Ms.K.Sindhuja Asst.Prof-MBA
Sankara College of Science & Commerce

         “Every once in a while, a new technology, an old problem, and a big idea turn into an innovation”

At its core, digital innovation is the application of new technologies to existing business problems and practices is a process that takes place in phases. Digitization is not, at this point confined to innovation or carefully local organizations since the client venture begins carefully.

While digital innovation trends are creating an increasingly connected world through expanded partner ecosystems, it’s also exposing businesses to an increased security risk.        Analytics has become an important part of most companies’ technology infrastructure. AI and machine learning will continue to play an important role in helping applications protect themselves.

One of the biggest new movements set to take place in the upcoming year will be the rise of runtime application self-protection (RASP): A technology that will be able to detect problems without human intervention. Free work for people is the same old thing, however, the computerized enablement  is a critical change, in light of the fact that the measure of autonomous work that is presently done on advanced stages is expanding quickly, Customer experience pioneers should build up a more profound comprehension of AI and its effect on client procurement and maintenance. In the post-digital era, a differentiated digital experience will be depend on the delivery of AI-powered products, services, and new business models.

Organizations that proactively grasp advanced development will lead the way, captivating current, profoundly versatile, and educated clients.

“When digital transformation is done right, it’s like a caterpillar turning into a butterfly, but when done wrong, all you have is a really fast caterpillar.”— George Westerman

The Rise of Augmented Reality

-Dr.K.ThirugnanaSambanthan, Asst.Professor, SIMS

“Augmented reality (AR) is an interactive experience of a real-world environment where the objects that reside in the real world are enhanced by computer-generated perceptual information, sometimes across multiple sensory modalities, including visual, auditory, haptic, somatosensory and olfactory.”

Augmented reality links the gap between the physical and digital worlds by overlaying virtual images or data onto a physical object.

Augmented Reality is expedient in

1. Healthcare
2. Military
3. Tourism
4. Games
5. Navigation
6. Aviation
7. Education etc.

In Heath care industry, a surgeon can use AR glasses during a surgical operation. AR glasses can overlay data from patient’s CT and MRI scans, such as major blood vessels, nerves and ducts, on top of the patient, and highlight them in color. This helps the surgeon to find the innocuouspath into the region that needs invasion, reducing the risk of snags and successful surgeon’s precision.

Augmented Reality is also used in Snapchat messaging applications called Lenses.  This app with top-performing community Lenses reaching billions of views on Snapchat.

Augmented Reality is used in education, it enhances the learning abilities like problem-solving, collaboration, and creation to  prepare students for the future.Through augmented reality (AR), educators can improve learning outcomes through improved engagement and interactivity.

Augmented Reality is also used in games.  Pokémon Go is an augmented reality mobile game.  This game is played by millions of people all over the world.

Augmented Reality is used in manufacturing sector, it enables workers to speed up the assembly process and improve decision-making.

The future depends on how AR is effectively used in different sectors.

HR a new Relook

Dr. Priya Kalyanasundaram, HOD, SIMS    

During this pandemic period globally it has made us to rethink, reinvent and innovate and adapt to the new environment. The businesses has started adopting a new practices to adapt to the new changing environment

Hiring Process

Online recruitment process has become a new process whether it is to job postings, selecting candidates or interview process the organizations are relying on technology in hiring a candidates for the organization. The HR team has to adapt themselves to the new technology with the changing times.

Induction

After recruitment process the employee induction process is also done virtually through interactive webinars, videos etc making an efficient online boarding process. Online interactions have created a bond between the employees and the organization.

Training and Development

The corporate has also started the training program through online like webinars, workshops, skill and development training etc. The virtual training tool has provided a way for learning and up skilling of the employees

Employee Engagement

The success of an organization depends on how to keep them connected , motivated and focused through constant interactions and learning through various rejuvenation and wellness sessions.

Workforce Flexibility

Due to Covid -19 nowadays people have started working from home . The organization are adopting various tools like online surveys, video conferencing to monitor their employee’s wellbeing and productivity at work.

