This article hasn’t been written by AI.
It’s not something new that Data changed, and is changing, the way we understand our businesses. At Excel in BI, as Data Experts, we believe Data is the magic dialler to find where to get more profit in your operations. In this article, we will discuss how Data Analytics can increase your business profit in 3 steps.
1. Aquire Softwares that Integrates
The Holy Grail for data analytics is to have all the data in one place where it can be accessed, read, and combined together. But over the years, companies have found that this clear vision has turned into a nightmare. With software maturity reaching every single business, more and more companies have acquired software (even some free) that are accumulating enormous amounts of data, in isolated systems that don’t always provide multi-platform data integration. However, the desire is still the same, to access the data from one unique place to understand it, digest it, and create insights.
2. Build a Unified Database
The Centralisation Solution
This is the dream for Data Analysts, Accountants, Financial Specialists, consultants, and anyone who works with the numbers in your company. But even with Data Maturity and Data Capabilities improving, this is still not an easy task to resolve.
Data Engineers are expensive, and data centralisation tools are probably even more expensive, and in some cases the ROI is hard to see. The Data Engineer is costing you around $150K+ a year, on top of the lack of strategy results put more cost on the list. On the other hand, cloud services are getting expensive due to the need for proper configuration and optimisation. Here could be the starting point from where to begin building your Centralised Data Centre.
3. Focus on Operational Results and ROI
Do you need more Data, Dashboards, or Spreadsheets? The short answer is no. You need answers to the questions that your advisors and experts in your business want to answer, in a clear and easy-to-read way. So how do we approach this problem to see where our business could make more profit?
Each initiative you build in Data should be attached to a result, and a clear Return of the Investment, it can be easy to say, but sometimes as Software Developer or Data Specialist we lose the sight and we just work towards to complete a task that sometimes doesn’t make much sense in terms of business benefits.
Therefore, instead of focusing in the latest technology or in the complexity focus in the result that will either create more profit, optimise the business or make it more resilient.
How We Can Help
We specialise in one thing: “Data has to be Simple”. This means we should have the capability in our business to deliver answers to the questions that different teams have. Questions like:
• What is the status of these customers’ orders?
• Why are we spending too much in the warehouse?
• Is there any way to create more profit from this product?
These simple questions can put your accounting or financial team in a really hard situation if the data is all over the place. This is where we come to the rescue with a clear strategy to answer your business questions in a sustainable and repeatable way. So no more one-off reports, let’s create solutions that serve your business in the long run.
Schedule your discovery call not and we will contact you back.
