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How big data is being put to work in small business

Posted 3 years ago in Advisors by
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Automation is taking over the tasks that are dull, dangerous or dirty.

Speaking at Xerocon South, Xero Australia Managing Director Trent Innes explained that big data is transforming the way industries make decisions – aggregating a higher volume of structured and unstructured data than ever before.

“The opportunity to access a more complex consumer picture may sound like a run-of-the-mill development, but its impact is very real and far-reaching. Broader-range insights are rewriting key business touchpoints – improving customer experiences, business efficiencies and the hard-earned competitive edge,” Innes said. 

In the past 12 months, Xero has processed more than $1 trillion of transactions. Working with more than 700,000 customers around the world, we have a powerful aggregated data set that can be used to help small businesses and their advisors transform the way they work. 

“We can start to use big data to help inform government policy and make small business stronger,” he said. 

The key to moving small businesses forward is ensuring they have access to the right tools, no matter their size. With integrations with Microsoft Power BI  we’re giving small businesses another way to see what’s going on across their business. It’s a real example of how big data is being utilized in small business.

Information is what enables businesses to make smart, informed decisions. But bringing information together efficiently and effectively into a form that’s simple to digest and understand takes time and can become very costly. We understand that the true value of data lies in the ability to extract insights and the story it paints around the true health of a business.

“The drive toward this modern data set gives small businesses a stronger frame of reference than ever before. Used smartly, agile businesses can put big data to work to uncover real-time insights and trends, improve predictability and focus, enable the automation of repetitive tasks, and ultimately, create happier customers,” Innes said. 

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