Reduce costs

Look for inefficiencies and redundancies in your business processes to optimize your costs.

Depending on the way data is used in your organization there will be different ways to increase revenue.
> Do you have data in the core processes of your business that directly deliver value for your clients?
> Or do you only have data in the support processes?

In the example here above of the drill manufacturer there is data available in the core process: the drilling. This allows the manufacturer to develop new services and business models around this dataset.

Most businesses don't have that much data in their core processes, but they do in the supporting processes. When you start analyzing the processes that generate the data you want to use in your dashboards, you will get a very thorough view on how exactly they are designed. Chances are you will encounter inefficiencies or redundancies even before you explicitly start looking for them.

Once you have a good KPI dashboard up and running, you can start tweaking the organization. The changes you make in the business processes will become clear in the dashboards as well.

For example, it could be you have two software applications who have nearly the same purpose. By redesigning your process and supporting applications in a way that you can cut one of the two, this is an immediate cost reduction of the license cost of this application.

Now you can start tuning the performance of your business!