3 Ways to Improve ROI with Analytics

Learn about the three main ways digital data collection and analytics can improve your business

Information can be extremely powerful. However, it’s also possible to drown in information. Finding and using the right information to improve your business requires smart analytics. When analytics is done right—using the right digital tool and the right data points—you end up with actionable insights that can improve your business in a variety of ways.

Here are main 3 ways analytics can improve your ROI:

Save Management Hours

Site audits, quarterly reviews, annual reviews, and other types of audits are essential for keeping business operations on track. However, they can be time consuming. Using a digital process for data collection and analytics will reduce the number of management hours required to complete these tasks, freeing staff up for other activities and reducing your overall costs.

Improve Operational Performance

Analytics allows you to collect and analyze vastly more data points than you could with analog processes. This paves the way for improved operational performance. You can identify processes that aren’t working optimally and find ways to improve them. You can parse the data any way you want, so you can either review processes for your operation as a whole or for different regions, territories, branches, or franchise locations. Different locations can be incentivized to improve their performance compared to others.

Reduce Risk

If there’s a problem at your business, naturally you want to correct it as soon as possible to limit the damage it can do to your bottom line. Analytics helps you recognize problems early on so you can act quickly to solve them. With the right data points, you can even recognize potential problems before they happen and prevent damage to your ROI. For example, you can track metrics related to compliance, which will reduce your risk of failing a state or federal audit or inspection and having to pay fines or suffer related business losses.

Why Choose MyFieldAudits

MyFieldAudits is a cloud-based tool that was specifically designed to meet the needs of businesses that use site audits and other types of field reports. MyFieldAudits allows for quick and easy on-site data collection, including photos. The data will be uploaded instantly to the cloud, and the results of the analytics will be pushed out in real time to dashboard displays that key stakeholders can access and use to take meaningful action. If you’d like to learn more about customizing MyFieldAudits to meet the needs of your organization, contact us at info@MyFieldAudits.com.