Young entrepreneurs in the 4.0 era face the question: where does the data come from?

In the context of a booming startup ecosystem, the biggest obstacle for young entrepreneurs is not a lack of tools, but rather a lack of the mindset to properly perceive and utilize data.

The Industry 4.0 era offers countless opportunities to collect data without requiring massive financial resources.

In the wave of digital transformation sweeping across every corner of the economy , many small business owners, from neighborhood grocery stores and cozy cafes to self-owned fashion boutiques, often feel anxious and left behind.

They believe that "Big Data," or data analytics, is a luxury reserved for multinational corporations with vast financial and technological resources. However, this is a misconception.

Small startups don't have to worry about a lack of data.

In fact, a massive data "gold mine" lies hidden within your daily business operations, just waiting to be identified, exploited, and transformed into a competitive advantage.

According to Tuoi Tre Online , the richest and most accessible source of data is information generated from your own internal business operations.

First, you should focus on your customer data file with common questions such as: Who are your loyal customers? What are their names and how can you contact them? What products do they usually buy? What are their shopping habits (morning, noon, evening, weekdays, weekends)? When do they return?

This information doesn't need to be collected from a complex CRM system. A simple notebook, an Excel file, or even direct conversations during customer checkout can provide invaluable insights. Understanding your customers helps you personalize services, run targeted promotions, and build loyalty.

Next, we need data on which products or services are selling best. Which products are taking the longest time to sell? What is the sales volume by hour, day, and season? Which products are often purchased together?

This data can come from your POS (Point of Sale) system, if you have one, or simply from your daily transaction records. Analyzing sales data helps you optimize inventory, plan your restocking more intelligently, and arrange product displays more effectively.

Data collected on transaction processing times is also crucial. For example, business owners need to set milestones such as: When are the busiest times for customers? Which processes are the most time-consuming? Are there any bottlenecks in the service or preparation process? Whether through visual observation or documented records, this data helps streamline processes, minimize waste, and improve service quality.

And another crucial element is customer feedback data. Compliments, suggestions, or even complaints from customers are incredibly valuable qualitative data. They directly point out what you're doing well and what needs improvement. Encourage customers to provide feedback and record it systematically.

Besides internal data, the flat world of the Internet is also a treasure trove of publicly available and free data that small businesses can easily tap into.

Use Google Trends because this tool allows you to track public interest in a specific keyword, product, or service over time and geographic area. You can see whether search trends are increasing or decreasing, and adjust your marketing or product strategies accordingly.

For example, a coffee shop could use Google Trends to see whether interest in "salted coffee" or "brown sugar bubble tea" is rising or falling.

Websites like the General Statistics Office of Vietnam (gso.gov.vn) provide a wealth of information on population, average income, household spending, and industry growth by locality. These figures help you better understand your target market, development potential, and position yourself more accurately.

Furthermore, don't underestimate comments, likes, and reviews on the social media channels you use, such as Facebook, Instagram, Google Maps, Foody, ShopeeFood, etc. This is a rich source of qualitative data about customer perceptions of your products, services, and brand. Social listening, even on a small scale, helps you detect problems early and respond promptly.

In addition, free tools like Google Forms allow you to create quick surveys, gathering feedback directly from customers or potential customers. Random conversations and short in-store interviews also provide valuable insights into customer needs and desires that no number of statistics can fully capture.

Transform data into revenue.

The most important thing isn't how much data you have, but what you do with it. For small businesses, data must lead to concrete action and deliver immediate results.

Start by asking simple questions about your own business, such as which products have been selling best recently, so you can increase your inventory and boost their promotion.

Alternatively, research could be conducted to run a special "happy hour" promotion in the morning for a specific customer group by collecting user behavior data. Staff could be retrained, and customer service processes improved.

Data collection for small businesses doesn't require complex systems or exorbitant costs. It demands meticulousness, observation skills, and a "data-centric" mindset in all operations.

By transforming seemingly insignificant pieces of information into profound insights, small businesses can optimize operations, enhance customer experience, and thrive in the digital age.

Data is not the property of any one person; it is the key to unlocking the door to success for everyone, including the smallest startups.

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Source: https://tuoitre.vn/ban-tre-khoi-nghiep-thoi-4-0-va-cau-hoi-du-lieu-lay-tu-dau-20250618135113903.htm