Every small business owner knows that competition is tough, but he may not be able to determine what changes are necessary to get to the top. Doing business, as usual, may no longer be adequate. Investments in technology now available can be a big help or breaker Bank. It seems that most business and home-based small businesses are either starving (they do not have enough technology) or they are obese (they have it all part of the new technology, which dropped the spear).
There are, however, some fairly new technology that requires every owner of a small business or home. It can answer questions like; how small businesses can identify important trends, identifying existing hot demand and make better decisions more quickly? Answer: business intelligence software. Business intelligence is the crystal ball of the 21st century.
The purchase of business intelligence (BI) software is one of the most strategic investments that a business can make. Using data mining, reporting, and querying, BI helps businesses understand, monitor, manage and respond to specific situations. This software empowers decision-makers – and staff – to connect the dots around the main business numbers in a way previously unimaginable. BI helps you to know:
· Which customers are profitable?
· Customers, who appear profitable but are not?
· Are you close to – or away from – reached an important milestone?
· When is the best time to launch a marketing campaign?
· What are the best performers last quarter of the products or services?
Business Intelligence software may be more of an investment than a small business can bear. This certainly could be pricy. business or small home business owners, however, can subscribe to the Internet service BI at a fairly reasonable cost. There are several to choose from.
eBay also published the “Hot Items” list the first week of each month. It provides valuable information for eBay sellers who use drop shippers.