One of the most awkward moments of my career was during an internal strategy session in my company hosted by a top-level CEO. He asked our top BI pre-sales expert to explain the business value of Business Intelligence in 30 seconds – the elevator pitch. After 3 minutes of explaining how data is transformed into an overview, our host cut him off and said: “Yes, that all very good, but what value does it give me? How does that give me more profit?” Our pre-sales expert was dumbfounded, unable to give an answer.
After this wakeup call, I began observing the marketing of our colleagues in the Business Intelligence industry, and I realized that everybody is marketing their Business Intelligence solutions from a functionality perspective. If you go to their webpage, or see their commercials, you can see messages such as:
- Complicated Data. Easy Analytics
- Visualize your data. Find insight that matter
- All your data in one place
- Information is empowering
- The easiest Business Intelligence tool on the web
- Support your business processes with analytics. Make well-founded decisions with best-in-class business intelligence software.
These messages can typically be divided into two categories:
- Irrelevant: The tool is great, but what should the business use it for? Analytics by itself serves no purpose, unless it can improve the business.
- Offensive: The business managers are making lots of daily decisions. They are driving and improving the revenue and profit of their business. Are you saying they are bad at it?
None of these messages say anything about which issues they can solve in your business.
The problem is that the BI marketplace is basically a DIY shop, where the different BI vendors produce wood, hammers and nails. Each BI vendor will tell you that they have best wood, the cheapest nails or the fastest hammers. But who cares about how “fast” a hammer is? Besides wondering how you really can make one hammer “faster” than another, it is uninteresting to anyone but the craftsman or the technician. If you need to rest, and want a comfortable couch, you don’t care about the materials or tools used to build it. You care about the quality and the price you have to pay for it.
For many businesses, when they are looking for a comfortable place to sit (or to run their business better), they are presented with some really expensive materials, which have to be put together by some even more expensive craftsmen or technicians. Then they will ask you to specify how to put it together to fit your specific seating preferences – ending up with some really abstract chairs that are anything but comfortable!
So in the end, you end up using a lot of money on materials, even more money on craftsmen and you still have to use a lot of effort and time telling them what you want and need in order to run your business better.
In our analogy above, MoreReporting is a furniture store, where we have used our own wood, hammers and nails to put together a complete and finished solution that instantly helps you run your business better.
The out-of-the-box dashboards and functionality in MoreReporting solve issues such as:
- A Basic overview of your company’s performance: Revenue, expenses, profit and cash flow.
- Why doesn’t my profit increase when my revenue increases?
- Notifications if one of my suppliers raises prices without my knowledge.
- Which of my expenses has increased the most?
- I need financing and my bank or investor requires a budget. With MoreReporting I can create a budget within 5 minutes, and get the operational, status and liquidity budget I require.
- Constant account monitoring with notifications if something strange happens.
The best part about it? Because the entire solution is automated, it is much cheaper than the solutions that only deliver wood, hammers and nails.