As Aberdeen’s research has shown, one of the biggest challenges facing organizations in the age of Big Data is the simple fact that their data is often spread, in a variety of formats, across multiple silos.
Unfortunately, you don’t have to be a big company to have big problems with data silos. As Michael Lock’s recent report – The Analytical SMB in a World of Big Data – revealed, SMBs are even slightly more likely to have issues with accessing data than large enterprises:
Another thing worth noting: SMBs are also more likely than large enterprises to suffer from an inability to effectively analyze diverse data types and sources.
Our research also found, however, that not all SMBs are equal when it comes to managing data challenges. As it turns out, Leaders in the SMB space tend to spend less time collecting and preparing data, have a higher percentage of internal users who are satisfied with the accessibility of data, and, as a sign that data is being used effectively, are actually able to increase customer retention at higher rates year over year.
One reason for this improved performance may be that Leaders are steps ahead of Followers when it comes to the use of data prep technology across the business:
In his report, Michael Lock calls the “ability to handle data fluidly from capture to delivery” a “key competitive differentiator.” In fact, he concludes that small and medium-sized businesses have just as much – if not more – to gain than large enterprises when it comes to making usable data accessible to all stakeholders.
If you want to get the whole story and find out what your company needs to do to get its data house in order, read the full report.