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Excel vs Business Intelligence Software

Many businesses use Excel spreadsheets for a variety of needs. They are a great way to organize information, and if used correctly, can add value to an organization in a number of ways. If spreadsheets are used as a source of business intelligence information, however, challenges often arise. A comparison of Excel versus business intelligence is always a useful…

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A list of 17 supplier KPIs to master

Wholesale suppliers understand the value of data and the need to harness it within their businesses. To help people working across sectors such construction and industrial supply, electrical and HVAC we have created a list of the essential supplier KPIs. If suppliers measure and master these KPIs, they will have a strong gauge of performance across many parts of…

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Why your company culture is key to business intelligence success

Despite the increasing adoption rates of business intelligence (BI), many executives do not feel that data is leveraged effectively across the whole company. Company culture and commitment to data-driven decision-making is a key determinant of a company’s success with BI. Promoting a data-first policy that values training, data clarity and inclusion of all departments from sales to finance is…

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Manufacturing data analytics for a single source of truth

Today, manufacturers face a challenging business climate. There is pessimism about the global demand for manufactured goods and the slow recovery of the economy due to covid-19. There are frustrations about political instabilities, shortage of skilled labor, and declining foreign trade. The concern for intensifying competition is rising as revenues and margins are shrinking, and there is pressure to…

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Empowering remote finance teams with the right tools

For finance teams, the transition to remote work during COVID-19 has brought a mix of various opportunities and challenges. Since finance teams spend most of their time on their computers to create various reports, analyze and process data, remote work hasn’t created too many obstacles. However, if the finance team is reliant on the IT department to create reports,…

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Win the stock and inventory management battle with data analytics

Stock and inventory management: how can you optimize it? At Phocas, we set out to answer this question with one of our in-house subject matter experts, Page Schrock. In a recent webinar, he provides a comprehensive overview about the challenges of inventory management and the benefits of using data to overcome them. … business communication

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All about business intelligence (BI): the basics

When I started at Phocas and was asked what I did, I said I worked in ‘business intelligence software’. I found many people were thinking ‘what the hell is that?’ so now I explain business intelligence software helps people make better ‘data-driven’ decisions. And most of us do it every day without even thinking about it. … business communication

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Static reports vs business intelligence

What is the difference between traditional static reports and business intelligence (BI)? Static reports are often about a set timeframe such as the last quarter of results, and you have to consider all the elements that you’ll need when preparing them. In contrast, BI takes the heavy lifting out reporting because it populates and automates a report at any…

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What is data-driven decision making?

Every day, we use data to make decisions in our personal lives. We may use the data collected in product reviews to drive our purchasing choices. We may review new cases of coronavirus in our neighbourhood to help us decide whether to wear a mask.We may rely on our GPS to help us choose the best route to where…

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