We all know that the scale of the pandemic has had an unprecedented impact on the individual and on the company. The latter must now face its human and societal responsibility, but also economic because it is a question of facing the inevitable shock and of surviving.
Here, How can business intelligence help the company to best overcome this crisis situation? How can it help to keep your valuable data safe?
Real time situation Management
The first reflex is that of measuring the situation. BI, connected to business applications, must allow information to be delivered very quickly in real time. All trades are concerned and those which are the most “digitalized” obviously provide precise and reliable data. The commercial functions are certainly on the front line. They manage forecasting and order taking, the number of meetings, closing dates, etc. On the HR side, absenteeism for any reason is also a key element. Collecting and consolidating data in this area is already a first challenge. This obviously impacts the current order books, delivery, logistics…
The feedback and the synthesis of these data constitutes for BI, of course, the first device contributing to the control of the situation and the capacity of the company to ensure the continuity of its services.
Immediate but no less important corollary: if we are able to identify critical indicators and quickly obtain a global view with BI, the analysis of sensitive situations must, on the contrary, have enough detail to understand each situation . “In wartime”, customer loyalty will be put to the test and managers and leaders will have to arbitrate, as a matter of urgency, many choices. How to identify customers according to their “profitability”, their “size”, or their “potential”? Here again, Business Intelligence should make it possible to deepen knowledge in order to feed reflection and decision, in order to preserve customer loyalty. This is just an example. Other “quick wins” approaches exist in all sectors of the company.
There is no doubt that national solidarity plays a major role. But let’s not kid ourselves; The ability of each company to reassure its financial partners, shareholders, banks and other investors depends on its ease of communicating with them, with frankness and confidence. Business Intelligence naturally contributes to the knowledge of the economic data of each of the company’s activities. While cash flow will certainly be undermined, we will have more confidence in companies able to identify unprofitable or non-strategic activities, or quick ways to save money, but also and why not, the opportunities of business to seize.
Control on Confidential Data
Undoubtedly, for many companies, this new “sudden” crisis will be revealing, as were other crises before it. It will lead them to become concretely aware of the importance of having the means to control their data. Being able to quickly measure, understand to act or even react is a key element of this reflection. Knowledge of the company’s critical performance and profitability indicators is more than ever an asset in a period of tension. This knowledge must be shared by all, decision-makers or actors of the organization. It is even the sine qua non condition for reactivity that is most suitable and immediate to the contexts that arise.
SMEs are particularly concerned. If they are found to lag behind the largest companies in terms of the use of BI, they can, by their size, be more agile. However, the business intelligence tools at their disposal must also be available. This is certainly an axis of reflection for publishers of BI solutions.