Who did it? Where did your profits go in the last 6 months? Do you know? It will take ransacking your business data for clues, asking detective questions and leaving no table unturned to find out! Are you ready to question everything to unravel the mystery, discover the heroes, and expose the culprits that are eating up your profitability?
A beverage manufacturing business recently hired a new CEO to become more profitable. After doing some detective work the CEO realized that their business data did not have enough clues to efficiently manage their products and customers. Their financial reports were not giving them the information they needed.
After talking to Front Line Systems, they decided to adopt a Business Intelligence software solution to extract business data in meaningful ways.
1) Who is buying what? First the CEO wanted to determine who was buying what and how much of it. So, with Front Line Systems help they identified numerous Key Performance Indicators and looked at different ways of grouping customers and products. They reclassified their business data by territory, sales person, type of customer (e.g. fast food, gas station, wholesaler, and convenience store), and types of beverage. They also identified category, family, brand and product for each business vendor.
2) What is profitable? Once they reclassified their data and linked their customers and products with those classifications they were able to decipher which clients and products were helping them become more profitable and where they needed to make changes. They were now ready to determine how to handle the suspects that were eating up their profits.
3) Positively impact your bottom-line – Armed with all the clues, the CEO is making decisions about proper product pricing and products worthy of marketing dollars. He now knows which customers are good for business and which are sidetracking from his business plan.
Not only has this CEO been able to solve the mystery of who is buying what and what is profitable, he is also seeing great financial returns and successfully leading his business. The fun just keeps on going!
Are you ready to find some meaningful clues? We would love to help you get started! Contact Front Line Systems with coupon code: CLUE for a FREE Introductory call to Business Intelligence (value $250). Call us at 866-435-0243 or visit our website now: http://bit.ly/1qCoX1t
Download pdf version of the article: 3 Reasons Business Intelligence Can Be A lot More Fun than Playing CLUE
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