Home » Business » Big Data » The value of business intelligence for SMBs
Today’s businesses – small and large – compete on data. Whether boosting marketing ROI or improving customer satisfaction, business intelligence (BI) can give smaller businesses a distinct advantage over their competitors. It can provide them with actionable insights from their data – all presented in an easily digestible and insightful way, meaning implementation for staff is easy.
BI is right for SMBs, and the top five advantages of them are:
More organisations are using BI software to help them make sense of their data but many SMEs are opting for free or open source solutions – but is it a wrong move?
The decision to take this route will likely have been based on the cost, or lack of it, compared to other custom BI options. However, this can often prove to be a false economy as much of the open source software available fails to meet expectations. Chances are that, without custom business intelligence tools, organisations will miss out on the advanced functionality that could boost their business operations, employee productivity and profitability.
The bottom line? Business intelligence – when harnessed effectively – can drive change, boost workforce engagement and enable strategic decision making. Amass the big data available and, crucially, look at how it can truly help the business grow. Successful businesses are good at aligning their work with strategic goals, and making sure this drives change and long-term success.