The Ultimate Roadmap for SMEs transforming into a Data-Driven Organisation

The volume of data is growing at an exponential rate. In this scenario, it becomes difficult for companies to make sense of all they have collected using traditional methods. However, with the help of AI (#artificialitellegence), you can quickly analyze your customer's behavior and improve your business processes.

As a result, #AI helps companies understand their customers better and predict their needs more accurately than ever before. It also ensures that your operations run smoothly without any hiccups or errors that otherwise would have resulted in losses due to inefficient processes!

Most small and Medium Enterprises (SMEs) in India use Excel for marketing analytics.

#Excel is an excellent tool for fundamental analysis. It can help you analyze data, perform simple statistical tests, and create charts and graphs. However, it's not designed for advanced analytics or big datasets.

Excel can't do real-time calculations. You have to wait until the data gets loaded before running any math on it (which means that if your dataset changes while you're using Excel, your results will be wrong).

It also doesn't support large amounts of data very well. So even though Microsoft says they've added support for 50K records per sheet in Excel 2013/2016 respectively, most people don't find this helpful because most small businesses only deal with around 10K forms per sheet which makes them quite unreliable when trying to analyze their marketing performance over time across multiple channels (such as Google Analytics).

SMEs need to use advanced analytics tools to grow and accelerate their business.

To grow their business, SMEs need to use advanced analytics tools. These tools can help them compete with larger companies by providing them with the data for better decision-making and increasing efficiency.

SMEs may think it's not worth it because they don't have the resources or staff for this analysis. However, if you want your company's growth strategies to be worked out and executed successfully, you must invest in effective analytics solutions.

Whom should you hire to help the workforce transform data-driven?

For #msmesector and #smes, hunting talent is a challenge. Also, the cost of hiring talent like experienced #datascientist #machinelearningengineer, etc., will be high on their budget. So, there's a fantastic and cost-effective way (relatively FREE) to do it by registering your business at the YUGMA.ai - Campus to Career portal.

SARATHI.ai - Growth accelerator for MSME and YUGMA.ai - Campus to Career are working together to bridge the talent gap in the market for the #msmesector.

You can follow the below steps:

1. Download "Yugma APP" from Google Play Store & App Store (For Apple Users)
2. Create your Company Profile
3. Upload the talent requirement
4. Visit SARATHI.ai - Growth accelerator for MSME page on LinkedIn and comment.

That's all! Team #sarathi will be able to reach out to you and find a match for your requirement. The good news is, it's 100% FREE!

Data-driven sales and marketing approaches are still new to many SMEs.

If you're an #smebusiness, the first step to creating a data-driven approach is understanding how your business works and what it needs. It includes knowing the critical drivers of your company's success and its current position in the market.

Once you've done this, it's time to use advanced analytics tools such as machine learning and artificial intelligence (AI). These technologies offer significant benefits for SMEs because they allow them to automate processes with minimal human intervention—saving time and money while improving accuracy along the way!

Examples of custom AI-powered marketing strategies:

1. Predictive segmentation based on customer behavior patterns;
2. Automatic lead scoring;
3. Real-time targeting based on interests or preferences;
4. Automated email marketing campaigns;
5. Personalized product recommendations based on past purchases made by users who fit specific criteria (such as age range);
6. Ad targeting capabilities allow marketers to pinpoint precisely where customers are located so that ads land only where people are comfortable seeing them.

Data Science and Analytics can help understand customer needs and optimize operations too!

Let's learn about the most common uses for Data Science & Analytics in SMEs:

• Understand customer needs: It allows you to recommend products or services that fit their needs better than others. It also helps build a competitive advantage by predicting what your customers want before asking for it (or even knowing about it).
• Optimize operations: By analyzing data from sensors on machines or human workers in the field, you can find areas where there's room for improvement so that your business can save money while still being efficient at its core mission.

Implement custom AI-powered marketing strategies for SMEs across various industries.

SMEs can benefit from the following:

• An AI-powered marketing strategy helps you reach out to your target audience in the most effective way possible.
• A team of data scientists and AI experts who can help you improve your marketing strategy, understand customer needs and preferences, develop new products or services according to their needs and preferences, etc.

Conclusion

I have highlighted some ways #msmeindia #smebusiness, and #smallbusinessowners can transform into a data-driven organization. Contact Babu Chakraborty if you're an #enterpreneur and want to consult or take #mentoring for a low-cost data-driven solution!