Cost savings and increased productivity
Paradigm shift to data-driven business model
Rapid development speed
Bazaar247 MCommerce Pvt. Ltd. is an India-based IT consultancy providing Enterprise Resource Planning (ERP) and analytics solutions. Head of Analytics at Bazaar247 Satish Menon recommends the right Business Intelligence solutions for his clients and supports them in the data analytics space. He shares how Tableau transformed his clients’ businesses from a traditional gut-based approach to data-driven decision-making, helping them achieve competitive advantage in fast-moving industries.
It’s just been a year’s time but our clients are now collecting and capturing data more accurately. The breakthrough is not only in terms of monetary value, but also the efforts that have been reduced, as well as their mindsets.
Transforming businesses through data-driven culture
Many businesses adopt an analytics solution to work smarter and achieve time and cost savings, which translates into profits and growth for the business. For Bazaar247, helping businesses understand the value of data kickstarts a long-term and fundamental cultural change that goes beyond an immediate, tangible benefit.
“Data is an underutilized asset,” observes Satish. “Most organizations do not realize that capturing and analyzing data in the right way can increase their business profits or help them reduce cost.”
Data literacy is a key challenge for Bazaar247’s clients, and for the past one year and counting, Tableau has helped bridge the gap for many C-level executives who were initially skeptical about data analytics.
“With Tableau, we are able to immediately compile whatever data they have and visualize it for them on a dashboard. Even with the miniscule time we have taken to develop a dashboard, they realize the tremendous power that Tableau encompasses,” Satish shares.
With this new realization, he adds, “They automatically want more of it, and are now ready to build a data-driven culture.”
Achieving competitive advantage through agile analytics
Bazaar247 works with many retail businesses, and in a price-sensitive and fast-moving landscape, extracting timely insights and performing fast and accurate analysis is vital for success. From inventory tracking to making pricing decisions, Tableau has helped Bazaar247’s clients make a paradigm shift from traditional methods based on instincts to a data-driven approach.
For example, Satish shares an example of a retail client in South India who was previously not able to track unsold inventory across more than 80 physical stores. Using Tableau helped them consolidate a single bird’s eye view of the business, achieving inventory cost savings by making informed purchasing decisions. This is a huge value-add compared to previously when they were unable to identify which items were slow-moving, and which vendors offered the best profit margin.
In summary, Satish reiterates that it is not only a breakthrough in terms of cost savings, but also the improvement in productivity and the fundamental change towards a data-driven mindset. This new approach to growth has given his clients a competitive edge in a rapidly evolving business landscape.
It is not just the story of one. We have various customers making paradigm shifts from a traditional gut-based approach to a data-driven approach.
Sharing a common roadmap for the future
Apart from its present capabilities, what set Tableau apart for Bazaar247 was also its future roadmap and robust support system. From user groups to events and trainings, there are many opportunities for the active Tableau community to gather. “Users are given preferences in trainings, tutorials are provided and even the Internet is full of support for Tableau,” Satish adds.
Moving forward, he also looks forward to Tableau’s progress in implementing Natural Language Processing (NLP) in querying and introducing machine learning concepts into data preparation and cleaning. He believes this will make analytics even more self-service and put more power and autonomy into the user’s hands.
“All these things tell us that they are going in the right direction,” says Satish. In the future, he looks forward to Tableau integrating even more data sources seamlessly. “This is what the future holds for Tableau and it’s all very exciting,” he adds.
For Bazaar247, he sums up, Tableau continues to be an engaging analytics partner to work with, helping them empower their clients and transform their businesses.
“Irrespective of the domain, data source or technological platform, Tableau just blends.”