7 management tips for all businesses

Some management tips are universal regardless of company size. It is important that managers are always aware of market trends and the needs of their customers, so that they can constantly adapt to the reality where they are inserted. In today’s article, we leave you 7 valuable tips to better manage your company!

Get to know the market and your customers

It sounds like a very basic tip and that everyone knows, but the truth is that it is here where many companies fail. It is crucial that companies are well aware of the market they are in, so they will not be surprised by unexpected fluctuations. Likewise, it is imperative that companies know well what the public is communicating and that they know the specifics of their target audience. Only in this way can you create a message that meets the needs of the target.

Always know everything about your business

To understand one hundred percent what you do and to know at every moment the state of the business is essential for it to have good results. A good option to stay abreast of what is happening with your business is to use a real-time monitoring tool such as Multipeers, as you will be able to find all the information about all areas of the company in a single dashboard.

Keep your focus on the Customer

The Customer is the most important of your business and it is up to him to work. Nowadays, consumers are much more demanding than in the past and are more informed, which means that they must make a greater effort to meet all their needs. Maintain communication channels across platforms and be concerned to address all your needs. Only in this way can you gain loyalty.

Set Goals

If you do not know where you are going, any way is good. It is very important to establish goals and work as a team in order to reach them. The objectives must be measurable and realistic, otherwise they will only contribute to demotivating employees.

Invest in internal communication

Internal communication is often neglected, but it is one of the most important areas in a company because it deals with the main public of an organization: its human resources. It is important that there is fluidity in the transmission of messages, as well as transparency in the work environment. It is essential to implement business management channels and / or applications that facilitate communication between the various departments.

Use the PDCA cycle

PDCA means plan, do, check and act. It is a management technique linked to the improvement of a company’s processes. Its purpose is to solve problems, pointing out the causes for potential deviations and productive failures. This process makes the organization of the company more efficient in the long run and it is essential that it be applied from the moment of creation of a business, so that the improvement can be continuous.

Use an ERP

ERP management systems are used to improve the management of business resources and relate the data and processes in one place. Through the use of tools of this type, it is possible to integrate all sectors of the company so that the decision making is easier and more objective. The use of an ERP also allows the reduction of non-strategic costs and the creation of a greater competitive advantage.

 

Get to know the 4 types of Data Analytics and find how to use them in your business

It is no longer surprising that companies deal with a large amount of data, which makes it difficult to analyze them and consequently make decisions. It is now necessary to cross-reference data from a variety of data sources, gain insights, and analyze consumer and market information. In today’s article, we’ll cover the 4 types of Data Analytics that you can (and should) use in your business!

Descriptive analysis

This type of Data Analytics answers the question “what is happening now?”. Through the response, companies can analyze data on customer losses, sales for a particular product, and the outcome of launched campaigns. Descriptive analysis allows immediate decisions to be made with a high level of security, since the analysis is based on concrete and current data. The information coming from this type of analysis is usually displayed in graphs and tables, which allows the manager to have an overview of the processes monitored.

Predictive Analysis

Predictive analytics is an advanced form of Data Analytics that aims to answer the question “what will happen?”. It is a type of analysis that makes predictions through probabilities. This analysis is possible thanks to techniques like regression and progression analysis, pattern matching and various types of statistics. This type of Data Analytics is widely used in stock market and investment companies.

Diagnostic analysis

Diagnostic analysis will explain why something happened. This type of analysis will relate all available data and information to find patterns of behavior that may explain the results. It is an important analysis to find problems and above all to avoid repeating them in the future.

Prescriptive analysis

The prescriptive analysis is the analysis of premonition. It answers the question “what could happen if we take this action?”. This type of analysis is very important especially in the sales area. For example, “if we think about giving a 15% discount next month on the company’s lesser-selling product, the likelihood of increased sales is 40%”. The prescriptive analysis raises hypotheses about possible results of actions taken by the company. It is an essential analysis for managers, as it helps them to evaluate the best way to choose a certain strategy to solve a problem.

 

Analyzing the data is essential to meet the constant challenges of today’s competitive business world. It is no longer enough to analyze the events after these have happened: it is essential to always be aware of what is happening at each moment. Business monitoring systems such as Multipeers are essential tools in today’s business world because they allow us to analyze the second thing that is happening in the company, allowing you to act immediately without having serious consequences.

