How to simplify decision making in companies?

A wrong decision can compromise the success of a business. It is vital that managers have all the tools they need to make informed and right decisions. The market is increasingly competitive and consumers are becoming more demanding and these two factors make it difficult to make the right decision. In today’s article, we will realize how we can simplify decision making in companies!

Correctly identify the problem that needs to be resolved

Decision making, in most situations, is aimed at solving a business problem. Thus, in order for the best decision to be made, it is necessary to identify its origin and list all possible solutions. This step seems basic but is one of the most important and one of the most underestimated. Deep analysis of the situation will give us the data we need to know which path to choose.

Real-time monitoring software

It is very important to have a real-time business monitoring system that allows you to set business alerts so that you are advised whenever any important situation requires immediate intervention. Multipeers is a BAM system that allows you to define business alerts that warn you whenever a situation requires your attention. In this way, you will always be aware of the events of your business and will be able to decide in good time. Many of the decisions are made based on reports a few days late, which makes the company have a reactive and non-proactive action. With Multipeers you will be able to always be ahead of the competition and decide the best way possible for the business.

Define KPIs (and monitor them)

The KPIs is related to the previous point. A KPI – performance indicator – is a value that demonstrates whether the company is achieving its key objectives and whether it is on track. The company must have well-defined general KPIs. Likewise, each department and employee must know their KPIs so that they can work towards their goals and help the company grow. “If we do not know where we are going any way”: it is essential that each employee knows his role in the company so that he can guide his daily work in order to achieve all his goals.

Evaluate all options and ask your team to collaborate

Before making a decision, the manager must identify and analyze in detail all available alternatives. The same problem can have several solutions and the manager should rely on the help of his team to choose the best way forward. In this way, not only does the company win, everyone’s opinion will certainly be better than that of a single person, as employees will feel more motivated because they feel that they are an integral part of the process.

Analyzing data in real time is increasingly a reality in companies around the world. Business happens at a very fast pace and it is essential that you know what is happening in your company to make the most appropriate decisions for your business.

Get to know the advantages of the BAM system and learn how these tools can help your business!

10 Advantages of real-time analysis for business

Companies can no longer survive if they are not always aware of everything that goes on in the business and in its market. The need for real-time information has triggered the use of BAM systems such as Multipeers, because through these tools it is possible to follow in a single dashboard everything that goes on in the business and still set up business alerts that warn the user whenever something comes out of its previously defined standard. In today’s article, we present 10 advantages of real-time analysis for business!

Better Business Decisions

When the manager knows exactly what is going on in the business, it is much easier to make the right decision. Analyzing the real-time business allows you to have all the inputs you need to consciously decide on the best route to take. The reports with a few days present outdated information, which no longer corresponds to the actual state of the company at that time. Therefore, often the decisions made are mismatched and do not benefit the business.

Faster identification of business opportunities

With real-time analytics you can identify opportunities at the moment they appear, allowing you to stay one step ahead of the competition. A change in demand for a product, for example, could lead you to launch a specific campaign, which will increase sales and improve overall results.

More efficient management of human resources

Real-time information about the company’s human resources can be a great competitive advantage for companies that want to adapt to change faster. The monitoring systems provide immediate data on the distribution of employees in different sectors of the company, as well as updated information on their availability. This makes team management much more efficient.

Setting alerts to act immediately

Business monitoring software like Multipeers allows you to set up business alerts. Wherever you are, you will be notified by SMS or email about any changes to your previously set standards and you can act immediately, even before there is any harm to the organization. This proves to be a huge competitive advantage because it enables immediate action.

Use various data sources

With the use of a system of analysis in real time it is possible to aggregate in a single system all the information relative to the company. In this way, access to information becomes much easier and intuitive, reducing the time previously spent to gather information from various sources. The manager will make life easier and will be able to act more quickly.

Early detection in productive processes

A failure in the production process can mean serious problems with customers, suppliers and partners if it is not detected and corrected in time. Monitoring the production process in real time allows identifying any faults and their correction. In this way, any deviations will be corrected in a timely manner and will avoid major problems for the company.

In-depth knowledge about customers

With the use of tools that make it possible to analyze the data in real time, it is possible to immediately perceive the client’s preferred medium, its needs and the problems it presents. This information guarantees a more personalized service and according to what the customer really needs.

Makes business processes more agile

As real-time information management programs present the information in a condensed and ready-to-analyze form, the need to make extensive reports will disappear. In this way, employees who previously had this responsibility will have more time available for other tasks, which will certainly contribute to an increase in productivity. Real-time analysis eliminates more bureaucratic tasks, which makes the company more agile.

Reducing the risk of making mistakes

The use of real-time data analysis systems reduces communication failures and accelerates data consolidation. All company information will only be in one location, which makes analytical processes more agile and effective. Thus, the probability of communication failure becomes very low, which contributes to more assertive decision making.

Consulting business information from anywhere

Almost all real-time information management programs present the possibility of being used on mobile devices. Therefore, it is possible to be in a meeting or a trip and have real and updated information about the state of the business. This is a very important advantage, as more and more your business is where you are, so it is essential that you always have access to the most current information about your company!

 

Analyzing data in real time is increasingly a reality in companies around the world. Business happens at a very fast pace and it is essential that you know what is happening in your company to make the most appropriate decisions for your business. Download our e-book and learn how a BAM tool can help your management!

Everything you need to know about ROI

All companies aim to make a profit and reduce expenses. Throughout a year of work, several investments are made with the purpose of obtaining financial gains. However, when it comes to investing in some stock, we are not sure if we will get the desired return, so there is always a risk associated with all the decisions. ROI – return on investment – is a very important concept for companies and in today’s article we’ll cover everything you need to know about ROI!

