How Big Does Your Business Need to Be for "Big Data"?

The concept of “Big Data” is often mistaken by smaller companies as a business building component reserved only for large enterprises. While this was true in the not-so-distant past, innovations in cloud technology have changed the definitions of data access and analysis substantially.

As a result, data-driven decision-making is at the forefront of business trends. The availability of business intelligence software vendors, robust data analytics tools, and technology makes it possible for companies of all sizes to better understand and leverage their data for insight and growth. Data is making its way into every department, from marketing and advertising to customer service and HR.

But, how big does your business need to be to begin reaping the benefits of Big Data?

Understanding Big Data beyond its buzz worthiness is key to planning how you can harness it in your business.

By definition, Big Data is a massive collection of all details and data about your business (or generated by your company and customers). Data comes from a wide variety of sources, both internal and external, and can come from all types of sources, from customer opt-ins on your website or landing pages, details entered in a mobile app, banking and other personal information collected for payments, customer service inquiries, and more. 

The true value of Big Data comes through analysis obtained by BI tool comparison done by using the best business intelligence software. Your data sets can be analyzed as a whole or in strategic subsets with the help of bi tool comparison matrix to reveal patterns and trends and give you deeper insight into the behaviors of employees, customers, and clients. 

This analysis performed by best business intelligence tools is computerized, making it possible to glean information from large data sets that would otherwise be too large or complex to mine for insights. Many business intelligence software companies are also leveraging Artificial Intelligence (AI) technology to automate data analysis and expedite decision-making through meticulous (but fast) analysis of developing business trends and patterns. 

Big Data is often met with polarized perceptions. Small companies are often daunted by the concept of data collection and analysis alone, and many shy away, assuming they aren’t yet big enough to embrace data analytics. On the other side of this spectrum are companies that consider data to be one of their biggest areas of opportunity and business growth, making business intelligence tools comparison and market analysis, and data analytics as a must-have in their business. 

The truth though, is that business software comparison and data analytics can benefit any company, of any size due to the customizable (and affordable) options available on the market, particularly cloud-based Business Intelligence (BI) analytics solutions by business intelligence vendors. Cloud-based BI solutions make it possible for small companies to compare bi tools and take advantage of the same types of business intelligence and analytics tools that enterprises rely on in their much larger businesses. Business analytics software comparison offers competitive advantages for companies of all sizes, giving small businesses more data opportunities much earlier than ever before. 

From the moment your company starts doing business, its generates data with BI reporting tools comparison. Collecting this data early on, and analyzing it by business intelligence products comparison can help you scale and grow much more efficiently and quickly through data-driven decisions.

Modern BI tools by numerous business intelligence vendors are available in the cloud that fit the sizing and pricing needs of even small businesses. You can connect your data sources online and begin measuring trends and insights by performing business intelligence tools comparisons from your laptop or smart, mobile devices. Cloud BI solutions and business intelligence products can give your small company a big advantage by supplying some of the same tools that large enterprises use for data analysis, that otherwise would not be affordable for a small business. 

Large businesses have larger data demands to consider when choosing which BI solution will best fulfill their needs, both in the volume of data and complexity of analysis after bi software comparison.

Enterprise BI software vendors offer robust suites of bi analytics tools that are designed to support massive data sets and more robust analytics and data integration points. Enterprise companies have the option of implementing on-site or cloud-based BI tools, but the overall trend in data analytics (particularly as more and more devices become connected to the internet in the IoT) is toward the cloud. Cloud BI tools offer real-time data analytics, bi tools comparison matrix, and advanced reporting configurations that large companies can use to dive deeper into the data driving their company forward. 

If you’re planning to shop for a business intelligence tool for your department or business, reading business intelligence software reviews is the very first thing you should do. Although choosing a business intelligence software might improve your business management strategy dramatically but you have to do your own research to review the websites of bi software vendors and read business intelligence reviews. The next important step you must take is; to compare business intelligence software. Compare the following features in business intelligence software:

• Data management
• Data integration
• Data analysis
• Data warehouse
• Automation
• Data visualization
• Data security

BI comparison combined with a business intelligence software review will help you decide whether the software you are choosing has powerful data management, data warehousing, connectivity, data analytics, processing, and manipulation features to keep your business competitive. Businesses are also concerned about the cost of business intelligence software, but before that try to use their free trial and test them out.

Like what you just read? At Wheelhouse, we are passionate about all things software, and our specialty is connecting software buyers to an enterprise solution that perfectly matches their needs. 

Please visit our BI Software page for a complete list of all the solutions we have on offer. Need more help? Drop us an e-mail at info@wheelhouse.com and we’ll be happy to assist you!