Monday, 21 July 2014

14 Strategies To Make Better Decisions In Any Situation

When faced with a decision, we generally consider only the most obvious and visible information, according to Chip and Dan Heath, authors of "Decisive: How To Make Better Choices in Life and Work."
However, that's rarely all we need to make a good decision, because we end up missing important facts outside of our immediate view.
In their book, the Heath brothers share the "four villains of decision making," which often mislead us in our choices:
  • Narrow framing causes you to focus so much on your immediate choices that you miss other options.
  • Confirmation bias leads you to seek out information that will confirm what you already believe.
  • Short-term emotion blinds you from making the right choice, even if it should be completely obvious.
  • Overconfidence makes you believe you know more than you actually do.
Fortunately, the Heath brothers also share some solutions to these problems. Here are their 14 best strategies for making wiser decisions in any situation.

Avoid narrow framing by widening your options:

1. Consider the opportunity cost. When you are shopping, you generally consider only the choices of "buy" or "don't buy." You don't realize that the money saved can be applied to another purchase. For example, if you don't buy a television, you can use the money to go on vacation. This additional option will help you consider whether you can derive more satisfaction from other options.
2. Run the vanishing options test. Ask yourself what else you could do if you didn't choose any of your current options. If you are deciding whether to fire or keep an underperforming employee, for instance, imagine that both options are not viable. Then, you would be forced to come up with alternative solutions, such as moving them to a new department or talking with them to figure out what's wrong.
3. Multitrack. Consider more than one option simultaneously. Some companies give the same assignment to different teams, so they can consider the solution from new perspectives. Try to think in terms of this AND that, instead of this OR that. For example, rather than thinking just about how to limit stress, you might also consider how to boost happiness.
4. Find someone else who's solved your problems. The Heath brothers pose the question, "Why generate your own ideas when you can sample the world's buffet of options?" Look at best practices that other people have used. For example, if you own a struggling grocery store, look at how other grocery stores are performing and the ways they have solved similar problems.
5. Use analogies to help you think outside the box. In their book, the Heath brothers give the example of a designer who wanted to design a speedy swimsuit. She decided to analyze other things that move fast, such as sharks and torpedoes, which gave her a new source of inspiration.

Avoid confirmation bias by reality testing your assumptions:

6. Consider the opposite of what you believe. Actively seek disagreement by asking disconfirming questions. The Heath brothers use the example of iPod buyers, saying they should ask themselves what problemsthe iPod has before making their decision based on its benefits.
7. Zoom out. Look for an outside perspective on your specific situation. Read reviews, data, and advice from other people who have made similar decisions. If you are a restaurant owner, you can't rely on the belief your restaurant will be a big hit. Instead, you should analyze your restaurant within the pool of other restaurants you are competing against.
8. Use the "ooch technique." This involves running small experiments to test theories before jumping in headfirst. For example, before choosing your future career path, volunteer as an intern in the field to get a feel for how you like it.

Avoid short-term emotion by attaining distance before deciding:

9. Use the 10/10/10 technique. Imagine how you will feel about a decision in 10 minutes, 10 months, and 10 years. This will help you consider future emotions as much as present emotions. For example, if you want to send an angry email, you probably won't feel too good 10 minutes after.
10. Use the best-friend technique. Consider your decision from an observer's perspective and highlight what's important. Ask yourself what you would tell your best friend if they were in the same situation as you.
11. Honor your core priorities. When you have trouble making a decision, it usually means you are struggling to figure out what you desire in the long term. The Heath brothers say, "We must go on the offense against lesser priorities." They cite the example of Jim Collins' "stop-doing list,"which is a list he makes of what he is willing to give up to have more time for his priorities.

Avoid overconfidence by preparing to be wrong:

12. Bookend the future. Plan for a range of outcomes from very bad to very good. Keep in mind that the future is not a "point," but rather a spectrum of options, so there are many possibilities of what could happen.
13. Think in terms of pre-mortems and pre-parades. Use pre-mortems by thinking about how a decision might fail and how to minimize the harm. On the other hand, you should also consider pre-parades, or thepotential consequences of being successful. For example, if your business does well, you'll need to make sure you have enough supply to meet consumer demand.
14. Set tripwires. These are triggers to jolt you out of your routine and remind you to evaluate your decision in the future. For example, you should set a date where you will be held accountable for what you predict, so that you can reconsider your decision if you're failing to meet your goals.

