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Are There Benefits to Implementing Business Intelligence for Small Business?

Business Intelligence (BI) is a process for analyzing data and presenting relevant information to business executives. It’s meant to help them make better business decisions and improve their overall performance. There are many benefits to using Business Intelligence for every business. Despite that, it’s still important to know what it can and cannot do for your venture.

While BI used to be exclusively for the ‘big boys’ (since they had the money for IT specialists and data centers), it’s now possible for small businesses to utilize BI to fulfill their different needs. This guide will cover some of the benefits your small business would get from using BI tools.

Large corps are no longer the sole users of BI

Times have changed since only large corporations could utilize BI to make more informed business decisions. It’s quite simple – if it can help large corporations make better decisions, why wouldn’t it be able to help small businesses do the same?

Technological boom in the past ten years has made this possible. Now, small businesses can successfully utilize BI to help their growth and financial decisions.

BI’s impact on business growth

small business growth

Every small business owner should be interested to know which products/services are successful and where. This is particularly important if expansion is in the plan. Business Intelligence allows you to this and more, by pinpointing popular trends in certain areas or within a certain population.

By relying on raw data instead on your instincts, you’ll be sure to lower the risks of decision making. It’ll be quite easier for your small business to reach that next stage of expansion.

Future planning

The best thing about utilizing Business Intelligence platforms is that it allows you to prepare yourself for the future. Adjusting your small business in line with the data you get from BI can help you reach your business’ full potential.

It’s also important to note that some businesses are already shifting from traditional BI towards predictive analytics. Being very cost effective, it’s no wonder that firms like Picnet software development company started using predictive analytics instead of the classical BI. It also saves a lot of time since it only uses extracts of internal data to get the same results.

BI helps you organize

You can easily deduct what’s working and what’s not regarding your management and staffing structure through BI analytics. You can also use it to better control your inventory since it will point out which products/services are most popular in a certain time frame. It will allow you to stock up on certain items and avoid any chaotic situations. This will ensure that your business stays cost efficient.

And if you ever reach that point where you no longer consider your venture to be a ‘small business’, then you can consider creating an analytics team to help you process the data.

business analytics

The security aspect

The security of most SMBs today is highly dependent on the exploitation of Big Data, though not directly. The thing is, many cyber security companies today employ big data analytics to battle the ever-growing stream of cyber-attacks.

What started out as a military technology aimed at battling terrorism has lately been commercialized and available to a broad spectrum of public companies. The system is based on a machine-learning model that analyze vast amounts of data, looking for suspicious patterns in “behavior”. Though it comes with a price, it is nothing compared to the price of losing one’s business in the aftermath of a major cyber-attack.

The importance of such systems is emphasized by the fact that 60% of all cyber-attacks are aimed at small businesses. The reason being the lack of defensive possibilities. Malware, DDoS and plain hacks can lead to customer distrust, loss of important data and hefty legal fines.

See Also: 9 Stats About Small Business Digital Marketing in 2017

Conclusion

Investing in Business Intelligence will make it much easier for you to understand how your business is progressing, why it’s progressing at that rate and where you’ll be if you don’t make any changes. This will make decision making so much easier and you’ll never have to rely on your business intuition. As you already know, low risk and high reward is the winning recipe for most startups and that’s exactly what BI brings to the table.

See Also: How to Ensure Growth in Small Business

 

The post Are There Benefits to Implementing Business Intelligence for Small Business? appeared first on Dumb Little Man.

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About Darren Webb

Hello & Welcome to my blog. My name is Darren Webb and i'm on a magical successful journey and also helping others have a more stress free relaxed life. I truly hope that you find a lot of useful information on my blog and that it helps you through your life. Please feel free to contact me at any time.

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10 Things to Avoid Before Going to Bed

You're reading 10 Things to Avoid Before Going to Bed, originally posted on Pick the Brain | Motivation and Self Improvement. If you're enjoying this, please visit our site for more inspirational articles.

After working for the whole day, running from one place to another, handling boss and irritating colleagues, the only thing which can make your day is a good sleep. But good sleep doesn’t mean lying in bed for 9 hours and still feeling exhausted after waking up. A good sleep means that even after taking 6 hours of sleep, you should feel recharged again to work for the whole day.
Although there are many things which you can do to get a good, relaxing and deep sleep there are also many habits which you should never follow before going to bed and in this blog post, we will be looking at those 10 things which you should always avoid before going to bed.

1. Alcohol
A small glass of wine before going to bed sounds like a fascinating idea and it surely will help you to fall asleep but if you are concerned about the quality of sleep and then you should never consume any type of alcohol before going to bed.

2. Mobile Phone
Many studies have shown that using a mobile phone, tablet, e-reader or even watching television before going to bed can disrupt your sleeping. So, if you want to experience a deep sleep, then you should always avoid any light-emitting device before going to bed.

3. Caffeine
Caffeine stays in our body for almost 10-12 hours and even a small cup of coffee contains at least 80 to 120 milligrams of caffeine. And you must be aware of the working of caffeine in our body and how the employees of late night shift consume it for staying awake. So avoid consuming any type of caffeine before going to bed.

