SME Health Warning: Why Poor Data Costs Your Business Serious Revenue

Kerry O'Connor | Date: June 6, 2017

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Data analytics for SMEs provides an opportunity to add value, but without a single source of trusted data, it will be impossible to fulfill the potential offered by new technologies

Does your business have access to a single version of the truth? That is, one centralised bank of customer information that your decision-makers can quickly extract relevant, reliable data from? If not, you’re not alone in struggling to manage different data sources.

Nevertheless, at a time when data analytics is becoming ever more important for SMEs, rectifying this problem should now be a top priority.

SMEs shouldn’t regard their size as a barrier to greater use of data analytics tools – cloud-based technologies and software-as-a-service models provide affordable and ambitious options. But without a single source of information to build such strategies on, the gains from data analytics for SMEs will be limited – and your revenues will disappoint as a result.

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