Getting the most out of your data is no longer out of reach for small businesses. With all of the talk of Big Data, there is a perception in the marketplace that data analytics is only for the ‘big boys’. This is no longer true.
Small and medium-sized enterprises (SME) are now taking advantage of Business Intelligence (BI*) tools to make informed decisions, rather than relying on guess work and gut instinct. Historically, the cost of housing and managing data was prohibitive to SME’s, but cloud based data storage has levelled the playing field. SME’s now have access to cloud storage and BI software that allows them to house, analyse and interpret new and existing data. It’s as simple as identifying the questions you want answered, accessing the data and reporting the findings in real time.
Along with the adoption of cloud storage, reporting is now available on mobile devices allowing instant access to key measurable whenever needed. This gives your business the opportunity to respond to changes in performance and make well-informed decisions.
Some examples of how better data management may benefit your SME:
- Build better relationships with your customers: tracking customers ordering habits, communications, feedback and complaints can allow you to optimise customer interaction. Identifying how best to interact with a customer can save your company time and money.
- Get competitive with your competitors: BI can provide insights into trends in your own industry that your competitors might not be aware of. Identifying trends early may help you get ahead of your competitors.
- Real time access to trends: being able to track sales, profitability, customer satisfaction and growth revenue affords your business agility in decision-making. You no longer have to wait to the end of a reporting period to know if a project or a product is performing as expected.
- Dashboard reporting: being able to measure and monitor key performance indicators on a daily basis gives you an insight into the overall health and performance of your business.
- No technical skills required: you don’t have to be technically minded to access the dashboard and reporting facilities. This makes it easy to access and share findings with staff, partners or clients as needed.
By accessing the answers already trapped in your company’s data your business will be better equipped to accurately forecast sales figures, manage stock levels, analyse organisational efficiency and identify your best clients or top performing sales people.
Talk to the team at Satsuma about your data needs and get better access to the data you already have.
* Business intelligence (BI) is the set of tools and techniques used to transform raw data into meaningful and useful information for the purpose of business analysis.
We are focused on solving business problems where complex data is involved. We deliver business intelligence solutions using intuitive visualisations to support data driven decisions through data discovery and self-service analytics.
Satsumas have worked with other pharmaceutical companies and understand the challenges you need to overcome.