Inclusive Growth for Small Businesses Through AI and Data Technology

In emerging economies, advanced technological tools for data analysis are often out of reach for those who could benefit from them the most. While large corporations leverage sophisticated solutions to optimize their operations, millions of micro, small, and medium-sized enterprises (MSMEs)—which form the true economic backbone of these regions—are excluded from the digital revolution due to cost barriers, technical complexity, and the lack of solutions tailored to their specific needs.

This exclusion not only affects individual businesses but also perpetuates cycles of economic inequality, limiting the potential for sustainable and inclusive growth in regions where it is most needed. The lack of access to data analytics tools prevents these businesses from identifying opportunities, optimizing their operations, and accessing financial services that could drive their expansion.

Project Context

Aware of this issue, Strive Community supported our proposal through the “Mastercard Impact Fund.” Thanks to this funding, we developed digital tools and data analysis solutions to help small businesses in emerging economies increase their profitability and promote inclusive economic growth.

The project’s goal was to democratize access to analytical tools for small businesses through data-driven and AI-powered interfaces, facilitating strategic decision-making and promoting the sustainable growth of enterprises in countries such as Colombia and other emerging economies, where access to these technologies is limited.

Challenges Faced by Small Businesses in Growing

1. Scattered and Fragmented Data Across Multiple Systems

Small businesses manage information across various systems, such as POS terminals, spreadsheets, and accounting software. This fragmentation results in manual processes that require time and effort to integrate data. Having a clear and consolidated view of the business’s status becomes essential for efficient management.

2. Delays in Decision-Making

The lack of real-time data access causes businesses to miss important opportunities. As one of our tool’s users commented:

“I need integrated information within the first five days of the month, not 30 days later, only to keep making the same mistakes as last month.”

This lack of immediate information limits businesses’ ability to react quickly and seize market opportunities.

3. Resource Limitations

Small businesses often operate on tight budgets and lack specialized personnel for data analysis. As a result, data analysis becomes a secondary task rather than a key tool for decision-making. This shortage of human and financial resources hampers business growth and competitiveness.

4. Accessibility Barriers

The interfaces of technological tools are often complex and unintuitive, making them difficult for business owners and employees without technical training to use. This complexity is a significant obstacle that limits access to data and the ability of small businesses to leverage digital tools that could optimize their management and growth.

The Solution

Understanding these challenges, we developed a cloud-based data platform designed to empower small businesses. This solution is designed to overcome barriers to information access and function effectively in contexts with limited technical and financial resources.

The platform’s key feature is real-time integration of various business data sources, offering different interfaces tailored to users’ needs:

• AI Chatbot for Natural Language Queries – Allows business owners to query multiple databases using natural language and receive responses in text and visual formats.
• Automated Periodic Reports – Delivers critical business information in weekly, biweekly, or monthly formats, reducing reliance on manual data compilation.
• Dashboards with Flexible Filters – Interfaces adapted to different roles within the business, with an intelligent recommender suggesting the most relevant visualizations based on available data.
• AI-powered Visualization Tools – Process textual data to easily identify trends in customer management information or product relationships.
• Website Generator from Tables – Converts existing data into websites with customizable templates, eliminating the need for additional web development resources.

The Impact of Our Solution

Democratization of Analytical Capabilities

Our solution levels the playing field between small and large businesses, providing resource-limited enterprises with analytical tools that were previously only available to corporations with large budgets. This technological democratization enables small businesses to compete more effectively in increasingly digitalized markets.

Boosting Financial Inclusion

Improved data management and visualization enable small businesses to formally document their economic performance, creating verifiable financial histories. This increased transparency and organization facilitate access to formal financial services, including loans, insurance, and other financial tools.

Transformation in Decision-Making

By providing access to consolidated and timely information, the platform allows business owners to quickly identify trends, anticipate market changes, and respond agilely to new opportunities. This ability to make informed decisions can mean the difference between stagnation and sustainable growth.

Optimization of Limited Resources

Automating reporting and analysis processes frees up the most valuable resource for small business owners: their time. In emerging economies, where every working hour represents a significant opportunity cost, this operational efficiency allows business owners to reinvest their time in higher-value strategic activities such as innovation, customer service, and business expansion.

Do you have a financial inclusion project, run a business, or want to learn more about this type of initiative? Contact us.

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