How do you set the price to get maximal profit from your products? Do you know which customers are the most profitable ones? A good sales margin doesn’t always give you this information if the customer is bringing money in at a profitable level. Would it be wise to start by knowing your most profitable products and focusing on them?
A data-driven profitability solution is the right answer for guiding your business onto the right track. It’s all based on data analysis of your daily activities.
Companies in the top third of their industry in the use of data-driven decision-making were, on average, 5% more productive and 6% more profitable than their competitors. This performance difference remained robust after accounting for the contributions of labor, capital, purchased services, and traditional IT investment. It was statistically significant and economically important and was reflected in measurable increases in stock market valuations (hbr.org).
We think profitable companies recognize that data don’t belong to IT. Instead of expecting IT to handle all data collection, data quality issues, and queries, these companies expect all business units to also collect, manage, and use data. For many business units, data collection today is one of their primary tasks.
Implementing a profitability management solution is frequently seen as a complex project with complex parameters. We disagree.
We have ready-to-go service for successful and easy profitability calculation. It’s all about our business expertise and experience.