omarplummer

[omarplummer]

The Effect of Consolidation in the Payments Industry

You can see that the payments industry is going through changes if you’re willing to pay close attention. There is a significant amount of consolidation taking place currently and this is going to have an impact on everything. Understanding the effect that consolidation will have on the payments industry involves looking at things from the right perspective. Take a look at the information below to learn what you need to know about what is going on. 

Fewer Options Being Available

Perhaps the most obvious effect of consolidation in the payments industry is that there will be fewer options moving forward. With many of the large payments companies consolidating, it makes it so that there is not as much competition as there used to be. This changes things substantially and those who are used to having more options will find things will be much different soon enough. Having fewer payment options available changes things in potentially negative ways. 

Less Transparency and Flexibility

One of the biggest problems with the consolidation of the payments industry is that there will be less transparency and flexibility now. If you don’t have other options to turn to, then the payment companies can simply do as they wish. You won’t be able to turn to the competition if you’re not happy with their billing methods or fees. This is going to lead to a less satisfying customer experience and it could be very bad if the payments companies don’t do things right. 

Many people are worried about whether billing fees are going to get out of hand due to this consolidation. Unwanted fees already turn customers away and having more processor initiated fees would be terrible. Customers will likely be unhappy with having so many fees to deal with and merchants will even have to pay higher credit and debit processing fees. These greater fees will not come with any benefits attached to them either and this makes them that much tougher to swallow. 

Efficiency Issues

Having fewer payment options will also lead to greater processing times than normal. Applications will take longer to process and underwriting times will take longer, too. This could lead to many bottlenecks that will inconvenience customers and businesses alike. Overall, the consolidation of the payments industry can be seen as a negative thing that you will want to be prepared for. 

The post The Effect of Consolidation in the Payments Industry first appeared on Omar Plummer | Science. from Omar Plummer | Science https://omarplummer.org/the-effect-of-consolidation-in-the-payments-industry/ via IFTTT

[omarplummer]

5G and the Internet of Things

Technology has always been something that pushes the world in important new directions. Currently, there are many new types of technologies being developed and some new advancements are already being implemented in the world. Both 5G and the Internet of Things (IoT) are nothing new, but having them fully integrated and working together will change the world in various ways. Read on to examine what 5G and IoT are going to be able to accomplish together. 

Improved Manufacturing

Manufacturing is going to be improved substantially because of 5G and IoT working together. Smart factories will now be possible and these new factories will make manufacturing so much more efficient. Improving production line efficiency while also reducing energy consumption will be huge for the manufacturing industry. This will save a lot of money and it will even open up new revenue streams. 

The Creation of Smart Cities

Citizens will be able to enjoy the benefits of living in smart cities before too long. When 5G and IoT devices have been fully implemented into a city’s structure, it has the potential to improve the lives of citizens. Video analytics, AI, and many other factors can help to make this a reality. Citizens can get traffic information in real-time by connecting to a citywide network and this makes things so much safer for everyone overall. 

Autonomous Vehicles

Autonomous vehicles have been a topic of conversation for a few years now. Many people think that they have the potential to change the shipping industry in positive ways. 5G and IoT will make autonomous vehicles possible and this will lead to fewer road accidents each year while also making traffic much more efficient in cities. People will be able to get to where they need to go efficiently without having to worry.

Better Health Care

You can even count on 5G and IoT to improve the healthcare industry. People already use IoT devices quite often for healthcare purposes and this will continue to give doctors more information about patient health while allowing patients to remain engaged in the process. 5G makes it much easier for doctors to treat patients remotely, too. The overall healthcare experience will benefit from better technology and everything being connected. 

The post 5G and the Internet of Things first appeared on Omar Plummer | Technology. from Omar Plummer | Technology https://omar-plummer.com/5g-and-the-internet-of-things/ via IFTTT

[omarplummer]

Three Ways That Tech Improves Health Care

The healthcare industry has come a long way in the last several years. Technological advancements have made new treatments possible and this is very exciting. If you’re curious about just how much improved tech makes a difference in the healthcare industry, then you should keep reading. You’ll be able to examine three ways that tech improves health care so that you can understand just how important healthcare tech really is. 

Making Use of Connected Devices

Connected devices can improve health care a lot because they allow patients to take a proactive role in improving their health. You probably know about wearable technology and how popular it is in modern times. People like being able to “get their steps in” and it’s beneficial to monitor your health in basic ways. Patients can get all sorts of information from connected devices and this information can help doctors to stay informed, too. 

