How SAS business solutions improve organisational performance
What would your answer be if someone asked you what the most valuable asset to modern organisations is?
Well, the results are out. According to CEOs, data is the most critical and valuable asset to any business, regardless of whether it is a multibillion-dollar tech company or a small family-owned bakery.
Modern businesses are largely dependent on data to make the right decisions. Data-backed decision-making makes modern businesses more efficient than businesses of the past, whose choices relied on nothing more than unscientific instinct and gut feeling.
Any team that doesn’t leverage the power of data analytics, today, is in danger of losing its edge in the market.
Fortunately, there are several tools available for modern businesses to take advantage of the rich reserves of data that are often readily available.
SAS solutions, in particular, help businesses access actionable insights with advanced analytics tools, which are influential in making business decisions that improve organisational performance over time.
SAS business solutions help organisations navigate demand and supply volatility
Demand and supply are two of the most volatile economic forces that any business has to grapple with. Mishandling these forces can lead to lasting impacts on organisational performance.
Restaurants, for example, have to predict demand on a daily basis to be able to react to changes in demand caused by various factors like seasonality, consumer preferences and unexpected events like the current pandemic.
Unfortunately, more than 50% of restaurants do not handle these shocks in demand efficiently and go under fairly quickly.
With predictive analytics tools like SAS, restaurants can predict potential disruptions in demand and be prepared to handle these disruptions, improving their performance.
Data analytics also help businesses handle disturbances in supply as well.
The global semiconductor shortage, for example, forced many companies across various industries to cut down on expected production output. Certain companies, however, were able to foresee the chip shortage in advance thanks to data analytics tools like SAS and prepare more resiliently.
Data analytics can help organisations make better investment decisions
The majority of modern businesses diversify their returns by investing in various investment opportunities and assets. By diversifying returns, it’s easier to mitigate financial risks, which can lead to bankruptcy if they’re not managed.
Before the advent of data analytics, however, business owners relied on their knowledge of market conditions to make investment decisions. Modern analytics tools, however, help businesses choose the most appropriate investment avenues by providing insights on critical factors like the level of risk and return on investment.
These types of data-backed investment decisions ensure the financial agility of modern businesses, allowing them to improve their financial performance in a very flexible manner.
SAS business solutions help organisations offer hyper-personalised services
Most modern organisations offer personalised services to their clients and customers, creating deep, long-lasting relationships.
Did you know, however, that offering personalised services is made easier, efficient and more effective with data analytics?
While it’s true that small businesses offer a certain level of personalisation without the use of data analytics, larger organisations need these insights, through tools like SAS, to create customer profiles, which are critical in creating a personalised customer experience as they contain information like customer preferences.
Using these insights, business teams are able to provide a level of service that is tailored to specific interests and priorities, providing customers and clients with an exceptional buyer experience.
Are you ready to supercharge your performance with the power of SAS business solutions?
Data analytics has become a buzzword for organisations looking to improve their performance and increase their edge in the market.
With petabytes of data readily available for businesses to use, data analytics tools like SAS are helping organisations improve their performance across the board.
Find out how you can use these solutions and insights to change how you do business today.