How to avoid data paralysis

Many managers of retail and hospitality operations will be mulling over the impact that analytics could have on their business.

It’s not a surprise that lots of decision makers will want to take time to assess their options to ensure that they are taking the best course of action to achieve their goals. But in many cases this procrastination is exacerbated because of the perceived complexity of implementing an analytics system.

In reality, this couldn’t be any further from the truth.

Not only can analytics systems be implemented rapidly, but results can be achieved quickly – giving managers the information they need to make positive decisions that will boost their business.

For example, at Zoined we offer a cloud-based off-the-shelf analytics service that can be quickly launched without the need for a major IT project. We also offer a Proof of Value period as we are confident that the service will prove to be a great tool in managing and improving a business – so there really is nothing to lose.

With reports that are easy to understand and assist in making the crucial decisions that improve business processes, it’s no wonder that our customers often tell us how much they enjoy using the Zoined dashboard – one even said he uses it more than Facebook!

Of course, there are many reasons why managers suffer from this data paralysis. In fact, research shows that more than half of Big Data projects never reach completion, with factors cited such as inaccurate scope, technical roadblocks and lack of cooperation.

Many managers also tell us that the sheer volume of data and numerous reporting tools they already work have become a time inhibitor. Sometimes the processes that are supposed to make their business more efficient are in fact stealing time, and many become slaves to reporting rather than acting on the facts they discover.

The good news is that the latest software not only provides a much better user experience, but in many ways can exceed expectations.

Data can be displayed in a visually engaging way that helps retailers spot trends and opportunities, reports can be accessed anywhere and shared with the team and all users can act on solid insight to improve their business in a way that traditional spreadsheets and clunky reports can simply not keep up with.

In our experience, visual analytics has not only helped users to achieve their goals but also spot opportunities to improve their business that may have been hiding right under their noses, whether it’s data from POS, footfall trackers or even staff data.

So if you’re on the fence about analytics, break free from data paralysis. It may be the best decision you make and remember, you have nothing to lose and everything to gain.

Like this article?

Share on Facebook
Share on Twitter
Share on Linkedin
Share on Pinterest

Leave a comment