Comment
We may have passed the halfway point of the November lockdown but it remains a uniquely challenging and uncertain time for businesses, with the CBI’s chief economist Carolyn Fairbairn warning that the UK faces a “bleak midwinter” of economic contraction.
One way that SMBs can tackle these Covid-related challenges is to consolidate their data, according to James Don-Carolis, Managing Director at TrueCue. James explains that SMBs will need to maximise the value from the data they already own if they hope to overcome them: “Nearly every organisation in the country is facing some degree of impact to their daily operations, with many having to quickly adjust their business models in response to the latest lockdown restrictions. Smaller businesses are typically more vulnerable to these disruptions, as they lack the capital and resources to maintain continuity, however we firmly believe they can overcome these challenges by being smarter with the data available and making conscious strides to improving their analytics maturity.”
“Data analysis amongst smaller organisations tends to be carried out via spreadsheet analyses or through personal data extracts. In order to compete beyond Covid-19 those organisations relying on these opportunistic practices will struggle to make faster and smarter decisions. To address this, businesses must install the right tools, effectively train their employees and ensure support from senior management, to gain true value from their data.”
James continues, “The benefits of improving your data and analytics maturity levels are widely recognised – the ability to generate greater actionable insights, improve forecasting and gain a better understanding of competitors are widely known. Early adopters of advanced analytics are likely to be nimble to any instability faced over the coming months. Those which don’t will lack the foresight to address potential challenges.”
To this end we have two articles this month that address the data explosion with cutting edge storage technology. First, Fujilm explain why Software-defined Tape represents the Holy Grail of data storage. We also have a piece by StorageCraft’s Florian Malecki on how SMBs can rise to these challenges by “getting closer” to their data.
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