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News / Blog: #management

What is project management?

05/15/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

Project management is a systematic approach to planning, organizing, managing and controlling projects. The goal of project management is to ensure that projects are completed successfully by effectively deploying all necessary resources to achieve the defined objectives.

Project management involves various tasks and responsibilities, such as defining project specifications and objectives, planning and monitoring resources, coordinating team members, monitoring project progress, and adjusting plans and budgets to address changes and risks.

Project management is used in many fields, such as IT, construction, product development, and research. There are different approaches and methods for project management, such as the waterfall model or agile methods like Scrum and Kanban. The choice of the appropriate method depends on the type of project, the available resources, and the needs of the customer.

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How do I get a volunteer position?

05/10/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

There are several ways to get a volunteer position in a newsroom. Here are some steps you can take:

Research: identify newsrooms you'd like to work for. Look at what media and publications they produce and what topics they cover.

Make contacts: look for contacts in the editorial offices where you would like to apply. Check out the newsroom's website to see who is in charge of human resources or editorial management and try to contact them. You could also try contacting editors or editorial staff via social media or LinkedIn.

Application: write a compelling application explaining why you want to volunteer in this newsroom, what experience and skills you bring to the table, and what you hope to gain from the experience. You should also include your portfolio or samples of your work to support your skills and experience.

Internships: Also consider doing internships in newsrooms in the meantime to gain experience and make contacts. Internships can often be a stepping stone to a volunteer position.

Network: Go to events and conferences hosted by journalists and editors to expand your network and make contacts. This is also a great way to hear about new opportunities.

It's important to be persistent and determined when pursuing a volunteer position in a newsroom. It can be a challenging and competitive industry, but showing passion and commitment will increase your chances of achieving your goal.

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Customer acquisition in B2B: the most common problems and how to solve them

05/03/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

Customer acquisition in B2B is a complex matter and can be challenging for many companies. Here are some of the most common issues B2B vendors face and how to solve them:

Unclear target audience

A common problem with B2B customer acquisition is an unclear target audience. Companies often struggle to define their target audience and align their marketing and sales activities with it. This leads to ineffective campaigns and low ROI.

Solution: Companies should precisely define their target group and align their marketing and sales activities accordingly. This includes developing buyer personas, describing the ideal customer, analyzing the market and conducting market research.

Lack of lead qualification

Another common problem is the lack of lead qualification. Companies often have many leads, but only a few are actually ready to buy or establish a business relationship. This leads to an ineffective sales process and low ROI.

Solution: companies should ensure they qualify their leads before passing them on to sales. This includes verifying contact information, identifying decision makers, and assessing leads' interest and readiness to buy.

Lack of personalization

Another common problem is the lack of personalization in marketing and sales activities. Companies often use generic approaches to target potential customers, resulting in low relevance and response rates.

Solution: Companies should ensure that they personalize their marketing and sales activities to address the needs and interests of their potential customers. This includes the use of personalized emails, targeted advertising campaigns and a customized approach.

Lack of follow-up processes

Another common problem is the lack of lead follow-up and customer relationship management. Companies often lose touch with potential customers and existing customers, resulting in a loss of business opportunities and customer loyalty.

Solution: companies should ensure they have follow-up processes in place to nurture potential customers and strengthen existing customer relationships. This includes using CRM systems, scheduling follow-up activities, and communicating with customers and prospects on a regular basis.

Conclusion:

Customer acquisition in B2B can be challenging, but with a clear target audience definition, qualified leads, personalized marketing and sales activities, and a well-designed follow-up process, companies can improve their customer acquisition and drive business growth. By identifying and addressing these common issues, B2B vendors can optimize their marketing and sales strategies and achieve more successful results.

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What is actuarial science?

04/13/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

Actuarial mathematics is a branch of mathematics that deals with the application of mathematical methods and models to insurance and risk. The main goal of actuarial science is to quantify risks and develop insurance rates and products that are fair and profitable for customers and insurance companies.

An important aspect of actuarial science is loss analysis and forecasting. Here, mathematical models are used to calculate the probability of occurrence and the amount of losses. Based on this information, insurance companies can assess risks and calculate insurance premiums.

In addition, actuarial science deals with the modeling of insurance portfolios and the risk management of insurance companies. This involves the use of statistical methods and mathematical models to minimize the risk of losses and maximize the profitability of the insurance business.

Overall, actuarial science is concerned with the modeling of insurance portfolios and the risk management of insurance companies.

Overall, actuarial science is an important part of the insurance industry and helps ensure that insurance is fair and profitable for customers and companies alike.

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What does a Data Consultant do?

04/13/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

A Data Consultant is an expert who helps organizations effectively use their data to make informed business decisions and improve performance. The responsibilities of a Data Consultant typically include:

Data Analysis: the Data Consultant analyzes and interprets data to identify trends, patterns, and relationships.

Data Management: the Data Consultant helps organize, integrate, and maintain data.

Data Visualization: the Data Consultant creates data visualizations such as charts, tables, and graphs to present the results of data analysis.

Advising: The Data Consultant advises companies on data-related issues and makes recommendations to improve business performance.

Training: The Data Consultant trains employees to ensure they can use data effectively.

A Data Consultant must be knowledgeable in statistics, programming, and database technology. In addition, he or she must be able to solve complex data-related problems and develop strategic solutions for the business.

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