Data....data.....data!

Data....Data....Data!

We are exposed to it every second of every day, some of this data is very educational and useful, but there is a shit ton of rubbish! The way the brain is able to receive it, process it, make a decision (most times good) and then complete an action is a streamlined process.

"Our brains are brilliant and fascinating things, able to do phenomenal stuff with data!"

So now I’ve laid the foundation for my article. I’m going to dip in to how we can allow for our businesses to define company KPI & KPA’s in a similar process. The brain always makes decision based on facts, and seldom on assumptions.

Businesses scattered all over the globe, big ones to small, gather, just like our brains, a massive amount of data daily, weekly, monthly and annually. This data contains the information necessary for a business owner to completely understand their business end to end. From sales figures, to manufacturing, distribution, marketing, financials, HR, etc, etc, etc.

Is my opinion that many business leaders rely too much on Gut feel. I mean how many times have you heard this, ’’The deal just feels right, or this person just feels good for the position, or we feel this product is perfect for our customer, or, or, or.....”

But hooray! This no longer needs to be the decision making process. Sure a significant weight is tied to the emotions when making decisions, but this can no longer be the basis for decision making in the future. Business must shift toward using the data they have gathered over the years and create SMART goals, which are calculated, attainable and based on factual data.

There are very many amazing tools and innovative companies operating in this space, a brilliant example of such a company is the HICO-Group {www.hico-group.com). As previously mentioned, the decision making process will still be emotional to an extent, but through the use of BI tools, facts now become the benchmark WRT to strategy and operational re-engineering. Fact now becomes ingrained in the objective setting process, for example, KPI/KPA planning, corporate culture and operational efficiencies, etc.

Most information nowadays is stored somewhere electronically. Invoices, delivery notes, proposals, sales results, forecasts, customer history, product dynamics, financials, project information, HR records, etc, etc, etc. Through the proper use of this factual business data, a goldmine in savings and new revenue will abound.

So stop ignoring the valuable company data at your disposal, hire a BI consultant and let them assist you. But just make sure it’s the right one, like HICO, the example mentioned earlier.

At ITEC we have many examples of our customers deriving huge value using the ITEC print director software and various other IOT technologies. This software is able to gather information from any brand of printer connected to our customer’s networks. Gathering information regarding paper levels, machine use, paper use, brand serial and model numbers, toner use, toner change interval’s, technical fault detection etc. Our engineers are then able to consult, and fix issues remotely, thus improving cash flow and business efficiencies.

This data lets us completely optimise their print infrastructure based on facts. We can make decisions intelligently e.g. How many printers are required, what sizes, how many colour vs. Mono machines, strategic placement of machines, correct sizing of machines to maximise cost per copy costs. With this BI info we are able to provide clients with maximum ROI on their print/copy expenses, all based on facts.

I hope this short article has motivated you all to start investigating some of the BI tools I have mentioned.

But just be sure you use experts in the BI field, who are focused and experienced in your vertical. 

Good luck as we plough our way through the new normal.......BI is the new normal WRT creating effective and healthy businesses. Make investigating this a priority this year, don’t be left behind, this technology will generate significant additional revenues. I guarantee it!