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| image: blogs.gartner.com |
Companies collect,
process, and report on large volumes of data every year. The average manager
spends an average of two hours a day hunting for data. Unfortunately, almost
half of the information they get later turns out to be useless. For a business
to be successful, the top leadership needs to find efficient methods of turning
their data into useful information. To do this, they must carry out data
analysis.
Raw data simply
describes the figures and facts processed by the company every day. A company
will learn very little by looking at the raw data. Data becomes information
after it has been processed to add relevance, context, and purpose. For
example, analyzed sales data will reveal sales patterns and trends that can
help the company make very important decisions. Analyzed sales data will reveal
which items move fast and in which periods. An example is a sales and inventory management solution we built for Coretronic Nigeria Limited.
In order to
increase productivity/profitability, a company must carry out business analysis
and act on analyzed data. Today, the level of competition in the market
requires companies to be proactive when it comes to the changing environmental
conditions and the changing demands from customers. But decision-making has increasingly
become more difficult because of the large volumes of data that managers have
to deal with and understand. However, this process has been made easier, thanks
to the business intelligence tools that we help design to assist managers
with decision-making.
Business
intelligence tools process data from multiple sources and then they produce
reports on the information to increase the decision-makers’ knowledge. The
tools help decision-makers understand customer preferences, identify growth
opportunities, and increase competitiveness.
Don't forget to reach us at info@urbizedge.com and +234-808-938-2423 or +1-941-312-2094
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