By: John Tomblin, Senior Solutions Architect
Data Titan, a division of Sofvue, LLC
Printed with permission of Data Titan, Sofvue LLC, and the author
Mobile applications provide an exceptional platform for gaining insights into customer behavior, identifying needs, and enhancing services. In fact, leveraging big data and small business analytics, customer-focused companies can make significant gains in interpreting data. With the growing demand for mobile app development, integrating business intelligence (BI) into small business operations becomes a logical progression.
In simple terms, Business Intelligence (BI) is the process of using technology and data to help businesses make informed decisions. It involves collecting data from various sources, organizing it, and turning it into easy-to-understand reports, dashboards, or charts. This helps companies spot trends they would otherwise never consider, track performance, and make informed choices to improve operations
BI encompasses a range of interrelated processes, such as data mining, online analytical processing (OLAP), querying, and reporting. Additionally, BI systems often incorporate advanced technologies like data warehousing, business performance management (BPM), benchmarking, text mining, and predictive analytics.
As of 2021, the Business Intelligence (BI) market was experiencing significant growth. According to a report by Mordor Intelligence, the global BI market was valued at USD 20.516 billion in 2020 and was projected to reach USD 40.50 billion by 2026, growing at a CAGR of 12% during the forecast period (2021-2026). Similarly, a report by MarketsandMarkets estimated the BI market size to grow from USD 23.1 billion in 2020 to USD 33.3 billion by 2025, at a CAGR of 7.6% during the forecast period.
Small businesses often operate with limited resources, making every decision critical. BI tools provide accurate, real-time data to help owners and managers make informed choices about operations, marketing, and customer engagement.
In small businesses, decisions often have a greater impact than in larger organizations because resources are limited, and mistakes can be costly. Business Intelligence (BI) equips decision-makers with data-driven insights, reducing reliance on guesswork or intuition.
For example:
➔ Sales Performance: BI dashboards can show which products or services generate the most revenue, enabling businesses to focus on high-performing areas.
➔ Budgeting: Analyzing historical expense data can help allocate resources more efficiently.
➔ Real-Time Updates: BI provides up-to-date information, allowing business owners to respond quickly to market changes, supply chain issues, or unexpected trends.
The result is not only better decisions but faster ones, ensuring that opportunities are quickly capitalized, and risks are mitigated.
Understanding customer behavior is crucial for growth. BI helps identify buying patterns, preferences, and needs, enabling businesses to tailor products, services, and marketing efforts to better serve their target audience.
Customers are at the heart of every small business, and understanding their needs is key to long-term success. BI tools analyze customer data collected from various sources, such as point-of-sale systems, websites, social media, and mobile apps, to uncover valuable insights.
Examples include:
➔ Personalized Marketing: Segmenting customers based on demographics, purchase behavior, or preferences helps tailor campaigns to specific audiences.
➔ Customer Retention: By identifying patterns like declining purchase frequency, businesses can intervene with loyalty programs, discounts, or personalized outreach.
➔ Customer Feedback Analysis: Text mining and sentiment analysis can evaluate reviews and feedback to address issues and improve services.
These insights enable small businesses to not only attract new customers but also build stronger relationships with existing ones.
BI systems streamline processes by identifying bottlenecks and inefficiencies. For example, analyzing supply chain data can reveal opportunities to cut costs or improve delivery times.
Efficiency is critical for small businesses where every resource—time, money, or labor—counts. BI identifies inefficiencies in operations and provides solutions to improve processes.
Specific examples include:
➔ Supply Chain Optimization: BI can analyze procurement, inventory, and delivery data to prevent overstocking or stockouts.
➔ Employee Productivity: Insights into task completion rates or sales performance can reveal areas where additional training or tools might improve productivity.
➔ Workflow Automation: BI systems can identify repetitive tasks that could be automated, saving time and reducing human error.
With these improvements, small businesses can allocate resources more effectively, reduce operational costs, and achieve greater profitability.
In today’s fast-paced market, staying ahead requires quick adaptation to trends. BI tools allow small businesses to monitor market shifts, competitor strategies, and industry developments.
In competitive markets, small businesses need every advantage to stand out. BI tools provide insights into market trends, customer preferences, and competitor strategies, enabling businesses to stay ahead.
For instance:
➔ Market Trends: Predictive analytics can forecast demand for products or services, helping businesses anticipate and prepare for changes.
➔ Competitor Analysis: BI tools can track pricing, promotions, and market positioning of competitors, allowing small businesses to adjust their own strategies.
➔ New Opportunities: BI can identify emerging markets, demographic shifts, or underserved niches, giving businesses the chance to expand or diversify before competitors.
By leveraging these insights, small businesses can carve out a unique position in their market and attract customers who might otherwise go to larger competitors.
BI helps businesses identify new opportunities, such as untapped markets or potential partnerships. These insights enable small businesses to scale operations strategically.
BI systems help small businesses identify growth opportunities and scale operations in a sustainable way. Growth often involves risk, but BI minimizes that risk by providing reliable data to support expansion decisions.
Examples of BI-driven growth strategies include:
➔ Market Expansion: Identifying locations or demographics that have high demand for a business’s products or services.
➔ Performance Benchmarks: Tracking progress against industry standards or competitors to determine readiness for growth.
➔ Strategic Investments: BI can highlight areas where investments—such as in new technology or additional staff—will deliver the greatest return.
➔ Scalable Infrastructure: BI tools themselves are scalable, meaning as a business grows, the same tools can handle larger data sets and more complex analyses.
This data-backed approach ensures that businesses grow strategically, avoiding pitfalls and focusing efforts where they will yield the best results.
Implement real-time data collection and reporting to provide immediate insights within the mobile app.
