectiveness: A Practical Approach to Corporate Governance 2024

In my board advisory role of nearly 15 years, I have interviewed, worked with and advised well over 1,000 board members, chief executive officers (CEOs) and C-suite members specifically on the topic of board effectiveness. In my experience, the most impactful board members are those who:

Bring a broad understanding of the business.

Arrive at board meetings well prepared and focused.

Have led an organization or division and executed on strategy.

Possess an understanding of business psychology and social anthropology.

Maintain a specific skill, or set of skills, while also being well rounded and able to contribute insights on a range of topics.

Challenge assumptions with respect and emotion in check.

Seek continuing education outside the boardroom.

Possess and demonstrate a strong IQ (intelligence quotient) and EQ (emotional intelligence).

Know that the reason for aspiring to be a board member is service to the organization.

I would also add that effective board members understand how visions, missions, values and goals are communicated down through an organization so that the tone from the top leadership effectively signals through all organizational levels why the entity exists and how it delivers value.

https://internationalbanker.com/finance/board-effectiveness-a-practical-approach-to-corporate-governance-2024/

The Role of Independent Directors: Navigating Challenges and Case Studies

Directorships are pivotal positions within companies and carry a set of diverse responsibilities and legal obligations. Independent directors may step into directorship positions when companies face financial and operational distress, malfeasance and fraud, and complex regulatory challenges. Independent directors also step in to provide specialist expertise, impartial oversight, and ensure corporate governance and compliance standards are maintained. In this article, we will explore the importance of independent directors and scenarios in which they may be needed, as well as specific case studies where we have taken on directorship appointments to help clients navigate these challenging situations.

https://www.perunconsultants.com/en/blog/2024/3/26/the-role-of-independent-directors-navigating-challenges-and-case-studies

Board Evaluation: Comprehensive Guide to Optimizing Board Performance

The board evaluation process is a method of assessing the board’s performance regarding the company’s objectives. The primary purpose of board assessments is to make sure that board members meet expectations, follow the company’s bylaws, and are interested in moving toward the company’s goals.

There are four main types of board assessment depending on who conducts it: self-evaluation, peer-to-peer evaluation, executive director evaluation, and independent third-party evaluation.

As a rule, board evaluations aim to assess two categories of board performance: corporate leadership and problem resolution.

An effective board assessment allows for improving the atmosphere inside the board, facilitating decision-making, highlighting opportunities for improvement, and establishing a collaborative culture among board members.

https://board-room.org/blog/board-evaluation/

Data-Driven Decision Support Systems in E-Governance: Leveraging AI for Policymaking

Data-driven decision support systems have been used more and more in e-governance as a result of the digital revolution. In order to improve the efficacy and efficiency of policymaking, this research article investigates the integration of artificial intelligence (AI) approaches into e-governance systems. Governments can access enormous volumes of data, and AI algorithms are used to analyze and extract insightful data that enables decision-making based on facts. The article emphasizes the advantages of using AI in the e-governance space while formulating policy. Decision support systems can analyze and understand complicated information by utilizing cutting-edge machine learning and data analytics approaches, revealing trends, patterns, and correlations that would be challenging for human analysts to manually find. As a result, decision-makers in government may make well-informed choices based on impartial research and data. The paper also examines the difficulties and factors to be considered when implementing AI in decision support systems for e-governance. With an emphasis on the significance of responsible AI governance frameworks, ethical issues, including algorithmic bias, transparency, and accountability are addressed. The article also explores the effects of incorporating AI into decision-making processes, including potential sociopolitical effects and the requirement for stakeholder participation and public confidence. The results of this study show how data-driven decision support systems may revolutionize e-governance policies when equipped with AI technology. Governments may enhance their decision-making processes and the outcomes of governance by using the power of big data and sophisticated analytics. This will lead to better public service delivery.

https://www.researchgate.net/publication/377100312_Data-Driven_Decision_Support_Systems_in_E-Governance_Leveraging_AI_for_Policymaking

A DSS for Boardrooms: Integrating Decision Support Systems for Effective Governance

Overview: In the complex landscape of modern corporate governance, boardrooms face the constant challenge of making quick, informed decisions that align with both strategic goals and regulatory requirements. Integrating a Decision Support System (DSS) into boardroom processes represents a transformative leap towards harnessing data-driven insights to streamline and enhance decision-making. Boardrooms with advanced tools to analyse and interpret vast amounts of data is beneficial and essential for sustaining competitive advantage and governance excellence.

https://medium.com/@arkochhar/a-dss-for-boardrooms-integrating-decision-support-systems-for-effective-governance-84a459590924

2024 manufacturing industry outlook

To help companies begin to answer this question, the 2024 manufacturing industry outlook explores the following trends:

Navigating persistent talent obstacles + Smart factory and the journey toward the industrial metaverse

Supply chain digitalization for enhancing performance and resilience + Aftermarket services as a potential differentiator + Product electrification and decarbonization + Technology is poised to play a significant role in supporting manufacturers in taking on the challenges they may face in 2024.

With a persistent search for efficiency and focus on building resilience across the organization, many manufacturers look to continue to pursue their digital transformation objectives—even as some may be considering pausing investments because of the challenging business environment. Companies seem to be embracing a smart factory approach, exploring the industrial metaverse, and investigating the possibilities of generative AI, one of the latest additions to the arsenal, as tools they can use to add value to their operations.

https://www2.deloitte.com/us/en/insights/industry/manufacturing/manufacturing-industry-outlook.html

Cost Management a High Priority in 2024

Supply chain, manufacturing, and procurement are the target areas for many cost-cutting initiatives at global companies, according to BCG.

Cost optimization, leaner corporate structure, cost efficiencies, cost cutting, resource optimization, right-sizing – – whatever it’s called, CFOs and other C-suite executives are making cost management and reduction a 2024 priority for performance improvement.

There are many reasons companies are cutting costs — uncertainty over economic growth, the high cost of capital, supply chain challenges, inflationary price increases, and more. But it boils down to years of “unexpected disruption” in market conditions and customer shifts that companies have had to adapt to by adding cost and complexity to the business, said Paul Goydan, managing partner and global leader of Boston Consulting Group’s (BCG’s) accelerated cost advantage program

https://www.cfo.com/news/cost-management-2024-cost-cuts-supply-chain-procurement-sourcing-shifting-demand-leadership/709314/

Taking AI to the next level in manufacturing

Reducing data, talent, and organizational barriers to achieve scale.

Few technological advances have generated as much excitement as AI. In particular, generative AI seems to have taken business discourse to a fever pitch. Many manufacturing leaders express optimism: Research conducted by MIT Technology Review Insights found ambitions for AI development to be stronger in manufacturing than in most other sectors.

Manufacturers rightly view AI as integral to the creation of the hyper-automated intelligent factory. They see AI’s utility in enhancing product and process innovation, reducing cycle time, wringing ever more efficiency from operations and assets, improving maintenance, and strengthening security, while reducing carbon emissions. Some manufacturers that have invested to develop AI capabilities are still striving to achieve their objectives.

https://www.technologyreview.com/2024/04/09/1090880/taking-ai-to-the-next-level-in-manufacturing/

5 Trends of Contract Manufacturing in 2024

In 2024, contract manufacturing is in the midst of a transformation. This transformation comes as a result of the evolving demands of their customers. As manufacturers are looking to adopt new technologies and improve their supply chain strategies, it leaves contract manufacturers (CM) embracing certain changes. CMs are evolving beyond their traditional role. It’s now a dynamic partnership, shaped by technological progress and the need for innovative solutions. This shift isn’t just a trend; it’s a fundamental change that’s redefining the industry.

In this blog, we will go over the five key trends reshaping CMs in 2024. From advanced automation to sustainable practices and the digital transformation of processes, each trend is a part of the goal to offer a better solution to their customers.

https://www.openbom.com/blog/5-trends-of-contract-manufacturing-in-2024

Breaking the Cost Barrier on Biomanufacturing

Are bioproducts made from precision fermentation processes—long predicted to disrupt industries from pharmaceuticals to food to chemicals—finally on the verge of achieving their potential?

Demand is solidifying. The need to achieve sustainability in manufacturing while reducing carbon emissions means that all kinds of companies need ingredients and inputs produced through biological processes. More than 4,100 of the world’s largest companies have established emissions-reduction targets, according to the Science Based Targets initiative, with more than 2,600 of them including net zero emissions commitments. The Biden Administration has set a target of producing “at least 30% of the US chemical demand via sustainable and cost-effective biomanufacturing pathways” within 20 years.

https://www.bcg.com/publications/2024/breaking-the-cost-barrier-on-biomanufacturing

Triple Challenge for China’s Manufacturing Industry in 2024

The ongoing housing market crisis, weak domestic demand and nearshoring trend pose a triple threat to manufacturing growth in China during 2024.

