The Importance of Business Intelligence Software and Why It’s Integral for Business Success

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StrategyDriven Tactical Execution Article | The Importance of Business Intelligence Software and Why It’s Integral for Business SuccessIn the digital-first, customer-centric world we live in today, managers and business owners must deal with information overload. That is the reason why they are always looking for ways to derive greater intelligence, control, and understanding from their data. Adopting a business intelligence (BI) strategy is one of the best ways to deal with this problem, but most organizations have been slow to integrate it within their business systems. This is mainly down to a lack of knowledge, as businesses still don’t know, where to start, what it involves, and how long it’ll take for them to see any benefits.

There’s no denying that business intelligence software is crucial in helping organizations make reliable and timely decisions about their operations. It ensures that the business can access reliable information and make insightful decisions by reacting in real time. Business intelligence software has played a major role in helping organizations meet their challenges like narrowing margins, high customer expectations, and global competition.

Most businesses are still using traditional methods, which makes it harder for them to make decisions, as the information is stored in separate applications and databases. How quickly and accurately a company responds in this technology-driven competitive market is the main difference between success and failure. Business intelligence technologies have several functions that improve their performance, and one of them is reporting. It plays a key role in business intelligence, as it allows the decision makers of the enterprise to support their work. The discovery of essential data patterns (analytics) is also done through reporting, which is another key role of business intelligence.

Some of the standard functions of business intelligence technologies include predictive and prescriptive analysis, business performance management, text mining, benchmarking, and online analytic processing. Business intelligence refers to the application, tools, and good practices that are used to access and analyze data to optimize or improve the performance of the business. It converts raw data into relevant information that enables tactical and strategic insights to make effective decisions.

Business intelligence software is a technological process, which collects and processes data to attain actionable information. It allows users to acquire information quickly and transfer them to the proper personnel to make the right decision. Business intelligence tools have been around for a long time, but it was only accessible to large enterprise, who had the infrastructure and resources to implement this technology.

However, thanks to the advancement of technology, even small enterprises now can access business intelligence software through cloud computing.

The Main Benefits of Business Intelligence Software

Any organization that wants to remain relevant in the competitive market of today must adapt fast and real-time integration of business intelligence software. Most organizations today have changed their modes of operation so they can adapt to modern business intelligence technologies. However, there are still plenty of organizations that are under the assumption that business intelligence software isn’t user-friendly and is complicated.

That’s a misconception about business intelligence software since it is user-friendly and can be adopted quickly by an organization, while it ensures maximum profitability by smoothing the decision-making process. Businesses that have adopted this technology in their systems are thriving in all the challenges they are facing at any stage of their projects. Business intelligence software also allows small and medium-sized enterprises to reduce their cost of operations by identifying areas that have higher costs of expenses and finding measures to reduce them.

The best thing about business intelligence software is that it allows businesses to have agile operations and is often the difference between operating on profits or losses. To give you a better idea, we are going to discuss some of the main benefits offered by business intelligence software:

1. Better Business Decisions

When a business adopts business intelligence software, its management can easily identify all the financial and customer data, production data, current data, and business aspects of the organization. This information will allow the management to synthesize and analyze the products and investment reports, which will help them make better business decisions that benefit the organization.

2. Enables Faster and Accurate Planning, Reporting, and Analysis

Business intelligence software offers real-time information, which helps it provide accurate reporting solutions as it can connect with an extensive range of data. The software can plan and analyze informed business solutions, which reduce potential risks and allow a business to achieve faster growth. Not only that, software solutions like Conexiom can import unstructured data from multiple sources into your system of records streamlining your workflow and improving efficiency. 

3. Enhanced Speed of Decision-Making

Business intelligence software not only helps businesses make better decisions but also helps increase their decision-making speed as well. Without business intelligence software, an organization will be spending a lot of time implementing decisions, since they’ll need to cover business aspects one by one before making any decision. This is a time-consuming process, and with business intelligence software you cut down on the speed of decision-making.

4. Increased Business User Satisfaction

There is increased user satisfaction for the software because business intelligence offers better decision-making, reporting, and accurate analysis. It helps the business maximize its limited resources by using cost-effective solutions that allow business growth and enhance user satisfaction.

5. Customer Behavior Insights

Business intelligence software holds the key for identifying customer behavior patterns, as it determines customer responses and helps the business achieve market profitability by helping it retain customers and attract new clients.

6. Accurate Decision-Making

The best part about the business intelligence software is that it not only allows real-time decision-making but also enables accurate decisions to be made that will benefit the business. For instance, if your competitor decides to reduce the prices of their products, you’ll need to come up with a counter price for your product that is lower or similar. This decision will take some time to be implemented, as you’ll need to determine the impact of your profits after the price reduction. However, when you’re using business intelligence software, you get rapid and informed decisions that allow your business to stay on top of its game.