Liquid Fund Schemes

Prof. S. Thilak, Assistant Professor, SIMS

Liquid funds are debt funds that are invested in short-term fixed-interest generating money market instruments. These can be treasury bills, commercial paper, and so on, which mature within 91 days. Liquid funds aim at providing a high degree of liquidity and safety of the capital to investors. The allocated proportions are as per the fund’s investment objective. This reduces the sensitivity of fund returns to interest rate changes. Liquid funds are an excellent option to park your idle money. These are low-risk havens which offer higher returns than a savings bank account. Liquid funds try to emulate the liquidity aspect of a savings bank account.

Recently due to this pandemic The Reserve Bank of India have limited their rates. Currently the repo rates in the economy for the main borrowers and commercial rates have reduced by 4%. This will lead to reduction of deposits and lending rates in banks, as a result the money yield in money market securities and short-term debt instruments is also dropped. State Bank of India is now offering 2.75% interest on its savings account and fixed deposit the interest rate is down to 4.4%. It is no different when it comes to liquid funds. One-year yields on these schemes have fallen to a range of 3.5-4 percent. Despite the low returns that can’t really swap short duration debt funds at the same time and they can’t rely on liquid funds to park short-term money. The advantage of using liquid funds over fixed deposits for very short-term parking of money is the flexibility of anytime withdrawal and one-day credit. Operationally and redeeming from liquid fund is as easy, as a click of a button allows instant redemption. The essential  need is to watch out for in times of low interest rates is allocating too much in one go.

Earlier this happenned to be careless about how much is lying in liquid fund and keep money there for a year even, now it is necessary to manage this allocation a bit more actively. Allocate amounts to be parked for 1-3 months or emergency fund sums in liquid schemes; for everything else, find an alternative. Re-evaluate what’s already parked in liquid funds and if you find that you don’t need as much money in short term funds, then move it to other schemes or investment options. Make sure that the money needed after more than six months is allocated to slightly longer duration short term funds rather than liquid funds, that will help you maximise return. Bonds with residual maturity of 3-6 months, with high credit quality are also an alternative.

DIRECT PLANS

Even within the category look for plans which can give extra bit. For large amounts to be kept in liquid funds, go for the direct plan, which can give you 10-15 bps higher return as compared to the regular option. Keep in mind that most liquid fund schemes will have an exit load for up to seven days of investment. In times when returns are low, an exit load – even if it is a small portion and only there for withdrawals of seven days or less – matters and can dent the returns.

For short-term parking of cash, don’t get adventurous

Do not take risks with your short-term funds. People may be tempted to look for higher return options or at least the possibility of it through other funds such as short-term income schemes or even high yield bond funds. However, this will not solve the purpose and short-term funds can be more volatile on daily returns as compared to liquid funds and credit risk funds are volatile.

Along with the lower interest rates in the economy, the recent brush with credit risk for the debt funds has meant even lower risk for certain categories, pulling down returns. Nevertheless, liquid funds provide a kind of flexibility along with competitive returns in the very short-term category, which is useful for working capital requirements in a personal or business portfolio. Be more nimble and active in managing this, but take care not to get too adventurous in looking for alternatives as you might end up taking on risk you don’t need.

SMART WAREHOUSING TECHNOLOGIES TRANSFORMING THE SUPPLY CHAIN

Dr.D.Sathishkumar, Asst.Professor, SIMS

E-commerce has transformed retail in an exceptional manner, influencing consumers’ expectations to find the desired products both in-store and online and purchase them with the swipe of a finger. As the advent of e-commerce brought global competition from players such as Amazon, warehouses started emphasizing omnichannel capabilities.

According to a survey by the MHI Annual Industry Report, as many as 80% of the respondents believe that digitalization includes an intelligent, efficient, and automated warehouse that has the power to disrupt the storage and warehousing industry. To support long-term growth, even membership-based warehouse clubs are striving globally for a balance between in-store operations and e-commerce.

The warehousing sector in India started as nondescript four-walled ‘godowns,’ but it has rapidly evolved into technologically equipped spaces capable of handling modern-day storage requirements. The Warehouse Automation Market in India 2020 report demonstrated that the evolution and application of advanced technologies in India like AI, Industrial Internet of Things (IoT) and Blockchain, are impelling warehouse operators to adopt automated systems.