At the start of 2024, the outlook for global manufacturing is looking sluggish and manufacturing in China is no exception. We have found a trio of challenges in the form of the ongoing housing market crisis, weak domestic demand and the continuing trend towards nearshoring and moving manufacturing to cheaper locations are hampering exports and domestic demand, squeezing Chinese manufacturing. The latest MIO Tracker indicates that monetary and fiscal policies in China will start to take effect, with more stimulus measures anticipated. However, growth still remains weak and the forecast for China’s MIO value growth in 2024 has been revised down from 3.0% to 2.6%. This follows on from two gloomy years for China’s manufacturing industry, with growth expected to pick up from 2025.

https://www.automation.com/en-us/articles/february-2024/triple-challenge-china-manufacturing-industry-2024

18 Challenges the Manufacturing Industry Faces in 2024

Manufacturing challenges can be any obstacle that hinders operations and impedes growth for manufacturing businesses. These challenges, such as regulatory compliance, supply chain disruptions and data security, directly affect many aspects of a manufacturing business, including production rates, productivity and profitability. Manufacturers cannot overcome these challenges without first understanding the ins and outs of their business. To do so, modern manufacturers can use new technology, including sophisticated business software and automation, to increase their visibility, gain a more detailed and accurate view of operations and identify vulnerabilities and opportunities for improvements. By understanding the unique issues facing the manufacturing sector and analyzing how operations are directly affected by these challenges, business leaders can devise and implement innovative solutions to create a more resilient operation.

https://www.netsuite.com/portal/resource/articles/erp/manufacturing-industry-challenges.shtml

Smart Manufacturing: The Future of Smart Factories

Learn about innovative technologies, benefits, and future trends in this comprehensive guide to the future of manufacturing. At the heart of the fourth industrial revolution (4IR), also known as Industry 4.0, smart manufacturing is transforming modern manufacturing operations. The smart manufacturing market, predicted to grow from $223.6 billion to an impressive $985.5 billion by 2032, has led to an increased prevalence of smart factories and smart warehouses alike.

Smart manufacturing integrates advanced technologies such as the Internet of Things (IoT), automation, and artificial intelligence (AI) into existing workflows, enabling  organizations to optimize performance throughout the manufacturing lifecycle. In this article, we’ll dive deeper into the digital transformation driving the evolution and prevalence of smart factories, along with the various principles and challenges impacting smart manufacturing today.

https://www.cyngn.com/blog/smart-manufacturing-the-future-of-smart-factories

Microfactories could be the future of manufacturing.

Microfactories are small-to-medium, modular manufacturing facilities that use state of the art technology like AI to optimise their operations.

They can create significant cost, efficiency and energy savings compared to traditional factories.

While there are some businesses that have already successfully set up microfactories, some industries still need the right tools and frameworks to help them work out how to make this kind of transformation.

https://www.weforum.org/agenda/2024/03/microfactories-why-smaller-highly-automated-factories-are-the-future-of-manufacturing/

Cost Engineering Model

How to Develop and Use a Cost Engineering Model for Your Business

1. Introduction to Cost Engineering Models
2. Understanding the Importance of Cost Engineering
3. Key Components of a Cost Engineering Model
4. Steps to Develop a Cost Engineering Model
5. Data Collection and Analysis for Cost Engineering
6. Implementing the Cost Engineering Model in Your Business
7. Benefits and Limitations of Cost Engineering Models
8. Successful Applications of Cost Engineering Models
9. Tips for Effective Utilization of Cost Engineering Models

https://fastercapital.com/content/Cost-Engineering-Model–How-to-Develop-and-Use-a-Cost-Engineering-Model-for-Your-Business.html

How to leverage AI for market research in 2024: top 7 tools, use cases, and best practices.

In this article, I’ll walk you through the benefits of AI for market research, the best AI tools, the use cases we use at Predictable Innovation and concrete prompts for customer, competitor, and market research.

Imagine, as a strategist, founder, innovator, or product marketer, if you could transform internet and interview data into actionable insights in record time without tedious manual processing. Today, thanks to artificial intelligence (AI), this is possible.

AI-powered tools for market research can scrape large amounts of data on the web, perform data analysis, and deliver it through easy-to-digest formats thanks to natural language processing models, marking a new era for market research.

https://www.predictableinnovation.com/methods/ai-for-market-research

The Evolution of Pharma Market Research

In fact, advancements in AI have even made it possible to understand the context and purpose behind your search terms. The AlphaSense platform uses machine learning to expand your query, delivering the most relevant results available on your topic using Smart Synonyms™ technology. Whether it’s information about a competitor’s new products, market segmentation, customer insights, pricing benchmarks, or financial performance, market research platforms that utilize the power of AI are revolutionizing strategic planning processes, product development decisions, and investment strategy.

Organizations that transition their market research and competitive intelligence processes onto a market intelligence platform instantly gain a competitive edge, regardless of how they choose to use it.  With a modernized market research process, organizations can easily identify outcomes that matter to different stakeholder groups, gain insights to inform future business decisions, or monitor clinical pipelines with minimal effort.

https://www.alpha-sense.com/blog/trends/pharmaceutical-market-research/

A review of strategic decision-making in marketing through big data and analytics

This review paper delves into the transformative impact of big data and analytics on strategic marketing decision-making. Examining the integration of vast datasets and analytical tools in marketing strategies highlights how these technological advancements enable a deeper understanding of customer behavior, enhance product development, and provide a competitive edge. The review underscores the importance of data-driven insights in formulating personalized marketing strategies and the critical role of analytics in predictive and prescriptive decision-making. It addresses the challenges and ethical considerations associated with big data usage, emphasizing the need for robust data governance and ethical practices. The paper suggests future research directions, focusing on emerging technologies and methodologies that could further influence strategic marketing decisions. Keywords: Big Data, Analytics, Strategic Marketing, Data-Driven Decision-Making, Ethical Considerations, Emerging Technologies

https://www.researchgate.net/publication/380553340_A_review_of_strategic_decision-making_in_marketing_through_big_data_and_analytics

State of the Consumer 2024: What’s now and what’s next

Nine trends defining the global consumer market. To forecast where the global consumer landscape is heading, we surveyed more than 15,000 consumers in 18 markets that together make up 90 percent of global GDP. Their answers revealed surprising nuances about demographic groups, seemingly contradictory consumer behaviors, and categories poised for growth.

https://www.mckinsey.com/industries/consumer-packaged-goods/our-insights/state-of-consumer

What matters to today’s consumer: 2024 consumer behavior tracker for the consumer product and retail industries

In this Capgemini Research Institute report, What matters to today’s consumer: 2024 consumer behavior tracker for the consumer product and retail industries, we take a closer look at how consumer behavior is changing today and the factors that are shaping it.

We focused this third instalment of our annual research series on five broad themes around consumer behavior. What we found is that many of the trends from our 2023 report have persisted, especially with consumers continuing to express concern about their personal financial situations amid rising inflation.

Additionally, as generative AI makes headwinds across industries, its impact on consumers’ purchasing behaviors is being felt too. We look at the ways in which this technology is being used and adopted by consumers within different demographic cohorts. We also explore the increase in social commerce, as well as greater consumer concern around issues like sustainability, product origin, business practices, and more. Finally, we examine what makes for a positive shopping experience in the post-digital age. We conclude this report with key actions for brands and retailers to take in order to manage and adapt to the ongoing shifts in consumer behavior. Download the full report to find out more about how consumer behavior is evolving into the future.

https://www.capgemini.com/insights/research-library/what-matters-to-todays-consumer-2024/

10 Ecommerce Consumer Behavior Trends to Watch in 2024

In 2024, businesses that prioritize their customers’ needs and adapt to emerging trends will be the ones that thrive. This guide explores 10 key trends shaping the landscape and offers actionable advice to help you stay ahead of the curve.

From data security and Augmented Reality to sustainability and mobile-first UX, if you’re looking to take your ecommerce site to the next level this year, make sure you’re in the loop with what consumers expect.

https://www.digitalriver.com/blog/consumer-behavior-trends-2024/

40 Detailed Artificial Intelligence Case Studies

In this dynamic era of technological advancements, Artificial Intelligence (AI) emerges as a pivotal force, reshaping the way industries operate and charting new courses for business innovation. This article presents an in-depth exploration of 40 diverse and compelling AI case studies from across the globe. Each case study offers a deep dive into the challenges faced by companies, the AI-driven solutions implemented, their substantial impacts, and the valuable lessons learned. From healthcare and finance to transportation and retail, these stories highlight AI’s transformative power in solving complex problems, optimizing processes, and driving growth, offering insightful glimpses into the potential and versatility of AI in shaping our world.

https://digitaldefynd.com/IQ/artificial-intelligence-case-studies/

Consumer Behavior Research – Exploring the Depths of Consumer Insights for Strategic Business Growth

Consumer behavior research is essential for businesses seeking to understand and effectively respond to the evolving needs and preferences of their target audience. It provides valuable insights into why consumers make certain choices, what influences their purchasing decisions, and how they interact with brands. This research is crucial for developing effective marketing strategies, creating products that meet consumer needs, and enhancing the overall customer experience. By staying informed about consumer behavior trends and applying these insights, businesses can improve customer engagement, increase brand loyalty, and drive growth. In today’s competitive marketplace, a deep understanding of consumer behavior is a key differentiator, enabling businesses to create more personalized, relevant, and impactful marketing initiatives.

https://nielseniq.com/global/en/info/consumer-behavior-research/

19 best market research software tools for 2024

Of all the data your business or organization collects and analyzes, your market research metrics are some of the most important. Six out of ten marketers currently use consumer research to aid in growth and decision-making. To tap into all the available insights in your market, you’re going to need a reliable and effective market research software solution.

Whether you’re marginally satisfied with your current market research software or are venturing out to find your first software option, keep reading. In this article, we’ll share some of the best market research tools available for 2023. Based on user reviews, affordability, and efficiency, these are the top considerations your company should look into for market research software.

https://dovetail.com/market-research/market-research-software/

Digital Trends 2024: Exploring Key Digital Marketing Innovations

Digital Marketing Trends

As we forge our way into 2024, the digital landscape is undergoing profound transformations. Marketers are navigating uncharted technological frontiers and redefining how we connect, create, and consume in the process.

