Retailers will identify the type of Business Intelligence that can be accessed to inform their business plan. [printfriendly]
Myths and Facts
- No small business can manage all that data. There is way too much data for a small business to handle.
- We need an expert to manage all this. A normal business person can’t figure all this out.
- I can run my business on “gut” feelings and following how I have run it before. If it is not broke – why fix it?
- Yes there is a lot of data. Choose the data that is valuable to you and find the tools to manage it. This may take a few hours to set up but will make reviewing and using your BI simple in future.
- If you know Excel you can download tables to automate the set up. You may want to hire someone to help you set up the Excel tables or POS (depending on what you choose) but using it once set up is easy.
- This is a dangerous myth. You don’t know what you don’t know. Use BI to get the real story with hard numbers to really understand what is going on in your business. It may surprise you and hopefully make it easy for you, to make some positive changes in your business – if nothing else it will “prove” what you knew to be true.
Without in-house internet related skills, systematically gathering and using business intelligence is a major challenge and a barrier to remaining competitive and sustainable as a business. How can we use tools/methods to make it easier?
Even 1-2 person companies can set up valuable BI that will support business decisions and operations. Visit the BI Plan page for more…