Small Business Analytics is not a very well established discipline.
You generally see analytics across all kinds of businesses in just about every industry, but for the most part these businesses are large in size.
The concept of analytics is something that most small businesses have not embraced because of two perceptions that hinder the adoption of best practices; a good analytics solution is too time consuming and too expensive.
These perceptions are often false. Just about any small business can benefit from a number of analytics techniques and technologies that do not require significant amounts of time or financial resources.
When talking with a small business owner about their business, I like to ask a series of questions to gain and understanding of the data they have to work within their business.
Generally, I find that they rarely, if ever they even think about the data they have.
So that is often where we start. Trying to map out their data environment.
Once we have an idea how data is (or could be) collected and stored, then we can turn to talking about analysis.
And after I have a good idea of what (if anything) they are doing with their data we can move to reporting. How is data and analysis presented within the business.
Often I find that pieces of the data collection, storage, analysis and reporting process are happening in subtle ways that don’t, on the surface, look like an analytics solution.
Over the next several blog posts in this series, I will offer up some tips to small business leaders, managers to point out where more analytics can be used with minimal time or cost impact to themselves.
To date I have helped over a dozen small businesses come up with an analytics solution tailored to their unique needs. We have been able to address key challenges that only a deeper understanding of the data in their business can uncover.
Analytics Outsourcing – DMAIPH has successful set up Filipino analytics teams for over a dozen U.S. based businesses. Offering both virtual and office based teams that specialize in problem solving using data, new technology and analytics techniques is our strength. Finding and empowering analytics talent is increasingly challenging, but we have it down to a science. Contact DMAIPH now at firstname.lastname@example.org or connect with me directly to learn more about how to set up an analytics-centric team in the Philippines.