4 Ways Retailers Are Reducing Operational Costs With Cloud-Based BI

Business intelligence, or BI, is data that empowers an enterprise to run more efficiently by making

better decisions. In today’s business world, this has become essential in an environment where

information is widely available and used by many of today’s competitors. An emerging field is cloud

based technology, where data is stored in a single remote location that can be accessed anywhere

in the world. This article from http://www.MobileInsight.com will outline how operational costs can

be reduced for businesses who leverage cloud-based business intelligence.

1. Data Access Anywhere

One great advantage of cloud based technology is the ability to use it anywhere in the world.

Businesses who leverage these technologies will be able to make decisions based on data that can

be accessed from a remote location. This means that managers and executives will be able to use

this information even while the way or out of town. For international enterprises, this can offer a

substantial advantage by permitting the parent company to get live feedback on company

operations.

2. Better Supplier Communication

Many suppliers today know how important it is to get feedback from their customers to enable them

to more quickly deliver inventory when it is expected. Companies who leverage cloud-based

systems will be able to use a system that is understood by a supplier to enable more efficient

communication. This can substantially cut down on costs as businesses will be able to order the

right products at the right time.

3. More Responsive

The most costly mistakes that companies can make are related to making a wrong decision.

Sometimes even a single wrong decision can cripple an enterprise in a way that can lead to

permanent financial damage later down the road. Companies who leverage an effective cloud-based

business intelligence system will be able to be more responsive to a wide range of needs.

Companies will be able to manage staff, inventory, and shelf space more efficiently and in real time.

These systems will be able to help managers decide how to allocate resources in ways that are most

efficient for the company.

4. Improved Oversight

Especially for companies that are owned by a parent either overseas or thousands of miles away,

the ability to get live feedback at a specific retail store’s performance can truly save on costs.

Company executives will be able to hold business managers at specific stores accountable to their

actions based on this live feedback. These systems can even help to reduce fraud, since they will

essentially account for every transaction and the actual system is run from a remote location. Click

here for more information about Cloud-Based BI.