7. Increased Collaboration between Business & IT Units

Business intelligence software and systems have enabled growth collaborations between IT and business units. Any organization that aims to grow its operation must ensure that its business and IT units are working together, and this can be achieved easily with business intelligence software.

8. Offer Personalized Services

Business intelligence software is user-friendly and comes with a feature that personalizes information or data by making it easier to use and understand. The feature also ensures smoother collaboration between users in the organization and ensures a smoother transfer of data.

9. Track KPIs with Notifications and Alerts

The business intelligence software tracks the KPI by evaluating the current status and metric value against a target using specific measures that will send alerts to the user. These notifications allow users to come up with the right solutions or measures.

10. Identify Opportunities for Revenue

Revenue growth is essential to all organizations, and it is one of the main purposes of business intelligence software. Finding new revenue opportunities opens new doors for business and allows it to thrive and transform its operations. The software analyzes marketing strategies and campaigns to create important reports and insights on the best sources of high returns on investment.

11. Reduced Cost

Enterprises that struggle to sort out their financial statements are going to struggle in the long-run, and that is where business intelligence software plays such a major role. It helps find areas where the organization can cut down its costs, and the software helps to collect raw data on areas where there are high expenses and provides solutions to bring them down.

12. Better Operational Efficiency

Every business is striving to improve its operations, as it helps them take the next step in their development. However, to do that, businesses must monitor and measure their performance, and business intelligence software helps businesses come up with different activities that help drive business success. The software covers highly used metrics like productivity, performance, and employee satisfaction to ensure better operations in the organization.

13. Higher Quality Data

Data comes in all shapes and sizes, and some can be more complicated to understand and operate, which makes it difficult for organizations to take advantage of data-driven insights. There is a data visualization tool in business intelligence software, which allows for easier recognition of data. This feature is incredibly useful since it allows data to be converted into a better method or quality, which can be easily accessed.

14. Create a Data Culture in the Organization

A lot of organizations are guilty of data clustering, which leads to data manipulation and data loss. Business intelligence software is extremely useful when it comes to handling the data of a business since it allows easy collaboration and communications among members whenever data is updated. Users can also track data and its changes since notifications are sent to everyone.

15. Self-Service Culture

One of the biggest things about business intelligence software is that it promotes a culture of self-service in the business. Users can easily access data and easily manage it even if they aren’t familiar with the statistical analytics. Adding, creating, and manipulating data is easy, and this ensures cooperation between the different departments in the business.

How to Successfully Manage Your Business’s Fleet

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StrategyDriven Tactical Execution Article |Fleet Management|How to Successfully Manage Your Business's FleetIf your business has a fleet of vehicles, it’s vital to manage them properly. These are valuable resources and your staff probably rely on them on a day to day basis. Your fleet of vehicles has to be cared for properly and monitored to ensure they’re being used in the right way. If you’re currently struggling to manage your fleet effectively and efficiently, read on and learn about how you can manage it successfully.

Set Rules and Policies for Staff to Follow

The staff member who are going to be using the vehicles on a day to day basis need to know how to use them and how not to. But that’ll only be the case if there’s a specific set of rules and policies in place for them to follow. Be clear about what these are so everyone knows what’s expected of that. The policies should outline what the vehicles are for and which restrictions apply to drivers.

Search for the Best Fleet Insurance

It’s vital that you have fleet insurance in place before you start using these vehicles. Taking uninsured cars on the road is a major problem and it’s something that could land your business in a lot of hot water. As the owner of the business and its vehicles, it’s up to you to ensure the insurance is in place. No one else is obligated to do this for you.

Find Mechanics You Trust

It’s vital to have a team of mechanics working for your business who you believe you can trust. These are the people who your business will turn to when something goes wrong with a vehicle in your fleet. You want to know that they’ll be there to professional assist you in a fast and efficient way. It’s worth doing some research and deciding which ones you want to put your trust in though.

Use New Analysis Tools

There are tools that allow you to gain insight into how your vehicles are being used. You can find ways to increase productivity by using these tools, such as fleet telematics. You’ll learn a lot and find new ways in which you can improve things going forward based on the findings of the analytics tools. The more insight you can get into how your businesses is using its vehicles, the better it is for you.

Ensure the Purpose of the Fleet Remains Clear

Finally, you should make it clear what your vehicles are far and what you want them to achieve. This applies on a functional level, of course, but it’s also more than that. You need to also think about the extra benefits your fleet can bring, such as raising brand awareness in the local area.

Managing a fleet of vehicles is an important task, and if your business relies on its fleet, it’s vital to ensure it’s managed properly. If it’s not, your business could be severely limited and damaged in its day to day operations. Keep in mind the advice listed above and demand the highest standards.

