23 March 2021

Technology as a decision-making facilitator

What role can technological solutions play in decision making? How to decide more accurately with less risk? How to guarantee decisions that lead to a continuous performance increase of your business?

On a daily basis, managers need to make decisions that will lead the business to prosper. Even more so in these uncertain times when consumption has fallen and all companies have new challenges. The focus on technology is synonymous with innovation, optimization and growth, which means more resilient, efficient and flexible businesses.

For this reason, contrary to what previously happened, today it is not possible to manage or make decisions based on experience and intuition. The margin of error is getting smaller and smaller, and it is necessary to make smarter, more informed and assertive decisions in an increasingly competitive market.

Many organizations also resort to graphs with scattered data, several versions of the same disaggregated truth and different views of the results, which leads to losses in efficiency, risks and, often, misfits. Several studies indicate that about 88% of Excel files, for example, contain some type of error, small or high impact.

Data Analytics and Artificial Intelligence solutions make it possible to have the most relevant and up-to-date insights that guide decision making, allowing to streamline businesses, anticipate market changes and manage risks. By having a 360 degree view of your organization, the market and the customer, you can analyse large volumes of data and retrieve information easily and quickly.

The pandemic has forced companies to react quickly, to transform the way they do business and to create new ways of reaching consumers. Technology has assumed a prominent role here, making it possible to have sophisticated solutions on a daily basis that enable productivity gains.

Data take on a vital role when properly worked, as it allow us to draw relevant insights for decision making, develop intelligent strategies, minimize the possibility of error, create an offer of personalised products and services and obtain greater competitive advantages.

Thus, Data Analytics and AI solutions allow for more agile processes, more fluid communication between departments and greater competitive advantages. Management is able to optimize operations, reduce costs and improve competitiveness with access to reports and dashboards where they can follow the evolution of the main business indicators.

In a challenging economic scenario, it is necessary to create new profitable opportunities that guarantee competitiveness and efficiency, and here having access to the right information is crucial. To align strategies and create opportunities, it is essential to be aligned with the market, in order to offer products and services that go towards what the consumer wants.

By knowing in detail the tastes and needs of the consumer, a retail company, for example, will be able to direct marketing campaigns or know the best-selling products in the online store. On the industry side, knowing the entire production chain allows identifying gaps or optimizing processes. But there are several benefits that companies have with an integrated and real view of the most important data for the business, regardless of the sector in which they operate.

With access to real information, managers can more easily analyse the possibilities, predict the impact and make more conscious, intelligent and assertive decisions.

With Analytics and AI solutions, you have the most accurate and real-time data available, which changes the way you do business, automating processes, optimizing the relationship between the customer, company and suppliers, work methodologies and, of course, the results.

Companies that see data as a relevant asset are more efficient, competitive and profitable, managing to adjust operations and strategies to achieve goals and profitability gains.

Have you ever imagined what you can achieve by adopting Data Analytics and AI solutions in your Organization?