Social Media Messaging Market – Global Industry Analysis, Forecast 2016 – 2023

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Social Media Messaging Market: Overview Social media messaging is a communication medium integrated with social networking platforms. Social media offers a platform to share information, news, and tr…

Social Media Messaging Market: Overview

Social media messaging is a communication medium integrated with social networking platforms. Social media offers a platform to share information, news, and trends with your connections across the globe. Social media messaging is an instant messaging service which helps to connect with the people including friends, colleagues, and others in a better way than conventional messaging. In social media messaging services, message can be presented in multiple formats including, text, voice, photos, and videos.

Currently, companies are primarily focused on social media messaging services to advertise their products and increase brand awareness. In addition, social media messaging provides a platform for lifelogging, payments, gaming, media, and other services.

Social Media Messaging Market: Trends and Growth Propellers

In the past decade, communication has changed from conventional text to multimedia messaging. The increasing internet penetration plays a key role in the rapid growth of social media messaging. The penetration of various messaging services is increasing over the time due to advancement in mobile data network technologies such as 4G, and 5G provided by internet service providers.

Furthermore, the cost of social media messaging is much lower than conventional messaging services provided by mobile operators. Thus, a consumer prefers social media messaging service over conventional messaging. In addition, companies are using social media messaging services to increase brand awareness about their products and services.

Governments across the world focus on monitoring social media messaging services to keep track of erupting political movements, crises, and epidemics in unlawful activities. Likewise, social media messaging companies are introducing innovative design, and transformation in messaging platforms to increase the adoption. These factors are expected to drive social media messaging market over the forecast period. However, increasing inappropriate messages, and false information are affecting the transparency of the social media messaging. Furthermore, lack of internet penetration and unavailability of technology in a number of developing regions is expected to impede the growth of social media messaging.

Social Media Messaging Market: Segmentation

The social media messaging market is segmented by platform, message type, age group, and geography. By platform type, the social media messaging market is segmented into web application based, and mobile application based messaging. By message type, this market is segmented into instant messaging, and non-instant messaging. Based on the use of social messaging, social media messaging market is segmented by age group into 18 – 29, 30 – 49, and above 50.

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On the basis of geography, the social media messaging market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. Among these regions, North America and Europe have been witnessing high growth in the social media messaging due to high internet penetration, improved mobile technologies such as 5G, and adoption of social media platforms.

However, Asia Pacific and Middle East & Africa are expected to see large scale adoption of social media messaging in the coming years. This is primarily due to increasing awareness of social media messaging applicationsArticle Submission, and adoption of social networking platforms and services led by slow but steady growth in internet penetration.quickmove

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Global Cognitive Computing Market 2016

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Intense Research releases a new market research report “Global Cognitive Computing Market (Technology, Application, End User, Deployment Type and Geography) – Size, Share, Trends, Company Profiles, Demand, Insights, Analysis, Opportunities, Segmentation and Forecast, 2014 – 2020” to add to its collection of research reports.

Cognitive computing processes extraordinary volumes of complex data and dramatically enhances the productivity levels in enterprises.Cognitive computing is considered as a next-generation system that interacts in human language and helps human experts to make better decisions by understanding the complexity of big data. Cognitive computing can process human language, unstructured data and can even self-learn by experience and perform tasks similar to the ones done by humans. In the current scenario, big data is increasing due to digitalization and most of the data is received in unstructured form such as images, videos, natural language and symbols. Cognitive computing, with the help of different technologies such as natural language processing, machine learning and automated reasoning, translates unstructured data to sense, and infers and predicts the best solution. Cognitive computing is majorly used in BFSI, healthcare, security, and retail applications. Increasing volume of unstructured data and advancements in technology largely drive the cognitive computing market. Cloud based technological advancements, development of innovative hardware and software systems and cognitive experience interfaces would further create opportunities for the cognitive computing market.

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The market for cognitive computing is segmented on the basis of technology, applications, end user, deployment type and geography. Natural language processing technology accounted for the maximum revenue share in 2014 and this segment would continue to dominate during the forecast period (2015–2020). Natural language processing and machine learning have generated nearly 44% and 30% of the revenue respectively, in 2014. Retail and security would be the fastest growing application segments registering CAGR of 35.8% and 36.5% respectively, during the forecast period.

