We have a simple question we’d like to pose: Do you want your enterprise to make more money?
Now, before you go on assuming that this is a trick question, a little background. At Netwoven, we work with businesses of all shapes and sizes; in a variety of markets and verticals; and located across the world.
Despite all of their inherent differences, one thing our clients and partners have in common is a desire to offer something of value to a consumer, and to be profitable while doing it.
However, we often find that many enterprises, before they have met us, are not doing everything they can in pursuit of the almighty dollar. Though they may have outstanding resources and enjoy favorability in their markets, they’re not optimizing the data that flows into their organization.
Enter Business Intelligence – the use of analytics and data to foster success. If this couplet represents an oxymoron at your company, then it’s high time to change the conversation.
Enterprises that employ a Business Intelligence strategy – we at Netwoven recommend a data visualization program driven by Microsoft Power BI – are five times more likely to make quicker business-critical decisions; and 85 percent of business leaders acknowledge that BI data will have a transformative impact on their business (incidentally, in 2017, it is projected that more than half of all businesses will be using dashboards like those in Microsoft BI to make key decisions about processes and profits).
Let’s take a closer look at four ways that you can put Power BI to work in your enterprise to gain better insights about your customers, and achieve more rewarding outcomes for your enterprise:
- Marketing superiority: It’s a fact of life today – data is flowing into your enterprise from all directions, piling up, unutilized, in some server or Cloud bucket. Put that data to work for you by using Power BI to monitor and analyze the efficacy of your marketing campaigns. By doing so, you’ll be able to shift resources to the most successful of your marketing channels. You’ll also be able to analyze the performance of your campaigns not just enterprise-wide, but by specific products and offerings. You can use this analysis to make sure you are upselling, cross-selling, and targeting the most engaged customers.
- Sales success: Forecasting gets a hyper-charge when you add Power BI into the mix. Even if you already use Microsoft Dynamics CRM or SalesForce.com, Power BI enhances these services by providing instantaneous visibility into your sales pipeline. Create relevant dashboards on the fly so you can dynamically drill into your customer sales data and reveal instant insights to drive decision-making and resource allocation. And, after the fact, you can use your Power BI data to CSI your previous deals so you can employ those techniques to close future opportunities more efficiently.
- Customer service success: Power BI will help you to watch, in real time, the impact of your customer support efforts on the consumer’s loyalty to your brand. Use this data to take advantage of opportunities to strengthen you relationship with your publics. Track things like the time to resolve support tickets, whether your team is hitting its customer satisfaction goals, and what impact this level of customer service is having on the company’s bottom line.
- Decision making – like a boss: Power BI is the great unifier for your enterprise – it will amalgamate all your data – like that which is found in Excel spreadsheets, web analytics, databases, and CRM systems – and serve it to you in personalized dashboards that suit your interests. Share these dashboards across your enterprise, so your entire organization is working to make the kinds of mission-critical decisions that can make the difference between ROI (return on investment) and SOL (s—t out of luck).
Ready to power your enterprise with Power BI? Reach out here.