Data-Driven Decisions To Improve Profits
Running a company generates an enormous quantity of information. But much of this lies underused through the various databases and files in your business. A great deal of this information is created for quite particular but narrow record keeping functions. But, an individual could take a look at this information in another way with the objective of finding patterns that indicate methods to enhance sales, enhance efficiencies, and streamline procedures.
But doing so is not practical for many companies because the info is silo-ed, so it can not be brought together without a lot of manual labor. Making sense of this might also need excellent data analytics and demonstration program.
Businesses using SAP Business One do not have these obstacles because all their company data is accessible. Therefore, all programs have instant access to the massive pool of information. SAP Business One also comprises of powerful data analytics and demonstration applications, which allow profound insights in to how to run your company better.
Here are two examples to illustrate:
What goods are bringing the maximum revenue? Just how much of this can be generated by repeat clients? And what exactly are their purchasing patterns? Answers to those questions can allow you to decide about which to sell and to whom. For improved earnings, you should avoid treating your clients as though they’re the same. Personalised marketing permits you to make individualised offers which you understand your clients will want as you understand their previous purchasing patterns.
The ideal analytics will create their purchasing patterns more transparent. As long as you have your clients’ email addresses, you are able to make offers they will not likely deny. You’ll also gain insights to which merchandise to up-sell or cross-sell into them.
Improved Manufacturing Efficiencies
As opposed to keeping extensive (and costly ) inventories of these components and materials required for your manufacturing operations, enhanced insights in to the supply chain will permit you to time imports so they arrive before they are required to the production runs.
Improved insights in the data also permit you to identify bottlenecks that delay, slow, or even limit your manufacturing runs. On occasion a little “tweak” is all that is required to see large performance improvements.
The above examples are two of the many benefits of data driven decisions made possible with SAP Business One. Contact us to learn how your business can benefit from this solution.