Business Analytics

The Covid-19 crisis is us learned that a new era has come, a new reality and an unpredictable future. Only highly digitalized companies will survive, which will be better prepared for the period ahead. Business Analytics gains additional weight in this regard. We recommend using the Power BI application.

Data is the basis of digital business, innovation and services that drive digital growth and employment. Large-scale data technologies, which have proven their development potential in the Internet environment, are the use of data-driven innovations or the use of cloud computing, the Internet of Things and mobile technologies. data-driven economy.

Digitization has great potential for growth, as it is estimated that digitally proactive companies can do business up to ten times better as similar companies that do not yet use digital technologies. Digitization of business processes can significantly improve the adaptability of business processes, increase efficiency, innovation and thus competitiveness in the new digital business and social environment.

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• Higher quality information for decision making
• Easier access to data
• Easier transfer of information within the company
• Better efficiency of business processes
• Use of data and other information that we have not monitored in the company so far
• Establish a balanced measurement of key business indicators:
  • Cost, revenue, quality, speed
  • Short-term and long-term goals
  • Financial and non-financial (operational, physical) business indicators
• Internal and external focus
• Risk management
• Needs of employees and business partners

A data-driven enterprise is a data-based organization that cultivates a culture of continuous use of data and business intelligence to make all business decisions. All departments and employees in the company thus have access to the necessary data, and the company’s leaders additionally actively encourage them to accept, research and study this data in their daily business activities and decision-making.

Get to know the true power of data and support the digitalisation of your business with data-driven decisions from the Power BI analytics platform, which offers many interactive visualization opportunities along with exceptional self-service analytics capabilities.

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Cost reduction

Microsoft is positioning itself as a leading provider of analytics and business intelligence platforms. According to the Gartner Magic Quadrant for Analytics and Business Intelligence Platforms 2020 edition, other players in the market simply could not keep up with Power BI .

To support the OLAP approach, it uses Microsoft’s SQL Server Analysis Services (SSAS), an online analytics process that allows you to design, create, and manage a multidimensional structure that contains data collected from other data sources and relational databases.

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Advantages of using Power BI:

• Power BI is built on the best BI products available on the market. I’m talking about SQL Server Analysis Services (SSAS) and Microsoft Excel
• Power BI is constantly evolving and upgrading its functionality using the latest technologies such as HTML 5.0, cloud computing, column databases and mobile smartphone applications
• Microsoft has opened a custom gallery for open source contributions that add value to the community
• The trend of self-service business intelligence points to Microsoft’s leading position in this space

Power BI is easy to use. Anyone with previous Excel experience: creating reports, charts, diagrams, etc. can easily switch to Power BI. Its highly intuitive Office interface makes it more user-friendly to the general public.

Return on investment (ROI) is important in all information technologies, and Power BI is no exception. It is a relentless display of “hard” numbers, which is especially important in the field of digital tools. In the eyes of the general public, their direct impact on business is not immediately recognized and obvious.

The economic environment is becoming increasingly relentless, so many companies are embarking on the path of digital business renewal by purchasing modern analytical and information tools.

That is why we at Lean Rešitve doo have decided to help you with this by presenting you in detail and revealing the facts about how business intelligence (BI) tools achieve extremely high ROI. With saved employee working hours, lower data management costs, reduced data security risk and the direct benefits of better real-time information decisions. Finally, we will show you your total costs in euros, which you lose with the traditional way of reporting.

Manual monitoring and reporting takes time; it takes a large number of hours and staff to obtain the necessary data and information from all internal sources.

This expense is often overlooked, but after CMS Wire employees spend 31% to 36% of their time manually searching for and aggregating information. Of this, as much as 44% of the time unsuccessfully searches for the information they need and in the end they do not find or are unable to obtain it.

More than a third of the staff’s time is spent manually collecting and reconciling data and preparing final reports and presentations at numerous meetings. All these hours could be spent by your employees on strategic initiatives, in-depth analyzes and forecasting possible scenarios for better and timely action. By digitizing business processes, you can save up to 2 days per week per employee in the field of data processing!

