Businesses breaking away from brick and mortar modules

The new decade is seeing a significant shift in the way businesses on the continent operate, moving away from traditional brick and mortar models towards more data-driven concepts. This transition marks a critical turning point for businesses seeking to maximize profits and remain competitive in an increasingly digital world. To delve deeper into this transformative trend, CNBC Africa sat down with Paul Rukundo, the CEO of Smart Business Intelligence. Rukundo emphasizes the importance of embracing data-driven models, highlighting the significant advantages they offer in terms of decision-making, customer acquisition, and overall business growth. According to Rukundo, data-driven strategies involve leveraging insights from data to identify new opportunities, enhance customer service, drive sales, and streamline operations. By utilizing empirical evidence and data analytics, organizations can make informed decisions that lead to positive outcomes. Studies have shown that data-driven businesses are significantly more likely to acquire and retain customers, underscoring the importance of data in driving business success. Rukundo also addresses concerns about the potential loss of human touch in data-driven approaches, asserting that data actually enhances the human element by providing valuable insights into customer behavior and preferences. Rather than detracting from personal interactions, data analytics can empower businesses to better serve their customers and improve their overall operations. When it comes to data collection in Africa, particularly in regions with high smartphone usage, Rukundo remains optimistic about the potential for inclusivity. With a growing number of people accessing mobile phones and the internet, the continent is witnessing a rapid integration of digital technologies into everyday life. Rukundo argues that businesses shouldn't focus solely on the volume of data but on the strategic use of that data to benefit all segments of the population. He believes that companies can leverage data-driven models to tailor solutions and services to marginalized communities, ultimately fostering economic growth and development. The rise of data-driven business models in Africa signifies a transformative shift towards more efficient, customer-centric, and forward-thinking approaches to business operations. As businesses continue to embrace data analytics and technology, the potential for growth and innovation in the African market is vast.