Business trends are new developments in the business world that impact a company’s priorities, opportunities, and performance. These can be driven by consumer behavior changes, market demands, economic fluctuations, political events, regulatory changes, or technological advances. To make the most of these trends, small businesses must be able to quickly adapt and prioritize. To support this, they must have access to data-driven insights that inform strategic decision-making and lead to process improvement. Fortunately, with advancements in technology and accessible learning platforms, this is easier than ever.
Invest in a beginner-friendly IBM Business Intelligence (BI) Analyst Professional Certificate to build critical skills to generate valuable insights through data warehousing, profiling, and evaluation. With a strong foundation in business intelligence, you’ll be able to create meaningful, targeted marketing campaigns, streamline customer service, and deliver exceptional experiences that boost revenue.
Inflation has become a pressing concern for many consumers, prompting them to seek out alternatives and shop local. This trend presents a huge opportunity for small businesses with a hyperlocal focus to capitalize on the shift, leveraging their intimate relationships with customers and strong local presence to offer products and services that reflect local culture and demand.
In a society increasingly focused on sustainability, consumers are more likely to support companies with sustainable practices and ethical sourcing. This trend is especially important for small businesses, which can use their local presence and intimate customer relationships to differentiate themselves from larger competitors by highlighting their commitment to the community.