From Data to Action: Best BI Tools for Building Start-ups
Have you ever wondered why some start-ups are likely to grow faster while others remain stagnant or fail within a few years? The secret lies in how the business streamlines its operation and the tools it uses to stay ahead of the curve.
As you begin your business, plan for the best business intelligence tools to help you grow and drive your business ambition. With these tools, you can monitor every business function and activity, making the best decision while saving on costs. Eventually, you succeed without suffering from bankruptcy or having more debts.
If you are a start-up owner, here are some BI tools you can use to grow and nurture your business.
1. API Integrations
When you start a new business, you likely have different software and systems, each performing independent and different functions. At first, you may not see the need to integrate them to allow coordination, but later on, the need arises.
For start-ups, the need to integrate can be costly, and secondly, the capital to do so is limited as your entire focus is on growth.
Remember, one strategy to pursue sustainable growth is to have a reliable, seamless, and coordinated working system. This is why, at some point, you may be forced to integrate them to allow seamless and well-monitored operations.
This is where the API tools come in. Instead of generating different reports for all the systems, API integration tools help you generate custom BI reports addressing cross-functional business operations.
Such reports allow you to analyze business operations, efficiency, profitability, and competitive edge advantages in greater depth. They also allow you to monitor the sources of problems and challenges your business currently faces.
Once integrated, you have on-demand and real-time reports into business operations, enabling you to grow sustainably and monitor all outlets. Secondly, you no longer have to worry about system and software compatibility issues.
Finally, you have a real-time updated dashboard to monitor everything on your computer. This is the secret for an SME manager or owner who wants to stay ahead of the curve.
2. Microsoft Power Tools for SME
Every business will likely use various Microsoft products. The most used tools include Office for Business or cloud services, mainly Azure. This is because of their ready availability, simplicity, user-friendliness, and suitability for all business operations.
With this, there is no need to develop or configure other systems. Instead, you can dig deeper into Microsoft Power BI tools to find more accessories to boost your business performance. The one benefit of Microsoft is compatibility and user-oriented.
Every tool you get will be suitable for your business and designed for your needs. Perhaps all you can do is add some changes and add-ons to meet your business needs.
Before adding any new tool to your business software and system portfolio, consider your business needs.
Microsoft and Azure platforms contain a pool of different software and tools. It is also easier to find similar tools performing similar operations. Since you don't need redundancies, you must select the best one based on your needs.
You can select tools for improved decision-making, generating business reports, monitoring, dashboard creation, data exploration, and analytics.
3. Salesforce Quick insights
After streamlining your business operations, the greatest task should be deciding whether they have an impact. Focus more on evaluation when installing new system software or changing business functions and operations. This means getting real-time data insights and reports about the changes.
For such needs, you can install a system that performs various functions like data collection, analytics, and visualization to create insightful reports. Salesforce Quick Insight can monitor every business function and operation. This helps you get an instant response on the digital environment and updates on your business operations.
Besides the monitoring, this tool can give you a glimpse into the future through its predictive capabilities. Since it actively monitors business operations and activities, you can get updates about the changing market and consumer dynamics, enabling you to respond effectively.
Predictive analysis can also help you make key decisions about product choices, scaling operations, or using new expansion models like e-commerce.
Another reason to use this tool is its simplicity. Once installed and streamlined, you don't need expert help. You can query the software or use the report-generating tools and queries to gain insight into every business plan and operation.
4. Google Analytics for Small Businesses
As you begin your business, your greatest focus should be understanding your customers and delivering the best experience to all competitors. This calls for an innovative system that provides insights into customers, enabling you to offer the best services effectively.
Instead of spending more capital on complex systems, begin with simple ones like Google Analytics. It can help you optimize your website, converting more prospects into actual buyers. With this one move, you can increase your sales and attract more clients due to user-friendliness and competitive services.
Next, you need to leverage the GA campaign analytics tools. This will help you evaluate the impact of your marketing strategies. You can see the traffic generated from each campaign, including SEO, social media, and other digital strategies. From there, you can choose the most impactful and cost-efficient one, helping you save on costs while marketing effectively.
Bottomline
Your start-up should prioritize cost-friendly, effective, and efficient BI tools for your specific needs. There is no need for a big BI system, which may be expensive and unsuitable for addressing your unique business goals and challenges.
Finally, consider a flexible tool; you can expand its capabilities based on the expanding business needs.
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