Treat your business data as an asset with Zed Axis Business Intelligence System!
Importance of business intelligence system!
Long back, business intelligence tools were managed by data analysts and IT teams. These departments were serving as the gatekeeper of analytics and the entire company depends on them to create the data and draft reports for the BI projects. But now, after the development of technology, businesses have various kinds of solutions providing visualization and analytics capabilities opening up business intelligence useful to everyone.
Why you need to integrate Business Intelligence System?
However, due to time and budget constraints, some managers do not come forward to invest in Business Intelligence tools. They may think that they are saving money but in reality, due to the failure of implementing business intelligence, they are losing money. Let us discuss the main pain areas of the client in this blog.
- Inaccurate awareness of profitability:
Companies that depend on traditional spreadsheet recording do not have an exact profitability figure. The worst part is spreadsheets contain errors. When you search on the internet, you will find that high profile companies are switching towards advanced BI applications instead of spreadsheets mainly because of making an entry in the wrong cell or misplaced decimal point. Also, because of the complicated kind of rebate issues, it is hard to exactly find their perks.
- Resources and time in the IT section:
Another major drawback of not using BI application is the expenditure of maintaining resources and staff to take care of the tasks of the IT department. When you have a quality BI solution, the IT department can save a lot of time accomplishing requests for reports. Also, the end-users obtain the ability to share and print the reports appropriate to them. When the IT department does not have report generation duties, they will have enough time to focus on important problems like security.
- Under or overstock costs:
A talented warehouse manager can develop a strong drive for company trends. But, instincts are subjective. When you do not have fast based, detailed data, it is impossible to determine changing plan or trends for seasonal fluctuations, mainly when you want to consider how fast the market is transforming today than it was twelve months ago. Mostly, the business would be depending upon monthly or quarterly reports and because of depending upon IT to modify and perform further enquiry from this news, the data provided become out of date by the time the business receives.
BI helps you to instantly determine and respond to the changes happening in stock before it results in to under or overstock issue. The latest brand can easily outsell the longstanding brand. At times, the competitor would have increased the rates and customers flock to your business. If you have implemented BI, the inventory manager would notice the progress in real-time and instantly replenish the inventory to cater to the customer’s demand.
- A leaky bucket:
In this concept, the bucket represents the company and the consumers are water the bucket holds. If the leaking rate of the customers is high, it is waste to add water that is new sales. ERP systems offer information on new customers and sales revenue. But the systems do not offer analytics about the type of customers you are dropping. Remember, customer acquisition is expensive than customer retention. The capacity to find out the number of customers you are dropping is very important for your business.
BI helps in designing affordable targeted marketing campaigns that help in minimizing leaks and obtain new customers. When you can have an idea of customers buying trends, you can easily discover the best methods of enhancing product mixes or refine pricing strategies to match the changing preferences of the customers.
Know About Zed Axis Business Intelligence System:
Companies that are undergoing digital transformation ensure to implement analytics software. Some of the important analytics tools set up in companies include BI (Business Intelligence) tools. Zed Axis Business Intelligence system offers visibility into the company’s information. With the capacity to understand and visualize business data, the employees can make informed decisions and positively guide the company. As the business has to access a large amount of information, it is mandatory to execute a top Business Intelligence software to completely understand and take action according to the data.
Some of the key perks of the Zed Axis Business Intelligence System:
- Explore new insights that improve the bottom line
- Motivate data-driven resolution making for optimizing business
- Connect entire data sources of the company into a unique platform to create cross-department connections
- Easily understand and visualize data
Features of Business Intelligence System:
- Outbound and inbound CRM system:
Zed Axis CRM software tool permits the clients to focus on the special components of the industry and also transform the entire structure to equal their business. The CRM tool helps the clients in developing smooth association with their valued customers.
- EOB or Employee on-Boarding system:
Zed Axis EOB system aids in managing employee’s details or information such as verifying, approving, tracking and collecting the documents and forms. Thus, it eliminates spreadsheet work and saves time.
- 3PL or Third Party Logistics Management system:
Zed Axis Third Party Logistics tool is utilized when the client’s companies outsource logistics and supply inventory to another company. Zed Axis functions as the third party software solution provider and maintains the entire back-office tasks of the client’s business.
- Channel management and partner relationship system:
This tool serves in extending the client’s business and deliver the product throughout the world, thus generating more revenue and efficiency. It permits social media channels comprising app mode to reach better.