4. Chocolate
If you are a sweet tooth then consuming chocolate after dinner as a dessert might sound like a very good idea but you should know that even chocolate contains a significant amount of caffeine and especially dark chocolate. So replace your idea of consuming dark chocolate with any other dessert which will not keep your eyes wide open even at midnight.

5. Big Meal
Devouring a big meal before going to bed can also disrupt your sleep. The reason behind this is after taking a big meal, your metabolism has to kick in and that can affect your sleep. It can also lead to gastroesophageal reflux diseases, weight gain, and other serious bad effects on your body.

6. Lots of water
Drinking water is very much necessary throughout the day but if you have completed the quota of your water consumption in a day, then there is no need to drink a jug full of water before going to sleep - it will result in unnecessary trips to the bathroom which obviously disrupt your sleep.

7. Wrong food
Including foods like a cheesecake in your everyday dessert sounds very delicious but you should know that, food products which are high in saturated fat and sugar are a major cause of disrupted sleep.

8. Smoke
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9. Exercise
Just like drinking water, exercise is also very much necessary for keeping you in shape and good health but doing it just before bed allows your-feel good hormones to get active and thus it can also affect your sleep.

10. Bath
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Saurabh Gupta is a technical content writer at Cloudwalks His area of expertise includes software, cloud computing, cybersecurity and life lessons.

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From the Experts: 6 Tips to Stay Motivated, Anytime, Anywhere.

You're reading From the Experts: 6 Tips to Stay Motivated, Anytime, Anywhere., originally posted on Pick the Brain | Motivation and Self Improvement. If you're enjoying this, please visit our site for more inspirational articles.

We all have our own moments of doubt, distress, and complete laziness. But what usually determines someone`s success or failure is your ability to stay motivated especially during their toughest times.  I`ve worked on this topic for years and below are some of the things you can do to stay motivated.

1. Work Your Negative Thoughts Out
Tony Robbins was right when he said the difference between you and success is the bullshit story you keep telling yourself. These limiting beliefs are keeping you in doubt and the only way to stay motivated is by exposing them to journaling and expressive writing. Studies have found that those who completed four weekly journaling sessions for eight weeks were less worried and more motivated, than those who didn`t.

2. Remove Performance Barriers
Tim Ferris has a simple learning technique that works like magic. Whenever you`re about to learn a skill or do something new, take some time to list all your reasons to quit.

Your goal, after identifying these barriers, is to complete the first five sessions of whatever you want to practice. Why five? Because that`s what your brain needs to create wirings for new habits.

3. Do Less of The Things That Aren`t Aligned With Your Goals
Sales mogul, Grant Cardone once shared a story about someone who worked with him at McDonald`s. Unlike Cardone who was only there for the money, this guy was super pumped to go to work. Why?Because his goal was to learn everything about the business and open his own McDonald`s franchises. Soon Cardone was fired and that dude went on to achieve his dream.

4. Create Necessity
Brendan Bouchard once asked a client, an Olympic sprinter, who he thought was going to win the race. And the man replied, “I will get on the guy who gets down at the blocks, looks at the finish line and says ‘I`ve got to do this for my mom."

This is the power of WHY. Whenever you lack motivation, ask yourself why, or for whom, do you want to reach that goal. If you keep digging, you`ll always find something worth working hard for.

5. It`s like a bath
“People often say that motivation doesn't last. Well, neither does bathing - that's why we recommend it daily.” - Zig Ziglar
You usually hear people saying, “I don`t feel motivated to chase my goals.” Well, maybe if you write them long enough you`ll eventually feel pumped to go after them.

You must commit to writing your goals at least once a day, every day regardless of how good or bad you feel because, at the end of the day, the quality of your life will come down to what you`ve chosen to pay attention to. So you`d better pay attention to something worthy.

When listing your goals, write down whatever makes you pumped. If “I`m making my first million before my 25th birthday” doesn`t motivate you, then think about listing all the things that you want to buy, or experience, when you make your first million. A trip to Italy, a courtside seat in a Lakers` game, spending X amount of dollars guilt-free…etc.

Forget about what others tell you goals should be, as long as the ones you`ve chosen make you feel excited then you`re good to go.

6. Get a Quick Jump on the Day

It`s much easier to change feelings with action that to do it the other way around. Why? Because you have more control over actions than over feelings. As William James once said, "By regulating the action, which is under the more direct control of the will, we can indirectly regulate the feeling."
If there`s one nugget I want to leave you with then let this be it: Productivity comes before motivation and not the other way around. This is why you must start the day with a bang regardless of whether you`re an early bird or a night owl.

The quicker you start the day with a victory, the more motivated you`ll feel during the rest of it. So cut Facebook, meaningless texting or T.V., and focus all your efforts on getting something done.

Any sort of productivity, no matter how small. Just remember that once the ball starts rolling you`ll feel motivated to get more done. An object in motion will stay in motion, so sayeth the law.

Marwan Jamal is a fitness and health blogger at healthline.com and a great fan of the gym and a healthy diet. He follows the trends in fitness, gym, and healthy life and loves to share his knowledge through useful and informative articles.

You've read From the Experts: 6 Tips to Stay Motivated, Anytime, Anywhere., originally posted on Pick the Brain | Motivation and Self Improvement. If you've enjoyed this, please visit our site for more inspirational articles.

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