Importance of Analytics Platform for Small Business
The following analysis from a survey will give you an idea of how Analytics platform/services will help the organizations in the world. Big companies invest more and reap benefits both in terms insights and foresights. As per the current industry standards decision-making ability, if you have the Analytical platform of some sort, you have the following quailities in the organization.
In SME world, anything more than we need to run business becomes luxury. So, SME world does not look into MIS space to gain the advantage using their DATA (in most cases). We take decisions based on what we feel (GUT / INTUTION) OR based on what Data shows. When we dont have MIS or BI systems, we rely only on GUT and the perspective we are comfortable with. Data will enable you to see the pointers across multiple perspectives (360 view). If we combine what you feel and what data shows then you are equipped to take the right decision.
If you don’t have an MIS / BI in place, don’t hesitate to try exploring BI with pre allocated budget which your organization can spend. I am sure you will reap benefits of taking a better decisions in every thing you do.