This is the fourth post in our five-part series. We’ve previously looked at how dashboards can provide easy information access to your team members based on their specific roles, how self-service business intelligence (BI) and reporting can lighten the load on IT resources, and how mobile BI impacts users and IT.
Today, we’ll focus our attention on the impact of Big Data on SMBs.
Big Data is a term that can be a bit daunting if your business does not have the appropriate tools to interpret it. Your business generates enormous amounts of data and without being able to make sense of it all, Big Data is simply a buzzword, represented by lots of ones and zeroes. Having the right analytics tools can help your business organize Big Data into manageable chunks of information that will be the base of your strategic planning.
MS Dynamics NAV is based on the Microsoft stack (including SQL Server, Office, and SharePoint), which provides every user with the toolset to easily analyze and manage great amounts of data. Such toolset allows your employees to present you with detailed information on your financial history (providing you with insight as to how your company has developed throughout the years), sales figures (do you need change of tactics?), cost structures, customer information and much more business data that can help you get a real picture about the current state of your business.
It may seem somewhat complex but having advanced analytics tools in your business’s arsenal can, for example, match your inventory price levels against the prices of your competitors (by using historical data with Bing’s maps and social search information). Such analysis can help you plan in a more profitable way. You also have access to valuable information such as who your most profitable clients are, which in turn will help you build a better cross-sell and up-sell strategy that will make both you and your client happy.
Next time, we’ll take a closer look at what “the cloud” is and how it relates to business intelligence.
We hope you found our penultimate post of this series helpful!
NavTech Group 