A majority of Belgian SMEs (55%) are convinced of the added value of data analysis within an organization to make better business decisions.

A survey by Exact of 500 SMEs and accountants in Belgium shows that data analysis is becoming increasingly important for business decisions. The reasoning is entirely logical: the more meaningful your numbers are, the more effectively you can respond to the trends and challenges in your industry. 55 percent of Belgian SMEs are convinced of the added value of data-driven work.

For 14 percent, this data is even crucial when business decisions have to be made. There is also a large proportion (45%) for whom data currently plays a limited role within the organization.

55 percent of accounting firms say they believe data analytics leads to better business decisions. Business service providers (53%) and construction companies (59%) are also convinced of this. Confidence is greatest among trading (68%) and manufacturing companies (68%).

This rising trend leads to a curious attitude towards new software tools. Accountants (74%) are particularly open to this, followed by trading companies (54%), construction companies (45%), manufacturing companies (45%) and business service providers (45%).

“Data-driven working is on the rise, but it seems that data still plays a limited role for a large group of entrepreneurs,” says Joep Hoeks, CPO at Exact. “Data is primarily a question of culture: it is important to ensure that its use within your company is systematic. This requires you to pay attention to both the support and the increasing digitalization trend in your company.”