When a search to fill a technical position has resulted in finding the candidate that fits your firm’s skill requirements and culture, how can you be sure your offer will effectively compensate this qualified candidate? Offer too little, and you will either lose the candidate or de-motivate the new associate or your firm will be vulnerable to a relentlessly demanding technical labor market. Pay too much, and your budget is under pressure. If this decision is handled poorly, it may also introduce salary compression issues that de-stabilize the existing team members.
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In the Brothers Grimm fairy tale “Rumpelstiltskin,” a poor miller’s daughter was able to spin ordinary straw into gold. In many ways, business data is similar in nature: a series of ordinary tables contain rows and columns of data representing business entities, objects, transactions, interactions, numbers, dates and other bits of information that can be transformed into something of value to your business.
Today’s customer expects strong, consistent service and quick responses. Research found that 76 percent of respondents believe customer service quality is the best test to determine how much a company values them. If you don’t track service metrics and baselines, how can your customer service team increase its effectiveness and service? A recent survey found 47 percent of customers surveyed rated the most important element in their service experience as “fast response to inquiries or complaints.”
Your company invests in a Customer Relationship Management (CRM) system. It works diligently to have the system implemented and adopted across the entire company and ensure effective usage. However, if your team is not consistently keeping the Lead, Account, Contact, Opportunity and Service Ticket data clean for continued use, your firm is missing out on the benefits of CRM.
You invested in a Customer Relationship Management (CRM) system and have been diligent in getting the system implemented and adopted across the entire company. However, if your team is not consistently keeping the Lead, Account, Contact, Opportunity and Service Ticket data clean, you are likely missing out on the benefits of having a CRM system to begin with. How?
Your BI is working, and it’s probably working well. But, continuing to empower your colleagues with data is going to be ever more challenging in a world of rapidly increasing data volumes, security risks, and data diversity.
Cloud platforms like AWS can help remove some of that complexity, allowing you to leverage their infrastructure as you scale and grow. Running Tableau Server on AWS ensures the continued, scalable success of your business intelligence for years to come.
What if you had a secret weapon? A tool that could tell you if a decision was smart before it was made or pointed you in a positive direction? You wouldn’t leave home without it. It would not leave your side. That tool does exist for businesses, with the proper support and training. It is your company’s own data. Your company can hone in on what its data can reveal to not only help you understand your past but, more importantly, to shed some light on your future.
The foundation of any business is composed of three things: the products/services offered, the people who keep the company running and the data that demonstrates past decisions and supports future decisions. Data is the backbone of every business. It is filled with useful nuggets of information, detailing past business trends, successes (and failures) and opportunities for growth moving forward. The data can assist your business in many ways, including in the development of new offerings, boosting total revenue and better managing your company’s costs.