In today’s digital era, businesses are forced to make use of data analytics. As their competitors, especially bigger corporations, have started much earlier and invested a lot of money into data analytics, smaller businesses that don’t follow suit get left behind.

The only problem is, most businesses do not fully understand the full capabilities of proper data analytics. As a result, they often miss out on valuable insights and opportunities that data can provide for their business.

Below are 5 challenges that businesses face when incorporating data analytics into their business and how to overcome them.


Data Collection & Management

Most businesses understand the importance of collecting data. However, to gain a holistic understanding, they need to collect a huge amount of data from multiple sources. Without the proper tools, employees will be overwhelmed with the amount of data they need to manually collect on a daily basis. They will also have to spend a lot of time and resources to collect this data manually.

data collection and management

However, when they are supported with a data collection tool, businesses can automate the data collection process throughout multiple touchpoints easily. This enables employees to focus on analyzing and implementing insights to improve the business.


Managing Your Data

After data collection comes data management. With so much data available, businesses often struggle to focus on relevant data and extract valuable insights from it. Businesses have to look into a data system that can collect, organize and store data in cloud servers that are easily accessible anytime and anywhere.


Making Your Data Readable

making your data readable

There’s not much you can gain from raw data. To make it easily understandable, raw data should be converted into a visual format (graphs or charts). Businesses can speed up the process of making data understandable by using software that will automatically turn their data into easy-to-understand reports. Or else, they will have to spend a lot of time pulling data from different sources, struggling with complex formulas, and formatting — all of which is very inefficient and can be frustrating.


Shortage of Skillful Data Analysts

There is a shortage of qualified data analysts with the right skill sets in the market today. Finding an expert data analyst can be challenging and hiring one in-house can be very expensive. It is easier for small businesses to outsource to a third-party data analytics company instead of having to waste time trying to find the right candidate.


Poor Data Quality

Without the right data, businesses cannot glean the kind of insights they need. Usually, inaccurate data is caused by human errors made during manual data entry — making the data inaccurate and unreliable. Another issue is asymmetric data, where data in different systems are not updated properly. To overcome this particular challenge, businesses can invest in a centralized data system.

Now that you understand the challenges of data analytics and how to overcome them, it’s time to adopt a powerful data analytics tool to support your business. A data analytics tool like SYCARDA can help you automatically collect and manage real-time data from your POS system easily. It will also create easy-to-understand reports that can make your data analysis and decision-making process more efficient.

Overcome data analytics challenges today with SYCARDA.



How does data automation help overcome data collection challenges?

Data automation streamlines collection, freeing up resources for insightful analysis, and minimizing errors associated with manual collection.

What is the significance of readable data visualization in data analytics?

Readable visual reports aid understanding and decision-making, optimizing business strategies based on accurate insights.

How can SYCARDA enhance data analytics efforts?

SYCARDA simplifies real-time data collection, management, and analysis from your POS system, transforming insights into actionable strategies. Book a consultation to explore the benefits of SYCARDA for your business.