In a rapidly evolving business landscape, small and medium-sized businesses (SMBs) are at a critical juncture where adopting advanced technologies is no longer a luxury but a necessity for survival and growth. Artificial Intelligence (AI), once the preserve of large corporations with deep pockets, is now becoming the driving force behind SMB competitiveness and operational efficiency. The rise in AI adoption among SMBs signals a transformative shift towards digital agility that could redefine success in this dynamic sector.

Digital Transformation as a Competitive Necessity

A recent survey by AI4SP and Microsoft found that 52% of SMBs are utilizing AI tools within their operations, reflecting a substantial move towards digital transformation. This statistic is more than a number; it underscores the broad-based recognition among SMBs of the imperative to integrate technology into their business models. This shift is driven by the need to remain competitive in an environment where agility, responsiveness, and innovation are paramount.

The importance of this transition cannot be overstated. For SMBs, digital transformation through AI adoption is not just about keeping up with trends but about establishing a foundation for sustainable growth. The ability to harness AI for tasks such as data analysis, customer relationship management, and even automated customer service allows SMBs to punch above their weight, competing with larger players in their industries.

However, this integration does not come without challenges. It necessitates a willingness to invest in new technologies and an openness to partner with digital experts who can enhance in-house skills. It’s critical for SMBs to not only adopt AI but to foster a culture of continuous learning and adaptation to maximize the potential of these powerful tools.

Proven Effectiveness of AI in Business

The benefits of AI in SMB operations are not merely theoretical. An overwhelming 91% of businesses that have integrated AI report that it has made their operations more successful,¹ pointing to tangible outcomes such as improved efficiency and heightened business success. Furthermore, a remarkable 82% of AI-adopting businesses maintain an optimistic outlook on AI’s potential to propel future growth.² These insights reveal a growing confidence among SMBs in AI as a tool for long-term prosperity.

The optimism is well-founded. AI-driven analytics can offer deep insights into market trends and customer preferences, allowing businesses to tailor their strategies effectively. AI-powered automation can streamline operations, reducing the workload on human staff and minimizing the scope for error. These benefits contribute to a business environment where decision-making is informed, strategic, and forward-looking.

Yet, to truly leverage AI, SMBs must move beyond mere adoption to an understanding of its potential. Sharing success stories and practical use cases can provide the necessary blueprint for others to follow. These narratives can illustrate how AI is not just a technological upgrade but a transformational tool that can revamp the entire business process, driving growth and innovation.

Bridging the AI Knowledge Gap

Despite the promising outlook, a significant knowledge gap exists. About 74% of SMBs have expressed interest in AI, yet many admit to having only a rudimentary understanding of its benefits.¹ Additionally, 70% would be willing to invest more in AI and automation, indicating a clear demand for accessible AI solutions and education.¹ This gap represents a dual opportunity for both the providers of AI technologies and SMBs themselves.

For technology providers, there is a burgeoning market for AI tools and services that cater specifically to SMBs. There’s a call for offerings that demystify AI, providing intuitive platforms that do not require deep technical expertise to manage. For SMBs, there’s a pressing need to invest in AI literacy, ensuring that the workforce can adapt to and exploit these new tools effectively.

Developing and promoting AI-focused training programs and resources can empower SMBs to bridge this knowledge gap. These initiatives can help SMBs navigate the complexities of AI and automation, enabling them to unlock the full spectrum of benefits these technologies offer.

Cost Savings Through AI

The financial incentives of AI adoption for SMBs are clear and compelling. 58% of SMBs anticipate saving over $1,000 in the coming year due to the integration of AI and automation technologies.¹ Moreover, 60% of SMBs report that using AI has increased the efficiency of their operations.¹ These savings are not just a reflection of reduced direct costs but also an indicator of broader operational efficiencies.

