Many small businesses mistakenly believe that business intelligence
[BI] capabilities are solely the domain for large corporates.
Yet, business intelligence is for all businesses that need to make
decisions. Naturally, there are those types of businesses and industries
where BI has more of an impact. This is typically businesses that
have high product turn over, manufacture products or market multiple
types of products.
BI helps integrate market dynamics with products and customers.
This information is used to empower individual employees to best
do their job in a way that directly links to the key objectives
of the business. The benefits are just as applicable to a SMB as
they are to a large corporate.
For a simple explanation of business intelligence, listen to this
A key takeaway from this video is that for small businesses, competition
is NOT just those other like businesses in thier local geographic
regions. They are also competing with small businesses all over
BI For SMB
The expense of BI tools does prevent many SMBs from making the
investiment in business intelligence insight. This has lead many
BI vendors to provide BI solutions in a 'Software as a Service',
also called 'On-Demand' model. More on BI