To remain competitive and succeed in today's fast paced economic and uncertain environment, small and medium sized businesses have to be innovative, creative and knowledgeable about the business environment in which they operate. They need to recognize and utilize the business technology tools that enable them to do that and allow then to focus on achieving their goals and objectives. Business intelligence is one of those information assimilation tools that SMBs need to extract and interpret relevant information to make timely and informed decisions. To achieve success, SMBs need to implement or improve their analytical capability and achieve best-in-class performance through the deployment of business intelligence.
An effective BI tool should be able to integrate data across multiple business systems (ERP, CRM, BPM, etc) to provide intelligent reporting cababilities.
According to the Aberdeen Group's research, here are some key factors why SMBs are deploying BI solutions:
"Given the growth in data volume and complexity inherent in today’s business landscape, particularly in light of the increased number of users, the challenges to effectively deploying Business Intelligence (BI) capabilities to the organization are becoming increasingly acute. These challenges however are not reserved for the large enterprise. Small and medium sized businesses (SMBs – defined as less than $500 million in annual revenues) face a similar data crunch with the added difficulty of limited financial and human resources. Companies of all sizes are now beginning to investigate emerging deployment strategies to increase BI implementation effectiveness and improve access to BI capabilities across all levels of the organization. Aberdeen's October study, Business Intelligence for the Small to Medium Sized Business (SMB), revealed that improving speed of access to critical business data was the top pressure forcing SMBs to invest in BI solutions".
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