Implementing AI can lead to more streamlined workflows, where tasks are performed more quickly and with fewer errors, reducing the need for costly revisions and do-overs. It can also enhance the precision of marketing campaigns, ensuring that dollars are spent targeting the prospects most likely to convert. For SMBs operating on tight margins, these savings can be the difference between stagnation and growth.

Encouraging SMBs to explore AI for both cost management and operational enhancements can lead to improved profitability. As AI technologies become more accessible and their applications more widespread, SMBs that embrace these tools can achieve greater financial health and allocate resources to areas that foster growth and innovation.

The strategic adoption of AI technologies across the SMB sector is demonstrative of a paradigm shift towards enhanced operational efficiencies, cost savings, and an optimistic outlook on future growth. As businesses become more cognizant of the multifaceted benefits of AI, they are progressively gearing up for a deeper integration of these technologies into their core operations. This evolving trend is mirrored in the growing willingness among SMBs to channel investments into AI solutions, recognizing them as pivotal in maintaining competitiveness in a swiftly transforming market landscape.

These developments allude to a future where SMBs’ success is increasingly influenced by their effective utilization of AI technologies. The evidence underscores the need for continued education and robust support systems to fully harness AI’s potential in bolstering business practices and achieving enduring growth. As more SMBs pivot towards this technological awakening, those who navigate the AI transition effectively are poised to redefine the benchmarks of business excellence and sustainability in the digital era.

Sources:

1. “Small Business Now: An AI Awakening.” Constant Contact, 2023,
   news.constantcontact.com/small-business-now-ai-2023,
   drive.google.com/file/d/17tID61RqIGJVRCMr2SHaSeYZSW5NSg8l/view
2. “Empowering Small Business: The Impact of Technology on U.S. Small Business (Second Edition).” U.S. Chamber of Commerce, 2023,
   uschamber.com/small-business/smallbusinesstech,
   uschamber.com/assets/documents/The-Impact-of-Technology-on-Small-Business-Report-2023-Edition.pdf.

This content was originally posted on Medium.

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Digital transformation has become more than just a buzzword; it’s now a fundamental imperative for businesses seeking to thrive in an era defined by rapid technological advancements. As organizations across various industries grapple with the challenges of embracing digital transformation, a recent study conducted by Chief Executive Group in collaboration with Amazon Web Services (AWS) reveals both the high aspirations and the significant execution gaps in leveraging digital transformation for sustainable business growth.

The study surveyed over 500 C-suite executives and public company board members, revealing a substantial gap between the aspiration to harness digital transformation for growth and the actual adoption of advanced digital practices.

The Aspiration: Growth Through Digital Transformation

One of the key takeaways from the study is the strong desire among leaders to leverage digital transformation for growth. More than half of those surveyed listed growth through either new (28 percent) or existing (36 percent) products or markets as their company’s top priority for the year ahead. This aspiration aligns with the widespread recognition that digital transformation can be a powerful catalyst for business expansion and innovation.

The Reality: A Disconnect in Execution

Despite the high aspirations, the study indicates that many organizations are struggling to translate their digital transformation intentions into concrete actions. The data reveals several critical areas where companies fall short of harnessing the full potential of digital transformation:

1. Insufficient Utilization of Customer Data:

• The study highlights that most businesses still rely on anecdotal comments or conversations (23 percent), customer service data (21 percent), and ongoing tracking of NPS scores (15 percent) to understand customer needs.
• Only a mere 2 percent have adopted advanced techniques such as AI-driven insights to gain a deeper understanding of customer preferences and behaviors.

2. Lag in Real-Time Adaptation:

• Approximately 47 percent of leaders expressed the desire to use real-time data to inform and change their strategies instantly, but only 28 percent reported currently doing so.
• Many companies still align their strategies with three- to five-year projections (30 percent), missing out on the agility required to adapt rapidly to evolving consumer trends.

3. Traditional Approaches to Customer Involvement:

• A staggering 82 percent of organizations rely on longstanding, non-digital practices for involving customers in the development process.
• Only 15 percent use continuous monitoring of purchase or usage behavior, and a mere 3 percent do so at scale using algorithmic insights.

