Why do you need real-time data?

Modern technology provides access to a vast amount of data. But wouldn’t it be as valuable if this data couldn’t be accessed from anywhere, anytime. But why is real-time data so important?

Firstly, by turning your data into business-critical reports – which can be scrutinised in an easy-to-read format with all the vital statistics and information transparent – you unlock a huge wealth of insights. And, when you use this intelligence to make informed business decisions, the results can be transformational.

On the other hand, business moves fast. So, if you are using data from a month (or even a day ago), it could already be out of date. But, with live data, rather than assumptions based on past events, systems working in real time can deliver insights on what is going on right now.

“Every businessperson knows that good data makes you smarter. Well, a truer statement might be that an accurate analysis of the right data can make a company smarter, but lack of any data can be fatal.”

John Jantsch

The main benefits of real-time data

You can use current data to:

  • Uncover trends and insights and become an early-adopter of these to drive business growth
  • Inform and support your broader business strategy and establish where can you create new revenue streams
  • Identify where is your business working well (for example, if a particular service is making you money and you should invest marketing resources into it)
  • Establish where faults and issues are occurring and stop them before it becomes a problem
  • Identify where are you losing money and put plans in place to remedy this ASAP
  • Find out the moment your competitors change strategy or lower their prices
  • Challenge accepted decision-making models and ideas
  • Detect fraud and cybercrime the moment an attack starts.

Crucially, without having this data as a basis to make judgements, mistakes are more likely to be made. And it can be almost impossible to adapt and keep up with the competition.

Data alone isn’t enough

CRM systems, asset performance tools, connected devices and cloud-based service management software are providing us with unprecedented levels of information. But it doesn’t matter how much intelligent, connected data you have in your organisation, if you don’t know how to turn it into something valuable.

As such, make sure you invest in software that allows you to:

  • Access reports from a mobile device; anywhere, anytime (cloud-based software and mobile devices will allow your people to retrieve the insights they need as and when they need them)
  • Easily connect to other systems
  • Access real-time, tailored, and accurate information, from multiple data sources, presented in easy to understand visual dashboards
  • Create dashboards which provide digestible insights as and when you need them
  • Compare month-month, year-year, etc., and see KPIs to help you track improvements.

Business intelligence software

Our software provides you with a plethora of reporting options, tailored to the needs of each user. For example, you can look at the real profit and margin information of each client, look at the value of planned maintenance vs reactive work, and establish the profitability of all your engineers.

We also provide the ability to filter and analyse a wide range of data quickly and easily. By presenting this information in an easy to understand format, you can examine trends and uncover insights that will help you to optimise the performance of each element of your operation.

With pie charts, bar graphs, heat maps and league tables, you can access your data in the format that best suits you. What’s more, by presenting your essential data in the most useful way, we help you to extract value from your reports.

So you can turn this information into actionable insights and boost profitability. Furthermore, with access from anywhere, your mobile workers have access to all the business intelligence they need when out on site.

Want to see how our cloud-enabled technology can make the most of your data and help to improve your business for one affordable monthly payment? 

Contact us today for an informal chat.