How modern data storage helps small businesses

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The approximately six million small businesses in the UK far outnumber medium and large enterprises. Despite the impact of COVID-19 business disruptions, one 2021 survey reports that 66% of small (0-49 employees) and medium (50-250 employees) enterprises (SMEs) are expected to grow their businesses over the subsequent 12 months.

Data is essential for any size business. At minimum, it includes crucial information on customers, products and services. As companies evolve their information technology (IT) infrastructure and capabilities, they may turn to data analytics to help spot new business opportunities and resolve issues between supply and demand. Technology market research firm IDC predicted the 2020 worldwide installed storage capacity would grow to 6.8 zettabytes (ZB), an increase of 16.6% over 2019. Through 2024, IDC projects a compound annual growth rate of 17.8% for the installed base of storage capacity.

From small retailers developing e-commerce capabilities to small services firms analysing streams of data to create unique insights, these organisations are learning how to use data to build their businesses. A small UK company today can develop a global business footprint, working with overseas customers and partners.