The modern idea of Business Intelligence (BI) has been used by big companies since the early days of data warehousing. BI didn’t start out as a complicated set of data analytics. Going back as far as there were people doing business, proprietors used BI to improve their odds of making a sale. The age of big data changed the rules somewhat, but that doesn’t mean that the game can’t be played by both big and small businesses. If you run a small business and think that BI and analytics are only for big corporations and only they can afford it, you couldn’t be more wrong.
The Cost of BI Software is Decreasing
In the past, you needed a large IT department to warehouse the amount of data that made BI profitable. You also needed a team of data coding specialists who could help you dig through that cryptic data and make sense of what was hidden there.
The rapid advancement of technology has changed the playing field. Instead of needing a team of IT experts to run your BI software, it can often be run by a small department or even outsourced to a team of contractors. This makes it ideal for small businesses with that barrier to entry fading away. In-memory technology and Web 2.0 interfaces are bringing the arena of BI to the small business world.
Taking IT Out of the Driver’s Seat
In the past, BI requests needed to be filtered through IT. Custom reports needed to be developed and written. These things took time and money. Time and money that a small business didn’t have available to them.
Small businesses need to be quick and able to adapt to changes in the market on the fly. Fortunately, as BI software has evolved, developers have recognized this need and are coding accordingly. Users, not IT, are now the ones in charge with self-service BI solutions. Cloud-based services and self-serve analytics are all making IT intervention a thing of the past. Several vendors are taking advantage of this space in the market and making their services available and affordable to any SMB that can leverage their services.
The Rise of Open Data
Data used to be a tightly held commodity. Because data sampling was typically smaller for SMBs, it didn’t make sense for them to attempt to leverage BI. Their data sample simply wasn’t large enough to make a difference. The rise of open data projects has changed that.
Now SMBs can share their data samplings with other like businesses or even find open sources of data available for use. SMBs are now able to get a wide range of social and economic data that they can overlay with their own data to provide a reasonable sample to work with.
Izenda Has BI Your SMB Clients Can Use
If you are looking for a BI for your SMB clients, Izenda has what you need. Contact us today to see what we can do for your small business.
Need help choosing the right business intelligence solution? Izenda’s solutions experts can help.