Technologies Transforming The Storage and Warehousing Industry

1. Embracing cloud-based systems

The storage and warehousing industry can leverage these systems to create new processes to work directly in the cloud, by ensuring better customer experiences. WMS systems are considered to be the backbone of the storage and warehousing industry; getting the right system for your operations  not only double your shipping efficiency with 100% accuracy but also make directed put ways a smooth and efficient process.

• Smart Analytics and Machine Learning

To increase customer satisfaction, warehouse managers are increasingly relying on predictive analytics and AI, leveraging statistical techniques such as predictive modeling, big data, and data mining for recommending optimized inventory levels, replenishing inventory, and increasing operational efficiency as well as warehouse optimization. Walmart-owned Flipkart leverages big data and analytics for warehouse management and deploys machine learning to match their product assortment to meet evolving consumer demand.

• Embrace e-commerce

Big time retailers across the globe have been placing a greater emphasis on e-commerce and omnichannel capabilities, including developing same-day and two-day grocery delivery, rolling out buy online pick up in-store (BOPIS) services, and opening e-commerce fulfillment centers. Placing emphasis on fast delivery and keeping the inventory moving has put a lot of pressure on the storage and warehousing industry. Most Indian retailers are reshaping their strategies to compete with Amazon in India and internationally. In the international market, Costco is not only investing heavily to bolster their online presence but also focusing on enhancing fulfillment capabilities with its acquisition of a logistics company from Sears’ for $1 billion. Integrating new services like logistics has its challenges and is a time consuming process. The key is to keep the business running and ensure smooth integration.

• Hyperautomation

According to a leading analyst firm, by 2024, organizations will lower operational costs  upto 30% by combining hyperautomation technologies with redesigned operational processes. While enterprises embarking on RPA journeys showed initial signs of success, automation programs at some point reached a saturation level. The key reason for this  enterprises lacked a strategy to scale automation. Automation was seen as a tool to achieve short-term win rather than  an end-to-end automation approach. With the storage and warehousing industry, today labor is a significant expense. Optimizing labor utilization and inventory control procedures helps companies reduce their rates and remain competitive with international players. 

ETHICAL ISSUES IN HUMAN RESOURCE MANAGEMENT

Dr.S.SUNDARARAJANAssociate Professor-MBA

In today’s business world, it is evident that the ethics and phenomena in the context of ethics are at the center of the strategic management plans of organizations. Nowadays, enterprises are the entities most intensively utilizing social resources. Such Social resources are the factors of production that is essential and scare in the production of goods and services. In spite of the fact that in time morals was characterized from multiple points of view, this fields was centered around the moral standards and gauges that ought to oversee human communication. Moral goals, for example, genuineness, truth, decency are benchmarks for how individuals should treat one another.

The executives’ morals incorporate more than issues of debasement, burglary or trickiness. It is worried about the persistent clash between the financial presentation of the firm as estimated by income, expenses and benefits because of the investors and the social execution of the firm – which is increasingly hard to gauge and spoke to by commitments to workers, clients, lenders, citizenry when all is said in done. The privilege to work gets on one hand from the privilege to life, since work gives the establishment important to subsistence and then again, from the privilege to regard as the capacity to make merchandise and means through work is a significant wellspring of sense of pride for every person. With regards to present day economy warmed discussions are held around the inquiry whether the privilege to work is without anyone else’s input determinable as the privilege of every person to be offered business.

Under the states of market economy, private firms wish to assemble a compensation pay framework as indicated by the proportion among organic market of HR in the workforce. This standard, be that as it may, resists moral sense, since certain types of action are vastly improved paid than others, regardless of whether the exertion, ability and aptitudes required to seek after them are not exceptionally unbalanced. In a few exercises of HR the executives we can experience segregation.

• Recruitment and business – the forcing of conditions, for example, age or sexual orientation for work;
• Compensation – for example, giving ladies lower pay rates than men even though there is comparable use information and expert abilities;
• Professional preparing – the inconvenience of conditions for access to such programs;
• Promotion – the utilization of oppressive criteria for advancement in a management position;
• Relations between workers cheating or concealing reality all together to promote;
• Dismissals – barring a worker due to this ethnicity, sexual preference or age;
• Establishing or changing working conditions and expected set of responsibilities without the assent of the representative.

