Business Intelligence for Small and Medium-Sized Enterprises: An Agile Roadmap toward Business Sustainability

Business intelligence (BI) is a set of applications and technologies used to gather, provide access to, and analyze data and information about an organization's operations. It has evolved over several years to support routine operations and extract intelligence from non-routine and less-structured arrangements. SMEs can use BI techniques to develop agility and enhance their competitiveness by leveraging internal and external data and information assets to understand the key to a sustainable roadmap for business sustainability.

Format: Paperback / softback
Length: 166 pages
Publication date: 21 January 2023
Publisher: Taylor & Francis Ltd

Business intelligence (BI) has undergone a remarkable transformation over the years, as organizations have expanded their online transaction processing (OLTP) capabilities and applications to support their day-to-day operations. In addition, online analytical processing (OLAP) has enabled organizations to extract internal and external data from diverse sources to gain insights into non-routine and often less-structured arrangements. Consequently, BI encompasses a range of applications and technologies used to collect, organize, and analyze data and information related to an organization's operations. It possesses the capability to provide comprehensive insights into the more dynamic factors impacting the business and its operations, thereby enhancing decision-making quality and contributing to the creation of business value.

For larger and more sophisticated organizations, these capabilities have long been harnessed. However, the benefits of BI have not been limited to these larger enterprises. Small and Medium-Sized Enterprises (SMEs) have also begun to leverage BI to achieve their business goals. The book emphasizes that successful BI implementations have led to substantial revenue and cost savings, although failure rates remain high. Importantly, it highlights that a comprehensive range of BI capabilities is not solely the domain of large organizations. SMEs have successfully adopted BI techniques to develop the agility necessary to sense and respond to opportunities and threats in an increasingly dynamic business environment. This book serves as a guide for SMEs, enabling them to replicate the success of larger organizations in implementing BI.

One of the key insights provided by the book is that SMEs can effectively leverage BI to develop the organizational capability to sense and respond to opportunities and threats in an increasingly dynamic business environment. SMEs often face unique challenges, such as limited resources, tight budgets, and limited access to advanced technologies. However, by adopting BI, SMEs can gain a competitive advantage by making informed decisions based on data-driven insights.

The book also emphasizes that smaller organizations can play a larger role in the market environment. In the past, larger organizations had a significant advantage due to their size, resources, and market presence. However, with the advent of technology and the increasing importance of data-driven decision-making, smaller organizations can now compete with their larger counterparts. BI provides SMEs with the tools and capabilities to gather, analyze, and interpret data, allowing them to make informed decisions and compete on a level playing field.

Furthermore, the book explains that by adopting a holistic approach to BI, SMEs can maximize the benefits of their investments. A comprehensive BI solution typically involves a combination of technologies, such as data warehousing, data mining, and business analytics. By integrating these technologies, SMEs can gain a 360-degree view of their business, enabling them to identify trends, patterns, and opportunities that may have otherwise gone unnoticed.

In conclusion, Business Intelligence for Small and Medium-Sized Enterprises (SMEs) provides a valuable guide for SMEs seeking to leverage BI to achieve their business goals. The book emphasizes that successful BI implementations have generated significant increases in revenue and cost savings, although failure rates remain high. SMEs can effectively leverage BI to develop the agility necessary to sense and respond to opportunities and threats in an increasingly dynamic business environment. By adopting a holistic approach to BI and integrating a combination of technologies, SMEs can gain a competitive advantage and compete on a level playing field with larger organizations.

Weight: 310g
Dimension: 234 x 156 (mm)
ISBN-13: 9781032475400