Business KPIs: 5 important characteristics to be effective
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Business KPIs: 5 important characteristics to be effective

To remain competitive, business managers need to track how company-wide goals are regularly progressing. Setting business key performance indicators (KPIs) is one of the easiest ways to do this. Unfortunately, many people get their business KPIs wrong, by measuring too much or not what’s helpful or copying the metrics others are using. But for KPIs to be effective, it’s essential that managers consider what they need to know and then set business KPIs to measure their specific strategy.

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Topics: Strategy, Management and Performance, Job Role - Executive, KPIs, data analytics, business intelligence software

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Business KPIs: 5 important characteristics to be effective

To remain competitive, business managers need to track how company-wide goals are regularly progressing. Setting business key performance indicators (KPIs) is one of the easiest ways to do this. Unfortunately, many people get their business KPIs wrong, by measuring too much or not what’s helpful or copying the metrics others are using. But for KPIs to be effective, it’s essential that managers consider what they need to know and then set business KPIs to measure their specific strategy.

Read more

Topics: Strategy, Management and Performance, Job Role - Executive, KPIs, data analytics, business intelligence software

What is Business intelligence (BI) and its application?

Business intelligence (BI) uses software to convert reams of information into bite-sized insights to inform decision-making. The software receives data from a company's ERP system and other data sets via a sync tool or API. The BI tool then analyzes the data sets and presents findings in reports and dashboards. The purpose of BI is to help people in an organization obtain an easy to understand summary of how a business is tracking, so they can address areas of concern or opportunity.

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Topics: Strategy, Management and Performance, Job Role - Executive

Four opportunities with data visualization tools for the road back

“Without big data, you are blind and deaf and in the middle of a freeway.” Geoffrey Moore, American organizational theorist said this 15 years ago yet managers continue to operate without full visibility into their data and have felt the limitations during the crisis. From online sales to CRM data to accounts receivables, we constantly accrue data in business. However, this data is a burden if we can’t access and harness it quickly. Data visualization tools can help business managers take advantage of the opportunities that lie within their data, be flexible and respond faster.

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Topics: Job Role - Sales, Strategy, Management and Performance, Job Role - Executive, business intelligence dashboards, data visualizations

Business intelligence dashboards: What executives are monitoring

When it comes to developing business intelligence dashboards, the biggest challenge may be deciding what data should be included. Most executives want to see business-critical information that can help them make faster and more educated decisions. In a Phocas business intelligence dashboard, you get the big picture and the ability to drill into the data to investigate further. Currently, executives are focused on full visibility and how their businesses have changed due to lockdowns and disruption. 

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Topics: Job Role - Finance, Strategy, Management and Performance, Job Role - Executive, business intelligence dashboards

Don't drop the data: Why business intelligence software matters

Business intelligence has become this wonderful blanket term to cover a variety of elements. These include the collection, analysis, and reporting of information that relates to all of your business’ activities and operations. Having business intelligence software to consolidate all of this information and all of the essential analysis of it will certainly make your life easier and give you the key to making your business the best it can be.

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

A buyer's guide to the best business intelligence software

Business intelligence software is a competitive marketplace, and many cloud-based vendors sound the same. So how do you determine what’s the right fit for your company? At a macro level, it’s crucial the BI software supports your company strategy, is compatible with your industry and works with your tech stack.To help you navigate through the options, we outline 8 considerations in the buyers guide to the best business intelligence software.

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Topics: Business Intelligence Basics, Job Role - IT, Reviews and Recognition, Strategy, Management and Performance, Job Role - Executive, KPIs, business intelligence software

Use a business intelligence strategy to prepare for supply chain disruption

The full economic impact of the coronavirus is still unfolding, but now is the time for executives and supply chain managers to plan for many scenarios that can play out. A business intelligence strategy is instrumental in helping affected companies recalibrate and adjust.  Leaders with clear visibility into their suppliers can review inventory levels and devise strategies to appease the customer base. Those executives who acknowledge the situation using their data, rather than wait and see, will cushion the blow, especially if the disruption persists.

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

The future of data analytics for mid-market managers

The future of data analytics for mid-market managers is bright because data is now accessible to all. The concept of data democratization is not new, and it’s not unlike other technological advances that have followed similar paths, including the role of the Internet and mobile devices. As data analytics solutions become more mature and custom to industry application and job functions, data analysis is available to meet everyone’s needs.

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

Industries using business intelligence

Over the last decade, many industries have adopted business intelligence to help them lower costs, improve efficiency, spot trends, and take advantage of new opportunities. Companies who use business intelligence have found that they are better equipped to stay ahead of the competition. Without all the data, companies make critical choices based on intuition or whim. Whereas, business intelligence insights enable manufacturers, wholesalers, and retailers to form strategic decisions using accurate, timely and complete information.

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Topics: Industry - Manufacturing, Business Intelligence Basics, Industry - Wholesale Distribution, Strategy, Management and Performance, Industry - Retail, Job Role - Inventory/Operations

How to motivate your sales reps with data

Sales managers have difficult jobs keeping sales reps on the ground motivated as rejection is tiresome. Many successful leaders have turned to data insights to keep their sales teams focused and working smarter. Data insights help to pinpoint high priority sales opportunities, increase close rates and drive employee engagement.

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

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