Don’t be intimidated by data. It is a valuable resource.
By Sarah Krom, CPA On Jul 12, 2021
Small business owners are being inundated with information about the importance of data analytics or ‘big data’ to their business. These terms, taken out of context, can be very intimidating to an owner of a small-to-medium-sized business. However, simply put, data analytics means options. When utilized correctly, data analytics provides business owners with the knowledge and power to solve problems and make decisions. Whether you have big data or not – you have RELEVANT data, which is all you need to get started!
Experienced entrepreneurs often run their businesses from gut instinct, likely reviewing historical numbers and using this data as guidance. However, there is much more than the mere lagging indicator that historical data provides. Frankly, business owners are typically sitting on a gold mine of data that can be used