Business managers and owners use the Business Intelligence dashboard to make better-informed business decisions. Decision-making accuracy can help a business to make swift progress. For better decision-making, business owners use various Business Intelligence services. Some businesses develop their customized business intelligence tools. However, small businesses may not afford to develop such tools initially. Thus, they look for ready-to-use BI platforms.
Microsoft has a business intelligence tool to aid startups and small-scale businesses. The tool is known as SharePoint. Using the tool as a front-end business intelligence system is beneficial for many reasons. The system is poised with rich features to make the business intelligence process convenient. Using the system brings the following benefits for your business.
1. An Efficient Business Intelligence Platform
Business owners and managers seek an efficient Business Intelligence (BI) dashboard. Decision-making accuracy depends on the efficiency of this tool. Thus, a business should not compromise on the efficiency of the software.
SharePoint is an efficient tool with many features. The system offers a powerful and feature-rich dashboard to business owners. You can check reports on the dashboard easily in different formats through graphs and charts. Understanding the data trends will help you to make a more profitable decision for your business. Nevertheless, data analytics is also essential for adopting future business management strategies.
2. A Cost-effective System
Every business wants cost-effectiveness, as reducing the operational cost increases profitability of a business. Moreover, small businesses find difficulty affording the expensive tools that also seek a hefty expense on maintenance.
Microsoft SharePoint, a decent BI dashboard platform for businesses, is affordable for small businesses, and the desktop version of the software comes for free. As your business keeps growing, you can migrate to the Pro version from the Basic version of the system.
You can customize the tool depending on the business requirements. For customization and integration of the system, you need to find professional and reliable SharePoint development services.
3. Predictive Forecasting
The future is uncertain, and that is why people plan for their future. Not only individuals but also businesses need to plan for future goals. A business that does not have a proper plan for the future may lose focus. Due to the loss of focus, the business can stop growing revenue any further.
For planning future goals, business owners need a business intelligence dashboard that offers predictive analytics, and SharePoint offers visualizations for the future through graphs and charts. Using those graphs and charts, business owners can assess the strengths, risks, and opportunities.
4. Version Tracking and File Management
SharePoint is an excellent tool for document management. A business has to deal with various documents every day, and tracking the documents and systematically managing them are the key things for the success of a business.
The document library of SharePoint offers many premium features such as master data, check-in, check-out, content types, security, workflow, version control, and many more. All these features help the organization to have better control over the data. Efficient data management also helps the business to obtain powerful and accurate business analytics.
5. Data Security with SharePoint
Security of the business data is a significant concern for every business owner. Does this BI platform offer seamless security? SharePoint uses the Active Directory security model. Using this model helps the platform to offer Group Security to businesses. The admin can restrict content and user experience for a certain group. So, overall, the tool offers decent data security to small businesses and startups.
If you use other business data intelligence systems, you can migrate to SharePoint through SharePoint migration services. For small enterprises, this tool from Microsoft is highly beneficial.