From the nuanced realms of AI and Machine Learning, promising unparalleled personalization and predictive prowess, to the immersive experiences ushered in by VR and AR, the future of digital marketing is here. Are you ready?

https://www.semrush.com/blog/digital-trends-exploring-key-digital-marketing-innovations/?msockid=2432eb78d54b65e439c3f9f2d44d6430

15+ Social Media Best Practices: Complete Guide for 2024

5 Social Media Best Practices for Posting

#1. Maintain Branding

#2. Experiment With Different Types of Content

#3. Choose the Best Time to Post on Social Media

#4. Use a Scheduling Tool like Publer

#5. Incorporate Hashtags and Keywords in Your Captions

Social media best practices are tips, strategies, and guidelines that can help you succeed on social networking sites. These refer to different aspects, including posting content, customer service, and marketing.

Online trends, user interest, and even algorithms can rapidly change over time, and if you want to get ahead of the competition, it’s important to stay updated. Read on as we share over 17 social media best practices for 2024 to elevate your marketing strategy and help you build a stronger online presence.

https://publer.io/blog/social-media-best-practices/

Top Decision Support System Examples across 10 Industries (2023 & 2024)

Curious about new technological advancements in the data processing sector? Explore our analysis of 834 global decision support system startups & scaleups impacting 10 industries and learn about their solutions including CDSS, climate decision support, smart transport planning, and more!

Decision support systems (DSS) provide valuable insights into business operations and aid critical decision-making. However, process digitization and the integration of connected devices increase the complexity of IT infrastructure and data processing. As a result, novel decision support system examples integrate data processing technologies like artificial intelligence and natural language processing (NLP).

We give you data-driven innovation insights based on our analysis of 834 decision support system examples so that you do not miss out on emerging solutions that improve decision-making. They allow you to improve operational throughput and enhance process visibility. Read more to explore the impact of decision support systems on 10 industries and how they advance your business.

https://www.startus-insights.com/innovators-guide/decision-support-systems-startups/

Decision Support Systems

Reliable, accurate, and actionable hazard information is key to supporting decisions, adaptation, and preparedness at all levels: communities, governments, regional organizations, development professionals, and other sectoral stakeholders.

RIMES has co-developed and operationalized several Decision Support Systems (DSS) for transforming hazard information into impact-based forecasting to aid decision-making across multiple sectors – disaster management, agriculture, transportation, energy, finance, health, and water resources being the major ones.

Decision-makers in these sectors, especially in the developing regions, are limited by technical infrastructure and human resources to effectively integrate climate and hazard information into the decision-making framework to manage risks across timescales.

https://rimes.int/dss

Decision Support System Examples: Improving Business Decision-Making

Effective decision-making is a cornerstone of success in business and organizational environments. Navigating the complexities of modern data landscapes requires tools that provide timely and accurate insights. This is where Decision Support Systems (DSS) come into play. Designed to aid managers and decision-makers, DSSs are computer-based information systems that compile data, documents, personal knowledge, and business models. They support problem identification and decision-making processes, making them invaluable in today’s data-driven world.

In this blog, we will talk about Decision Support Systems in detail. We will discuss their key characteristics, components, and various types, and provide real-world examples. Additionally, we will delve into the numerous benefits these systems offer, demonstrating their importance in enhancing decision-making efficiency and effectiveness.

https://www.nected.ai/blog/decision-support-system-examples

Next-gen Technology transformation in Financial Services

Most major financial institutions are well aware of the imperative for action and have embarked on the necessary transformation. However, it is early days—based on our experience, most are only at the beginning of their journey. And in addition to the pressures mentioned above, many are facing challenges in terms of funding, complexity, and talent availability.

This collection of articles—gathered from our recent publishing on the theme of financial services technology—is intended to serve as a roadmap for executives tasked with ramping up technology innovation, increasing tech productivity, and modernizing their platforms.

https://www.mckinsey.com/~/media/McKinsey/Industries/Financial%20Services/Our%20Insights/Next-gen%20technology%20transformation%20in%20financial%20services/Next-gen-technology-transformation-in-financial-services.pdf

Financial technology decision support systems

The financial technology industry was the first and most successful to combine machine learning algorithms based on big data with artificial intelligence techniques. The use of decision support systems (DSSs) procedures will deliver financial products, service channels, service methodologies, and risk management in the quickest and most cost-efficient manners. The deep service value chain’s high-end finance was significantly impacted by the inventive and quick development of smart artificial intelligence (AI) and machine learning (ML) techniques brought about by all of the decision-making processes. This study presents digital services, including DSS procedures utilized in financial service operations. The fundamentals of DSS approaches, as well as AI and ML, are then demonstrated, and an example application of a campaign management system for tax repayment rescheduling is provided.

https://jesit.springeropen.com/articles/10.1186/s43067-023-00130-0

Care Beyond Walls: Six Digital Trends Shaping Health Care in 2024

Emerging technologies, integrated vendor ecosystems and enhanced regulatory compliance will redefine care delivery and shape the needs of healthcare stakeholders. Following are six healthcare technology trends that will shape care delivery and the MedTech market in 2024.In the rapidly evolving healthcare landscape, a convergence of factors, including payer reform, technological advancements, scientific breakthroughs and enhancing patient-centricity, are driving unprecedented industry transformation. Stakeholders across the value chain must recalibrate their strategies by integrating advanced medical sciences amid changing utilization patterns. To add to this, the symbiosis of technology, consumerism and data are amplifying care complexities, while regulatory pressures further compel adherence to global compliance policies to address disparities and foster member engagement. To proactively adapt, organizations seek innovative technologies and models to improve the quality of care. Now, more than ever, artificial intelligence (AI) and cloud technologies are poised to reshape the healthcare ecosystem, reimagining care beyond the four walls of healthcare facilities. Personalization and digital transformation will be pivotal in determining the path ahead for independent software vendors (ISVs), medical device manufacturers, specialty providers, provider service plans (PSPs) and more. The focus is now on trends that can bolster secure high-quality care while reducing costs and dependencies in the care realm.

https://medtechintelligence.com/feature_article/care-beyond-walls-six-digital-trends-shaping-health-care-in-2024/

Best Decision Support Software

Best decision support software includes AsinSeed, AVDecision, Knowmax, TrustCheckr, and GoldSim. This software facilitates the decision-making process by helping to prioritize goals, assess options and simulate results. Decision support system (DSS) supports organizational decisions, judgments, and courses of action. A DSS analyzes large amounts of data, resulting in comprehensive information that can be used for problem-solving and decision-making.

https://www.softwaresuggest.com/decision-support-software

Best Clinical Decision Support

Clinical decision support systems (CDSS) are computer-based programs that analyze data within EHR software to provide prompts and reminders to assist health care providers in implementing evidence-based clinical guidelines at the point of care. For example, clinicians scan for risk factors, flag specific issues, and the system provides information on treatment protocols, prompting questions on medication adherence, and providing tailored recommendations for health behavior changes. Clinicians are confronted by increasing amounts of clinical data for each patient they treat as well as an exponentially increasing volume of relevant medical research. While electronic health records and databases help physicians manage this rising tide of information, patient-specific recommendations provided by clinical decision support systems can do even more by improving decision making and helping ensure patient safety. To qualify for inclusion in the Clinical Decision Support Systems category, a product must:

Analyze and visualize input data related to medical treatment decisions

Provide scenario analysis

Integrate with EHRs

Support interdisciplinary teams to reduce clinical variation, improve patient outcomes, and maximize financial performance.

Engage and share decisions with clinicians and stakeholders

https://www.g2.com/categories/clinical-decision-support

AI-Driven Clinical Decision Support Systems: An Ongoing Pursuit of Potential

Clinical Decision Support Systems (CDSS) are essential tools in contemporary healthcare, enhancing clinicians’ decisions and patient outcomes. The integration of artificial intelligence (AI) is now revolutionizing CDSS even further. This review delves into AI technologies transforming CDSS, their applications in healthcare decision-making, associated challenges, and the potential trajectory toward fully realizing AI-CDSS’s potential. The review begins by laying the groundwork with a definition of CDSS and its function within the healthcare field. It then highlights the increasingly significant role that AI is playing in enhancing CDSS effectiveness and efficiency, underlining its evolving prominence in shaping healthcare practices. It examines the integration of AI technologies into CDSS, including machine learning algorithms like neural networks and decision trees, natural language processing, and deep learning. It also addresses the challenges associated with AI integration, such as interpretability and bias. We then shift to AI applications within CDSS, with real-life examples of AI-driven diagnostics, personalized treatment recommendations, risk prediction, early intervention, and AI-assisted clinical documentation. The review emphasizes user-centered design in AI-CDSS integration, addressing usability, trust, workflow, and ethical and legal considerations. It acknowledges prevailing obstacles and suggests strategies for successful AI-CDSS adoption, highlighting the need for workflow alignment and interdisciplinary collaboration. The review concludes by summarizing key findings, underscoring AI’s transformative potential in CDSS, and advocating for continued research and innovation. It emphasizes the need for collaborative efforts to realize a future where AI-powered CDSS optimizes healthcare delivery and improves patient outcomes.

