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

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

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

Static reports vs business intelligence

What is the difference between traditional static reports and business intelligence? Static reports are often about a set timeframe such as the last quarter of results, and you have to consider all the elements that you'll need when preparing them. In contrast, BI provides more flexibility.  In this blog, we will explore how static reports compare to real-time business intelligence so you can be better informed about what your business needs. 

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

Automation strategies for mid-market businesses

automation-strategies-for-mid-market-businesses

When automation is done well, it accomplishes more than just saving time and money. It minimizes errors, improves productivity, increases employee satisfaction, and enhances the customer experience. When incorporated into a business strategy, employees get more done, in the same amount of time, allowing them to focus on the important objectives of their role.

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

Business analytics for beginners

a-beginners-guide-to-data-analytics-and-business-intelligence

If you are new to data 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 years of experience with analytics solutions. This blog aims to lay out the most important aspects of data analytics for an average user within a retail, distribution or wholesale business.

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Topics: Business Intelligence Basics, Strategy, Management and Performance

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

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

Phocas BI tool proves its value for manufacturers, wholesalers

Phocas-BI-tool-proves-its-value-for-manufacturers-wholesalers

The following article is reproduced from TechTarget, a respected tech news website which provides independent content and analysis. The article highlights how Phocas has built trust and a strong reputation with leaders and IT managers in manufacturing, wholesale and retail.

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Topics: Job Role - IT, Industry - HVAC/Plumbing, Strategy, Management and Performance, Job Role - Executive

Five ways to increase profit margins in distribution

five-ways-to-increase-profit-margins-in-distribution

Tracking profit margins is a full-time activity in distribution. Out-of-date reporting systems with little to no visibility beyond sales data can result in your business spending more money to sell products than they cost. Even if revenues are up, unless monitored closely, margins within individual sales can erode, leading to strategies that may not be in the best interest of your business.

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

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