From Project Data to Business Insights
Make confident and impactful business decisions based on project analytics. Receive detailed reports about your company’s resources, projects, clients, service types, utilization rates, and other crucial metrics..
Compare budgets vs. scheduled work rates
See how scheduled tasks stack up against the baseline project budget. Business Insights help maintain budget limits across all projects.
Improve team utilization rate
Optimize team workflows. Smartoo Business Insight uses data from project schedules to calculate the work schedule percentage of each team member.
See income produced per client
Determine which clients produce the most income vs. effort for the company. Receive reports on each project based on allocated budget, hourly rates, and scheduled man-days.
Frequently Asked Questions
What is a business insight tool?
A business insight tool analyzes data from projects and tabulates them in a coherent report. From this, users can plan strategies and operations to improve company performance.
Data from these insights can be used in a variety of ways, such as:
1. Forecast total budget
Setting up a project’s budget is the easy part. Maintaining that budget and predicting its total by the end of the process is what stresses project managers out. An insight tool provides visual indicators for when budgets are progressing sporadically. This lets PMs and business owners act quickly and confidently to mitigate the issue.
2. Track variation costs
Project variations happen all the time, and it’s difficult to keep track of the original budget due to the natural mixture of costs. A business insight tool like Smartoo helps managers compute these extra costs separately, while also keeping them nested in one project.
3. Calculate employee performance
Having a numerical value for each team member’s performance lets you evaluate their strengths and weaknesses. Applying that to upcoming projects will holistically improve teamwork and efficiency.
4. Evaluate client’s value to the business
Keeping tracking of project data helps businesses evaluate which one is producing the most net income. Collecting enough of these data can help an insight tool figure out which client is giving you the most money with the least cost. Letting you know which projects to prioritize in the future.
Are data collected for insights secure?
Yes, data translated into insights are only accessible to accounts permitted by the system admin and are only used for reporting purposes.
How are business insights different from business intelligence and data analytics?
Business intelligence is the complete process of creating strategies so that organizations can create impactful and confident business decisions. It comprises the *collection, preparation, and analysis of data* gathered from a variety of sources. These sources could come in the form of tools, reports, or even services.
Data analysis is the *translation of raw data into actionable insights*. It’s an integral part of business intelligence — less concerned with its effects on the business, and more on pure statistics and technicalities.
Just like data analysis, business insights** is also part of business intelligence. The difference being, analysis is means of reading data off charts and graphs while *insights are the takeaways or learning you get from these analytics.*
So what does it mean to use a business insight tool? In essence, you are free from the tedious process of collecting multiple-sourced data and the trouble of deciphering data analytics.
Is business insight pricing separate from Smartoo?
Business Insight is a main function of Smartoo, and therefore is included in all pricing plans.