The key players in the market are acquiring specialized technology companies to gain technical expertise in order to develop innovative solutions. In March 2015, IBM acquired AlchemyAPI, one of the leading providers of scalable API services and deep learning technology, which would aid the development of IBM’s next generation cognitive computing applications. In Jan 2014, Google acquired the cognitive computing start-up DeepMind with the aim to integrate DeepMind’s NLP technology into its core search product for better understanding the queries written in a natural language.

Key players of the cognitive computing market are IBM Corporation, Google Incorporation, Microsoft Corporation, Nuance Communications Inc., 3M, Hewlett Packard (HP), Statistical Analysis System (SAS), SAP, Tibco Software and Oracle Corporation.

Get Full Table Of Content (Index) Of Cognitive computing Market: http://www.intenseresearch.com/market-analysis/global-cognitive-computing-market-technology-application-end-user.html#table-of-content

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Competence What a hell is that thing in todays world

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Competencies comprise the knowledge, skills, values and attributes demonstrated through behavior that results in competent and superior performance. Competency describes what superior performers actually do on a job that produces superior results.

CHARACTERISTICS OF COMPETENCY

Motives: things a person constantly thinks about or wants which result   in action

Traits: physical characteristics and consistent responses to situation or information

Self-concept: a person’s attitudes, values, or self-image

Knowledge: information that a person has in specific content areas

Skills: the ability to perform a certain mental or physical task

 

CLASSIFICATION OF COMPETENCY

  • Threshold competencies
  • Differentiating competencies
  • Behavioral competencies

 

  • Threshold competencies

               The characteristics required by a jobholder to perform a job effectively are called threshold competencies. E.g. for the position of a typist it is necessary to have primary knowledge about typing, which is a threshold competency.

  • Differentiating competencies

The characteristics, which differentiate superior performers from average performers, come under this category; such characteristics are not found in average performers. E.g. knowledge of formatting is a competency that makes a typist to superior to others in performance, which is a differentiating competency.

  • Behavioral competencies

These refer to competencies that are required by people in terms of behavior. E.g. team working-the competency required by an employee working in a typing group in an office where they may be required to cover up for others as the work grows.

Classification of Competencies

Competencies can broadly be classified into two categories –

 

  • Basic competencies
Competencies = Basic Competencies + Professional Competencies
  • Professional competencies

 

Types of Basic Competencies

  1. Intellectual Competencies: Those which determine the intellectual ability of a person.
  2. Motivational Competencies: Those which determine the level of motivation in an individual.
  3. Emotional Competencies: Those which determine an individual’s emotional quotient.
  4. Social Competencies: Those that determine the level of social ability in a person. It has been proved by various scholars that all individuals have competencies. Only the combination and degree of these competencies differ from individual to individual. Hence, organizations have to identify the critical basic competencies required for individual employees to deliver their best in their organization. The importance of mapping the competencies proves critical for organizational success.

 

Types of professional competencies

Optimizing career prospects: this competence involves the ability to envision future opportunities, and having determined broadly defined goals, to create and make own chances. It represents a form of well – considered opportunism. To undertake optimizing process successfully, a particular set of skills and behavior need to be brought into play.

Career Planning – Plying to your Strength: In career planning of employees, four steps are involved. They are

  • Review how for their work are using their skills and satisfying their needs and interests.
  • Identify the own development needs and what is required for effective performance.
  • Obtain data from the experience of mentors, partners and other work colleagues
  • Anticipate future changes and prepare for job opportunities that might arise.
  • The development of career planning competence should go some way to help individuals to take ownership and management of their own career development

Engaging In personal Development: employers are no longer guarantee life long continuity of employment or upward career progression. Therefore, more attention is to be paid to personal development rather than career development alone. The forms of personal development vary, but the range I s increasing. For this purpose firstly, employee need to have a sufficient self awareness to review and identify their development needs. Secondly they need to be effective learners with a positive attitude towards the learning process. Learning seldom happens in a vacuum; it takes place in a social context and those in the workplace may need to gather around them a supportive network in order to understand personal development activity of a challenging nature.