➔ Examples: A retail mobile app that tracks real-time inventory levels or a fitness app showing real-time performance metrics like heart rate or calories burned.
➔ Tools: Use APIs or SDKs for real-time data streaming and visualization, such as Google Analytics for Firebase or AWS Kinesis.
Monitor in-app user activity to understand behavior patterns and optimize the app’s features.
➔ Examples: Tracking which features are most or least used or analyzing session durations and drop-off points to improve the user experience (UX).
➔ Tools: Mixpanel, Flurry, or Amplitude can help gather and analyze user behavior data.
Allow users to view personalized BI dashboards tailored to their preferences or usage data.
➔ Examples: A financial app showing custom spending trends or budget forecasts, or a business app displaying sales performance metrics specific to the user’s role.
➔ Implementation: Use libraries like Chart.js, DevExpress or Highcharts to build visually engaging dashboards.
Use historical data and machine learning models to predict future trends or behaviors.
➔ Examples: An e-commerce app predicting items a user might want based on past purchases or a healthcare app forecasting health risks based on historical data.
➔ Tools: TensorFlow Lite, PyTorch Mobile, or BigML for predictive modeling.
Provide functionality for users to access and analyze BI data even without an internet connection.
➔ Examples: An app for field agents storing locally relevant customer data for later synchronization or an educational app offering offline progress reports and insights.
➔ Implementation: Use local databases like SQLite or Realm to store data securely.
Include compelling, interactive visuals to make BI insights more accessible.
➔ Examples: Use interactive graphs, charts, or heat maps showing trends or key metrics, or infographics summarizing complex data for quick understanding.
➔ Tools: Use D3.js, Plotly, or Tableau Mobile SDK for professional-quality visualizations.
Use AI algorithms to uncover deeper insights and automate decision-making processes.
➔ Examples: A chatbot within the app answering BI-related queries, such as current sales performance, or Natural Language Processing (NLP) for summarizing large datasets into plain language.
➔ Tools: OpenAI’s GPT-based models, IBM Watson, or Microsoft Azure AI.
By incorporating these methods, you can create a mobile app that not only delivers value to users but also leverages the power of Business Intelligence (BI) to drive actionable insights and optimize your company’s overall efficiency.
Business Type: A small boutique clothing store with both in-store and online shopping.
BI Implementation facilitates tracking user behavior to identify frequently browsed product categories and pinpoint where users abandon the purchase process. It provides personalized dashboards that highlight purchase history and recommend items tailored to individual preferences and browsing patterns. Additionally, BI analytics optimize inventory management by highlighting slow-moving stock and forecasting seasonal trends, enabling businesses to align stock levels with demand effectively.
Results:
➔ Increased online sales through personalized recommendations and targeted promotions.
➔ Reduced inventory waste by aligning stock levels with demand patterns.
➔ Improved user retention with insights that drive personalized marketing campaigns.
Business Type: A small family-owned restaurant offering reservations and food delivery services via an app.
BI implements data to analyze peak dining times and optimize reservation availability, ensuring efficient table management. It tracks customer ordering patterns to recommend popular dishes and create personalized offers, enhancing the dining experience. Additionally, predictive analytics forecast delivery service demand based on factors like weather, holidays, and local events, enabling better planning and resource allocation.
Results:
➔ Reduced waiting times and improved customer satisfaction by optimizing reservation and delivery scheduling.
➔ Boosting revenue by offering tailored discounts and promotions to repeat customers.
➔ Better workforce planning with accurate forecasts of busy periods.
➔ Business Type: A small fitness studio providing personalized training plans and virtual coaching sessions.
BI implementation monitors user activity data, including workout frequency, calories burned, and progress toward fitness goals, providing real-time performance insights through interactive dashboards. It also analyzes membership trends to identify churn risks and recommends retention strategies, such as offering free classes or personalized follow-up calls, to enhance user engagement and satisfaction.
Results:
➔ Increased user engagement with real-time performance feedback and progress tracking.
➔ Improved retention by identifying and addressing users at risk of dropping out.
➔ Enhanced marketing efforts with insights into user preferences and peak times for app activity.
These examples demonstrate how small businesses can leverage BI in mobile apps to gain insights, enhance customer experience, improve operational efficiency, drive growth and profitability.
Business Intelligence (BI) is a game-changer for small businesses, offering data-driven insights to improve decision-making, enhance customer understanding, streamline operations, and identify growth opportunities. By leveraging BI tools, small businesses can optimize their resources, respond quickly to market changes, and gain a competitive edge in their industries. Real-world examples, from boutique stores and restaurants to fitness apps, demonstrate how BI can personalize customer experiences, predict trends, and improve operational efficiency. For mobile app development, integrating BI features such as real-time analytics, user behavior tracking, and predictive modeling ensures functionality that drives actionable insights and user satisfaction. By adopting BI, small businesses not only enhance their immediate operations but also set a strong foundation for long-term growth and scalability.
At DataTitan.com, we design, build and manage mobile apps using BI-powered mobile applications that take advantage of BI technology and tools, yielding smarter decisions quickly and efficiently. Since 2004, we have completed over three hundred projects, including web-based applications, apps, MVP’s, databases, and consulting services for companies coast-to-coast. Working as your development partner, our BI experts and developers work alongside you and your team to provide the best possible solutions for your business. To learn more, read case studies or talk to one of our business consultants, contact us at 623-845-2747.
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Citations:
Mordor Intelligence: https://www.mordorintelligence.com/industry-reports/global-business-intelligence-bi-vendors-market-industry
Markets and Markets: https://www.marketdataforecast.com/market-reports/business-intelligence-bi-market