4. Long-Term Business Cases vs. Real-Time Adaptation:

• While 47 percent of organizations aspire to use real-time data for strategy adaptation, 30 percent still rely on long-term (3-5 years) business cases and projections.

These findings highlight a stark disconnect between ambition and execution when it comes to digital transformation. Many organizations are grappling with the challenge of embracing the real-time, data-driven, and customer-centric approaches that are essential for unlocking the full potential of digital transformation.

Bridging the Gap: Strategies for Success

To bridge the gap between aspiration and execution in digital transformation, organizations need to adopt a more strategic and holistic approach. Here are some key strategies:

1. Prioritize Customer-Centricity:

• Invest in advanced data analytics and AI-driven insights to understand customer needs, preferences, and behaviors in real-time.
• Leverage customer advisory boards, focus groups, and continuous monitoring of purchase and usage behavior to co-create products and services with customers.

2. Embrace Real-Time Decision-Making:

• Shift from long-term projections to real-time data-driven decision-making.
• Invest in technology and analytics capabilities that enable instant strategy adaptation based on real-time insights.

3. Foster a Culture of Innovation:

• Encourage a culture of continuous experimentation and innovation.
• Empower teams to explore new products, services, and go-to-market strategies based on real-time data.

4. Invest in Digital Infrastructure:

• Ensure that the organization has the necessary digital infrastructure and tools to collect, process, and analyze real-time data.
• Collaborate with technology partners to stay at the forefront of digital capabilities.

5. Educate and Empower Leadership:

• Provide leadership teams with training and resources to understand the value of digital transformation.
• Foster a mindset of adaptability and openness to change.

Digital transformation holds immense potential for driving business growth and innovation. However, organizations must bridge the gap between aspiration and execution to reap the full benefits. By prioritizing customer-centricity, embracing real-time decision-making, fostering a culture of innovation, investing in digital infrastructure, and educating leadership, companies can position themselves for success in the digital age. The journey may be challenging, but the rewards are substantial for those who can truly unleash the power of digital transformation.

This content was originally posted on Medium.

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Here’s the full interview:

Get the bonus Q&A with the audience by visiting  GreatTechPros.com.

Here are some short video clips of topics discussed:

• What has changed in Business Analytics?
• What is your approach to creating data visualizations?
• Free/Low cost data visualization tools for small businesses.
• What type of data visualization recommendations do you offer to larger businesses that do not have tool/platform preferences?
• What were you doing with CDC?
• What drove you to Analytics & Data Visualization as a Career?

Useful Links:

• You can connect with Teneika on her website, Twitter and Linkedin.
• Tools include PowerQuery, PowerBI, Tableau, Google Data Studio and SAP Tools.
• Though it is important to implement a new platform/solution, it is equally as important to inform and educate end-users on how to utilize the new platform or solution.
• Every career/job has a data component – Do make an effort to learn how to utilize data as a skill. Doing so will enhance your skill-set and help you enhance your career.
• College students should look into scholarship, internship and other opportunities offered by their university like the Thurgood Marshall College Fund (TMCF) and INROADS internships.
• For those who are new to data visualizations, start with Microsoft Excel, work to graduate from a beginner Excel user to an advanced Excel user, then learn Microsoft Power BI and Tableau.
• Microsoft currently offers free Power BI training, Tableau Prep & Tableau Desktop are not free unless you are a student, freeCodeCamp and SimpliLearn.

Watch or Listen to Great Tech Pros anytime, anywhere.

• Watch on YouTube, 
• Tune in on Facebook Watch, 
• Listen on Google Podcasts, 
• Be all ears on Spotify, 
• Eavesdrop on Apple Podcasts, 
• and more.

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Here’s the full interview:

Get the full interview + bonus Q&A with the audience by visiting GreatTechPros.com.

