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5 Ways Big Data Is Transforming the Real Estate Business

Businesses across different industries are leveraging Big Data – that is huge volumes of data collected from search engines, social media, and other non-conventional sources –  to bring improvements in many business aspects. 

With Big Data analysis, businesses enjoy streamlined resources management, increased operational efficiencies, growth opportunities, expedited and smart decision-making, and optimized product development among other benefits. 

It is no different in the real estate sector, the transformation is clear. Companies, investors, sellers, and buyers are embracing Big Data using this type of data to build algorithm models and predictive analyses to remove the guesswork. As a result, they are reaching predictions that are more accurate. Moreover, these predictions are bringing several benefits to the stakeholders. 

Here are 5 ways leveraging Big Data is revolutionizing the real estate industry.

Source: codeburst.io

1. More Accurate Property Evaluation

When introducing property in the market, pricing it correctly is crucial in the real estate industry. Real estate professionals often relied on their expertise and experience to manually appraise a home. This meant performing a comparative market analysis based on factors such as the proximity to schools, institutions, and other amenities as well as the prices of other properties in the neighborhood.

However, Big Data and AI are allowing these professionals to evaluate properties more accurately based on the current trends and other additional information. Unlike manual appraisal which compares just a few properties, big data can analyze thousands of similar properties. Big Data gives better insights into the market to help evaluators understand the markets in-depth. 

In addition, Big Data technology helps remove inconsistencies brought about by dependency on many data sources. The technology is able to bring all these data sets together to help reach a transparent and objective figure.

Source: mphmag.com

2. Improved Marketing Strategies

When it comes to marketing, the more targeted a strategy is, the better. 

With Big Data, property agents get access to valuable insights about what prospective buyers are looking for in properties. In addition, agents can be able to identify buyers’ demographics by gender, age, region, preferences, interests, career objectives, and more to help them create more targeted advertising campaigns. For instance, agents can be able to tell that a customer has young children or pets. With such information, agents focus on properties in pet-friendly neighborhoods as well as those close to schools. Likewise, with insights on career aspirations and standard of living, agents can help prospective buyers to locate properties that match what they are looking for.

Big Data is mostly transforming the luxury homes market in this regard. This is where prospective buyers are looking more into what features the homes have to offer, as compared to specific locations.

Source: smartbusinessdaily.com

3. Enhanced Property Development

Big Data analytics is helping developers and real estate company owners maximize profit margins through improved property development

Stakeholders are analyzing data sets to identify areas that promise the highest profits for development. For instance, by analyzing government records, they are able to identify areas marked for infrastructure improvements. Likewise, by looking at trends on social media, they can gain insights on, say, an increased interest in a particular area by a particular demographic. 

Additionally, by going through an apartment market survey, investors can be able to analyze property occupancy by comparing occupancy rates in the past versus future predictions. This helps them identify areas with high occupancy rates for their future investments.

In addition to identifying the best places to invest in, investors can use market analysis reports and follow social media trends to determine what residents in multifamily properties are looking for.

Source: itchronicles.com

4. Better Decision-Making

AI and Big Data are transforming the real estate industry by enabling faster and better decision-making for both customers and real estate business owners. 

For instance, Big Data delivers all the information a customer might need about a property. This can include crime rates, school zone data, home value graphs, and more. With access to such information, they can make the decision to buy or not faster and from a point of knowledge.

Likewise, investors can be able to look at the property’s past data such as how the property was used, past renovations, permits pertaining to the property, insurance claims filed in the past, and legal cases attached to the property among other information. This puts the investors in a better position to decide whether to go ahead with the purchase in a quick manner. 

Moreover, Big Data is paramount in risk mitigation to reduce losses.

Source: elinext.com

5. Efficient Running of the Businesses

As mentioned earlier, real estate companies relied on manual processes. 

This meant labor-intensive procedures and more man-hours for the work to be done. The entrance of big data brought about process automation. Big Data uses Artificial Intelligence technology to process huge volumes of data faster and accurately to produce user-friendly data.

With the time-consuming manual processes out of the way, real estate agents now have more time on their hands. Moreover, they are using this time to concentrate on more important business functions such as improving customer relationships. 

Property developers, on the other hand, are using useful data sets to keep abreast with the market changes and adapt quickly as needed.

Source: youtube.com/multifamilyuniversity

Conclusion

Big Data analytics provide real estate stakeholders with access to valuable information drawn from different and numerous sources. This gives a wider scope of data analysis and accurate insights into properties and land. 