There are other types of wearable medical devices besides just the consumer products that you’re likely familiar with. Doctors can use this technology to monitor patients for longer periods of time. This can help to ensure that doctors are making informed decisions that will help to protect patients. These technological improvements have definitely made a difference in people’s lives in various ways. 

AI and Faster Diagnosis

Making use of AI is something that can improve health care substantially, too. If doctors can use AI to its full potential, then it’s possible to catch medical problems early on instead of having to wait for certain symptoms to occur. AI makes it possible to diagnose problems faster and it could even lead to better preventative healthcare options. You should see AI as a great assistant or tool that doctors can make use of to provide better health care. 

Improving Patient Outcomes and Recovery Times

Technology has also been able to improve patient outcomes and recovery times. Better technology has allowed for more accurate diagnoses of conditions while also helping the treatments for those conditions to go better. Patients can enjoy better prosthetic limbs and so many other great medical advancements. Recovery times are even better now than they used to be due to improved technology and better medicines. 

The post Three Ways That Tech Improves Health Care first appeared on Omar Plummer | Science.

from Omar Plummer | Science https://omarplummer.org/three-ways-that-tech-improves-health-care/ via IFTTT

[omarplummer]

How Blockchain Is Impacting the Supply Chain Industry

Blockchain is something that has the potential to revolutionize various industries. However, it’s important to note that the supply chain industry stands to benefit more immediately than many others. If you’re curious about how blockchain is impacting the supply chain industry, then you should keep reading. You’ll see just how important blockchain is to the future of the supply chain industry. 

Traceable Records That Can’t Be Changed

One of the most important things about the supply chain is being able to trace everything. For things to go smoothly, you need to be able to keep track of records and those records need to be reliable. Blockchain allows the supply chain industry to make use of traceable records and you’ll also know that these records can’t be changed because of how secure blockchain is. You’ll have the accurate data that you need and the supply chain improves because of this. 

Saving Money 

It’s great to know that blockchain can save the supply chain industry a lot of money as well. Typically, the supply chain industry winds up wasting a lot of cash due to overall inefficiency. Blockchain streamlines the process while making things significantly more reliable. This leads to cost savings and that is something that everyone can get behind. 

The Importance of Interoperability

Not having various systems be able to talk to each other can make things difficult, to say the least. Data integration matters when it comes to making the supply chain move along smoothly. Blockchain makes interoperability simple and you can count on always being able to have the right data. The information that is stored on blockchain will always be accessible by all parties involved in the transaction. 

Using Blockchain as a Replacement for EDI Systems

Electronic data interchange (EDI) systems have been useful in recent years, but they aren’t without flaws. Blockchain can replace these EDI systems because it’s just better at doing everything. If a shipment is lost or if pricing information changes, it takes time for EDI systems to catch up and no one can access real-time information. You’ll always be able to get real-time information using blockchain and this changes things for the better. 

The post How Blockchain Is Impacting the Supply Chain Industry first appeared on Omar Plummer | Technology.

from Omar Plummer | Technology https://omar-plummer.com/how-blockchain-is-impacting-the-supply-chain-industry/ via IFTTT

[omarplummer]

How AI Is Used in Finance

AI is being used in many different industries for various purposes. When it comes to the finance industry, AI has become hugely important over the last several years. You will see AI become even more prevalent in the near future due to how much utility it has in the finance sector. Read on to learn more about how AI is used in finance. 

Helping with Credit Decisions

Credit decisions need to be made in an unbiased way and AI can help with this. Finance companies use AI to make credit decisions fast and this improves the customer experience. They can get an answer on credit applications much faster due to AI being able to automatically examine the application. This can help some people to get credit faster while ensuring that others won’t have to wait just to have applications rejected. 

Managing Risks

It’s important for finance businesses to be able to understand risk factors. AI is capable of looking at data and extracting important bits of information. AI can analyze the data to help finance companies know more about risk factors. This should lead to companies making wiser decisions and having a better chance of finding success. 

Personalizing the Customer Experience

Personalizing the customer experience is easier when you’re making use of AI, too. Customers want to be able to have the best experience when banking, handling loan repayments, and anything else that might have to do with the financial sector. AI can help to ensure that the experience meets the specific needs of your customers. For many people, this will mean getting real-time access to information, getting spending advice based on the data, and being given credit monitoring tools. 

