It’s a common misconception that BI tools or dashboards are backwards-looking. By that, I mean that they show you where your business has been, with historical context. And, while that can be helpful to some degree, let’s focus on how BI can actually help your future success.
BI combined with AI delivers predictive insights
It’s important to know your historical performance, but only in context of where you are today. By using Artificial Intelligence (AI) and machine learning, the best BI tools (like Nowsight), scour your real-time data for information you can take immediate action on.
- Is your per-invoice profitability better or worse than pre-pandemic levels?
→ Your sales team can get a daily notification about how the prior day’s orders compare to profitability goals and trends.
- How are your promotional program attainment levels this month?
→ Your sales leader can know exactly how close you are to making the most of vendor promotional programs, with up-to-the-minute information. No report running, no delays.
- Who are your most efficient pickers, and how much more efficient are they?
→ Operations managers can see exactly how many items your top performers pick in a shift (in real time) and a simple monitor on the warehouse floor creates a competition when everyone sees how they stack up. Can they beat the personal best? Can they move up the leaderboard?
So yes, looking back helps you look forward by comparing current performance to prior periods. But make sure your BI tool really focuses on surfacing actions that you can take today to drive improved performance.
(Also…check out how Nowsight BI and Sales Insights combine the best of BI and AI to drive your business.)