It’s the ideal opportunity for HR managers to figure out how to get proactive and create as smoke alarms for the Company that can recognize terrible individuals or cycles at a beginning phase, before they have any antagonistic effect on the association which causes unsalvageable damage. Since HR Managers are the base for an association to really begin activities, they should urge individuals to work inside the limits of hierarchical qualities and guarantee that the motivator to stand up in negative conditions is a lot higher than the impetus to stay silent, in the event of any bad behavior or offense. Thus, HR Professional could execute a prize and acknowledgment system for granting workers who have confidence in ‘Doing Things Right’.

DATA MINING IN HEALTHCARE

By

Ms. V.Vidhya

Asst. Professor

Department of MBA

Sankara College of Science and Commerce

Electronic Health Record has become a common healthcare facility in today’s scenario. With advance increase of technology in healthcare field the amount of patient data created is enormous. So the Healthcare providers focus on optimizing the efficiency and quality of their concern with use of Data mining.

Data mining is the process of extraction of usable data from the available large set of data. It involves data collection and warehousing as well as computer processing. To segment and evaluate the data the data mining uses sophisticated mathematical algorithms. It is also known as Knowledge Data Discovery (KDD). In healthcare data mining has been proved effective in areas like preventive medicine, CRM, detection of fraud and misuse of data and measuring the effectiveness of some treatments.

Measuring the effectiveness of some treatments

The application of data mining involves comparing the different sets of symptoms, causes and treatments given to the same set of patients and evaluating a possible quickest and easiest way for the same treatment. For example patients with similar disease can be compared with their drug regime and their response to the disease within the stipulated time. Based on the comparison we can formulate the treatment pattern for the same disease for future.

Detection of fraud and misuse of data

Here the normal patterns of medical claim is established and based on the same  unusual patterns are identified by insurance companies. For example by fixing up a normal pattern the insurance companies can detect any inappropriate referrals from the physicians or prescriptions from the doctors.

The data mining has its own negative effects like lack of patient data privacy. It is said that all the patient data shared in the data mining will not have any privacy. But experts say that it is worth taking risk as its benefits will help to save another life.

In India AI is playing major role to shift the see through of healthcare industry. Electronic Health Record is also gearing up to establish the patient data in huge amount. It has allowed the Physicians to share their patient data to others for betterment of the patient care and reduce the medical errors. Likewise data mining also helps to reduce the cost and improve the patient care and services. According to research by Mckinsey data mining can cut the healthcare cost upto 12-17%. The future of healthcare depends on data mining as it reduces the healthcare cost, identify the treatment plans, measures effectiveness, detect fraud medical claims and ultimately improves the patient care.

INTERNET OF THINGS

• Dr.K.THIRUGNANASAMBANTHAN, Asst.Professor, SIMS

The Internet of things (IoT) defines the network of physical objects “things” that are implanted with sensors, software, and other technologies for the purpose of connecting and exchanging data with other devices and systems over the Internet. A thing in the IOT can be a person with a farm animal, a heart monitor implant with a biochip transponder.  IOT organizational applications are in medical and healthcare (IOMT), transportation, v2x communication, Home automation etc.  IOT is also used in various fields like manufacturing, agriculture, infrastructure, environmental monitoring, Military applications (IOBT) etc.

Characteristics of IOT:

1) Dynamic & Self Adapting: IoT devices and systems may have the competence to dynamically alter with the changing contexts and take actions based on their operating circumstances, user‘s context or sensed atmosphere.

 2) Self Configuring: allowing a huge number of devices to work together to provide certain functionality.

3) Inter Operable Communication Protocols: support a number of interoperable statement protocols and can interconnect with other devices and also with infrastructure.

4) Unique Identity: Each IOT device has a exceptional identity and a sole identifier (IP address).

5) Integrated into Information Network: that allow them to communicate and altercation data with other devices and systems.

