itechfy
No Result
View All Result
  • Marketing
  • Tech
  • Business
  • Web Design
  • Health
  • More…
    • Automotive
    • Career
    • Economy
    • Education
    • Entertainment
    • Environment
    • Family
    • Finance
    • Fitness
    • Food
    • General
    • Home
    • Legal
    • Lifestyle
    • Music
    • Pets
    • Photography
    • Real Estate
    • Shopping
    • Travel
Contact us
itechfy
  • Marketing
  • Tech
  • Business
  • Web Design
  • Health
  • More…
    • Automotive
    • Career
    • Economy
    • Education
    • Entertainment
    • Environment
    • Family
    • Finance
    • Fitness
    • Food
    • General
    • Home
    • Legal
    • Lifestyle
    • Music
    • Pets
    • Photography
    • Real Estate
    • Shopping
    • Travel
Contact us
itechfy
No Result
View All Result

How to Make Data-Driven Decisions for Business Success

How to Make Data-Driven Decisions for Business Success
Share on FacebookShare on Twitter

IBM Planning Analytics

Modern businesses thrive on facts and not guesswork. Up to 98% of executives believe that using data in the analysis is essential for business success. As a result, it’s vital to exploit your business data and make the most of it.

Analyzing business data allows you to find patterns, inferences, and insights that can be helpful in making decisions. This can help you improve your processes, cut costs, boost your team’s productivity, and identify performance gaps.

Regardless of your business, data analysis is a powerful tool for business growth, and here is how you can make data-driven decisions.

Find Your Data Sources

Businesses have many systems that collect data, from CRM to communication tools. Lack of connectivity results in a disparate operation, making your data unhelpful. Instead, you need to centralize your data, and tools like Microsoft’s Power BI can help with that.

Using a universal reporting tool to gather data from external sources will simplify the process and provide a single point of reference for all your organization’s operations. Plus, it improves access to disconnected data.

Organize Your Data

Organized data is critical to seamless visualization, making it easy to derive actionable insights. In this case, you can leverage dashboards, and there are many tools you can use, including Excel, Microsoft Power BI, Good Data, and Tableau Public.

A good tool offers a customizable interface, which allows you to present and visualize that in a way that’s easy to read. You can personalize the dashboard to display data that are most useful to your goals, whether strategic, operational, or tactical.

Conduct Data Analysis

Once you have organized your data, you’ll need to analyze it to discover the most helpful information, draw conclusions, and make decisions. Your analysis depends on your goals, and you should analyze the data alongside your survey results, case studies, testimonials, and other customer materials.

If you’re analyzing your financial data, IBM Analytics solutions can be quite helpful in making the most of your data. This is vital to improving your financial reporting, business analytics, quarterly planning, and performance management.

More importantly, data analysis can help with budget and forecasting. You can quickly implement critical decisions and streamline your workflows when you have better insights into your processes and business performance.

Thrive with Data

Today, businesses collected a lot of data, yet most don’t use it well. In most cases, they store disparate systems, limiting the ability to analyze the data. Instead, businesses need to take advantage of data analytical tools to use data in decision-making.

Bear in mind that the ability to analyze business data is a differentiating factor in today’s business landscape. Traditional tools like Excel do not cut it, and they tend to cause a disconnection in your processes. As such, you need a solution that consolidates your data sources and makes it easy to analyze your data for impactful insights

Related Posts

Business

How to Build Credit Score in South Africa: Essential Tips for a Strong Financial Future

Business

How to Improve Energy Efficiency at Home and Cut Bills

Business

Secure Workspace Solutions

Tech

Organic Fresh Air Delivers Clean, Safe, and Energy-Efficient Homes with Expert Air Duct Cleaning, Dryer Vent Cleaning, Chimney Sweep, and Attic Insulation Services

Fort Worth, TX  – In a time when indoor air quality and home energy efficiency have never been more important, Organic Fresh...

Read more

5 Best Charging Stations for Your Apple Ecosystem

How to Build Credit Score in South Africa: Essential Tips for a Strong Financial Future

The Best AI Automation Agencies in the UK (2025)

The Best AI Automation Agencies in the UK (2025)

What I Learned from Selling My RV Online (So You Don’t Make the Same Mistakes)

What I Learned from Selling My RV Online (So You Don’t Make the Same Mistakes)

Are you looking for ways to earn money on Cashout Fridays
game

Are you looking for ways to earn money on Cashout Fridays

Discovering the World of Online Gaming Platforms: Featuring Oddigo
General

Discovering the World of Online Gaming Platforms: Featuring Oddigo

How to Make Data-Driven Decisions for Business Success
Business

How to Make Data-Driven Decisions for Business Success

Samsung’s Marketing Strategy
Marketing

6 Lessons to Learn from Samsung’s Marketing Strategy

Auto-Run Python Program on Raspberry Pi Startup
Tech

Auto-Run Python Program on Raspberry Pi Startup

No Result
View All Result
  • Automotive
  • Business
  • Career
  • Economy
  • Education
  • Entertainment
  • Environment
  • Family
  • Finance
  • Fitness
  • Food
  • General
  • Health
  • Home
  • Legal
  • Lifestyle
  • Marketing
  • Music
  • Pets
  • Photography
  • Real Estate
  • Shopping
  • Tech
  • Travel
  • Web Design