By collecting and analyzing data, you can gain valuable insights into your business operations, identify areas for improvement, optimize your workforce, and automate repetitive tasks. Do you want to take your business to the next level? Don't underestimate the power of data!
As the world becomes increasingly digital, data will only become more important. The growth of digital technologies has meant that businesses now have access to more data than ever before. Businesses that embrace data and use it to their advantage will be the ones that succeed in the future. Just look at how much data is estimated to be consumed in 2022 compared to 2025!
So what does this all mean for businesses? It means that they need to start focusing on collecting and utilizing data. Those that do, will be able to make better decisions and find new opportunities for growth.
○ Old, outdated reporting system
○ Infrequent & inadequate reporting
○ Mostly historical analysis
○ Mostly gut-based decisions
○ No "single source of truth"
Instructor: Scott Sugar, ProServeIT Course for: IT, Marketing, Sales, Finance, & Operations
Upcoming Class: Tuesday, October 18th, 2022 at 1:30PM - 2:30PM ET (1 hr)
Business challenges they were experiencing: The organization's ERP system was their reporting source. It significantly slowed down whenever they ran reports manually to extract data. Running reports and creating Excel formulas required a significant amount of manual effort.
How they leveled up from Level 1: With daily automated data extraction from the ERP system to their data warehouse, they eliminated their ERP performance issue and manual efforts. They also used Power BI's built-in AI machine learning visualization capability to help with their current business analysis, such as reasons for price increases based on location, time, and key vendor.
Taking it to the next level from Level 2: The organization can now forecast their market by bringing in data from external data sources to understand how they need to price their product and compare themselves to their competitors.
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