How can data analytics help smaller companies compete with bigger competitors?

Q:

How can data analytics help smaller companies compete with bigger competitors?

A:

Data analytics helps you make decisions based on principles rather than emotions. I’ve found that making decisions based on principle yields me better, more consistent results rather than decisions made based on emotion. Typically, smaller companies can make decisions faster, so having data at your fingertips to help make those quick decisions based on principle can give you the upper hand.

The other thing that I find interesting is that if you’re a smaller company and you analyze the data in your industry, you can often find a few niches that are being underserved. It’s not always about competing with the bigger company right away. Sometimes a better strategy is to dig into the data and find the niches that are underserved and dominate those first. Dominating those niches will help build your brand and get you significant traction to start chipping away at the bigger companies' market share in other areas.

Have a question? Ask us here.

View all questions from David Cullum.

Share this:
Written by David Cullum
Profile Picture of David Cullum

David Cullum is the Director of Information Systems at TBI, a national telecom services distributor. David has almost eight years of experience as a technology analyst, project manager in data analytics, business intelligence manager and now his current role. He manages all sales and financials related source data across TBI, ensuring high levels of data availability. Currently, he is responsible for all corporate data, system assessment and review, system design & implementation, system integrations, vendor relationships, contract negotiations and more.

 Full Bio

Related Tags