1、Data Unleashed:Empowering Small and Medium Enterprises(SMEs)for Innovation and Success B R I E F I N G P A P E RJ U N E 2 0 2 3Images:Getty Images,Unsplash 2023 World Economic Forum.All rights reserved.No part of this publication may be reproduced or transmitted in any form or by any means,including

2、 photocopying and recording,or by any information storage and retrieval system.Disclaimer This document is published by the World Economic Forum as a contribution to a project,insight area or interaction.The findings,interpretations and conclusions expressed herein are a result of a collaborative pr

3、ocess facilitated and endorsed by the World Economic Forum but whose results do not necessarily represent the views of the World Economic Forum,nor the entirety of its Members,Partners or other stakeholders.ContentsIntroduction1 Key findings:challenges faced by SMEs 1.1 Lack of data policies and cla

4、rity on specific roles and responsibilities1.2 Obstacles to extracting value from the data1.3 Limited information technology(IT)infrastructure1.4 Barriers to accessing global markets1.5 Insufficient monitoring and reporting of sustainability data2 Recommendations for SMEs2.1 Taking stock of availabl

5、e IT infrastructure and prioritizing data needs2.2 Advancing proactive data governance2.3 Providing company-wide technical and data capacity-building 2.4 Building resilient IT infrastructure to facilitate scaling and going global2.5 Promoting environmental responsibility and resource efficiency3 Cal

6、l to action ConclusionContributorsEndnotes344 6781012121313141415161719Data Unleashed:Empowering Small and Medium Enterprises(SMEs)for Innovation and Success 2IntroductionSmall and medium-sized enterprises(SMEs)are the foundation of the global economy,representing 90%of all businesses and accounting

7、 for nearly 70%of global jobs and GDP.1 These businesses power the supply and distribution chains of key industries.2 SMEs also play a central role in society,helping to strengthen economic inclusion,supplying goods and services to poor and underserved markets and providing employment to many women

8、entrepreneurs.3 These companies are also key drivers of innovation,offering fresh ideas and new products,being able to adopt change more quickly than large companies and having high growth potential.4However,many of these companies are struggling to embrace the Fourth Industrial Revolution and face

9、associated challenges,such as a scarcity of skilled employees or lack of access to capital.5 These limitations hamper SMEs capacity to effectively manage and unlock the true value of their data resources and make well-informed and data-driven strategic decisions,which can significantly affect their

10、opportunities for survival,prosperity and resilience in an ever-evolving business environment.Recognizing the vital role of SMEs for the economy and job creation,as well as the data to drive the growth and expansion of these businesses,6 the World Economic Forums Centre for the Fourth Industrial Rev

11、olution conducted a survey from February-May 2023 to explore the key challenges and opportunities that SMEs face regarding data readiness(see Box 1).Based on the survey results and complementary analysis of secondary resources,the present publication provides recommendations to support SMEs to effec

12、tively use and manage data to achieve their business goals,advance their digital transformation,innovate,expand into new markets and strengthen their green growth and resilience for the future.7The purpose of this publication is to highlight that data management needs are present within SMEs,irrespe

13、ctive of their size,location or sector.It aims to offer tangible recommendations that inspire and motivate these companies to advance in their journey towards becoming data-ready.It does not intend to generalize challenges faced by all SMEs or offer an all-encompassing list of recommendations.Every

14、SME is unique,and recognizing and addressing its specific data needs is not only important but an indispensable strategic move to succeed in using data effectively,drive its operational efficiency and unlock untapped growth potential.SMEs are therefore encouraged to carefully review and adapt the re

15、commendations in this paper,tailoring them to their individual business priorities and resources.Data Unleashed:Empowering Small and Medium Enterprises(SMEs)for Innovation and Success June 2023Research methodologyBOX 1This publication defines“data readiness”as a companys state of preparedness to col

16、lect,process and analyse data to create organizationally valued outcomes.8“SMEs”are defined as companies with fewer than 250 employees.9This paper provides recommendations,based primarily on the analysis of survey responses collected between February and May 2023.A total of 111 individual responses

17、were received from SMEs from 42 countries and 21 sectors.10 The survey was developed using Qualtrics,and included Likert-scale,multiple choice and open-ended questions.The survey was distributed online through World Economic Forum channels and social media.The results presented in this work were obt

