These days, we’re all drowning in data. But is all of that detailed information really helping you boost revenue and improve operations? There are a few ways to tell. Process improvement, transparency and increased productivity are all components that illustrate how business intelligence can translate to better ROI.
When data is transformed into in-depth analysis and then used to make improvements, it becomes business intelligence. And that’s valuable.
A recent article from DrivingSales details three ways you can utilize business intelligence to improve ROI:
1. Process improvement
When processes are followed closely, goals are met. Business intelligence shows you what processes are being adhered to and where improvements are needed.
When everyone is viewing the same data in the same format, there’s nowhere to hide unappealing information. As a result, accountability goes up, which leads to increased motivation.
3. Increased productivity
Information pulled from your own DMS or other integrated system is more accurate, and are less time consuming to create. That means more time for following up on leads, and other productive tasks.
You’ll find additional detail in the full article. Clearly, making the effort to ensure your data makes the transition to actionable business intelligence can lead to efficiencies and improvements now, and in the future.