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Category: Start Home Business

A Manager Guide to Business Intelligence

Posted on March 23, 2020September 24, 2020 by Bella E. Hussain

Business Intelligence
Once you’ve decided your business needs a business intelligence solution, one of the first things you’re going to have to do is procure a tool to actually allow you to implement that solution. Many companies go to venders and they get lots of presentations, although this approach can be productive in giving you a good general knowledge of business intelligence, many businesses find they can get confused and end up focusing on the specifications and applications of the tools they are looking at rather than the over all results and benefits these tools can provide for their business.

Many organizations have large IT departments which have many of the skills required to do business intelligence, but because you’re mixing raw data with high business requirements, IT departments can sometimes struggle to deliver the solutions. Good resources and good people are needed to implement business intelligence in order to have a good knowledge of the technology. Not only do they have to know the business, the tools and the data, but as it’s quite fragmented so they need to know everything from databases to data mining, performance tuning, business intelligence tools development and then presentation layout, how to format good information so people can make better decisions.

It can be very hard to advise on the first type of data an organisation should look at as this will vary depending on the organisation and what your requirements and needs are. As a very general rule of thumb, the finance area is a good place to start, as the data quality in finance is normally very good, it’s well understood and it’s easily accessible. It may also have a lot of your master data, including customer data, your products and the internal organisational structure of your staff. You’ve then got sales information, which again is a fairly easy area to analyse but it adds more value now because you’ve got more customer and contractual information, you’ve got pipe lines and you’ve got activity in your CRM system. Then you may have a separate sales system which may be combined with finance, and you’ve got your operational systems, which are normally more time based like supply chain management and can be more challenging to analyse. To get real value across the enterprise and bring all that information together is where the longer term challenge comes in, you start looking at profitability and what operational activities are taking place and the costs associated by them to what sales revenue you’re generating to what revenue you’re booking and recognising in finance to get customer product profitability.

If successfully implemented, business intelligence solutions should go on indefinitely. If you give out more information to the business, and you make better decisions the business should evolve, which means you will then want different information, and be looking at different things to make the business go even further. However, in reality an open ended solution wouldn’t be feasible, so an average time frame would be three months to deliver the first information to business users.

With the progression of technology and computers getting faster more and more data is being produced, which in turn means there’s a tendency to get more value from analyzing that data. Speed of thought data analysis and visualisation techniques are evolving all the time this means, unfortunately analyzing the data produced from business intelligence is one area most companies fail at, because most people are going to be too busy actually doing their jobs rather than analyzing the influx of data they’re receiving. Business intelligence can actually get the system to do some of the analysis for you, with predictive analytics and data mining the computer can take some of the rules and the logic a human would use to do data analysis and actually analyse it for you and just alert you to the exceptions.

Another area business intelligence is heading towards is capturing more and more through unstructured mechanisms, for example you may have a blog on a website or a complaint management system online, or emails coming from customers through your service centre and all that data is textually based and has some value in it but is not structured, business intelligence can take that data, give it structure and put it along side your other structured data, which then gives that communication additional value and can contribute towards making your data more profitable for your organisation.…

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Importance of Outdoor Advertising

Posted on December 24, 2018September 16, 2020 by Bella E. Hussain

Outdoor Advertising

When it comes to marketing a business most people assume that signs are just about telling others what your business name is. The truth is that outdoor signs do more than just shout out to passers by about your business name. It is an important marketing tool that can bring more business your direction. So here are some other important factors that a great outdoor sign can do for business:

Makes a First Impression

For all walk in customers one of the first things that they see is your signage. They will make a lot of their decisions based on what they initially see. According to studies during those first ninety seconds that they are exposed to your brand image makes or breaks a long term relationship. It can be the deciding factor of whether they step into your shop and see what you have to offer or walk right by. For many it can also be what will make them curious or want to know more in the near future.

Make Them Remember

One of the biggest things that outdoor signs can do is build a mental image in the memory. With a good sign people will be able to recognize your brand or product easily. If you put up a sign that is catchy they will immediately associate the design and logo on it with your business and what it has on offer. No matter where they go or where they see it they will always know what the sign means and that you business is just around the corner, or up those steps.

Make Them Loyal

With outdoor signs customers see your business name and logo day in and day out. This will make them familiar with your business and create reinforced positive emotions. As they continue to be exposed you create an attachment between your brand and their lifestyle. It just becomes natural that they will want to stick with something that they know about and see all the time.

