In the past, business intelligence was a luxury small to medium businesses couldn’t afford. It meant hiring a team of IT and data experts to collect and analyze tons of information, then condense their findings into reports which the average person could understand. Today; however, there are many technologically automated solutions that would provide businesses with intelligence at an affordable cost. Here are three main reasons to embrace Business Intelligence (BI) software for small to medium businesses:
- Address Varied Needs: One type of BI software can have multiple applications, helping to provide insights to the various departments of your business. There is no need to invest in multiple means to collect business intelligence, and many software providers offer different levels of service, so you can tailor its scope to your needs and budget.
- Get to Know Your Customers: BI software allows you to discover just who your customers are, what their interests are, purchasing trends, and much more. This helps your business anticipate and fill your customers’ needs more efficiently to retain the customers you have and develop strategies to best attract new ones.
- Data Analysis at Your Fingertips: With BI software, there is no need to wait for a team of experts to do their job and report back. All the information you require to make important business decisions is right at your fingertips and online. Simply choose what you want to discover, and the software immediately delivers the answers in an easy-to-understand manner on a wide range of devices, so you can get your analytics regardless of location.