Such an approach equips real estate business owners with the information they need to make better development decisions. Similarly, agents can zero in on properties that match their customers’ needs faster and buyers can dig out information about properties before making the purchase decision.

How Modern Tech and Data Management Revamp the Construction Industry

From managing personnel and financial outlay to predicting outcomes and equipment maintenance, the role of data is more critical in the construction industry than you might imagine.

Nowadays, modern tech and data management are revamping the construction industry on the whole. With construction technology investments more than doubling in the last decade, construction practices are changing.

These changes carry significant implications for the industry. From the tech involved to their applications on-site, these are the details you need to know. 

Source: onebyfourstudio.com

The Tech

A host of new technologies is powering innovative construction techniques. These are streamlining the way data is collected throughout development, leading to new and greater insights all the time. 

The construction industry has not been immune to the mobile revolution, in which data-driven oversight has become the new normal – these technologies are revamping everything from site monitoring to building practices themselves.

Let’s check the technologies responsible for this overhaul of construction practices across the board:

The Internet of Things (IoT)

The IoT is an umbrella term that includes all kinds of devices that communicate data over an Internet connection. In the construction industry, they include

  • Asset tracking tools
  • Remote equipment management devices
  • Wearables

These various sensors and monitors can track everything from hazards in working environments to the performance of machinery. 

By using them, site managers gain a comprehensive picture of everything from safety to efficiency. 

Artificial Intelligence (AI)

Through AI, all kinds of construction processes can be evaluated, automated, and improved. That’s because AI technology can evaluate information at human or superhuman levels. 

Using AI-powered systems, construction managers are revolutionizing the way they manage labor and risk assessments. 

Machine Learning algorithms take employee information and automate scheduling accordingly. Workers are evaluated according to their skills and project goals, then the system creates a workflow optimized for project efficiency. 

Similarly, risks associated with a project can be evaluated and reduced through these tools. The AI models risks against existing data, and then produces alerts or recommendations for improvement. 

Source: build-review.com

Augmented and Virtual Reality (AR and VR)

Augmented Reality (AR) represents a visualization of reality overlaid with digital information. On the job, this means interactive displays for equipment and process information. 

With Virtual Reality (VR), users are fully immersed in a digital world. From here, construction professionals can visualize projects and engage in computer-aided design to enhance the efficiency of the process. 

3D Printing

This is an additive construction process that stands to change the nature of construction altogether. With 3D printing, structures can be pre-fabricated with digital precision. 

Additionally, this technology enables the use of new materials and alloys through its unique approach to assembly. The implications include higher quality at lower costs. 

Source: constructionblog.autodesk.com

Robotics

We also have the robotic tools that make construction sites more secure and more efficient. These devices are often paired with AI to complete tasks like

  • Concrete and bricklaying
  • Welding
  • Steel-truss assembly

As a result, labor costs and time are saved, with the added benefit of machine-level quality. 

These technologies are all linked and they gather important construction data, which in turn informs valuable data management processes. 

The Data Management Processes

With all this technology, the data available to construction companies become boundless. Additional tools and processes are needed to evaluate and apply this data. 

Fortunately, the data management tools being employed by construction managers are as vast and powerful as the aforementioned technologies. 

These are just a few of these tools and processes:

Building Information Modeling (BIM)

BIM is a process that has been around a long time but only in the modern time has become commonplace in construction.

BIM entails turning all your collected data into a 3D model of the build, complete with a detailed building process. These models are also interactive and integrated with your building schedule. 

Having this oversight is essential enough that 78% of building companies view BIM as the future of project information. 

Source: conceptarchitecturaldesign.blogspot.com

Digital Twinning

Digital twinning is a process that is highly similar to BIM in nature. That’s because it uses data to model a build, piece of equipment, or procedure. 

With digital twinning, real-time data is fed into a smart module that runs AI algorithms to determine efficiency and predict problems. On the job site, this helps to reduce risks. 

Computer-Aided Design (CAD)

CAD is another data management tool in which a computer assists the design process. It can be used in everything from laying out the construction site to building a project workflow. 

Project managers employ this tool as they create precise models of buildings. As a visual aid, it helps ensure that every element of a design is considered and optimized before construction even begins.

Source: csiestimation.com

Integrated Project Delivery (IPD)

Then we have Integrated Project Delivery. IPD represents the compartmentalizing of project elements through data analysis to produce a highly targeted and flexible lean construction process. 

