Published in Entrepreneur: 5 Misconceptions Small-Business Owners Have About Big Data
Originally published in Entrepreneur
By Nicole Leinbach Reyhle
March 17, 2017
Nicole Leinbach Reyhle — retail strategist, small-business advocate, and founder of Retail Minded — was featured in Entrepreneur for her expert perspective on one of the most misunderstood topics in small business today: big data.
In her article, “5 Misconceptions Small-Business Owners Have About Big Data,” Nicole breaks down why data is no longer reserved for large enterprises — and how small businesses that ignore it risk falling behind.
Rethinking Big Data for Small Business
While data-driven decision-making has been a common practice among large corporations for years, Nicole explains that advances in technology have made data more accessible, affordable, and actionable for businesses of all sizes. Yet many small-business owners continue to avoid it due to outdated assumptions about cost, complexity, and relevance.
“All business owners are constantly required to make critical decisions, and the most effective decisions are not based on gut feelings, but on facts and data.”
Nicole argues that data should not replace the human touch entrepreneurs bring to their businesses — but rather enhance it, allowing owners to make smarter decisions, operate more efficiently, and better understand their customers.
The Five Misconceptions Explored
In the article, Nicole outlines five common misconceptions that prevent small businesses from fully leveraging data:
The human touch outweighs anything automated
While intuition and passion matter, relying solely on gut instinct can limit growth. Data helps validate decisions and reduce risk.Data won’t improve revenue
From inventory management to AI-powered automation, data-driven tools can save time, reduce costs, and increase profitability.Data should immediately solve problems
Data is most effective when used to inform and support decision-making over time — not as a quick fix.Data is too broad for niche businesses
Even highly specialized businesses can benefit from data insights, often using affordable or outsourced solutions.Collecting data is too expensive
Many valuable tools — including Google Analytics — are free or low-cost, making data more accessible than ever.
Throughout the article, Nicole emphasizes that time is money, and investing in the right tools can ultimately free business owners to focus on growth, strategy, and customer experience.
Putting the Customer First
At the heart of Nicole’s argument is the idea that data should always connect back to the customer journey — from discovery to purchase and beyond. When used intentionally, data enables small businesses to strengthen customer relationships, improve operational efficiency, and compete more effectively in crowded markets.
Read the Full Article on Entrepreneur
This summary highlights just a portion of Nicole’s insights. The full article dives deeper into how small businesses can realistically and responsibly use data to fuel growth.
—>Read the full article:
“5 Misconceptions Small-Business Owners Have About Big Data”
Source: Entrepreneur
https://www.entrepreneur.com/science-technology/5-misconceptions-small-business-owners-have-about-big-data/290594