AI is something that can help by making chatbots more reliable as well. Chatbots improve the customer service experience by allowing customers to get answers to questions right away instead of having to wait around. Having better AI will make it easier to meet the needs of various customers since the AI will be able to answer simple questions and help with various issues. If you want to compete in the financial industry, then you’re going to need to make use of AI for the sake of the customer experience. 

The post How AI Is Used in Finance first appeared on Omar Plummer | Science.

from Omar Plummer | Science https://omarplummer.org/how-ai-is-used-in-finance/ via IFTTT

[omarplummer]

Artificial Intelligence for Business

Artificial intelligence is a huge deal and it’s going to change things for just about every industry. When it comes to using AI for business, there are many benefits that you need to consider. Keep reading to learn a bit more about AI and what it means for the business world. You’ll see just how useful it is going to be and you might be able to mentally prepare yourself for what is to come. 

Better Data Security

Data is crucial and your business needs to do a good job of protecting it. AI is going to give you much better data security than ever before. You can use an AI algorithm to detect anomalies using pattern data and it might even be possible to predict breaches. Companies will be significantly more secure when using AI to its full potential. 

Improving E-Commerce Recommendations

AI is excellent when it comes to improving e-commerce recommendations. You can use AI to go through a buyer’s purchase history and have things automatically analyzed. This will make it possible to suggest things that the buyer might want and this works amazingly well. It can improve sales for businesses while also making things easier for customers. 

Customer Support

Customer support is another crucial part of business and you want to really focus on providing the best customer experience that you can. AI is going to enhance the overall customer experience by streamlining things. Chatbots can be more helpful than ever before when they’re making use of advanced AI. Customers will be able to solve problems and ask simple questions without having to wait to contact a live person. 

Income and Cash Flow Predictions

AI is perfect for analyzing data and making accurate predictions based on what is going on. Businesses can use this data to get a better idea of what type of income they can expect in the coming months. This could make cash flow issues easier to manage since you might have advanced warning of significant changes in the market. For many businesses, this is going to be among the most important uses of AI. 

The post Artificial Intelligence for Business first appeared on Omar Plummer | Technology.

from Omar Plummer | Technology https://omar-plummer.com/artificial-intelligence-for-business/ via IFTTT

[omarplummer]

Why Fintech Is Set to Disrupt the Payments Business

Fintech is a huge deal and it has the potential to change many different industries. Many experts are predicting that the payments business is about to go through a huge disruption due to fintech. Keep reading to explore why fintech is set to disrupt the payment business to such a high degree. You’ll feel more informed and you’ll know what to expect in the near future. 

There’s a Huge Opportunity for Growth

Experts are saying that the fintech industry is set to grow exponentially in the near future. This means that there is a big investment opportunity for those who want to get in on it. Fintech can change the payments industry for the better and the payments industry is worth trillions of dollars. This is something that could be very lucrative and it makes sense to get involved in things now rather than waiting. 

New Models Are Expanding the Footprint of the Payments Industry

Of course, you need to know that new models are expanding the footprint of the payments industry, too. Mobile, messengers, and P2P are all playing a role in this and they’re helping to change how customers view payments. As customers start to interact with payments in different ways, companies need to figure out how to streamline things and make the process as customer-friendly as possible. Fintech is the answer to these problems and this is going to change everything significantly over time. 

Companies that invest in fintech are going to be able to offer a substantially improved customer experience. It will also simply be easier for them to maintain things and keep costs low. Having the right fintech is going to matter more than ever before for companies that want to keep up. Those that don’t get with the times might risk becoming out of touch or possibly even irrelevant. 

Blockchain

Blockchain plays a role in this process as well because it’s reshaping industries. People can use blockchain to cut out the middleman, so to speak. It allows for transactions between two parties to be safe and simple. The payments industry is going to need to adapt and adjust to this over time if they want to be able to keep up.

The post Why Fintech Is Set to Disrupt the Payments Business first appeared on Omar Plummer | Science.

from Omar Plummer | Science https://omarplummer.org/why-fintech-is-set-to-disrupt-the-payments-business/ via IFTTT

[omarplummer]

Entrepreneurs and the Future of IoT

The Internet of Things (IoT) is becoming more and more important as the years go on. People are now embracing IoT like never before as many more IoT-enabled devices are released. When it comes to entrepreneurs, the IoT is of particular interest. Read on to learn more about entrepreneurs and the future of IoT. 