This process strives for efficiency through collected information from all stakeholders in a project. From here, collaborative tools are used to streamline data into ideal project conditions.

Cloud-Based Construction Management

Of course, many of these data management processes would not be possible without the use of cloud-based construction management systems.

Cloud systems are perfect for data visualization and workflow management. That’s because these collaborative technologies safely store data in accessible forms, lending to the collaborative ability of all stakeholders.

Services like Google Cloud can be employed to create tailored data experiences, which then result in broad project oversight. As a result, managers can revamp the entire construction process with measurable, intelligent efficiency. 

Source: constructionblog.autodesk.com

What These Modern Tools Mean for the Construction Industry

You may understand the functionality and usefulness of all these tools, but what are their direct implications for the construction industry?

Overwhelmingly, these implications are positive. With data and technology, we can streamline productivity and reduce risk at every stage of construction. 

Additionally, the digital transformation is a goldmine when it comes to cost reduction. Primarily, this is due to the effects it has on finances, staffing needs, and innovation potential.

Finances

Technology helps cut construction costs through planning, prediction, and efficiency. That’s because the data-driven and digital nature of these tools allow project managers to effectively correct issues as they occur.

For instance, nearly 70% of projects fail to come within 10% of their budgets, while 30% of all construction work is rework.

By employing digital tools to model both these aspects at every stage of construction, labor and materials costs are reduced. 

Staffing Needs

Another key element of efficiency and cost reduction empowered by technology is the management of staff.

Labor costs make up around 20%-40% of overall construction costs. Reducing these through AI-assisted scheduling and workflow automation is possible with these modern tools. 

Source: imc-cpa.com

Innovation Potential

Finally, modern technology and data management enable greater levels of innovation than ever before. With all the insights from the data, you can better identify pain points and their solutions. 

Construction managers are using devices on the IoT alongside data management processes to model better processes. Then, analytics tools predict the effectiveness of any experimental solution before it takes physical form. 

The result of innovation means reduced costs and can even translate to more sustainable building procedures. These benefits give every construction company reasons to adopt new and transformative tech

Conclusion

With modern tech and data management, the construction industry is being continuously revamped. Greater insight from data enables productivity to rise while costs go down. 

Project managers should implement these technologies for greater efficiency onsite and for a competitive edge in our new digital world. 

10 Valuable Tips on How to Choose an Automatic Generator Software

Since more users are accessing the internet, it has become increasingly important to make your content easily accessible.

To maximize user engagement and content visibility, it is critical to make your content accessible to ALL users, including those with disabilities or who speak a different language than yours. 

For example, subtitles in video content can make it more accessible. However, transcribing manually would take a long time and would be very tedious.

Thankfully, there are several automatic subtitling software programs available today that automate this process. Nonetheless, with so many programs available today, choosing the best one can be difficult.

In this article, we will provide you with 10 tips on how to choose an automatic generator software in order to help you make an informed decision.

Let’s dive right in.

Source: broadcastnow.co.uk

What is Automatic Subtitle Generator Software and Why Should You Use It?

An automatic subtitle generator software automatically creates and adds subtitles and transcriptions to your video or audio files.

By using automated software and adding subtitles and transcriptions to audio and video content, you will be able to take advantage of a wide range of benefits. 

Below are listed some of the most relevant benefits.

Improves the Accessibility

As mentioned in the introduction to this post, adding subtitles to your video or adding text to your audio files could dramatically improve accessibility.

With subtitles and transcripts, for instance, you can ensure that people with hearing impairments can understand your content. For those who speak other languages, it is also easier to read the captions instead of listening to the audio.

Transcripts and subtitles can also provide greater accessibility for those who find themselves in specific situations where they cannot hear audio, such as when they are in a crowded place or unable to hear it clearly.

Saves Time and Effort

It can be quite tedious and challenging to transcribe each word in your video and audio files by hand, as it requires considerable precision and time spent listening and relistening to the exact wording in your files. 

In contrast, automated subtitle generators let you generate subtitles and captions in just seconds, with high rates of accuracy that can easily reach 100% through a few manual adjustments.

Source: pinterest.com

Ease of Scale

Transcribing an audio or video file manually involves a strict limit on the number of transcriptions you can perform each day, week, or month.

As a result, you may struggle to share and publish content as quickly, which can hinder your sales, traffic, and growth.

