Heartrepreneurs are not typically numbers type of business owners meaning we are not versed in studying numbers. We prefer our heart to heart relationships with people. So when it comes to business analytics, and I use the term with clients I mentor, I often receive puzzled looks on their faces. Followed by the question, “What is business analytics?”. Let me take a moment and explain very simply because even heartrepreneurs need to understand this term. Business analytics is studying data about your business and communicating the data t0 those that need to be informed of the data. People that may need this information may include your customers and your business partners. If you don’t know how to gather such data and to analyze the data you can use a platform such as Oracle Business Intelligence which has highly interactive dashboards and can help you make informed business decisions. Oracle Business Intelligence provides you the data and important analytics and simplifies the information, too. If your company a large enough you can even consider putting out an ad and hiring someone to do business analytics for you. For a sample ad you might want to look at some listings searching the term ‘business analytics jobs’. One of the criteria you may insist on is that the applicant have a masters in business analytics.
As a heartrepreneur you may not have finance and data as your strong suit. I highly recommend you have a brief education in financial terms as a business owner. I want you to know from this article that you can learn some key financial terms and either use software to help you out or you can hire someone full-time or part-time to take over the role that is not your area of brilliance. You can be a heart-to-heart people person as your main strength and you don’t have to do what isn’t comfortable for you. Having awareness of business terms will make you a better business owner.