So you’ve got a customer relationship management database (CRM), a human resources information system (HRIS), and an inventory management and supply-chain tracking system (ERP), now what?
In addition to making the actual tracking and managing of these underlying processes easier and more efficient; getting the right software and technology in place gives you an amazingly sharp line of sight to aspects of your business that you may have only guessed about in the past. This is business intelligence, and the key is to take this new found intelligence and make it work to your advantage.
Business intelligence is your data – filtered through your knowledge of the marketplace, your knowledge of your business and operation, and cross-referenced against the various puts and takes of your overall business process. You can tailor marketing campaigns based on trends in who’s buying and what’s selling. You can select or negotiate contract terms with your suppliers or vendors based on who delivers the best quality, the best performance and at the best cost. And you can make decisions about your operation and your employees based on which divisions are most cost efficient or most productive.
