We all like to believe that we understand how our business works. We know the product, we know the process, we even know the customer. But do we really understand how it all works?
It’s easy enough to come up with generalities. When products go on sale, conversion rates go up. When manufacturing costs increase, profits go down. These things are basics.
But what about the more subtle things?
Would it be helpful if we could gain insight not just into the generalities of a business, but insight into all the myriad relationships that affect daily operations? Insights like, how does additional training for your sales people affect conversion rates and is it worth investing in more? How much of a discount do you need to apply to a product to turn a prospective customer into an actual customer during slow periods? How does that change during busy periods? How does an investment in HR training impact employee turnover?
When you go looking not just for the numbers, but the relationships between events across different areas of your business and how they influence key performance metrics, you start to view your business in a whole new way. You start to see things not as a spreadsheet that should always be trending upwards, but more holistically. The problem is, getting that holistic view can be very, very difficult.
Often, organizations have collected huge quantities of data, but they struggle with aggregating and analyzing it. They hire expensive IT teams to help, but so many departments are making demands, IT becomes a bottleneck in terms of access to information. Different departments get frustrated with the delays and spend countless hours tweaking endless spreadsheets, only to run into the double walls of scalability issues and information trapped in data silos. And although spreadsheets, bar graphs, and pie charts are helpful, at the end of the day, your people are still working too hard assembling and analyzing data by hand.
What if you had a unified, accurate view of your business with a tool that could easily pull data from multiple sources and perform a coherent analysis of it—fast? What if you could zoom in for more detail or out for the big picture with just a click or two? What if you could pull data from multiple sources that don’t usually get compared to each other just to see how they each relate not only to your key performance indicators, but also to each other? What if your data could give you clear, actionable insights on a daily basis without you having to involve the IT department at all?
If you struggle with any of the pain points above, maybe it’s time you investigate how simpleBI can transform your use of data and help you gain evidence-based insight (and not just intuition) into what’s really influencing your business.
Can you imagine what your business would look like next year if you started today?
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