Informed Decision-Making is Paramount Now
Undeniably, COVID-19 has rattled the global economy, and every business around the globe is impacted. There is an unparalleled amount of workforce around the world that is currently working remotely. That being said, it is has added a new layer of complexity that the majority of the organizations never encountered before.
It is now more difficult than ever for an organization to effectively manage and monitor productivity, employee performance, organizational efficiency, and business productivity. There should be no doubt in anyone’s mind that compromised productivity, lack of insight, and diminished controls will have a direct effect on any organization’s bottom line.
In times like these, the insurmountable value business intelligence and analytics provide can help an organization prolong its survival and even manage to scale its profitability when the economy stabilizes again. It is almost guaranteed that if an organization becomes more efficient and proficient in tough economic times, it is bound to have a more stable financial future, lucrative operation, and higher performance in more stable and calm economic environments.
Short-term solutions may be as simple as out-of-the-box BI
Some large organizations indeed spend a significant amount of money to implement a state of the art BI infrastructure, but that is not the only way. It is essential to understand that data and analytics are incredibly scalable. Not every organization has to spend hundreds of thousands or millions of dollars upfront to implement an effective BI solution. Any organization is capable of implementing a useful BI solution without breaking their bank and at any point in time.