Business intelligence (BI) tools used to be prohibitively expensive because they required hiring specialists to analyze business data. This is why only large companies could afford them in the past and why small- and medium-sized businesses (SMBs) were hesitant to implement them.

It’s difficult to create budget plans, data entry records, and financial information without a productivity tool like Microsoft Excel. Over the years, it’s been a staple in most offices because of its many useful functions, which aid in making business decisions a lot easier.

For years, big companies have been harnessing the power of business intelligence (BI) to improve business performance. And for them, paying experts to analyze large data sets is no issue. It’s different with small- and medium-sized businesses (SMBs). SMBs also store large volumes of data, but many are wary of spending too much on BI. Still, SMBs should leverage BI to gain an edge — fortunately, there’s plenty of budget-friendly business tools and resources available nowadays.

Business Intelligence (BI) has conventionally been limited to big business; only they can afford pricey experts with specialist knowledge who can leverage BI’s value. But the rise of self-service BI tools has leveled the playing field, allowing small- and medium-sized businesses (SMBs) to get in on the game too.

Dashboards have become extremely useful tools for companies to make the most of their raw data. With proper implementation, a dashboard can display essential information in an easy-to-understand format, allowing business owners to easily make informed decisions.

The right technology investment can lead to business success. With customer relationship management (CRM) software at the helm of your sales and marketing efforts, you can nurture long-lasting business relationships and improve your bottom line.

Data is incredibly valuable. The more of it your business generates, the easier it is to predict market and customer behaviors. Analytics solutions aren’t always the right fit for small businesses, but that doesn’t mean their data isn’t valuable.

The benefits of Office 365 have totally changed the way most businesses operate, and it’s hard to believe anything else could have been added to make it even better. But lo and behold, Microsoft has added another excellent feature for getting a better return on your productivity software investment.

Failure to understand your customers’ needs and wants could result in ill-informed marketing strategies. And when your company can’t satisfy their demands, they’ll likely turn to your competitors instead. To prevent this, deploying a customer relationship management (CRM) system can make a world of difference.

Business Intelligence strategies have been utilized by company owners for decades, but only in today's Internet-based market do they have access to all the information they need in one location. See how business owners can use their business intelligence technology to budget for the coming fiscal year.