Data is no longer the domain of big business. Increasingly small business owners are turning to data to find the answers they need to scale.
Tapping into data and analytics can be a great way to grow your business. Data can provide insights on everything from your customer journey to your workflow, logistics and even your finances. Yet small business owners often neglect this valuable resource. Perhaps because they lack the expertise to understand exactly what all these reams of data they collect mean for their business.
Recent research from Accenture shows this data skills gap is costing small businesses billions in lost revenue. Data is a gold mine that can fuel a culture of innovation and growth. However, when business owners struggle to make sense of data, their productivity and business values can be affected.
Accenture found almost eight out of ten respondents felt overwhelmed when working with data, with nearly a third going out of their way to avoid using data altogether. It’s a shocking response when you consider the benefits data analysis can bring to a business’s bottom line.
Outsourcing your skills gap
The good news is that business owners suffering from data fatigue need no longer do all the heavy lifting themselves. Outsourcing your data and analytics to a freelancer will not only free up time but allow you to get access to a skilled professional. Fiverr recently launched a new vertical that explicitly addresses this skills gap, providing on-tap access to data specialists for small business owners.
“Small businesses need to be empowered to take advantage of the kind of data-driven decisions big corporations have been mining for years,” states Fiverr CEO Micha Kaufmann.
“By opening a vertical focused solely on data services, we are providing business buyers with the ability to tap into talented data analysts, data scientists and more, on-demand.
“These skilled freelancers can help businesses make data-driven decisions to improve, enhance and ultimately grow,” says Kaufmann.
Why you should be looking at your data
Today’s businesses collect an enormous amount of data from their customers. Breaking down this data into valuable insights can help your business make more informed decisions, improve your operational efficiency, and ultimately increase revenue.
In fact, Google reports businesses that leverage data and analytics enjoy more significant sales than those who fail to explore their data. By looking at your big data (the data your business accumulates from day-to-day), you will get a clearer picture of any opportunities or shortfalls.
Data you can outsource
Of course, it’s not just data analytics that can be outsourced. Data entry can be one of the most labour-intensive tasks for any small business owner, so it’s another potential job to outsource. Similarly, if you need forecasting or modelling done for your business, opting to engage a freelance data science professional can give your business the edge. Perhaps you’re looking for competitor analysis? Employing the skills of a data miner could help you get the business intelligence you need to competitively price your products or services or find sales leads.
Tapping into this talent base seems like a no brainer. Increased access to data analytics levels the playing field. It gives small businesses the chance to make critical changes and discover the most innovative ways to move forward. In an increasingly competitive business arena, investing in data analytics is no longer nice to have but a must-have. So, why wouldn’t you outsource to a professional for the best results?
Ready to start outsourcing? Give Fiverr a try. Unlock the power of a verified, trusted talent pool that will help you set up your business for success.