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The value of Business Intelligence in small and medium-sized enterprises


In the last decade, Business Intelligence has appeared as a strategic help to optimize resources and decisions, and most of small and midsize enterprises have progressively been including BI tools and IT solutions that could improve their business processes.

Initially, SMEs had no material, economic, or human resources enough to get the most out of your data, due to the specificity of the solutions, to infrastructure costs, or especially due to a lack of quality database which to extract the required information. Thus, some decades ago only biggest corporations began the experiment of the “treatment of big data” as the source of a deeper analytic, reaching high levels of accuracy, with the emergence of predictive and prescriptive analytic, and the use of specific algorithm for information analysis.

Currently, the access to this type of solutions by SMEs is much easier in terms of both financial and human, ending with any excuse for not developing an internal strategy in the company about the data treatment and extracting strategic conclusions.

Moreover, most of SMEs managers fail to bet on Business Intelligence sheer ignorance. Most of small company CEOs do not have specific knowledge about big data and BI, so that ignorance raises questions about the benefits that may come to be obtained from these tools. The necessary question is, what are those benefits? Here are some of them:

The final conclusion reached after analysing the impact of a Business Intelligence system in an SME is that, although not being an absolutely need in its businesses, and even if there is an initial “high” cost, the benefits in the medium to long term are clearly evident.

Sources:

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