Real-time marketing strategies for your business success

Consumers are increasingly demanding and less patient: they want to find solutions and want to find them now! Nowadays, it is no longer enough to launch good content or a good marketing campaign: you have to be the first to have the idea that will solve the problems of consumers and offer something really different. The “now” is the trend of the moment and because of this rush to have solutions come up concepts such as real-time marketing. In today’s article, we are going to talk about real-time marketing strategies for the success of your business.

Events

An event launching a product with real-time monitoring of consumers’ opinions on social media is a great way to find out how much people are receptive to the new offering. It is no longer enough to make a report after the event happens. It is necessary to accompany the second what consumers are thinking about the new product in order to fine-tune strategies.

Location-based advertising

Nowadays, many companies already advertise their services based on location. Through the GPS system, consumers receive information about restaurants, hairdressers and other services near the area where they are. In this way, it is much easier to get the attention of potential customers because they are in the vicinity of the service.

Analysis of consumption forecast

This strategy is widely used in e-commerce. Anyone who enters into online stores realizes that there is an intelligence behind that tells us related or complementary products regarding our searches. The goal of this real-time marketing strategy is to conduct cross selling and increase the average value of the purchase. Process automation, integration with databases and analysis of these data are essential tools for implementing this strategy.

Real-time data analysis

Launching campaigns and promotions is important to promote products and brands, but if there is no real follow-up in real time it is not possible to take the insights needed to make decisions. BAM tools like Multipeers are imperative in today’s business reality, as they allow you to analyze in real time what goes on in each of the business areas. Through a simple, informative dashboard, you can see if a product’s sales are increasing because of a specific campaign.

BI and BAM: understand the difference between these two concepts

BI and BAM are terms that are very present in most companies. They are not necessarily independent terms, but neither the two tools are required to operate simultaneously in the same company: each is independent. There are still many doubts about the difference between these two terms and in today’s article we will talk about the main differences between BI and BAM.

What is a BAM system?

BAM stands for Business Activity Monitoring and is a tool that defines the process and technologies to be able to put information about the company’s KPIs in real time on a dashboard. What BAM does is only show in one place all the information coming from the most varied sources of data of the company, eliminating the need to consult several databases to know what is happening in the company at that time.

What is Business Intelligence?

BI is a technique that helps managers plan the company’s strategy by collecting and analyzing a large volume of data to understand the company’s performance and from there to decide more consciously about the future.

Relationship and differences between BI and BAM

Business monitoring tools facilitate the process of extracting information and making conscious and thoughtful operational decisions. Both tools use information to improve performance. The data analysis that the BAM tools provide is very efficient because it presents the information in a simple and concise way, allowing the manager to quickly be informed about the actual and current state of the business.

Unlike Business Intelligence, BAM systems don’t talk about past or future: they focus only on the present. The BAM system will integrate all the company information in one place so that the data can be consulted anytime, anywhere. BI will add an analytical culture across all sectors of the business so that everyone is aware of the state of the business. Real-time updated and analyzed information will provide improvements across all sectors of the organization.

 

These two concepts work very well if applied together in the company, so that you can understand all the information of your business in a simple way. The life of your company happens now and you must know at every moment what is going on with the business. Likewise, you must equip yourself with the right tools so that you can make the most appropriate decisions for the future!

5 Tips to Make Your Business Smarter

Get-together data, analyzing them and applying them in business correctly is synonymous with having a smarter business. Technology is an indispensable resource to make the business smarter and more agile. Only with the use of technology you can follow everything that goes on in the company and make the right decisions for business continuity. In today’s article, we will leave you 5 important tips to make your business smarter.

Analyze the data

We live in the information age and this is nothing new to anyone. Whoever analyzes the data correctly is one step ahead of the competition as it is able to anticipate trends and predict market fluctuations. Big Data and Analytics are increasingly used in companies around the world, because they are tools that allow you to analyze the data for the most diverse purposes. Tools like Multipeers are increasingly needed in business as they allow you to analyze business information in real time.

Cloud Storage

Companies today are forced to have greater flexibility to access their documents even outside the workplace. Cloud storage is a widely used option today as it allows people to access and edit documents from anywhere in the World, with an Internet access.

Data security

Information security has never been as important as it is now, especially at a time when the new general data protection regulation is just in place. Computer attacks are becoming more frequent and sophisticated, so companies must equip themselves with the right tools to protect their information. Companies should educate employees so they are aware of the need to protect data and must have demanding data backup policies so they can recover their information even in the event of a disaster.

