Indian SMEs Face Data Dilemma Impacting Efficiency and Growth

Indian SMEs struggle with missing data, affecting operational efficiency and growth, according to a report by Looqup Data. The study highlights that 80% of organizations lack timely data for decision-making. Automation and AI solutions are recommended to streamline data processes and enhance productivity.

BOSTON, USA / MUMBAI, INDIA, June 29 – Indian organizations, particularly Small and Medium Enterprises (SMEs), are grappling with significant data challenges, despite efforts to improve operational efficiency and growth, says a report published by Looqup Data.

The report, titled 'The Missing Data Conundrum in Indian Enterprises,' analyzes the data and workflow needs of Indian organizations across sectors such as healthcare, logistics, retail, and manufacturing. It finds that about 80% of studied organizations lack timely access to crucial data for decision-making, hindering their growth.

The study examined data needs in 150 small and medium organizations from various sectors in India, discovering that 70% struggle to generate and interpret data swiftly, disrupting workflows and reducing productivity. Logistics and retail industries are most affected by data issues, facing challenges in prioritizing data management.

Mr Arun Ghosh, Co-founder of Looqup Data, emphasized the urgent need to address this issue, highlighting that missing data creates workflow hazards and impacts efficiency. Automation and AI-led solutions are recommended to handle data processing and analysis effectively.

Co-founder Mr Gulbirr Bhatia urged Indian businesses to transition to a data-driven approach, automating processes and using the right technologies to acquire, store, analyze, and present data. Chief Technology Officer Mr Shekhar Atmakur added that Indian businesses should embrace streamlined data management to lead in the digital economy and support the 'Atmanirbhar Bharat' mission.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)