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Topic: Analytics

Drowning in Data? How Business Intelligence Can Help

Aug 29, 2017 / by Michael Burdick

Businesses have more data than ever before, but scads of statistics can be overwhelming without the right reporting tools.
 
Revenue systems can crunch invoices and cash flows, but they don’t pay attention to the factors behind the numbers. That’s fine, but business leaders cannot afford to ignore this vital information. Companies that are able to zero in on actionable insights and connect causes to effects will always be a few steps ahead of competitors.
 
Thankfully, they don’t have to do it alone. Business intelligence tools empower entrepreneurs to understand data in quicker cycles via reports and dashboards, allowing them to see what's happening in real time and adjust accordingly. 
 
 
 
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Tags: Analytics

How To Create A Financially Stable Business: Two Experts Discuss

Jan 16, 2017 / by Michael Burdick

As a small business owner, the concept of financial stability might sound like a far off dream but it doesn’t have to be. We got into the brains of two Paro employees with years of finance experience in the hopes they could lead us in the right direction. We posed the question: What is the most important step a small business can take to become financially stable?  Their answers can guide you along that quest.  Here are a couple of their suggestions:

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What Story Does Your Startup's Financial Data Tell You?

Apr 21, 2016 / by Michael Burdick

This blog was contributed to Paro by Andreas Rekdal at Built In Chicago. Built In is a network that allows people to get connected to local startup communities in Austin, Chicago, Colorado, and Los Angeles.

Data is king, and in 2016, startups have the ability to make mature data-driven financial decisions that can dramatically influence their outcomes.

Startups sit on a gold mine of financial data. Detailed analytics on where customers are coming from and how much money it cost to acquire them can be automatically captured and quantified. The same goes for data on how customers engage with products and how profitable different customers — or groups of customers — are. This data, when used properly, is ripe with actionable insights. Yet surprisingly few startups take advantage of this competitive edge.

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