Last month, our CIO Dustin talked about 5 great reasons your business should have CIO Guidance. These 5 reasons were Budgeting, Reach, Vendor Management, Purchasing and Office Moves.
This month, I would like to dive a little deeper and focus on the “I” in CIO. CIO stands for Chief Information Officer. Getting a handle on your information will become a lever helping you run your business. This could be the pivotal component in creating a competitive advantage.
Here are 3 ways you can use the information in your business
Where is your data in your business?
- Do you have client data sitting in you CRM solution?
- Can you tie your CRM data to your purchasing & accounting solutions like QuickBooks?
- Do you have an ERP or Ecommerce solution with valuable data about your customer purchases?
- How do you connect these different types of data?
- Have you heard of Power BI - Business Intelligence from Microsoft? This could be the missing link to tie data together.
What type of questions should you be asking?
- Who are the most profitable customers?
- Which customers generate the most revenue?
- Where arecustomers coming from? Web, mobile or phone calls?
- What Solutions that you sell are more profitable?
Put your information to use in your business
- Now that you know what makes a great customer, you can narrow your focus on finding more profitable customers.
- Knowing where your customers are coming from allows you to develop strategies around those platforms.
- Put more effort into those product offerings that will bring more to your bottom line.
Once you start understanding where your data is being stored, tying the different data sources together, asking the right questions and putting the data to use in your business, then you can start pulling on the levers to change the direction to your bottom line.
For more information on how Technology Pointe’s CIO level Guidance can help you discover how to use the information stored in your business, please visit our website.