A lot has been said and written about the Internet of Things (IoT) and Big Data (BD), but what is the practical application of these new concepts? So many gadgets and equipment we use daily now have sensors and trackers installed. From the smart television to radios, cars, beds, houses, tables, and heck, everything in between. Millions of cameras installed in so many streets and homes generate lots of data and these are increasingly becoming interlinked. Businesses can apply IoT in many ways: Tracking behavior Decision making powered by sensors Enhanced visibility and situational analysis Optimized resources deployment And processes…
The 10 common errors in many strategic plans
Many companies have strategic plan documents merely for showoffs. Some companies write strategic plans for compliance purposes. Others use the documents to get loans or equity. For example, a business seeking loan financing may hire any advisor to write a strategy and business plan for purposes of obtaining a loan. Once the loan is got, the document is usually parked or put in the drawer. In many companies, however, the strategic document is left to rot in the drawers because few people understand it. Many “strategic documents are written like research papers.” The documents are like literature reviews of business…