IoT Is Going to Keep Growing

IoT is going to keep growing and it’s going to become a very huge money-maker in the near future. Experts predict that the IoT industry is going to go from making billions of dollars to making trillions. This means that it is going to be one of the most important industries in the world along with AI. The future is going to involve using IoT-enabled devices and it’s best to recognize the growth potential of IoT now. 

Future IoT Advancements Will Be Focused on Improving the Customer Experience

Currently, IoT advancements are mostly focused on improving business processes. This is going to change in the near future because there is a greater emphasis being placed on improving the customer experience. Moving forward, IoT will be very focused on helping the customer experience to be the best that it can be. Technologies are already being developed that can make a difference in this sector. 

5G and IoT

5G and IoT are going to work hand-in-hand in the near future. You probably know that 5G is one of the next big advancements in the world and that it is thought to be a game-changer. It’s also important to note that IoT companies are going to implement 5G into their devices in useful ways. IoT is going to be better than ever because of 5G integration. 

Transforming the Planet

One of the loftier goals that are associated with IoT involves transforming the planet. Experts think that IoT has the potential to connect the world in a very profound way. Using data and sensors, it should be possible to connect everyone and every thinking device on the planet. This can lead to many interesting possibilities and it’ll be intriguing to see just how far the technology develops moving forward. 

The post Entrepreneurs and the Future of IoT first appeared on Omar Plummer | Technology.

from Omar Plummer | Technology https://omar-plummer.com/entrepreneurs-and-the-future-of-iot/ via IFTTT

[omarplummer]

How IoT Can Help Provide Better Patient Care

Many medical facilities are starting to make great use of the Internet of Things (IoT). There are millions of IoT devices out there, but IoT is particularly useful when it comes to health care. Read on to learn more about how IoT can help provide better patient care. This will make it easier for you to see just how important IoT has become in the healthcare sector. 

Real-Time Alerts

Keeping track of things is crucial when it comes to patient care. IoT devices will be able to send out real-time alerts so that everyone will know what is going on with patients. Getting alerts on time could help to save lives and it’s imperative to implement this technology as much as possible. This can help patients to get emergency treatment and might also help some patients to avoid having their conditions get worse. 

Better Customer Engagement 

Better customer engagement is possible when you make use of IoT properly. IoT gives patients more control over their health than ever before. Patients get to have access to more information and they can take an active role in helping to solve many problems by making lifestyle changes. It becomes easier to treat patients when they can see the benefits of actively engaging with health care. 

Reducing Costs

Reducing costs will always be hugely beneficial no matter what industry you’re talking about. IoT reduces costs by eliminating or reducing inefficiencies and this will lead to less spending overall. Some research indicates that IoT could reduce costs by as much as 25% per year and this is going to make a gigantic difference. You can use IoT to help prevent emergencies and this is going to save money. 

Telehealth Implementation

Telehealth is becoming more common now and this is going to be a big deal moving forward. IoT makes implementing telehealth measures that much simpler. Doctors will be able to communicate with patients without having to see them in person and this makes it possible to engage with patients more often. It should lead to a better healthcare experience for all patients. 

The post How IoT Can Help Provide Better Patient Care first appeared on Omar Plummer | Science.

from Omar Plummer | Science https://omarplummer.org/how-iot-can-help-provide-better-patient-care/ via IFTTT

[omarplummer]

Common Misconceptions About Blockchain

Blockchain is something that has become more prevalent as of late. You might have heard about blockchain and how it is the future in many ways. There are a large number of benefits that you can point to that will showcase how useful blockchain technology is. However, it’s also true that there are many common misconceptions about blockchain that need to be cleared up and you can read all about them by looking at the information below. 

Blockchain Is All About Cryptocurrency

Blockchain often gets confused with the very concept of cryptocurrency. You should know that blockchain is what allowed Bitcoin to be created in the first place. Blockchain is more complex than this, though, and it provides a way for peer-to-peer transactions to be performed securely. You will find that blockchain is more useful than simple cryptocurrency. 

