Contributed by Sachin Bakhi, CEO at EZlytix
In today’s data-driven world, digital transformation is inevitable. For a mid-market business to grow and compete they have to make data the epicenter of their decision-making process. Many executives think Analytics and Big-Data are for the large enterprise – and that used to be accurate even 5 years ago, due to huge capital cost. Now with the adoption of Cloud, business can implement data analytics much faster, better and cheaper.
Managed Analytics as a Service will take care of all your needs from data to discovery. You don’t need expensive hardware, software or to worry about hard to find skilled resources.
Analytics – “It shouldn’t be this hard”
Our goal was to re-write the traditional analytics playbook. EZlytix is a turnkey solution built for SMBs who cannot afford to follow the traditional playbook, but still want powerful, actionable insights into their business. EZlytix is a cloud-based Managed Analytics as a Service that delivers the vibrant visualization that you expect. More importantly, we have integrated powerful data management and data cleansing capabilities that deliver a “single version of the truth” data store, in about a week.
We’ve accomplished our goal. It’s now easy to implement a full-featured business analytics platform with pre-written dashboards, KPIs, and reports. You will obtain meaningful results in a matter of days without a large upfront CAPEX investment.
Profitable growth and higher margins should be everyone’s business and should not be limited to c-suite. All top-line growth is not created equally similarly all customer or products are not profitable. The question is how do you tell good growth from bad growth? The answer lies in your data. As a CEO, it is critical to build a data-driven culture and focus on the importance of hitting multiple singles and doubles – and not just focus on hitting home runs.
Research shows that companies who empower their business users with accurate information to make decisions based on various dimensions, do a better job in understanding their customers, increasing revenue and improving margins. Such companies will thrive over the long run, and grow both the top and bottom lines consistently and predictably.
As an industry, we have been cutting costs over a decade and have squeezed every penny possible. It’s time we re-orient our thinking and lead our organization in achieving accelerating profitable growth by pinpointing opportunities, analyzing trends, identifying up-sell and cross-sell opportunities and correlating with economic indicators. Focus on four basic categories of growth:
1: Existing Customers with Existing Needs
2: New Customers with Existing Needs
3: New Customers with New Needs
4: Existing Customers with New Needs
I was speaking with a mid-market CEO at a networking event. This bright, energetic, over-worked CEO was telling me that the demands on his small team are overwhelming. In addition to their regular duties, the private equity firm that recently acquired them was placing additional demands for information. He is considering implementing an analytics solution that can integrate data from multiple silos but didn’t know where to start. There are 50+ tools out there and he was afraid to sign up for the wrong one and also didn’t have time to evaluate multiple tools.
“Spend less time collecting and more time analyzing data”
In addition to the tool features (which are 90% similar across all leading visualization tools) executives should evaluate an analytics solution based on the following 9 point checklist:
Feel free to explore EZlytix for more on what they have to say about Managed Analytics.
Did you know that Fulcrum Group’s Fractional CIOs are more than just technology advisors? Our Fractional CIOs can help you attain technical alignment with your business goals, and can also advise on business processes outside of IT. Contact your Fulcrum Fractional CIO to learn more..