Issue #3: October 2024 Newsletter

Pentify Insights: Shaping Success in Q3

Welcome to the third edition of the Pentify Insights newsletter

Another quarter has come and gone, and as a mid-October newsletter would indicate, we are only just coming up for air. It was a quarter highlighted by our partnership with a facilities management company where together, we are ramping-up their data capability, commencing with building automated forecasting models as they enter a period of high-growth. Another important milestone was our partnership with an innovative leasing company, turning their disparate data into an insights-generating engine with our Data-as-a-Service product. Finally, we have been keeping up-to-speed of advancements in BI tools, specifically looking at how tools like ThoughtSpot are leveraging natural language to drive better user experiences and insights. As always, be it for a quick chat or specific data-related questions, please reach out to us.

We hope you enjoy edition #3.

Q3 Musings: Why SMBs struggle to unlock data value?

And more importantly, what can be done to improve things for SMBs

For too long, developing data and analytic capability for small-to-medium businesses (approx. 20 to 200 employees) has been beyond reach. A combination of factors including financial constraints, lack of expertise, and cultural resistance have made SMBs extremely reticent when it comes to investing in data. However, things are changing, fast. The Pentify team are here to help you, and your business, harness the power of your data, regardless of the size, sector, and sales of your operation.

Historical inhibitor #1 - Financial constraint. Traditional data solutions require significant, and often upfront, investment in technology. Inevitably, for most SMBs, the conversation stops here. But it shouldn’t.

Historical inhibitor #2 – Technical Skills. Even with an investment in technology, the technical skills required to navigate data complexities often means that SMBs feel overwhelmed. But you shouldn’t.  

Historical inhibitor #3 – Cultural Resistance. Be it adopting a new process, or using a new front-end tool, the prospect of change to the day-to-day is enough to make us feel scared of data innovation. But we shouldn’t.

These factors are just some of the roadblocks between SMBs, and becoming data driven. Whilst there are other factors, the pleasing news is that there are solutions. You may not believe us when we say it, but even for the smallest businesses, an investment in data can turn challenges into opportunities.

Modern enabler #1 – Start small. There are several ways to invest in data, some beyond a financial investment. An appraisal of current tools and gaining a complete understanding of their capability, can deliver efficiencies. If a need still remains, even a basic investment in data can deliver quick wins,

Modern enabler #2 – Leverage new technologies. Yes. Technology can be complicated. But, there are many tools that make it simple. Best of all, they provide great value whilst scaling with you as you grow your business.

Modern enabler #3 – Make data fun! Granted, we are biased and think data is always fun. But to drive positive change, you need your most important asset, your people, to be onboard. Gamifying performance metrics with prizes in your monthly meeting is a simple way to drive cultural change. By taking these steps, your business can start to view data as an asset, rather than a headache. But, it starts with taking that first step. You’ll be glad you did

Q3: By the numbers

6 – The number of engagements Q3 delivered for Pentify, including the engagement of co-founder Nick Wright 🎉

7,892 – The number of LinkedIn impressions across Q3

34,153 – The Q3 average daily records updated in our Data-as-a-Service cloud-based data warehouse for our DaaS clients

Data in the news

Some things you may have missed

The City of Melbourne recently scrapped the e-scooter scheme, citing amongst other concerns, an increase in accidents and the impact they were having on public spaces. From a data perspective, when the scheme was launched in February 2020, modelling predicted approximately 10,000 trips per day. Usage data indicates that the number of daily trips was closer to 1,200 than 10,000. A slight inconvenience for avid riders, but based on this data, perhaps the right decision for all.

Google Australia (via Google Research) have teamed up with the CSIRO and four other organisations to see how AI can help preserve giant kelp forests in Tasmania. The data-driven alliance is mapping giant kelp ecosystems for the first time using AI tools such as Earth Engine and autonomous underwater vehicles to analyse giant kelp populations to understand what makes some kelp heat resistant, all with the aim of restoring the giant forests.

In brief

Thank you!

As we near our first birthday, we want to thank all our readers and partners for your continued support. Q4 promises to be bigger and better, so stay tuned, and thank you once again for your support.