SMEs MAKE BUSINESS INTELLIGENCE

Small and medium-sized enterprises (SME), in Austria and Belgium also called small and medium-sized enterprises (SME), have long been increasing their turnover through effective business management using innovative software solutions in order to achieve their planned goals. Business Intelligence, a magic word in the controlling sector, which has been firmly established since the 90s. Simply described, it is the collection and analysis of data in order to make well-founded, strategic decisions. The overall growth of a company is the focus of attention.

It starts with simple structural concepts and coordinated partial solutions in the company, up to the noble version with highly complex system architectures such as, among others, multidimensional analysis, reporting and/or planning systems and, brand new, the connection of artificial intelligence.

WHO KNOWS THE FUTURE HAS THE NOSE IN FRONT

According to an older definition from 2011 of the BARC (Business Application Research Center) we understand Business Intelligence as a system, a technology, a process, which is supposed to facilitate the present and future management control of a company for the decision makers of a company on the basis of provided and qualified information. Today, the definition will certainly be somewhat different and will look more innovative and agile in order to achieve significant competitive advantages through the Business Intelligence factor. Topics such as future-oriented planning or analysis (Predictive Planning/Predictive Analytics) play an essential role and indicate the current direction in which we are heading. Much is currently being read about "marketing slogans" such as "Mining the Gold" or "Mining Data". The gold-digger mood in the field of data processing and data exploitation knows no bounds. So if you can plan and analyse with foresight, you are ahead of the game.

WHEN SMALLHOLDERS TAKE THE STEP

The first drink at the business meeting is ordered and in the conversation you hear "Business Intelligence is too big for us", "BI, no thanks, we don't have time for that" or "Excel is enough for us", but is that the right way of thinking? To take the next step as a small company in order to optimize or automate processes is enormously important for a company's long-term survival. Nobody demands to let a business and cost-intensive monster into the house, but as a medium-sized company you should check carefully if a smart solution for your business would not be quite reasonable. Knowing your numbers exactly in order to be able to plan in a future-oriented and targeted manner, without big surprises, is and remains the key to success.