Here are some short video clips of topics discussed:

• How Business Intelligence & Data Science Differ
• 2 ways to get into Business Intelligence and Data Science
• The Programming and Querying Languages of Data Analytics
• 2 Important Resources for a Data Consultant
• What events and conferences do you use to build your network?
• Resources to get started in Data Science

Useful Links:

• The best way to connect with Chris Hyde is on Twitter. He can also be found on Linkedin.
• Chris Recommends the following books:
• Learning R by Richard Cotton.
• R for Data Science: Import, Tidy, Transform, Visualize, and Model Data by Hadley Wickham and Garrett Grolemund.
• Think Stats: Exploratory Data Analysis by Allen Downey.

Watch or Listen to Great Tech Pros anytime, anywhere.

• Watch on YouTube,
• Tune in on Facebook Watch,
• Listen on Google Podcasts,
• Be all ears on Spotify,
• Eavesdrop on Apple Podcasts,
• and more.

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In this article, we’ll explore the disadvantages of a mass communication approach to Business-To-Consumer (B2C) communication and how digital media technologies can help overcome these issues.

One disadvantage for businesses that use mass communication is that they cannot accurately identify demand for their products and services because their delivery method focuses on reaching the largest amount of audiences as efficiently as possible. An example of this is advertising at sporting events that attract large amounts of consumers due to its popularity. Though they reach a large number of people, they lose out on ensuring that they are advertising directly to the individuals who are specifically interested in their products and services.

Another disadvantage for these B2C’s is that they cannot directly reach consumers on almost all digital media platforms. For instance, by advertising via television commercials only, they may miss out on advertising to consumers via online delivery channels like video streaming, blog content, and mobile application advertisements.

Businesses can overcome traditional communication limitations by using advertising analytic tools and services that can “chew through terabytes of data and hundreds of variables in real-time” to measure how people interact with advertisements across multiple media channels and to determine what marketing efforts really work, according to Wes Nichols’ Harvard Business Review article “Advertising Analytics 2.0”. Doing this can help a company determine the exact combination of digital ads including location, placement, and time, that most effectively stimulated the desired engagement with their target audience.

Next, we’ll explore three ideas that impact how businesses communicate through their public website.

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Originally posted at www.GreatTechPros.com.

Excerpt from the Interview:

Wylie Blanchard: So, let’s talk about analytics for a second. How has analytics changed how we market content to people?

Don Alava: It’s interesting. When I first started out – well the names have changed over time – there was a database marketing, there was targeted marketing, now it’s big data science. When you look at it, it’s going back to what is the objective of your marketing campaign and what’s the best way to measure it. What’s nice about analytics and technology is that you have more data available. When I was on the ad agency business I got into direct marketing and we were measuring things based on responses to numbers or how many mail coupons people submitted and returned to us. So we could count it that way but now with the internet, with mobile devices, you’re getting that data almost instantaneously. So whereas in a direct mail campaign you waited for a couple of weeks to measure the campaign. Now when you’re in the digital/mobile space you can get that information right away and that’s where analytics comes in… Humans – while we can do a lot of analytics – when you bring in data science and machine learning they can keep up with the pace of the data that’s coming in to give you an edge over your competitors. It all starts with what’s the goal of your business and how should you best measure that. Then use the data to help get you that information and get the competitive edge over your competition who may not have quite figured out how to use their data to inform their marketing campaigns, as well as, their follow-up campaigns to those who eventually become customers.

Useful Links:

• Connect with Don Alava on Linkedin and Twitter.
• Learn more about Universal Technical Institute.
• Follow on Linkedin.

Watch or Listen to Great Tech Pros anytime, anywhere.

• Watch on YouTube,
• Tune in on Facebook Watch,
• Listen on Google Podcasts,
• Eavesdrop on Spotify,
• Be all ears on Apple Podcasts,
• and more.
  

