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SMBs are turning to data to steer their Covid recovery

(Image credit: Image Credit: Geralt / Pixabay)

Most decision makers at small and medium-sized businesses (SMBs) believe the data their organization holds will play a major role in long-term plans to recover from the Covid-19 pandemic.

According to a new report from storage company Seagate, based on a poll of 3,000 executives, almost two thirds (65 percent) of respondents’ post-Covid-19 recovery strategies revolve around analysis of company data.

The pandemic has also made many SMBs re-evaluate the information they hold, with more than half (55 percent) saying they now recognize the true value of their business data.

According to Seagate, data relating to customer acquisition (59 percent) and customer retention (57 percent) is generally perceived as most valuable, followed by employee productivity metrics (52 percent).

“Small and medium-sized businesses are key growth engines of the global economy, and our research suggests that many are realizing to the potential value that data can deliver for their business as they look ahead at the road to recovery,” said Jeff Fochtman, Senior Vice President of Marketing and Business at Seagate.

“As businesses of all shapes and sizes become increasingly dependent on technology, realizing the true value of the data those businesses have stored will become critical to unlocking future growth and innovation opportunities.”