Automated transcription software, on the other hand, enables the transcription of a large number of files quickly. As a result, you can continue uploading, sharing, and creating content without having to wait for the transcription to be done.

Enhances Content Value and Increases Ranking

Video content cannot be viewed or listened to by search engines. As such, video and audio files by themselves will not contribute to the overall optimization of your content.

By contrast, if you transcribe or caption a video or audio file, Google bots will be able to read your transcriptions and determine what the video is about.

This may improve your website’s indexing and rankings in search engines, resulting in more traffic and visibility.

Higher Engagement

According to the research, videos with subtitles are significantly more engaging than videos without subtitles

A possible reason for this is that the content is accessible to all, and anyone can view the videos and understand the context regardless of their location, e.g., in a noisy environment.

Increases Video Reach

The audience on social media platforms like Facebook and Instagram prefers to watch videos with subtitles since they get the information they’re looking for quickly without having to listen. 

Source: azimuthsoft.tv

10 Valuable Tips to Choose the Right Automatic Generator Software

Consider Your Budget

If you’re a small company or individual with a limited budget or none at all, pricing is obviously one of the first factors to keep in mind when choosing automatic generator software.

Software with affordable rates exists, but other software is more expensive, and these costs may weigh heavily on your finances. 

When this is your situation, be sure to select software that provides the best balance between cost and performance.

Source: happyscribe.com

Ensure a Quick Turnaround Time

When you plan a content calendar, expect to publish content on a specific date, and this content includes subtitles and transcription, then the turnaround time offered by the software is crucial.

Obviously, transcribing or adding subtitles to videos or audio is obviously subjective to the length of the recording, as well as the service you select.

Some companies, for instance, let you choose between automatic subtitles and human-made subtitles. There may be a slight difference in the accuracy percentage, but turnaround times can vary greatly, from 5 minutes for automatic transcriptions to 24 hours for human transcriptions.

Verify Providing High Accuracy Rates

The accuracy percentage represents the percentage of words that were correctly transcribed from your audio or video file.

It is obvious that a higher percentage is better. Select software that provides an accuracy of at least 85%.

Obviously, this is also a factor that can affect the choice of your automatic generator software.

Check for an Editor Dashboard

Whether you are transcribing or adding subtitles to video content, or transcribing audio files, you may find that, sometimes, some of the words generated by the software do not match the originals.

Usually, this occurs when audios or videos have distorted sound, low volumes, and unclear words or phrases.

In such a case, you may wish to have a chance to edit the transcription, since you likely know exactly what is being said in your content.

It is therefore important to check whether an automatic generator software includes an editor before choosing and paying for it.

In addition to ensuring the accuracy of the transcription, the editor may also offer customization options, such as the possibility to change the text color and size, edit the subtitle limit, and choose characters per line (CPL) and characters per second (CPS).

Source: veed.io

Check Out Languages It Supports

You may not only want to transcribe your content in its original language but also translate it into another language to ensure maximum accessibility.

If this is the case, then you must make sure that the automatic generator software supports various languages or specifically the ones that you need.

Source: tdftips.com

Check if Upload Limits

Depending on the software, the length and size of audio and video files you can upload may be limited.

If you need to transcribe or add subtitles to a large or long piece of content, you should take this into account when selecting the software to use.

In general, the fewer upload limitations there are, the better and more convenient it will be for you.

Look at Importing Options 

Another thing to consider when choosing an automatic generator software is its import capabilities.

As a matter of fact, your audio or video file may be in a certain format, and it is crucial that the software supports it, so you do not have to spend time converting it to another format.

Consider Available Export Formats 

Your audio or video content may need to be in a format that is supported by the platform where you intend to distribute it. 

In this regard, it will be convenient for you to choose software that automatically exports the files in the format you require.

Therefore, before selecting the software, please make sure that it supports exportation in multiple formats. The more options it offers, the better.

Source: beecut.com

Make Sure It Integrates Well with Other Apps

If you need to transcribe or add subtitles to your content faster and more easily, you may want to use other applications.

As such, when looking for automatic generator software, it is vital to ensure it can integrate with other popular apps. For example, you might want to integrate YouTube for importing and sharing videos directly.

Therefore, ensure the software you choose integrates seamlessly with all of the applications you intend to use.

Ensure it Allows Easy Sharing

As soon as the transcription or subtitles of your audio or video file are ready, you may want to share it directly from the platform of the production, in order to make the sharing as quick and easy as possible. 

