When it comes to data analytics, there was a time when Big Business and enterprises had insurmountable advantages of scale. Now technology has leveled the playing field and enabled organizations of all sizes to access exciting new capabilities. It’s now not only possible, but advantageous for small- and medium-size businesses to think big, thanks to the advantages of data analytics and business intelligence.
Big Data vs. Data Analytics â Do You Know what You’re Getting?
You might think your organization is already using data analytics to power your operations, but are you certain? Getting the terminology straight requires a deeper dive into real world applications.
In practice, ‘big data’ is the term applied to discussions about information sources and strategic directions, with a goal of managing data infrastructure. This is different from (but obviously intersects in important ways) ‘data analytics,’ which is the term applied to discussions about processes, systems and applications that help leaders use data to make better company-specific decisions at the tactical level.
If you’re already working with a solutions provider that is tasked with helping you to collect and store data, that’s only half the equation of a winning formula. You still need the ability to manage that data, sift through it for the information that’s valuable, and use it to power better decisions.
The upshot for SMEs: Make certain you’re getting the capability your organization needs. Big data is a buzzword that sounds impressive, however if you’re not getting an underlying data analytics capacity that can examine and enrich your data to generate actionable data insights, you’re not getting the performance you need.
Why SMEs Should Leverage On Data Analytics Solutions
The availability, potency and affordability of data analytics are simply too good to ignore for SMEs looking to make an impact in their market. The attractiveness of business intelligence is making it easy for SMEs to engage these new solutions:
Data availability. Most SMEs already have easy in-house access to troves of customer and market business data, from sales data, to emails and social media information, and more. There is also a wealth of data available on the web that can be mined for insights. Data is plentiful and easy to source.
Cost and resource savings. Data analytics investments deliver more bang for the buck, by freeing up resources for business-specific tasks. Data analytics allow SMEs to boost efficiency and productivity by winning the information battle.
Smaller size equals greater agility. SMEs can benefit from data analysis in one important way that’s often unavailable to enterprises: SMEs are more agile and have the ability to make decisions and adjustments that capitalize on data analytics insights.
Simple to understand results. Data analytics solutions have a variety of advanced visualization features that allow big data inputs to be thoroughly managed, inspected and then utilized to make better decisions. Ease of use helps accelerate the impact of benefits for SMEs.
Add to this list the ability to precisely customize data analytics functionality for individual businesses and it’s easy to understand why SMEs are finding it attractive to implement a technology stack solution to keep pace with the market.
What Could Better Decision Making Look Like for Your Business?
Data analytics opens up new options for you to connect with customers, elevate your market visibility and make improvements. Here’s how other SMEs are using data analytics to better inform their operational planning and execution:
1. Boost brand recognition. Social media provides a wealth of data about how viewers and customers understand your brand. Analyzing that data allows you to adjust your channels and narrative to elevate your visibility and connect with new customers.
2. Hone Advertising with Target Personas. First-party customer data is available to every business and allows you to create target personas to market and advertise more successfully. You’ll know where to reach your best and most likely customers and be able to speak to them in a language they respond to.
3. Use personalized recommendations to power sales. Create deeper and more relevant engagement by connecting directly with your customers. By leveraging the right data, you can generate loyalty and boost sales.
4. Plan your expansion. Adding a store or expanding into new markets doesn’t need to be a guessing game. Analysis of customer location data can output your best expansion options and help you target high value customers.
5. Improve your products and services. Direct customer inputs and social media provide the raw data, and analysis tells you what you should be doing. Consumer opinion data lets you make informed decisions about how to adjust your products and services to appeal to a larger number of customers.
Just having data is not enough. Data analytics is the key solution that delivers value to SMEs looking for a market edge.
Begin with a FREE CONSULTATION to Access True Data Analytics
At Cloud I/Os, we don’t simply engineer enterprise-grade data pipelines that will immerse you in a big data flood of irrelevant and unusable data. We focus on the data itself and deliver solutions that allow you to interrogate your data, enrich it and use it to support better decisions for your organization:
- Customized designs
- Cloud integration
- Dashboard tools and data visualizations
- Network insights
- Machine learning applications
SMEs can enjoy the same abilities to manage, enrich and analyze business data as Big Business organizations. Contact us today for a FREE CONSULTATION to learn more about how you can think big with data analytics. Our expert team can walk you through your options, explain the benefits and provide a clear, no-nonsense quote of the costs and schedule needed.
Now is the perfect time for SMEs to implement technology solutions to leverage the benefits of data analytics, as a means to outperform competing businesses. Cloud I/Os solutions are customized to perform exactly the way you need to support optimized operations and growth. We can help you make an outsized impression on your market… are you ready to enable your success?