“Vision without action is simply a dream. Action without vision just passes the time. Vision with action can change the planet”
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The traditional ways of getting this information from the MIS team were time-consuming and prone to errors due to the requirement of human touch each time the information was needed. With BI Reporting, the information can be accessed from anywhere once permitted and reduces any potential delay in the process.
Data use has become increasingly prevalent within the business world. consistent with an Investopedia article, 84% of business leaders believe companies that don’t engage in data analysis lose a competitive edge up the market.
Just a couple of samples of these benefits include:
Customer profitability insights:Data analysis helps companies see the revenues generated per customer, the value of customer acquisition, and which customers or customer groups are most profitable. These actionable insights guide a business’ efforts to best allocate marketing dollars, streamline its sales process or refine its messaging.
Sales predictions: Predictive modeling can help business leaders to spot trends in sales and gain clarity, whether they’re navigating high points, low points or somewhere in between.
Analysis of money flow. Data analysis tools also can help finance professionals trace income , trying to find areas where a business can stem losses or invest revenues more responsibly.