As Australian businesses pivot towards distributed digital teams, the key to making it work lies in data-driven decisions. Although useful, the range of technology and skills available makes choosing the right ones for the job can be difficult.
Technology drives our ability to take an accurate overview of the business, the market, and the industry. As business advisers work to streamline processes across an entire organisation, this overview is critical in guiding the right business decisions.
The best tech for business advisers depends on the business goals, but many fit into the following categories:
Data visualisation tools
Data visualisation tools like Tableau, Power BI, and Google Data Studio help business advisers transform raw data into meaningful information. To do this effectively, you must be able to use the tools and interpret the output – known as data storytelling.
By transforming (sometimes huge!) datasets into graphs and charts, you can provide actionable insights based on business performance trends and market patterns.
Business intelligence software
Business intelligence software like SAP BusinessObjects, QlikView, and Cognos enables business advisers to collect, analyse, and report on data from multiple sources at once. By comparing your operations with competitors, you can determine which actions predict success.
Using this information, advisers can show everyone across the business exactly where they need to make certain changes. Business intelligence collects evidence and determines a plan of action into how to improve performance.
Analytics platforms
Analytics platforms like Google Analytics, Adobe Analytics, and Mixpanel can help business advisers identify patterns and trends in large amounts of consumer data. These make it easier to see where your traffic is coming from, and who your current customers are.
Working with marketing teams, business advisors can use analytics platforms to track content performance and measure campaign goals.
Customer relationship management (CRM)
Customer relationship management (CRM) software like Hubspot, Salesforce, SAP, and Netsuite, is essential for managing your clients and their data. A CRM allows you to keep track of client interactions, sales, and marketing efforts.
Your CRM should plug into all other reporting software, so that business and customer analytics can be analysed simultaneously.
Automated reporting tools
Automated reporting tools like Domo, Zoho Analytics, and ReportGarden help business advisers save time by automating the report generation process. While we used Excel to create reports in the past, technology gives us the chance to make them more useful and accurate.
Some tools also allow you to create dynamic reports, which your advisees can interact with. With this feature, you can create one report that can be manipulated according to who it’s being presented to. As business advisers frequently present the same statistics to multiple teams, this is a huge time saver.
Reporting and Decision-Making for Business Advisers
The range of technology available today makes business advisory a more accurate and fulfilling role than ever before. Not only is it easier to provide useful insights, but businesses benefit from a varied overview of the digital landscape.
Partnering with a business advisory provider, such as Saab, allows organisations to streamline decision-making and reporting, freeing up precious time. Get in touch to find out if business advisory is right for you.