Blockchain Allows for Anonymous Transactions

Some people mistakenly think that blockchain is about being able to enact transactions anonymously. Actually, blockchain is a very transparent way to do peer-to-peer transactions. This is actually safer and easier to track than many traditional types of transactions. It isn’t shady or shadowy in any way and you should know that blockchain technology has mass appeal. 

Blockchain Appeals to Criminals

Another common misconception is that blockchain specifically appeals to criminals and other shady types of people. While it is true that those individuals might like the security that blockchain technology can provide, it is absolutely unfair to paint blockchain as something that is used for nefarious purposes. This is a type of technology that is used by companies and everyday people so that they can enjoy secure transactions. It’s something that appeals to the mainstream and it isn’t made for criminals. 

Blockchain Is a Storage Mechanism

Some individuals mistakenly think of blockchain as a storage mechanism. This is actually something that really shines when it is used as an exchange. Blockchain transactions need to involve at least two parties. This is a way to facilitate fair and secure trading or exchanging and isn’t specifically meant to be used as a storage mechanism. 

The post Common Misconceptions About Blockchain first appeared on Omar Plummer | Technology.

from Omar Plummer | Technology https://omar-plummer.com/common-misconceptions-about-blockchain/ via IFTTT

[omarplummer]

The Benefits of IoT in Finance

The Internet of Things (IoT) has been helping to change the world for a long time now. IoT-enabled devices are so prevalent now and it has made people’s lives easier in many ways. IoT isn’t just something that benefits people who are using appliances and devices at home, though, since it can help various industries in profound ways. Take a look at the benefits of IoT in finance by reading the information below. 

Better Personalized Customer Service Options

IoT can make the customer service experience so much better by personalizing things. Companies can use IoT to get data about customers and this can make tailoring the customer service experience much simpler. Being able to offer a tailored experience to customers will ensure that they have the best time possible. If finance businesses can connect with customers or clients on this level, then it’s certainly going to be a benefit. 

Better Decision-Making Capabilities

Having more information from IoT devices will also make it simpler to make decisions. Finance companies need to be able to make the best decisions possible with regard to credit risk assessment. IoT simply makes getting the necessary information easier than it would otherwise be. Companies will always be able to get the relevant data if they’re able to make use of IoT properly. 

Allowing for Smart Interactions

You can use IoT to allow for smart interactions as well. This means that financial companies can help customers to connect their banking tools to wearable devices. It makes it so much easier for customers to keep track of spending and other important financial information. Smart interactions wouldn’t be possible without IoT and customers expect this level of utility in modern financial institutions. 

Easier Communication Between Financial Devices

Having the right IoT capabilities will allow for easier communication between financial devices, too. Banks can use IoT to implement cashless payments because of this. This can also improve the insurance underwriting experience. There are many possibilities for this and easier communication is always going to be a positive thing for the financial sector. 

The post The Benefits of IoT in Finance first appeared on Omar Plummer | Science.

from Omar Plummer | Science https://omarplummer.org/the-benefits-of-iot-in-finance/ via IFTTT

[omarplummer]

How Voice Technology Is Changing the Financial Industry

Voice technology has really started to take the world by storm in recent years. You have probably noticed voice technology becoming more prevalent in many ways. It’s also interesting to note that voice technology is having an impact on the financial industry. Keep reading to learn about how voice technology is changing the financial industry. 

Improving Customer Service

Customer service is much easier now that companies are able to make use of voice technology. Customers can get assistance in a much shorter amount of time than before. This leads to increased happiness with the overall customer service experience. Voice technology works really well now, too, since it’s able to recognize specific accents. 

One of the main reasons why voice technology is so popular is that it makes things better for customers. In the past, customers had to deal with long wait times just to get help with small matters. With the advent of voice technology, this is now a non-issue. All customers can receive assistance right away and this has changed the finance industry for the better. 

Voice Payments 

Voice payments are now a thing that customers can take advantage of. People can use voice payments to send money to friends, family members, and others very easily. It’s also possible to use this aspect of voice technology to purchase things on merchant websites. Many people even make use of voice payment technology to approve bank transactions. 

Hands-free banking is something that has a lot of potential. Being able to handle things without having to do a series of complex actions is appealing. Many people love the convenience of hands-free banking and none of this would be possible without voice technology. You’re going to see this become much more commonplace moving forward. 

