Do you have 2019 Business Intelligence goals of decreasing expenses or increasing revenue?
They often fall under one of these headings:
Better Customer Knowledge
Greater Overall Efficiency
Improving Risk Assessment
Identifying Future Opportunities
When these targets are getting met, they invariably lead to saving money or making money.
Valuable data accumulates throughout the different areas of every organization and analyzing what gets tracked, generated, collected and monitored as a function of making business decisions makes immediate objectives possible and larger desired outcomes attainable.
Companies thinking they are either too small for analytics or they have to make do with a cobbled-together in-house solution, or be stuck with the limited reporting capabilities of other existing platforms, but knowing they are sitting on data that could be working more for them, can start the transformation gradually.
Whatever the catalyst for implementing analytics or improving what is in place, the endeavour shouldn’t be intimidating and the best approach is to do it incrementally.
One project tackled is better than trying to have an all-encompassing roll out that is long, expensive and disruptive.
Pick an initiative, define the objectives, consult with and involve team members who can contribute to the success of the project.
Maximizing the benefits of pulling meaning from data and adding analytics as a regular practice is an ongoing cycle.
Flexibility is key to progress; be sure to allow for adjustments so there is advancement to the next stage and the next stage and the next stage.
If new people are brought in or outside expertise is required as part of becoming a data driven company, facilitate helpful internal communication so the work being done is part of a shared goal for everyone.
Update the onboarding process for new hires to include data literacy and have resources for existing employees to add data literacy to their skills.
The ability for everyone in the organization to understand dashboards and have confidence in accurate reports that can be generated as each project comes to fruition will build momentum, spark creativity for additional use cases and ultimately buy time.
How? By automating manual processes, eliminating duplicated efforts, stopping the spreadsheet madness and seeing the whole story that lives inside your data from all its sources.
Inevitably someone will ask, why change? Why now? Will problems actually get resolved? Will the results really lead to greater profitability? Where do we start?
These are the right questions and seeing is believing.
BizXcel has built thousands of analytics applications for businesses and organizations in many different industries and sectors.
Getting from here to there doesn’t have to be an added strain on IT.
Book a demo and then let’s talk about analytics strategies to meet your 2019 Business Intelligence objectives.