Have you wondered how to make your business more efficient or tried to troubleshoot how you can better optimize inventory levels? Perhaps you’ve been leaning towards the reduction of information waste or want to enhance your marketing communications? All of this can be done with business intelligence (better known as BI), but it’s not always as simple as clicking a few buttons.
You see, business intelligence does come with its challenges. Like anything else worth having in this life, it takes some investment of time, energy, and money to truly get your organization’s strategies running in working order. With that said, once you’re in a good place, the results will speak for themselves.
If you’re running into obstacles surrounding your business intelligence endeavors, here are some key things to keep in mind:
1. You Can’t Justify the Expense of Business Intelligence
Every business has to run on a budget, but if you’re operating a small or medium-sized business, your strings are probably especially tight. When you look at BI solutions, you might be put off by the prohibitive costs associated with many software solutions out there, particularly if you’re looking at a company that still requires you to deploy huge hardware resources.
Additionally, you probably don’t have a team of data scientists, IT infrastructure experts, and consulting analysts on your team who can do the dirty work when it comes to scrubbing data.
How MIBAR can help
To start with, we offer a suite of cloud-based BI and analytics tools that can be accessed anytime, from anywhere. That means, you don’t have to deal with expensive hardware setups or costly onsite visits when it’s time for an upgrade or repair. Plus, Power BI allows you to see metrics and business drivers in easy-to-understand dashboards so you can better understand your company’s performance and capabilities without needing a whole team of experts on your payroll.
We offer an affordable solution and provide you with the tools, technology, and know-how to get the job done better so you’ll soon see a positive ROI (and have the data to prove that you made the right decision when you chose to work with us). Get advanced analytics, feature-rich business intelligence, and context-based analytics combine to provide enterprise-level measurement and analysis at a small business cost.
2. You Can’t Get Everyone in Your Company to Buy In
It’s not uncommon for companies to work in siloes, even in today’s era. This kind of setup makes it particularly difficult to gain company-wide adoption of something like BI. Don’t be discouraged if you get a little pushback; remember, the right BI solution can offer you insights and give you actionable information that’ll make your business better. Sometimes, stakeholders just need a little assistance understanding why you want to implement a change that incorporates data and reports.
How MIBAR can help
Our team is skilled at helping data champions gain the acceptance of others in their organizations. We’re happy to provide demos so your team can see how easy it is to interact with the data you’ll be collecting. We’ll provide information that showcases how you’ll soon be able to visualize and communicate information to your internal and external customers.
Learn more in How the Right Solution Makes Business Intelligence Accessible for Everyone.
3. You’re Currently Analyzing Data from Multiple Different Sources
If your information is everywhere, you probably feel overwhelmed by the idea of bringing it all into one single place. If you’re like most organizations, your data lives in spreadsheets, various CRMs, and multiple databases. Add to that a sticky note or two, and you’ve got a recipe for disaster when it comes to finding and organizing the information you need to run your business efficiently.
At first thought, you might think you have to restructure your databases or set up a data warehouse in order to clean up your data clutter, but that’s actually not the case. Innovative BI tools can address this problem and easily merge multiple data sets without a big hassle.
How MIBAR can help
We’ll help you take the guesswork out of important business decisions by walking you through the process of setting up your BI solution and integrating your various platforms so they all feed into one single, unified place. Soon, you’ll be able to see beyond the numbers as you create new relationships and detect trends that allow you to make more informed plans moving forward.
Plus, Power BI can help you avoid the steep learning curve while bringing together hundreds of data sources. Excel spreadsheets, cloud services, streaming data, and on-premises databases — no matter where your data lives or what form it’s in, you get a holistic view of the key metrics for your business.
4. You’re Not Measuring the Right KPIs
Sure, you might be quick to measure financial KPIs, but are you also checking in on other metrics that help you measure and monitor your organization’s success? A lot of companies don’t look at anything that isn’t on their balance sheets, which leave a lot to be desired in terms of measuring successes and opportunities. When you have a wide range of data, however, you can also analyze a greater number of KPIs, ensuring you’re appropriately checking in on the progress of your business on a daily, weekly, monthly, quarterly, or annual basis, as you see fit.
How MIBAR can help
Our team will help you set up the dashboards and reports you need for your unique business. Our goal is to help you improve your decision-making processes while growing your company, so we provide you with all the training, tools, and support you’ll ever need to understand which key performance indicators you should be keeping an eye on.
5. You Don’t Think Mobile-Based BI Exists or is Easily Accessible
We live in an on-the-go age, which means you and your employees need to have quick access to data at a moment’s notice, no matter where they happen to be at the time.
Old-school BI can’t offer this to you because it requires clunky hardware that isn’t mobile. Cloud-based BI, however, allows you to be hyper-connected to your business, enabling you to access data-driven reports and insights 24 hours a day.
How MIBAR can help
Since our cloud-based platform is available at your fingertips, no matter where you are, you’ll have the ability to gain insights on your company’s business whenever necessary.
Reach Out to MIBAR Today!
Understanding business intelligence isn’t always easy—especially if you’re just getting started. Lean on our team to guide you through the process of integrating a great BI platform into your company’s operations. You’ll be so glad you did.