- Campaign management system:
This tool aids in managing several marketing campaigns. Campaign management software optimizes and develops tasks and proves that resources are allocated exactly throughout the company.
- Lead management system:
This tool helps in taking care of leads, track their activities and records, justify, offer complete attention and thus, take towards sales and transfer to the connected sales team.
Why Choose Zed Axis Business Intelligence System?
- Reduce business expenses:
From customer behavior analysis and sales planning to actual process optimization and monitoring, the Zed Axis Business Intelligence system enables fast analysis, planning, and reporting processes. The majority of the BI users report that they experience some prominent benefits that assist them to increase revenues and reduce expenses. If you can function accurate and fast, it is possible to make profitable adjustments and accomplish better business results.
- Eliminate manual tasks:
Zed Axis Business Intelligence system let you automate the reporting procedure with particular time intervals. If you want a presentation, you have to drag and drop the values and thus create a powerful dashboard. You can use it to directly interrelate with your screen.
- Users can make use of predictions:
Earlier, it was known that only data analysts or scientists can perform predictive analytics. As Zed Axis Business Intelligence is integrated with forecast engines, the business users can develop insights for future scenarios, helping in adjusting existing strategies to offer the best results. If the business situation changes, smart data alerts protect the anomalies that happen when you manage huge levels of information and discover new trends and patterns that help you to take action immediately.
- Unlock data access:
If every individual in the organization is equipped with a Zed Axis Business Intelligence system, the tool will assist the employees to discover data on their own and minimize the requirement to get reports from the IT group. The self-service Business Intelligence approach offers businesses a modest advantage since each individual will have a sufficient level of data analytics abilities that will consume the resources and time of the company without unburdening the IT department and also concentrate on important tasks.
Who can get Zed Axis Business Intelligence System?
- BI for sales departments:
Business Intelligence system offers valuable insights into entire features of the sales sector. By analyzing the customer’s buying patterns, you can offer valuable data to the sales managers. Also, they can instantly determine sales opportunities and new trends. The managers can determine how the products are performing by individual sales rep, sales team or region. When the sales are dropping in any specific region, the manager can determine the cause and offer support to end the decline.
- BI for executives:
BI offers a comprehensive and clear picture of the overall performance of the company. For example, with the help of Zed Axis Business Intelligence software, the executive can personalize the metrics and customize their dashboards as per their unique requirements. Through the dashboard, updated information is easily accessible, empowering managers to identify trends, develop fact-based plans and create important decisions based upon information instead of gut instinct. The mobile capability offers access to information whenever and wherever you require it. Most executives utilize the Zed Axis BI system while travelling or during board meetings. As executives face time constraints most times, having updated, instant, mobile access to information helps in improving efficiency and develop more time for associated pressing matters.
- Benefits across seniority levels and departments:
When you have a quality BI system, you can collect information from entire disparate systems and offer holistic insights in a single place. Zed Axis Business Intelligence systems are developed to be utilized by all individuals in the organization like sales reps, department managers, senior executives and other employees. It means any individual in the department can utilize data and determine actionable insights as per their domain. With the help of security settings, the users can grant access to data that is relevant to their team.
- BI for marketing:
Business Intelligence can be utilized to guide the progress and uncover trends of marketing campaigns. Once the campaign is completed, the application can be utilized to view the effectiveness of the campaign. The BI tool also helps the team to mingle with sales departments and share reports when creating promotional offers.
- BI for finance:
For any company, financial well-being is very important. Having a detailed, accurate financial picture is important for ongoing success. The accountants and financial managers can utilize the latest financial statements tool to customize balance sheet, cash flow statements, and P&L for every section of the business. Also, the financial team can educate the rest of the department about financial performance. With the help of the analytics tool, the team can develop effective financial and strategic plans and determine areas of improvement.
- BI for inventory and operations:
A Business Intelligence system is important for managing warehouse activity and inventory. Streamlining inventory management involves a long process that aids in avoiding losses and cutting expenses. It offers the ability to determine the sales history and existing stock in your business. It aids the inventory manager to accomplish appropriate stock levels. When purchase managers are completely aware of their stock movements, they can fill the warehouse with appropriate products to cater to customer needs without any chance of overstocking. By eliminating the overstocking issue, the capital can be freed to utilize elsewhere and the chances of dead or unsold stock are avoided.
As the Business Intelligence system is used by all the departments in the organization, companies are executing the adoption in a planned manner. Do you wish to trial a professional Business Intelligence software for free? Call Zed Axis and book for a free trial.