The Role of Business Intelligence in Enhancing SME Growth and Market Competitiveness

EasyChair Preprint 15127

Abstract

In today’s data-driven economy, Small and Medium-sized Enterprises (SMEs) face increasing pressure to remain competitive and foster sustainable growth. Business Intelligence (BI) tools and strategies have emerged as critical assets for these organizations, enabling them to harness data to make informed decisions, optimize operations, and identify new market opportunities. This paper explores the role of BI in enhancing SME growth and market competitiveness by leveraging data analytics, real-time insights, and predictive modeling. It discusses how SMEs can use BI to improve customer targeting, streamline supply chain management, and foster innovation. Additionally, the study examines the challenges SMEs face in adopting BI, including cost, technical expertise, and data security concerns, while proposing solutions to mitigate these obstacles.

Keyphrases: Benchmarking, Business Intelligence (BI), Cloud-Based BI Tools, Customer Insights, Data Analytics, Market Trends, Predictive Analytics, Real-Time Insights, Small and Medium-sized Enterprises (SMEs), competitive advantage, data-driven decisions, decision making, growth strategies, market competitiveness, operational efficiency

@booklet{EasyChair:15127,
  author    = {Wayzman Kolawole},
  title     = {The Role of Business Intelligence in Enhancing SME Growth and Market Competitiveness},
  howpublished = {EasyChair Preprint 15127},
  year      = {EasyChair, 2024}}