Why Your Small Business Needs Data

Any small business owner will tell you it takes a lot of work to get a business started and even more work to keep it afloat. In your specific organization, you may think you already have all the information you need about how your business is running. Through putting long hours in there every day, you know a lot about what’s working and what isn’t.

However, regardless of your size or industry, there is still plenty of data that you are likely missing. This data can pinpoint the exact areas where you are doing well and where you need to improve.

Why Data?

We live in a spectacular time. Technology has brought us so many luxuries that we could only dream of 10-20 years ago. The sky is now the limit, and the range of possibilities is tremendously exciting.

sticky notes with data

In the business world, technology brings data much closer to us than ever before. However, this surge in technology and data can be extremely overwhelming. It’s easy to assume that data reports for big, corporate-sized businesses would be beneficial. It would also be easy to assume that such data reports are not be necessary for small businesses.

The fact is that there is crucial data that you can have reported to you that will only help your business grow. Not only can you get a complete breakdown of your sales reports, but you can discover ways to improve in various areas:

  • Managing HR records
  • Increasing employee efficiency
  • Improving your customer targeting
  • Knowing when sales are at their peak and why
  • … and much more!

how BI helps large and small companies infographic

You can even extract data about your customers—what different personas shop for, when and why they leave, who is interested in your business, among other trends and details. Most small businesses aren’t aware that they are collecting data that can help them increase their revenue.

 

However, if you’ve never delved into the world of data, it can be overwhelming trying to figure out how to deal with all of it.

Why Grow?

 

Luckily, you have a tool that can help you: the Grow BI dashboard, built specifically for small to medium–sized businesses (SMB). Grow has over 150 data connections, including databases, CRMs, spreadsheets, and many more integrations that host your data. Using our dashboard software will not only help you organize your data into an understandable format, but provide deeper insights into your business’s performance.

See which part of the day gets the highest increase in sales, down to the exact time. You can then use this time to capitalize on your increase in traffic. Find which areas of your pipeline are struggling, and create strategies that will strengthen those areas. Prove to your investors and higher-ups that your efforts are productive and profitable. See where your money is being spent and evaluate what are necessary expenses and what is not.

The Grow BI dashboard will take in all the complex data relevant to your business, then communicate the results to you. This will enable you to quickly make fact-based decisions about how to grow your business and increase your revenue. Grow’s goal is to enable your business to thrive and expand.

Want to try it out? Contact Grow today to learn how we can help your business grow.

how BI helps large and small companies infographic