Experienced entrepreneurs often run their businesses from gut instinct, likely reviewing historical numbers and using this data as guidance. However, there is much more than the mere lagging indicator that historical data provides. Frankly, business owners are typically sitting on a gold mine of data that can be used to catapult their businesses.
Small business owners are being inundated with information about the importance of data analytics or ‘big data’ to their business. These terms, taken out of context, can be very intimidating to an owner of a small-to-medium-sized business.