BI’s Overlooked Success Story: Mid-Market Companies
Business Intelligence

BI’s Overlooked Success Story: Mid-Market Companies

Now that Business Intelligence software has penetrated middle market companies with more affordable solutions, working with BI in mid-market companies is proving to be more rewarding for both the individual and the company. Mid-market companies have the ability to be more agile than enterprises and act on newly uncovered insights more quickly—causing both the individual and the company to be more productive.

Big Data Is One Size Fits All

In the past, BI and big data analytics were boxed into the enterprise market segment as only they were assumed to be generating the amount of data needed to justify a BI tool. Today, with the accumulating data from web, email, mobile usage and social media, customers leave behind a trail of information about who they are and what they want—and it’s growing exponentially. This is a goldmine of information waiting to be unearthed by mid-market businesses.

The Skyrocketing Amount of Data in the Cloud

Similarly, almost every business, regardless of size, relies on Cloud applications, storing all their transactional data in a CRM solution and vital marketing data in Google AdWords and Analytics. Big data and business analytics addresses this precise need for joining multiple, large data sources, including those on the Cloud, that are scattered across many applications in order to produce business insights that take everything into account. 

Companies that host lots of data on Cloud applications and want to add BI functionality must choose a BI tool that has the capability to store data in an extraordinarily efficient way--simply because there is often so much of it and it accumulates at a rapid pace. A BI tool that maximizes resource capacity and requires low-cost hardware will grant freedom to businesses that host in the Cloud to scale to the size of data in the future, as well as prevent costs from skyrocketing as data grows. Today, 43% of global mid-market businesses in the US, Europe and Asia are actively looking at Big Data technologies—and rightfully so.

It All Boils Down to Agility

That BI is no longer a luxury is relatively new, with only a few innovative business intelligence tools championing ways to utilize commodity hardware, and require minimum to no IT resources. Increased affordability has permeated the market and it’s another reason mid-market companies are becoming the BI success story. BI software that runs on standard hardware and is intuitive enough to be used and maintained by business users, truly levels the playing field between mid-market and enterprise. Suddenly, having big bucks does not unfairly grant a competitive edge to the big boys.

In fact, smaller companies not only can afford a BI tool to get valuable, competitive insights, but can react much quicker. This is causing the tables to turn as the agility of mid-market companies is lending smaller companies a competitive advantage. Since mid-market companies are able to respond quicker and get results faster, they are also starting to take unexpected bites out of enterprise-market shares.  

Coming Full Circle: Impact = Inspiration = Productivity

Mid-market companies’ fast response to insights is creating a full circle of inspiration: Individuals are using BI to be more innovative and creative, and mid-market companies are motivating business users by acting on their discoveries faster, thereby gaining the competitive advantage companies were looking for in the first place by implementing a BI solution.

A perfect example of employee inspiration using BI software is how Trupanion, the second largest and fastest growing pet insurance company in North America, uses a BI tool to motivate its business users. Hanging from the office walls at Trupanion are TV monitors showing department performance in real time. “Our dashboard shows our biggest claim of the day and our daily ‘number of pets helped’ to help motivate people and remind us all what we’re here for. We have customer service metrics visible by all departments so we can see how our efforts result in better experiences for our customers,” says TJ Houk Director, Business Intelligence at Trupanion. 

He also says that using a BI tool encourages innovation in Trupanion, and right now it is developing a groundbreaking software that can be installed on a veterinarian’s computer and allows Trupanion to pay the vet directly rather than the legacy model of a customer paying in full price and only later getting reimbursed by the insurance. When companies can monitor and measure KPIs in real time, business users get feedback fast, reinforcing their work and inspiring productivity.

The Next Big Thing: Empowering Everyone with Insights

Now that BI has successfully invaded the mid-market, how can these companies make the most of BI software? Three words: Insights for everyone. Giving business users a way to analyze their data and measure their productivity is a powerful way to boost a company’s efficiency. The key is to choose a BI tool that has major scalability on two fronts: scales to a large amount of users, and scales to large amounts of data. With more users come more queries, so it is also critical to make sure the BI tool won’t slow down and choke when a lot of people start using it to run queries. There is only one BI tool on the market now that can scale to that degree, but the future will certainly bring others.

 

Saar Bitner is the VP of Marketing at SiSense, the award-winning business analytics software that lets non-techies easily analyze and visualize big data sets from multiple sources. 

 

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Saar Bitner

Saar Bitner is the VP of Marketing at SiSense

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