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Every entrepreneur wants their business to succeed: that is, after all, why they’re in business. That said, it’s common knowledge that most start-up businesses fail within the first five years. A combination of factors contribute to this but many of them can be overcome. For example, technology puts so much social and organizational data at our disposal, it is difficult to figure out how to manage it all.
As a small business owner, you are probably inundated with information. How do you make sense of it all and find the time to effectively manage multiple projects, relationships, and business opportunities. How do you keep our finger on the pulse? The key to success can often be as simple as making sense of all that information.
One of the best ways to do this is to make use of Business Intelligence (BI) or reporting tools such as Sage Intelligence to help you. In its simplest form, BI is the ability to accumulate, organize, and analyze data in a useable format to give you better business insight, which allows you to make informed business decisions, which can give your company a competitive edge.