Tue. Jul 5th, 2022

Are you buried under tons of paperwork and just don’t know where to begin? Are you spending more time doing the paperwork than running the business?

Does you current business data management system provide ready access to your business data and perform the analysis necessary to make informed business decisions?

These may seem like simple, basic questions but in many small and medium-sized businesses they’re going unasked. What does this mean to the bottom line of your business?

Business data management is paramount to making your business profitable and successful. Making your details and data are hard as you do, and turning it in to an asset click over here rather than a liability, will give you the edge over your competitors. Effective business data management could be the key to the business success that you have been looking for.

The HOW TO of Business Data Management

All businesses today generate and need access to a lot of information and data, a lot of which is critical to the efficient and profitable operation of the business. Information like customer contact details and sales data, appointment scheduling, stock control or managing production flow and financial records is the life-blood of any business. It needs to be managed effectively to get the most from it.

Just the process of collecting and recording business information can take a great deal of your staff’s time, and therefore your money. Just as important as collecting business data is HOW it is managed and used. Several hours can go into recording business data, and just as many of those hours can be wasted if the information is not stored in a manner that provides ready access or analysis of the information its full of. Obviously, recording business information on random notes or even in structured text documents such as Word is preferable to nothing. But information stored this way is difficult to track and even more difficult to search. Performing any meaningful analysis on large amounts of data stored in this fashion is virtually impossible.

Using spreadsheets, such as Microsoft’s Shine program, will provide access to structured information as well as the capacity to perform some effective business analysis over small subsets of data. However filling out spreadsheets and keeping them up-to-date can be a time consuming task. And what do you do when you have voluminous amounts of data that you want to study for trends, or work from home opportunities. Unlike listings, spreadsheets are limited in the number of records they can change and rarely provided the correlation between disparate data holdings that is required to perform meaningful analysis.

Making the most of your business Information

I think we all can agree that proper business information management is an important factor of effective business management and may be a core consideration in ensuring the success of your business.

As you have in all probability awakened to the fact by now, using hand written notes, document files and even spreadsheets may not be the most efficient method to manage and make the most of your business information. In fact, when you take in to account the time and effort necessary to collect and store the information, collate it, and then try to sound right of what it all means, you have likely come to in conclusion that unstructured business data is costing your business not only tens of thousands of dollars in time and resources handling the information, but also many thousands of dollars in missed opportunities that proper analysis of these data could have identified.

For the efficient and effective management of business information you really require a database. Listings provide significant advantages over other styles of information capture, storage, access and analysis. More importantly a database enables rapid access to any data held within the database through sophisticated, and yet in most cases easy to use, search functionality. Most database systems today handle virtually any size data-set, be it large or small, and have the ability to perform tasks as simple as ‘Customer Relationship’, ‘Inventory Management’ or ‘Asset Management’, right through to the more complicated sales and/or trend analysis, across ten or even hundreds of thousands of individual records.

Perhaps just as important is the ability of relational listings, such as the Microsof company Access database, to vastly decrease the time and effort required to collect the data. With functionality such as data scan, default field values, lookup tables, drop-down lists and the ability to enter common data (which may be used often across 1000s of records) only once, they can significantly reduce the time and effort required to collect and store information.

By admin

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