Today, small to medium-size business owners are drilling down on the data they collect, but may throw up their hands when it comes to making sense of it. They see trends but lack the analytical tools (software) to derive value from all the customer profiles, preferences, purchasing histories and other information pulled from an array of sources.
Drilling down with analytics…start small.
But the dilemma speaks well of ‘good intentions’ in the mind of the business owner. The idea, so the logic goes, is to find ways to increase revenues…maybe build more customer loyalty programs…and pinpoint areas where the competition lags.
By using today’s Microsoft Dynamics enterprise resource planning systems (ERP) in conjunction with its customer relationship management (CRM) module SMBs can begin monitoring, finding data patterns and make actionable decisions.
A simple approach…
Information Management looks at the mechanics of analytics in its overview on how to “find the business in your data.”
Above all, everyone in the company needs to agree on the overall mission, or goals: objectives should be well-thought out.
It’s almost too much to ask for a business to abruptly switch, say, to the cloud in one fell swoop. What’s needed is a steady and measured approach as the business readies itself to embrace “emerging big data technologies.”
Consequently, it’s best to agree on a project (pilot) to garner as much insight from the data as possible. In one study, a company updated their pricing model frequently, which led to an increase in revenues.
To learn more about Enterprise Resource Planning (ERP) systems and the Microsoft Dynamics product line, contact us. We offer competitive subscription rates, quick licensing and options for implementation.