Is data driving the business decisions your clients make in their organisation? Are their decisions rooted in actual results and insights from performance, or are they just based on gut feel?
Businesses have traditionally relied on gut-feel alone to drive decision making. It’s not because organisations are unwilling to crunch the numbers to help decision making, but because tracking, organising, and analysing large volumes of business data has been simply unaffordable and too time-consuming to justify. So, the benefits of big data decision-making seemed only attainable by big business.
But that doesn’t need to be the case for your clients.
Today, organisations have just as much access as big business to make smarter, more informed, data-driven decisions. When organisations embrace big data, they can replace the traditional gut-feel approach by developing an educated understanding of their business, backed with statistical evidence.
But for your clients, implementing a data-driven approach can seem daunting.
In this blog, I’ve outlined the three most common challenges organisations face when trying to become more data driven – and how to overcome them.
Three common big data challenges for businesses:
1. Challenge One: Not knowing what to track
For most organisations, data is often under-utilised because most professional service providers simply don’t know what their clients can track, or what they should be tracking. Many organisations I speak with just limit themselves to Net Profit and Gross Profit figures, and if those numbers tell a good story, they see no need to dig further.
For your client to be a truly data-driven business, they need to think beyond tracking profit value and consider the other elements of their company that offer invaluable insights to future growth and productivity. Even if their business is seeing growth in revenue or profit, as the professional, you need to think about how much more it could be making if their business were tracking and analysing data more effectively.
With a world of data out there your clients simply need the tools to capture it, and the guidance on what to track. We offer just that, in the HARMONiQ Power of Big Data eBook, click here to download your copy.
2. Challenge Two: Lack the tools or the time to collect data
Often data goes uncaptured due to the lack of tools or time available to spend gathering it. Data in the form of excel spreadsheets or paper based capture is time-consuming and relies significantly on manual labour.
HARMONiQ is an integrated Enterprise Resource Planning (ERP) platform that captures data seamlessly from all departments, such as your client’s inventory, sales, business management, and accounting systems.
With the added ability to truly personalise the system to match the way your client wants their business to operate, it’s a software solution of its own class. To see how powerful Big Data can be for your clients, download the HARMONiQ Power of Big Data eBook.
3. Challenge Three: Inability to turn data into meaningful insights
In my experience, most clients only interrogate the data when they need an answer to a specific question, or something has gone wrong. But, ad hoc reporting of this nature is often limited and reactive. As the professional services provider, all the pressure is on you and the business leader as the key decision maker, and often the business contact won’t know anything is wrong until it has already happened.
Your client needs the in-depth insights that can help them identify trends and be proactive. By engaging with the power of Big Data in their business, it enables them to make educated decisions and manage their risks based on previous data. HARMONiQ provides visual dashboards with a control desk which will only show your client the information that they need to know to make decisions quickly, meaning they can rhythmically access meaningful data, accurately.
How can my client start leveraging Big Data?
Big Data for businesses opens a world of opportunities to take your clients to the next level by increasing efficiency and improving operation structures.
Download the HARMONiQ: Power of Big Data eBook today as your next step guide on assisting your client on how to be a data driven organisation. The eBook will help your client identify how Big Data can be utilised in their business to lift their performance.
If you would like to see HARMONiQ solutions in action and witness the power of Big Data for yourself, then click here to request a demo and I’ll be in touch shortly.
Alternatively, if you want to know more about the benefits of the HARMONiQ Channel Partner Program, download our Partner Information Pack to get the full overview of how we equip our Partners to better serve their clients – by walking them through how their clients could benefit from Big Data.
Drew Arthur is the Managing Director of Micronet Systems and is focused on working with accountants and professional services providers to help their clients tune their businesses by leveraging cutting-edge technology. If you want to help your clients gain further efficiencies within their business while boosting your own revenue, click here to see how HARMONiQ Business Tuning Software can make a difference to their business and your own, or get in touch.