Find out how you can benefit from Reporting & Analytics
Reporting & Analytics
Every business needs a robust business intelligence strategy for data analytics and management of business data to help teams make more data-driven decisions, and get a competitive advantage over other businesses. Reporting and analytics have the power to fundamentally change the way a job is performed, as every step can be planned based on real evidence. With the advent of customisation, data engines and dashboards that can be molded to suit every departments’ business needs, it is becoming more 'standard practice’ for all size of organisation to have some element of 'data driven decisions'. The term 'Big Data' no longer needs to be big!
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Reporting & Analytics
The rich variety of data that enterprises generate contains valuable insights, and data analytics is the key to unlocking these. Data analytics can help an organisation with everything from personalising a marketing pitch for an individual customer, to identifying and mitigating risks to its business. Let’s take a look at four of the benefits of using data analytics.
By implementing an effective reporting and analytics system, a business can increase communication, productivity, accuracy and timeliness. This will aid in creating a sustainable environment where management can make thoughtful and informed decisions, in order to grow the business.
Businesses collect customer data from many different channels, including physical retail, e-commerce, and social media. By using data analytics to create comprehensive customer profiles from this data, businesses can gain insights into customer behavior to provide a more personalised experience.
SME’s can use data analytics to guide business decisions and minimise financial losses. Predictive analytics can suggest what could happen in response to changes to the business, and prescriptive analytics can indicate how the business should react to these changes.
Organisations can improve operational efficiency through data analytics. Gathering and analysing data about the supply chain can show where production delays or bottlenecks originate and help predict where future problems may arise. If a demand forecast shows that a specific supplier won’t be able to handle the volume required for the holiday season, an SME could supplement or replace this supplier to avoid production delays.
- Mitigate Risk
Risks are everywhere in business. They include customer or employee theft, uncollected receivables, employee safety, and legal liability. Data analytics can help an organisation understand risks and take preventive measures.
Improving your Reporting and Analytics offerings can have a considerable impact on your business. Contact us to discuss your requirements and discover how we can work in partnership to enhance your business.
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