Decades ago, business decisions were primarily based on experience, intuition, current market conditions, and historical knowledge. This is because the technology at the time was not yet developed enough to where tools like computers, algorithms, and business intelligence software could be used effectively in business operations.
With the advancement of computers and computing power, companies started collecting data from customer interactions, supply chains, financial institutions, market trends, and more. Soon, business owners figured out that all this data-driven business development could aid their decision making processes in ways that would optimize business operations.
Today, custom software, including dashboard development, allows business leaders to make data-driven decisions by providing real-time visualizations of key metrics, trends, and analytics to predict market shifts, optimize operations, and personalize customer experiences. This is all because of data. Those who ignore data run the risk of falling behind their competitors who are making more strategic, data-backed moves.
However, as a business, you must have business intelligence software to provide a structured way to collect, process, and interpret this data. Without such a system, you will find yourself drowning in spreadsheets and lists without extracting any real value.
There are mainly two ways you can go about this: You can use pre-packaged software or employ custom-built options.
Pre-packaged solutions tend to be one-size-fits all, as they try to appeal to several businesses. This might get you basic functionality but may not fully address the unique needs of your business.
Custom-built solutions are the better option. With custom-built business intelligence software, the solutions align with your companyโs specific workflows, pain points, and goals.
From dashboard development solutions that give you customized interfaces to options will help you transform raw data into actionable insights, here are a few ways in which custom software empowers business leaders like you.
Centralizing and Structuring Data
Most businesses have data scattered across multiple platforms. These can be CRM systems, spreadsheets, financial software, third-party tools, and more. Trying to consolidate and make sense of this fragmented data manually becomes a huge headache and introduces a lot of inefficiencies in the business operations.
With custom business intelligence software, data integration becomes a possibility. You can bring all this data into one centralized location, giving you consistency, less redundancy, better accuracy, and a more efficient operation.
Real-Time Reporting and Dashboards
Making decisions based on last monthโs numbers alone is like driving while looking in the rearview mirror. You canโt solely rely on that. Sometimes, if not most of the time, you must know what is currently happening in your business and this is what real-time analytics give you.
For instance, a retail company can use their business intelligence software to instantly see which products are selling fastest and adjust inventory before they run out. Dashboard development efforts that give you custom interfaces and real-time insights from the software allow you and your business to pivot quickly and stay ahead of challenges.
Automating Data-Driven Workflows
Automating data-driven workflows involves anything from data automation to automating decision-making processes. Instead of manually sifting through reports, software can trigger automatic actions based on data trends.
For example, finance teams being automatically alerted and suggestions made on budget adjustments when a companyโs cash flow drops below a certain threshold. Marketing teams might be prompted to launch targeted retention campaigns if customer churn rates spike. All this, and more, can be achieved with the power of custom business intelligence software.
How to Get Custom Software For Your Business
While custom software is great, it has challenges like cost and development time, employee training and adoption, keeping up with technology advances, security concerns, and more. This is why you need to partner with a reputable developer; preferably one that specializes in building custom enterprise software for businesses and has worked with several businesses.
Thatโs where Pell Software comes in.
From dashboard development to maintenance, we build custom business intelligence software like a custom ERP solution that simplifies work, eliminates repetitive tasks, and automates processes.
Our team is made up of 100% US-based software engineers that talk directly with the product owners to achieve an efficient and personalized experience throughout the development lifecycle.
If you are ready to transform the way you work with data-driven business development, contact us today to elevate your business.
