- Posted by agrAdminEGG
- On June 23, 2020
Making your way in the modern market is really a difficult challenge. With the advent of globalization, it has become quite hard to get noticed. 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 the importance of data, a resource that was heavily underestimated up until recently.
It is not a secret that big companies nowadays relay on it a lot. Then again, we are talking about the main reason why companies like Google got to where they are today. Data has become a great source of income; Firstly, it made innovation possible; Then, it allowed us to base corporate growth strategies on every operating sector of a company. however, it did all this while, at the same time, being relatively simple to acquire.
Now, we are talking both about data produced internally and data coming from external sources. These can be combined to gain a complete overview of the main indices of interest. And it can be even easier if it is managed and organized with a Business Intelligence tool such as AgrEGG.
A Practical Example
Let’s imagine that we only have the production and sales history of the company’s products for the past five years. Now, let’s try to list what information we can get from it:
- the company’s flagship products,
- the periods of the year in which the products are mostly purchased,
- the sectors that are most productive or the ones that absorb most resources.
Now, let’s try to gather more hidden information by crossing this data. We can:
- highlight the most and least efficient business sectors to identify strengths or production gaps and intervene promptly on operating costs;
- discover how a target market is evolving and what new opportunities are ahead;
- understand who the main and best customers are (or identifying cross-selling opportunities);
- act on pricing policies;
- have all the information ready and save time on management and manual organization;
- have a 360 ° view of the entire production processes;
- reorganize staff into new teams for strategic projects.
How to Make the Most of Your Data
As you have just seen, with such little considerations, you can easily intervene on a great number of dynamics. So, what can you do when you have different types of data in your company and cross them with external sources? Then, you will be able to foresee unpredictable 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 focus your attention simply on where you want to take your company. Moreover, it will offer you the right means to identifying the changes you want to achieve.
Today, all companies have the opportunity to exploit their data with Business Intelligence. In fact, using the right tool, they maximize profits and minimize costs and you can do the same. Prodigys will help you unravel the hidden information that has been stored in you 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, get in touch with us today and choose AgrEGG.