Balancing work and Non-work: the concern to balance work and non work is clearly a function of career stage. Being able to define one’s own work priorities and maintain one’s motivation in the absence of externally defined checks on performance become increasingly important. The issue of balancing work and non-work is problematic because of the competing demands of work and personal life. The competence to balance work and nonworking is required by all those in the workplace because the relationship between the two is never static, but ever changing.

COMPETENCY MAPPING

 

Competency Mapping is a process of identifying the key competencies for an organization and/or a job and incorporating those competencies throughout the various processes (i.e. job evaluation, training, recruitment) of the organization.

 

Models for competency mapping

A competency mapping is a description of skills, traits, experiences and knowledge required for a person to be effective in a job. There are three models in mapping the competencies described as follows:

THE ONE-SIZE-FITS-ALL COMPETENCY MODEL

This model uses the data obtained from existing job descriptions and job analysis. The data pertaining to a class of jobs, for example all sale representatives will be consolidated and key features will be identified to convert them into competency traits. The general features like organizational mission, objectives and culture related competence would be added to build a competency model for a particular type of employee.

THE MULTI JOB COMPETENCY MODEL

There are three steps in this. In the first step, Competencies required for organizational function will be identified. Secondly these competencies will be classified into technical, social, marketing, management, finance and general. In the third step, Combination of competencies will be grouped to draw a particular role like finance manager, technical manager, quality manager like wise.

THE SINGLE JOB COMPETENCY MODEL

This is the traditional, time tested and commonly used method. A position that is most important and being performed well will be identified from a class of positions (Jobs). Data will be obtained observing its incumbent while performing the job, discussing with him/ her and other related departments, past records, decisions taken by that person, formal job description etc. the data so obtained will be used to build competency model for that particular position.

MODEL OF COMMON MANAGEMENT COMPETENCIES

The availability of right quality and quantity of management competence is the key factor in business success of organisations. This realization struck many organisations during the current decade and effort made to tone up their managers. A common issue across all the organisations is, managers should be equipped with what kind of competencies. It is also a fact that managers must possess the competencies specific to their organizational need and environment. According to Andrew May there is a competence set that is applicable to all organizations and he illustrated them in his paper titled           “Developing Management Competencies for fast changing organisations”.

These are:

  1. Operations Management
  2. Managing Time effectively such as control of time scheduling and project control
  3. Planning and decision making consisting controlling planning, option evaluation and evaluation of plan performance
  4. Managing change consisting Identifying Improvement opportunities, Formulating change objective and Monitoring and evaluating change
  5. Quality management consisting quality measurement, conditions monitoring and diagnostics and systems control
  6. People Management
  7. Team leadership indicating leadership style, structured team, delegation, counseling and meeting participation
  8. Performance management consists of assessing competencies, job design and review, target setting and review , and motivation of staff
  9. Influencing others like planning process management and negotiating.
  10. Legal issues of employment that includes health and safety, recruitment and employment conditions, and industrial relations
  11. Financial Management
  12. Financial controls that includes Cost Monitoring, Financial Statement Analysis, Results preparation, and financial system awareness.
  13. Financial planning Including Investment appraisal, System development, and managing outsourcing
  14. Information Management
  15. Communication that includes Presenting Information, Selling ideas and behavior interpretation.
  16. Marketing
  17. Marketing consisting of marketing strategies
  18. Behavior competencies
  19. This includes Entrepreneurial, Creative thinking, Management synergy, Logical thinking, and Analytical ability

EQUITY AND COMPETENCY BASED PAY

Compensation

Compensation of an employee consists of mainly three components, the base wage or salary, incentives and benefits. Base wage or salary forms the basis for calculating or determining the total compensation of an employee.

There are three different concepts of wages: the minimum wage, the fair wage and the living wage. The minimum wage is the least of them all and the living wage, the highest. Minimum wage is the base wage that an employee has to be paid to fulfill his basic needs and provide basic amenities for his family. The fair wage takes into consideration the paying capacity of the employer. The living wage, which is the highest of the three, is aimed at providing a comfortable living for the employee and his family. It includes providing health, educational and social facilities. Traditional wage plans include the piece-wage plan, based on the units produced by the employee and the time-wage plan, based on the total working time of the employee. Modern wage plans include skill-based wage plan, competency based wage plan.

