Small businesses had a big year in 2016, with a stronger economy translating to increased revenue-building opportunities among the nation's entrepreneurs. One of the biggest reasons why small businesses were able to capitalize on a healthier economy was technology, as certain trends have intensified significantly and improved prospects for the typical entrepreneurial firm.
Let's take a look at a few of the biggest technology trends that impacted the small business sector in the past 12 months.
Cloud computing reaches critical mass
Cloud adoption has been strong among small and medium-sized businesses (SMBs) for several years now. The implementation of “cloud” platforms and software allow for data and information to be stored within the internet. With other market trends such as mobility and analytics becoming increasingly more prominent to business success, SMBs have been “forced” to expand their use of the technologies and services involved. BizTech Magazine, a technology publication, explained that nearly three-quarters of small businesses are now using cloud computing solutions, compared to just 20 percent in 2011. What's more, mid-sized businesses are now above 90 percent in adoption.
Analytics still going mainstream
As more valuable information is created by the minute, entrepreneurs have become more aggressive in their pursuits of big data insights. Advanced analytics has been on everyone's radar for years now, but the commoditization of the technologies involved has made them more affordable. Salesforce, a leading provider of customer relationship management tools, states that 21 percent of small businesses currently have analytics and intelligence software in place.
More money is indeed going into analytics, and analysts have asserted that this trend will begin to reach new heights in 2017. Intelligence solutions help to measure performance both internally and externally but have been most common in the context of marketing and client relationship management, Salesforce reported.
Mobile meets local
Forbes, a business publication, affirms that local marketing has been completely transformed by a combination of mobility and analytics, allowing SMBs to reach wide audiences in their target markets. According to the news provider 90 percent of American adults possess a smartphone or tablet, which has resulted in more websites optimized for mobile use.
In 2016, technology dramatically improved the accuracy and effectiveness of local marketing campaigns, and small and medium-sized businesses are highly likely to continue on this path in the new year. All entrepreneurs should strive to optimize their use of these technologies to ensure they are reaching their most competitive levels of performance in 2017.
Let's take a look at a few of the biggest technology trends that impacted the small business sector in the past 12 months.
Cloud computing reaches critical mass
Cloud adoption has been strong among small and medium-sized businesses (SMBs) for several years now. The implementation of “cloud” platforms and software allow for data and information to be stored within the internet. With other market trends such as mobility and analytics becoming increasingly more prominent to business success, SMBs have been “forced” to expand their use of the technologies and services involved. BizTech Magazine, a technology publication, explained that nearly three-quarters of small businesses are now using cloud computing solutions, compared to just 20 percent in 2011. What's more, mid-sized businesses are now above 90 percent in adoption.
Analytics still going mainstream
As more valuable information is created by the minute, entrepreneurs have become more aggressive in their pursuits of big data insights. Advanced analytics has been on everyone's radar for years now, but the commoditization of the technologies involved has made them more affordable. Salesforce, a leading provider of customer relationship management tools, states that 21 percent of small businesses currently have analytics and intelligence software in place.
More money is indeed going into analytics, and analysts have asserted that this trend will begin to reach new heights in 2017. Intelligence solutions help to measure performance both internally and externally but have been most common in the context of marketing and client relationship management, Salesforce reported.
Mobile meets local
Forbes, a business publication, affirms that local marketing has been completely transformed by a combination of mobility and analytics, allowing SMBs to reach wide audiences in their target markets. According to the news provider 90 percent of American adults possess a smartphone or tablet, which has resulted in more websites optimized for mobile use.
In 2016, technology dramatically improved the accuracy and effectiveness of local marketing campaigns, and small and medium-sized businesses are highly likely to continue on this path in the new year. All entrepreneurs should strive to optimize their use of these technologies to ensure they are reaching their most competitive levels of performance in 2017.
