Businesses these days have more information about their customers than ever before. Having that data at their fingertips can help target new customers, inform marketing strategy and track customer sentiment about an organization’s products. Even so, up to 73 percent of company data goes unused.
Every business, no matter how small, can reap the benefits of good data collection and analytics. How Data Can Help Small Businesses. Information is power for small businesses. Unless businesses are tracking how products and services are performing and what they’re costing in human and monetary capital, it can be impossible to know what’s really working. Data can be used to track efficiencies and potentially reveal new sources of revenue, which is particularly crucial for small businesses with somewhat limited resources.
Author: Larry Burt