5 Ways to Turn Business Data into Business Insight: Better, Not Bigger Dashboards (Part 1)

In this five-part blog series we are going to examine how MS Dynamics NAV can help you turn business data into a powerful money-making and time-saving tool that could only help your business develop more quickly. We hope you enjoy our little project. Comments are welcome! 

When you’re running a business that’s growing, it can sometimes be hard to have a complete view of your financial picture and overall performance. As you grow and add customers, suppliers and product lines, you need access to the information that matters most to your business. And every member of your team needs an accurate, timely look at what’s most important for their unique role.

In this five-part series, we’ll dive into the principles that will ensure both you and your team are armed with the information you need to manage and grow a better business.

Better, Not Bigger, Dashboards. 

Running a successful business depends on the ability to gain insight from business data and present information in a meaningful way. To be successful, your people need to transform data into actionable insight—no matter where they are located in the organization. Microsoft Dynamics NAV helps them make informed decisions as a natural part of their everyday work experience by making the tools on their desktop even more effective. Here are some examples:

• Role Based Reporting: Monitor current activity and compare it to historical performance and growth targets, giving your people access to specific reports related to their task or role.

• Easy Access to Charts and KPIs: View business performance at a glance and drill into more detail when trends are spotted and you need additional information.

• Ad-hoc Query and Analysis: Robust analysis capabilities, especially with a familiar tool like MS Office Excel, enable your team do ad-hoc queries on the fly without needing help from the IT guys. They can compare plans to actuals, analyze that information, make the necessary adjustments, and then take action, based on detailed information.

With business intelligence capabilities in Microsoft Dynamics NAV, you and your team can also be notified whenever key thresholds are hit, either through emails in your inbox or messages on your homepage. For example, you can establish the parameters that make the most sense for your business and get alerts when sales drop below expectations, inventory levels rise, or cash flow is a potential concern.  

In conclusion, what we are trying to say is that when you have the right insight and can take quick action, you can make the types of decisions that save and make real money.

Next time, we’ll discuss how your team can take BI and reporting into their own hands without relying on IT.