COMPETENCY BASED PAY

The design of most compensation programs reward employees for carrying out their tasks, duties and responsibilities. The job requirements determine which employees have higher base rates. Employees receive more for doing jobs that require a greater variety of tasks, more knowledge and skills, greater physical effort, or more demanding working conditions. However, some organizations are emphasizing competencies rather than tasks. A number of organizations are paying employees for the competencies they demonstrate rather than just of the specific task performed. Paying for competencies rewards employees to exhibit more versatility and continue to develop their competencies. In knowledge based pay (KBP) or skill based pay (SBP) systems, employees start at a base level of pay and receive increases as they learn to do other jobs or gain other skills and therefore become more valuable to the employer. For example, a power loom operates single color, two color, four color, six color and multicolor weaves. The more colors, the more skill is required of the power loom operator. Under a KBP or SBP system, the operator increases his or her pay as they learn to operate the more complex processes like four colors, six colors and multi color weaves, even though sometimes they may be running only two color weaves.

The success of the competency based pay plans depends on the managerial commitment to a philosophy different from the traditional one in organizations. This approach places far more emphasis on training employees and supervisors. Also, workflow must be adapted to allow workers to move from job to job as needed. When an organization moves to a competency-based system, considerable time must be spent identifying the required competencies for various jobs. Then each block of competencies must be priced using market data. Progression of employees must be possible, and they must be paid appropriately for all their competencies. Any limitations on the number of people who can acquire more competencies should be identified. Training in the appropriate competencies is particularly critical. Also, a competency based system needs to acknowledge or certify employees as they acquire certain competencies, and then to verify the maintenance of those competencies. Hence this type of pay system requires significant investment of management time and commitment.

 

Outcomes of Competency Based Pay System

The benefits of the competency based pay system can be analyzed under two categories

(i) Organization related outcomes and

(ii) Employee related outcomes, which are discussed below.

Organization Related Outcomes

  1. Greater work flexibility
  2. Increased work effectiveness
  3. Fewer bottlenecks of work flow
  4. Increased worker output per hour
  5. More career enhancement opportunities
  6. Increased internal supply of work force
  7. Undisturbed work flow
  8. Enhanced organizational learning

Employee Related Outcomes

  1. Enhanced employee understanding of the organizational “big picture”
  2. Greater employee self management capabilities
  3. Greater employee commitment
  4. Greater employee self enhancement
  5. Improved employee satisfaction
  6. Increased employee motivation
  7. Increased employee participation in training activities
  8. Increased individual learning
  9. Better and equipped work force
  10. Employee can withstand change in a better way
  11. With increased skill sets, employee feels confident.

 

Pay Openness

Another equity issue concerns the degree of openness or secrecy that organizations allow regarding their pay systems. Pay information kept secret in closed-systems includes how much others make, what raises others have received and even what pay grades and ranges exist in the organization.

A growing number of organizations are opening up their pay systems to some degree by informing employees of compensation policies, providing a general description of the compensation system, and indicating where an individual’s pay is within a pay grade. Such information allows employees to make more accurate equity comparisons. The crucial element in an open pay system is that managers be able to explain satisfactorily the pay differences that exist.

External Equity

If an employer does not provide compensation that employees view as equitable in relation to the compensation provided to employees performing similar jobs in other organizations, that organization is likely to experience higher turnover. Other drawbacks include greater difficulty in recruiting qualified and high-demand individuals. Also, by not being competitive the employers are more likely to attract and retain individuals with less knowledge, skills, and abilities, resulting in lower overall organizational performance. Organizations track external equity by using pay surveys.

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Hello Fire Nation!

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Hello Fire Nation,

My name is Danny Jibodh. You may not know my name but I exist t in this Blogosphere.

I am the guy who launched BLOGZYNERGY.COM.

Take a minute to clear the air and get things on the right track.

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learning and applying. I pushed beyond.

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to realize this blogging website.

As an ambitious Entrepreneur, Freelance Copy Writer and founder of Quick Move Social Media, I keep track of the most

latest stories on different subjects as they unfold in social media jungle. With other words I am continuously in touch

with the plenty plenty things to take place in the Future.

With this blogging site BLOGZYNERGY.COM I like to build a word wide audience to express thoughts and opinions regarding

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This will make a difference and help you as visitor to stay active or knowledgeable in a field or topic.

Ignite & Explode

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