The Only Analytical Tool That Matters To Small Businesses

Posted by on February 20, 2014 in Business Technology [ 0 Comments ]

small business analyticsBig corporations and established businesses use high-powered analytics dashboards and multi-channel big data crunchers to do everything from inventory to customer relationship management to supply chain administration. But many small businesses require fewer analytics services, and are focusing on some specific core uses. The tool that matters most to most small businesses is one that can collect the right data, aggregate it for presentation, and flow back out into various simple workplace directives.

A Single Platform With Google

One idea for businesses that don’t have complicated processes is to simply use Google Analytics, the data-parsing arm of the mammoth tech company that has given us branded search. A November 2013 article by Sayf Sharif at LunaMetrics notes that the majority of U.S. businesses are single self-employed entrepreneurs. For these types of businesses, Sharif recommends just installing Google Analytics and filtering traffic, using various features of this intensive and dominant analytics platform to determine web site goals and craft content.

Related: Why Google Analytics is a Must-Have Tool for Small Businesses in 2014

What Does A Single Small Business Analytics Tool Do?

In another conversation about the role of small business analytics at the {grow} web site, Kerry Gorgone writes about four main goals that can be served by a single platform:

  • scheduling and sending content
  • comprehensive monitoring of social media
  • analytics deliverance for each platform
  • URL handling

The first three of these correspond to an extremely concrete analytics process. The fourth is a kind of busywork or administrative task. Gorgone provides a list of single platforms that will facilitate these kinds of analytics maintenance for small business.

Related: Google Analytics: The Right-Hand  Man of the Modern Small Business Owner

Use Payment Transactions For Single-Source Analytics

Emma Capron of Predictive Analytics Times makes an interesting suggestion. In discussion of big data for small companies, Capron points out that some companies are linking customized analytics tools to popular mobile apps, where your choice of social media connectivity determines the analytics tool that you’ll need. But an even more interesting idea for many small businesses comes in the form of e-commerce ‘portals’ that can take an existing credit card transaction information and crunch that data. Here, the data generation is already inherent in your business process. Single tools like Tranzlogic ( a suggestion by Capron) can accomplish the analytics functionality that the business needs.

There are a lot of different ways to integrate one or more analytics tools into a small business environment. The above source, along with a lot of other recommendations, focuses on something called ‘predictive analytics’ where the generated results actually provide business planners with a projected view of the future, allowing them to micro-manage everything from product development and service delivery to discounts, loyalty programs and advertising.

Related: Get further insights from experts in online marketing analytics

From these kinds of suggestions, it’s clear that single-source small business analytics can be achieved in different ways, from different companies, but always involves the core processes that will help fledgling firms “work like the big dogs” and take advantage of the rapid rise of ‘business intelligence’ IT.

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