6 February 2019

Smart decisions reduce costs and improve business success

Many companies already have integrated systems that allow them to aggregate all the data coming from the various departments. However, in addition to having access to such structured data, it is essential for leaders to be confident in their accuracy and ease of reading, so that they can make more reliable and smart decisions. That is why Analytics and Big Data solutions make these data more meaningful and essential to make better business decisions.

Today, companies that look at their data by recognizing their value and making predictive analysis gain a competitive advantage over competitors, regardless of the industry in which they operate. With a full and real view of the business, it is possible to increase sales, launch new products and gain productivity, always with the goal of making smarter and more efficient decisions, reducing costs and increasing profitability. Thus, having a tool that helps to better respond to the daily challenges of the organization, allows them to analyse investments and risks, interpret factors that directly or indirectly influence profitability, provide safe information quickly, simply and efficiently and all these will lead to increased competitiveness.

It is important for the decision-maker to focus on the feedback that technology can bring, since the right information at the right time takes on a key role when it comes to making resolutions and often deadlines and pressure for decision-making lead to more intuitive, hasty and routine resolutions, without even having a full and real knowledge of the situation.

With the right technological solution that has in mind your business needs, decisions are made consciously and based on the analysis of factual data in real time. Also, because the KPIs obtained and interpreted give the manager several scenarios and possibilities, which help him to better define and decide the paths to choose.

Data is like gold for companies, but only with an effective analysis of these data can they take a competitive and differentiating position in the market, adapt more quickly to external factors, respond efficiently to customers, convey a better image of the company and bet in innovation, in order to always be in competitive advantage with competitors and at the forefront of a market that is increasingly volatile, demanding and complex. In addition to better results, technology also allows cost reduction. It is certain that any manager wants his company to be more profitable and with lower costs. However, the market develops every day, opportunities and threats appear unexpectedly, and data is produced today at an overwhelming pace and they are critical.

Thus, managers understand today that in order to make smart decisions it is necessary to abandon old management models, which are no longer competitive to embrace new business models, where technology plays a prominent role, and which bring more value to the organization. The lack of a macro view of all company data is one of the factors that most contributes to error when taking decisions. Therefore, data should allow for reliable, relevant, predictive insights to be relevant to more effective decisions.

Anyway, the use of technology reduces the time in the execution of tasks, which allows an increase in productivity. In practice, the generated reports are structured and translated into optimized and efficient solutions for the business.

In addition, Analytics and Big Data tools help companies to identify the improvement areas and procedures and where you can cut costs. Improving and optimizing processes, predicting behaviours, maximizing sales, and identifying new opportunities brings organizations greater competitive advantage and the possibility of achieving excellence. In addition to the cross-referencing of information, solutions are customized and optimized for each business.

In fact, Analytics and Big Data technologies can help to identify opportunities for cost reduction, project feasibility, cost optimization and investments, which will naturally lead to increased profits, productivity and eliminate unwanted costs. However, it is important to realize that smart decisions will translate into cost savings without affecting process, service / product quality, and responding to increasingly demanding and informed customers.