In business, when making a decision is needed, it is usually needed quickly. And if the correct information is not readily available in the right format, we have to make a decision and move on. We all have a tendency to make decisions based on our assumptions and feelings and we all do that quite often. While this is needed from time to time, it is not the right approach in business. Making a decision is different from making the right decision.
We all agree that data-driven decisions result in stronger and more predictable outcome. So, the question is why many business owners, leaders and managers still trust their gut feeling and make uneducated decisions? we believe there are a couple of simple! reasons:
Quite often the Information Management Systems don’t measure what really matters to the business; and
The right data in the right format is not readily available to the decision makers when it is needed.
We said simple just because they are simple concepts and they just make sense; however, fixing these issues require a significant amount of work.
In the last decade or so the technology has advanced significantly and many companies- small shops to large enterprises- utilize Enterprise Resource Planning (ERP) systems and other business management tools to capture real time data about the flow of information and material throughout the value stream. Having this data available is crucial in running a data driven business. After the right data is captured, one can review the business needs and define what matters the most to different users in the organization and automatically present those numbers to them in useful and meaningful templates. Having access to real time data in the right format can provide a huge value to the decision-makers at every level of the organization.
The good news is that Business Intelligence (BI) tools are commercially available in a wide range of capabilities and if data exists somewhere in your systems, they can be easily analyzed, tabulated, and presented the way it makes sense to your decision makers. These dashboard making tools utilize low code-no code programming concepts and make it so easy for anyone in your organization to learn and tweak the way the data is presented to them.
Techam Solutions is capable of applying advanced management tools to help you identify and measure what matters the most to your business. We can also assist with developing business intelligence dashboards to make the right information readily available to your decision makers.