You may also wish to share the content with the rest of your team so you can collaborate on it. 

Thus, ensure that the automatic generator software you choose includes easy collaboration and sharing features.

Source: deskdub.com

Wrapping up

By using an automatic generator software, you can save the time and effort you’d otherwise spend transcribing audio and adding subtitles to videos.

As more and more people are using automatic generator software, more options are available on the market, making it difficult to choose one.

Nevertheless, the tips provided in this post will certainly help you make an informed choice that will help you achieve your goals.
If you want to read more about AI, please check out this article on how AI can help you succeed in business writing.

Are Open Source Solutions Good for Your Software Development?

The Internet has pushed forward software development, allowing programmers around the world to connect and share ideas. 

Open source software is one of the great victories of this dynamic connection. Open source software enables hundreds of individuals to collaborate, solve problems, and design new programs, such as the Book of Ra spielen, that we can all benefit from. 

We’re going to look at open source solutions, and what they can do for your software development.

Source: zivtech.com

What Is Open Source Software?

The global computer software market is dominated by giants such as Apple and Microsoft, companies that have risen to the top selling software and hardware. 

In contrast, open source types of software are made available to both users and programmers completely free. One of the biggest examples is Mozilla Firefox, one of the most popular browsers, and one that is also completely free. The Linux operating system is another example. 

These open source softwares are available to users for free, but more importantly, they’re available to programmers. The source code is readily available, meaning that programmers can use it to create their own versions, and change any issues with current versions. 

It’s essentially free to all, and it offers a number of major benefits

Source: fosbytes.com

Open Source Software Benefits 

Solving Problems and Bugs

One of the main benefits of the latest software version is the fact that anyone can work on resolving bugs in a program. 

Rather than relying on a dedicated team, open source software is modified and improved by designers all around the globe. This international community is able to bring diverse approaches and experience to software development, resulting in a constantly peer-reviewed approach to software development.

It’s particularly effective at resolving any bugs and issues that may be present in a program, making it available at its very best.

Source: awonits.com

Customization

One of the big draws of open-source software is the possibility of customization

Thanks to the open source code, developers can fine-tune a program, changing interface functionality. This is particularly useful with things like browser plugins. 

As Mozilla Firefox is open source, developers are able to easily create browser plugins that enable users to customize how they use the browser, adding things like media players or advanced search settings.

The Personal Benefits of Open Source

Open source customizable software provides more than just improved access and customisations. 

There’s a good reason why so many people are involved with working on open source. It’s a great way to learn programming, and to get experience with a range of different programs. It’s also a great way to become involved with a community. 

Open source programming generally depends on cooperation, with programmers keeping each other in the loop about the latest developments. This massive online community can help you network, and earn something of a reputation for yourself.

Source: gravewebservices.co.uk

Promoting Yourself

Thanks to this extended community, open-source programming is a really effective way of promoting your talents as a software engineer

If you’re good at what you do, the huge range of different open-source programs give you the chance to demonstrate your skills. As a result, it’s possible that you’ll be able to find more work, either as a freelancer or with a larger company. 

Likewise, if you’re a business owner, encouraging your employees to get involved with open source planning is a good way to promote your workforce and their problem-solving skills.

Giving Back to the Community

Open source programming isn’t exactly charity work, but it does thrive on a certain altruistic spirit that is worth more than money. 

Many professional programmers actually derive far greater satisfaction from their open source work than their other work. This is because this kind of programming gives you the opportunity to give something back to the online community, and the broader world of an open-source software developer. 

Given how many people depend on open-source software for a wide variety of different purposes, it’s great to have the opportunity to pay something back for something freely available online.

Reduced Costs

A particular benefit of using an open-source software system, whether as an individual or as a business owner, is the obvious cost benefits

While many software solution options are available as entire packages for extremely high prices, open-source is available completely free. Plus, thanks to the customization benefits we’ve already mentioned, you’re able to get exactly what you need out of the programs without any superfluous extras. 

This is particularly useful for businesses, as you’re able to provide your employees with a range of different tools and programs completely free.

Source: opensources.solution

Improved Transparency and Security

With proprietary software, you’re never completely sure what you’re getting. Most companies work extremely hard to ensure their code is completely secret, as it’s the foundation on which their business is based. 

Open source, on the other hand, is completely transparent. If you know what you’re looking at, you’re able to tell from looking at open-source code whether the program is any good or not. With proprietary software, it’s impossible to see the code, and impossible to tell. 

