Studying the effectiveness of Business Intelligence tools for SMBs

Project Brief

A global tech company wanted to conduct research & evaluate the Business Intelligence (BI) tools utilized by SMBs in the USA and Europe. The mandate from the client was to get insights from feature benchmarking and user interactions, across the BI platforms, with a specific focus on their reporting, insights, and guidance capabilities. The findings of this research will be used to enhance their product positioning.

Business intelligence (BI) tools are indispensable for SMBs (small and medium-scale businesses) seeking to make informed decisions. According to recent market reports, the global business intelligence market is projected to reach $33.3 bn by 2025, growing at a CAGR of 7.6% from 2020. Poor data quality costs businesses an average of $15 million per year. Consequently, 60% of organisations are now using data analytics to drive business innovation and improve their decision-making processes. As the market for BI tools expands, evaluating their effectiveness and identifying opportunities for innovation becomes essential.

Turian Labs' Approach

We started with a comprehensive evaluation of 15 distinct business intelligence tools against the parameters in focus - Reporting, Insights, and Guidance. 

This secondary research aimed to identify common functionalities and unique features across these platforms, including AI integration and personalisation options.

Building on insights from our secondary research and feature benchmarking, Turian Labs conducted 60-minute remote in-depth interviews with small and medium-sized businesses (SMBs) of varying sizes and roles from the USA and Europe. We engaged with participants who use various business intelligence (BI) tools, including Google Merchant Center, Amazon Seller Central, eBay Seller Central, and Microsoft Advertising. Additionally, we evaluated specialized tools such as Intuit QuickBooks and Adobe Magento. Recognizing the importance of social platforms in business promotion, our team also analyzed the usage and effectiveness of TikTok For Business and Facebook Commerce Manager in this context.

This enabled the formulation of hypotheses regarding merchant preferences for BI tools and provided a detailed evaluation of the features related to reporting, insights, and guidance offered by each platform.

Output and Impact:

The reporting capabilities, data export mechanisms, customization options, AI integration, customer support quality, and mobile app functionality varied significantly across platforms. This variability often forced SMBs to use multiple platforms to fulfil different needs. Our nuanced understanding of how each platform supports merchants with BI tools has facilitated strategic decision-making and identified potential enhancements to the client's offerings.