Isn’t it time small business leaders need to start thinking big, when it comes to their data and their data quality programs? Absolutely! The past few years have been monumental for big business and their data quality programs. They are practicing, refining and developing processes that work and work well! The results of these efforts have generated agility in customer service and financial performance that previously have been unheard of. Now it’s time for small businesses to adopt processes with data that use the same agility that big business has enjoyed. It’s all in the scale of the process.
The fact is, the processes have been defined by big business and data scientists. Now, small business is starting follow suit and the space is really becoming exciting. With new minds challenging the space, it opens up innovation to a whole new arena. Will these moguls bring some harsh lessons to the big players in the industry? Everyone believes that to be exactly what will happen in the next few years. As small business begins to scale processes to their needs, they will begin to attack the accepted norms and present fresh innovations. Here are four points to ponder:
- Convergence of Trends: Technologies and social media are merging to offer data rich platforms on which small business will thrive.
- Turbocharging the Movement: By using propriety and cloud data, new insights will evolve, with deeper understandings across their respective industries.
- Engaged Management: As small business leverage management solutions, they will enjoy much more agility with cash flow, business, human resources and customer service.
- Decisions Made Real Time: By taking advantage of analytics, small business is in a much better position to respond to the direction the data points them toward. With fewer layers of process, they are more agile when it comes to capitalizing on opportunities.
The small business environment today is competitive and aggressive. By taking advantage of intelligence gleaned from analytics, they will be able to respond to their business focus and customers. Improving the small business will benefit communities down to the street level, where big business dares to tread. The marriage between small business and data will surely be innovative and exciting to see and experience.