On top of that, the transparency of open source is great for added security. You can see exactly what’s on offer, and avoid any potential security risks.

Source: medium.com

Easy to Rely On

Open-source software is of particular value to individuals or businesses embarking on long-term projects. 

This is because there’s no threat that the software is just going to vanish one day. Companies go under every day, leaving their software exactly where it was when they packed up. 

Companies also discontinue software packages or create new versions which may lack key aspects of previous versions. Open source has none of these issues. 

If you’re using a program for a long-term project, or simply favor it over other options, you’re guaranteed that it’s going to be around whenever you need it.

The Disadvantages

We can’t pretend that there aren’t any disadvantages of open source

One of the most obvious ones stems from the fact that this kind of software depends on a diverse range of different individuals. As a result, it’s not like there’s a dedicated support line for you to contact if something isn’t working properly. 

On top of that, if you want to work with only open-source when developing your software, you’ll never have the same level of intellectual rights as with proprietary software. 

Unfortunately, two of the biggest advantages of open source also have the potential to be disadvantaged.

Conclusion

All in all, the benefits of open source software development in 2021 outweigh the disadvantages. 

It’s simply convenient and diverse for a developer not to bother with. The above should give you some idea of the opportunities on offer and how to make use of them. 

Once you start integrating these kinds of programs into your business and development model, you’ll quickly see what makes them so special.

6 Benefits of Using Free and Open Source Software

When selecting technology for your business, you want to ensure that the solutions you pick grow with your organization. So, as you secure your systems, open-source software can be a practical consideration to help your ever-growing business.

The widespread adoption of open-source technology helps improve your products and services, as well as your internal services. In addition, these types of systems can give you the flexibility you need to hack your growth consistently. 

If you want scalable growth, free and open-source software should be the way to go. Here are 6 benefits of using free and open-source software for your business and your daily use.

Source: pinterest.com

Cost-Effectiveness

Apps are a must in almost every business scenario. Then again, app development is quite expensive, especially for enterprise solutions. Relying on in-house developers can cost a lot of time and money that most organizations don’t have. When you rely on other providers, cost and lack of creative control become an issue.

With free and open-source software, your cost is almost zero, if not 100% free. As many of these projects are public, you can get nearly everything for free. Even software that has a separate personal and enterprise version will cost much lower than its competitors.

Free apps not only save you a lot of money but also help reduce your overhead costs, especially if you’re a small business. As your business grows, you have several options to keep up with your needs. You can continue to use the open-source software, modify it to create an internal network, or move on to more powerful enterprise software.

Source: seotowebdesign.com

Customization

In the past, many businesses created software to help build towards better hardware innovation. From machine learning algorithms to word processing, many did not consider software as a business asset. That all changed over time, as computers can do more and software has become more powerful.

Not every software can do everything that its users need. In many situations, there are niche use cases that many enterprise software doesn’t cater to. With open-source software, you can see the software’s source code and make necessary adjustments to cater to different needs.

With the right improvements, software engineers can create forks that provide a more bespoke solution. Some add plugins that allow the software to interface with other software and expand on its functions. Mods also alter the code in its entirety to alter existing functions.

Source: racked.com

Better Privacy

One common issue for many closed-source apps is the level of privacy they have. Privacy is essential, especially for businesses that are looking into sensitive and classified information. Unfortunately, some software spy on their users through data diagnostics and analytics data, whether we like it.

Within the sea of legal information hidden within a EULA, some companies have their apps scan your hardware by default. Some do so to improve on the software and use real-time analytics to create patch fixes. Others simply have a hard drive scan baked into their software to give them access to information without warning.

Open-source, free software mostly has an entire community handling its integrity verification, including source code reviews. Most communities religiously data mine source codes to search for potential issues. It is doubtful for open-source software to have privacy-invasive code in it.

Source: deltaclicks.com

Flexibility

A primary benefit of free, open-source software is the level of flexibility that it provides your business. As we noted before, companies and individuals are free to modify and improve on the open-source software they get. This allows customization from the ground up and helps create custom solutions. This is not the case with proprietary software.

Most proprietary software leaves you at the mercy of its updates. Depending on the type of software you have, you will likely ask the developers for features you need, usually on their forums or through support. However, whether they roll out the community’s desired features is a gamble, and it might never happen.

