Panorama Business Intelligence

Traditional BI implementation has been targeted at the largest and most technologically-advanced companies for years. Admittedly, enterprise organizations with large data warehouses and extensive IT infrastructures have had the greatest need for BI solutions. But that doesn’t mean SMBs shouldn’t be able to reap the benefits BI has sewn, and more BI vendors have realized the inherent potential BI has for midmarket businesses. As the BI market shifts its focus, many small and mid-sized businesses are asking themselves, “Do the benefits outweigh the cost?”

From a cost perspective, the evolving BI market is tailoring solutions to SMBs – not only through more targeted technical implementation, but also by improving affordability. Looking beyond the solution’s immediate cost, the more tools an SMB has in place to examine its performance data, the easier it is to grow the business and improve profitability over the short- and long-term.

In order to gain full visibility across an IT infrastructure, a BI solution must be in place. As with large enterprises, business intelligence software allows SMBs to:

- Access and analyze data.
- Manage data.
- Document business processes.

The benefits of full visibility allow SMBs to:

- Gain full compliance with government regulations.
- Speed up reporting.
- Eliminate unprofitable product lines.
- Allocate resources more efficiently.

Midmarket companies often think of BI solutions as too complex for their business. In order to justify the cost, managers need look no further than the efficiency and profitability a BI solution can bring to their companies. Implementing a BI solution to correct inefficiencies and promote profitability is a crucial way SMBs can reduce wasteful spending, especially in the current economic environment.