Today, everything is about mobility and flexibility when it comes to managing and evaluating the data generated by the core application like ERP, CRM, HRMS. This means that the best business intelligence tool for the ERP such as Microsoft Dynamics, Oracle EBS, SAP Business One should allow you to access your data quickly and easily for faster and better decision-making, so you don’t miss opportunities that would help your company grow. The best BI service provider understands the demand for this mobility and continues to provide modern convenience built into business intelligence solutions to let you access easy to use reports, data warehousing and dashboards.
How SMBs Can Benefit from Business Intelligence Tools
In the past, only large companies with enough resources to maintain teams of data scientists and IT professionals could benefit from business intelligence. As technology developed, software has become more powerful, lightweight and accessible. Today, small businesses can use the same tools used by large organizations and harness the opportunities offered by a modern open source business intelligence tool to improve their bottom line.
Monitor and Evaluate Data
There are different types of BI software, from big data statistics and business analytics to dashboards & reports tool. These tools help companies monitor data and create business insights, which are important factors in making shrewd decisions that drive results.
Since such tools are designed to be run completely by users, a modern business intelligence tool for the SMB (Small & Medium Business) can easily adjust to different kinds of needs. Smart self-service business intelligence tools let you evaluate various data sources by yourself. This means that you can use a single tool that addresses the issues faced by various departments. Since BI service providers usually offer different product packages, you can pick one that matches the needs of your small business in terms of features and cost.
For instance, easy to use online dashboards allow SMBs to effectively deal with a variety of organization and department concerns across the board. They don’t need to waste time and effort trying to determine who can provide the required data or who can solve the problem as employees can proactively make tactical decisions, figure out cost savings and monitor their own key performance indicators.
Improved Relationships and Transparency
BI tools also improve relationships and improve transparency with customers. Maintaining a base of devoted customers is very important for SMBs. Business intelligence tools help you collect information about the behavior of customers and organize it in a clearer form so that you can analyze it quickly. SMBs have different data sources such as Excel spreadsheets, Google Analytics and databases. BI tools can collect all this data in one platform, allowing you to assess everything online in a single place.
How to Choose the Best BI Tool for SMBs
When choosing a business intelligence tool, consider your company, teams, departments, employees and success factors that affect your decision-making. Determine what factors would gain from the improvement offered by an easy to use BI tool. You should also determine what is not working for you at the moment.
Choose a tool that lets you assess and visualize important data to make astute decisions that will improve your business performance and results. Always test-drive your BI tools. Take advantage of free trial offers, so your team will be at ease using the tool.