Boosting Data Analytics & Business Intelligence in small businesses

Santhosh By  December 8, 2022

Hello Business Owners, Marketers, and Leaders!

Ever wondered how some businesses always seem to make the right moves? How they know exactly what their customers want, even before they ask? The secret often lies in something called Data Analytics and Business Intelligence. Sounds complicated, right? Don’t worry, it’s simpler than you think, and it’s a superpower even for small businesses in our very own Tamil Nadu!

What is Data Analytics & Business Intelligence? (Simple Talk!)

  • Data Analytics: Imagine you have a big basket of different types of fruits. Data Analytics is like sorting these fruits, counting them, and understanding which ones are ripe, which are not, and which ones people prefer. It’s about looking at past information (data) to understand “what happened.”
  • Business Intelligence: Now, based on what you learned from your fruit basket (what sold, what got wasted), you decide which fruits to buy more of next week, and how to display them better. This is Business Intelligence – using that understanding to make smart plans and decisions for “what to do next.”

In short, it’s using the numbers and facts you already have to make your business smarter and stronger!

Why Small Businesses in Tamil Nadu Need This Superpower?

Our market in Tamil Nadu is buzzing! From the vibrant streets of Chennai to the rich farmlands of Trichy, every business faces competition. To stand out and grow, you need to be smart. Here’s why data is your best friend:

  • Understand Your Customers Better: Do people in Madurai prefer filter coffee or tea in the evenings? When do families in Coimbatore buy new clothes for festivals? Data helps you answer these questions.
  • Save Money & Make More: Knowing what sells well and what doesn’t helps you stock the right items, reduce waste, and find new ways to earn.
  • Beat the Competition: While others are guessing, you’ll be making decisions based on facts, putting you miles ahead.

Easy Steps to Become a Data Pro (Even for a Small Shop!)

You don’t need fancy software or a big team. Here’s how you can start today:

Step 1: Collect Your Treasure (Your Data)

Every small interaction, every sale, is a piece of treasure. Start collecting it!

  • Sales Bills: Keep a record of what sold, how much, and when. Even a simple notebook works, or a basic Excel sheet.
  • Customer Info: If possible, note down customer names, phone numbers, what they bought, and their preferences (e.g., “Mr. Raja prefers spicy snacks”).
  • Website/Social Media Visits: If you have a website or active social media, see which posts get more likes or which products people click on most.
  • Feedback: Listen to what customers say – good or bad. Note it down!

Example: Mrs. Lakshmi runs a small organic store called “Namma Bhoomi” in Erode. She started noting down every customer’s purchase, their contact number, and what they liked or complained about in a simple register.

Step 2: Look at Your Treasure (Analyze It Simply)

Once you have data, look for patterns.

  • What Sells Most? Which products are your superstars? Which are slow movers?
  • When Do People Buy? Are mornings busier? Weekends? Festival seasons?
  • Who Are Your Best Customers? Who buys often? Who buys the most?
  • What Are the Complaints? Are there repeated issues with a product or service?

Example: Mrs. Lakshmi reviewed her register. She found that organic jaggery and specific types of traditional rice sold very fast on weekends. She also noticed many customers asked for fresh organic vegetables, which she wasn’t selling much of.

Step 3: Make Smart Moves (Decisions Based on Data)

Now, use what you’ve learned to make your business better!

  • Stock Smarter: Buy more of what sells, less of what doesn’t.
  • Offer Specials: Run discounts or promotions during slow times or on slow-moving items.
  • Personalise: Send special offers to your best customers based on what they like.
  • Improve Services: Fix problems that customers frequently mention.
  • Introduce New Things: If customers keep asking for something, maybe it’s time to offer it!

Example: Based on her analysis, Mrs. Lakshmi decided to stock more organic jaggery and special rice for weekends. She also partnered with local organic farmers to bring in fresh vegetables twice a week, which was a huge hit! She also sent WhatsApp messages to her top customers about new arrivals they might like.

Real Stories from Tamil Nadu: Data in Action!

Story 1: “Thangam Jewellery” in Trichy

Mr. Karthik owns a well-known jewellery shop, Thangam Jewellery, in Trichy. Sales were steady, but he wanted to grow. He decided to pay closer attention to his customer data.

  • Problem: Sales were consistent but not seeing significant growth.
  • Data Action: Mr. Karthik started recording not just the sale, but also the customer’s special occasions like birthdays and anniversaries. He noted down which specific designs (e.g., traditional temple jewellery, modern light-weight designs) were bought most frequently by different age groups.
  • Analysis: He found that customers mostly bought gold for weddings and major festivals like Deepavali and Pongal. He also noticed that light-weight contemporary designs were very popular among younger customers, while older clients preferred traditional, heavier pieces.
  • Smart Decision: Based on this, he started sending personalised messages to customers a month before their anniversaries or birthdays, offering a small discount on new collections. For festivals, he specifically promoted the popular traditional designs. He also started stocking more of the trendy, lighter designs for the younger generation.
  • Result: Within six months, his sales increased by 15%, and customer loyalty grew significantly because of the personal touch.

Story 2: “Velu’s Idli Shop” in Madurai

Velu runs a small but famous idli shop, Velu’s Idli Shop, in Madurai. He often faced issues with food waste or running out of popular items during peak hours.

  • Problem: Inconsistent food preparation, leading to waste or shortage.
  • Data Action: Velu started a simple logbook. Every hour, he noted down how many plates of idlis, dosas, vadai, and other items were sold. He also noted the weather (e.g., sunny, rainy).
  • Analysis: He quickly saw patterns. On rainy days, hot snacks like *bajji* and *bonda* sold much more than idlis. On sunny mornings, idlis and dosas were the top sellers. Weekend evenings were super busy, and specific items like *ghee roast dosa* would run out fast.
  • Smart Decision: Velu adjusted his cooking quantities daily. On rainy days, he prepared more hot snacks. For sunny mornings, he ensured a steady supply of idlis. On weekend evenings, he prepared extra *ghee roast dosas* in advance. He even introduced a “Rainy Day Special Snack Combo” based on the data!
  • Result: Food waste reduced by 20%, and customers were happier because their favourite items were always available, especially the *ghee roast dosa*!

The Big Benefits for Your Business

Using data, even simply, helps you:

  • Understand Your Customers: Know what they truly want.
  • Make Better Products/Services: Create offerings that hit the mark.
  • Save Money & Time: No more guessing, less waste.
  • Grow Your Business Stronger: Make smart, data-backed decisions that lead to success.

So, dear entrepreneurs of Tamil Nadu, don’t let data scare you. Start small, collect your treasure, look at it with curiosity, and make smart moves. Your business will thank you!

Happy growing!

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