22 mrt Monitor trends, save costs, focus on the future: business analytics tools
A tool that provides seamless insight into the most critical business metrics and Key Performance Indicators (KPIs) without any integration: it almost sounds too good to be true. Because the Internet of Things (IOT) is comprehensive and businesses usually find themselves integrating various partial solutions into one overall solution. There is, however, a way to avoid such a time-consuming and costly endeavor: the right business analytics tool will save you tons of hours and lots of money. Moreover, its analyses will allow you to focus on the thing that matters most: your company’s future.
Why invest in a business analytics tool?
The answer to this question is quite obvious: subscription-based Application Service Providers (ASP) that sell recurring revenue services on a large scale want to have a clear picture of their position in the market. After all, knowing whether they are running a healthy company is imperative. Needless to say that they require a tool which shows how their services are interrelated and deployed. “Our business analytics tool maps the overarching use of the total base, at the level of both customer and device,” says Sander Mulder, CCO and partner at New Line Mobile. And a lot of valuable information can be distilled from it with little to no setup effort.
What does it do?
As business analytics tools consist of several components, they provide insight into a variety of important matters:
- Costs: what are your expenses?
- Savings: in which areas are you saving money?
- Data usage: how much data do your customers consume – on average – when using your devices?
- Churn analysis: which customers are likely to end their contract with you based on the data analysis performed by the system?
- Deployment trend: does the overall IOT environment indicate growth or decline?
- Business growth: what components of your company are expanding? Which clients are responsible for the biggest growth on a monthly basis?
- Quality of service: how healthy is the overall deployment of services and which alerts require extra attention?
- Sales: what does your future relationship with your customers look like based on their current development trends?
In short, a business analytics tool provides companies with seamless access to a wealth of information in terms of short- and long-term business performance, expenses, customer satisfaction, and strategy. For example, it allows you to make your clients aware of irregularities before they call you. Moreover, you can detect a client’s rapid growth and ensure that you devote sufficient attention to your relationship with them to keep the competition away.
Curious about New Line Mobile’s comprehensive business analytics tool that can be activated in one day? Don’t hesitate to contact us!