Business Intelligence (BI) software is a term that was once exclusively left to IT experts, leaving it inaccessible to many small business owners. However, this is no longer the case. Modern self-service BI platforms now promise the concept of ‘data for all’, driven forward by the availability of user-friendly, self-service data analytics.
For small businesses, data analytics is now just as accessible as it is too large corporations that have access to extensive IT departments – and it’s just as vitally important. With the use of self-service BI, these small businesses can now produce large amounts of data analysis with relative ease. This means that the simple implementation of a data-driven culture is easily achievable for your business, leading to a whole world of potential benefits.
Why is BI Software Necessary?
The days of reporting via monthly spreadsheets are long gone. In the world of analytics, things now move at a much faster pace, meaning that it’s even more important to stay in-the-know when it comes to your small business’ analytics data. In order to make the right decisions quickly, having access to analytics insights and the knowledge to use them properly is vital.
Whatever your skillset, self-service BI provides you with a way to access analytics tools. Modern BI platforms allow users to jump on board with data analytics from an entry-level, providing them with the insight they need to help take their business to the next level.
What Benefits Can Self-Service BI Bring?
For any business that operates online, not having access to important analytics data is effectively like working with a blindfold on. Taking such a chance as a small business is a big risk, especially when working within tight budgetary constraints. Using BI data, your business can gain insight into previous performance data, helping you gain a better understanding of your customers and devise better plans.
As the infographic shows, it’s not just historical performance data that can help your business; predictive analytics can provide you with an insight into future trends – helping you prepare and take advantage. These are just some of the numerous benefits that your business can profit from.
Is BI Right for my Small Business?
Self-service BI can work for any business, it’s no longer exclusively for the use of those with big IT departments and even bigger budgets. Every one of the reasons shown in the infographic can apply to your small business, helping turn you and your team into analytics experts. Self-service means exactly that – you can be self-sufficient with your data and analytics needs.
To start reaping the benefits of BI, all you need to do is give your team some basic training. Teaching employees to utilize the benefits BI will quickly and effectively provide them with the tools they need to help create a data-driven culture and bring success to your small business.
Having the ability to view and share dashboards and reports with your team provides a great basis for success. Considering it will play an integral part in the future of business, it could be a vitally important move to make. The benefits speak for themselves