Security

Security is certainly a concern when it comes to implementing voice technology. However, it’s something that is taken very seriously and financial companies are doing everything that they can to make the process very secure overall. The adoption rates of voice technology are high and they will continue to grow as security concerns become less and less of an issue. As it stands, voice technology is set to become more popular and useful than ever. 

The post How Voice Technology Is Changing the Financial Industry first appeared on Omar Plummer | Technology.

from Omar Plummer | Technology https://omar-plummer.com/how-voice-technology-is-changing-the-financial-industry/ via IFTTT

[omarplummer]

How Blockchain Can Be Used in Banking

You should know that blockchain is very useful and that it has been helping many industries to move things forward. The banking industry is going to be able to make use of blockchain in many helpful ways. Examine the following ways that blockchain can be used in banking. It’ll give you a better understanding of how blockchain is going to be important to the banking industry moving forward. 

Better Security

When it comes to banking, security is going to be one of the biggest concerns. The financial sector has been concerned with problems such as hacking and fraud for a long time. Blockchain changes things for the better because it is virtually impossible to hack and it makes everything secure. If you want to be able to enjoy transparent transactions, then using blockchain is the best option. 

Making Things Faster

Customers want to be able to get things taken care of in a timely fashion. Using blockchain makes things much more efficient because you’re going to be able to get information in real-time. This allows you to approve and log transactions right away instead of having to wait around. It will improve the process of banking and make things easier for all parties involved. 

Tracking and Transparency

Perhaps the best reason why banks need to start using blockchain is how easy it is to track things. You can track everything that you’re doing with blockchain and it keeps everyone in the loop. The transparent nature of blockchain keeps everything honest while also just making things more convenient. If you want to give customers the best possible banking experience, then using blockchain technology is the way to go. 

Saving Money

Banks can even save money by making use of blockchain properly. Blockchain is so secure that it’s going to eliminate many security risks. You won’t be wasting money on certain things any longer and you’ll be able to expect greater efficiency. All banks will be able to benefit from this greater level of efficiency and the cost savings make it too good to ignore. 

The post How Blockchain Can Be Used in Banking first appeared on Omar Plummer | Science.

from Omar Plummer | Science https://omarplummer.org/how-blockchain-can-be-used-in-banking/ via IFTTT

[omarplummer]

How Can Blockchain Benefit Businesses?

If you haven’t heard of blockchain technology at this point, then you probably haven’t been paying attention to tech trends. Blockchain is taking the business world by storm because of just how useful it is. How can blockchain benefit businesses and why should you consider implementing it? Read on to learn more about just how useful blockchain can be. 

Better Security

Blockchain can significantly improve your security so that you can enjoy a better experience at your company. Companies need to be able to take care of data and important payment details. Customers and companies alike can feel safe when blockchain is being used to facilitate transactions. It is virtually impossible to hack blockchain, it’s trackable, and everything is as transparent as possible. 

Lowering Costs

You will also be happy to hear that blockchain can lower the cost of doing many things. With blockchain, you’re going to be able to do things faster and this leads to decreased personnel costs as well as lower administrative costs. Smart contracts through blockchain make it easy to complete transactions while also making things less costly. It’s an easy way to save money while ensuring that your transactions go smoothly. 

Better Rewards Programs

Companies can also make use of blockchain to offer better rewards programs to their customers. Many people opt out of loyalty programs because they have benefits that expire after a short period of time. You can change this with blockchain by offering things that are more similar to cashback programs. Many companies have been able to implement measures like this to allow customers to store rewards in a digital wallet and spend things over time. 

The Ability to Innovate

It’s also worth noting that blockchain technology gives companies the tools to innovate in unique ways. You can use blockchain to help forge a new path forward for your business. There might be applications for blockchain technology that other companies simply haven’t thought of yet. It’s a great tool that you should seek to use to its full advantage so that you can put your company in a power position in your field. 

The post How Can Blockchain Benefit Businesses? first appeared on Omar Plummer | Technology.

from Omar Plummer | Technology https://omar-plummer.com/how-can-blockchain-benefit-businesses/ via IFTTT

[omarplummer]

How (and Why) to Mitigate Distractions While Working From Home

Eliminating distractions while working from home — especially with kids running around belting Frozen II and housemates doing mid-day workouts — might not be entirely feasible. However, it is still possible to mitigate distractions. After all, they’re hurting you — and your business — more than you might realize. You might have heard the popular statistic that you need an average of 25 minutes to get back to your original task after a distraction.

