Business intelligence - unlock data potential
Are you looking to gain more insight from your business data?
Each day your colleagues make hundreds of decisions, but how can you help them make the right ones?
The answer lies in business intelligence. Business intelligence can make it as easy for them to access accurate information as it is for them to use their intuition.
Watch this video to see how we used Microsoft Power BI to make data held within a csv accessible, engaging and easy to interrogate.
What is Business intelligence?
Business intelligence (BI) software is a cost-effective way to combine data from over 800 sources, including Excel, Salesforce and SharePoint, and bring it to life using a range of visualisation tools, including maps, charts and tables.
It allows your users to understand ‘the bigger picture’ by delivering customised data insights via bespoke dashboards. It also enables them to generate bespoke automated reports in a single click.
As a result, you will be able to increase sales, improve margins and cut costs. It will also help you continue to deliver exceptional customer service as you grow.
What are the main benefits for our business?
Implementing business intelligence software will allow you to:
- Derive insights from historical and current performance
- Unlock the hidden relationships in data
- Identify trends
- Manage risks
- Identify potential cost reductions
- Exploit new opportunities
- Maintain a competitive advantage
How can business intelligence help employees?
You can help your employees feel more engaged, empowered and motivated by giving them the tools they need to do their job effectively. Being able to access, visualise and analyse data will help them feel more confident in their decision making and in their overall performance.
Imagine you’re the manager of a customer service team in a busy call centre. Your team has a challenging set of KPIs to hit, including response times for support calls and emails. Ticket volumes have been steadily increasing, but you haven’t got the budget to take on any new employees. You know you need to do something to reduce the volume of enquiries and handle queries more effectively, but what?.
- Producing rotas based on predicted demand (based on insights gathered from historic sales and call data)
- Identifying trends in support channel utilisation (e.g. chatbots, email or calls) and ensuring that trained advisors are always available
- Drilling into call or complaints data to identify employees who need more training or support
- Prioritising the development of self-help resources, such as video user guides
- Automating reports, so you could spend more time mentoring the team
- Using real time KPI performance data to help you decide when to praise, incentivise or otherwise motivate your team
- Ensuring the management team have access to accurate, informative and timely reports
- Providing the finance team with more accurate forecasts
- Sharing customer insights with the marketing team
- Reducing the load on HR by minimising employee burnout and staff turnover
- Enabling product, quality and compliance teams to prioritise the elimination of non-conformances by accessing your defect, return and complaint data
- Bolster the sales and marketing effort by delivering exceptional customer service, resulting in recommendations and increased customer lifetime value
How can Software Solved help?
There are normally three barriers to implementing business intelligence in-house:
- Not knowing how to get data in one place
- Not having the skills to replicate detailed reports which are currently produced by another system
- Being unsure of how to use analytics and reporting to unearth new opportunities
Whatever your problem, our data consultants have the knowhow, technology and practical experience to solve it. Our seven-step approach has already helped clients across a range of sectors to gain new insights from their data, including insurers, wholesalers and manufacturers.
Find out how we helped the team at HSF Health Plan to make better decisions whilst saving time and money.
What's your approach?
During our tried-and-tested process, our data experts will:
- Understand what information your users need to help your business grow
- Identify where your data is held and how its usage can be optimised
- Create a plan for improving your data to ensure it’s accurate and your reports will be structured correctly
- Implement agreed data improvements
- Project manage the implementation of business intelligence software
- Set up bespoke dashboards and standardised reporting
- Give your employees the small amount of training they need to become confident users
Download our free guide on "How to get started with Power BI"
Data is the lifeblood of an organisation. All organisations gather data and it has the potential to transform how a business operates and to increase profitability.
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