When your business is small but still would like to get your business decisions backed up by a Business Intelligence software, the questions imposes itself: How can you get this done without jumping out of your budget limitations? This is where most of the SMB’s take up the wrong decision to skip the vital benefits of Business Intelligence software.
For SMB’s Business Intelligence may sound risky because you neither have data center nor have specialists to help you out. Considering all these factors many companies does the mistake of quitting BI although data analytics is most important to their growth. Smaller or bigger business is still the same. The technology has grown rapidly and as SaaS market is at its peak, analytics solutions are squeezing themselves to fit even to the tiniest pockets. Even the smallest start-up can deploy one of the best BI tools available in the market to track opportunities and improve the quality of critical business decisions. Let’s look into detail of what benefits the BI brings to the SMB’s
1. Increased accessibility of Data:
The team size is nowhere associated with the productivity of the team. All the members have to be on the same page, the productivity will be under risk even if one member is not in sync with the team. This makes it vital to make data globally available for everyone whenever needed and accessible even through mobile devices. Smaller teams are biggest beneficiaries of this data as they exploit it in the most unpredictable situation.
2. All Data under one roof:
Small business should need less time to export and import data between systems as the volume of data is not as huge as the bigger business giants. This given an edge over the business to manipulate the data to make critical business decisions. Instead of logging multiple systems to access a variety of information, SMB can now maintain them in a central hub. This central hub can then be analysed to show the realistic performance indicator of the business.
3. Simplified complex business process:
Most SMB’s deal with endless drop down menus and historical overview of data which makes them difficult to slice and dice the data. When you run with smaller teams it becomes complicated to sort valuable information out of the system. BI tool is a boon in this circumstance as they smartly intervene to streamline the business process. The tool without human interference automates the analytics, take calculations out of your way, letting you concentrate on making important business decisions.
4. Access to easy analytics:
The thing that discourages the smaller companies from buying the BI tool is the lack of expertise with the tool. Unlike bigger companies, SMB neither have an expert team nor the resource program. BI tools have now grown better for them to be operated by employees who don’t possess intense coding knowledge. The focus is on the function and reporting graph to accomplish rather than the robustness. The most successful analytical tools which are available in the market are the ones which can be adopted without training and complex installations.
5. Quick response to Customer:
The business growth reflects the increased demand for the products/services. This is when the faster response to the customer takes up the higher stage. Responding to an unexpected need of the customer is quite impossible without real time data insight. This data reveals some vital and external factors that can influence the customer behaviour, and enables the companies to deal with the queries accordingly.
6. Increased Productivity:
Considering all these factors BI solutions is more likely to push SMB towards success. By the time these SMB realize the BI benefits the business would have grown up to be a mid-size or a larger one, assuming it has made the max usage of its data analytics. BI tool in simple helps you to answer you how you can use what you have in order to obtain what you want.
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