Abstract
According to research findings, small and medium enterprises (SMEs) are facingproblems such as an excessively large volume of data, lack of information and lack of knowledge. Therefore, in order to make decisions on time, the managers of SMEs use mainly their experience, which implies a high risk of failure. Business intelligence (BI) is a useful and helpful tool, which brings many advantages and benefits to businesses. However, like any technology,it is accompanied by some limitations that must be overcome in order to help businesses to develop. This paper summarizes current research findings addressing the issue of the development and application of business intelligence systems for SMEs. The issues addressed are models for the estimation of the readiness of a SME to establish BI tools, alternative BI solutions for SMEs, benefits and challenges of BI in SMEs, implementation methods for BIsystems in SMEs and finally, BI systems in cloud computing platforms. Research papers dealing with these issues are analyzed and the results are presented. This paper contributes to the understanding of problems and potentials regarding the development and application of BI systems in SMEs.
Highlights
Despite the economic size of each company, access to relevant and important information is very important to ensure the success of the acquisition of a market share
Many researchers have reached the conclusion that SMEs are the largest part of the market, and of the economy, in most European countries
They are the driving force of the economy as they provide the majority of jobs in the private sector, so they compete with larger companies
Summary
Despite the economic size of each company, access to relevant and important information is very important to ensure the success of the acquisition of a market share. It is known that the applications of BI are not primarily accessible to SMEs. The available systems are expensive, difficult to use and require excellent technological training of business staff. The available systems are expensive, difficult to use and require excellent technological training of business staff These applications meet the needs of large enterprises, that have all the appropriate resources for their proper functioning. A prerequisite is the successful confrontation of problems, stemming from the specific characteristics of SMEs. With the evolution of technology, BI suppliers have designed and developed applications and tools to meet real small businesses needs. Tools and IT system applications are not considered a privilege of large companies, as the services offered are designed for the needs and requirements of SMEs, which can be just as competitive and successful. BI practitioners and SME managers might find this brief but concise summarization useful in their attempts to apply this cutting-edge technology in this specific business sector
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