Sergei Gundorov presents his top five reasons why small businesses should add BI (business intelligence) to their toolkit. A lot of business managers assume there’s no value for them in using business intelligence tools, because a) it would cost too much or b) only large businesses generate enough data to benefit from analysis.
In today’s tech-integrated environment, however any business regardless of size can benefit from business insights at very little cost. I’ve witnessed how a bar and restaurant owner identified “less than diligent” bartenders that were pouring too much booze for higher tips. He used Microsoft Excel and Power Pivot with just a few hundred records. The point here is any amount of data relevant to your business can provide valuable insights if you use the right tools and modelling techniques.
Author: Sergei Gundorov