Ten minutes with Rod Drury at Xerocon on analytics for SMEs
- Summary:
- Discussing some of the insights Xero is seeing from its early efforts in mining business intelligence data.
During Xerocon London, I sat down with Rod Drury CEO Xero to discuss what's happening in analytics for the small business. It's an important discussion for several reasons:
- Xero has put a lot of resource into figuring out how to extract the best value from all the data it holds on behalf of customers.
- Building useful analytics is hard work and getting it right is never easy.
- Making analytics relevant to the small business beyond the snapshot views they get on a day to day basis is far from straightforward.
In this conversation, Drury reveals some of the findings made by the company and what this means for the future. This is exciting stuff that will deliver strong value for customers and professional advisor looking to change the conversation from one of compliance to one of active assistance.
Here are the show notes:
- 00:00-02:46 - Building out a set of contemporary SIC codes, GEO codes and reporting codes as a common framework
- 00:47-03:57 - Developing standard ratios over time to establish patterns
- 03:58-06:53 - Have governments under-estimated the size of the SME economy? 25% of customers have more than one bank account.
- 06:54-08:52 - Price/risk analysis for lending holds an exciting future
- 08:51-09:50 - Alerts and advisory.