If you had a 100 times more information on your customers would you do things differently? It’s a challenging question. I am not sure too many would respond with “yes “. In this world of big data there is a lot of information generally available on your customers – if you care to access and analyse it. There is the information in your CRM and ERP systems, electronic and print media and of course there is the internet. Using basic tools that are part of even the most basic of information systems (Excel), you can develop models (sales and profitability) produce simulations (what if) and create intellectual property (better ways of doing things).
Technology, if applied appropriately can transform business processes, and aligned applications can improve both productivity and effectiveness.
However, unless there is a specific goal set, or business problem to solve, change or productivity improvements can get lost and the results never appear on the bottom line where they are needed most.
Here are some approaches you may want to consider when using information systems for leverage.
- Use the information available to improve margin, customer service and satisfaction, by targeting products, services and information.
- Develop an enterprise view of information – no more operational silos and distilled data and information.
- Use new cost effective services such as Cloud for sharing data and working on analysis.
- Use selected social media platforms to enhance relationships and foster collaboration with suppliers and customers.
- Incorporate data and information from external sources to develop a holistic view on which to make better, faster decisions.