BI solution

Can Business Intelligence Really Make a Difference in Finance Departments?

With all our advances in technology and self-service software, many finance departments are still not embracing automation or AI. In fact, a report from the Association of International Certified Professional Accountants and Oracle found that 89% of finance teams are not embracing these technologies.  Management of financial data is a cornerstone of running a business. So when it comes to data input, reporting and critical decision making, why are some still relying on error-prone and laborious methods? There are many reasons, of course. For many, it comes down to either the discomfort of change and system integration, or security concerns. Most simply lack the digital skillsets needed. Despite these perceived hurdles, solutions like business intelligence (BI), offer finance teams a central hub for data collection,…

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Comparison: Business Intelligence vs Excel

Are spreadsheet solutions like Excel becoming obsolete? With data sets getting bigger and bigger, growing companies need intuitive and real-time tools to make the most of their data.  Traditional spreadsheets have been the bread and butter for businesses for decades. Their universal usage has made them the tool of choice for planners, accountants, and entrepreneurs around the world. For growing businesses taking advantage of our current age of ‘Big Data’, however, more sophisticated tools are essential moving forward. Business Intelligence (BI) software is one such tool that gives leaders the power to make informed, timely decisions based on their data. Through the processes of analyzation, visualization and prediction, executives can identify competitive advantages, streamline action plans, find new opportunities, and boost revenues. Spreadsheets, on the…

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BI for HR: Hire, train and retain with business intelligence insights

“Start with good people, lay out the rules, communicate with your employees, motivate and reward them. If you do all those things effectively, you can’t miss.” – Lee Iacocca   Gone are the days of overlooking human resources as a vital piece of the business success puzzle. Worker well-being, a blended workforce (AI, freelancers, contract workers), continued trainings, workplace experience, inclusivity — all trends that support the emergence of a people-first business world. At the end of the day, employees are a business’s most valued asset, and happy employees directly translate to happy customers and higher profits.  With growing HR initiatives, understanding the impact of data generated during employee life cycles is critical. And what we glean from that data can jumpstart company processes in…

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Dyntell Bi - Tried and True Tips for Better Data Visualizations

Data Visualization

Tried and True Tips for Better Data Visualizations

Whether you’re a data analyst, manager, or team leader, pitching your ideas and newfound insights to upper management can be daunting. Will your message land? Will they be on board with your big discovery? Is your presentation impactful enough? Data rules the roost and using tools like business intelligence software to filter, analyze, and visualize complex data sets are now the norm. Crafting these visualizations into easily digestible, compelling, and convincing presentations is the real challenge. Audiences should be able to see and understand a slide or image within three seconds, otherwise, you’ve lost them. The Glance Test, as it’s called, is just one way to improve your data visualizations. Here are six more.   1. Keep it Simple. KISS (keep it simple, stupid, or…

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4 Ways to Boost Your Customer Service Using BI Analytics

General Business

4 Ways to Boost Your Customer Service Using BI Analytics

As customers expect more and more from companies they do business with (including freebies), keeping up with and exceeding expectations is no longer optional. With market saturation, fierce competition, an economic depression and COVID-19 complications, operating a business in current times is downright tough. In today’s already customer centric marketplace, making stellar service a top priority is one sure fire way of standing head and shoulders above the crowd. Making that customer care as personalized as possible takes it one step further. Data insights provide the opportunity to identify what’s working and what’s not, and how to deliver timely service. The question is, how do we find these elusive insights?    Whether it’s over the counter transactions or online touchpoints, getting the most out of…

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Build Your Sales & Marketing Strategy from BI Insights

Marketing Analytics

Build Your Sales & Marketing Strategy with BI Insights

Developing successful marketing strategies has relied on data to a certain extent for decades. From surveys to sales reports, numbers were crunched and filed, filled into spreadsheets, and studied for trends and patterns. Nowadays with the advent of big data analytics, we have more data than we know what to do with. With ever increasing online customer touchpoints, data is continuously being created. Thankfully, solutions like business intelligence software enable us to collect, clean, analyze, and visualize that data into a more digestible format.  Marketing teams can use actionable insights related to which products sell best at certain times of year, which customer profiles match certain behaviors and so on. Price sensitivity can also be identified depending on countless variables to ensure a custom, streamlined…

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Dyntell Bi - How Well Do You Know Your Customers’ ‘Price Sensitivity’?

Sales

How Well Do You Know Your Customers’ ‘Price Sensitivity’?

Price sensitivity is a key measure in most industries, especially those with many competing products (FMCG, for instance). Price sensitivity is measured in the economic theory via price elasticity of the demand function. In other words, how demand for a given product is affected by a change in price. High elasticity means consumers are willing to purchase even with increased costs. Inelasticity, on the other hand, means even a small price bump will significantly reduce purchasing. What we want to find is the ‘equilibrium price’, the point where supply and demand meet to maximize revenue. There are many factors to consider when discussing price sensitivity: competition, uniqueness of the product(s), buying process, etc. Other things to consider could be shared cost, like when a group…

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Dyntell Bi - BI Automated Alerts - Simplifying Complex Workflows

Alerts

BI Automated Alerts – Simplifying Complex Workflows

Notifications and alerts have become an integral part of our lives, hour by hour, minute by minute. In fact, many of us look forward to them. Our devices bleep, boop and display pop ups that notify us of new content, new messages, new world events, and even potential new romantic partners.  But what about our businesses? What about being notified when something occurs within your organization in near real-time? Something you can take direct action on — capitalizing on an opportunity or averting a disaster, for example. An alerting system, such as those in BI softwares, provides just such a service. Let’s explore what makes an alert effective, what to avoid and how alerts apply to everyday workflows. To put things in context let’s have…

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12 Charts and What Can They Teach Us About Post COVID-19 Buying Behavior

COVID-19 Crisis

12 Charts and What Can They Teach Us About Post COVID-19 Buying Behavior

We’re living in very strange times. We’ve been plunged into a new paradigm of living and no one quite knows what to expect next, not even our top experts. Now that many nations have apparently passed the peak of this pandemic, economic recovery is at the forefront of efforts. The question is: How will we navigate the post-COVID-19 era? Is there a new normal, or just a constantly changing landscape?  How have buying habits and consumer behavior changed, and are these trends that will continue for the foreseeable future? Nothing is certain, but we can glean some insights into how people react and change with such uncertainty through search and buying data. Our goal as businesses isn’t to take advantage of society at large during…

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