But there’s more affecting your productivity than that. We looked through some of the research behind the psychology of distractions and found some interesting insights:

Distractions have a demonstrably negative effect on our ability to perform, even when the distractions had little significance.

People who consider themselves at multi-tasking may be worse at moving from task to task than others.

Even if you attempt to “move on” to another work-related task, you may find yourself distracted by the first task of your day.

With that in mind, let’s dig deeper into the studies and find some better strategies for managing distractions:

1. Too Much Information Has a Detrimental Impact on Performance

In one UK study, researchers had volunteers carry out problem-solving tasks in a quiet environment—then tested them while they were “bombarded with new emails and phone calls.” Even though the volunteers didn’t have to respond to any of these messages, simply being aware that they were taking place had a significant impact on their ability to concentrate.

The result was that performance suffered. The average IQ dropped by about 10 points.

The conclusion is that not only are interruptions distracting, but if you allow distractions to weigh on your mind in even the slightest way, they can have a detrimental impact on performance. Given that volunteers didn’t have to respond to any email or phone call and still found them distracting, we can only imagine the impact distractions have on us when the emails and phone calls do need responses.

So try having an open dialogue with those you live with and creating a chart that hangs outside of your workspace where it will be seen that alerts housemates of your current work status. It may include options such as “available,” “busy,” “in a meeting” or “do not disturb unless facing a MAJOR emergency”.

2. Switching Between Tasks Takes Up More Energy Than You Think

A 2009 study at the University of Minnesota found the existence of what they dubbed “attention residue.” They defined it as the delay that occurs when someone sets aside one task and takes up another.

It turns out that the mental task of switching gears takes more energy and attention than we might have thought. And that led to some interesting conclusions, including the “surprising result that heavy media multitaskers performed worse on a test of task-switching ability.”

That’s right: even experienced multitaskers aren’t as good at switching between tasks as they might have thought. In fact, they may even be worse than the population at large.

This should lead most people to reconsider their approach to multitasking and asking the following questions:

Am I really a good multitasker, or do I just multitask often?

How long does it take me to “switch gears,” and do I often put off work because of the energy required to start a new task?

Where are some areas in which I might combine activities to minimize “switching gears” and improving my overall concentration?

These questions will help you identify some of the habits that may be leading you to lose concentration as you move from task to task. So whether you claim to be a good multitasker or not, try scheduling out your day in the early morning to help limit the amount of times you have to switch tasks and accommodate for the needs of those you live with.

3. The First Problem You Focus On Tends to Get Most of Your Brain Power

They call it “cognitive fixation.” If you like to multi-task, you may find that the first activity during your day is the one that retains most of your attention later on, even while you’re attempting to give 100% of your attention to something new.

This is evidence in favor of the strategy of attacking your most important tasks first. If you were to work on a big work project in the morning and only take on lighter menial tasks later in the day, part of your mind will continue to work on that “big” work project that you started off with. This can work to your benefit, so long as you’re aware of the effect and schedule your day accordingly.

4. Distractions are Disproportionately Affecting the Young

Millennials and Gen Zers—those most affected by the digital lifestyle—are also the groups that report the highest rates of distraction, with a rate of 74% identifying themselves as frequently distracted. This suggests something other studies have observed; the multi-tasking demands of the digital lifestyle have a detrimental effect on our ability to concentrate, which means that strategies for reducing social media usage may have long-term benefits for personal productivity and concentration.

One other reasons many of us may be suffering from distraction issues: using multiple devices at the same time can negatively affect self-control. So try to limit the number of devices you have within your reach while working from home. Allot yourself windows of time during the day — if needed — to check on certain devices.

5. Attention is a “Limited Resource”

Not only is our attention limited by the time we have in a day, but our energy is subject to the demands of being a living, breathing being. We simply don’t have as much energy to devote to willpower and attention as we’d like to have.

One study, as reported by Psychology Today, found that distractions eat into about 2 hours of our daily work lives. Given that our attention is a limited resource, the strategy of working on the most important task of the day as early as possible—while we still have the concentration to do it—may seem most effective.

One Reason to Use Distractions to Your Benefit

This post paints a very dire picture of the impact of distractions on our life. But if you can manage them effectively, you can sometimes use them to your benefit as well.