With open-source, you can flexibly remove components that you believe are simply bloat. In the same vein, you can also add features that you want and fix issues as you see fit. With enough customization, you can have software do all your needs without waiting for a third party to do it for you.

Source: shitesourcesoftware.com

More Security

Many disparage free and open-source software for their security issues, noting how the public source code can result in exploits for a company. However, the truth is that an open-source app can have much tighter security than a proprietary system due to the community in charge of the changes done for the software.

In developer communities, many rely on stable builds that take in community input, mainly for security. Even test builds undergo rigorous checking from the community, primarily to ensure that the developers do their jobs correctly. Some programs also have devs who look for exploits and report them to others.

Open-source addresses potential bugs and communities can create fixes for them. As long as the software has a big enough community, you can expect very low risks. You can expect transparency, as well as protect yourself from common issues associated with proprietary software.

Source: linuxids.org

A Community Around 

We’ve talked about the open-source community repeatedly over the past few entries, and this advantage is distinct for such software. Open-source relies on its active community of not only developers but also enthusiasts and creatives. The bond that connects people comes from a drive to support and improve the user experience for the solution.

Communities around software are perfect not only for individuals but also for businesses. Many have the common goal of improving the software, adding features to it, and customizing it for their needs. While proprietary software companies have dev teams, open-source have entire communities that outsource the work among themselves.

The collective power of individuals who come from diverse talents and backgrounds can be powerful. It can help secure the software, improve it further, and help with its longevity.

Source: webmobyle.com

Final Thoughts

Free and open-source software is the basic building block of a free and open internet. As software continues to evolve, businesses can rely more and more on software that came from the arduous work of talented developers and creators worldwide. If you consider if open-source apps are right for you, these benefits should help you make the right decision.

Key Benefits of Warehouse Management System (WMS) solutions

Modern companies are compelled to redesign their methods to sustain and expand in any market or industry.  For example, if you’re in the eCommerce industry, there are plenty of modern software solutions to help you keep your operation running smoothly. 

For retail, supply or any other industry which deals with warehousing, Warehouse Management System (WMS) is a necessary solution – not only it helps you to reduce human errors and increase productivity, but it also assists in handling warehouse operations like inventory, labor or supply chain management etc. making running your business more efficient and smooth

Source: visionbarcode.com

What is a Warehouse Management System?

Warehouse Management System (WMS) is a software solution supporting your operational activities like inventory, product refill, stock refill and more. 

You will be able to offer your customers the best quality service by knowing your warehouse condition – where are which products, what to order and how much it takes, etc. Such a solution makes your business operations easy to run.  

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WMS Key Benefits

There are many benefits of WMS system, let’s list some of them:

Optimized Space

The WMS system has the ability to analyze the best usage of your storage space as per tasks and material aspects thus optimizing your warehouse flow. Utilization of floor plan analysis is performed to determine h3ow to use the space in the best way. 

Such an approach also lessens potential costs resulting from excessive material movement and retrieval. 

WMS solutions can help maintain product rotations (FIFO, LIFO, FEFO, HIFO, LIFO) no matter the rotation rule required. 

The WMS system enables you to make any adjustments necessary to maintain the best inventory location selection and also helps you to overview physical product movement and workers performance. 

By considering the best locations to put your products can also reduce your operating expenses. 

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Inventory Updates

Automatic update and managing product stock in real time is one of the benefits of the WMS system. The entire WMS minimizes chances of over selling and prevents the entry of redundant results. 

WMS will provide visibility of real time inventory levels – it will enable your company to estimate its own supply and avoid backorders. 

WMS, if used with scanning, RFID etc., can ensure visibility at the location and reduce the situations where inventory can become lost or misplaced within the warehouse. 

If you integrate your WMS with ERP, you can provide precise details on how some products perform thus getting certain forecasting features. With this information at hand, planning officers can make reliable decisions on which products to adjust for the company so to mitigate any losses. 

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Improved Labour Productivity

WMS can better appoint tasks to the right persons at the right time. You can use labour forecasting, allowing WMS to assign daily tasks and efficiently outline schedules. 

One of the greatest WMS benefits is optimization of travelling time within the warehouse. 

By scanning items at warehouse entry can eliminate the need to double check the work thus saving time and quickening the entire process. 

The result is labour, equipment and space efficiency which are optimized by an appropriate work assignment. 

Internal Automation

WMS enables you to leverage additional automation technologies within your warehouse. 