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EVENT UPDATE: The SQL Saturday Chicago event is always amazing. I presented two sessions at the event: Become a SQL Pro who’s in High Demand and You’re hired! Creating value before and after the interview.

Notable Sessions: Here are two sessions that I attended that were both educational and enjoyable.

• Andy Wickman (t, l, b) “Lessons from Consulting: Third-Party Vendors,” which explained what to expect and what questions to ask when dealing with third-party software that interacts and manages company data. Andy shared what key things to check and look for in 3rd party software that will have an impact on a data professionals role. He also shared advice on how to work with these vendors that can make integrating their software into a company’s enterprise more successful.
• David Klee (t, l, b) “My Brain Has Blue Screened – Let’s Laugh,” which was a fun exploration of unique stories that data professionals have encountered over their career. Since this was the last session of the day it was a much-needed laugh and break from learning.

More below, including  Event Photos.

Event Follow Up:

SESSION 1 DESCRIPTION:

Become a SQL Pro who’s in High Demand.

Speaker(s): Wylie Blanchard

Track: Professional Development

Expertise in SQL is an in-demand IT skill. As demand continues to grow, so does the increase of SQL professionals entering your specific industry. Learn what’s needed to ensure that you become a stronger technology authority in your industry and a SQL Pro who’s always in High Demand.  You’ll learn how to invest in growing your expertise, improve your social/people skills, how to effectively sell and market your talent, what is a “source of truth” and why is it extremely important and more.

Session Materials for Event Attendees: 

Download: Presentation Slides 

Event Follow Up:

SESSION 2 DESCRIPTION:

You’re hired! Creating value before and after the interview.

Speaker(s): Wylie Blanchard

Track: Professional Development

Landing a gig as an employee, consultant or contractor has become highly competitive. You need to differentiate yourself in a way that tells the hiring manager that you are more valuable than everyone else. In this session, I’ll share 3 things that I’ve learned from my experience as an employee, hiring manager and consultant that will help you market your expertise, create new opportunities and get them saying “you’re hired”.

Session Materials for Event Attendees:

Download: Presentation Slides 

Wylie provided excellent tips on how to make yourself stand out when marketing yourself and reinforced important principles like focusing on quantifying your achievements.

Steven A Osacky
Crowe LLP

Event Follow Up:

PHOTOS FROM THE EVENT:

SQLSaturday is a training event for Microsoft Data Platform professionals and those wanting to learn about SQL Server, Business Intelligence and Analytics. This event will be held on Mar 23, 2019, at Benedictine University, 5700 College Rd, Lisle, Illinois, 60532, United States.

Get more great content at WylieBlanchard.com... Need a great speaker for your next event, contact us to book Wylie Blanchard now.
Learn what clients are saying about his programs....

Follow Up:

SESSION DESCRIPTION:

You’re hired! Creating value before and after the interview.

Speaker(s): Wylie Blanchard

Track: Professional Development

Landing a gig as an employee, consultant or contractor has become highly competitive. You need to differentiate yourself in a way that tells the hiring manager that you are more valuable than everyone else. In this session, I’ll share 3 things that I’ve learned from my experience as an employee, hiring manager and consultant that will help you market your expertise, create new opportunities and get them saying “you’re hired”.

Session Materials for Event Attendees:

Download: Presentation Slides 

Wylie provided excellent tips on how to make yourself stand out when marketing yourself and reinforced important principles like focusing on quantifying your achievements.

Steven A Osacky
Crowe LLP

Event Follow Up:

PHOTOS FROM THE EVENT:

RT @stilldrey: Great presentation @WylieBlanchard1 on creating value before and after the interview! #SQLSatChicago

RT @SQLBob: You’re hired! Creating value before and after the interview to be by @WylieBlanchard1 #SQLSatChicago

SQLSaturday is a training event for Microsoft Data Platform professionals and those wanting to learn about SQL Server, Business Intelligence and Analytics. This event will be held on Mar 23, 2019, at Benedictine University, 5700 College Rd, Lisle, Illinois, 60532, United States.

