Your company has access to much more information than it did five years ago. This is true whether your business is in a high-tech industry with multiple locations, or you’re in a traditional industry focused on a small number of larger local customers. Due to the amount of data that is being collected and aggregated, you have access to more information than ever about your customers, suppliers, competitors and employees.
Is your company making the best use of this data? Gartner’s Predicts 2017 report details the three technology movements in businesses right now. The first is to digitize the data. Information like customer buying habits and supplier cost patterns are gathered and placed in a centralized location where they can be compared against each other.
Once this is completed, the data is made programmable and smart – this allows conclusions to be drawn about the data without hours and hours of manual analysis and reporting. By digitizing the data, programming basic analysis and delivering the results you need, you can increase your margins with lower costs and higher sales. You can also improve customer satisfaction by being better prepared to deliver goods and services, as you can predict demand for them before you ever receive a customer call.
Five years ago, this type of business planning technology was reserved for major corporations like Exxon and Walmart. Increasingly, however, tools allowing this insight are being deployed at small- and mid-size businesses, further increasing the competitive threat for companies not doing this type of analysis. If your company hasn’t asked what readily available data could improve results if it was gathered and analyzed, 2017 is a great time to do it!
To learn more about how WingSwept can help your company use technology to earn better results, call us at 919.779.0954 or contact us online.