One study at Carnegie Mellon found that the regions of the brain that handle your decision-making process will still be in use even when you’re consciously focusing on something else. That means that sometimes, actively seeking distraction when you’re stuck on a problem can be a great way for you to relax, loosen up, and allow a solution to suddenly pop into your mind while you’re thinking about something else.

Otherwise, if you want to be productive while working from home, try to keep the distractions at a minimum (as much as possible), schedule out your day, and focus on your most important task of the day as soon as possible. Your calendar will thank you.

from The Grasshopper Blog - Insights for Entrepreneurs https://grasshopper.com/blog/Eliminating Distractions While Working From Home/ via IFTTT

[omarplummer]

Innovation Trends Progressing E-Commerce

E-commerce is something that is going to become even bigger in the coming years. Many people already do a significant amount of shopping online and that is likely going to become the norm for a number of different reasons. With e-commerce becoming so important to the world economy, it’s going to be good to recognize the trends that will allow e-commerce to progress to the next level. Read on to examine just a bit about the future of e-commerce. 

Being Able to Make Payments Across Borders

One of the best trends that is making e-commerce better than ever involves making payments across borders. Shopping online allows you to buy from merchants around the world and you should be able to make those payments easily. The most popular online payment methods have made this an easy process. Making payments across borders is now seamless and it’s going to become easier to shop online when purchasing from businesses in other countries. 

Mobile Payments

Of course, the mobile market is growing exponentially and this isn’t going to slow down anytime soon. The data shows that more and more people are accessing the internet from mobile devices than ever before. Mobile growth is outpacing the growth of personal computers and focusing on mobile payments is sensible. E-commerce businesses are working to make mobile payments as easy as possible so that people can shop using their phones whenever they feel the need. 

Fintech Is Helping E-Commerce Companies

E-commerce companies are being helped substantially by having access to fintech. Fintech refers to software that helps businesses to streamline various processes. This makes operating an e-commerce business more efficient overall and it helps to keep costs down. More and more e-commerce companies are investing in fintech to improve the customer experience and keep their business operations as efficient as can be. 

AI Recommendations

Of course, e-commerce is also being impacted by the advent of AI. AI makes it easier to suggest products to customers by taking a look at their purchasing history. Customers can be recommended various products based on an algorithm and this will lead to greater sales. It’s good for the customers because it makes finding interesting products easier and it gives e-commerce businesses improved profit margins. 

The post Innovation Trends Progressing E-Commerce first appeared on Omar Plummer | Science.

from Omar Plummer | Science https://omarplummer.org/innovation-trends-progressing-e-commerce/ via IFTTT

[omarplummer]

The Benefits of the Cloud in IoT

If your company is looking to find IoT solutions, then turning to the cloud is likely going to be your best bet. Cloud technology makes so many more things possible and it really is going to be imperative to businesses in the future. The benefits of the cloud in IoT are numerous and it’ll be good for you to recognize the most important ones. Read on to get all of the necessary information. 

Easier Data Integration

Data integration is something that matters a lot to many different companies. You’re going to have a significantly easier time with data integration if you’re able to use the cloud properly. This can save you a substantial amount of time and you won’t have to worry about the process encountering bumps in the road. Data integration is virtually seamless when you’re using the cloud to its full potential. 

Overall Security

Security is a great concern for many companies and they need to do what they can to protect data. Using the cloud actually winds up being great for this and it could be more secure than not using it. You’ll be able to count on having access to all of your data and it won’t be stuck in one physical location. Aside from this, modern cloud services offer amazing security options and the cloud will always securely interact with your IoT applications. 

Easier Communication

Communicating is such an important facet of running a business. When it comes to handling all of your IoT devices, you need communication to go as smoothly as it can. Using the cloud makes everything so much faster than it would otherwise be. You can accomplish many things by improving your communication abilities with the cloud. 

Overall, if your business isn’t making use of the cloud, it’s going to be a lot tougher to handle your IoT needs. There are more and more IoT devices being made all the time. You need the cloud to be able to take care of everything properly and it just makes sense to start utilizing it now. You’ll have an easier time communicating when you have the cloud, you’ll enjoy greater security than before, and it’ll make data integration a breeze. 

The post The Benefits of the Cloud in IoT first appeared on Omar Plummer | Technology.

from Omar Plummer | Technology https://omar-plummer.com/the-benefits-of-the-cloud-in-iot/ via IFTTT