What is the Process?
Making business improvements is a constant process of analyzing data to make predictions for the best course of action. There are many ways to break down the process, but each method tends to have similar core steps. We like to break the process down into these points; Identify Business Need, Collect Data, Analyze Data, Predict Outcomes, and Make a Decision.
Identify Business Need
The first step is to properly identify what your business needs in order to improve. This discovery process typically begins with open-ended questions with people involved in the process to help discover any underlying issues your company may be having and their potential causes. You can start to gather some information to figure out any pain points.
After identifying your business need, you’ll have to gather data before you can make any form of analysis. Depending on your identified need, you’ll collect the relevant data that will be useful. For example, if you are having an issue with the accuracy of your bids, collecting data on job costs, change orders, materials, equipment usage, and labor hours will be needed for proper analysis. Having a central document repository in your ERP speeds up this process as you are able to access all of your company’s information from multiple departments with ease.