It refers to software that handles all aspects of an organization’s interactions with its customers. CRM stands for Customer Relationship Management. Whether you are a sales person or a marketer, you probably like to keep track of your customers – probably using a CRM to help you.
Furthermore, information sharing also saves time and improves productivity. This ease in information sharing is likely to reduce duplication of roles/duties within the organization and improve the accuracy and usefulness of the data generated by different departments. This will enable you to save time on reporting processes and analytics.
You can use business intelligence to share information across different departments in your organization. One of the most important reasons why you need to invest in an effective BI system is because such a system can improve efficiency within your organisation and, as a result, increase productivity. As such, a BI system can help you understand the implications of various organisational processes better and enhance your ability to identify suitable opportunities for your organization, thus enabling you to plan for a successful future. This is because such a system would be able to identify key trends and patterns in your organisation’s data and consequently make it easier for you to make important connections between different areas of your business that may otherwise seem unrelated. To Turn Data into Actionable Information:Ī BI system is an analytical tool that can give you the insight you need to make successful strategic plans for your organization. Good BI should be at the heart of every organisation as it can provide increased control. Moreover, if you currently have to skim through hundreds of pages in your detailed periodic reports to assess the performance of your organisation’s processes, you can save time and improve productivity by having skilled intelligence analysts using relevant BI software. This will improve the visibility of these processes and make it possible to identify any areas that need improvement. If you want to improve your control over various important processes in your organization, you should consider investing in a good BI system. Is there an error in your accounts and you need to drill down to invoicing or billing quickly to make your P&L balance – can you do this in a few clicks or do you need to re-run a report that takes forever? Is stock going missing and you can’t identify where it’s going? Once you understand what your consumers are buying, you can use this information to develop products that match the current consumption trends and consequently improve your profitability.Ĭan you easily identify areas for improvement? One of the main advantages of investing in BI and skilled personnel is the fact that it will boost your ability to analyze the current consumer buying trends. Here are some of the main reasons for investing in a good BI strategy and system.
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