Business analytics tools are necessary for companies to truly grasp their customers, market trends, workplace culture, and operational efficiency. Without this data, business decisions are being made based on guesswork, which could be the reason your business is struggling.
The good news is that it’s never too late to implement business management software to identify new opportunities, make informed decisions, and lean on data-driven strategies that can give your company a competitive edge.
This article discusses how coAmplifi’s business analytics tools can help struggling businesses scale and sustain themselves through data and four key questions you should ask when evaluating business analytics software providers.
How coAmplifi Can Help You Turn Data Into Action
coAmplifi is a workforce management software that brings all of your key business functions under one roof – including data analytics. A few key metrics the system tracks include:
- Employee retention rates
- Productivity rates (quantified as a numerical value) and associated costs
- Time spent on tasks per role
- Time spent in meetings
- Work-life balance (quantified as a percentage) to help you identify employees at risk of burnout
- Year-over-year performance comparisons
Alongside other important business KPIs, these data points help coAmplifi users achieve the following.
Identify Customer Pain Points
If your business is struggling, you’ll need to determine whether the struggle is taking place internally, such as within your operations, or externally, such as within your market or customer preferences.
Drawing insight from customer feedback and behavior can help you identify any pain points or barriers they may be facing that could be impacting your bottom line. Sometimes, these can even be simple fixes. For example, if your customers find your online checkout process to be confusing, that may cause them to abandon their online carts and seek what they need elsewhere.
Having this data on your customer base can also help your team create highly targeted marketing campaigns that speak directly to your customers’ preferences.
Improve Operational Efficiency
Your business may struggle due to internal inefficiencies such as poor communication, low accountability, and unclear expectations. coAmplifi offers collaboration tools like instant messaging and team dashboards, as well as project management tools to clarify expectations and responsible parties – all in the same platform. This means that just implementing the software may help boost your business.
Predict Future Scenarios
coAmplifi’s business analytics tools come with predictive analytics that can help you determine the outcomes of different business decisions before making them. This can help you carefully consider and choose the best options for your company the first time, saving time on uninformed choices based on intuition that may have been mistaken.
Pinpoint Opportunity Gaps
Every business has opportunities to grow, and having a bunch of data in front of you can make it easier to see where there may be gaps in your operations or offerings. This can help introduce more innovation within your company and help you operate in a leaner fashion.
Draw Quicker Conclusions
You can have access to a ton of data, but if you don’t have a way to quickly visualize it, it may not be helpful. coAmplifi offers data visualization tools that help you digest large amounts of data in a short period of time to draw faster conclusions.
Measure the Impact of Changes
Once you’ve made a few changes using the data you have available, you can keep an eye on these metrics to measure their impact. Knowing what changes helped and which didn’t go as planned can inform your future strategies if your company is ever in a similar position again.
What to Look for in Business Analytics Software
Not all business analytics platforms are created equal, which is why it’s important to search for a solution that will fit your needs now and in the future. A few things to consider when reviewing your options include:
- Data quality: Is the data being collected accurate, consistent, and complete to generate reliable insights?
- Accessibility: Is the platform intuitive and easy to use with little training or need for third-party help?
- Adaptability: Can the data analytics tools be adapted to your business needs now and as your company grows?
- Data interpretation: Does your team have the knowledge or tools needed to accurately interpret the data and transform it into action?
Turn Your Business Around With the Right Data
If your business is struggling, it’s time for a new approach. Leaning into hard data rather than gut feelings can help you quickly identify areas for improvement that can elevate your operations and customer experience.
coAmplifi has the tools you need to know your business inside and out. It also comes with communication tools, timecard functionality, project management dashboards, and more to help you manage all aspects of your business in one place.
Reset your business on the path to profitable growth. Request a free demo!
