Bad Business Decisions Can Cost More Than a Bad Hair Style
One of my favorite commercials is for Prego Italian sauce – the one where a woman shopping for groceries participates in a blind taste test and selects Prego over the spaghetti sauce she’s been buying her entire life. Afterwards, she wonders what other bad decisions she’s made over the years — like her Pat Benatar hair style in the 80s.
When it comes to spaghetti sauce — or bad hairstyles — we usually learn from our bad decisions and move on. When it comes to business, one bad choice can have a huge impact on revenues, productivity and even your reputation.
Make better decisions with fast access to reliable business data
Being able to find the right data at the right time — and understand what it means to your business — can help you make smarter decisions and run your business better than ever before.
The right data and analysis can help you determine which products, markets and channels provide the best opportunities for growth, reduce operational complexity, and streamline processes. And this insight can help you improve revenues, margins and liquidity management.
To optimize decision making, companies should look for analytics software that can help them:
- Solve problems and capitalize on opportunities with increased visibility into trends and variances, faster analysis, and accurate reporting
- Put the power in business users’ hands with self-service functions for running reports, queries and analysis
- Optimize sales and procurement with real-time, accurate insights into the supply chain and self-service functions for managing accounts receivables
As reported in a solution brief from SAP, companies are choosing software that allows them to:
- Reduce deployment time and costs with preconfigured data, pretested data, metadata and security integration functionality
- Realize a fast ROI with intuitive and interactive interfaces that simplify the user experience, increase user adoption and satisfaction, and reduce training and support costs
Turn your data into a competitive advantage
Today, many companies are realizing that making good decisions requires instant access to real-time, accurate data and analysis. With the right analytics solutions, you can empower your business users to make smarter, faster decisions that can improve your revenue and reputation — and prevent bad business decisions that will one day have you asking “What was I thinking?”
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Good insights, Michelle! Are you seeing any organizations that aren't adopting real-time analytics when they should be? If so, what's the hold up?