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Cloud-Based Analytics for Small Businesses

 Hi Everyone! This week I discuss cloud-based analytics for small businesses.

What is cloud-based analytics?

The integration of cloud computing with analytical software.

The Cloud computing feature allows collaborative and agile teams to interact with the same documents from anywhere in the world. The analytics element means companies can harvest data, understand their data in real time and use their understanding to keep in touch with market trends. 

Most companies offering this service use a subscription model. This is ideal for small businesses, as they can now afford to compete with bigger businesses by using similar technology. 

As opposed to On-Premise analytics:  



Cloud-based 

All of these factors make cloud-based analytics an excellent choice for small businesses.

 Small companies should consider that they don't need to overkill complexity in their choice of service provider. Some services, such as SAS, Oracle, & SAP Analysis Cloud are geared towards big data companies who have greater IT needs and in turn bigger budgets. Power BI & Google Analytics are great choices for smaller companies. Google Analytics is great for tracking e-commerce and digital marketing. Power BI is excellent for Business performance tracking.



Type of data:
1) Customer Data

  • Demographics
  • Customer feedback
  • Buying trends
Why it's important for small businesses:
 When small businesses understand their customer data they gain insights into customer preferences. Therefore they can offer personalised services as well as targeted marketing.

2) Operational data
  • Inventory levels
  • Delivery times
  • Fulfillment
Why it's important for small businesses:
An increase in operational efficiency means greater profitability. Streamlining supply chains allows small businesses to be cost-effective.

3) Financial data
  • Sales
  • Expenses
  • Cash flow
Why it's important for small businesses:
When small businesses are in control of their finances they are safeguarding their future and planning for growth. Cloud-based analytics works particularly well for financial data as it links up well with existing accounting software the firm is likely using.

For more info on the topic check out this video by the SANS institute






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Location: Dublin, Ireland

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