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Data-driven decisions: A key success factor for SMEs

25 Jan 2022

In an era of digitalization when digital transformation allows faster communication and lowers costs, while strengthening business management and operations, it also poses challenges for SMEs and entrepreneurs in harnessing the power of organizational data. With rapid advances in digital services and applications, SMEs and individuals can use simple yet effective tools to interpret information and improve productivity with new knowledge and insights.

For SMEs and entrepreneurs to benefit from access to digital technologies, they must have clear strategies for data-based decision-making. The benefits of digitization to industries and organizations can be maximized only when the data recorded and generated are properly managed and analyzed. This in turn necessitates a change in the mindset from conventional to digital thinking when identifying and solving problems through data-based decisions.

The APO and Thailand Productivity Institute organized a training course on Data Analysis and Applications for Digitization in SMEs, 14–17 December. It was attended by 31 participants from 12 member countries who represented government agencies, NPOs, the private sector, industrial associations, and academia. The sessions were conducted by five resource persons from the ROC, Hong Kong, Singapore, and Thailand. The course sessions covered data collection and analysis methods as well as trends, tools, and implications of data analysis for productivity enhancement.

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