Fact-based decision-making is the Holy Grail of business management and just as elusive. With each doubling of processor speed and new algorithm “facts” remain stubbornly open to interpretation. Management decisions are still a roll of the dice because after all the data is analyzed decisions still amount to a choice between alternative viewpoints. Yet now after decades of chasing the Holy Grail the “facts” indicate that analytics are going mainstream-!
Analytics software has historically experienced hot and cold cycles and is currently hot (click HERE for the eWeek article). This time corporate customers are demanding cloud offerings in order to avoid the high cost of a software project. Cloud offerings will take time to mature but the days of long expensive business intelligence implementations are numbered and that’s good news for business of all sizes.
Is there an easy way executives can use analytics in their business right now?
Today the simplest way is with cloud-based blogs. WordPress has analytics built-in that give real-time feedback to bloggers (the graph below depicts real-time spikes of read activity). Real simple tools help you be more responsive.
Small business can use blogs to communicate with customers. With each new post on your blog a notification can be auto-sent to customer emails freeing you to concentrate on your message rather than IT-stuff. Real time feedback gives you facts about customer interest. Services like WordPress, Blogger, and Tumblr host blogs for free (there’s a small charge for your own domain). You incur no IT costs, no software installation, no servers, no backup, etc. You need a browser and an internet connection. That’s it. Using blogs to manage communications is the biggest bang for your buck in information technology today because you get built-in notifications and business analytics for free.
Is the Holy Grail as elusive as ever or is it time for small business to enter into analysis?
If you’re still skeptical of the power of analytics to save humanity read this article:
“IBM Takes Watson to the Cloud”