If you have read my last two posts and are interested in applying BI to your business, how do you get started?
I would be begin by deciding what success look like for your business, and this should be a balanced view taking in such factors as:
The above is not an exhaustive list, just your starter for ten, I am no strategy consultant. Anyway moving on, for each area above you come up with you need to be able to do the following:
These metrics would then be combined to form a scorecard- a one page overview divided into 4–6 headings like those above each with a set of metrics underneath. This then provides the big picture on how your business is doing. Having established that you then need a set of analytical tools to help you discover what is happening behind these metrics when things don’t go according to plan. and that will be next post.
For those who do not follow Andrew Fryer's blog, it is worth checking out his posts on Business Intelligence
BI for one's own business need not be complicated but targets and scores need to be kept.
Here are a few of my suggestions:
Finance Cash flow, without it you are dead.
Growth Sales must grow and new customer numbers increase
People Happy people stay, watch your exits.
Innovation Are your product lines or services increasing?
Social Responsibility Letters of thanks and mentions in the local newspaper.
Business survival is based on more coming in than going out!
I think there is a lot about BI that Small Business could be using. It just a matter of letting them know they could do it.
Of course, nobody can do it all in only one blog post. That's what makes your post even more important. It shows us that it is possible to talk about BI for Small Business in small posts in an understandable way.
Congratulations for that.