Singapore’s Employment Pass – How Difficult It Is to Get One

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StrategyDriven Tactical Execution Article |Work Visa|Singapore's Employment Pass - How Difficult It Is to Get OneAre you planning to work in Singapore? If so, you will need an employment pass that corresponds to your skills and qualifications or the job you are interested in. Although Singapore has tried to make it a straightforward process, some people still find it a hassle. So, it is good to know how difficult it is to get an employment pass.

The truth is that the Ministry of Manpower in Singapore does not approve all of the applications. So, it is up to you and your agent to make a compelling application. Usually, the credibility of the hiring company and the individual will play a significant role.

Important Things During the Application

The MOM will factor many things before they approve your application. They may look simple, but they have a considerable amount of weight in making your endeavors a success.
They primarily look at the following:

  • Work skills and experience.
  • Personal details: citizenship, age, education, and current salary.
  • Whether or not it is possible to get local manpower under the same category.
  • The reputation of the company that is willing to hire you.
  • Your criminal records.

There are many other details that must be filled out in the application form. A reputable migration agent like Visa Express Singapore should help you fill out the application form honestly. What they should do is ensure that you qualify to avoid disappointments when feedback is given. If all is well, there is no need to get worried as the MOM will make a fair consideration.

Things That Will Make Your Application Get Rejected

There are many things that can make the application get rejected. Some may not be within your control. If the MOM has already processed enough EP passes, they might reject any other applications that are put on their table. This is a regulation that allows the locals to get a fair share of the jobs in Singapore. However, opening for foreigners are almost always there since more businesses and companies keep on opening. Also, there is a need for more labor that must be sourced from abroad.

Making an application without the right qualifications may lead to the rejection of the application. If the agent is proactive, they should help you to downgrade to the S pass if that is what you are eligible for. The good news is that you can grow your career by going back to school in Singapore and later upgrading to the EP.

How Agents Help in the Success of EP

From the beginning, it is highly recommended to use agents with enough experience in dealing with work visas in Singapore. You can easily find one online if you check well. Their job is to assess the possibility of succeeding in this application. It is crucial that they go through the form before they submit it on your behalf. They also check whether or not all of the supportive documents are attached before sending it.

If there is a rejection, they will go through it to ascertain what the problem was. In some cases, they can lodge a complaint with the MOM, especially if they feel that you should have qualified.

4 Tips for an Effective Enterprise Mobility Strategy

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The nature of the workforce is rapidly changing and this new wave of employees is not only getting accustomed to a mobile and agile workforce but are starting to actually expect it. And with the advent of the gig economy, being able to organize your mobile and increasingly global workforce is a priority.

Business leaders also have to change their leadership style in order to still be able to drive a sense of connection and community within their organization. There are also significant security issues that come from allowing your workforce to have uninterrupted data access from anywhere and from any device. Let’s take a look at the challenges workforce mobility presents and a few tips on how to implement an effective enterprise mobility strategy.

The Challenges

One of the biggest challenges of the mobile workforce is being able to maintain cohesive teamwork and a real connection between team members. More freedom and autonomy has a tendency to drive team members apart unless you take concrete steps to still maintain a sense of community. Co-location facilitates collaborative teamwork and innovation, so companies have to find a way to balance the needs of their employees with these core fundamentals.

A mobile workforce is inevitable and will become essential if you want to attract and keep employees. Not embracing enterprise mobility will also inhibit you from tapping into a global talent pool. Globalization equals dispersion and addressing these challenges should be central for any business leader today.

Let’s take innovation, for instance. We’ve always been told that teams need to work in close collaboration and take advantage of organic opportunistic interactions to drive creation. We’ve also been told that silos can stifle innovation and should be avoided at all costs. But is there are a way to still drive innovation with an increasingly decentralized lifeforce?

The answer is yes. By implementing a set of strategies and using the proper set of tools, it’s possible to create a virtual collaborative work environment that will work just as well as the traditional whiteboard. With the advent of new apps and agile frameworks, mobile collaboration is becoming easier by the minute. Let’s take a look at what it will take for you to organize your mobile workforce better while driving innovation, cohesiveness, and active collaboration.

Change your Communication Style

In order for a mobile work environment to work, you have to change your approach to communication. You have to let go of the “from the mountaintop” communication style and make sure that top to bottom communication becomes an integral part of any action and is always considered. You should start adopting a “snacking” communication style where you deliver steady, easy to digest bite-sized information with a steady cadence. This style works much better to keep your employees engaged and updated.

You’ll also have to start adopting new communication tools as well. Business leaders need to not only get accustomed to advanced communication tools like video, social media, and blogging, but they also have to enable their teams to use these same tools so that they can work and collaborate seamlessly wherever they are.

