+1 800 967-0030

What Is Business Intelligence, Why Should You Care?

The tools available to the average business today are staggering when compared to what was possible even a decade ago.

With so much focus on data and the search for actionable information, it’s necessary to have a smarter way to interpret the numbers that result from collecting so much intel. Data mining the old fashioned way can be time-consuming and exhausting, and frankly, doesn’t guarantee you’ll even find the information you need.

That’s where Business Intelligence comes into the picture. Fulfillment services are great for putting BI applications to work, there’s plenty of data and questions that need answered!

Business Intelligence is More Than Basic Data Reporting

Business Intelligence is a relatively new specialty within data-based information technology, but it’s one that can make your entire warehousing and distribution run more smoothly and with less waste, resulting in net gains across the board.

BI encompasses three main functionalities: reporting, dashboards and benchmarking:

  • Reporting provides useable information that’s formatted as a scorecard. These reports are customizable for your needs, but can include metrics like on-time delivery and capacity, for example. They’re a good tool to help you have more productive discussions with your supply chain partners or your 3PL and provide actionable data that can help to improve processes.
  • Dashboards create a daily overview of what’s happening in the supply chain. You can see at a glance where your packages are, which ones are running behind schedule and so forth. Because what you’re seeing is basically in real time, you’ll be able to make quick decisions that can improve your order fulfillment.
  • Benchmarking helps you compare data against your company’s peers, so you can see how you’re doing. You might check your freight rates, for example, against the marketplace averages to see if you need to try to renegotiate your contracts or note that your packages have a lower on-time delivery percentage than the competition.

Data is the key to success in the world of fulfillment. From the very vital stats related to the merchandise in your warehouse to numbers along the long road to delivery, new ways of doing things using Business Intelligence can revolutionize your logistics experience.

It’s easier than ever to find out why certain geographical areas are notorious for having late deliveries, allowing you to work out the bugs or send merchandise along a different route or via a different carrier to improve on-time delivery rates company-wide.

 

October 05, 2017
Share This:

Related Posts

RECENT POSTS

Scroll, Click, Buy: How to Sell On Instagram

Do you have an Instagram shop? Instagram Shopping is quickly becoming the preferred way for consumers not only to learn about new brands and products on Instagram, but also to purchase them in just a few simple steps. If you are not already selling directly on...

New Year, New You?

Every year, millions of people make New Year’s resolutions, hoping to spark positive change, adopt new habits, or even reinvent themselves. The recurring themes each year include a more active approach to health and fitness, improved finances, better relationships,...

Grow Your e-Commerce Business in 2023

Win at E-commerce in 2023 Starting an e-commerce business has never been easier. But with a low barrier to entry, there is plenty of competition as well. If you have set your sights on growing your e-commerce business, you know that small adjustments can add up to...

Holiday-Proof Your Website

According to the National Retail Federation, holiday sales for 2022 are expected to increase between 6% and 8% over 2021. Furthermore, NRF predicts that online and other non-store sales will increase between 10% and 12% to between $262.8 billion and $267.6 billion....

Fulfillment Services in Fort Lauderdale, FL

3PL Services Serving Fort Lauderdale, FL If your e-commerce business is based in or near Fort Lauderdale, FL, chances are, you are familiar with the benefits of third-party fulfillment services near you. World famous for its expansive canals, Fort Lauderdale is loved...