What is SAP BI?
SAP BI is a platform and tool suite for businesses. It provides solutions that grant companies the ability to predict business outcomes by running simulations, to do extensive planning sessions and overall harness the power of Business Intelligence (BI). In case you are familiar with SAP BIW – Business Information Warehouse you will benefit from knowing that these two are the same exact piece of software – subject only to rebranding. Summarizing the 5 main benefits of BI:
- Business intelligence is a technology that helps companies make better decisions.
- BI tools help companies make management decisions based on historical data.
- With BI system you are allowed to extract, transform and load data from various sources
- With BI systems you can create meaningful reports from social media campaigns and you can better analyze your target audience.
- With BI reports you can better analyze where you can reduce your company’s costs and also analyze the risk in your company.
What does SAP BI do?
SAP BI is a data storehouse, providing a multitude of utilities that enable companies to do complex simulations and queries on the data. It provides the necessary means to enable data modelling in a correct manner. The schemed data can then be extracted by using another part of the SAP BI toolset for simulations and predicting business decision outcomes.
Last, the piece of software also enables you to do reporting. The utilities are user friendly and enable even people with business expertise to fully grasp the basics and craft reports based on business requirements.
Overall, SAP BI empowers employees with instant and reliable access to Business intelligence and big data mining tools, so that the decisions they make can be well informed, without this impacting the timeframe for taking one.
What are the advantages of using SAP BI?
The benefits of using SAP BI can be summarized by claiming the following points:
- Provides the means to scheme and plan data in a strategic manner
- Does provide instant access to well – formed and highly valuable strategic information
- Empowers you to create more informed decisions – and faster
- Does contribute to increased corporate efficiency and productivity
The points above provide a good summary of why using a tooling like SAP BI is of great importance for many businesses – from medium sized to enterprises. However let us briefly focus on what separates SAP BI from similar tools, currently available on the market:
- SAP BI is deservedly a market leader. Much more business intelligence specialists are qualified to effectively use its utilities than those trained in any other piece of software
- SAP BI provides a rich toolset enabling multiple capabilities that cannot be found in one place anywhere else
- SAP BI provides quantifiable results, providing you with the ability to effectively know its benefits from the get go
- SAP has been supporting and improving its product for many years, and has been able to provide massive improvements to performance and user friendliness
- The focus of SAP software is the business – and they succeed in making their product accessible for people more proficient in the business domain, rather than requiring technological prowess
If you are interested in learning more about the software and all its great benefits, SAP consultants will be happy to explain everything in detail.
How can SAP BI help my company?
- Statistics show that the ROI of SAP BI is unbelievably high – 10.57 times return of the initial investment
- Improved capacity utilization rates
- Proactive decision making based on real time strategic data
- Enhanced profitability accounted by sales and marketing teams – thanks to the better data that is available to them
- Permanent data storage – a vast improvement from transactional data storages, SAP BI provides a less volatile solutions to businesses
- Improved customer satisfaction rates – getting customers is great, but keeping them is also beneficial to a company – this is what separates the good from the great.
What is SAP BW?
In 2007, SAP acquired integrated BusinessObjects. Today they are called SAP BusinessObjects (SAP BO) and business objects have different solutions.
What is ERP?
ERP is a transaction system that supports daily activities of business people and clients such as financial transactions, sales orders, trace orders, employee transactions, etc.
What is CRM?
CRM stands for customer relation management system provides support for the client before the sales order and after sales.
What is ERM?
Enterprise risk management application support the design and creation of an integrated and strategic approach to the management of risk across the organization by helping them identify, measure and manage various risk classes such as:
- Market risks
- Credit risks
- Liquidity risks
- Operational risks
Sales Analytics - A Great Way to Plan and Measure Your Sales Team Success
In today's economic environment, the total number of closed sales is not the only element to measure the success of your sales team. In order to get the best picture of your sales team's achievement so you can come up with a better plan to improve their performance, there are a lot of components should be involved in the equation, and these are the components that you can find in a comprehensive sales analytics.
What is sales analytics?
Sales analytics is a comprehensive method to understand the current sales trends and sales results while at the same time predicting those trends and results for the future. The main objective of sales analytics is to provide a thorough evaluation and predictions of sales, so you can make some necessary improvements to cope with the trends so you can expect better results.
Sales analytics is involving various data sources, including internal applications, surveys, application transactions, revenue reports, and pretty much just about all kinds of business transactions. Ideally these data should be collected continually so you can always make a sales analytics whenever needed.
Why sales analytics?
Sales analytics could help you discover some hidden relationships and hidden trends within the collected data, this won't be possible to achieved without using the proper method. A good sales analytics can help you find out the needs and desires of your consumers so you can act accordingly in order to answer those demands.
Benefits of sales analytics?
The main benefit of sales analytics is obviously to provide accurate sales forecast by examining sales trends and data. Armed with this calculation, your company will have a greater chance of achieving its goals in the future. Sales analytics provide more certainties and actual data rather than just speculations when it comes to planning your sales strategies, so you can have more predictable outcomes.
Sales analytics will also provide great benefits for everyone in the company at all levels, especially those who are in charge for the success of the company's sales campaign.
Sales Rep Control - In order to come up with sales forecasts, companies usually rely on the data and prediction from their sales reps, who get their data from each sales in their pipelines. Unfortunately, these sales reps are usually using their best guesses in forecasting the closing of these sales and when it will happen. This guessing game will affect greatly on the sales forecast and if they guess wrong, the sales forecast could be worthless because it won't provide much help for the company's future success in sales. Sales analytics can avoid this guessing game and provide more accurate forecasts that are far more accountable.
Sales Managers - Sales analytics will help sales managers to get sales forecasts that they can rely on. This will increase confidence in these managers so they can come up with great sales plans that will work with more predictable outcomes. Furthermore, if the sales reps can provide such accurate sales predictions, that means less work and more time for sales managers to do other important things, coaching salespeople so they can sell better for example.
Financial and Senior Executives - These people may not have direct connections with the sales process, but they are the ones who will be responsible to the stakeholders. Sales forecasts provided by the sales analytics will allow them to create more accountable revenue forecasts that they can present to the stakeholders.