What is ROI?

ROI is the acronym for return on investment. This value represents the profit obtained after a certain investment and is commonly used in the evaluation of operational investments, such as acquisition of equipment, computer equipment, participation in events and marketing actions.

How to calculate ROI?

The formula for calculating ROI is very simple:

ROI = ((Revenue – Costs) / Costs) * 100

When calculating a return on investment, only costs and income related to the investment should be included, not the overall results of the company. The following example shows us how ROI applies in practice: a company will participate in a marketing event that costs € 10,000. During the event, they will generate leads that will become customers and in the next 5 years these customers will make a profit of € 20,000 to the company. The return in this case is 100%.

Advantages of calculating ROI

One of the main advantages of this calculation is the reduction of expenses and the increase of profit. It is essential to calculate the return on all actions performed, because only then managers can realize what actions result and which do not add value to the company. Thus, the company will be able to eliminate the investments that generate only expense. However, it must be borne in mind that some investments generate profit only after a considerable period of time. The manager must evaluate all the repercussions of the investment not only in the immediate but also in the long term.

The calculation of the ROI allows to improve progressively, because the company is able to follow the evolution of the investments, identifying standards and allowing to improve its performance. More than identifying the importance of each investment, the calculation of ROI also contributes to a positive evolution of the business.

Calculating this figure allows managers to make decisions faster because they often follow the status of the company and its investments. In this way, when choosing a particular investment, they will know the history of past actions and feel safer to decide.

It is increasingly important to keep track of the state of the business in real time as the markets are increasingly competitive. Multipeers is a BAM tool that allows you to track everything that goes on in your business through the connection to the information systems you use. Through a simple and intuitive dashboard, you’ll be able to instantly see what’s happening so you can make the best decisions for the future of your business!

[Free e-book] BAM: The importance of real-time information for meeting objectives

The business world works at an extremely fast pace, which means that it is imperative to be constantly updated about what is happening in organizations, otherwise you will lose business opportunities and won’t detect problems in a timely manner. The globalization of access to information and the constant development of information technologies have contributed to the existence of products such as Multipeers. Capturing data for the creation of dashboards where the current state of a company is found is increasingly necessary for the control of operations and consequent maximization of results.

Why is it necessary to act in real time?

Markets are becoming more competitive and consumers, as they are more informed than before, are increasingly demanding and are looking for solutions in a practical and fast way. Nowadays, everyone “lives running” so that acting late in the business sector can lead to irreversible losses in profits and competitiveness. A company that makes its decisions based on reports with a few days will always have a reactive and non-proactive presence.

What is a BAM system?

A BAM tool consists of monitoring the company’s business processes through management indicators. Managers track all processes in real time through a simple and intuitive dashboard that can be defined as the global management cockpit of the company or organization. Through the implementation of a BAM system, managers can cross performance information and through this crossing can find production failures, for example, and act immediately, ensuring that these failures will not have harmful consequences.

Multipeers as a BAM system

In most companies, decision-making is based on reports, intranets, and e-mails that require the user to search for information. Due to this reality, many companies lost business opportunities because they didn’t have timely information. Likewise, on many occasions decisions have been made on the basis of outdated information, rendering them ineffective and wrong.

To combat this difficulty, Multipeers comes with the objective of delivering relevant information about the business in real time directly to their devices (desktop, tablet or smartphone). By using Multipeers, you don’t need to spend time looking for information, making processes and decision making much more agile and effective. In a simplified way, Multipeers assumes itself as a global, automated and real-time management cockpit.

Download the ebook “BAM: The Importance of Real-Time Information to Achieve Goals” and find all you need to know about business monitoring and meeting goals!

BAM: find the key benefits of business activity monitoring

According to Gartner, BAM – the acronym for business activity monitoring – is the set of processes and technologies that aim to improve the analysis of the state of the business based on real-time information. BAM is used to increase the effectiveness of the business and to obtain all the data to make the best decisions. In this article, we present you the main advantages of using a monitoring system for your business!

Real-time information

Business life happens now, every moment, and it is essential that you know what is going on with your business. Decisions based on a few days’ reporting are always reactive and risk being overtaken by faster competition to act. Knowing everything that goes on in real time with your business is essential so that you can make timely decisions and have a proactive stance in the market.

Central management

BAM software allows a solid administration platform capable of collecting data from a wide variety of sources. So you can get all the information you need to decide in a convenient way in one place. With a BAM tool you can say goodbye to reports dispersed all over the places because you will find all the information about the company in one place.

Eliminates manual processes

Manual processes are more susceptible to errors than automated ones. By using a BAM tool such as Multipeers, you can free employees for other tasks and you can automate more repetitive and annoying tasks. This ensures that there is no need to constantly update data and consult reports. Everything is previously defined by itself and nothing will fail. The more automated steps, the more time you will have to focus on other important things to improve the business.

No need for clicks

BAM tools update permanently and automatically, so there is no need for user intervention. Instead of being the user looking for the information, it is the information that, in an autonomous way, finds the user.

Facilitates decision making

BAM tools make decision making more effective because they prevent errors from occurring since they eliminate the need to collect data from many platforms. As they have a simple and interactive interface, all information is presented in a practical and interactive way, providing all the information in one place, giving the manager all the data he needs to make the right decisions.

 

Analyzing data in real time is increasingly a reality in companies around the world. Business is happening at a very fast pace and it is essential that you know what is happening in your company to make the most appropriate decisions for your business. Multipeers is a growing need in today’s business world. Download our ebook at this link and get to know everything you need to know about BAM!