IoT is not distinct from the Internet, but an extension of it – a way of intelligently blending the real and cyber worlds. By 2050, there will be 24 billion interconnected devices such as thermostats, electric meters, streetlights, fitness trackers, water pumps, cars, elevators etc.  These IoT-enabled devices contain sensors that continuously collect and respond to data, and this vast level of data can be used to unlock new levels of astuteness.

    SOCIAL DILEMMA-CALIFORNIA PRIVACY RIGHT ACT
                                       Ms.K.Sindhuja,Asst.Prof-SIMS

“Content is fire; social media is gasoline.” –Jay Baer

Another narrative dramatization has quite recently been delivered on Netflix called “The Social Dilemma” and it is assembling a great deal of buzz. Per Netflix, “this narrative dramatization mixture investigates the risky human effect of long range interpersonal communication, with tech specialists sounding the alert on their own manifestations.”

In this blog we will talk about how Prop 24 would address a significant number of the issues that “The Social Dilemma” draws distinctively out into the open.

California Voters Decisively Approve Prop 24, the California Privacy Rights Act:

Today, the YES on Prop 24 mission reported the section of the California Privacy Rights Act, with a definitive lion’s share of Californians (56% as per the Secretary of State’s site) supporting the measure to fortify customer protection rights. The new law will give Californians the most grounded online security rights on the planet, including ensuring touchy individual data, significantly increasing fines against organizations that abuse children’s information, setting up an authorization arm for purchasers, and making it harder to debilitate protection laws later on.

Specialists accept that this broad security law will set the bar for protection rights for the remainder of the country and that government laws will take action accordingly.

“With this evening’s noteworthy section of Prop 24, the California Privacy Rights Act, we are toward the start of an excursion that will significantly shape the texture of our general public by rethinking who is in charge of our most close to home data and returning customers to the driver’s seat of their own information,” said Alastair Mactaggart, Chair of Californians for Consumer Privacy and Prop 24 support. “I’m anticipating the work ahead and the following stages in actualizing this law, including setting up a commission that is devoted to ensuring customers on the web.”

THREAT FOR DIGITAL MARKETING:

1. Protect your most personal information, by allowing you to prevent businesses from using or sharing sensitive information about your health, finances, race, ethnicity, and precise location;
2. Safeguard young people, TRIPLING FINES for violations involving children’s information;
3. Put new limits on companies’ collection and use of our personal information;
4. Establish an enforcement arm—the California Privacy Protection Agency—to defend these rights and hold companies accountable, and extend enforcement including IMPOSING PENALTIES FOR NEGLIGENCE resulting in theft of consumers’ emails and passwords;
5. MAKE IT MUCH HARDER TO WEAKEN PRIVACY in California in the future, by preventing special interests and politicians from undermining Californians’ privacy rights, while allowing the Legislature to amend the law to further the primary goal of strengthening consumer privacy to better protect you and your children, such as opt-in for use of data, further protections for uniquely vulnerable minors, and greater power for individuals to hold violators accountable.

“Google only loves you when everyone else loves you first.” –Wendy Piersall

Top 5 Countries’ GDP

Prof. S. Thilak, Assistant Professor, SIMS

GDP (Gross Domestic Product) is the total value of goods and services produced in a country. GDP is measured over specific time frames, such as a quarter or a year. GDP is an economic indicator used worldwide to show the economic health of a country. Technically, it is the sum of the gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without deductions for depreciation of fabricated assets or for depletion and degradation of natural resources.

GDP (PPP-purchasing power parity) is gross domestic product converted to international dollars using purchasing power parity rates. An international dollar has the same purchasing power over GDP as a U.S. dollar has in the United States. Purchasing power parities (PPPs) are the rates of currency conversion that eliminate the differences in price levels between countries. Here are the top five countries’ GDP that has been listed below.

• United States

U.S. Nominal GDP: $21.44 trillion – U.S. GDP (PPP): $21.44 trillion

The U.S. has retained its situation of being the world’s biggest economy since 1871. The extent of the U.S. economy was at $20.58 trillion in 2018 in minimal terms and is expected to reach $22.32 trillion in end of 2020. It is regularly named as a financial superpower and on the grounds that the economy constitutes nearly a one fourth of the worldwide economy with supported advanced infrastructure, technology, and an abundance of natural resources.  In 2019,  GDP (PPP), was at $21.44 trillion and is expected to reach to $24.88 trillion by 2023.

