Data analytics can help companies grow and manage budget and staffing
Small business owners are adopting data analytics as increasing digitisation has given them access to vast troves of customer data. A survey by Onepath found that 67% of businesses are spending more than $10,000 a year on analytics.
A separate study by IDG found that small and medium businesses manage around 47.81 Terabytes of data. This data, which comes from customers, business processes and markets, is expected to grow by 50% in the coming 12 to 18 months.
But, small and medium-sized enterprises face multiple challenges, including not getting value for the money spent on analytics. This piece says roadblocks also arise from overly-complicated tools and expensive maintenance charges.
[4 minute read]