Document Management Solutions in Tucson
Acquisition of Big Data for Small Businesses
Data is the bread and butter of the modern business machine. Businesses feed and thrive off data. Data from customers, suppliers, and just about any market-related data is crucial for the survival of the modern business, no matter the size. A while ago, a small family-owned company in North Carolina turned cabinets of ledgers and other kinds of paperwork into a goldmine. How? You may ask?
Twiddy & Company, the name of the company, turned to data the company had collected for years to predict accurately the number of people who would rent its properties in a given period. The data was so valuable that it has helped Twiddy & Company not only improve its bottom line but help property owners in the region cash in on the profit. And this was all because someone in the family saw it as good business to religiously scan every document coming in or going out of the business. Twiddy & Company is a small business by any standards. It’s owned by family members and operates in an area most people wouldn’t call business-like environment.
Your business may operate in a bustling, high-octane, pedal-to-the-metal kind of business environment. If you’re not capturing every bit of data your business interacts with every second, then you’re losing out on ways to make your business better, how to edge out the competition, and most importantly, how to turn a profit. Before you ask how you can capture those niggly small transactions, here’s the solution: get some document management solutions in Tucson. You don’t have to be in North Carolina to start managing your data better.
With the hardware, you can scan anything, digitize it, store it in a database and let machine learning algorithms do the rest. You never know what nifty patterns they’ll discern from the data heap. A way to better market your product to your customers? New ways to involve staff in your business model? Finding the right coffee maker?
Seriously, big data is big business, and if you’re not getting into it right now, your competitors will make short work of you in a near, and possibly bleak business future.
Most Small Business Owners are afraid of getting on the big data wagon because they think they are not big enough to use the data. Owners think that the likes of Google, Amazon, and other tech giants are the perfect sparring partners for big data. But what they don’t know is, small businesses account for the largest employment numbers in the United States. That is, small businesses are the economic drive train of the country. Without them, Google and Amazon would have nothing to stand on. So if small businesses aren’t leveraging big data, then no one else should.