https://www.ncbi.nlm.nih.gov/pmc/articles/PMC11073764/

Successful Clinical Decision Support Systems Implementation Guide

Today, the pressure on clinical CIOs and VPs of Technology to enhance patient outcomes while optimizing operational efficiency has never been greater. The successful clinical decision support implementation stands at the forefront of this challenge, offering transformative potential yet often mired in complexity.Imagine a seamless integration where data-driven insights empower your clinical teams to make informed, timely decisions. A world where technology not only supports but anticipates the needs of both patients and providers. This isn’t a distant dream but a tangible reality within reach. Our guide delves beyond the surface, providing you with actionable strategies and insider insights to navigate the intricacies of CDSS implementation. Welcome to your roadmap for turning visionary aspirations into operational triumphs.

https://topflightapps.com/ideas/clinical-decision-support-system-implementation/

Enhancing Military Operations with Decision Support Systems

In the arena of Military Science and Research, the integration of cutting-edge technology has revolutionized decision-making processes within military operations. At the forefront of this transformation are Military Decision Support Systems, intricate frameworks designed to analyze complex data and provide critical insights to aid strategic choices in real-time scenarios. These innovative systems serve as the cornerstone of informed decision-making, leveraging advanced tools for data collection, risk assessment, and predictive analytics. As military strategists navigate the evolving landscape of warfare, the role of Military Decision Support Systems emerges as a vital component in ensuring mission success and operational efficiency.

https://mylitary.com/military-science-and-research/military-decision-support-systems/

HR Best Practices September 2024

Human Resource best practices – The first question is: what are Human resource best practices?

Best practices are a set of Human Resources Management processes and actions that work universally. In HRM research, there are two schools of thought on how to manage people. The first one is the best fit, the second is best practices. The best fit school states that to add value, human resource policies should align with business strategy. This means that HR should focus on both the needs of the organization and the ones of its employees.

The best practice school argues that there is a set of universal HR processes that lead to superior business performance. According to its proponents, there are certain bundles of HR activities that support companies in reaching a competitive advantage regardless of the organizational setting or industry (Redman & Wilkinson, 2009). We’ll skip the extensive scientific debate on the merits and flaws of each approach. With these kinds of discussions, the truth often lies somewhere in the middle. This means that the HR strategy and subsequent HR activities should be aligned with the organization’s strategy for optimum efficiency (a.k.a. strive for best fit).

https://www.aihr.com/blog/human-resource-best-practices/#:~:text=7%20HR%20Best%20Practices%20to%20Implement%20in%202024%3A,best%20practices%3A%20a%20reality%20check%205%205.%20Conclusion

Top 5 HR Trends and Priorities for 2024

Explore emerging HR trends, priorities and action steps to focus on in the year ahead. Download the HR Priorities

HR trends to expect in 2024

What are the top priorities for HR in 2024? Gartner surveyed more than 500 HR leaders across 40 countries and all major industries to identify and assess the top HR trends, priorities and expected challenges for 2024. Leader and manager development tops the list, with organizational culture, HR technology, change management and career management and internal mobility following close behind. Download this Gartner Top Priorities report to dive deeper into the 2024 priorities for HR and benchmark your function against your peers. You’ll discover: Details on the five HR initiatives that leaders are prioritizing in 2024

What’s driving these priorities and why action is so imperative for HR leaders

Recommended next steps for each priority

https://www.gartner.com/en/human-resources/trends/top-priorities-for-hr-leaders

Thriving Worldwide: 10 Key Practices for Global HR

The workplace is changing fast. Along with the changing nature of work and worker expectations, companies are also expanding internationally. To keep pace, the HR function needs to adapt. Instead of focusing solely on domestic workforces, modern HR professionals need to understand and navigate the legal and cultural nuances of different countries. Gone are the days of a one-size-fits-all approach. Global HR requires flexibility and a strong foundation in core HR practices. This includes everything from recruitment to talent management but with a global perspective. Even HR professionals in companies without international offices can benefit from a global mindset. Understanding workforce diversity and international business practices can make them more valuable assets. With this in mind, we’ve delved deep and identified 10 key practices that can empower HR professionals to navigate the exciting and complex world of global HR.

https://www.usemultiplier.com/blog/global-human-resource-best-practices

Learning & Development Report 2024

Best practices and insights from the global authority on workplace culture. Download The Full Report

Each year, we recognise organisations whose thriving workplace cultures are enabling both their people and their business to flourish. Opportunities for learning and development are a crucial element of this success, which is why we’re so thrilled to be recognising this year, for the very first time, the UK’s Best Workplaces for Development™. These workplaces offer employees the chance to better themselves, to learn new skills, and to progress within the organisation. They understand that employee development is not one-size fits all, and they actively support every single employee to undertake their own tailored journey of growth. Because of this, their people are fuelled by a sense of purpose, feel valued by their employer, and give of their best to the organisation. In turn, organisations themselves reap the many rewards of a thriving, engaged workforce.

https://uk.greatplacetowork.co.uk/development-report-2024

HR and Digital Transformation: A 2024 Comprehensive Guide

With all the digital change that we are experiencing in today’s world, the role of Human Resources (HR) is undergoing a profound transformation. But what is HR transformation? At its core, HR transformation is the comprehensive process of reinventing and redesigning the HR function within an organization, driven by the goal of creating a more efficient, effective, and strategic department. This transformation is not just about updating systems or automating processes. It’s a fundamental shift in the HR role from administrative to strategic, from isolated to integrated and from traditional to innovative. It involves leveraging digital technologies, such as AI, data analytics, and cloud-based systems to enhance HR operations and deliver a more dynamic and engaging employee experience. Let’s explore further while we look at different strategies, the benefits of leveraging technology, and the future of HR transformation.

https://www.orgvue.com/resources/articles/hr-digital-transformation-guide/

Leveraging Artificial Intelligence in Human Resource Management

In recent years, Artificial Intelligence (AI) has made significant strides, transforming industries and ushering in an era of unprecedented efficiency and innovation. From healthcare to finance, AI’s applications have been far-reaching, and one sector where its impact is particularly noteworthy is Human Resource Management (HRM). As organizations strive to navigate an era of digitization, the integration of AI in HRM has become a focal point, promising to revolutionize how businesses manage their workforce. This second edition of our research seeks to delve deeper into the dynamic intersection of AI and HRM, exploring the perspectives of global HR leaders and their experiences with AI adoption. The study aims to provide a comprehensive understanding of AI’s role in reshaping HR functions, unveiling insights beyond mere trends to offer actionable knowledge for organizations striving to stay ahead in this technological wave. The purpose of this research is multifaceted. Firstly, it aims to shed light on the current state of AI integration in HRM, showcasing the prevalent trends and challenges organizations face. Secondly, it seeks to unravel how AI facilitates efficiency, data-driven decision-making, and personalization within HR practices. By doing so, the research strives to equip organizations with valuable insights into the strategic implementation of AI, helping them harness its potential to drive innovation and elevate workforce management. As we explore AI’s impact on HRM, it becomes evident that the fusion of artificial intelligence with human resources is not merely a technological trend but a transformative journey that holds the promise of enhancing organizational effectiveness and unlocking new possibilities for talent management.

https://engagedly.com/leveraging-artificial-intelligence-in-human-resource-management/

In the spotlight: Performance management that puts people first

Performance management systems help people continuously develop—but most companies fall short of best practices. A set of defined design choices can help guide leaders forward.

In volatile times, companies are under outsize pressure to respond to economic, technological, and social changes. Effective performance management systems can be a powerful part of this response. They’re designed to help people get better in their work, and they offer clarity in career development and professional performance. And then there’s the big picture: companies that focus on their people’s performance are 4.2 times more likely to outperform their peers, realizing an average 30 percent higher revenue growth and experiencing attrition five percentage points lower. Companies that focus on their people and organizational health also reap dividends in culture, collaboration, and innovation—as well as sustained competitive performance. Today, company leaders lack full confidence in most performance management systems—despite these systems’ importance and value—citing fragmentation, the existence of informal or “shadow” systems, misalignment, and inconsistency as common challenges. What sort of systems fit the company’s needs? Should rewards focus on individual or team goals? Where are limited resources best spent?

An understanding of the four basic elements of performance management—goal setting, performance reviews, ongoing development, and rewards—provides a foundation for answering these questions and more. Of course, the right performance management system will vary by organization. Leaders who embrace a fit-for-purpose design built on a proven set of core innovations can build motivational and meritocratic companies that attract and retain outstanding employees.

https://www.mckinsey.com/capabilities/people-and-organizational-performance/our-insights/in-the-spotlight-performance-management-that-puts-people-first

Employee Performance Appraisal: Best Practices

Employee performance appraisals significantly boost both business performance and employee engagement — if you use them effectively.  That’s because, according to our 2024 State of Performance Enablement report, employees who see performance management processes as successful are more likely to feel productive, confident, and hopeful. However, nearly half (46%) of employees who don’t have access to effective performance management processes find performance reviews to be a waste of time. So how can you turn employee performance appraisals from a dreaded routine to a game-changing element of your performance management program? Learn best practices for employee performance appraisals to boost engagement and productivity.

https://www.betterworks.com/magazine/employee-performance-appraisal/

From function to discipline: The rise of boundaryless HR

The future of work requires human resources to evolve, shifting from a siloed function to a boundaryless discipline integrated with the people, businesses, and community it serves

The shift to boundaryless HR will require a new vision of HR, a new mindset, new skills, a new way of leading, and potentially new roles and organizational structures. But the payoff from the move from knowing to doing can be tremendous. HR can help create more compelling worker value propositions, improve workforce effectiveness, and move talent management closer to serving as a strategic function of the business, rather than one that is primarily operational or reactive. In addition, the work of HR professionals can be more creative and meaningful. As human performance is unlocked and measured, organizations can thrive, along with the workers, partners, and communities they reach.

https://www2.deloitte.com/us/en/insights/focus/human-capital-trends/2024/human-capital-strategy-boundaryless-organization.html

Global Talent Acquisition Insights 2024

By leveraging the latest data, industry insights, and expert perspectives, this report not only captures the pulse of the current talent acquisition landscape but also anticipates the transformative shifts that will shape the workforce ecosystem in the coming years.

