Analytics for SMEs

According to figures from the Ministry of Information Technology and Communications (MinTIC), SMEs contribute 50% of the Gross Domestic Product (GDP), generate 80% of employment and represent 99% of companies in Colombia. However, figures from the World Bank show that the country presents poor levels of investment in research-development (R&D) with only 0.2% of GDP, in addition, MinTIC states that only 12% of SMEs offer transactions in line.

These shortcomings that SMEs present in Colombia translate into little innovation in technology to leverage their products and services. Technologies that are widely used by large companies, such as the Internet of Things (IoT), Big Data, Machine Learning and Artificial Intelligence and Advanced Analytics. However, small and medium-sized companies recognize that, in order to increase their profits and competitiveness, they must be guided in the use and implementation of Big Data and data analytics tools. Proving that currently data has become the best ally for companies of all sizes, sectors and specialties.

“For this reason, from DATAKNOW we invite you to allow us to be your ally in the use of data analytics tools”

One of the first steps that SMEs must take towards the use and exploitation of these technologies is the digitization and storage of the information generated by their day-to-day processes, such as taking orders, customer service and various operational and logistical procedures. Then think about making all the information available in the cloud, either with its own technology or through technological providers, and start with small advances in the use of this information, with the use of Big Data and analytical tools, generating early victories and cases of successes.

SMEs can launch analytics applications with company financial information, crucial for decision making. Analyze information on logistics processes, to introduce improvements in efficiency. Implement marketing and social media strategies, with personalized campaigns in real time, or develop processes that improve customer service, to increase your retention and level of satisfaction. But, before heading into any of these processes, the first thing is to clearly define our objectives, since the purpose of the analysis must be oriented towards maximizing results.

For analytics to work correctly, it is very important to ask the right questions, that is, define measurable objectives, and have the appropriate analytical tools. Regarding the latter, different alternatives have emerged in the market to take full advantage of and democratize the tools developed around these technologies. One of these is a business model known as as-a-service, which consists of developing and making products available as a service, for which companies pay for their use, the company provides the data and results in analysis and insights. derived from these. This business model is ideal for companies that do not have sufficient resources or want to avoid large investments in technology.

Undoubtedly, these options allow us to see that the use of analytical tools is still converging at an incipient moment, especially for SMEs, however, it is opening a horizon of unexplored possibilities today as far as the future has to do, and they open the door to fertile land in a sector that we must not forget represents 99% of Colombian companies.

Sources:

https://hablemosdeempresas.com/pymes/inteligencia-artificial-para-pymes/

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