Most businesses have a wealth of customer data, yet only a small number are truly taking advantage of it. But with 90% of the world’s data created in the last two years alone, its importance is only increasing. It’s more than just big data and big machines. AI is coming to the forefront, taking business growth strategies to a whole new level with strengthened productivity and customer engagement. AI tools can help small companies discover patterns in their businesses and predict what will happen next, recommend best actions, and even automate many of those actions for them. New tools are making it easy for even the smallest of businesses to take advantage of all this information. Start small with reporting and analytics — just make sure intelligence is on your agenda.
These days, there are apps that can help you solve almost any problem, but it’s easy to find that a year or two down the road you have dozens of disconnected apps. Information that can be useful to your business — or that you might need in a hurry — is siloed and hard to find. Beware of point solutions! Before you invest in new technologies, make sure you’re looking at apps that can be connected to each other or that come in a platform solution with plug-and-play connectivity to new apps. Sharing your data is essential to your small business growth strategy because it provides the kind of experience today’s customers expect.