Companies generate a mass of data on a daily basis that can be leveraged to gain a significant advantage over competitors. Are you optimizing your data to gain a competitive edge? Find out.
While enterprise resource planning (ERP) systems are useful to organizations because they can generate reports, as well as provide an operational view of the business, getting information from them often means relying on a few key members in the business — leading to bottlenecks and slower decisions.
But with business intelligence (BI), this doesn’t have to be the case. BI aggregates the data from your company’s various systems and departments, helping users explore it and report on it as they see fit.
So how can you use the data from your organization and leverage BI to best suit your organization? Read on to find out.
Data in the hands of everyone
With BI, your executives and managers have a complete and accurate picture of the business. When your data is organized into one view like this, it can be leveraged to uncover new opportunities, identify challenges and predict future trends — acting as your single source of truth.
Reporting done the old wayTraditionally, reports are generated by IT and created from an ERP system. The problem is, because you’re relying on just a few experts, these reports can sometimes take days to generate. And typically, by this time, the data is outdated.
Additionally, these reports are often static, meaning they’re a snapshot in time and don’t provide up-to-the-minute information. Given the time involved, as well as the outdated nature of these reports, they typically don’t make a large impact.
Using your data effectively
BI allows anyone in a business — including non-technical users — to easily access and analyze data to draw actionable insights with the click of button, helping teams to ask questions of the data and instantly view the results.
An intuitive BI solution does this without losing any of the data’s complexity. Fully built, out-of-the-box data analytics solutions make it easy for users to drill deep into their underlying data, finding answers to their questions and presenting their findings using dashboards, scorecards, graphs and visualizations.
Phocas: the competitive advantage you need
Using Phocas across your organization can help reveal actionable insights, allow you to create relevant KPIs, identify trends and opportunities and uncover potential threats before they can have an impact on your bottom line. Relying on data instead of “gut instinct” to make crucial decisions can help you make more objective, informed decisions — and help your business gain a competitive edge.
Find out more about Phocas by watching a short demo video or simply clicking on the button below.