Automation of tasks

Business intelligence is constantly looking for automate tasks so that employees are available for other functions that cannot be accomplished using technology. Companies can adopt a Business Process Management (BPM) system in order to automate tasks and information flows. CRM is a tool that can also be adopted by companies, since it improves customer service processes. In addition to faster execution of tasks, the automation of tasks greatly reduces the likelihood of human error.

Financial management

The appropriate technological tools allow the company to identify points of improvement in its management and to eliminate wasted resources. It is essential that there be a good financial management, because only this is the continuity of the business is guaranteed. Software that integrates information across all departments will make decision processes more agile and more effective, as there is in-depth knowledge about the real state of the business.

Do you know what Fog Computing is?

Storage methods evolve daily, with the goal of becoming more dynamic and efficient. After Cloud Computing comes the term Fog Computing, a differential factor to apply with the concept of Internet of Things. With this new technology, much has been researched on the methods of correctly performing the process and treatment of all the generated data. Fog Computing plays a very important role in this process and in today’s article we will explain everything about this new method of storage!

What is Fog Computing?

Imagine a smart city where there is a smart traffic camera that detects the pattern of lights from an ambulance and immediately sends that information to the traffic lights so they can be opened so the ambulance can pass. If this information has to be processed and sent to the Cloud and then sent to the semaphore, there is a waste of time that can be crucial. Fog Computing is about saving traffic and sending time to the cloud, making it possible to directly process the equipment, without the need to send information to the Cloud.

Fog Computing works in the same way as Cloud, but is closer to users and equipment, speeding up processes and reducing network traffic, especially in environments that don’t have high bandwidth. Fog Computing mainly facilitates the processing of the Internet data of Things. Fog Computing aims to increase the capacity of the computer and storage in the cloud across the network. Fog Computing is an intermediate layer between Cloud and hardware, which enables more efficient processing, analysis and storage of data.

Fog Computing and Internet of Things

According to the Business Insider, by 2021 almost 6 trillion dollars will be invested in the global marketplace in Internet of Things. This means that if these numbers happen, the current Cloud Computing systems will not be able to handle the full volume of data, and it is necessary to use add-ins. And that’s where Fog Computing comes in. In this new reality, it is necessary to establish processes that precede Cloud Computing, that manage and analyze the environment so that they store what is really necessary and important, so that there are quicker answers to certain questions.

 

Fog Computing offers a combination of increased computing power, increased storage capacity and services on the network and intends to address and resolve any limitations of Cloud Computing. Basically, the great goal of this term that is now emerging is to deal with the data that is created on a daily basis.

5 reasons to implement real-time monitoring in your business

Business is happening at a very fast pace today, which forces managers to monitor in real time everything that happens in companies. Nowadays, it is no longer advisable to only analyze reports with a few days: the market demands that you be always aware of what happens in your business. In today’s article, we’ll give you 5 reasons to implement real-time business monitoring!

More efficient decisions

If you know exactly what is going on in your business, it will be easier to make the right decision. Analyzing your business in real time will give you all the inputs you need so that you can consciously decide on the best course to take. The reports with a few days present outdated information, which doesn’t correspond to the actual state of the company at that time. Therefore, often the decisions made are incompatible and don’t benefit the business. Monitoring the business in real time will change this scenario as it will have reliable information in your hand!

Identification of business opportunities

With real-time business monitoring you can identify opportunities at the moment they appear, allowing you to stay one step ahead of the competition. A fluctuation in demand for a product, for example, could lead you to launch a specific campaign, increasing sales and improving company results.

Possibility of alerts

Business monitoring software like Multipeers allows you to set up business alerts whenever there is a deviation from what is considered normal within your company. Wherever you are, you will be notified by SMS or email about any changes and you can act immediately, even before there is damage to the organization.

Better People Management

Real-time information on 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. Thus, it becomes easier to manage teams and optimize the work of employees, increasing the collective income.

Connection to all data sources

Real-time business monitoring software such as Multipeers interact directly with all your data sources such as databases, web services, MDX, Microsoft Excel, RSS feeds, multimedia content, e-mail, applications, among others. You can even build your own connectors using the provided API so that no information from your organization is lost. So, in a single dashboard you will find complete and up-to-date information on everything that goes on in the 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 you manage!

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!

