The true backbone of most economies are smes(Small medium enterprises). While most of the SMEs feel confident about the future, they are also acutely aware of the possibility that they may fail within five years. SMEs face tougher times than ever before.
As consumption patterns evolve rapidly with technological disruption, relying on traditional means of tracking consumer habit tracking may no longer be enough to facilitate important decision making. The ability to have this information on-demand can prove useful in helping businesses to keep track of changes in consumer behaviour.
Data Analytics or Business Intelligence are common functions employed by large corporations. In general, these functions are supported technologies that can gather data and make sense of results, trends and patterns to improve understanding business performance, competitors’ progress and customer behaviours. The access to such services and technologies are widely available but fragmentally offered. Unfortunately, this means that it is inaccessible to SME business owners.
A major disadvantage is the high cost of investment. An sme would need to invests a hefty sum to develop this capability if they wish to build their own Business Intelligence team and For a medium enterprise with heavy operational costs and cash flow vulnerabilities, they may perceive data analytics as a luxury only for enterprises with deep pockets.
DATAVLT aims to bring affordable business intelligence to SMEs by providing data analytics leveraged on Blockchain technology, supported by Artificial Intelligence. The means immutable secure data processing that is accountable and auditable. The DATAVLT data analytics platform not only provides business performance analysis, but also forecast of trends and scenario based outcomes, with its Predictive Learning capabilities. The DATAVLT platform equips business owners with invaluable information, enabling them to make decisions in areas such as business strategies, customer prospecting, customer retention, sales forecasting, cross-selling, marketing, segmentation, production, capacity planning, etc. In this era, the ability to accurately foresee market trends and cater to the needs of the ever-changing consumer and customer is the key to building sustainable business growth.
Read More from their white paper — https://datavlt.com/dataVLT_web/wp-content/uploads/2018/04/DATAVLT-Whitepaper-ver0.9.1_EN.pdf
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