Data is the path to business growth

Fast and efficient growth is one of the most desired elements for a company,but, like everything else in life, it requires effort and perseverance. Despite the dedication that is so important in any business department, we can count on a help: business analytics.

Thanks to data, companies can understand the needs of their customers, the elements that need to be strengthened or the problems that need to be solved. According to a study by McKinsey & Company, companies that invest in solid analytics are 1.5% more likely to grow faster than their competitors.

How can you improve your business through task automation?

The automation of processes is already a reality that is part of companies. In 2017, Statista published a study revealing that 52% of managers thought that this type of process improved the functioning of companies thanks to the mechanization of certain tasks.

It has been 4 years since then with a pandemic in that period that has accelerated business development. Do you still think you don’t need to automate any processes in your company?

A McKinsey & Company study reveals that companies could already automate 45% of their purchasing processes. So if you have already put this proposal on the table more than once, this is the article for you.

In addition to purchase process automation, 51% already use marketing automation in their companies and more than half plan to implement this type of technology.

65% of B2B respondents agreed on the need to rely on business analysis for success. In order to implement this procedure, it is important to take several elements into account:

• Identify company objectives.
• Interpreting the data.
• Translating that information into strategies.

Advantages

It goes without saying that the aim of automation is to make companies more efficient and more organized. That is a fact. But, how can you benefit in other areas?

• Standardizing processes= greater efficiency.
• Reduction of time and expenses.
• Better accuracy and performance of your professionals’ tasks.
• Less chance of error.
• Control over results.
• Increased customer satisfaction.
• Greater collaboration between the team.

Disadvantages

There are also disadvantages related to automation, below you can find some of them that you should be aware of:

• When there are many subscriptions and automated charges, it is common to forget to cancel something you are no longer using.
• Review of subscriptions from time to time.
• Resistance from staff to automate tasks.
• Saturation from using too many programmes.

What does it do?

We live in a globalized world where there are infinite possibilities for a need. Therefore, we cannot really know our competitor, which leads to more consumer indecision.

Through automation, we can continue to grow and the customer can choose us. By reducing routine tasks, professionals can focus on more important tasks that improve the company.

Moreover, if you take into account the internationalization of companies, competition is growing and thanks to automation you will be able to be closer to your customer. This will help your company to expand in many more countries.

If you are not yet aware of the powers of business analytics and want to learn more about this area, feel free to read our new article focusing on the importance of business analytics for companies.