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Pegasus Blog

Fuel growth with business intelligence

DATE

May 2017


Running a business in ever-changing conditions such as those we're all currently experiencing presents many challenges. To stay one step ahead of the competition, it's vital to turn business data into usable, actionable information. This is known as Business Intelligence.

Business Intelligence can be a valuable addition to any business strategy to drive growth; not only can it aid decision-making, but it can improve productivity and ROI too. So how can it help grow your organisation?

    1) Make faster and more confident decisions

    In days gone by, individual departments would record and store their own data, making it difficult and time consuming to collate information from across the business. Business Intelligence software that can access data from all areas helps you stay one step ahead by allowing you to access real-time reports, graphs and spreadsheets, giving you complete visibility of the entire organisation in one place. This means you can make up-to-the minute decisions confidently and quickly.

    2) Satisfied customers and better customer retention

    You think you know your customers, but do you really? Do you know what products they buy and when they buy them? How long does it take them to reach the decision to purchase, and what other products do they look at? How often do they return to re-purchase from you? Business Intelligence software can help you get to know your customers, giving you an insight into their buying patterns and behaviour, so you can offer the best products and service to retain them.

    3) Plan for the future and be proactive

    Businesses always have, and always will, face uncertainty about the future. With Brexit under way, this is particularly topical at the moment. By giving you insight into how your business has performed historically, Business Intelligence can help you take proactive action to predict and manage future changes and reduce their impact.

    4) Empower employees

    If business information is accessible for everyone to see and use, it can help them make insightful decisions or suggestions from the “shop floor”, which can have huge benefits for the overall success of an organisation. Plus, it’ll empower and motivate your employees and drive productivity in the longer term.

    5) Make the data you need

    The beauty of Business Intelligence software is that it gives you access to the exact information you want, when you need it. No more guesswork or hours crunching the numbers. A well-implemented Business Intelligence solution will give you the ability to correlate your data how it suits you, and share it easily with other employees and managers across your business.

    6) Save time

    One of the simplest yet biggest benefits of a good Business Intelligence solution is the time it saves. Inputting data to use in report creation can be a laborious and costly task, especially in time-poor, budget-conscious organisations. Business Intelligence software can generate reports at the click of a button, removing the most arduous part of the process, so you can focus your time where it really matters.

Do you think your organisation could benefit from some of the above? Maybe it’s time to think about investing in a new Business Intelligence solution? Opera 3 has award-winning business intelligence functionality which can provide valuable insight for your business. Contact us to learn more and to discuss your requirements.