Fast Company had an interesting article recently entitled “7 Ways to Disrupt Your Industry” adapted from a book on business. While the idea of an industry disrupting business is mostly a matter of opinion, we thought it might be fun to examine InsightSquared against the seven ways to see how we hold up as a potential “disruptor” in the business intelligence world.
1. Totally eliminate your industry’s persistent customer pain points.
The main pain points for our customer base boil down to two things:
- Cost of BI
- Ease of use
SMBs have traditionally been left out in the cold because BI tools have been exclusively geared toward large companies with deep pockets. Solutions cost hundreds of thousands of dollars to implement, not to mention the upkeep costs required for infrastructure and analytics. Yet despite all this sunk cost, the tools were incredibly difficult to use and especially impractical for SMBs with limited resources to devote to BI.
Our SaaS solution starts at $99/month and we do all the number crunching so businesses do not need to employ data analysts at all.
2. Dramatically reduce complexity.
Let’s delve a bit into how we reduce complexity for our customers.
Because BI solutions are financially out of reach of many of our target customer base, the typical ad hoc solution is Excel for these businesses who have a desire for better analytics. Well, we have our opinions on Excel for BI, and it seems fairly safe to say that while Excel is a powerful tool, it does little to simplify your data analysis.
InsightSquared takes an at-a-glance approach to many of our dashboards, meaning you can get a good understanding of your business in seconds. Here is an example of our Insight Feed:
Our dashboards are easier to read than Excel spreadsheets, and automatically updated every hour.
3. Cut prices 90 percent (or more).
We weren’t exaggerating when we said BI can cost hundreds of thousands of dollars. In one study, the average 3-year cost of a Cognos deployment was nearly $1 million. Of course, Cognos and other similar BI solutions are designed for the Fortune 500 companies of the world.
For the SMBs of the world, a million dollar price tag is out of the question, and so is paying a hefty up-front fee and ongoing costs to employ a statistics PhD to make sense of your Excel spreadsheets.
We already mentioned that our robust BI solution starts at just $99/month…but it bears repeating.
4. Make stupid objects smart.
One could argue that this is the entire point of BI, but even BI itself could be made smarter. So we did:
Our product works smarter to make your analytics easier.
5. Teach your company to talk.
By making BI more personal, it can stand out from the crowd. We’ve always strived to maintain an open dialogue with our customers, in addition to simply giving them a great product. The proof is in the pudding as many of our recently added features come from direct customer feedback.
6. Be utterly transparent.
One of the most transparent parts of our business is our pricing. As you can see from our pricing page, there are no hidden fees. Our customers know exactly what to expect each month, and it’s just another way we strive to simplify the entire process on on-boarding a business intelligence solution at busy SMBs.
Another way we try to be transparent is to always provide customers a glimpse of what we’re cooking up via our “Labs.”
If a feature is half-baked and in the works, we’ll tell you so, pure and simple.
7. Make loyalty dramatically easier than disloyalty.
And at the end of the day, this is the ultimate indicator of success. If our product is as great as we think it is, our customers will not only use it everyday, but refer others as well!
Are we disrupting the BI industry? Try a free 2-week demo and see for yourself.