Big Data. Analytics. Business Intelligence. It’s hard to read a business magazine or blog without running into an article that uses one of these terms to trumpet the necessity of objective measurements and data-informed decision making. Running a small business has always been (partly) a numbers game, but now there are more ways of quantifying business performance than ever.
Where do you start, and how do you figure out which numbers are the most relevant for your company? Cathy Iconis, a CPA who focuses on small business, explains that while business intelligence (BI) can seem intimidating, it doesn’t have to be. This is in part because most small business owners are already using it in their day-to-day operations, even if they haven’t purchased a software package or hired a consultant. Iconis also outlines some ways to take what you may already be doing with data even further and how doing so can yield even greater success.
Watch this space for more about business intelligence and other ways you can put data to work for your business.