Creating a 360-degree view of a business is dependent on access to comprehensive, historical, and real-time business data. Additionally, having a way to interpret and visualize that data so it is meaningful to the decision maker is necessary. Business leaders must understand the value of a 360-degree perspective and the difference it can make in their organization.

Unlock a 360-degree view of your business with data management

It is challenging to achieve a 360-degree view of your business today without modern, cloud-based software. Yesterday’s approach to data management worked in the past. This is because organizations were not generating “enough” data from “enough” sources to overwhelm business systems or IT teams. Back then, it was manageable, but that was before today’s “Big Data.”

Deloitte reports that 90% of the world’s data was created in the last two years alone. Organizations need a way to manage this information, use what is needed, and deliver insights to decision makers. The computing power required to achieve this feat can be found in the cloud. Therefore, it is easy to see why more and more companies are changing their approach to handling data. Additionally, businesses are adopting cloud technology for significant pieces of their business.

Cloud-based software is developed to help manage volumes of data and accommodate more data as it is generated from existing and even new sources. This ranges from the enterprise resource planning (ERP) and customer relationship management (CRM) systems that collect, store, and analyze data to the business intelligence (BI) tools that bring advanced reporting and beautiful visualizations.

Make data-backed decisions with a 360-degree view of your organization

A 360-degree view lets you see everything. It is far-reaching, including financial, operational, and customer data from various, disparate sources. Decisions can be based on the full picture rather than assumptions or gut instinct. Further, a more comprehensive set of data points can be pieced together to uncover business drivers and bottlenecks. As a result, leaders have a better understanding of challenges and opportunities and can react accordingly with more confidence.

Understand when and where to optimize

These data-backed decisions may impact the back office or factory floor. Production environments, particularly those run using a lean methodology, are consistently optimized for efficiency to reduce waste, make the most of resources, and improve profitability. Data is required to uncover areas for continuous improvement. This process inherently depends on a 360-degree view, but the optimization does not stop there. Even processes in marketing and sales, for example, can be improved with the right metrics.

Achieving a 360-degree customer view

Having a 360-degree view of customers has become increasingly important in today’s competitive marketplaces, even in B2B markets. Being able to piece together a full profile of each customer and what makes them “tick” using demographic and behavioral data, for starters, is necessary for effective marketing and sales. Targeting customers with the right offers at the right time and serving them quickly and conveniently over a range of communication channels is essential. It is also impossible without the right, comprehensive data sets that point to opportunities to extend their lifetime value.

Become agile and forward-thinking with Citrin Cooperman

An organization cannot be truly innovative if its data and processes are fragmented, not centralized, and not accessible at any time. This is another reason companies are embracing cloud computing and the modern ERP, CRM, and BI solutions that integrate data and make it usable by decision-makers in real time from any connected device.

Citrin Cooperman’s Digital Services Practice provides effective solutions to manage companies’ data and processes in the cloud, bringing 360-degree business visibility to decision-makers. To learn more about how our team can help you access a 360-degree view of your business to achieve your strategic goals, reach out to your Citrin Cooperman advisor or sales@citrincooperman.com.