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Data Analytics for a small company

Data Analytics is a art and science of analyzing the data generated by the business and around the business for various benefits to the business.

Tremendous amount of data get’s generated while doing the transaction recording of the business at various levels in various systems while doing the business. Also there is a huge load of data that get churned around various aspects of the business externally. Data Analytics is a manner in which all this can be put to use proactively to make business decisions in right direction.

Many a times the results are astonishing and against the perception of the owner or promoter or the management but the same are fact based and hence reliable.

What is needed to do the analysis
Simple excel with analytical mind is sufficient for the small businesses. There are many reports even readily available in the softwares in which the transactions are recorded. All these reports with an analytical focus and knowledge of business model can throw disruptive insights.

Marketing and Sales:
Answers to the below question may be different if based on Data
What’s more interesting to the customer?
Who is real decision maker?
What’s the real USP of the business?
What’s paying faster Digtal marketing or the traditional one?

Operations
Answers to the below question may be different if based on Data
Who is the star performer?
What is the real test of quality for the product?
How Can we manage cost while keeping the quality constant?
What small thing can change the complete scale-ability of the business?
What’s critical to be controlled to stop leakages?

Small businesses and startups being more agile and flexible can do quick analysis and decide on course of actions to see immediate ROI. Believe me Data Analytics is even simpler to adopt for the smaller organization. Early Adoption to the basic technique can open doors to numerous possibilities.