TECHNOLOGY, TRENDS, TACTICS for South African SME Leaders to Scale and Future Proof their Businesses
Today we’re bringing Iron Man’s J.A.R.V.I.S. to your business for quick and effective decision making.
We’ll be looking at:
- Tech: AI-Powered Dashboard Tools
- Trend: Real-Time Decision Making, Enhanced Customer Understanding, and Operational Efficiency
- Tactic: Implementing your own J.A.R.V.I.S.
Let’s jump right in!
Tech: AI-Powered Dashboard Tools
Bringing J.A.R.V.I.S to your Business
Dashboards have become indispensable tools for SMEs. They consolidate data from various sources, presenting it in an easy-to-understand, visual format. Enhanced with AI, these dashboards can predict trends, automate insights, and provide deeper, more actionable data analysis.
Think of AI-powered dashboards like Tony Stark’s J.A.R.V.I.S. from “Iron Man.” Just as J.A.R.V.I.S. processes vast amounts of information, offers real-time insights, and helps Tony make quick, informed decisions, AI in business processes data, provides valuable insights, and supports decision-making.
Dashboards help you:
- Monitor KPIs in real time: Instantly see if your business is hitting its targets.
- Identify trends: Spot patterns in customer behavior or market shifts.
- Improve efficiency: Quickly pinpoint areas that need attention.
- Automate insights: Use AI to automatically highlight key data points and trends.
Here are leading AI-powered dashboard tools:
- Qlik Sense: Renowned for its powerful data integration capabilities and AI-driven analytics, Qlik Sense allows for dynamic, interactive dashboards that help you discover insights quickly.
- Looker: Part of Google Cloud, Looker offers robust data exploration and visualization features, integrating seamlessly with various data sources and using AI to enhance data analysis.
- Power BI: Microsoft’s offering integrates seamlessly with other Office products, making it a favorite for businesses already in the Microsoft ecosystem.
- SAP BusinessObjects: Known for its enterprise-level reporting and analytics, SAP BusinessObjects integrates AI to provide advanced insights and predictive analytics.
TRENDS: Data-Driven Insights
Trend #1: Automated Decision Making
By 2025, 95% of decision-making that currently uses data will be partially automated.
Key Takeaway: This underscores the growing importance of automation in enhancing speed and accuracy in data-driven decisions, allowing businesses to focus on strategic planning and innovation.
Trend #2: Data Increase Decision Quality
80% of enterprise leaders agree that access to data improves their decision-making.
Key Takeaway: Access to data has a direct impact on the quality and effectiveness of business decision-making, emphasising the need for robust data infrastructures and analytics tools.
Trend #3: Data-Based Storytelling
Stories are 22 times more memorable than facts alone.
Key Takeaway: Data-based storytelling can be leveraged to compound influence with key accounts and decision-makers through better understanding, retention and, ultimately, satisfaction.
TACTICS: From Theory to Action
Tactic #1: Do It Yourself
Use tools like Qlik Sense, Looker, Power BI, SAP BusinessObjects to create custom dashboards tailored to your business needs.
Steps:
- Identify Key Metrics: Determine which metrics are most important for your business goals.
- Choose Your Tool: Select a dashboard tool that fits your needs and budget.
- Integrate Data Sources: Connect your data sources (e.g., CRM, financial software) to the dashboard.
- Design Your Dashboard: Use templates or start from scratch to design a dashboard that highlights your key metrics.
- Analyze and Act: Regularly review your dashboard to make informed decisions and adjustments.
Resources:
- Qlick Sense- Qlick Training
- Looker- Google Cloud Skills Boost
- Power BI- Learn Power BI
- SAP Business Objects- Udemy Course
Tactic #2: Done For You
Engage a full-service custom software development company leveraging dashboards, like Yobi Code, to build and maintain your applications.
Steps:
- Define Requirements: Clearly outline your automation and application development needs with Yobi Code.
- Design, Develop and Deliver: Yobi Code handles the entire development process, from initial design to deployment.
- Ongoing Support: Benefit from ongoing maintenance and updates to ensure your applications remain effective and up-to-date.