2. China

China Nominal GDP: $14.14 trillion – China GDP (PPP): $27.31 trillion

China has encountered exponential development in recent years, breaking the barriers of a centrally-planned closed economy to evolve into a manufacturing and exporting hub of the world. In 1980, China was the seventh-biggest economy, with a GDP of $305.35 billion, while the size of the U.S. at that point was $2.86 trillion since 1978. The Asian monster has seen a monetary development averaging 10% yearly. The IMF extends a development of 5.8% in 2020, which would directly fall around 5.6% by 2023. In 2018, the Chinese GDP in ostensible terms remained at $13.37 trillion, lower than the U.S. by $7.21 trillion. In 2020, the hole is relied upon to diminish to $7.05 trillion, and by 2023, the distinction would be $5.47 trillion. Regarding GDP in PPP, China is the biggest economy, with a GDP (PPP) of $25.27 trillion. By 2023, China’s GDP (PPP) would be $36.99 trillion. China’s enormous populace cuts down its GDP per capita to $10,100.

3. Japan

Japan Nominal GDP: $5.15 trillion- Japan GDP (PPP): $5.75 trillion

Japan is the third-biggest economy on the planet, with its GDP crossing the $5 trillion imprint in 2019. The money related emergency of 2008 shook the Japanese economy and it’ was  a difficult time for its economy from that point forward. The worldwide emergency set off a downturn, trailed by frail homegrown interest and tremendous public obligation. At the point when the economy was starting to recoup, it endured a gigantic tremor that hit the nation socially and financially. While the economy has broken the deflationary winding, monetary development remained muted. Its economy will get some boost with the 2020 Olympics keeping  the investment flow strong, which is sponsored by a careless money related approach by the Bank of Japan. Japan slips to the fourth spot when GDP is estimated as far as PPP; GDP (PPP) is $5.75 trillion out of 2019, while its GDP per capita is $40,850.

4. Germany

Germany Nominal GDP: $3.86 trillion – Germany GDP (PPP): $4.44 trillion

Germany isn’t only Europe’s biggest economy yet in addition the most grounded. On the worldwide scale, it is the fourth-biggest economy as far as nominal GDP, with a $4 trillion GDP. The size of its GDP as far as buying power equality is $4.44 trillion, while its GDP per capita is $46,560. It was the third-biggest economy in nominal terms in 1980, with a GDP of $850.47 billion. The country has been dependent upon capital great fares, which endured a misfortune post-2008 money related emergency. The economy developed by 2.2% and 2.5% in 2016 and 2017, individually. Notwithstanding, the IMF says this slipped to 1.5% and 0.5% in 2018 and 2019, separately. To support its assembling quality in the current worldwide situation, Germany has dispatched Industries 4.0—its vital activity to set up the nation as a lead market and supplier of cutting-edge fabricating arrangements.

5. India

India Nominal GDP: $2.94 trillion-India GDP (PPP): $10.51 trillion

India is the quickest developing trillion-dollar economy on the planet and the fifth-biggest in general, with a nominal GDP of $2.94 trillion. India has become the fifth-biggest economy in 2019, surpassing the United Kingdom and France. The nation positions third when GDP is thought about regarding buying power equality at $11.33 trillion. With regards to ascertaining GDP per capita, India’s high populace hauls its ostensible GDP per capita down to $2,170 The Indian economy was just $189.438 billion in 1980, ranking 13th on the list globally. India’s development rate is required to increase from 7.3% in 2018 to 7.5% in 2019 as it drags from the cash trade activity and the presentation of the merchandise and enterprises charge blur, as indicated by the IMF. Today, its administration area is the quickest developing area on the planet, adding to over 60% to its economy and representing 28% of business. Assembling stays as one of its critical areas and is being given due push by means of the legislatures’ drives, for example, “Make in India.” The economy’s quality lies in a restricted reliance on sends out, high sparing rates, good socioeconomics, and a rising working class.