You can further simplify the entire process and scale up if you use mobile devices – mobile can assist transition from paper to electronic logging plus it can greatly automate internal work responsibilities. 

Such an automation supports continuous improvement in existing warehouse operations giving you an opportunity to improve your strategies. There are many levels of automation – from automated packing, robotics, analytics driven movements and more. WMS helps such strategies by contributing basic elements to record and communicate activities. 

Sensors, barcodes, voice and automated carousels can increase output if integrated to WMS by monitoring packing activity. 

Implementation of robotics and automated conveyors can streamline your warehouse operations and reduce impediments. 

Optimized Supply Chain

WMS streamlines your entire warehouse operations from the initial inputs to output deliveries  thus improving the efficiency and reducing costs. Usage of WMS can be extended to a wider supply chain. 

Warehouse workforce can achieve fast and accurate shipments by reducing non-productive activities. This can also help your internal or external partners allowing them to improve their own operations as well.  

For example, improved data can reduce risks, improve reliability and present a great benefit to shippers, suppliers and customers. The data can further be shared to your ERP system, a TMS (transportation management system) or a customer.   

Cloud-based WMS almost immediately returns a lower cost of ownership as there is no need for hardware, software or IT engineers as opposed to companies with an on-premise WMS. 

WMS enables your company to deliver products to customers more quickly while allowing partners to improve planning. 

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Improved Tracking

WMS enables you to easily trace inventory materials using Iot, batch and serial numbering. Such numbers indicate the group where items were made and the serial number identifies a specific item. 

If you utilize WMS inventory tracking, you can enable full traceability of incoming receipts and outgoing shipments. 

Such actions allow you to perform inventory planning more accurately and lowers any potential redundancy. 

Improved Shipment Management

Just like WMS can be connected to TMS to optimize supply chain processes, the same way warehouses can improve faster customer order cycle time. 

With WMS, managers can select zones or batches thus picking and packing products more effectively. Additionally, customers can receive early notifications on shipments and the way the products are sent – such options enable quicker customer order cycle time. 

A good WMS should also have a proper validation system – it ensures that the correct items are shipped to your customers as too many incorrect shippings can be a real profit killer. Make sure that your WMS has the means to check your orders as it will ensure that all items match up the items on the sales orders. 

Furthermore, barcode scanners prevent mistyping the numbers which greatly reduces errors. Usage of scanners in picking orders will make sure that your inventory is being put away in the correct area. 

WMS enables advanced shipping notifications which creates bonds with your customers improving the overall customer satisfaction. 

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Data Driven Decisions and Analytics

If you want to run a more successful business, utilize a wide range of performance analytics that a modern WMS offers. Such reporting will point out how successful (or not) your team is at delivering products to your customers. 

Understanding WMS analytics abilities requires to watch the core metrics that can help you to see a clear picture of your business. One of the examples is the total landed cost for each product which can provide you with an insight into what drives your revenue. 

Another important metric to follow is a completed inventory optimization as this data allows you to confirm what stock you have, where to place it in your supply chain and generally, how to optimize your inventory budget. 

Restock analytics enables you to integrate your orders across multiple levels (wholesalers, retail partners etc.)

Procurement analysis within WMS will help you to determine vendor costs and quality along with the ability to track their ‘historic’ performance. 

Such performance metrics should track the entire process, from receiving to timeliness of your order completion. WMS will allow you to grasp the overall performance to deliver analysis related to teams or individuals. 

All in all, WMS helps you to track each item with serial numbers in your warehouse more easily as well as to anticipate future inventory problems more precisely enabling you to make key decisions more accurately and in real time. 

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Better Efficiency and Ongoing Improvement

WMS systems are designed in such a way that it enables continuous improvements – it maintains the warehouse efficiently keeping up with the current modifications. If you have cloud-based WMS, it automatically updates, thus instantly reducing the costs of having an IT team. 

Using WMS will reduce the time warehouse staff spends on filling the orders, resulting in more automated processes for work staff and the overall warehouse efficiency. 

No matter if your warehouse is small or large, a WMS system will help you to increase your profitability and mitigate errors. 

Final Say 

Nowadays, competition is extremely high and it is vital for your business to stand out with bleeding-edge technology – WMS will surely bring you the reduction of costs and seamless operations. You can also alleviate risks more efficiently and improve the overall productivity and the business’ profitability. 

That is the very reason why you should get started with an advanced Warehouse Management System today, but be careful and consider which choices are important for your own business.