{"id":1080,"date":"2020-09-16T12:03:22","date_gmt":"2020-09-16T16:03:22","guid":{"rendered":"https:\/\/treehousetechgroup.com\/?p=1080"},"modified":"2021-05-20T10:49:21","modified_gmt":"2021-05-20T14:49:21","slug":"why-small-businesses-must-focus-on-data-insights","status":"publish","type":"post","link":"https:\/\/treehousetechgroup.com\/why-small-businesses-must-focus-on-data-insights\/","title":{"rendered":"Why Small Businesses Must Focus on Data Insights"},"content":{"rendered":"\n
Small businesses have interesting times in store for them ahead. With the advent of a new era of IoT and automation, imagine the amount of data that every organization, big and small, is generating. <\/p>\n\n\n\n
Data is valuable — whether it is data companies collect about customers who are using their products or services, or data generated through marketing campaigns or even social media. Analysis of the data can uncover vital clues to what may be going wrong or how to enhance the organization. Data, and the insights that data uncovers, if correctly harnessed, can certainly fuel growth and dominance for small businesses.<\/p>\n\n\n\n
It is estimated that over 90% of all business data available may be \u201cdark data\u201d \u2013 that is, data that has been generated but is not being used by the organization, either for analytics (which could reveal insights to help make better decisions) or for any other business process, such as customer service, or for monetizing it in any way.<\/p>\n\n\n\n
It is actually a myth that data analytics tools are too expensive for small businesses. Technology has advanced to such an extent that the market is awash with many different types of digital tools for data analysis. Most of these tools are now based on an AI\/ML model, which means that as the ML model receives more and more data, the system learns rapidly and generates better and more powerful automated insights. Such is the impact that automation and artificial intelligence are bringing to the field of data analytics.<\/p>\n\n\n\n
There are several reasons why small businesses need to focus on using their self-service analytics tools to derive data insights. Let\u2019s take a look at some of them:<\/p>\n\n\n\n