ROI is one of the key performance measures for the profitability estimation. Even large enterprises normally desire a good return on investment. For SME’s it is more important to consider a good ROI due to their limits in financial bandwidth.
- When SME’s make decisions about their investments on reporting tool, the topmost common problems they encounter is the complex issue of how much does it return?
For any businesses to make investment sensible, the return should exceed the investment and also it would be prudent to keep the cost down in hiring experts, investing in infrastructure and maintenance. The money saved could be fruitfully utilized elsewhere.
Gaining $20,000 on an investment of $5000 with a lesser Total cost of ownership is a good example for optimum ROI.
What gets measured, gets managed. There is a need for the SME’s to assemble the assorted datasets and present the information as a single grid, dashboard or graphical view of business records for quick understanding. It saves the time taken to analyze for making decisions thus culminating the safe returns on the investment made. This level of data management can be accomplished in a flash and accurately with well-built BI. While spreadsheet appears to be cheaper options it requires frequent manual interventions, periodic version updates that invisibly adds to the unscheduled cost.
Let’s illustrate with an example. If we are planning for an infant’s expenses, one would need to give consideration to the infant’s immediate need along with the near-term and long-term needs. Any big investment in the current state won’t make sense as the baby’s current need won’t be similar to tomorrow’s need. One should carefully consider the baby’s growing nature. The “growth vs needs” continue to vary until it becomes fully grown adult. An organization is no exception! Some small investments have far-reaching effects.
It is important for the organization to invest in a reporting tool which not only fits the initial stage but also matures to become relevant as the organization grows. In order to serve the SME’s better, geniSIGHTS, a NASSCOM warehouse established company has come up with geniMini, cloud-based reporting, and data visualization tool. It associates a cost advantage offer of $150 per month. geniMini gives the advantage to start smaller and scale faster with geniSIGHTS Analytics, Analytics+ solutions.
Sounds interesting? https://calendly.com/demomini/2-min-demo.
Visit geniSIGHTS at http://www.genisights.com/