There are many unique challenges and approaches when it comes to running a successful small business. In many ways, running and managing a small business is very different than running a larger company. But not when it comes to data collection and analyses.

Careful, comprehensive and live figures can aid sales analyses, forecasting, marketing planning and general business intelligence. Many small companies think this level of analyses is simply pointless for a smaller company. That it’s a complex issue that only larger companies can invest in since it would require hiring a business analysist in order to break it down and find ways to apply it in the real world. But this couldn’t be farther from the truth.

Today’s options in retail sales analysis software have resulted in simple business intelligence for small businesses. Cloud based sales and inventory management programs now work together, reporting to the Cloud and integrating data across multiple warehouses and channels of sale.

The output from these powerful program suites is a level of analyses that is already broken down in a way owners can easily interpret and apply. There is simply no need to hire anyone else to interpret and analyze the data — it’s done for you within the program itself. These suites are focused on user-friendly input for ease of use as well as user-friendly reporting and output. Simply put, a comprehensive online sales and inventory suite offers better data and business analyses capabilities even for those with no experience in analyzing data.

This new generation of business software aimed at meeting the needs of small business has changed the playing field. Now, even a small “Mom and Pop” company can compete with any other company on the global market. Business intelligence based on data gathered from integrated sales analyses and inventory management makes it possible. Today, this level of data collection and analyses isn’t a luxury for a larger company — it’s a necessity for any company that wants to be successful.