Why Business Intelligence is Important for Small Businesses

What is Business Intelligence?

Business Intelligence (BI) in an umbrella term that encompasses all aspects of a business’s applications, infrastructure, and tools used for the analysis of business information. BI data is usually displayed in the form of graphs and charts for easy evaluation and understanding. It is used to support better business decision making and determine best business practices.

Why is It Important?

Business Intelligence is a vital part of any organization because it allows the business to understand and improve upon its business practices. By gathering internal data and comparing it to companies within the same industry, businesses are able to gain a better understanding of their performance and value compared to their competitors. This is especially valuable to small businesses due to their difficulty to develop and compete with larger companies and corporations. By having easy-to-analyze data, businesses are able to quickly and effectively compare their performance to competitors and begin to improve on their logistics.

Business Intelligence Trends

Businesses run on data, so it makes sense for that data to be easily accessible. Companies are now relying on their business intelligence services to be always accessible from anywhere at any time. Having a platform that can quickly combine and display data from multiple sources and create accurate calculations and visualizations is needed. The solution to these business needs is Cloud Computing. By being able to access company data securely from anywhere, the amount of equipment, power, and time needed to conduct business is drastically reduced.

Why Move to the Cloud?

Cloud computing allows you to streamline your business services with modern cloud technology. Benefits include, but are not limited to:

• Instantly drop your overall IT expenses (hardware, software, maintenance, and power) by 50% or more.
• Automatic disaster recovery and protection from fire, flood, theft, viruses, and other natural disasters.
• Instantly access your e-mail and files from home or on the road from any device.
• Save on electricity and drastically reduce the equipment that needs to be purchased.
• Increased cyber security – the cloud is actually more secure than a traditional network.

There is no use continuing to rely on old and outdated technology when there is a simple and cost-effective option available. Business cloud services from CloudColorado are the perfect solution to all of your business intelligence needs. Contact us today to learn how we can simplify your business’s reporting and data integration.