Introduction
The information age has brought countless opportunities, along with a flood of data. Dealing with this avalanche of information makes the day-to-day life of managers more complex, making the challenge of staying ahead of the competition even more significant. Effective data management is fundamental to the success of your business, and it is in this context that our Qlik® BI plays an important role.
Having BI goes beyond the whim of having yet another tool. It’s about keeping the most important asset in your business today – information – safe and well-organized. Without information, companies can lose an entire history. Can you imagine losing a client portfolio? A history of what they buy and where? But don’t worry, if you’ve got this far you’re already on the right track: prevention.
In this article, we will thoroughly explore the advantages of adopting BI as a solution for organizing all your data.
Decision-making
A manager needs a tool that takes care of their data, filters it and organizes it, generating dashboards and insights. With insights, your business can make assertive decisions – thinking about “what, how, why and where” – creating a solid foundation between management and decision-making. The great benefit of having BI lies in the ability to capture data in real time, identify what is happening and, more than that, foresee what is yet to come.
This is only possible thanks to real-time monitoring, which helps identify problems before they become crises and reveals opportunities as they arise. This agility is key to standing out in highly competitive markets. Qlik® BI allows you to obtain data from different sources, such as savings websites, spreadsheets, CRM and ERP systems.
In addition, BI makes it possible to identify and compare market data with your business data. For example, if the market is actively investing in a specific raw material, your BI will let you know. To achieve all this organization, two elements are crucial: an excellent tool and a qualified team.
A Good Tool
Our BI allows you to have a complete overview of your business, identifying sectors, products or employees that are generating losses or profits. In addition, having a tool that centralizes and organizes data ensures that the right information reaches those who need it. Having information clearly available promotes greater integration between all sectors of your company, making everything more organized. You may have heard the famous phrase: “If employee X leaves, I don’t even know where to start.” When everything is documented and organized, the process becomes transparent to everyone, guaranteeing the continuity of your business.
This unified vision also makes it possible to identify areas in need of improvement, process optimization and strategy enhancement. An additional major advantage is the reduction of errors and inefficiencies. BI automates data collection, eliminating the need for error-prone manual processes. Intelligent automation ensures greater accuracy and consistency in data, saving resources. Also, be sure to check out our articles and posts on RPA.
A good team
Your team plays a key role in the relationship with BI: it can become an indispensable tool or just another cost. How can you change your team’s perspective? The answer lies in productivity. We often hear about tight deadlines and overloaded teams.
Having information easily accessible with just a few clicks makes it easier to solve small daily tasks that usually take up many hours. Let’s consider an example: every week, you need to generate a report with the main market data, information on the world stock exchanges and the euro exchange rate, among others. Can you imagine how many hours an employee spends researching and gathering this information? With BI, you can connect external data sources that provide this information in real time, allowing you to access it exactly when you need it, without the need to create spreadsheets and graphs from scratch.
From now on, your team will be focused on more creative and strategic activities, increasing success and significantly reducing employee turnover. In fact, reducing turnover has been one of the biggest challenges of this generation, with the need to create an increasingly welcoming and, above all, challenging environment.
Competitiveness: the order of the day
All large companies use BIs to organize their data, without exception. For years, Qlik® has been a leader in the sector, serving medium to large companies in a variety of areas. What we’ve noticed is that all these companies are able to gain a great competitive advantage over the rest. Having valuable information and insights enables a more effective response to customer needs, agile innovation and rapid adaptation to market changes.
The crucial point is that, with information, it is possible to better understand customer needs. This allows you to personalize offers, improve customer service and create more engaging experiences, which in turn increases customer engagement and loyalty.
In short, BI has become an essential strategy in an information-driven world (and information has become money). With the constant growth in the volume of data, it offers a solid basis for strategic decision-making, operational improvement, customer engagement and competitive advantage. It’s a choice that can lead your company to lasting success.