Crisis Management: Preventive Measures to Save Your Business

All companies fear going through periods of crisis. However, they do not always worry about having crisis management plans, because their thinking is “only happens to others.” In fact, all businesses are predisposed to to going through more troubled financial times and it is essential that they have a crisis management plan to eliminate the problem as quickly as possible or to minimize its effects. In today’s article, we introduce preventative actions to save your business!

Analyze data and identify problems

The first step is to recognize that there is a problem that needs to be spoken. It is essential to assess its severity since only this we can determine the urgency of corrective actions. Managers need to constantly analyze available data in order to detect management failures, need to change strategy, diversion of production, and other problems that can lead to a crisis. Identifying mistakes made in the past allows us to avoid the same mistakes in the future.

Have a crisis manual

When a company goes through a period of crisis, it needs to make quick decisions. It is very important that you have a written communication plan that is nothing more than the crisis manual. This document informs about the vulnerabilities of the company, explains how to act and who is the responsible person to communicate in this period. The crisis manual should include releases so that communication in times of trouble is faster.

Do not ignore the situation

If you detect any sign that something is wrong, you must act immediately. Ignoring the situation will only complicate it, which will have more serious consequences in the future. It is necessary to make an early diagnosis and investigate the origin of the problem, because the faster the measures are implemented, the more likely the company has to exit the crisis without great consequences.

Eliminate Unnecessary Spending

It is fundamental that companies are always attentive to all expenses, but at the moment of crisis this attention must be redoubled. Identify the highest and most unnecessary expenditures, the least productive employees, general expenses, travel expenses, among others. Eliminating these expenses in a healthy time of the company will allow crisis situations to be delayed or even eliminated. However, you should also be careful not to eliminate spending that are necessary for the proper functioning of the company, as this can pose an even bigger problem.

Get real-time information

Bad decisions can destroy a business, so it is vital that managers have reliable and up-to-date information. Real-time business monitoring software like Multipeers is increasingly a necessity in business. Only with updated information managers are able to make assertive and effective decisions for the proper functioning of the company. Lack of information is often the biggest responsible for less good times in companies, so it is essential to choose a good business monitoring system.

 

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 you manage!

Find how to deal with changes in consumer behavior in recent years

Consumer behavior: key changes and tricks to deal with it

The consumer has changed a lot in recent times and technology is the main “guilty” of this change. The constant daily access to the Internet has transformed the way we buy and how we relate to brands. Increasingly, today’s consumer seeks to solve their problems quickly and efficiently, which forces companies to keep abreast of new market needs in order to act proactively. Today we are all more demanding, more informed and less patient. In this article we will give you some tips on dealing with changes in consumer behavior in recent years!

Multi-channel Communication

The current consumer is no longer satisfied with a single way of communicating with the company. Given the multiplicity of conversation platforms, customers expect to have several alternatives available to contact the company. As they seek immediate response, they now prefer chatbots, Whatsapp, or any other instant chat platform.

Create empathy

The current consumer likes to be heard and needs to feel that their doubts and complaints have been heard. Listen carefully to what he has to say to you and then repeat what he said in order to get the clear message that you understood his problem. Ask clear and objective questions about what he feels and show him that he is committed to finding solutions. The current consumer wants to be treated as unique and not as another member of a large group.

Offer interesting content

We currently receive dozens of emails per day with the most varied offers. Most of the information we receive is not really useful and its destination is going to the Trash folder. So, many companies spend a lot of time producing campaigns that will not have any return because they don’t care about what their target audience really needs and only focus on the dissemination of their products and services. The trend is to create valuable and really important content for the consumer. Articles about your area of ​​expertise, a news funnel or an e-book are good ways to create a stronger bond with your target consumers. Keep in mind that talking about yourself and your brand will be too egocentric and new consumers will not tolerate such brands.

Clearly define policies

It is essential to know how to proceed if there is a complaint. If you have a clothing store, you must clearly state how the exchange policy works. If you have a company that provides telecommunications services, it should be clear when explaining how to contact technical assistance. Informing the customer of everything is the first step to avoiding problems in the future. In an era in which people share experiences online (especially bad experiences), it is necessary to avoid any situation that may lead to disagreement with the client.

Never make the customer wait

This is our last tip and one of the most important. The current consumer doesn’t allow waiting. He wants an instant response to his problem and it is only with complete knowledge of the market and current needs that companies can effectively respond to situations. Analyzing the business in real time helps you to fully understand the current state of a business. That’s why software like Multipeers gain increasing importance.