However, you have to still remember that personal interactions aren’t completely obsolete and are still very much needed. And even with globalization and dispersion, they can still be made possible.

For instance, MobileIron employs over 900 people from all over the world and operates from more than 100 locations. Their employees interact using Slack and other tools, which allows them to get a sense of proximity. But their Indian engineering staff still meet once a year in the Bay Area to interact and build connections.

They also make sure that their marketing teams on the field meet at least once per quarter for interactive strategy and planning sessions.

It is up to you as a leader to identify which teams would benefit from regular meetings in order to work better when they’re separate.

Listen to your Staff

One big mistake is assuming that the tools you like will also automatically resonate with your staff. While you might think that the tool you’re using is state of the art, it might be seen as completely outdated by your younger or more tech-savvy workforce, which could cause frustration among them. Thankfully, all of this can be avoided if you simply listen to them. Find out what tools they are using to fill in communication gaps and implement them. Do not try to shove old school solutions down their throat that might have been pushed on you by your current software vendor.

Streamline your Processes

With increasing dispersion, having clear and concise work processes becomes more important than ever. Don’t assume that old models will easily migrate to completely new work styles. They won’t. New working styles means new processes and you should start looking at a few Lean approaches that will provide you with a centralized management system with built-in collaboration and communication tools.

Don’t be Afraid to Ask for Help

Don’t be hesitant to ask your peers about the challenges they face and how they changed their mindset and approach. Ask about the tools they’ve been using and how they’ve been working for them.

You should also consider working with an enterprise workforce mobility management team that will help you analyze pain points in your organization, conduct risk assessments, functional requirements, and come up with an enterprise mobility management strategy that will empower your employees, while allowing you to keep control over information, content, security and device management; both at the personal and corporate level.

And don’t forget to always keep your employees in the loop as well. They are sometimes better positioned to give you advice on which new tools could be beneficial for your organization or discuss issues they might be facing. You’ll then be able to use their feedback to implement new solutions and continually improve processes.

Conclusion

As a business leader, you cannot afford to be left behind and retreat to outdated legacy approaches. Leaders who are successful in the future are those who will see this as an opportunity, not a problem. Embracing the mobile workforce is no longer a choice, but a necessity.

3 Lessons All Small Healthcare Clinics Can Learn From Large Hospitals

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StrategyDriven Tactical Execution Article |Productivity|3 Lessons All Small Healthcare Clinics Can Learn From Large HospitalsWhen running a healthcare clinic, the chances are that you will focus primarily on running the best clinic you can run. You will read advice on marketing your services, improving productivity in your business, and similar guidance, all with a specific focus on the small clinic setting.

Of course, focusing on advice for clinics makes complete sense – but it is also worth thinking a little bigger, and considering the lessons you can learn from larger establishments. After all, if a large, monolithic hospital that provides services to thousands of patients every day is making a particular decision, or using a specific technology, it’s fair to assume they are doing so because it works. By implementing the same ideas into your clinic, you can enjoy the same benefits, and significantly improve the service you can provide to your customers. Here are three ideas that most larger hospitals will use, all of which could be hugely advantageous if incorporated into your smaller clinic setting…

Full focus on navigation

Hospitals are huge buildings, which means they have to focus on ensuring patients can comfortably navigate from one area to the next. While a smaller clinic is, of course, more modest in terms of the size, the same focus on navigation can be hugely beneficial. With good signposting and floor line systems, you can ensure your patients always know where they need to be without having to ask staff for directions; as a result, patients feel more at ease, and staff are free to focus on routine tasks.

Embrace tech advances

Large hospitals have to embrace tech advances across every aspect of their service; from ensuring they have a top-of-the-line appointment scheduling system to installing the best hospital pharmacy inventory management system currently available, hospitals know that they have to be at the cutting edge of innovation in order to provide for their large patient base. It’s therefore helpful if you bring the same willingness to embrace technology to your smaller clinic, continually seeking new solutions for every operational area of your business. It should then naturally follow that the more tech you can introduce, the more streamlined and efficient your clinic will be.

Expansive opening hours

Certain aspects of a hospital are available 24/7; the ER, for example. However, many hospitals now offer standard appointments with specialists outside of the usual daytime-Monday-to-Friday arrangement scheduling. If you are looking to expand your potential patient base, offering the same, wide-reaching approach to appointment times could be hugely beneficial. After all, if you only offer appointments during the day throughout the working week, patients who work the same schedule are less likely to be able to attend appointments.

It’s therefore worth experimenting with evening and Saturday appointments and then assessing the results; if the uptake is good, consider extending your opening hours further in order to better meet the scheduling requirements of your patients.

In conclusion

By incorporating the above, you can enjoy the advantages of a large-scale hospital in your smaller clinic setting – much to the benefit of your staff, your patients, and ultimately, the clinic’s overall success.