DOWNLOAD NOW

https://resources.mettl.com/research/global-talent-acquisition-insights-2024/

Manufacturing Best Practices September 2024

Manufacturing in 2024 and beyond: Experience at the heart of change

Improving digital maturity by balancing operational modernization and resilience

In 2023, manufacturing underwent a tectonic shift in how businesses navigated disruption. Amid ongoing supply chain challenges, automation and AI technology integration pushed companies toward smart manufacturing, improving efficiency and productivity across multiple sectors. Plus, sustainability grabbed attention, driving a surge in eco-friendly initiatives and greener processes. With a renewed focus on achieving digital and analytics maturity for operational excellence and resilience in manufacturing, here are the top five trends to look out for in 2024

https://www.genpact.com/insight/manufacturing-in-2024-and-beyond-experience-at-the-heart-of-change

Manufacturing Operations Management Best Practices and Strategies

How a manufacturer maintains its manufacturing operations plays a significant role in its success. Manufacturing operations management is about optimizing production. Its goal is to make the best quality products at the most economical price as quickly as possible. The scope of manufacturing operations management includes production, quality control, equipment maintenance, and inventory

https://scanco.com/manufacturing-operations-management-best-practices-strategies/

The Ultimate Guide to Manufacturing Project Management: Best Practices and Strategies

How can manufacturers ensure the successful delivery of their complex projects under conditions of increasing uncertainty and a lack of required human resources? The solution lies in intelligent project and resource management. Read the article to gain insight into the specifics of manufacturing project management and learn useful recommendations on the effective orchestration of projects in the industry.

Specifics of Project Management for Manufacturing Companies

The manufacturing environment deals with creating physical products, which in turn embraces a variety of processes that should be properly managed. These processes also require human and material resources that should be utilized and administered intelligently to make sure products are created on time and within the approved budget.

https://www.epicflow.com/blog/the-ultimate-guide-to-manufacturing-project-management-best-practices-and-strategies/

Digital transformation in manufacturing

Forget smokestacks and assembly lines – the factory of the future is wired, data-driven, and humming with digital intelligence. Industry 4.0, propelled by automation, artificial intelligence, and the Internet of Things, is no longer a futuristic buzzword but a transformative reality for successful manufacturing enterprises.

From Siemens’ self-aware robots to Rolls-Royce’s engine whisperers, digital transformation in manufacturing pioneers isn’t just tweaking processes – they’re rewriting the production-line playbook, paving the way for a smarter, more agile, and customer-centric future. Prepare to witness the evolution of making things, where efficiency and innovation collide to reshape the industrial landscape through strategic digital transformation in manufacturing. A manufacturing digital transformation can lead to 30 to 50 percent reductions in machine downtime and 85% increases in forecasting accuracy. This article will explore digital transformation in manufacturing, covering its definition, the significance of digitalization in manufacturing, the transformative impact of Industry 4.0 technologies, best practices for digital transformation in manufacturing, and some notable examples of successful implementations.

https://www.walkme.com/blog/digital-transformation-in-manufacturing/

4 Key Industries Embracing Industry 4.0

Industry 4.0—also referred to as smart manufacturing, connected manufacturing, the Industrial Internet of Things (IIoT), and other monikers—has revolutionized the way companies manufacture, enhance, and distribute products through the use of new technologies.

However, not all sectors and markets are evolving at the same pace. To help both manufacturing providers and industry leaders make sense of it all, ABI Research’s Industrial & Manufacturing Markets Research provides insights, perspectives, and data related to digital maturity within individual markets and across the industry landscape. Our research illuminates drivers and inhibitors that are shaping the adoption of digital technologies across market maturity, practitioners’ investment priorities, and best practices for deploying the technologies.

ABI Research is exploring the state of Industry 4.0 in four key markets: – Automotive – Electronics & High Technology – Oil & Gas – Fast-Moving Consumer Goods

Download the whitepaper to learn more.

https://go.abiresearch.com/lp-4-key-industries-embracing-industry-4.0

Industry 4.0 for Sustainable Manufacturing, A Review

Industry 4.0 technologies, such as IoT sensors and data analytics, enable real-time monitoring and optimization of resource usage. This leads to reduced waste and enhanced resource efficiency, aligning with sustainability goals by minimizing environmental impact. The advent of Industry 4.0 has brought about transformative changes in the industrial landscape, promising unprecedented levels of efficiency, productivity, and connectivity. However, alongside these advancements, the imperative of sustainability has become increasingly paramount. This review paper explores the intersection of Sustainability and Industry 4.0, aiming to provide a comprehensive understanding of the challenges, opportunities, and emerging trends in this evolving paradigm. Additionally, it examines the role of data analytics and digitalization in facilitating sustainability-driven decision-making and resource optimization. Moreover, the review critically evaluates the environmental, social, and economic implications of Industry 4.0 adoption, addressing concerns such as resource depletion, job displacement, and ethical considerations. Furthermore, it explores innovative strategies and frameworks for integrating sustainability principles into the design, implementation, and operation of Industry 4.0 systems. Drawing on a synthesis of academic literature, case studies, and industry reports, this review identifies key research gaps and challenges that warrant further investigation. It also offers practical insights and recommendations for policymakers, industry stakeholders, and researchers to navigate the complex interplay between Sustainability and Industry 4.0, fostering a more inclusive, resilient, and sustainable future.

https://www.researchgate.net/publication/380036467_Industry_40_for_Sustainable_Manufacturing_A_Review

Virtual manufacturing in Industry 4.0: A review

Virtual manufacturing is one of the key components of Industry 4.0, the fourth industrial revolution, in improving manufacturing processes. Virtual manufacturing enables manufacturers to optimize their production processes using real-time data from sensors and other connected devices in Industry 4.0. Web-based virtual manufacturing platforms are a critical component of Industry 4.0, enabling manufacturers to design, test, and optimize their processes collaboratively and efficiently. In Industry 4.0, radio frequency identification (RFID) technology is used to provide real-time visibility and control of the supply chain as well as to enable the automation of various manufacturing processes. Big data analytics can be used in conjunction with virtual manufacturing to provide valuable insights and optimize production processes in Industry 4.0. Artificial intelligence (AI) and virtual manufacturing have the potential to enhance the effectiveness, consistency, and adaptability of manufacturing processes, resulting in faster production cycles, better-quality products, and lower prices. Recent developments in the application of virtual manufacturing systems to digital manufacturing platforms from different perspectives, such as the Internet of things, big data analytics, additive manufacturing, autonomous robots, cybersecurity, and RFID technology in Industry 4.0, are discussed in this study to analyze and develop the part manufacturing process in Industry 4.0. The limitations and advantages of virtual manufacturing systems in Industry 4.0 are discussed, and future research projects are also proposed. Thus, productivity in the part manufacturing process can be enhanced by reviewing and analyzing the applications of virtual manufacturing in Industry 4.0.

https://www.sciencedirect.com/science/article/pii/S2666764923000498

The 2024 Guide to Digital Transformation in Manufacturing

Imagine your manufacturing floor transforming into a seamless symphony of digital operations, where precision and efficiency are not just goals but daily realities. Welcome to the world of digital transformation in manufacturing, where every gear and gadget works in perfect harmony, optimized not just for speed but for strategic growth. Astoundingly, a significant leap in integrating digital technologies within manufacturing processes is expected, according to Safety Culture. This isn’t just a forecast—it’s a roadmap to revolutionizing how products are created and delivered. So, what transformative insights should you be aware of? Let’s delve into the essence of digital transformation in manufacturing with Techlocity as your guide.

What is digital transformation?

Digital transformation is more than a fancy phrase—it’s about rethinking how you use technology to run your business. It’s about making things faster but more innovative and responsive to your business needs. Imagine having all the data about your operations right when needed or predicting machine repairs before a breakdown happens. It’s about making your business not just survive but thrive.

https://www.techlocity.com/blog/digital-transformation-in-manufacturing

2024 manufacturing industry outlook

Manufacturers should continue embracing digital transformation to contribute to a competitive and resilient future and to help tackle ongoing manufacturing challenges.

In 2023, the US manufacturing industry capitalized on the momentum generated by three significant pieces of legislation that were signed into law in 2021 and 2022—the Infrastructure Investment and Jobs Act (IIJA), the Creating Helpful Incentives to Produce Semiconductors (CHIPS) and Science Act, and the Inflation Reduction Act (IRA). Together, these laws prioritize rebuilding infrastructure, advancing clean energy initiatives, and building out the domestic semiconductor industry, while also aiming to foster job growth, workforce development, and equity. By introducing an infusion of funds and tax incentives into US manufacturing across various sectors—including semiconductors, clean energy components, electric vehicles, batteries, and the constituent parts and raw materials of these products—the IIJA, CHIPS, and IRA have already spurred record private sector investment in the manufacturing industry.

https://www2.deloitte.com/us/en/insights/industry/manufacturing/manufacturing-industry-outlook.html

Digital Transformation in Manufacturing Reduces Cost, Improves Productivity

Digitization is fueling innovation in the industrial manufacturing production process, enabling firms to achieve high-quality standards without sacrificing process time. Analytics embedded in digitization are at the forefront of delivering positive commercial impact across the manufacturing value chain. One clear example of the benefits of embedded analytics is the transformation of traditional operations within the steel industry. IT infrastructure, computational power, advanced analytics techniques, and new technology deliver competitive advantage to this and other process-based manufacturing industries.