Get more great content at WylieBlanchard.com... Need a great speaker for your next event, contact us to book Wylie Blanchard now.
Learn what clients are saying about his programs....

The resources from this session are now available.

Session 1.

Become a SQL Pro who’s in High Demand.

Speaker(s): Wylie Blanchard.

Track: Professional Development.

Expertise in SQL is an in-demand IT skill. As demand continues to grow, so does the increase of SQL professionals entering your specific industry. Learn what’s needed to ensure that you become a stronger technology authority in your industry and a SQL Pro who’s always in High Demand.  You’ll learn how to invest in growing your expertise, improve your social/people skills, how to effectively sell and market your talent, what is a “source of truth” and why is it extremely important and more.

Session resources and photos are now available.

EVENT UPDATE Mar 23 2019: A speaking slot became available at the last minute, giving me the opportunity to present on another topic. I decided to keep the focus on career enhancement by sharing ways to position yourself as the candidate of choice during the interview process.

Session 2.

You’re hired! Creating value before and after the interview to before and after the interview.

Speaker(s): Wylie Blanchard.

Track: Professional Development.

Landing a gig as an employee, consultant or contractor has become highly competitive. You need to differentiate yourself in a way that tells the hiring manager that you are more valuable than everyone else. In this session, I’ll share 3 things that I’ve learned from my experience as an employee, hiring manager and consultant that will help you market your expertise, create new opportunities and get them saying “you’re hired”.

Session resources and photos are now available.

SQLSaturday is a training event for Microsoft Data Platform professionals and those wanting to learn about SQL Server, Business Intelligence and Analytics. This event will be held on Mar 23, 2019, at Benedictine University, 5700 College Rd, Lisle, Illinois, 60532, United States.

Get more great content at WylieBlanchard.com... Need a great speaker for your next event, contact us to book Wylie Blanchard now.
Learn what clients are saying about his programs....

EVENT UPDATE: The SQL Chicago community is always the best. I had a full house for this session and the audience participation was amazing. Feedback from the audience was that they enjoyed the discussion portion on scaling degrees and certifications to maximize the return on their investment. I didn’t originally plan to share my views on scalability but I’ll definitely include it in my next session on this topic.

Notable Sessions: Here are two sessions that I attended that were great in both content and delivery.

• Henry Treftz’s (t) “Why Third Party Vendors Do The Things They Do,” which gave us an inside look at why ISV’s design their technology in ways that can sometimes make the end user ask, “Why did they do that”. Henry shares the pros and cons to ISV design.
• Ed Leighton-Dick’s (t, l, b) “How to Keep Your Databases Secure in Just Minutes a Day,” because we all need to learn more about database security. Ed is the go-to resource for helping us keep our DB secure.

Follow Up:

SESSION DESCRIPTION:

[pdf-embedder url=”https://www.wylieblanchard.com/wp-content/uploads/Become-a-SQL-Pro-who’s-in-High-Demand_SQL-Saturday-719_Chicago-2018_-Benedictine-University_Wylie-Blanchard.pdf” title=”Become a SQL Pro who’s in High Demand_SQL Saturday 719_Chicago 2018_ Benedictine University_Wylie Blanchard”]

Download: Presentation Slides

Cool slide deck, nice presentation and organization of content as well as an awesome story to be telling others at UGs and SQL Saturdays. Thanks for paying it forward!

— Tim Radney (@tradney) March 19, 2018

SQLSaturday is a training event for Microsoft Data Platform professionals and those wanting to learn about SQL Server, Business Intelligence and Analytics. This event was be held on Mar 17, 2018, at Benedictine University, 5700 College Rd, Lisle, Illinois, 60532, United States.

Get more great content at WylieBlanchard.com... Need a great speaker for your next event, contact us to book Wylie Blanchard now.
Learn what clients are saying about his programs....