One of the best examples of something gone terribly wrong is New Coke. In 1985 Coke decided to change the iconic formula of Coke to re-energize the brand and battle with Pepsi to take more market share. Based on taste tests of nearly 200,000 it was decided that the new formula was preferred over the existing formula. However, the data analytics didn’t measure the historic bond that consumers had with the original Coke formula. This incomplete measurement of all the data points created a firestorm of consumer protest that may never be matched. After a few months of release, New Coke was gone.
Capturing and measuring all the correct data points, getting real time data is key in today’s environment. Depending on older technology like QuickBooks or other on premise systems that rely on dumping data to spreadsheets and re-formulating data with different formulas and versions only contributes to confusion. This is a recipe for bad decisions.
Sage Intacct excels at real time reporting and dashboards. Users need information presented in a clear, concise way and Sage Intacct dashboards provide that insight for all the major roles of the company. This flexibility can build a dashboard for a specific role (CEO, CFO, CTO) and provide the unique, real time KPI’s to drive the best decisions. Coke can make a major blunder and survive but most companies don’t have that luxury – capturing and analyzing data through dashboards via Sage Intacct is the first step to growing your business.
To learn more about how Sage Intacct can help your business, contact our Sage Intacct Manager, Barry Coyne, today!