How Data Protection and Agility Help Small Businesses Compete with Corporate Giants
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
Thriving and not just surviving for a small fish in waters that is replete with bigger fishes is no joke. This is exactly the case of small businesses who constantly struggle to carve their own space in a dynamic environment that is notorious for engulfing businesses that fail to adapt to it.
Large businesses come equipped with a vast and enviable arsenal of specialists, experts, analysts with even bigger audiences and budgets. While small businesses cope with the daily trials of sorting accounts and finances, recruiting workforces and implementing executive decisions and keeping costs at the critical point, big businesses do not have to do the constant juggling, thanks to overwhelming resources and reserves that tend to monopolize the market.
In the middle of such a global digital and financial transformation, how can small businesses stay relevant by not just coping with the titans but also beating them at their own game? The answer is by leveraging data.
While running a small business is no humble task, a dynamic decision through data analytics gives SMEs an opportunity or an opening to be more agile while levelling the playing field with their gargantuan rivals.
The optimized structural decisiveness of small businesses aids them in ascertaining swift change and real-time adoption through market acclimatization. Such a framework helps ensure actionable and effective change by identifying and resolving the needs of the business with minimum red tape and organizational rigmaroles.
It is fortunate indeed that the expeditious rise of innovation and scientific breakthrough in the ‘digiverse’ has eased accessibility throughout the tech industry for large corporate enterprises and small businesses alike. These tools which were hitherto assumed as overtly distant, complex and exorbitant are now readily available to help businesses ascend to the next level. The ease of use and adoption of such trailblazing tools can assist budding enterprises with pioneering insights for creating better customized, digitalizing daily operations and smoothening expenses sans a huge capital investment stipulation. The ability of these tools to navigate through billions of data points in a real-time manner to provide the exact, or similar insights to SMEs as their bigger peers have access to.
Word of Caution
However, SMEs also need able guidance to be able to optimally implement data analytics. This can be achieved by collaborating with tried and tested technological providers. Also, associating with such providers help an SME at a growing stage to easily expand and diversify, as enterprise level data can be easily transferred to every growing division, department and other branches.
The initial challenge was mainly providing massive enterprise level solutions and approaches to small ventures and NPOs while at the same time safeguarding sensitive and confidential business data from unforeseeable losses or theft by cybercriminals .The next step was authorizing customers with easy flexible and secure access to data in order to alleviate productivity and growth of the small and medium enterprises. The last hurdle on the path faced by next generation tech providers was minimizing the overhead cost for data assimilation, management and protection.
These revolutionary tech providers have successfully managed to help small businesses manage cost reductions without compromising essential safety and operational propinquity by arming them with cutting-edge data protection and optimization solutions that help in fortifying precious data while simultaneously allowing them to adopt better cost-effective data management applications and creating a secure dependable and accessible data horizon. It is noteworthy that often SMEs and NPOs are more vulnerable to data theft and cyber attack as they behold large amounts of sensitive data and relatively low levels of anti-breach measures. Through the genius of such hi-tech solutions, valuable data is guaranteed safety and anonymity at affordable costs in the case of cyber attacks and even hardware crashes.
Apart from improving data protection of customers these next gen data protection tools also help enhance the business agility of both themselves and their subscribers. These state of the art solutions provide the users with a game changing advantage by helping the SMEs and NPOs stay a yard ahead of their competition and also presenting them with an invaluable market analysis and accurate predictive models at relatively low costs. This helps small businesses grow smarter, edgier and competitive in the market and retain brand individuality even in the presence of corporate heavyweights.