This advantage is particularly significant in secondary steel making, when the composition of steel is changed by adding or removing certain elements through dynamic metallurgical processes. During these processes, ferro alloys (FA) are added to impart specific physical and chemical properties to meet customer needs for specific grades of steel. These additions consist of various iron alloys combined with other elements such as manganese, aluminum, chromium, and silicon.

https://www.bcg.com/x/the-multiplier/digitization-in-manufacturing-reduces-costs

Marketing & Sales Best Practices

September 2024

Affiliate marketing – The Ultimate Guide

This is a complete guide to affiliate marketing.

In this all-new guide you’ll learn all about:

Basics of affiliate marketing.

Overview of payment models.

Niche identification and mastery.

Effective website creation.

SEO and CRO strategies.

So, let’s jump right in and turn these key points into your blueprint for affiliate marketing success!

https://backlinko.com/affiliate-marketing

HUL (Hindustan Unilever) Marketing Strategy 2024: A Case Study

Hindustan Unilever Limited (HUL) is India’s largest fast-moving consumer goods company, renowned for its extensive range of trusted brands across various categories. With over 35+ brands spanning 20 diverse categories, HUL has established a strong presence in Indian households, catering to the evolving needs of consumers. As a leading player in the industry, HUL’s marketing approach has been instrumental in driving its success. By implementing effective strategies, the company has consistently captured market share and maintained its competitive edge. In this case study, we will delve into the marketing strategy of HUL in 2024, analyzing the key tactics that have contributed to its continued growth and market leadership.

https://www.latterly.org/hul-hindustan-unilever-marketing-strategy/

5 Key Habits of Successful FMCG Brands

2024 has been a year of regrowth, but consumers are still facing the lingering pressures of inflation. This is driving up the costs, making it difficult for FMCG brands to maintain their profit margins. But some CPG brands are rising above the rest to gain market share and build the foundation for a stronger future. To help you better understand how they’re achieving their goals, we’ve compiled some of the key habits we’ve seen across the spectrum in an easy-to-read eBook for you.

https://nielseniq.com/global/en/insights/report/2024/5-key-habits-of-successful-fmcg-brands/

10 Best FMCG Marketing Agencies in 2024 [Full Review]

As mass markets expand and consumer demand rises, people today want their consumable products at lower prices, with quicker deliveries and wider availability—the key being convenience. This is where FMCG (Fast-Moving Consumer Goods) or CPG or (Consumer-Packaged-Goods) companies come in. Like any business, FMCG marketing is crucial. However, challenges in this sector are a little more difficult to navigate, therefore hiring a digital agency might be the best decision you can make!

But what exactly does an FMCG marketing agency do? What services do they offer? And most importantly, which are the best ones?

Today, we’re covering what you can expect from a good marketing company, the services they offer, and our review of the top marketing agencies in the world so you can find the perfect one for your brand.

https://peertopeermarketing.co/fmcg-marketing-agency/

The Anatomy Of Successful FMCG Marketing Campaigns

In the fast-paced world of FMCG (Fast Moving Consumer Goods) companies, effective marketing strategies play a crucial role in driving sales and engagement. FMCG companies operate in highly competitive markets, and successful marketing campaigns are essential for building strong brands and gaining a competitive edge.

Importance of FMCG Brand Campaigns

FMCG brand campaigns are designed to create an immediate impact and often rely on high-frequency messaging to gain top-of-mind awareness among consumers. These campaigns go beyond traditional advertising and aim to engage and connect with consumers on a deeper level by telling compelling stories, using humor, and appealing to emotions

The global FMCG market is projected to reach a staggering $15,361.8 billion, highlighting the significance of effective brand campaigns in capturing consumer attention and driving sales. These campaigns act as a platform for FMCG companies to communicate their brand story, reinforce their unique selling points, and create a consistent brand image

https://blog.osum.com/successful-fmcg-marketing-campaigns/

AI in Marketing: The Future of Smart Marketing

Enhance creativity, productivity and customer engagement by harnessing the power of artificial intelligence.

Ways to Apply Generative AI in Marketing. Download the Guide to Applying AI in Marketing

Unlock the full potential of Gen AI in your marketing function.

Realize the promise of generative AI in marketing for enhanced content delivery

By 2025, 30% of outbound marketing messages from large organizations will be synthetically generated. AI, but specifically generative AI, has the power to augment, accelerate and create new content, and transform how marketing operates. Download the guide to applying AI in Marketing to:

Explore the drivers of, and barriers to, generative AI in marketing

Unlock actionable ways to apply generative AI for enhanced content marketing and CX

Capitalize on generative AI’s potential and navigate its limitations

https://www.gartner.com/en/marketing/topics/ai-in-marketing

AI – The Current State of AI in Marketing

The use of AI in marketing has changed how businesses communicate with clients. It provides personalized client experiences and can automate repetitive tasks. According to a McKinsey study, around 75% of the value AI use cases could deliver falls across four areas, and marketing is one of these.

The Artificial Intelligence (AI) in marketing size is expected to reach $145.42 billion by 2032.

Despite AI’s potential to deliver substantial results in marketing, marketers are hesitant to fully adopt this technology. Hence, if you’re a marketer not using AI, you’re potentially missing out on the benefits of a highly transformative technology.

Let’s go over the current state of AI adoption in marketing and how marketers can benefit from it.

https://www.unite.ai/the-current-state-of-ai-in-marketing-2024/

Marketing Data Collection in 2024: Use Cases & Best Practices

Data is indispensable in  modern marketing. Companies that effectively collect, analyze and activate data see game-changing results – from substantially higher conversion rates to dramatically improved customer retention. However, to fully capitalize on data, organizations must invest significantly in robust data collection practices.

In this comprehensive 4,000+ word guide, we‘ll thoroughly explore the integral role of data in marketing today. You‘ll discover high-impact applications of marketing data, along with actionable best practices to help your organization build a winning data-driven approach.

https://www.marketingscoop.com/ai/data-collection-for-marketing/

Sales Strategies, Trends, and Best Practices in 2024

The sales team is a critical component of any successful business, driving revenue and growth. However, the sales industry is constantly evolving, with new trends, challenges, and technologies emerging all the time.

To stay ahead of the game, sales professionals need to keep up on the current best practices and strategies.

This sales industry resource will review the current state of the sales industry, sales strategies and techniques, sales tools and technologies, metrics and analytics, sales training and development, leadership and management, and the future of sales to help prepare you and your business for growth.

https://seamless.ai/customers/blog/sales/sales-strategies-trends-and-best-practices

The Ultimate Guide to Sales Analytics in 2024

Unlike marketing, sales has always been numbers driven and now with the explosion of data and computational power, sales analytics has become central to any large sales organization. Companies can take advantage of sales analytics for forecasting to performance management to increase sales effectiveness and enable sales personnel to focus on sales rather than analytics.

https://research.aimultiple.com/sales-analytics/#who-takes-care-of-sales-analytics

Thought leadership in using quant analysis September 2024

10 Best Generative AI Tools for Data Analysis in 2024

Do you want to make your data analysis even more intuitive and insightful? In the fast-paced world of technology, generative AI tools for data analysis are setting the way for revolutionary advancements. These tools use the power of artificial intelligence to not just analyze data but also to generate valuable insights into your data, opening new doors of possibility for both businesses and researchers. In this article, we’ll explore the top best generative AI tools for data analysis in 2024, discovering how they’re reshaping the way decision-making is done in a data-driven world. So if you are someone dealing with lots of locked data then this article is your key.

https://www.geeksforgeeks.org/best-generative-ai-tools-for-data-analysis/

Best Business Analytics Tools Of 2024

What are Business Analytics Tools?