How often have you been to meetings where you discussed last week’s, month’s, quarter’s, even last year’s report? Almost all of us have encountered this before, it is important to recognize the appropriateness of business decisions we make based on old data. Po In Gartner’s words these decisions can cost us several million euros a year!

With Power BI, we can capture your data at any time interval your business needs. Data can be updated daily or even multiple times a day, depending on the availability of data sources. You can also refresh the data online for each time you open the report. This means that resources such as your internal sales data can be updated in real time.

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The BI tool allows your company to immediately notice input errors, process problems, or interruptions in the production process at the time they actually occur. Production companies also accumulate up to 800 hours of downtime per year. Only the cost of shutting down production lines can go up to a few thousand euros per minute!

Manual reporting is not secure. The main reason for this is mostly human error resulting from negligence or incompetence of employees. By using advanced business solutions, you can significantly reduce the risk of loss events resulting from human error or intentional misuse of data.

According to IBM , the average cost of a security breach in the U.S. is $ 8.19 million. Security Magazine reports that as many as 80% of leading information technology companies in the U.S. in 2019 expected critical data misuse or a successful cyber attack. This is definitely a good reason to do everything you can to improve the security of your data and reduce the chances of incurring high costs due to potential misuse.

Power BI was built to provide comprehensive and hermetic data protection, earning the highest level of security assurance from various BI tool providers.

Precisely because of the high level of data security, Power BI is used today by many national security agencies, financial institutions and healthcare providers, who use Power BI to process the most sensitive data and information.

Power BI is a simple and cost-effective way to get started, as it provides a secure architecture, data storage, and user authentication. With the built-in TLS protocol, it ensures secure transfer and use of data from various data sources. You can read more about this here .

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The cost of using Microsoft Power BI is $ 9.99 per user per month for the Professional package or $ 20.00 per month per user for the Premium package. Based on this data, you can quickly see that the return on investment is extremely high.

With savings in working hours, lower data management costs, the benefits of real-time business decisions and high data security, a return is more than guaranteed.

Considering the potential loss of revenue due to the negative effects of traditional data collection and reporting, which can also lead to the loss of existing or future customers, the benefits are undoubtedly in favor of the BI analytical platform.

With the Power BI analytical tool, we create quick access to automated measurement of indicators and their visual display.

With our help, in the company Lean Rešitve doo, in just five steps , we help with the introduction of comprehensive and automated measurement of key business indicators and their visual display in the form of interactive dashboards.

In this way, you gain more effective control over business and production processes (OEE) and savings in all phases of operation (Lean transformation).

Production is a good example of where a lot of data is collected, but if we don’t have control over it, it’s hard to see that the costs may be higher than they could be, or we just can’t see that we have high machine utilization and high emissions…

The greatest added value of business analytics (BI) is in the search for optimization and savings at all stages of the production process.

Introduce automated monitoring analysis of key performance indicators available to you at all times:

• machine capacity utilization (OEE)
• share and value of ejection
• share of congestion
• number and value of complaints
• productivity

Production is a good example of where a lot of data is collected, but if we don’t have control over it, it’s hard to see that the costs may be higher than they could be, or we just can’t see that we have high machine utilization and high emissions…

The greatest added value of business analytics (BI) is in the search for optimization and savings at all stages of the production process.

Introduce automated monitoring analysis of key performance indicators available to you at all times:

• machine capacity utilization (OEE)
• share and value of ejection
• share of congestion
• number and value of complaints
• productivity

Improve your OEE by regularly monitoring the quality, availability and performance of machinery and production lines.

Reduce the cost of complaints and eliminate their causes.

Reduce the cost of complaints and eliminate their causes.

Establish an overview of inventory, timing and quantity accuracy of suppliers or customers, and improve quality management tailored to the needs of your organization.

Reduce costs with the optimal amount of inventory for different types of materials, products and articles.

Monitor the quality and accuracy of suppliers and thus reduce costs and losses in the production process.

Establish comprehensive control over financial operations and improve business performance.

Monitor the profitability of your business, analyze the income statement and establish control over expenses, costs, receivables, liabilities…

Monitor your sales performance to respond successfully to market changes.

Data from CRM systems becomes an important part of the day-to-day monitoring of your sales team.