How to Beat the Goliath in Business Using Smart BI Tools

February 24, 2014 (PRLEAP.COM) Business News
The story of David and Goliath serves as an inspiration to many start-up entrepreneurs. Though new in business, they can still penetrate the market, grow their company and be successful. However, unless smart BI tools are not used, start-ups will remain a "small little boy" like David compared to giant Goliath-like companies. Thus, it is necessary for start-ups to invest in BI tools like mapping to help them with data analysis. online mapping for instance can help in extracting data meanings. This is a big step to take to aim for specific business target. It is used to measure data and provide timely help in early-stage planning, customer relationship, and risk reduction and management.

Mapping for Business Planning

Companies that create a map learned that mapping helps them to think and act quicker. As they visualize data especially using geographical boundaries, it helps them to analyze data in a broader sense without spending too much time on it. Much to their surprise, once their address locations data are plotted and their maps processed, the maps somehow becomes alive in a way that connections can clearly be seen between data sets. Information needed is always provided to help with creating the best business plan for the business.

Mapping to Enhance Customer Relationship maps allow its users to immediately identify many dierent factors like potential customers' purchasing habits, influences and others. As they plot different sets of data, they can determine future enhancements or new products to add or improve.

Mapping for Risk Reduction and Management

Mapping the geographic location of the business along with other data sets like customers' address locations as well as competitors' provides a clear visual about possible obstacles. By visualizing the risk, start-up entrepreneurs can easily plan the right approach for risk management.

Using the right BI tools like mapping can empower even the "underdogs," so to speak. Coupled with the right mind set, start-up entrepreneurs can definitely beat the Goliath in business.

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