08 Oct How important is a BI dashboard to a SMB ?
Will a BI dashboard be worthy ?
That is the question many business leaders ask themselves.
Sometimes you feel like a BI dashboard will first add a new charge to your billboard or you claim to be too small for a BI solution… Companies too often think the need of a BI solution is driven by the number of users required.
But, let me tell you the truth : a Small and a Medium must be sharper and faster than any of his competitor. Are you too small to be sucessful ? Agood BI solution will allow SMB to appear, act and operate like a Fortune-500 companies.
What is a BI dashboards ?
- Indentify Leading Indicators
Nowadays technology uses unique data mining algorithm map (non-linear) correlations that will uncover underlying leading indicators that drive your business performance.
- Pinpoint the Bottlenecks
All the hard job of data analysis and finding the leading performances is done by the software to point out the bottlenecks in your processes.
- Monitoring your Performance
You should be able to manage tasks and action between collaborators to help both the assigner and the assignee to achieve their goals
- Give the Big Picture
It should provide a unified, clear view of the Enterprise Performances.
What do SMB need to understand ?
In startups and small companies,employees are often multipurpose.Everyone has to be flexible and ready to go from a task to another task which will completely different. Who has the time to manually process multiple spreadsheets and separate mountains of data? BI solutions geared towards small businesses are able to automate the Key Performance Indicators of your company and keeps an eye on what matter to you, especially when you have other things to do.
However, BI software is integrated over all departments of a company. Implementing a BI system entails careful planning in order to minimize the risk of failure and to ensure goals are met. You read my post about the Change Successful methods.
What are the benefits for SMB to have a BI solution ?
Get the big picture of your Business. Automatically. On Any device.
Using Scoring and advanced Data Visualization, we are able to auto-populate a dashboard with intuitive Drill-down capabilities. No setup required from the user. No Design. No Coding. Just automatic KPI’s Scoring that provide a Unified view and Save you time and efforts.
We invest a lot of effort in providing performance analytics with a breakthrough approach. The navigation is intuitive and provides users with the ability to easily access any indicator AND its dependencies without any previous statistical or IT Knowledge.
Be alerted when something requires your attention.
The era of digging into your data is over! With Bilbeo you receive powerful alerts when something requires your attention. Unlike existing BI solutions that send periodical reports, our reports are triggered by YOUR performance. That’s what makes it so different!
Leading Indicators Algorithm
Identify underlying Leading indicators that drive the business performance.
We believe that Data Mining and Algorithms need to be in the service of Managers. We do the hard job of Data Analysis to uncover the Leading Performances in your processes. Our Unique Data Mining algorithm map (non-linear) correlations and able to uncover underlying Leading indicators that drive the business performance. They are therefore very useful as short-term predictors because Leading indicators usually change before your other metrics change.
Create your own report and stay updated of your favorites KPIs.
Receive your daily, weekly or monthly report with the indicators that matter to you, your team and your activities.
Bilbeo is offering you a real self-service reporting that do not require any coding skills. You’ll never miss critical information and you’ll make faster and better decisions.
Build-your-own Dashboard. With no line of code. Just Drag n Drop.
Want to screen your favorite indicators? Need a specific Dashboard for Sales, Marketing or Services department? The “Build-your-own” Dashboards are for you. Create multiple Dashboards and organise your indicators with responsive widgets (Graphs, Task list, Top Performance Breakdown’s Pie charts etc.) in just a few seconds!
Take Action, Engage your people.
Now you know your performances that are out of bounds. So far so good. But what happens when something is not good, or becomes the focus of an effort to improve results? We have disturbed the regular process of leaving your dashboard and tell someone to change something. With Bilbeo, all the interaction and the improvement process is done in the application. Start driving ownership on KPI’s and increase your chance to reach your goals…
What the signs your company needs an efficient BI solution ?
1. If it takes more than 4 hours to gather important figures, such as KPI, then you are at a severe disadvantage. The lack of real-time data means that you can not get a read on how your Business is performing until the annual finance reports come out. When it takes too long to take actionable decisions, your managers will take decisions based on intuition.
2. You are dependent on Excel. It is a great tool but all departments are collecting and working with data on different spreadsheets. A good Business Dashboard will bring all of those entities all together for a more streamlined process.
3. Your ability to reduce costs and increase profit is limited. Let’s say you want to reduce costs or have more ways to boost margins – – where would you start ? Without a 360-view into your value chain, your complete costs structure, timelines and critical variables, you would be making decisions based on guess work and intuitions.
If you want to grow your business, you need to have a clear view on what drive your business.
4. Your teams had already several issues with sticking with deadlines.
If you are regularly missing deadlines, it is an obvious sign that your current system do not allow you to be up to your business challenges.
5. You are facing a low adoption rate for your current system from employees or it makes their work even harder. There are chances they’re going to find a way to work around it. There should not be separation between your business and your ERP solution, they should belong to the same world. You need to look for a system which will grow with your business.
If you need more insights, please let me know, I will be glad to help.
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It’s time to turn data insights into action !