Make You Save

You have to admit that advertising is one of the more pricey aspects in running a business. Outdoor advertising or signs can provide you with a more cost effective solution compared to television or radio spots. For signage you spend the cash once but can use it for years to come. As long as it doesn’t get broken you can count on it to keep promoting your business for you 24/7.

These are just some tips on what outdoor advertising can do for your business. Keep in mind though that the success of your sign will greatly depend on its appearance. A good graphic design service can help you come up with an effective outdoor sign.…

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Starting Up a Home Business

Posted on December 3, 2018September 16, 2020 by Bella E. Hussain

Home Business

There are various ways to have a home business and various reasons to have a home business, maybe you have a child that you have to look after or maybe you have a disability that stops you from going out to work. Quite often these are the cases and getting money off the government is not enough to live your life the way you want so more and more people are looking at ways to earn more money from their situation.
So what would their solution be? Simple, creating a business from the one place that you can only be, home.
So when wanting or needing to work from home, what are the different options one has?

Running a web based business

There is no need to be a expert in anything web related to run a successful business on the web, you don’t even need to know how to build or manage a website. A quick search on Google will bring up companies that will do everything for you, from creating the website to maintaining it, and most companies will do it for free if you accept to have their name somewhere in the web address.

Article writing

Most people think it takes a published author to write articles, but in fact there are actually no special skills involved, not even poor spelling grammar or punctuation could hold you back. There is software that will correct any imperfections that you may have in your piece of writing, again a quick search on Google will pull up lots of software that you can download and use and best of all most of it is free. even I thought it was hard until I gave it a go, but I quickly found that it was good fun and not hard at all

Trading products

Trading is done in its thousands these days and is a very efficient way to make money, the internet is the biggest trading tool and you have it right at your finger tips. so how can you make trading work for you?
Well if you are to make trading successful you will need to do a little research and find out what products people want and need and at what prices they are willing to pay for them. For this a search of the forums devoted to your topic of interest is required.

Once you’ve found a product that is needed and wanted then you also know were to market it, in the forum where the people that want it are! Now all is needed is to find a supplier, this is where search engines like Google come into great use as they supply you with all the businesses you need to contact to get the stock your future customers want.
So as you can see there are ways to make money at home, it just takes a little of your time and to find the right product or companies to help you.…

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Maximizing Value of Industrial Equipment

Posted on September 4, 2017September 17, 2020 by Bella E. Hussain

Industrial

In getting started with an industrial business what you should best be prepared for is the expensive cost of good equipment for industry. It is very important that you purchase the best equipment to use for your business because the outcomes of your products greatly depend on them and it will also most likely determine the profit that you will be getting from your business.

In an industrial business industry there is never just one set of equipment or facility for entire business duration. There is always a need to have the equipment upgraded or changed into a newer model in order for you to come up with better or updated products.

Used industrial equipment

Having used your industrial equipment from the date of its purchase up until its end of life does not necessarily mean that you have already maximized its value. It may still be able to give you a lot more. If your equipment have already reached its end of life or you have simply decided to upgrade them into newer models do not just set them aside and watch them deteriorate. Doing that would be like watching a huge amount of money slip your hands.

You can still maximize the value of your equipment even if they have already reached their end of life or even if you already find them useless for your business. You can have them sold to industrial surplus shops that buy used equipment from industry at very reasonable prices.

You can sell whatever type of industrial equipment you have. You can sell engineering vehicles, band saws, grinders, drills, comparators, boring mills, etc. The reason that most industrial surplus shops prefer buying used equipment to sell is because it is very much in demand especially among those starting businessmen who would like to save on their initial capital.

Sell single industrial equipment

You can sell single industrial equipment or a complete facility; either way would not be a problem. Businessmen who are very much in need of those equipment but do not have much to spend would definitely buy them a lot sooner than you may be expecting.

If you cannot keep the same industrial equipment for the entire business duration, do not just watch them deteriorate. Instead, maximize their value by having them sold in industrial surplus shops and let those new businessmen experience using reliable equipment that have already been tried and tested by you without having to spend a huge amount of money.

Industrial equipment may be very costly and would not let you earn much even if they give you good product results. But if you know how to maximize their value, they are actually a lot cheaper and can even double your profit. You just have to find a reliable industrial surplus shop to sell your old equipment to. Within Houston, Texas area there are several shops that purchase all types of industrial equipment. You just have to do keen canvassing and choose the best that works for you.…

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