5 Data Management Challenges that Small Business Owners Face

Data Management

As small business owners, we tend to do everything on our own. We generally wear all the hats – but as time goes, business grows; we are no longer able to neither rotate nor wear all hats. As the demand of a more organized structure grows, we may have limited skills when it comes to a more technical side. We may be expert s of what we do and the product that we sell, but there are a lot of areas in the business management, where we have to admit, we need help with.

 

1. Data strategy

The overarching and driving structure of managing data is a data strategy. A data strategy is essentially a roadmap that identifies how a company will collect, handle, manage and store content. While a data strategy can vary in its breadth and depth, a simple strategy explaining each component is vital.

2. Data collection

Two of the most important questions to consider are:
• What data do you want and need to collect
• How will you collect that data

Since data collection can happen in various formats and from various sources, the means of collecting data should be secure (you do not want to compromise any information) reliable (you do not want to lose a single data) and efficient (you do not want to deal with an unorganized data).

3. Data storage

Once you have a collection all your date, the challenge now is where to safely keep it. Data should be stored on a trusted platform. While there are a lot of options nowadays for data storage, you don’t want to use a service has a bad reputation, no reputation just because you are opting for something relatively cheaper. Remember, your data is valuable, you do not entrust just anyone the things that are valuable to you. Keep in mind; key thing to consider is the level of security. Make sure that however and wherever you store your data, it’s safe.

4. Data Sharing

1st 3 are solved, now down to 4. After you have solved your data collection, now how are you going to share data simultaneously and effectively? Will you be able to delegate certain information to only a group of people? You have to opt for again another reliable system that will allow you to do so. Consider also the ease of access for the users.

5. Data Use

Lastly, when and how will you use your collected data? You should understand when and how. Understand the implications of using your data and ensure you have permissions for that use. Remember to be careful of the data you collect and do not violate any of your data use policies.

If you are currently having these challenges as well, do seek out for an expert’s advise. Choosing the best data management system can be a great asset to your business growth.

Why Should I Build a Website for My Business?

We frequently hear these reasons as to why web design is not needed:

My business is a start-up, I only have 2 to 3 people under me, business is already doing well, and we do not sell products online. If you are one of those that believe you do not need a website, then this will definitely change your mind.

Most of the business owners think setting up a physical store, reaching potential customers through word of mouth is enough. It never is. It is important for you to create a brand for your business, it is important to create an online presence for your business. Creating an online presence helps you to reach potential customers, it is easier for customers to find you, know more about you, even potential employees, business partners, the list goes on.

85% people of Australia have Internet access and the number of users is increasing at a rate of 1.7%. Currently, there are about 19.4 million mobile phone users in Australia, which again accounts for a large proportion of the total population. With more people having regular access, it is easier for online businesses to find potential buyers. A large portion of business revenues is derived from online transactions or from offline transactions that were a result of online marketing efforts. More than 25 million shoppers are now online, almost everyone is online to search for products and services, purchasing from gadgets, books, personal items even to services. If they have heard about you, but you are nowhere to be found online, no reliable website for reference, unfortunately, your potential customers would choose your competitors, who have boosted and built their online presence.

Keep in mind that your website speaks volume about your business – make sure to have not just a website, but a professional looking website to be taken seriously. Have you tried searching for a certain brand online with the desire to purchase their product or services but changed your mind as soon as you saw their website? The first impression is important, as you have one shot at making a first impression. A well-designed, user-friendly, informative website no matter how small your business may be, can even be on par with the giant companies. Size of the company does not limit chances of building a well-designed website.

A rule to keep in mind, ‘if you have a bad website, then it is better to have no website at all.’ No website means countless of missed opportunities, while a bad website may even be worse, it can make your business look bad and unreliable. It can create a negative impact online. Both are bad for business.