The 12 Most Popular Free Online Courses For Professionals

Want to gain an edge in your working life? Learning new skills online doesn't cost you anything but time.
Based on data from online education platform Coursera, we compiled a list of the 12 most popular, free online classes for working professionals.
Here they are, ranked by popularity:

1. Wesleyan University's "Social Psychology"

Coursera's most popular course offers an introduction to classic and contemporary social psychology, covering topics such as decision making, persuasion, group behavior, personal attraction, and factors that promote health and well-being.
Starts July 14

2. University of Maryland's "Programming Mobile Applications for Android Handheld Systems"

This is an introduction to the design and implementation of applications for handheld systems, such as smartphones and tablets, running the Android platform. It is part of a larger sequence of specialization courses calledMobile Cloud Computing with Android.
Starts September 26

3. Duke University's "Think Again: How to Reason and Argue"

This course will teach you how to reason well. You will learn how to understand and assess arguments by other people and how to construct persuasive arguments of your own.
Starts August 25

4. Duke University's "A Beginner's Guide to Irrational Behavior"

In this course, you will learn why we don't always behave rationally, and how we might overcome our shortcomings. You'll also learn about cases where our irrationalities work in our favor, and how we can harness these human tendencies to make better decisions.
Start date TBD

5. University of Toronto's "Learn to Program: The Fundamentals"

This course introduces the fundamental building blocks of programming and teaches you how to write fun and useful programs using the Python language.
Start date TBD

6. Stanford University's "Startup Engineering"

This course will help you bridge the gap between academic computer science and production software engineering. It's a fast-paced introduction to key tools and techniques, featuring guest appearances by senior engineers from successful startups and large-scale academic projects.
Start date TBD

7. Yale University's "Financial Markets"

You'll gain an understanding of the theory of finance and its relation to the history, strengths, and imperfections of banking, insurance, securities, futures, and other derivatives markets, as well as the future of these institutions over the next century.
Start date TBD

8. The University of Pennsylvania Wharton School's "An Introduction to Financial Accounting"

This course will improve your fluency in financial accounting. You will learn how to read, understand, and analyze most of the information provided by companies in their financial statements.
Starts September 5

9. University of Washington's "Introduction to Public Speaking"

In this class, you will study the principles of public speaking and critically examine your own and others' speeches through interactive practice. By the end, you'll understand the process of writing, practicing, and presenting a clear and engaging speech.
Start date TBD

10. University of Michigan's "Introduction to Finance"

This course primarily focuses on the fundamental principles of valuation and how to apply the concepts of the time value of money and risk to understand the major determinants of value creation.
Starts October 6

11. The University of Pennsylvania Wharton School's "An Introduction to Marketing"

This course will teach the fundamentals of marketing by getting to the root of customer decision making. It will focus on branding strategies, customer centricity, and new market entry.
Start date TBD

12. Johns Hopkins Bloomberg School of Public Health's "Data Analysis"

Through this applied statistics course, you will learn about the most effective data analysis methods to solve problems and achieve insight. You will cover some of the most popular and widely used statistical methods like linear regression, principal components analysis, cross-validation, and p-values.
Start date TBD
Source  from : 
http://www.businessinsider.in/The-12-Most-Popular-Free-Online-Courses-For-Professionals/articleshow/38032031.cms#commentHash

Sunday, 20 July 2014

6 powerful facts about Big Data

Enterprises today analyse around 12% of digital data for business gains, as per Forrester. They are yet to realise the potential of 88% of the unstructured data. Lack of analytics tools and "repressive" data silos are the key reasons. At times it is difficult to visualise the value of information, as well.

1) Big data job growth Career website Dice says that job postings for NoSQL experts were up 54% year over year, "big data talent" rose 46%. Postings for Hadoop and Python professionals were up 43% and 16%, respectively.

2) How big will big data get? By 2020, Data universe will grow from 3.2 zettabytes to 40 zettabytes (One zettabyte is roughly a billion terabytes). Till next six years data volume for enterprise will grow 50x, of which 85% will come from new data source.

3) Big data = big bucks Big data also means big bucks. Study from Burtch Works says that in April 2014 base salary for a staff data scientist is $120,000 and $160,000 for a manager.

