Know which products were best sellers and which costumers bought them. Know which the main costumers are or what region buys more a specific product. Understand it all quickly can be essential to direct company strategies. These data are certainly present on any company’s ERP, but how is it possible to access these informations, crossing data and making comparisons in a fast way?
With the support of Business Intelligence features, entrepreneurs and managers can direct the next steps, obtaining better results with less resources waste. Through the analysis that a BI software provides, users can know who are the main costumers that bill over than 60% e.g. of sales. For these costumers, sales strategies can be directed, increasing discounts or even doing promotions of the products purchased by them. It is also possible to investigate why a costumer started to buy less than before, and then you have the opportunity to investigate this: was he underserved? Is the price high? Is there an impactant influence of a competitor ? With the informations that BI provides, it takes easier to manage, seeing opportunities and risks.
BI brings intelligence to business, providing decision support, competitive advantage against competitors and improves performance. But it is necessary to emphasize that the BI essence is to provide measure and summarized business analysis, accurate and relevant information because there is no sense in reproducing the data that an ERP could supply. The intelligence is also in filtering, in grouping company data and in presenting important information to managers and entrepreneurs for a fast decision making.
With such information on hand, the company’s own marketing, that uses BI, can be improved, and may direct the campaign by raising the level of return. At the same time, efficiency reduces costs of disclosure and tends to increase customer loyalty.