New European survey shows that SMBs managing their data are more optimistic and likely to expect growth.
The big data rush is on, and it’s picking up steam all around Europe. More and more SMBs are wising up to the benefits of harnessing data insights, and realizing the great business potential the big data wave holds for their future. But beyond the catchy name and the gazillion bits and bytes, what does big data concretely mean for their growth? And more importantly, are SMBs in Europe sitting on an unexplored digital goldmine?
“Data gives European SMBs a competitive advantage. Those evaluating and using data to their advantage are seeing a brighter financial future ahead.”
David Smith, Vice President, Worldwide SMB at Microsoft
To get a better idea of what’s at stake and how SMBs are faring as they embark on their data journey, we recently surveyed over 6,000 European SMBs across 20 countries and found that those who have a good grasp of their data are twice as likely to expect to grow over the next year. As a matter of fact, SMBs that are not currently accessing and using their data and gaining insights from it are more pessimistic about their prospects. Data access and insights are giving European SMB’s more confidence in their future.
With SMBs representing an impressive 99% of all businesses in the European Union and two-thirds of total private sector employment (according to the European Commission), healthy and optimistic SMBs are the engine of economic growth and recovery for Europe. As David Smith, Vice President, Worldwide SMB at Microsoft explains, “Businesses of all sizes are sitting on an ever growing amount of information, from customer and sales insights to industry trends. Successful SMBs are using tools to translate this data into insights to see patterns and fuel growth. Learning how to use data to your competitive advantage is now a business-critical skill for Europe’s small businesses.”
At Microsoft we believe that harnessing data and translating it into insights can substantially help SMBs enhance business performance, reach their goals, and help them gain an advantage over competitors. For the thousands of SMBs across the region, having the right tools is crucial for getting the job done and keeping customers satisfied.
Equipping your business for growth and success is absolutely essential. If you’re thinking of getting serious with data, check out these SMBs already harnessing data with powerful results:
And if you’re wondering what’s in it for your business, here’s a breakdown of what data-savvy SMBs in Europe are expecting in terms of growth over the next year, versus SMBs who haven’t taken the big data leap yet.