Making your way in the modern market is really a difficult challenge. It is not easy to be disruptive and distinguish yourself from many competitors, even more so in this day and age with globalization. What every company should do is make the most of every resource and keep up with the surrounding environment. In this article we will talk about a particular resource that was almost ignored until recently, but that has allowed the modern big companies to get to where they are today: Data.
Data has become a great source of income. It made it possible to innovate and base corporate growth strategies on every operating sector of the company. One of the peculiarities of data is the simplicity with which it can be acquired, we are talking about the completely free data that each company carries around, but also about data coming from external sources. The latter, can be integrated with the first to gain a complete overview of the main indices of interest, even more so if these are managed and organized with a business intelligence tool such as AgrEGG.
To give a quick and easy example, let’s imagine that we only have the production and sales history of the company’s products for the past five years and let’s try to list what information we can get from it:
it is possible to analyze and transform this data to trivially identify what are the company’s flagship products, in which periods of the year products are mostly purchased, which sectors are most productive or which sectors absorb most resources.
Now let’s try to cross this data to gather more hidden information. We can:
- see what is the most efficient and least efficient business sector in order to identify strengths or production gaps and intervene promptly on operating costs;
- discover how your target market is evolving and what new opportunities are ahead of you;
- understand who the main and best customers are (or identifying cross-selling opportunities);
- act on pricing policies;
- have all the information and save on the time for management and manual organization of the data;
- have a 360 ° view of the entire production processes;
- reorganize staff into new teams for strategic projects.
With this initial analysis, you can easily intervene in all the dynamics just listed. So what can you do when you have different types of data in your company and cross them with external sources? Simple, you will be able to foresee scenarios that were unimaginable up until now.
Having the right BI tool will allow you to simplify the entire process for managing, integrating and displaying data. It will allow you to concentrate simply on where you want to take your company and it will offer you the right means for identifying the changes to achieve it.
Today, all companies have the opportunity to exploit their data with business intelligence and, together with the right tool, they are able to maximize profits and minimize costs simply by unravelling the hidden information that has been stored in their archives for years.
Thanks to AgrEGG and our team of experts, you will have the opportunity to create new analytical applications to be able to exploit all your data and have the answers you need to meet the expectations of your customers and improve your business organization.
If you want to monetize your data, remember that they do not speak for themselves. Instead of going through the trouble of creating your own business intelligence platform, you can choose a ready-made product, developed by experts in the sector, that will guarantee you get the development of all necessary analytical applications. So, choose AgrEGG.