In business, the saying “time saved is money earned” couldn't be more true. Yet businesses throw away thousands of dollars each day in wasted time. This happens at every level from management to staff. By applying a few motivational techniques to your business, you can increase productivity and profits - even when people are working from home.
Read moreTopics: Job Role - Executive, data analytics, data visualizations, KPIs and metrics
In business, the saying “time saved is money earned” couldn't be more true. Yet businesses throw away thousands of dollars each day in wasted time. This happens at every level from management to staff. By applying a few motivational techniques to your business, you can increase productivity and profits - even when people are working from home.
Read moreTopics: Job Role - Executive, data analytics, data visualizations, KPIs and metrics
Key performance measures help people evaluate actual performance against objectives, so they know what levers to pull to stay on track. As finance plays a vital role in an organization’s critical decision-making, we’re going to take a look what KPIs to set. The significance of having the ability to measure financial KPIs means businesses can get closer to customers. Finance data closes the time gap between customers’ demands and businesses’ response to them.
Read moreTopics: Business Intelligence Basics, Job Role - Finance, Job Role - Executive, business intelligence dashboards, KPIs and metrics
If you are new to business analytics, it can be difficult to know where to start. There is so much information out there that it can be difficult to understand for people without an IT degree or experience with analytics solutions. This blog aims to lay out the most important aspects of business analytics for a beginner within a retail, distribution or wholesale business.
Read moreTopics: Strategy, Management and Performance, data analytics, business intelligence dashboards, KPIs and metrics
There are so many business intelligence tools on the market, all promising a competitive edge for your business. A good start is ensuring the software is compatible with your ERP and the tool has built-in content relevant for your industry. Most business people need access to data quickly so being able to rely on industry specific dashboards and metrics makes adoption across the business more accessible. To ensure your investment in business intelligence is future proof, we also have a 4 point checklist to consider.
Read moreTopics: Business Intelligence Basics, Job Role - IT, business intelligence dashboards, data visualizations, Inventory Management, KPIs and metrics
When it comes to achieving success in manufacturing, the industry is way beyond the idea that data matters. Manufacturers and the decision-makers that run them understand the value of data and are turning to BI strategies and manufacturing KPIs in times of uncertainty. Leaders want to know how decisions on production runs, purchasing and the supply chain impact their financial KPIs faster than traditional reporting allows so they are looking to BI to provide this insight.
Read moreTopics: Industry - Manufacturing, Job Role - Finance, Job Role - Executive, Dynamic reporting, business intelligence dashboards, Inventory Management, KPIs and metrics
For sales managers, the ability to communicate about the progress of your team in an informative way is essential. In the age of data overload, this becomes more difficult if you don't have consolidated data that you can rely on. The adoption of sales analytics software has grown throughout the business world because it allows you to set and measure sales performance metrics - an accurate reading of how you are tracking at any given time.
Read moreTopics: Job Role - Sales, Dynamic reporting, KPIs and metrics
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.
Read moreTopics: Business Intelligence Basics, Industry - Wholesale Distribution, Industry - Retail, Job Role - Inventory/Operations, Inventory Management, KPIs and metrics
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.
Read moreTopics: Business Intelligence Basics, Job Role - Executive, data visualizations, KPIs and metrics
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.
Read moreTopics: Business Intelligence Basics, Job Role - Executive, Job Role - Inventory/Operations, decision-making, business intelligence dashboards, data visualizations, KPIs and metrics
In manufacturing, most companies can’t make products any faster or cheaper, so they need to achieve efficiencies through data and the back office. ERP, data analytics and the new Epicor Data Analytics (EDA) Financial Statements manufacturing software helps facilitate these gains. Many manufacturers using Epicor ERPs benefit from the partnership between Phocas and Epicor and use the white-labelled Epicor Data Analytics plus EDA Financial Statements to do systematic analysis of their data and monitor KPIs.
Topics: Industry - Manufacturing, Financial Statements, data analytics, data visualizations, KPIs and metrics