Business Analytics Tools empower organizations to transform data into actionable insights. They collect, analyze, and visualize information from various sources to solve critical business problems. By uncovering trends, patterns, and correlations, These tools enable data-driven decision-making, optimizing operations, boosting efficiency, and predicting future outcomes. Key functionalities include data cleansing, transformation, and visualization through dashboards, reports, and interactive charts. Emerging features involve machine learning and artificial intelligence for predictive analytics and prescriptive recommendations. Business analysts, managers, and executives across diverse industries benefit most, particularly finance, marketing, healthcare, and retail. Limitations include data quality dependence, potential for user bias, and implementation costs. However, the overall value proposition is undeniable: These tools unlock hidden potential within data, fostering a culture of data-driven decision-making for sustainable competitive advantage. In essence, business analytics tools bridge the gap between data and knowledge, empowering organizations to navigate the complexities of today’s business landscape with confidence and foresight.

https://www.selecthub.com/c/business-analytics-tools/

7 Essential Big Data Best Practices for 2024

Big data best practices enable organizations to use data more precisely, securely, and ethically, allowing them to make better decisions, enhance operational efficiency, and maintain a competitive edge.  Enterprises that use big data best practices position themselves for long-term success in data management, scalable infrastructure, and agile development approaches. The data landscape is always evolving. To help you keep pace with those changes, here are our recommendations for big data best practices for 2024 based on emerging trends, technologies, and common enterprise applications

https://www.datamation.com/big-data/big-data-best-practices/

The Enterprise Big Data Framework

The Enterprise Big Data Framework is a structured approach that considers six core capabilities that enterprises need to consider to obtain long-lasting value from Big Data. Rooted in the scientific domain, the Enterprise Big Data Framework provides fundamental knowledge and insights into the core components of Big Data. The topics of the framework range from the technical components of setting up a Big Data architecture to the soft skills required to set up a Big Data center of excellence. By taking a capabilities approach, enterprises can grow their competencies over time, firmly embedding the practice of Big Data into the enterprise.

https://www.bigdataframework.org/

Data Cleaning: Definition, Techniques & Best Practices

Data cleaning is an essential step in business intelligence and data analysis because it validates accurate and reliable data. The accuracy of the data is vital to generate relevant information before being used in a data analysis or business intelligence (BI) process. The processed data helps businesses make informed data-driven decisions and improve business operations. Using unvalidated data can lead to inaccurate information that leads to misinformation, which can facilitate bad business decisions and faulty changes to existing processes.

https://technologyadvice.com/blog/information-technology/data-cleaning/

Data Mining in 2024: Latest Trends Reshaping Business Intelligence

According to Gartner’s research, by 2024, 70% of organizations will embed AI functionality into their BI platforms, enhancing data analysis capabilities. In the rapidly evolving world of technology, data mining has emerged as a cornerstone of business intelligence, playing a pivotal role in deciphering complex patterns and extracting valuable insights from vast data sets. As we step into 2024, the landscape of data mining continues to transform, driven by advancements in artificial intelligence, machine learning, and big data analytics. This transformation is not just a technical evolution; it’s a paradigm shift that is reshaping how businesses approach decision-making, strategy development, and customer engagement.The recent trends in data mining are characterized by an increased emphasis on predictive analytics, real-time data processing, and the integration of diverse data sources. These trends are enabling businesses to not only understand their current performance but also to anticipate future trends and behaviors. The integration of AI and machine learning algorithms has been a game-changer, automating complex analysis processes and providing deeper, more actionable insights. This automation has not only enhanced efficiency but also opened new avenues for innovation and exploration in various sectors such as finance, healthcare, retail, and manufacturing.

https://blog.emb.global/data-mining-in-2024/

Top 10 Best Practices of Data Engineering in 2024

Data is, without a doubt, the king of all business domains these days. Every business unit, including marketing, production, and finance, uses data to make significant decisions and carry out its operations. That is why every organization works towards designing and building structures for proper data storage and analysis. This process of data management is called data engineering. Companies hire experts who are well-versed in data engineering best practices and keep their data management sorted with their help. The demand for data engineers is high, and you can expect it to increase exponentially in the coming years. As per AIM (Analytics India Mag), the market is experiencing a huge projection in demand for data engineers. Different types of data engineers are broadly categorized into BI engineers, analytical engineers, data scientists, or analysts. You can enroll in a Data Science and Machine Learning online course to grab the best professional opportunities after successful completion. In this course, applicants will learn about data engineering design tools and the data engineering strategy that can bring efficiency to work.

https://www.knowledgehut.com/blog/data-science/data-engineer-best-practices

Data Warehouse Best Practices: 6 Factors to Consider

Data warehousing is the process of collating data from multiple sources in an organization and store it in one place for further analysis, reporting and business decision making. Typically, organizations will have a transactional database that contains information on all day to day activities. Organizations will also have other data sources – third party or internal operations related. Data from all these sources are collated and stored in a data warehouse through an ELT or ETL process. The data model of the warehouse is designed such that, it is possible to combine data from all these sources and make business decisions based on them.

https://hevodata.com/blog/data-warehouse-best-practices/

Scaling gen AI in banking: Choosing the best operating model

Generative AI (gen AI) is revolutionizing the banking industry as financial institutions use the technology to supercharge customer-facing chatbots, prevent fraud, and speed up time-consuming tasks such as developing code, preparing drafts of pitch books, and summarizing regulatory reports.The McKinsey Global Institute (MGI) estimates that across the global banking sector, gen AI could add between $200 billion and $340 billion in value annually, or 2.8 to 4.7 percent of total industry revenues, largely through increased productivity.1 However, as banks and other financial institutions move to quickly implement the technology, challenges are emerging. Getting gen AI right can potentially unlock tremendous value; getting it wrong can lead to complications. Companies across industries face gen AI risks, including the generation of false or illogical information, intellectual property infringement, limited transparency in how the systems function, issues of bias and fairness, security concerns, and more.

https://www.mckinsey.com/industries/financial-services/our-insights/scaling-gen-ai-in-banking-choosing-the-best-operating-model

The Role of AI in Hospitals and Clinics: Transforming Healthcare

As healthcare systems around the world face challenges such as escalating costs, limited access, and growing demand for personalized care, artificial intelligence (AI) is emerging as a key force for transformation. This review is motivated by the urgent need to harness AI’s potential to mitigate these issues and aims to critically assess AI’s integration in different healthcare domains. We explore how AI empowers clinical decision-making, optimizes hospital operation and management, refines medical image analysis, and revolutionizes patient care and monitoring through AI-powered wearables. Through several case studies, we review how AI has transformed specific healthcare domains and discuss the remaining challenges and possible solutions. Additionally, we will discuss methodologies for assessing AI healthcare solutions, ethical challenges of AI deployment, and the importance of data privacy and bias mitigation for responsible technology use. By presenting a critical assessment of AI’s transformative potential, this review equips researchers with a deeper understanding of AI’s current and future impact on healthcare. It encourages an interdisciplinary dialogue between researchers, clinicians, and technologists to navigate the complexities of AI implementation, fostering the development of AI-driven solutions that prioritize ethical standards, equity, and a patient-centered approach.

https://www.ncbi.nlm.nih.gov/pmc/articles/PMC11047988/

What’s the latest in the world of human resources management? And what is its future??

People analytics, HR tech stack, AI, inclusivity, workplace community, wellbeing, and social mentoring are some of the biggest trends to look out for in 2024. https://mirro.io/blog/hr-trends-2024/

In 2023, business leaders and organizations continued to contend with major shifts affecting the workplace, including the pressure of inflation on both employer and employee budgets, the emergence of generative AI (GenAI), geopolitical turmoil, a series of high-profile labor strikes, increased tension over return-to-office (RTO) mandates, a shifting legal and societal landscape for DEI initiatives, the increased impact of climate change, and more. As we look toward 2024, we can expect disruption to continue. Gartner research has identified nine trends that will shape work in the next year. https://hbr.org/2024/01/9-trends-that-will-shape-work-in-2024-and-beyond

This year’s Global Talent Trends study draws on insights from 845 C-Suite executives, 1920 HR leaders, 9449 employees and 84 investors from across 17 geographies and 16 industries. Their input defined the four trends that are shaping the People agenda in 2024: Drive human-centric productivity

Solve the productivity equation with AI, assessment and work design , Anchor to trust & equity

Foster a climate of trust through fair pay, equity, and inclusion, Boost the corporate immune system

Build resilient cultures with teams that are risk aware and healthy at the core, cultivate a digital-first culture- an adaptive, digitally fluent organization where people can thrive. https://www.mercer.com/insights/people-strategy/future-of-work/global-talent-trends/

In this blog post, we’ll discuss some of the most recent trends in HRM that every small business owner, entrepreneur, and HR manager should be aware of. We will also provide some tips on how you can implement these trends in your own workplace. From the impact of AI to the rise of remote work, these trends will shape the future of the HR field.

Recent Trends in HR Management

Hybrid Working, Flexible Working Hours, Day Care Facility for Employees’ Kids, Emphasis on Employee, Experience, Upskilling Employees with Continuous Learning, Data-Based Predictive Analysis, Promoting Diversity, Equity, and Inclusion, Employee Wellness Programs, Use of AI in HR Recruitment Through Multiple Channels, Emphasis on Retention, Powerful Internal Communication360 Degree Performance Management, Ergonomics of the Workplace. Here are some of the latest trends and emerging issues of HRM that companies must consider while updating and drafting their work policy. These are extremely important for small businesses, startups, tech companies, and emerging industries. https://www.techjockey.com/blog/recent-trends-in-hrm

In the past, people management primarily pertained to human resources teams, says Stacey Harris, chief research officer and managing partner at Sapient Insights Group. “But over the past three to four years, it has really shifted to an enterprise-leader conversation,” she says.  Why? The competitive labor pool is one reason, Harris says, making top-notch company culture and workforce management a key differentiator for talent–and thus a crucial focus for leaders.  But leaders today are also facing transformations in the world of work, from emerging technologies to evolving hybrid schedules, that are affecting their workforce’s operations and satisfaction–and could, as a result, impact their company’s overall success.  So, staying on top of developments in the people space is key. Looking ahead to 2024, here’s what trends experts say business owners might expect to see in the new year–and how they should prepare: https://www.inc.com/sarah-lynch-/hr-experts-predict-biggest-people-culture-trends-for-2024.html

What’s the latest in the world of manufacturing management?

