Three Ways Real-Time Data Can Improve Your Business

The human brain is a feat to marvel, but that doesn’t mean it doesn’t have its limitations. We cannot, for instance, process and understand large quantities of data as single entities. We need to first sort through this data in order to make meaningful deductions. Big data alone has untold potential for changing everything we know about our way of life, but you don’t need access to all data produced in order to make better decisions. Simply having access to real-time data from different departments or business units (BU) within your company can do wonders towards improving your business.

Increased Processing Speed

One of the first benefits of implementing a product provided by Omnia Ecommerce is it allows for real-time data to be accessed by different departments, increasing processing speed. If your sales rep has direct access to what your company has in stock, they can directly and immediately make a sale to a client, both in the B2B and B2C sectors. Similarly, if the product has a longer lead time, they can then put in a request which would then be sent to your different business units, who would similarly be able to make fast, effective decisions to potentially move stock around in their ERP system, whether that be SAP or another provider. This increased speed will help ensure that your customer gets their order fast, and that you can promise effective results for more customers or clients than ever before.

Lowered Production Cost

Another benefit of having real-time data is that your employees will never have to make guesses when it comes to costing. You won’t have an unneeded order of materials when you already have enough. Done right, you can use the real-time information available to you to narrow down the purchase of raw materials and production rates, so that you can sell every single item you produce. This will ensure you don’t waste money producing items that will never be sold. By having data in real-time, your employees can make better decisions, and you yourself can find innovative ways to maximise production and minimise redundant costs for a more efficient business.

Understand Customer Habits

Real-time data doesn’t just benefit your production; it can help you improve your customer service immensely as well. Take your call service, for instance; by creating a file for each customer who calls and keeping a log of their concerns or issues, you can provide them with better service if they were ever to call again. This will require all of your call operatives to have access to the same file in real time. Similarly, tracking user data on your website and saved preferences on their account can allow you to offer current offers and advertisements sent to their email box, increasing the likelihood that they will buy.

There are many ways having data in real-time can benefit your business, because you should never be a step behind your own company. Centralise your system and ensure that every one of your departments has the information that they need to do a better job than they did yesterday.