How to use BI to gain competitive advantage in business
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How to use BI to gain competitive advantage in business

In today’s economy, many businesses find themselves in competition with online retailers and large corporations that are able to offer reduced prices. In order for independent mid-market operations to compete with multi-nationals, managers must utilize every opportunity to gain a competitive  advantage in business.

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Topics: Business Intelligence Basics, Strategy, Management and Performance, Job Role - Executive

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How to use BI to gain competitive advantage in business

the-top-eight-competitive-advantages-in-business-by-using-BI

In today’s economy, many businesses find themselves in competition with online retailers and large corporations that are able to offer reduced prices. In order for independent mid-market operations to compete with multi-nationals, managers must utilize every opportunity to gain a competitive  advantage in business.

Read more

Topics: Business Intelligence Basics, Strategy, Management and Performance, Job Role - Executive

One-size-doesn’t-fit-all as BI solution helps shoe retailer measure performance

one-size-doesn’t-fit-all-as-BI-solution-helps-shoe-retailer-measure-performance

Allegro Funds, an Australian private equity firm, acquired Number One Shoes and Hannah’s retailers in 2017. With a network of 110 bricks and mortar stores across New Zealand and a combined market share of 30 per cent – the business is the perfect fit for Allegro, which specialises in investing in mid-market companies with transformation potential. In 2018, Phocas, a business intelligence (BI) solution, was deployed in the business to give front line staff, managers and leaders better visibility and insights into how the stores are performing – at store level, regionally and nationally.

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Topics: Case Study, Job Role - Executive, Industry - Retail

Five strategic benefits of business analytics

five-business-benefits-of-business-intelligence

Business analytics can provide companies with an accurate and holistic view of their business. Executives and managers now have the ability to use data for real-time, actionable insights into everything from customer buying patterns to inventory management without having to rely on IT for outdated, static reports. In this blog, we discuss five strategic benefits of business analytics .

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Topics: Business Intelligence Basics, Job Role - Executive

3 steps to successful data analysis with business intelligence

3-steps-to-successful-data-analysys.jpg

So, your business intelligence tool is in place. Quality data is starting to flow from databases and resources into the central database. The next critical process for business intelligence success is analysis.

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Topics: Business Intelligence Basics, Job Role - IT, Strategy, Management and Performance, Job Role - Executive

When intuition can help the decision making process

when-gut-instincts-can-help-the-decision-making-process

Want to live the future backwards? A lesson learned during my course at Stanford is how intuition affects our decision making, positively and negatively. And the need for strategies to manage these feelings. Stanford Professor, Hayagreeva 'Huggy' Rao, introduced me to Gary Klein’s brilliant tool, called the premortem. The idea is to discuss all the things that can go wrong with a project before getting started. Effectively you 'put all the underground doubts above the ground.’ 

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Topics: Job Role - Sales, Job Role - IT, Job Role - Executive, decision-making

Customer Value Analytics for retaining Profitable Customers

know-and-retain-profitable-customers

Usually a small percentage of customers drive the majority of a company’s profits. Upon closer inspection, companies find that customers who generate a lot of cash flow cost more to service per transaction. Unfortunately, many companies aren't using customer value analytics to determine which customers are truly profitable and which are not.

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Topics: Business Intelligence Basics, Job Role - Sales, Job Role - Executive, KPIs

Simple data discovery for distributors

simple-data-discovery-for-distributors

Industry-specific data analytics technology has advanced exponentially over the last decade. Before the development of analytics software, data management relied on manual input. Purchase orders were received in person, over the phone, or by way of fax or email. Today’s data analytics solutions offer distributors the ability to sift through mountains of data to discover the gold.

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Topics: Industry - Wholesale Distribution, Job Role - Sales, Strategy, Management and Performance, Job Role - Executive

KPIs for the resilient mid-market CEO

KPIs-for-the-resilient mid-market-CEO

In today’s dynamic marketplace, modern CEOs must operate from a new playbook. Resilience and the ability to quickly adapt to mercurial customer demands is the name of the game. Consequently, the modern CEO must have the tools to maintain a competitive advantage.

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Topics: Job Role - Executive, KPIs

When decision making is so tough that even rocket scientists get it wrong

when-decision-making-is-so-tough-that-even-rocket-scientists-get-it-wrong

Typically, having loads of data is overwhelming for a decision-maker, unless it can be consolidated and presented in a way that is useful and makes a point. One of the communication lessons from the Challenger disaster in 1986 is the way unclear information provided to NASA, affected the decision to go ahead with the launch of the rocket. The horror of the catastrophe overshadows the story of how it happened. Academics and journalists tend to focus on the political or economic bias of the decision-makers as the root cause. Not on the data presentation, and how the critical factor of temperature and how it affects O-ring performance, was not made clear to the rocket scientists. 

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Topics: Case Study, Job Role - Sales, Job Role - IT, Job Role - Executive

How data analytics can help slow down your thinking

how-data-analytics-can-help-slow-down-your-thinking-

My fascination with the psychology of decision-making continues. My latest sage is Daniel Kahneman, a leading psychologist and winner of the Nobel Prize in economics for prospect theory.  Kahneman has dedicated his life to researching human judgement – especially under uncertainty and whether people are susceptible to flawed intuition. His book, Thinking, fast and slow summarizes much of his research. The book explains why humans make errors of judgement, and the role of systematic bias. It has many examples of the way people ignore general facts if they conflict with personal experience.

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Topics: Business Intelligence Basics, Strategy, Management and Performance, Job Role - Executive, decision-making

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