(23-Apr-10) Turning masses of data into actionable information is a constant challenge for companies of all sizes, but when you're a small business in a highly competitive marketplace, it's even more critical to keep on top of trends.
You can struggle with spreadsheets and go with your gut feel, but to get maximum information businesses are increasingly turning to tools such as business intelligence (BI) and analytics software.
Wikipedia defines BI as “computer-based techniques used in spotting, digging-out, and analyzing business data, such as sales revenue by products or departments or associated costs and incomes. BI technologies provide historical, current, and predictive views of business operations.”