Until now, many organizations have prided themselves on giving customers what they want. But today, the phrase “it’s all about the customer” has a whole new meaning. The value chain now begins with the buyer instead of the seller. We live in a world where consumers are informed and empowered, and a seamless, no-risk buying experience is considered the norm. In order to meet the demands of this new reality, companies must know everything about their customers, and rely on data more than ever. You will need sophisticated tools to gather, analyze and interpret data about these empowered customers in order to stay competitive.
Meet the Challenges of the New Value Chain
Imagine what your organization would look like if it was truly customer-centric. Every area of your business would be intentionally designed with the customer in mind – research, product development, service, sales, marketing, internal processes, operations and the whole supply chain would all be retooled to focus on the customer and meet their expectations.
But what are their expectations? To align yourself with market demands, you need to know everything about your customer – their buying preferences, opinions on products or services, and what they expect from you. With so many sources of consumer data readily available for analysis, how will you make sense of the information tidal wave? This is where Business Intelligence (BI) can help.
Business Intelligence allows your organization to meet these challenges and become more customer-centric. Through powerful multi-dimensional tools, BI can distill large amounts of information into insightful, understandable reports that show you what’s really happening along all points in the supply chain. Business Intelligence gives you the capabilities to gather, analyze, store and interpret the wealth of customer data required to make the right decisions in real-time. After all, what good is information overload if no insights can be gleaned from it?
To get the most value from a BI solution, take a look at the current state of your data and your organization’s ability to be agile and responsive to changes in demand. While BI can help you improve in both these areas, it’s a good idea to have a few fundamental things in place before you invest in BI software:
Customer Relationship Management – While many companies are already collecting data on their customers, it is often located across multiple systems that don’t interface with each other. This results in disjointed, incomplete reports that are not helpful in making decisions. A good CRM system such as Microsoft Dynamics CRM is one of the best ways to get meaningful, real-time customer data. Using BI and CRM together will provide more insight than either one alone.
Agile Business Management – BI tools will help you make decisions about what to do next, but they cannot reshape an entire supply chain by themselves. Consider an agile ERP solution like Microsoft Dynamics AX, which is inherently designed to adapt when demands change. Once a decision is made, you must be able to act on it quickly, even if you are a global company with multiple warehouse locations.
Organizing around your customer’s desires is a sure path to success. Business Intelligence will help you draw the map to get there. When used in conjunction with other agile systems such as CRM and ERP, BI can provide true real-time visibility throughout your supply chain. OmniVue can help you become more customer-centric by taking a strategic, holistic look at your organization and putting you on the road to success. Contact us today to talk through how to put your customer at the center of everything you do.