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Fashion industry: Do you still use spreadsheets as your business intelligence?

Written by admin. Posted in Clothing

Undertaking predictive analysis and getting a good understanding of what tendencies are important for the industry is paramount when running a fashion business. If you’re like everyone else, chances are that you rely on spreadsheets for business analysis. You store precious information, confident that the formulas you’ve saved will remain unchanged. It’s very popular in business to leverage spreadsheets because they’re highly visual and fairly simple to use. Nevertheless, resorting to spreadsheets is a huge mistake. They’re bad for business. If you’d like to find out more, please continue reading.

Spreadsheets versus business intelligence

As your fashion business starts to grow and become more digital, it’s necessary to track and analyze a great deal of data. For instance, you have to make sales projections for a new clothing line. Executives have the tendency to rely on manual data entry, which can lead to error. Studies have demonstrated that numerous companies have experienced big financial losses due to spreadsheet errors. You can’t afford to make costly mistakes, so you should really consider investing in a forretningsanalyse solution. in this fast-paced world of business, creating, manipulating, and verifying spreadsheets isn’t recommended. Just think about all the hours that are wasted. Microsoft Excel is better than using pen and paper, but it’s not the ideal business solution.

Most importantly, spreadsheets represent a security risk. Whether a hard disk crash or a computer virus (or an employee entering incorrect information), any of these aforementioned events can have a devastating effect on your fashion business. This is precisely why you should be using one of the best forretningsløsninger, such as Microsoft Dynamics. A business intelligence solution will help you produce accurate reports by extracting data directly from the source. Basically, you can transform data into actionable business insights. You can get an overview of the volume of orders, optimize the production line, understand your customers, and, last but certainly not least, increase your cross-sales.

Microsoft Dynamics 365 – the complete business solution

If you don’t know what ERP would be right for the fashion industry, here’s a suggestion: Microsoft Dynamics 365. You have all the tools you could possibly need to manage your business and drive progress across the entire value chain. No matter whether or not you’re already deploying this business intelligence solution, it’s the perfect pen for establishing a data-based decision-making culture in your organization. It can even help you set the foundation of a stellar lagerstyring program. Besides powerful business insights, Microsoft Dynamics 365 enables process automation, centralizing data, managing relationships, and integrating other apps, just to name a few.

While other business intelligence applications are hard to comprehend, not the same thing can be said about Microsoft Dynamics 365. You don’t have to be tech-savvy to use the system to your advantage. If you work with fashion, apparel, footwear, and so on, you can make it your core business software. It will support all your business needs. So, stop using spreadsheets for business analysis and make the transition to a more reliable solution.

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