How SMEs benefit from a Business Intelligence solution

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Running an SME is a challenge. Achieving revenue optimization and improving overall operational efficiency are universal goals for any business. But today, SMEs face fierce competition, and their ability to survive depends largely on the decisions made by their managers.

So how can SME managers make better decisions?
One of the main nightmares of any company is the time wasted searching through a sea of ​​data for the information we need to operate, to decide, to manage. Making good decisions requires tools that can process large amounts of information efficiently. That is the need that Business Intelligence tools solve , providing concrete benefits to SMEs.

We list some of them:

1- Access to information provides a quick return on investment.
2- It allows senior management to obtain a summary of the business in just the right time from any device and at any time. This provides speed and flexibility of action.
3- It helps each area to gain autonomy over its data, freeing colombia phone number lead up the workload of the IT team. It provides key indicators to adjust all internal gears and obtain better business profitability.
4- The implementation of a BI solution comes with useful tools to better understand and more efficiently manage the business.
5- It allows standardizing reports and evaluating the different areas with the same criteria.
6- It eliminates repeated tasks that do not add VALUE and unifies the data so that each area can analyze its numbers and that they coincide with those of another area.
7- It relieves the work of the IT team because it frees up resources assigned to the generation of reports, optimization of systems, etc.

On the other hand, SMEs gain in Transparency, Time Savings, Results and Productivity Improvement:
Greater transparency: Without having to wait until the end of the month or quarter, a manager can see precisely what is working and what points need to be reviewed.

Time Savings: Dashboards can be set to update automatically, avoiding the time lag between requesting a report, extracting the information and “massaging” it according to the analyst’s knowledge. They can provide information with historical context of what happened the previous month or the same period last year.

Better Results: By being able to navigate their own BI solution, SMB executives can focus on the key performance indicators (KPIs) that are most relevant to improving overall operations, rather than chasing the wrong ones.

Productivity improvements can be analyzed from two perspectives:
On the one hand, the visualization of general and area-specific KPIs helps achieve effectiveness across all areas involved.
On the other hand, it allows data analysis to continue outside the office, with a tablet in a taxi or a smartphone at an informal meeting.