Data & Analytics: The Competitive Edge for Small and Midsize Businesses
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Small and midsize businesses (SMBs) are increasingly planning to adopt business intelligence and analytics software, with notable interest across various regions, including 54% in Latin America and 52% in South Africa. Key benefits identified include improved decision-making and enhanced coordination through shared information. As competitive pressures rise, 41% of businesses are prioritizing technology adoption to support transformation and growth.
Data & Analytics: The Competitive Edge for Small and Midsize Businesses
- 1. 26% North America 32% Europe 37% Asia/Pacific 33% South Africa 43% Latin America All IDC research is © 2017 by IDC. All rights reserved. All IDC materials are licensed with IDC's permission and in no way does the use or publication of IDC research indicate IDC's endorsement of SAP’s products/or strategies. These are the SMBs that plan to acquire business intelligence/ business analytics software for the first time in the next 12 months: For more on how small and midsize businesses can benefit from advanced data & analytics as part of digital transformation, download the IDC paper, Analytics for SMBs: Sharpen Operations, Capitalize on Business Opportunities, sponsored by SAP. An IDC infographic sponsored by SAP SMBs recognize the benefits analytics can play in improving business decisions and performance, including: And many showed their agreement with the statement: “Coordinating information has helped measurement/and planning.” More successful SMBs were even more likely to agree with that statement. And business analytics software is becoming more of a priority. 35% North America 37% Europe 41% Asia/Pacific 52% South Africa 54% Latin America 10%+ annual revenue growth 56% 1-9% annual revenue growth 42% Flat or negative annual revenue growth 25% New insights on business operations, delivered in a timely way, can help a growing firm continue to maintain agility and flexibility. Data & Analytics: The Competitive Edge for Small and Midsize Businesses (SMBs) Streamline business processes/practices 50% Bridge organizational silos/depts to improve coordination—one set of information used by all 39% Support data driven decision making 49% Gain new insights on external operations (customers, supply chain) 36% Gain new insights on internal operations 42% Use real time reporting for instant updates of current activity 41% are paying more attention to the adoption of technology to transform their businesses in response to competitive pressure. 50% OF SMALL FIRMS & 66% OF MIDSIZE FIRMS