As a nation we monitor everything. We are constantly recording everything we do from tracking our spending to even our eating habits. The way we do this has rapidly changed, from writing down our expenses and meals in a notepad to now using online banking and adding up our food intake in one of the abundant apps on offer.
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Just like the way we track our personal lives has changed, the way businesses analyse their key information has been revolutionised too. Those businesses that adapt and make the most of all the data at their disposal will inevitably reap the benefits.
The internal business benefits of utilising analytics
Analytics were one of the fastest growing technology trends last year and will continue to grow in 2016 as businesses recognise the value on their bottom lines.
to be as efficient and effective as possible a business needs to review its successes and pitfalls
We all know to be as efficient and effective as possible a business needs to review its successes and pitfalls. Analysing the behaviour of individuals, teams and the company as a whole is critical to ensuring resources are appropriately distributed, praise is given and help is provided where necessary.
To make the most informed decision about their businesses every team manager needs access to a dashboard that displays all the key information in real time. CIOs and CEOs are best placed to track the trends in data that can be used to make the wider business more efficient and productive. 8×8’s own analytics suite helps businesses of all sizes make faster decisions, well informed decisions based on critical information about a company’s performance.
How analytics can improve customer relations
Analytics is not only about understanding your own business, but also about how your customers perceive your service. Take how calls are handled as an example, which is an integral part of customer service. Missing calls, or calls being diverted to the wrong extension can cause confusion, anger and in some cases loss of business.
When an integrated analytics suite is in place, team members can see these missed calls and return them, saving possible financial loss and helping to resolve queries quickly once answered. But it’s not just how quickly calls are being dealt with, team capacity needs to be taken into account so callers are not left waiting to speak to an operative. Analytics allows businesses to pinpoint certain times when call volumes are likely to surge. Once these trends have been identified, it is much easier to accurately plan expected capacity needs and ultimately keep customers happy.
The big pictureÂ
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Analytics are key for companies to consolidate business performance and improve productivity. Whether you’re a CIO or a team leader, using analytics across your business will help you generate powerful insights so that you can make fact-based decisions that will improve your business costs and efficiencies.
Our daily world is converging into a sea of bright colours, graphs and charts—everywhere from our financial statements, phone bills, data usage, water consumption, utilities and more. Everything today is summed up in a dashboard. If we’re used to using these charts in our everyday lives then it makes sense to transfer this insight to the business world too.
there’s nothing better than a highly informative dashboard that makes us look and act more intelligent
After all, there’s nothing better than a highly informative dashboard that streamlines data, points us in the right direction, and makes us look and act more intelligent so we can add real value.