No longer are data analytics initiatives limited to the Fortune 500. Today’s Mid-Market companies are now joining the fray, and many more are looking to get started. Why? How?
Join me to discuss this and more at the upcoming Association for Corporate Growth event “Data Analytics: Why and How they are used to fuel Middle-Market Growth” at the Georgian Club in Atlanta on March 26, 2019.
As a primer, below are three main areas I’ll be discussing on the panel. If you have other areas you’d like to see me discuss, shoot me an email prior to the event and I’ll do my best to address.
Accessibility of Data & Analytics Technology: Data analytics has grown exponentially more accessible. The cost of procuring and developing such capabilities are no longer the roadblocks they once were. The boom in cloud computing and related data technologies has made these capabilities far more lightweight to stand up, run and support. A growing talent pool and analytics-as-a-service options makes harnessing these capabilities for better decision-making increasingly approachable for those far outside the Fortune 500.
Rapidly Changing Market Dynamics: Most middle-market businesses must be flexible to compete. Changing customer needs, rising input costs (materials, labor, shipping) and new competitive threats may make it seem impossible to keep up. “What’s the right price now that costs have spiked? What’s the right product to offer the new customer?” The questions and options are limitless – but fear not, this is where data analytics capabilities are at their best! These capabilities can continually process massive amounts of information, distill it down to insights that inform decisions, and recommend specific actions to drive results. This isn’t a snapshot in time, but an ongoing capability that helps you drive the business forward.
Aspirations to Scale: Many middle-market companies are growing (or aspire to grow) at a considerable rate. Whether this growth stems from capturing new customers, expanding offerings, penetrating new markets and/or acquiring other entities, it puts constant pressure on the corporate ecosystem. The good news is that the thinking around data analytics has evolved too, now taking a more modular and scalable approach that can start small and grow with the business where, when and how its needed.