How to use rich data insights to scale up your business

Data is one of your most valuable assets, and the foundation of every successful startup growth strategy – but only 26% of IT decision makers told us that all their innovation efforts are based on data.

Becoming data-driven enables startups to unlock valuable insights and make informed strategic decisions. Edge computing takes that a step further, giving businesses access to real-time data on their operations, customers and wider environment.

Here’s how you can utilize data at the edge to scale up, stay agile and unlock innovation.

How edge computing maximizes data

Edge computing is a network setup in which data is processed at or near the point it’s collected, instead of being transmitted to a central data center for processing. 

It may sound complex, but common tech like smart watches and digital assistants like Siri and Alexa are all examples of edge devices, since they collect and compute data themselves then communicate the processed result to the cloud for storage.

Edge computing makes data processing faster, because it’s computed locally instead of relying on network speeds to process the data and return it in a digestible format. This speed enables access to near real-time information, like data from cameras or sensors in different business areas. It can then be quickly analyzed to produce insights about where operations can be optimized.

Processing data at the edge means that only the important data is sent to the central processing location, rather than constantly transmitting inputs and slowing down the whole network. It means that startups can scale without concerns about overloading the current network infrastructure or incurring huge costs to upgrade. 

Cyber security is also enhanced, since most of the data is being hosted by a local device instead of on a network, leaving it less exposed to external threats.

Data-driven business growth

The primary advantage of edge is that it generates value everywhere data exists. The rich insights gained can form the basis of a considered scale-up plan that’s based on near real-time information – especially when combined with a powerful AI tool to analyze the vast amounts of data captured.

If you run a restaurant or entertainment venue, you might use transaction data to pinpoint peak times, optimize staff working patterns and inform decisions like opening hours at subsequent locations as the business grows.

Alternatively, an industrial manufacturer could use data generated from equipment and security cameras to locate production inefficiencies and identify where quality errors and bottlenecks are the most common. This can be used to improve manufacturing quality and speed to effectively scale up production.

Edge-enabled operations

Beyond informing growth strategies with rich data insights, implementing edge computing can create new possibilities for expansion.

If your growth plan involves changing location or opening a new site, the remote data processing offered by edge technologies gives you many more options. Devices like point-of-sale systems that can operate offline will help to make customer experiences and transactions more seamless in remote or rural locations. 

Edge can also help startups to integrate advanced tech that requires reliable, high-speed connectivity to work properly, such as augmented reality (AR) and virtual reality (VR). 

Accessing this technology enables collaborative ways of working to continue even as a business scales, with people able to join virtual meeting rooms and interact with the same simulated 3D model from different locations. It also makes enhanced customer experiences possible, like tools for visualizing products in action, or more convenient and personalized browsing and purchasing.

On-site efficiency

The value of edge isn’t restricted to developing your scale-up strategy either; the whole business will benefit from making it a permanent asset.

If your business scales up to operate in multiple locations, decentralizing data gives each location ownership of decisions. Rather than using top-level data to make generalized decisions about processes across the board, individual factories, warehouses, shops or other sites can use real-time data to optimize their own operations, maximize workplace safety and respond to individual situations. 

Not only does this ensure maximum efficiency across the board, but it will go a long way towards fostering a culture de l'innovation across the business. It can empower staff to generate new ideas and reinstate some of the agility your business might lose as it transitions from startup to scale-up.

In addition, edge computing can be used to streamline processes by implementing predictive maintenance. You can use connected Internet of Things (IoT) sensors to monitor machine health, while output data from machines and cameras can identify downtime in production. This will enable you to plan repairs and maintenance to avoid disruption and ensure your business continues to operate smoothly.

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Join DWEN and connect with women founders

Technology is evolving rapidly and there are more opportunities than ever to use cutting-edge capabilities in your startup – but you don’t have to figure it all out alone.

Le réseau Dell Women's Entrepreneur Network (DWEN) is a global community of women entrepreneurs, investors and advisors. As a DWEN member, you can share stories, learn from others, and access tailored resources to help your startup reach its maximum potential.

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