One interesting observation contained within Techaisle’s 2016 SMB & Midmarket Analytics Adoption survey results is the relationship between sales channel and analytics strategy. The survey of 1,116 US SMBs found that a higher percentage of businesses with an omni-channel approach that includes both online and offline sales channels are using analytics than those relying entirely on either online or offline sales. In fact, overall, 85% of omni-channel SMBs are using analytics and 38% are using big data solutions. On the planned side of the equation, another 46% of omni-channel SMBs are investigating use of big data technologies. Even the average spending on analytics by omni-channel SMBs is 3X that of eCommerce only SMBs and 6X of those that do not sell online.
Data illustrates that nearly 60% of SMBs (and almost three-quarters of midmarket firms) employing an omni-channel strategy are already using analytics to track website hits – a rate that is higher than for firms using ecommerce-only, and much higher than for firms that do not use online sales.
Another set of data adds context to this focus on website tracking. Omni-channel businesses tend not to be using particularly advanced approaches to analytics:
• 39% use “descriptive” analytics, and
• 30% have deployed “predictive” or “prescriptive” analytics.
However, omni-channel firms do tend to have some type of strategy – only 5% report that their use of analytics is ad hoc, vs. 13% of ecommerce-only firms and 18% of firms with no online sales.
The current analytics solution deployment & usage differs greatly from future plans within the omni-channel SMBs.