In today’s business climate, it’s more important than ever to have a finger on the pulse of your company. With the advent of digital transformation, more tools are available than ever to help you do just that. Here are six business aspects you can now control and monitor digitally.
1. Inventory Levels
In the past, keeping track of inventory levels was a manual process that was subject to error. With the advent of digital tools like barcoding and RFID tagging, inventory management has become much more accurate. You can now monitor your inventory levels in real time, so you’ll always know exactly what you have on hand.
For example, let’s say you run a clothing store. In the past, you would’ve had to manually count the number of pieces in each size and style in your inventory. If you were low on a particular size, you wouldn’t find out until a customer came in looking for it, and you didn’t have it in stock.
With digital inventory management, you can see at a glance how many pieces you have in each size and style. You can also set up low-stock alerts so you’ll never find yourself out of stock again.
2. Employee Productivity
Another area where digital tools have made an enormous impact is employee productivity. In the past, tracking how productive employees were during the workday was difficult. However, with modern tools like time tracking software, it’s now possible to get a clear picture of employee productivity levels.
This data can then be used to identify areas where employees may need additional training or support. For instance, if employees spend a lot of time on a particular task, you can provide training to help them work more efficiently.
Time-tracking data can also be used to identify which employees are the most productive. This information can then be used to reward those employees or give them additional responsibilities.
3. Shipping and Logistics
The shipping and logistics industry has also been transformed by digital tools. In the past, tracking a shipment could be a time-consuming and frustrating process. However, with modern shipping software, you can track shipping details in real time.
This means you’ll always know exactly where your shipments are and when they’re expected to arrive. For example, let’s say you’re expecting a load of new inventory from your supplier. With shipping software, you can track the shipment from the moment it leaves the warehouse until it arrives at your door.
This information can be used to plan for inventory arrivals and ensure that you have the staff and resources available to unload and process the shipments when they arrive.
4. Customer Engagement
It’s also now possible to track and monitor customer engagement levels digitally. This data can be used to identify trends and patterns in customer behavior. Additionally, if there are any issues with your product or service, you’ll be able to quickly identify and address them.
For example, let’s say you run an online store. You can use customer engagement data to track how often customers visit your site, what pages they view, and how long they spend on each page. This information can then be used to improve the overall experience for your customers.
Additionally, if you notice that a particular product isn’t selling well, you can use customer engagement data to find out why. This information can then be used to make changes to the development of your marketing strategy. Trends and patterns in customer behavior
5. Marketing ROI
Digital tools have also made it possible to track marketing return on investment (ROI) in ways that were not previously possible. This data can be used to improve future marketing campaigns and ensure that your marketing budget is being spent in the most effective way possible.
For example, let’s say you run a social media campaign. With modern tools, you can track how many people saw your ad, clicked on it, and then made a purchase. This information can then be used to adjust your marketing strategy to get better results in the future.
Additionally, if you’re running a sale or promotion, you can use marketing ROI data to track how effective it is. This information can then be used to determine whether or not to continue the sale or promotion.
6. Sales Performance
Finally, digital tools can also be used to track sales performance data. This data can be used to identify trends in customer buying behavior and help you make decisions about inventory levels and pricing.
Additionally, if you’re not seeing the results you want from your sales team, this data can help you troubleshoot the issue and find a solution. For example, let’s say you’re noticing that your sales are lagging behind your projections.
You can use sales performance data to track how many leads your sales team is generating, how many of those leads are converting into customers, and what the average order size is. This information can then be used to make changes to your sales strategy.
Digital transformation has changed the business landscape in several ways. Perhaps most notably, it has given rise to new tools that allow businesses to digitally track and monitor various aspects of their operations. From inventory management to employee productivity, there are now many different aspects of your business that you can control and monitor using digital tools.