Tuesday, January 14, 2014

SMB behaviors toward Analytics

This week, the Bimotics team is headed to the annual Small Business Expo in Miami, one of the largest of its kind in South Florida, where hundreds will be in attendance. While we are using this opportunity to network and learn more about a wide range of small businesses and their reporting and analytical needs, we will be listening specifically for feedback as to why small businesses feel challenged when using data and analytical information. We will also be listening for reasons that prevent them from investing in metrics/analytics in the first place.

As our products continue to gain traction in the marketplace, it is critical to us to understand what makes businesses continue to use metrics and what causes businesses to stop using them once they have been established and measured. We are advocates on the subject and firm believers in the need for ongoing diligence in monitoring the health of a business through metrics.  
Bimotics has always assumed that the SMB would not adopt and continue to use analytical dashboards as long as they remained complex and expensive.  This is why Bimotics has been so meticulous in our efforts to make sure our designs are easy to use, intuitive and plug and play, and affordable. Our solution hits the sweet spot where specialized (and previously unaffordable) IT is made economical and easy, thereby solving the total cost of ownership challenges most small businesses run into.
We want to ensure that businesses continue to use, enjoy, and profit from business analytics, and we look forward to further validation and feedback at the expo.  In an effort to gain a holistic look at SMBs attitudes toward analytics we will be taking notes on the following:
  • Relevancy of analytics day-to-day operations and long term objectives
  • Sophistication of the organization and the desire for convergence of data across people and teams
  • Financial acumen and overall knowledge of metrics and their uses
  • Preferences for the graphical representation of data
  • Technical skill and quality of in-house data
  • Time and staff devoted to financial and business analysis
We are looking forward to it and we will keep you posted.

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