Reporting Solutions Pty Ltd
How to transform big data into valuable business intelligence
|Posted on March 1, 2018 at 11:55 PM|
While obtaining information is easy for most businesses, the challenge is to use it intelligently. There’s an abundance of data out there, but limited valuable insights. As a result, many companies are not trying to make sense of their raw data, even though it has the potential to grow their business exponentially. This is a clear mistake – research shows that when companies don’t leverage the insights from their data struggle to identify threats or opportunities, leading to sluggish performance and slow growth. On the other hand, those that generate valuable information from their data are far more equipped to innovate, reduce their risks and address business challenges with confidence. After all, would you prefer to make decisions based on your gut instincts or well-informed facts?
Embracing a data-driven culture
Making data intelligence a priority requires a shift in mindset for many organisations. It’s essential to make data intelligence a KPI, with backing from business leaders and stakeholders. Personnel and processes are an important consideration in this process. Does your team have the right set of skills to understand data and know how to leverage it? Are you actively engaged in using data insights to improve aspects of the business? If the answer to either of these questions is no, it’s probably time to allocate resources into developing a more data-driven culture.
Management software is key
In conjunction with your workplace culture, the secret to business intelligence is having the right tools in place. Having high-quality management software will help you make sense of information by producing useful and productive insights. Here are some ways software can make your data more meaningful and your life easier:
Consolidating your systems
When your information is spread throughout disparate systems, it’s harder to make sense of it all. For example; if your current system doesn't integrate with your warehouse, inventory, CRM and other business functions, it's holding your business back. The best view of your business is a comprehensive one. Good management software will help provide a clearer understanding of opportunities, threats and resources.
Reducing the need to re-enter information
If you’re having to constantly re-enter your data between systems, not only is your valuable time being compromised, but you’re more likely to experience input errors which can compromise the accuracy of data analysis. By cutting out this task, you can use your time more effectively and make more informed decisions.
Generating reports in real time
There’s no point having information in front of you if it’s too tricky to understand. Quality management software will create easy-to-interpret, customisable reports that help you keep track of all your different units.
Scalability as your business grows
Growing businesses need data intelligence more than ever to ensure they’re moving in the right direction. Management software that can’t accurately, securely or efficiently manage data will stunt your growth, while scalable infrastructure will encourage and enhance it.
Want to become a more agile organisation? In today’s data-driven business climate, investing in a system allows you to maximise data intelligence is key. Business management software can help you iron out threats and take advantage of new opportunities. Jiwa will provide the software that’s right for you, helping you enhance your time and efficiency for more informed decision-making. For more information on the benefits of an intelligent management solution, contact us today.