Business Intelligence (BI) involves delivering and integrating business data within an organization. Research studies say that you'll reap significant benefits from every dollar invested into data analytics and business intelligence. So, rather than think of it as an expense, consider it an additional profit center for your business.
Even though companies collect information on a daily basis from multiple sources, how to organize data is often a challenge. If not organized and useful - what good is it really? In today’s business climate, business intelligence is a key to success, by giving companies a competitive advantage.
Business intelligence helps companies identify and monitor trends and detect significant events that affect the business. Having this data allows the business to quickly adapt to changes in the business environment and successfully move toward the new paradigm. Great business intelligence programs make you more competitive and more profitable. Keep in mind that even if you are not yet involved with data analytics and BI, that your competitors probably are. You risk being left behind without setting up a BI program to utilize the data that you already have.
Using business intelligence training will help your company and its decision-making processes, at all levels. This in turn improves your strategic management tactics, and allows for greater success with less stress.
The Importance of Data Organization
Business intelligence enables you to gain keen insights into your customer’s behavior. Business intelligence will help you to quickly analyze customer buying trends and understand them better. BI will also prepare you to develop additional products or services that match their consumption. It can also assist you in making changes to current products to make them more profitable and attract new customers.
Data organization is directly correlated to effective business intelligence. Good, organized data gives management better business intelligence and useful insights that are worth spending the time and money to glean from the data that you have already collected.
Ensuring Your Business Intelligence is Accurate
Having an efficient data organization plan in place ensures great business intelligence that gives you accurate information needed to make strategic plans for the company. When your data is organized and usable, it offers management key knowledge towards future plans and goals. Having strong data to back up your course of action gives your plans legitimacy and acceptance by your team. After all, wouldn't you want to understand why you are making some radical change in the way you do business? Getting the buy-in of your team is another vital key to success. After all, accomplishments are often greater when everyone works together toward common goals, and each individual knows the importance of their work.
Find Out - Is My Data Disorganized?
Knowing how to organize data is vital for good business intelligence. So, just how can you tell if your data is disorganized?
- Can you quickly find a customer’s information without a lot of stress?
- Do you have a way to follow-up with customers on previous orders?
- Do you automatically integrate new customer data into your system?
- Does your business have a solid process for data organization?
- Does your office run smoothly and do you have the data you need at all times?
If you answered no to even one of these questions, chances are that your data is disorganized, and fixing it should be a priority. More than one no answer means you need to get to work on it immediately!
Ways To Ensure Your Data Is Organized
If you’ve admitted that you need to learn how to organize data, there are a few pointers we can give you:
- Utilizing a good CRM system will help you get, and stay, organized over the long-term. Be sure the CRM you are using is a good fit for your company now, and that it’s scalable for the future.
- Data cleansing is the process of cleaning up corrupted or inaccurate data records from your CRM. It involves removing or correcting incomplete and duplicate records.
- Data organization involves standardizing, cleansing and merging records.
- Data integration collects the raw data from various sources and combines it in your CRM, utilizing your standard practices. This is the process of inputting the raw data in the format that is most useful to the company.
Data cleansing and integration are both vital parts of putting together a serious business intelligence platform. It ensures all of the collected data is input, complete and correct. Remember that the simpler you make the process for your employees, the happier they will be, and the more accurate your data will be as well. Both of these processes are used to give management better and more accurate data to use in planning and strategizing.
IntelligentInformationTM Provides Data Integrity
Business intelligence and the accuracy of your data affects your business profitability in many small ways every single day. Learning how to organize data and putting together a process for continued data organization will make your business run more smoothly and professionally while improving your company’s bottom line.
5X Technology enables you to succeed by extracting the data you currently have and helping you get more out of it. Our proprietary process, called IntelligentInformation™ solution extracts your data, processes it through our software, and tags records that are redundant, incorrect, or incomplete. It cleanses and merges the duplicates, and then puts the cleaned-up data back into your CRM system.
Our system’s features can be customized to your needs, all while providing standardization, cleansing, merging and data enhancement of your CRM data. When you have data that is easy to sort and organize, it is easy to use for business decisions that can impact your company's bottom line in a positive way.
5x Technology stands ready to help get your business organized and keep data organization at the forefront of all you do, and our IntelligentOfferings solutions are what you need to lower the stress levels in your company, save money and extract more useful data and business intelligence than you thought possible.
Now that you understand how important knowing how to organize data, business intelligence and quality data is to your bottom line, are you ready to take action?