Snyder’s of Hanover a family owned and operated business headquartered in Hanover, Pennsylvania with a global presence was facing data management and reporting issue and need to take drastic steps in order to stay competitive. The company was experiencing inefficiencies in it’s data management and analytics processes that it enlisted the help of an outsource consulting firm to evaluate, redesign, and recommend appropriate solutions.
In the past, the company spent weeks to manually collect and analyze business financial data, which often led errors in data entry, loss in data integrity, and unnecessary bottlenecks in the process. By realizing that identifying this as an issue and taking necessary steps to seek solutions for a more efficient data management and analytics process, the management of Snyder’s of Hanover took the first step towards being business intelligent.
This is very important strategically as information is power and the sooner information is on hand the faster management can make informed business decisions. Furthermore, by enlisting the service of a third party consultancy to come into the company, map the business processes, understand the bottlenecks, and implement a viable solution the top management showed it meant business. Implementing a data warehouse and employing data analytic tool such as proCube is critical to the final objective.
The strategic management process is more than just a set of rules to follow. It is a philosophical approach to business. Upper management must think strategically first, then apply that thought to a process. The strategic management process is best implemented when everyone within the firm understands the strategy. Strategic management is a continuous process that appraises the business and ...
Most importantly, the data stored in the data warehouse can be leverage in future for simulating, trending, and forecasting possible business scenarios and outcomes. Finally, business intelligence is of great import for any organization that wants to compete in a more and more global marketplace. Having data and not managing and analyzing it in totality is of no use. The ability to mine the data is as important as the ability to analyze it. This enables the business to be competitive, think forward, and earn good return on investment.