How to maximise value from your business data

Now it's no secret that business leaders consider data as one of, if not their most important assets. But how much is it worth and how do you go about maximizing the value you get from your data? With buzzwords like Big Data and Artificial Intelligence becoming agenda points in boardrooms it seems a timely opportunity for Phocas to share some insights into where you can start your journey on leveraging business data from your existing business systems.

A data analytics solution can help you get the most from your data: to improve competitiveness, increase profitability and support company growth. This blog gives a sneak preview of some of the insights we will be sharing in a free webinar called, Maximise value from business data.

Dashboards - a summary on a screen

Data analytics is about aggregating and using a combination of internal and external data. Dashboards are wonderful tools to showcase a summary of up-to-date information. They capture within a single workspace a certain part of your business whether it be for reviewing overall department performance, an individual's performance or indeed a customer's performance.

Dashboards show you the big picture and are a temperature check of how well you are doing in terms of revenue and profit against targets. Phocas dashboards are set up in a way that suits you, that makes sense to you and are designed to automatically extract data from your business systems and present it in a way that complements your sale or purchasing process.

Self-serve to drill deeper

A simple to use data analytics system gives you the autonomy to query and filter by a variable that interests you. Let's take an example of an area where you might be concerned such as negative sales variance of a particular customer. Using Phocas you can get a filtered view of their performance and find out what product groups are causing the biggest issue.

Phocas allows you to follow your train of thought and to drill deeper into the individual line items and pick up on lost or reducing spend.

Increase the effectiveness of your sales team

Armed with new information about declining sales, cost to serve and customer profitability your sales team can have better conversations with customers. A handy feature in Phocas is the customer scorecard which you can share with customers and showing them how closely you understand their buying habits and behavior.

The feedback from Phocas customers is that being able to see the opportunities or challenges of their business quickly, they are more manageable and allow for action to be taken before the problem becomes worse.

By leveraging business intelligence you obtain a holistic view of your data that allows you to make smarter and wiser business decisions.

To learn more about How to maximise value from your business data, click to sign-up for a free webinar in Australia on May 9 at 2pm, UK on May 9 at 11am or in America on May 9 at 2pm.