How to get your KPIs on track with data analytics
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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

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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.

Read more

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

Take control with self-service data analytics

take-control-with-self-service-business-analytics

Nearly all companies in today’s world have one common goal: keeping the user experience simple. This reduction in size, steps, and clicks does not mean the technology is any less sophisticated — in fact, it’s just the opposite. In relation to data, self-service data analytics solutions enable users of all skill levels to independently access, query and analyze company data.

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Topics: Job Role - Inventory/Operations, Job Role - Marketing, data analytics, data visualizations

How business intelligence is used?

As companies continue to use their systems and technology to achieve a competitive advantage and adapt to change, Business Intelligence (BI) is a digital transformation tool people are curious about. Modern BI is attractive because it has a low barrier to entry and companies can implement the software quickly.  So how is business intelligence used? And who uses it?

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

How to build a dynamic dashboard and stay on top of your KPIs

how-to-build-a-dynamic-dashboard-and-stay-on-top-of-your-KPIs

If a picture can paint a thousand words, how many is a dynamic picture worth? A lot of words, according to business owners, sales and purchasing professionals who use dynamic dashboards regularly.

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

Understand customers' needs and maximize your profitability

understand-customers-needs-and-maximize-your-profitability

Over the course of our lives, we develop many types of relationships. Some of them long-term, others are more fleeting. The same is true in business. Low-profit customers can come at a high cost, so it’s critical to have a comprehensive and accurate understanding of your customers to minimize at-risk relationships and maximize profitability. Customer profitability analysis helps companies understand how reliant they are on profitable customers and the resources spent on less profitable ones.

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Topics: Industry - Manufacturing, Industry - Wholesale Distribution, Job Role - Sales, Industry - Retail, Job Role - Marketing

Sales analytics helps online retailer understand customer behavior in lockdown

Ruroc is an online retailer that sells unconventional and aesthetically unique ski helmets. In 10 years, Ruroc has built a global community of loyal followers and customers. After proving the concept in ski helmets, the company recognized the need to expand into motorcycle helmets. COVID-19 has shuttered thousands of retailers around the world, and consumers have moved to online shopping, which has benefited Ruroc. The company uses sales analytics to understand customer behavior and reach-out to them when they are ready to buy.

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Topics: Job Role - Marketing, Industry - Consumer Goods, ecommerce

How to promote interdepartmental communications using business intelligence

Interdepartmental communication is the backbone to achieving company success.  Companies with effective interdepartmental communication are three and a half times more likely to significantly outperform industry peers.  In this blog, we will explore four ways to improve interdepartmental communication to achieve organizational goals using business intelligence software.

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Topics: Job Role - Sales, Job Role - Executive, Job Role - Inventory/Operations, Job Role - Marketing, KPIs, business intelligence software

Reduce costs with a data analytics bootcamp

Take your seemingly unimportant data on a data analytics bootcamp so you can lower costs. When companies gain more experience in analyzing data, the real costs to serve become more visible. Instead of cutting costs at random, data analytics provides insight to make strategic adjustments. Companies who can quantify gains from analyzing data report an average 10% reduction in costs each year.

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

What's new in BI visualizations

whats-new-in-bi-reporting-and-visualizations

Business Intelligence (BI) depicts data visually so users can quickly recognize a trend or spot a variance.  Unlike static charts, visualizations encourage users to explore their data to uncover actionable information.For instance, a BI solution can show a power tool manufacturer that sales of its cordless drills are down. While this may be caused by several factors, users can query the data and generate visualizations to see what’s happening below the surface.

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Topics: Job Role - Sales, Strategy, Management and Performance, Job Role - Marketing

Are you treating your data as an asset?

manage-data-as-an-asset

While most executives understand that their data is an asset, many haven’t harnessed the valuable insights accessible with a data analytics solution.  The immense amount of data you generate may seem impossible to understand, but data analytics will transform it into clear, actionable information.  Another way at looking at data, if you closed your doors tomorrow, what would the new owner be most interested in? – the products on your shelves or the insights into your customers?

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Topics: Business Intelligence Basics, Job Role - Executive, Job Role - Marketing

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