There is no doubt that data is important when it comes to tracking, analyzing and understanding your business and all businesses need some sort of insights. Africa is not different, but in addition, you need to know a guy!
In modern business , its called insights, intelligence, or analytics, you name it! But in the end it’s the value you get or how you use the knowledge received that matters. In Africa SMEs, the most actionable, useful, and affordable insights come from knowing a guy!
Worldwide, connections, and who you know matter most and of course technology comes second when it comes to knowing more about your business, but knowing a guy in Africa is even more important as emerging markets are evolving faster than the organization of data.
“Big Data” is important, but interestingly, many small companies in Africa don’t need so much of it. On the other hand, only accessing knowledge from one’s network might not be useful in all use cases, considering that the network might not have solutions to what you are looking for! But could there be a balance!
The general approach often applied is to try and ingest every last bit of information available in one’s industry, hoping there are some diamonds to find! Countless cycles are then devoted to trying to manage and mine all the data, most of which might well be garbage. Instead , what our clients do when faced with nuances, they seek expertise, and very precise insights from a person who knows the problem well and with experience interacting with the same problem. But should this strategy be limited to large corporates only?
SMEs in Africa can also benefit from the same. At Afrorian, most of our clients are mid size to corporates and we have been wondering why SMEs do not use our services often? The first reason is that when SMEs face certain challenges, they do not have additional resources to seek expertise, which is understandable especially in the growing phase. But another key reason is that the people with SME knowledge are not easily accessible online with open profile, ready to consult!
The professional experts, and the lobbyists used by large companies on the other hand have understood the game and know how to position themselves through profiles with consulting firms, which allow them to be easily accessible on-demand when needed by corporate firms for advisory.
Technology improvements, and increased access will influence and create new ways for SMEs to get intel, or inquire about their markets at a speed, price and delivery that matches their expectations. Already , an application like WhatsApp in Africa is being used differently as opposed to other markets. This is a sign, among others, that the knowledge industry in Africa’s lower market will continue to evolve and take its own shape. But for now, You got to know a guy!
