Author: Pamela Swift

Traditionally, for employing BI, you need to build data centers and recruit IT-specialists. Therefore, until recently, this privilege was only availed by big-chip organizations. But the times have changed. With the evolution and expansion of the IT industry, we have witnessed a dramatic plummet in the costs of sophisticated Business Intelligence software.

Today, even cash-strapped setups and small startups use them. And as effortlessly as they use Spectrum Internet offers. According to a report, the analytics and BI market are predicted to grow up to as much as $20 billion by the end of 2019. If you are a small business owner, it is your first-ever chance in history to take advantage of the most innovative and effective BI tools! You will get to track the overall performance and make decisions based on data.

Why Establish a BI Strategy?

You need to have a strong BI strategy for your own benefit. If done correctly, it can prove to be extremely powerful for your business success. But what is the key to getting it just right? The key is to have a comprehensive strategy that essentially combines futuristic predictive analytics and historical BI.

Explore how developing a solid BI strategy can strengthen your business.

Fruitful and Fast Data Analytics

Do you think creating a digital marketing strategy is enough? Well, it’s not. If you want to make the most of it, you have to analyze the effectiveness regularly. That’s exactly where BI steps in. BI tools are specifically beneficial when it comes to small startups and businesses.

Small setups are low on budget and can’t afford to hire full-timers dedicated only to business analytics. Instead, they can just equip the current employees with effective analytics tools to assess the performance. These software programs come with simple and easy-to-use, drag-and-drop dashboards. They are easily accessible. That means you don’t have to spend on extensive employee training to enable them to use them.

Customer Intelligence becomes Your Crystal Ball

Who doesn’t want valuable insights into their customers’ behavior that can help in estimating their buying patterns? In addition to acquiring, maintenance of a base of loyal customers is also crucial to the growth of your business. To have satisfied customers, you need to know them. You should also have the ability to predict the needs of your customers. That’s where you need to implement customer intelligence tools.

Yes, the BI tools are not crystal balls. But they use an algorithm to contextualize the past behaviors of your customers. They will reveal certain trends, which will help you make rational and better business decisions. In the retail industry, predictive analytics play a fundamental role. You can collect and summarize consumer data in order to predict the upcoming purchasing trends, optimizing the prices, and estimate the industry demand.

Flawless Customer Reports

For business owners, nothing is better than nicely arranged data. Your clients also want the same. But having to collect data from multiple resources, organizing it, and then creating never-ending client reports is a monotonous and daunting task.

To make the process faster, just switch from the manual analysis to the solutions, based on automated client reporting. They offer actionable insights and real-time analysis. And you get to have it in a clutter-free, neat format. And you get to keep a track of all the important KPIs on one dashboard. You can also use data visualization software to create difficult charts automatically without spending any extra hours on design and formatting.

Enhanced Workplace Collaboration

Smooth and effective communication between all the teams at a workplace is mandatory. Implementing Business Intelligence will enable faster and effective data transmission and storage. Your employees will be able to access and share files instantly. And that’s irrespective of where they are located. If you move your teams to this digital landscape, it will enable you to recruit remote resources. You don’t have to essentially hire in-house experts. Imagine how much you can save like this!

Whether you want to go for a traditional workplace or you choose to have remote employees, it is advisable to invest in BI tools for boosted collaboration. Take the instance of cloud services in BI. They can boost the overall collaboration as well as optimize the service levels. They will help you minimize costs and maximize productivity. And all you need is a smooth internet to do all of this.

You can even save money there, and settle for Spectrum Internet Assist package, created for low-budget families and setups.

It’s been more than a decade since the real estate market hit its low point, and today it is more active than ever, with many people finding real estate investment projects to be the best way to balance out their portfolios. It’s easy to understand how real estate becomes attractive as an investment, and it has been a core part of many portfolios for years. Today, new opportunities for investors have made the market even more attractive, with many investors at every level finding that they can realize a higher rate of return with a lower risk than through many other investment channels. The forces that created these markets are unique, and they might not last forever, which is why any approach to real estate investment needs to take a balanced view, using both traditional strategies and new paths to build an income.

Short-Term Rental Booms

One of the biggest reasons for the sharp uptick in real estate returns is the increase in short-term rental investments. Not only do short-term and seasonal rentals provide a great part-time income opportunity in areas with strong tourist economies, they are proving more and more important in business as travel for work becomes a norm in more careers. Cheap air fare and accessible public transportation have coupled with a global economy to create an entire class of highly mobile individuals who live large parts of their professional lives in transit, so providing corporate suites and lodging to short-term clients has become a great new way to round out a portfolio. There are a few pitfalls to look out for, however.

• Not all short-term rental platforms are created equally, and not all of them are equally conscientious about local real estate ordinances
• Cities have moved to curb the activities of large operators, especially when they act as an alternative to hotels
• Private corporate offerings do not have the same set of regulations as private lodgings like apartment sharing apps

Make sure you fully understand the investment landscape before engaging with today’s booming short-term market, because the potential for high returns is not a guarantee. Knowing the risks is the best way to avert them.

Home Purchases as Investments

Whether you’re looking for a vacation property, a seasonal home for part of the year, or a full-time house for yourself, investing in property and occupying it is a great way to increase your net worth while enjoying your life. Many successful entrepreneurs take this attitude, cultivating a practice of home buying that seeks out unique architecture and vibrant local communities to provide investor-owners with a beautiful home they can upgrade while they occupy that is also likely to increase in value on its own because of its location. One great example of this is the Chris Sacca home in Manhattan Beach, CA. Mr. Sacca is a regular guest on the show Shark Tank and a successful investor with a net worth of $1.2 billion, demonstrating how this investment strategy continues to serve you as your holdings grow.

Commercial Real Estate Investment

Office space has been in high demand around the country for the past few years as more and more companies incubate to the size where their operations scale up to the global marketplace. While the demand for new offices has receded somewhat in many markets, there are also many where it is going strong into 2019 and likely to stay strong. Even in those areas where new office developments are in lower demand, investing in commercial properties like restaurant spaces and retail complexes can provide opportunities as those businesses provide support for the recently built office buildings’ inhabitants. There’s also a lot to be said for competing against existing office space by providing more energy-efficient buildings with better amenities.

Commercial real estate is a great place to put investment money if you research the local market and find your niche, but it is also diverse enough that an operator who doesn’t really understand what is happening locally can make some pretty costly mistakes. Not every location has the same needs, and the shape of the local industrial and commercial economy will dictate the shape of the commercial real estate market. Still, in a portfolio that looks to manage its risks and opportunities within real estate to ensure real estate is a stable cornerstone for other investments, commercial properties play a key role as high-value resale holdings and strong income earners.

Is It Your Time To Invest in Real Estate?

It takes a mixture of working capital and knowledge to make the commercial real estate market work as an investor, but if you are looking to hold properties for the long-term, it can be a great stabilizing influence for your other investments. The key is to approach it like any investment. Be skeptical of boom hype, look for opportunities that aren’t clogged with other investors, and remember that once a trend hits the mainstream news, it’s probably too late to maximize its potential. If you follow those basic rules, you should be able to find your best opportunities locally.