Data Analytics Companies in South Africa are Helping Small Businesses

Data is as crucial for a small business as it is for an MNC. However, the lack of finances or a strategic understanding of data often holds many small businesses back from investing in data-related technologies and leveraging data. However, data analytics companies in SA are changing the picture and helping small businesses tap the potential of data analytics. Let’s see how.

Understanding the Premise!

Individually, a small business with limited business volume, profit, and expenditure may not make as significant an impact on the nation’s economy. But look at the impact of a million of them and then one will realize the collective difference small businesses make!

Yes. Small businesses are among the pillars of the economy of every country. A nation cannot survive solely on multinational enterprises. It also needs a thriving small business landscape generating employment, running the economy’s wheels, and becoming success stories to inspire the next generation of entrepreneurs.

However, often, small businesses underestimate the value they contribute. Many business owners refrain from investing in technology and run their businesses on instinct, potentially exposing them to the risk of uncertainties. But as stated above, data analytics companies in SA are gradually changing the picture and helping small businesses pave the road to growth. This blog explores and focuses on the contribution of data analytics companies in South Africa in transforming the country’s small business economy.

Data Analytics and its Benefits

Data analytics involves analyzing raw data and drawing inferences about the information. It helps companies leverage the most valuable asset of their business – data and use business-ready information in various ways, including making informed decisions.

Data analytics includes various types of data analysis. You can analyze any data via data analytics to derive useful insights enabling decision-making and targeted improvements. In addition, the technique can help identify trends and metrics likely to disappear in massive data volumes. Thus, it helpful in numerous areas.

For example, a retail company can use data analytics to identify customer buying trends, behavior, patterns, inventory usage, etc. In addition, data analytics can help recognize areas of improvement and pave the way to better returns.

Small businesses can also benefit from data analytics. The advantages they reap aren’t different from those mid-sized companies or global enterprises enjoy. But data analytics has a greater impact on small businesses, considering the goals they aspire to achieve. Partnering with data analyst companies in SA proves can further enhance the overall difference data analytics can make in small businesses.

6 Ways Data Analytics Companies in SA are Helping Small Businesses

Data analytics companies in SA adopt a very organized approach when it comes to helping businesses optimize the capabilities of data analytics. Small businesses aren’t an exception to it. These six ways make it evident.

  • Devise a Big Data Strategy

As data becomes increasingly important in the modern context, companies, including small businesses cannot treat it as merely a resource. Using data and making meaning from it demands a well-thought-out big-data strategy.

Data analytics companies in SA prove helpful in this regard. Beginning from the most fundamental aspect – identifying the data to be analyzed and creating a plan to acquire high-quality and useful data easily, data analytics companies attend to every concern critical in making data analytics work for small businesses.

  • Identify Multiple Data Sources

Depending on the nature of the business, a small company may have more data sources than one can imagine. For instance, when it comes to leads, some common ones include email marketing responses, telephonic conversations, website traffic, social media engagement, and WhatsApp or messenger interactions.

Identifying these sources on their own may prove overwhelming for a small business. Missing out on one or more may result in unrealized loss, hindering business growth. But not when there’s a data analytics company hand-holding the small business in its data journey. Data analytics companies in SA help small entrepreneurs identify all the possible and potential data sources to gather data from all of them and use it for business.

  • Build Data Infrastructure

Another significant aspect where data analytics companies in SA are helping small businesses is building the required data infrastructure. Based on the business’s investment capacity, the data analytics company may suggest sharing big data onsite in a data warehouse or a third-party cloud storage device, data pipeline, Hadoop, or data lake. Specialist data analytics companies in SA use their consulting expertise to help small entrepreneurs identify what’s right for their business and make the right choice.

  • Conduct Actual Analysis

The core analytical part is where data analytics companies deliver the highest value to their small business clients. Having technology alone doesn’t suffice when it comes to data analytics. You also need the right experts who know how to use the technology optimally and the various platforms associated with it.

Accordingly, data analytics companies in SA help small business owners perform various types of data analytics like predictive analysis, data visualization, prescriptive analysis, predictive modeling, cohort analysis, and many more. These analysis types individually and collectively contribute to more enhanced and informed decision-making, preparing better for uncertainties, tackling the dynamic business environment more efficiently, growing the business more convincingly, etc. The idea is to foster business growth. Although indirect, data analytics companies play a crucial role in it.

  • Data Presentation and Interpretation

Analytics alone doesn’t help. The analyzed data should be arranged appropriately and presented intuitively so that the stakeholders understand it and use it for further actions. Data analytics companies with qualified data analysts can cover this element, thus enabling small businesses to understand their data and make more sense of it.

  • Help Businesses Focus on Growth

Although data analytics isn’t the only thing small business owners deal with apart from their core business, it is a crucial one. Considering the technicalities, effort, and expertise involved in processing, analyzing, arranging, interpreting, and presenting the data, it is always a prudent idea for small businesses to partner with data analytics companies.

A growing small business segment could be considered an indicator of a progressing economy. Data analytics companies in SA are contributing to it in their unique ways, helping small businesses earn higher returns and grow more comprehensively.

Choose FABTARY if you are a small business owner looking to partner with a data analytics company in South Africa. The company’s phenomenal data analytical expertise, end-to-end support, and extensive access to analytical resources qualify it as a data partner to reckon with. For more, email FABTARY at info@fabtary.com.

Lungile Mbeke

Lungile Mbeke

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