Data Management Guide for Small Business

This guide from the International Chamber of Commerce (ICC) and the University of Vienna aims to introduce micro-, small- and medium-sized enterprises (MSMEs) to key concepts of the data economy and provide a concrete methodology and best practices to properly leverage data and play a more active role in the data economy.

Data has become an essential part of business life, driving global trade and productivity across all sectors of the economy. Ensuring that all businesses can implement good data management practices will enable greater compliance with evolving regulatory environments and empower businesses to better use and more readily share data to uncover new sources of innovation and growth. 

Why develop a data management guide for MSMEs?  

MSMEs account for the majority of businesses worldwide. They are important contributors to job creation and global economic development as they comprise an estimated 80% of employment in many countries and are the backbone of the global economy. Enterprises of all sizes, sectors and regions increasingly depend on data to conduct business and create value for their organisation, employees and local communities.  

However, not all businesses are equally equipped to seize the many new opportunities that data is helping unlock. MSMEs often require specific guidance on how to manage and leverage data to become truly data-driven organisations and seize new growth opportunities. 

How can this data management guide help MSMEs? 

Building on the ALI-ELI Principles and on expert input from members of ICC, this guide will help MSMEs better navigate their data ecosystem and leverage data flows within it by providing directions around the following questions: 

  • Why is data important to your business? 
  • How can you best manage the data you control? 
  • Where do you sit in the data economy? 
  • What should you consider when sharing data or receiving data from other businesses? 
  • What should you consider when engaging the co-generation of data?