Business Intelligence vs. CRM: Which one is best for you?
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Business Intelligence vs. CRM: Which one is best for you?

There is an ongoing debate on whether Business Intelligence (BI) or Customer Relationship Management (CRM) is more effective in helping a business succeed. The software comparison happens because BI and CRM tools share a number of the same functions – most notably in using historical data to identify key trends that businesses can leverage to their advantage.

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Topics: Business Intelligence Basics, ERP - CRM

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Business Intelligence vs. CRM: Which one is best for you?

business-intelligence-bi-vs-crm.jpg

There is an ongoing debate on whether Business Intelligence (BI) or Customer Relationship Management (CRM) is more effective in helping a business succeed. The software comparison happens because BI and CRM tools share a number of the same functions – most notably in using historical data to identify key trends that businesses can leverage to their advantage.

Read more

Topics: Business Intelligence Basics, ERP - CRM

How to get your KPIs on track with data analytics

how-to-get-your-KPIs-on-track-with-data-analytics

Many data analytics vendors give users the ability to measure everything but offer little guidance.  Too much choice can be overwhelming for new users. Instead, we recommend determining the metrics that matter to your business and to get you started; Phocas helps you establish KPIs in the data analytics solution.We have three pillars that serve as guideposts to help you decide what to measure. So every area of your business from sales, inventory management to finance is measuring core KPIs that contribute to the overall success of the business.

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Topics: Business Intelligence Basics, Job Role - Sales, Job Role - Executive, Job Role - Inventory/Operations, Job Role - Marketing

Define business intelligence and list the signs your business needs BI

One way to define business intelligence (BI) is to say BI takes away the trauma of spreadsheets and instead uses the power of queries and algorithms contained in the software to review your data and provide ready to go actions. Business intelligence changes the way companies operate and drives accurate data-driven decisions. Gone are the days of business owners spending their time solving day-to-day operational problems. BI helps business people to anticipate, plan and be proactive with data insights. 

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Topics: Business Intelligence Basics, data visualizations

Take advantage of what your ERP data has to offer

Enterprise resource planning (ERP) systems don’t just help your business manage financials, inventory, customers and other key factors — it’s also a wellspring of data. There are insights in your cloud ERP data that could be used to make more timely and informed decisions, address new opportunities and improve your operations over time. But sourcing, processing and analyzing all of this data can feel intimidating. Learn more about how a data analytics tool alongside your ERP system can make you feel good about  data.

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Topics: Business Intelligence Basics, Job Role - IT, Dynamic reporting

How to monitor business performance with financial analytics

The finance department monitors and analyzes business performance in detail. Yet sometimes it can take awhile to communicate and address issues occurring in different parts of the business that are creating bottlenecks or affecting costs. Companies spend months preparing budgets and yet when the numbers are reviewed a year later a company's performance isn’t always aligned. To get the maximum benefit from your financial data, using dynamic reporting tools in data analytics software will allow you to better monitor performance metrics, visualize the numbers and deal with 'unexpected' issues.

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Topics: Business Intelligence Basics, Job Role - Finance, Job Role - Executive, Dynamic reporting, data analytics

What is the connection between business intelligence and ERP?

business-intelligence-vs-ERP--which-tool-is-better

Since its conception in 1997, Business Intelligence (BI) has been compared to a number of analytical tools, from spreadsheets, to Customer Relationship Management (CRM) tools to Enterprise Resource Planning (ERP) software. For some analytical tools, BI wins by a mile – yes we're specifically talking about spreadsheets. For others, there is no clear winner.

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Topics: Business Intelligence Basics, featured

Inventory days formula and why it's useful

Inventory days formula is equivalent to the average number of days each item or SKU (stock keeping unit) is in the warehouse. Inventory days is an important inventory metric that measures how long a product is in storage before being sold. If the percentage is high, there may not be enough demand for it, the product might be too expensive or it's time to rethink how it's being promoted.

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Topics: Business Intelligence Basics, Industry - Wholesale Distribution, Industry - Retail, Job Role - Inventory/Operations, Inventory Management, KPIs and metrics

How to increase profitability in the automotive industry

It is no secret that the automotive aftermarket is cut throat and  consolidating rapidly. Customers now bargain from cost and up, rather from advertised price and down, making it more important than ever to manage pricing strategically. At the same time, customers generally have higher expectations than before with regards to customer service. This is why many automotive aftermarket businesses are turning to their data to address inventory, profitability and margins.

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Topics: Business Intelligence Basics, Industry - Automotive, KPIs, cross-selling, business intelligence dashboards

How real-time dashboards keep managers on target

how-real-time-dashboards-keep-managers-on-target

A real-time dashboard provides up to the minute insight into the performance of numerous business processes from production to delivery. Every department of a company has specific performance metrics that can be monitored to ensure the company is operating at peak performance. Integrating these metrics into a dashboard allows users to spot a problem quickly so you can get right back on track or respond to exactly what your customers need.

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Topics: Business Intelligence Basics, Job Role - Executive, data visualizations, KPIs and metrics

Data management: 6 dos and don’ts of managing your business with data

 


Business intelligence (BI) systems provide a single source of truth for data management across all of your operations’ data. BI aggregates the data in a way that makes it easier for you and your team to access and analyze information for more strategic decision-making. Tracking key metrics across inventory, customer behavior, finance, and other areas of your business has never been more important with the uncertainties that are impacting practically every industry today. As you evaluate your BI strategy and the role analytics plays in your future, consider the following six dos and don’ts for data management to make data more accessible and meaningful to your teams.

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Topics: Business Intelligence Basics, Job Role - Executive, Job Role - Inventory/Operations, decision-making, business intelligence dashboards, data visualizations, KPIs and metrics

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