These days SMB’s are getting ahead thanks to the emergence of big data. With business intelligence (BI) tools and software, small companies and organizations have a way of achieving success rates previously only thought possible for big corporations. Ultimately, it comes down to how well SMBs use the acquired data.
Here are a few things they are doing with big data and insights in a way that yields positive gains.
They don’t relegate big data to the IT department, everyone gets involve from the entry level worker to the Business Owner. Everyone gets up to speed with the software implemented, based on their work requirements.
Some BI software has features for getting unstructured data quantifiable, these allows data that don’t contain hard numbers give anyone insight. For instance, social media postings that indicate general dissatisfaction with a product is as useful as numbers appearing in a dashboard. This is a vital in a world were 80% of data in unstructured.
Future Focus and Planning
With the predictive analytics tools that come with many BI software, which include forecasting and trends, Data fed into the BI software allows SMB’s to plan for the future. Many people often focus on analyzing what went wrong and forget on planning with their data on short term goals.
People often say Action Speak louder than words, but I say “Actionable insights speak louder than numbers”. A quick run through of my previous article What is a dashboard should help you. Numbers are good, but can be difficult to interpret when crucial decisions are about to be made. SMB’s are using big data to quickly adjust production on the fly due to insights.
Put information to actual use
It’s one thing to have insight and another to act on it, that’s why SMB’s do not delay in changing trajectory the moment their dashboard is telling a story they do not desire. Insight not acted upon puts SMB’s in the same pot as non- BI users.
Big data is your friend, its abundance is getting SMB’s ahead in making smart decisions and usurping the market. Get much needed insight from your data today.Tags: analytics, BI, Business Inteligence, Data, Insight, SMB