Regardless the industry and the size of your company, when it comes to making strategic decisions, we often rely on gut feeling, ad-hoc reports or other traditional approaches. A recent study found that 58% of respondents said their companies base at least half of their regular business decisions on gut feel or experiences, rather than on data and information. And, some of the most crucial reasons for not using data for decision making are the lack of data availability and data of poor quality.
With the increasing emphasis on data-driven decisions, we can no longer depend on emotions and intuitions. Because, a good decision always need insights from the past, present, and the future. To gain better visibility and control over the data, you need a data-driven culture across the organization. So that everyone can recognize hidden patterns, can find the solution to their unanswered business problems and can make smarter business decisions.
For instance, in project portfolio management – from executives to project managers to team members – everyone needs insights at various levels. A team member wants to know the list of tasks, the priorities, and the timeline for these tasks, etc. A project manager wants to know which project is performing well, who is available to work for the project and so on. Executives need to know the overall company portfolio to check the overall business progress and plan investments. They all need data that they can trust to facilitate decisions making and take actions. Advaiya AdValue offers a set of pre-built templates and click-to-deploy BI dashboards available for different roles in the organization to access all relevant project information quickly and make informed decisions on-the-fly.
If we talk about marketing, the digital world has changed the way marketing happens. Unlike in the past, marketers today need varied insights before planning their strategies. They want to know the performance of the campaigns executed in the past, platforms that worked well for them, tactics that have given good results and other crucial numbers. Getting an in-depth and unified view of all the relevant information is easier said than done. Because, data is coming from a variety of sources, both internally i.e. within the organization, or externally from social media and other channels. Data-driven marketing help marketers reach the right people with the right message at the right time and make marketing relevant. A study by Forbes states that two-thirds of engaged data-driven marketers are seeing new customers because of data-driven initiatives. Advaiya Adaptive BI services help you monitor and analyze the business health data the way you want so you can take actions right away.
From improving the customer experience to increasing efficiency and reducing costs, organizations of all sizes are using business intelligence and data analytics to make smarter and data-driven business decisions to plan better for the future.
Do you want to transform data into insight and action? Contact us at [email protected] or give us call +1-425-256-3123 and let’s get started!