Manufacturers rightly view AI as integral to the creation of the hyper-automated intelligent factory. They see AI’s utility in enhancing product and process innovation, reducing cycle time, wringing ever more efficiency from operations and assets, improving maintenance, and strengthening security, while reducing carbon emissions. Some manufacturers that have invested to develop AI capabilities are still striving to achieve their objectives.https://www.technologyreview.com/2024/04/09/1090880/taking-ai-to-the-next-level-in-manufacturing/

This series of three articles will explore: (1) the current status of global manufacturing, with a particular focus on (2) what AI looks like among today’s leading manufacturers, and (3) the capabilities they have built to deploy it with both speed and scale. In this first installment, we’ll explore how the maturity of AI marks a 4IR inflection point; examine how leading manufacturers are redefining the leading edge of manufacturing with this technology; and finally, consider three types of strategic responses—to innovate, to accelerate, or to follow fast—that manufacturers will need to consider as industry becomes more competitive. The second and third articles, respectively, will focus on the at-scale impact of AI within the manufacturing sector and the essential capabilities that drive AI adoption. https://www.mckinsey.com/capabilities/operations/our-insights/adopting-ai-at-speed-and-scale-the-4ir-push-to-stay-competitive

A precursor to machine connectivity is ensuring that operations are stable by confirming that the fundamentals of standard manufacturing processes are working and can be executed repeatedly. Once this is in place, you can look at how machines connect with one another. The machines in a factory–and machines in factories in different locations–must be able to collect data from their environments, analyse it and connect with other machines to share that data and turn it into actionable insights.In addition to machines, data can be collected from people and processes, varying from numerical and video data to sensors and shift times of line operators. Much of this data is already being collected, but forward-looking companies can invest in AI models to make better, real-time decisions with existing data.  Think of machine connectivity as a nervous system. Nerves extend to all parts of the body and transmit signals back and forth. The machines in a manufacturing ecosystem represent body parts, but if the nerves stop transmitting data to the brain (or to your factory’s digital backbone), then that data will not be analysed properly or acted upon in real-time. https://www.automation.com/en-us/articles/february-2024/advanced-technologies-transforming-manufacturing

As we venture into the new year, the manufacturing industry stands on the brink of significant change. The year ahead promises to be a time of innovation and evolution as manufacturers adapt to a new set of challenges and opportunities. From advanced technologies like generative AI and automation to a heightened focus on sustainability and supply chain resilience, the data and analytics technologies and initiatives shaping the next year will be transformative. In this exploration of the manufacturing trends of 2024, we will delve into the key drivers and developments that will define the industry. Let’s dive into the promising horizons and discover what’s in store for the manufacturing sector in the upcoming year. https://wavicledata.com/blog/manufacturing-2024-key-data-analytics-trends/

The Fourth Industrial Revolution (4IR), also known as Industry 4.0, is a new era of development in which digital, physical and biological systems converge, fundamentally transforming industries, economies and societies.  Klaus Schwab discusses how emerging technologies like artificial intelligence (AI), the Internet of Things (IoT) and robotics have begun to merge with the physical, digital and biological worlds and, thus, have revolutionized economies, industries and societies in the process.   In this video, discover how the 4IR is transforming the world: https://www.interaction-design.org/literature/topics/the-fourth-industrial-revolution

What’s the latest in the world of marketing management?

Our Marketing Trends 2024 have been sourced from across Kantar. We look at macro and micro trends for marketers to consider as part of their brand growth journey, and how they might suit their own objectives. From insights to behaviour, from culture to data, we cover some of the key trends that we see emerging and growing over the next year. https://www.kantar.com/campaigns/marketing-trends-2024

AI’s quickly becoming the ultimate marketing assistant, but still faces adoption barriers like job security concerns, brand reputation, and lack of knowledge around how to use it. Social media apps could drive higher ROI than ever in 2024 as they evolve into frictionless e-commerce platforms. Video-centric apps like TikTok, Instagram, and YouTube will see the most growth in 2024, though Facebook’s still the most used and ties with Instagram for highest ROI. Short-form video offers the highest content ROI and will earn more investment than all other formats. Marketers will turn to social media targeting, first-party data, and AI tools to reach audience after Chrome’s third-party cookie phaseout. https://blog.hubspot.com/marketing/hubspot-blog-marketing-industry-trends-report

This article explores the latest trends, from immersive experiences to strategic use of social media, influencers, and cutting-edge technologies like VR, AR, and AI. Experiential marketing now goes beyond visuals, incorporating smell, touch, and sound for lasting emotional connections. Brands, with a forward-thinking approach, showcase resilience and innovation in navigating the competitive landscape. https://blog.theexperientialnet.com/top-13-experiential-marketing-trends-to-watch-in-2024

It’s no secret that Gen Z is majorly invested in the content they’re viewing on social media. According to an ICSC study, 85% of Gen Z says social media impacts purchase decisions, proving that much of this generation uses social media for the entire shopping process, from product discovery to purchase. Brands that are acknowledging this shift are progressively embracing social commerce. Gen Z’s inclination toward these platforms is driven by several factors, such as their growing spending power, online behaviors, shopping preferences, and personal views. To effectively target this demographic, prioritize having a strong social media presence on platforms like TikTok and Instagram. Here are several tips for strengthening your brand’s social media presence: https://www.adroll.com/blog/trends-and-tips-to-elevate-your-2024-marketing-strategy

It should come as little surprise that marketers are using AI in every facet possible, from content ideation to research and beyond. The growth and change of AI shows no signs of slowing down, so it goes without saying that marketing use cases for AI will shift significantly in the coming months and years as well. That’s why today, we’re exploring the top AI marketing trends of 2024. *Improved AI marketing automation *More capable chatbots *More use of predictive analytics* Improved research and decision-making *Continued adoption of voice-based shopping *More use of multimodal AI. https://www.wordstream.com/blog/ai-marketing-trends-2024

The good news is next year will bring helpful innovations. Industrial marketers will have more ways to personally engage potential clients. Things like partnering with influencers and sharing insightful content will be more common. Companies that embrace these emerging trends early on will have an advantage. Those who stick to rigid old methods risk struggling. The key takeaway is simple: stay flexible. Keep learning about and integrating fresh ideas. This positions industrial brands to better connect with audiences and drive results in our rapidly evolving world. Doing so means staying resilient and competitive. https://altitudemarketing.com/blog/industrial-marketing-trends-2024/

What’s the latest in the world of SMAC (social media, mobile, analytics, computing)?

Keeping up with all the emerging social media trends can be easy if you use the right tools. Using social listening and social media analytics tools can ease your work, helping you discover emerging trends. Make sure you plan your social media strategy ahead, but be flexible when it comes to rethinking or introducing the latest trends into your calendar. Your audience will be ready to engage more and turn into a loyal community. https://www.socialinsider.io/blog/social-media-trends/

Technology is becoming human by design, and enterprises that prepare now will win in the future. How people access and interact with information is radically changing as human-like, AI-powered chatbots synthesize vast amounts of information and provide answers and advice. *AI is starting to reason like us, and will soon comprise entire ecosystems of AI agents who will work with one another and act for people and organizations alike. *A new spatial computing medium is emerging, letting the digital world reflect what it means to be human and in a physical space. *The challenge of tech not understanding us and our intent is disappearing: machines are getting much better at interacting with humans on their level. https://www.accenture.com/us-en/insights/technology/technology-trends-2024

Data analytics is about transforming unstructured data into actionable insights to enhance customer understanding, product features, business operations, and strategic decision-making, ultimately driving growth and user satisfaction. Let’s explore each of these data analytics trends to understand how they can be leveraged in your company: https://userpilot.com/blog/data-analytics-trends/

Artificial intelligence and data science became front-page news in 2023. The rise of generative AI, of course, drove this dramatic surge in visibility. So, what might happen in the field in 2024 that will keep it on the front page? And how will these trends really affect businesses? https://sloanreview.mit.edu/article/five-key-trends-in-ai-and-data-science-for-2024/

The landscape of data science is evolving at an unprecedented pace, fundamentally reshaping industries worldwide. This year is set to witness a surge in innovative trends in big data analytics, each carrying transformative potential. From AI-driven predictive analysis to advancements in machine learning and the integration of Internet of Things (IoT) data, these trends are not just technological shifts but catalysts for comprehensive industrial transformation. The insights gained from big data are now more critical than ever, driving decision-making processes and strategy formulation across sectors. This article delves deep into the heart of these developments, exploring how they are set to redefine the boundaries of data science and its application in various industries, marking 2024 as a pivotal year in the realm of big data analytics. https://industrywired.com/data-science-trends-shaping-2024-the-future-of-big-data-analytics/

In the current situation, we are witnessing a highly developed and thoroughly researched form of data science that is rapidly growing and impacting every industry possible. It has significantly propelled technological advancements and exponentially boosted data production. The fusion of human ingenuity with the power of artificial intelligence and machine learning has unlocked a world of possibilities. With the remarkable advancements in data science, we can forecast upcoming trends, identify patterns, and foresee future actions. https://www.odinschool.com/blog/top-data-science-trends-and-challenges-2024

Instead of bringing data-driven ideas to life, we were hardcoding SQL statements, wading through technical debt, and sitting on silos of fragmented data—unable to extract timely insights. The powerful experts were left to tell a blessed version of the truth. While we’ve experienced bursts of progress, the dream of truly democratized data remained elusive. But Generative AI (Gen AI) has sparked the rebirth of our industry, breaking down technical barriers and firmly placing your business, people, and ideas at the center of data and analytics. https://www.thoughtspot.com/resources/ebook/data-analytics-trends-2024