In a recent survey of over 1300 Global CEO’s, 77% ranked Operational Efficiency as their primary focus of driving 2019 revenue growth. When tasked with how to turn this focus into an actual strategy, the answer should be to take advantage of Business Intelligence cross departmentally.
Business Intelligence (BI) takes advantage of anything from historical and present data, real-time and mapping analysis, and dashboarding. These different types of data and tools are ultimately used to help make informed data-driven decisions.
Tools such as Power BI can be used to deliver insights to enable fast, informed decisions by supporting the traditional ad-hoc reporting that is seen in a plethora of operations departments and by aggregating data in one centralized place for self-service reporting.
Here are examples of ways that BI can be better leveraged to improve business operations.
It is no secret that even with the rapid emergence of technology in the work place, employees are an organization’s most important asset. Thus, it is important that a Human Resources department can identify how to improve the end to end employee experience. So how does BI play a role in said improvement?
The vast amount of data that is available allows for a much more extensive hiring process. In the past many decisions for a company, including the hiring process, have come down to gut-feel and questions of “does this decision feel right?” But that is no longer necessary. Analytics can now allow HR departments to find the right candidates by refining the recruitment process. How?
BI tools have new and advanced visualizations capabilities and features to allow us to surface information. This gives way for companies to identify not only WHO to hire but WHEN they will need to hire, and if done right it is a huge step forward for operational efficiency. Through using the reporting capabilities of a BI tool, an HR department can gain further insight to departments that may need more staff, departments that may have higher or lower productivity than others, and even further go straight to asking the why’s.
Accounting departments are often at a battle with the clock. This means that finding efficient ways to generate reports and capture meaningful and key information from large amounts of data is and should be at the forefront of every company’s mind. Why? Because the more efficient each department is individually, the higher functioning your organization can be all together. With tons of data rolling into their department daily, BI should be leveraged to help alleviate these common issues:
The most evident benefit to using a BI tool is the beautiful and simple dashboards and data visualizations that can stem from using them. With the influx of data that gets placed into the hands of the finance department it can become tedious to keep up with what all the data coming in can really tell you about the operational and financial efficiency of the organization. Tools like Power BI can leverage data from tools like QuickBooks to monitor, visualize, and communicate concepts like:
Dashboards and data visualizations not only help alleviate this problem but can enhance the departments reporting capabilities.
Budget planning can be on a company-wide basis or project basis. When formulating KPI’s with the business, it is important to maintain and compare budget versus actuals over time. Within Power BI, budgets can be used in the following ways:
Having a strategy and a Business Intelligence tool in place to help track these KPI’s saves not only a significant amount of time, but will likely have an output of more accurate reports.
Having a successful cross-departmental BI strategy and the right set of BI tools in place, will open doors for your organization to make more educated business decisions to drive success. From your human resources department to your accounting department, having a solid BI strategy should allow you to drill deep into your data, and provide a consolidated view across the whole organization. With the majority of leadership in organizations across the United States putting high value on Business Intelligence initiatives to gain a competitive advantage, there's no better time then today to get started with building out a BI strategy in your company.
So, where do you go from here? If you’re ready to start gaining actionable insights through Business Intelligence and Analytics in your organization you can begin by checking out our Assessment, Vision & Roadmap Checklist or contacting an expert at firstname.lastname@example.org.
CCG understood our project needs very well, they are very responsive and we could not ask for anything more. The solution they provided fit perfectly with our expectations and business goals.GOP Data TrustChief Data Officer
I cannot overstate the delight we experienced from the outcome of our project. I would not only recommend CCG to any company, but question why they would engage with anyone but CCG.PgiDirector of Customer Success
Working with CCG is like working with extended team members. Consultants become an integral part of the work bringing expertise for cutting edge design and development.Hillsborough County Public SchoolsChief Information and Technology Officer
CCG's team is positive and eager. They are a great big bunch of wonderful people trying to make a difference.Hillsborough County Public SchoolsDepartment Manager
I knew CCG's technical expertise and dedication to quality results would be invaluable to our project success based on our past partnerships. We could not have implemented in the short timeframe like we did without their assistance. CCG is #1 on my speed dial for successful project implementation.InCommDirector, Financial Information Systems
It was evident from the onset of negotiations through the implementation that CCG took their role in the partnership to heart and we believe it has been instrumental in our success.Interval InternationalDirector of Marketing
CCG works very hard to understand and align with our needs. It truly feels as though we are on the same team!Fortune 500 HomebuilderBI Manager
CCG came to our company in a time of much change. Their team partnered with ours, continually delivering with professionalism and efficiency. We would not be where we are today without the expertise CCG brought to the project.PSCU Financial ServicesSenior Program Manager
CCG has a good industry knowledge, we are very happy that we chose to work with CCG. They have been a great help strategically and are helping us make important decisions.Minneapolis Public SchoolsHuman Capital Coordinator
Other Vendors use the word Partnership, but CCG actually means what they say. I can’t thank them enough for their professionalism and willingness to work with us as a true Partner, not just another vendor.PODSCIO
Our CCG Consultants are total rock stars: very thorough with a solid knowledge of the financial services industry. As a bonus, they are very easy to get along with – a great fit for our team.Raymond James Financial ServicesSenior Manager of Enterprise Data
CCG's team are all amazing. Thank you, CCG, for all that you do to make us great and keep our credit unions moving forward!PSCU Financial ServicesVP Enterprise Analytics & BI
Other Vendors use the word Partnership, but CCG actually means what they say. I can’t thank them enough for their professionalism and willingness to work with us as a true Partner, not just another vendor.PODSChief Information Officer
CCG's Team is very professional and responsive. They are making our job very easy.Rollins, Inc.Senior BI Analyst
CCG did an excellent job! Their team was very flexible. They gave us everything we asked for and then some.Rooms To GoSenior BI Architect
I'm amazed at the talent at CCG, not just the skillset - they're really good people. We've already referred them once and will do so again!Ruth's Chris Hospitality GroupCIO
CCG did a great job! We're extremely impressed with what was built in a short time. CCG has delivered ahead of time and with best practices, it's been a pleasure to work with them.VologyVP of Analytics
2502 N. Rocky Point Drive, #650, Tampa, FL 33607
Phone: 813.968.3238 | Fax: 813.200.1357
8000 Avalon Blvd. Suite #100, Alpharetta, GA
Phone: 404.328.7298 | Fax: 813.200.1357