As we move into the All-Ireland Championship series, anyone following the GAA matches or professional sports like soccer and rugby can’t help but notice the growing role of data. In the aftermath of games, stats and analysis are discussed: possession percentages, distance covered, expected goals, etc. These figures help management teams understand what went wrong, where to improve, and how to exploit opponents’ weaknesses.
Just like in elite sport, businesses can harness data to improve performance. And today, the tools to do that are available to even the smallest businesses.
In retail, many small businesses check daily sales. They compare results to the same day last year or monitor week-on-week changes. This analysis is useful for identifying trends, but often it stops there. Few businesses drill into details: Which categories are growing? Which staff are top performers? Which products drive profit not just sales? Real value comes from going deeper, understanding what’s behind the numbers, and using those insights to act.
To gain those insights, you need the right data. It’s not about collecting everything just the right things. That might include returns, stock levels, supplier lead times, or customer behaviour. Once captured, ideally automatically, data can be cleaned, analysed, and used to make informed decisions. The challenge is to ensure you capture the correct data needed to answer meaningful questions.
Many owners rely on gut instinct and rightly so. But data can support and improve those instincts. You might feel a product line is underperforming, but the numbers might show it’s making a strong contribution to your margins. If delivery errors keep cropping up, data might trace it back to one supplier, order picker, or ordering method. Seeing these patterns helps fix problems.
Most businesses already have a powerful data analysis tool at their disposal in the form of Excel. Excel can deliver insights through the use of pivot tables, charts, and formulas. As needs grow, platforms like Power BI or Tableau can combine multiple data sources into live dashboards providing a performance visual which is easy to interpret. For more advanced use, companies may benefit from engaging with specialist data / ERP providers that can support setup, integration, and reporting.
Until now, businesses have collected data, then decided what to analyse. But that’s changing. With artificial intelligence (AI) and machine learning (ML), systems can see patterns you didn’t think to look for. These tools can combine sales, supplier, and external data, like weather or economic trends, to highlight risks and opportunities. AI might flag when a product is likely to sell out based on seasonal trends or local events and suggest reorder points.
While many small businesses are just starting to explore this space, early adopters already have a head start. These companies are best positioned to leverage AI for advanced data analytics. For those who haven’t started, it’s time to cross the data analysis digital divide, or risk getting left behind.
The Digital for Business programme, available through your Local Enterprise Office (LEO), can help identify where data analysis could make a real difference in your business, from improving operations to better understanding customers. For businesses ready to take the next step, the Grow Digital Grant can provide funding support for new software tools that enable more effective data analysis. These supports are available to companies with up to 50 employees.
Find out more at www.localenterprise.ie.
Businesses, like sports teams chasing trophies, must know where they stand and where to improve. Tracking performance, analysing the right metrics, and acting on insights is no longer just for large companies, it’s for any business that wants to grow and stay ahead. In sport or business, it’s not just about playing, it’s about learning from performance to shape a better future.
Support for Small Enterprises: A Business Focus
The Lean, Green and Digital programmes are available to small businesses through their Local Enterprise Office (LEO), which has offices across the country and assists businesses with up to 50 employees. Contact your Local Enterprise Office to find out more about these supports and begin your business change process today: www.localenterprise.ie. To find out more about other national business supports, please visit the National Enterprise Hub: www.neh.gov.ie
JOHN O’SHANAHAN Consultant, Lean BPI
