Hi,
TLDR: How valuable an affordable outsourced data-entry and analytics solution for small business owners will be for them?
I have been an IT consultant for small businesses [mostly small retailers] for the past few years.
Many of my relatives manage various types of small businesses, so i have a good understanding of how difficult it can be to manage even a small shop at times.
The current gen retail/small business software leaves a lot to be desired in my opinion.
Some of the observations I have made include:
-Users don't want to spend too much money upfront [>$300-500]
-They need continuous support/consulting for how to use the software and especially for how to get the best roi from their software
-For most small biz users, instead of focusing on countless small features or UI components etc, what matters most is the business data accumulated and how to display it and make it accessible so they can use it for the most possible benefits[examples in the end]
-Users can't spend much time on analyzing and understanding their reports due to other operations
-It should be a flexible and customizable solution, meaning if a user wants to add certain additional features/data points, he/she shouldn't have to wait for months [if that feature is added at all]
-The solution must not be dependent on a certain device or platform, it must be accessible from any device/OS, anytime and from anywhere.
Problems for the small business owner:
Most don't use a software because they can't:
A-Afford it
B-No time to learn it
C-No dedicated employee
D-Not even a dedicated machine/system
E-Fear of unreliable/time-consuming/expensive support
F-All the time/effort is consumed on admin/daily tasks which leaves no time for the most important one i.e data analysis
Big corporations have used data analysis [current buzz word 'Big Data Analytics'] to get bigger and more profitable [e.g Tesco/Walmart/K-mart etc]
Based on these observations, I am trying to build an online service that will:
-Provide data entry services [outsourced to developing countries], users can send their data [receipts/invoices, other documents] via fax or scans/images.
-Provide this data in terms of custom reports/analytics which can be accessed online anytime, but not realtime[after 24/48 hrs]
-Advance Feature: Provide consulting on how to use this data to improve their processes and business
-Advance Feature: Provide BI, Exception based reporting and Loss Prevention strategy
Example: The analytics will help you easily answer such questions as:
-How well are my products selling? [Net Sales]
-How much profit am I making on inventory? [Gross margins on individual items and overall]
-How profitable am I overall? [Net Margin]
-What product categories are customers responding to the most or the least? [Best/worst categories according to sales/profit etc]
-How much do I need to buy or markdown? [Weeks of Supply]
-Is my inventory selling fast enough over the year? [Stock turn and Cash Flow analysis]
-How effective is my inventory at generating cash flow and profits? [GMROI]
-How much stock has sold? [Sell through]
-What are the busiest store hours? [Sales Per Hour]
-How well are my employees doing on the sales floor? [Sales Per Employee]
-How effective are my staff at upselling? [Units Per Transaction (UPT) and Average Transaction Value (ATV)]
And many more...
It will require much effort and expertise due to continuous involvement of people [data entry and experts], software and online accessibility.
My questions for you are:
-What can be the concerns for users for such a service?
-Any resource where willing people can beta test this solution?
-How much effort I will need to market it?
-How effective/successful will this be?
I can't ask these questions from either my clients [employer will get angry!] or my relatives [dishonest feedback].
Analytics/Reporting Examples[hosted on tinypic.com]:
http://bit.ly/Dashboard001
http://bit.ly/CUSTOMERREPROT001
http://bit.ly/TOP10-EMPandSTORES001
Thank you very much for your time and input.
TLDR: How valuable an affordable outsourced data-entry and analytics solution for small business owners will be for them?
I have been an IT consultant for small businesses [mostly small retailers] for the past few years.
Many of my relatives manage various types of small businesses, so i have a good understanding of how difficult it can be to manage even a small shop at times.
The current gen retail/small business software leaves a lot to be desired in my opinion.
Some of the observations I have made include:
-Users don't want to spend too much money upfront [>$300-500]
-They need continuous support/consulting for how to use the software and especially for how to get the best roi from their software
-For most small biz users, instead of focusing on countless small features or UI components etc, what matters most is the business data accumulated and how to display it and make it accessible so they can use it for the most possible benefits[examples in the end]
-Users can't spend much time on analyzing and understanding their reports due to other operations
-It should be a flexible and customizable solution, meaning if a user wants to add certain additional features/data points, he/she shouldn't have to wait for months [if that feature is added at all]
-The solution must not be dependent on a certain device or platform, it must be accessible from any device/OS, anytime and from anywhere.
Problems for the small business owner:
Most don't use a software because they can't:
A-Afford it
B-No time to learn it
C-No dedicated employee
D-Not even a dedicated machine/system
E-Fear of unreliable/time-consuming/expensive support
F-All the time/effort is consumed on admin/daily tasks which leaves no time for the most important one i.e data analysis
Big corporations have used data analysis [current buzz word 'Big Data Analytics'] to get bigger and more profitable [e.g Tesco/Walmart/K-mart etc]
Based on these observations, I am trying to build an online service that will:
-Provide data entry services [outsourced to developing countries], users can send their data [receipts/invoices, other documents] via fax or scans/images.
-Provide this data in terms of custom reports/analytics which can be accessed online anytime, but not realtime[after 24/48 hrs]
-Advance Feature: Provide consulting on how to use this data to improve their processes and business
-Advance Feature: Provide BI, Exception based reporting and Loss Prevention strategy
Example: The analytics will help you easily answer such questions as:
-How well are my products selling? [Net Sales]
-How much profit am I making on inventory? [Gross margins on individual items and overall]
-How profitable am I overall? [Net Margin]
-What product categories are customers responding to the most or the least? [Best/worst categories according to sales/profit etc]
-How much do I need to buy or markdown? [Weeks of Supply]
-Is my inventory selling fast enough over the year? [Stock turn and Cash Flow analysis]
-How effective is my inventory at generating cash flow and profits? [GMROI]
-How much stock has sold? [Sell through]
-What are the busiest store hours? [Sales Per Hour]
-How well are my employees doing on the sales floor? [Sales Per Employee]
-How effective are my staff at upselling? [Units Per Transaction (UPT) and Average Transaction Value (ATV)]
And many more...
It will require much effort and expertise due to continuous involvement of people [data entry and experts], software and online accessibility.
My questions for you are:
-What can be the concerns for users for such a service?
-Any resource where willing people can beta test this solution?
-How much effort I will need to market it?
-How effective/successful will this be?
I can't ask these questions from either my clients [employer will get angry!] or my relatives [dishonest feedback].
Analytics/Reporting Examples[hosted on tinypic.com]:
http://bit.ly/Dashboard001
http://bit.ly/CUSTOMERREPROT001
http://bit.ly/TOP10-EMPandSTORES001
Thank you very much for your time and input.
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