4) Data scientists: still  Data scientists remain in "high demand but short supply," which translates into generous six-figure salaries for some PhDs with relevant big data experience.

5) Privacy fears won't stop big data In its June 2014 edition, The Economist reports "there is scant evidence that concern about privacy is causing a fundamental change in the way data are used and stored." Nine out of 10 questions on privacy is related to the location of data centers, says the magazine.

6) Big data drives software growth IDC predicts that worldwide software market will grow with a CAGR of 6%. Big data related categories, including collaborative applications and data access, analysis and delivery solutions, and structured data management software will grow with a pace of around 9% CAGR.

Source from : http://www.techgig.com/readnews.php?category=Other+Technology+news&tgnews_link=http%3A%2F%2Fcio.economictimes.indiatimes.com%2Fnews%2Fbig-data%2F6-powerful-facts-about-big-data%2F38599442%3Futm_source%3DRSS%26utm_medium%3DETRSS&tg_type=rss&tgnews_id=49158

Thursday, 17 July 2014

10 IT companies with most difficult interview Process


Professional networking website glassdoor.com recently conducted a survey which reveals 25 companies that conduct the most rigorous interviews. 

Out of the total, 11 companies belong to the technology/IT sector. Respondents, however, said that a difficult interview does not necessarily mean a bad experience, but riddles, written tests and weird questions made it uncommon and brought out their creative side. 

Here we have a look at the 11 technology companies, along with the average ratings (out of 5) given by the respondents on parameters like difficulty level, employee satisfaction rating, and interview experience rating.

1. ThoughtWorks: 

ThoughtWorks is a global IT consultancy company that provides custom software, software tools, consulting, and transformation services. 

Interview Difficulty Rating: 3.6 

Positive Interview Experience Rating: 64% 

Negative Interview Experience Rating: 16% 

Employee Satisfaction Rating: 3.8

2. Google: 

Google offers a host of internet-related products and services, such as search, cloud computing, software and online ad services 

Interview Difficulty Rating: 3.5 

Positive Interview Experience Rating: 45% 

Negative Interview Experience Rating: 18% 

Employee Satisfaction Rating: 4.1

3. Unisys: 

Unisys is an international IT company that provides information technology-related software, services and products. 

Interview Difficulty Rating: 3.5 

Positive Interview Experience Rating: 70% 

Negative Interview Experience Rating: 5% 

Employee Satisfaction Rating: 3.1

4. Rackspace Hosting: 

Rackspace Hosting is a website hosting company that has data centres in various countries and also has an email and apps division. 

Interview Difficulty Rating: 3.4 

Positive Interview Experience Rating: 72% 

Negative Interview Experience Rating: 11% 

Employee Satisfaction Rating: 3.9

5. Cypress: 

Cypress Semiconductor is engaged in designing and manufacturing semiconductors. 

Interview Difficulty Rating: 3.4 

Positive Interview Experience Rating: 76% 

Negative Interview Experience Rating: 10% 

Employee Satisfaction Rating: 2.9

6. Sapient:

 Sapient Corporation is an IT consultancy firm. 

Interview Difficulty Rating: 3.4 

Positive Interview Experience Rating: 75% 

Negative Interview Experience Rating: 6% 

Employee Satisfaction Rating: 3.3

7. Bazaar Voice

Bazaar Voice is a technology company that tracks the connections between prominent brands and their customer base. 

Interview Difficulty Rating: 3.4 

Positive Interview Experience Rating: 38% 

Negative Interview Experience Rating: 13% 

Employee Satisfaction Rating: 3.2

8. Juniper Networks

Juniper Networks is a manufacturer and distributor of internet protocol network products and services. 

Interview Difficulty Rating: 3.4 

Positive Interview Experience Rating: 67% 

Negative Interview Experience Rating: 8% 

Employee Satisfaction Rating: 3.3

9. Headstrong

Headstrong is an IT consultancy firm. 

Interview Difficulty Rating: 3.3 

Positive Interview Experience Rating: 60% 

Negative Interview Experience Rating: 12% 

Employee Satisfaction Rating: 2.9

10. Facebook

Facebook is the world's biggest social networking website with over 900 million users. 

Interview Difficulty Rating: 3.3 

Positive Interview Experience Rating: 51% 

Negative Interview Experience Rating: 19% 

Employee Satisfaction Rating: 4.6