The power of Data Analytics & Business Intelligence

Santhosh By  October 4, 2023

Hello amazing business builders!

Imagine you run a small shop selling yummy snacks in a busy street in Chennai. Every day, many people come and go. Some buy a lot, some buy a little. Some buy the same thing every day, some try new things. How do you know what to stock more of? How do you know which snack is everyone’s favourite? This is where Data Analytics and Business Intelligence come in!

Don’t worry, these are big words, but their ideas are super simple. Think of them like a superpower for your business!

What is Data Analytics?

Imagine you have a big diary where you write down everything about your snack shop: how many samosas you sold, how many cups of filter coffee, what time people bought them, and so on. Data Analytics is like reading that diary very carefully. You look for patterns. For example:

  • “Oh, on rainy days, more people buy hot pakoras.”
  • “Most people buy coffee between 7 AM and 9 AM.”
  • “After 6 PM, school kids mostly buy sweets.”

You are just finding interesting facts and patterns from the numbers and information you have. It’s like being a detective for your own business!

What is Business Intelligence?

Now that you know all these cool facts (from Data Analytics), what do you do with them? Business Intelligence is about using these facts to make your business even better. It’s like using your detective findings to make smart choices. For our snack shop example:

  • Since more people buy hot pakoras on rainy days, you make sure to prepare more pakoras when it rains.
  • Knowing that coffee sells most in the morning, you ensure your coffee machine is ready and fully stocked early.
  • Since school kids love sweets in the evening, you keep the sweet counter well-lit and full after 6 PM.

See? You used the facts (Data Analytics) to make smart decisions (Business Intelligence) that help you sell more and make customers happier!

Why are these Superpowers important for Businesses in Tamil Nadu?

Just like our snack shop, big or small, every business in Tamil Nadu can use these superpowers. Here’s why they are so valuable:

  • Make Better Decisions: No more guessing! You make choices based on real facts.
  • Find New Opportunities: You might discover new products people want or new times to sell more.
  • Save Money: By knowing what sells, you avoid making too much of what doesn’t, saving money on waste.
  • Understand Your Customers: You learn what your customers truly like and need, making them loyal to your brand.

Real-Life Stories from Tamil Nadu!

We’ve helped many businesses in Tamil Nadu use these superpowers. Here are a few examples:

1. Helping a Local Grocery Store in Madurai

There was a popular local grocery store, “Murugan Stores,” in Madurai. Mr. Murugan wanted to know why some products sold well and others just sat on the shelves. We helped him look at his daily sales data. We found out that during the Tamil festival “Pongal,” certain types of rice and jaggery sold much, much more than usual. Also, we noticed that many customers bought specific spice powders together. Using this data analysis, Mr. Murugan made a smart business intelligence move: he started stocking extra amounts of festival items weeks before Pongal and created special “combo packs” of related spices. His sales during festivals jumped by 30%, and customers loved the convenience of combo packs!

2. Improving a Coaching Centre in Coimbatore

“Bright Minds Academy,” a coaching centre in Coimbatore, wanted to help their students do better in exams. They had tons of data on student test scores for different subjects. We helped them analyse this data. What did we find? Many students struggled with “algebra” in Maths and “grammar” in English, no matter how much the teachers taught. This data analysis showed a clear pattern. So, the academy used this business intelligence to change things. They introduced special extra classes just for algebra and grammar, bringing in new teaching methods for these tough topics. The result? Student scores improved by an average of 15% in those subjects, and more parents enrolled their kids, seeing the positive results!

3. Boosting a Small Textile Unit in Tirupur

In Tirupur, the textile hub, a small fabric dyeing unit called “Vel Textiles” faced issues with wasted fabric and dyes. They didn’t know exactly why. We helped them collect data on how much fabric was wasted in each batch, how much dye was used, and even details about the machines. By carefully analysing this data, we discovered that one particular dyeing machine was causing more waste when it ran for more than 8 hours continuously. The temperature control was off after long runs. This business intelligence led them to schedule maintenance for that machine more often and give it short breaks. By doing this, they reduced fabric waste by 10% and saved a good amount of money on dyes every month. Simple changes from data, big savings!

How Can You Start Using These Superpowers?

You don’t need fancy computers or complicated software to begin. Here’s how you can start:

  1. Start Collecting Information: Even writing down your daily sales in a notebook or an Excel sheet is a start. Note what sells, when, and to whom.
  2. Look for Patterns: Regularly review your notes. What do you see? What surprises you?
  3. Make Small Changes: Based on what you learn, try making small changes in your business.
  4. Don’t Be Afraid to Ask for Help: Just like we helped Murugan Stores or Bright Minds Academy, experts can help you see patterns you might miss.

The Future is Data-Driven!

In today’s fast-moving world, businesses that use their data are the ones that grow fastest and stay strong. Whether you are selling idlis from a cart or running a big factory, understanding your data and using it smartly is the real secret sauce for success. It’s about being smart, not just working hard!

So, are you ready to unlock the power of data for your business?

Happy analysing!

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