18、ained through a descriptive statistical analysis of the responses collected.The main topics covered in the survey are data management and use,data protection and privacy,cybersecurity,information technology,cross-border data flows,and sustainability monitoring and reporting.The review of secondary s

19、ources helped design and select the questionnairetopics,as well as contextualize the analysis of the survey responses.The secondary sources used to develop this publication are cited throughout the text.Data Unleashed:Empowering Small and Medium Enterprises(SMEs)for Innovation and Success 3Key findi

20、ngs:challenges faced by SMEs 1Through extensive analysis of the survey results,five significant challenges have been identified.The identified challenges will be discussed in detail in the following sections.Please note that these challenges are listed in no particular hierarchical order.Regardless

21、of size or industry,every interaction,transaction and customer engagement of an SME generates valuable data points;for example,inventory records or sales figures,to name a couple.As SMEs accumulate this information,it becomes crucial for them to address privacy and security concerns,aligning their s

22、trategies with their unique priorities and resources.In this regard,64%of survey respondents claim to have a data privacy policy and 50%have a cybersecurity policy(see Figure 1).The lack of awareness and implementation of essential policies may pose significant risks,as it hinders data security and

23、protection from unethical use.11 This was reinforced by 74%and 58%of respondents,respectively(see Figure 2).1.1 Lack of data policies and clarity on specific roles and responsibilitiesExistence of privacy and cybersecurity policiesFIGURE 1Does your company have a data privacy policy in place?Does yo

24、ur company have a cybersecurity policy in place?YesNoNot sureYesNoNot sure49%44%7%64%31%5%Many obstacles and constraints hinder SMEs ability to fully realize their potential and drive robust growth.Data Unleashed:Empowering Small and Medium Enterprises(SMEs)for Innovation and Success 4Challenges aro

25、und data protection,security and ethical use of dataExistence of personnel designated to perform data-related functionsFIGURE 2FIGURE 3How challenging is data protection and security for your company?How challenging is it for your company to protect data from unethical or irresponsible use?58%31%11%

26、20%74%6%ChallengingNot at all challengingNeutralChallengingNot at all challengingNeutralYesNoNot sureDoes your company have a chief information security officer,or equivalent?31%60%9%Does your company have a chief data officer,or equivalent?31%61%8%Does your company have a chief privacy officer,or e

27、quivalent?30%63%7%Furthermore,many SMEs have not appointed specific roles to design and implement data management strategies.Of the respondents,63%reported not having a chief privacy officer(CPO).Similarly,60%reported absence of the chief data officer(CDO)role and 60%of a chief information security

28、officer(CISO)(see Figure 3).The lack of dedicated personnel for data management could be due to budget constraints,12 lack of trained professionals in these fields,13 or these functions may already fall under other roles(as SMEs employees tend to fulfil multiple roles).14 While the technological inf

29、rastructure is necessary for SMEs data readiness,it is important to note that technological solutions should be led by comprehensive data management strategies,and expert staff should be designated to coordinate their implementation and ensure compliance with current regulations.15 In fact,some regu

30、lations may require the creation of this role.16 SMEs need to be aware of the importance of having designated personnel and training staff in data management,for responsible data use,to minimize vulnerability to cyberattacks and to decrease unauthorized use or sharing of sensitive information,as the

31、se ultimately impact the reputation of the company and the experience and trust of consumers.17 Data Unleashed:Empowering Small and Medium Enterprises(SMEs)for Innovation and Success 51.2 Obstacles to extracting value from the dataThe true value of data lies in its use and the information that can b

32、e obtained from it,for example,to better understand customers and design marketing strategies.The advent of big data and other emerging technological developments(e.g.internet of things(IoT),artificial intelligence(AI),cloud computing,blockchain)create opportunities for businesses to innovate,compet

33、e and increase their productivity.18 However,based on our survey,64%of SMEs find it challenging to effectively use the data from their systems and 74%struggle to maximize the value of their companys data investments(see Figure 4).SMEs need to use data more efficiently and effectively,as the current

34、challenges(such as the lack of a clear data strategy,coordinated IT systems,staff designed to oversee data operations and data literacy among employees)can lead to inadequate data use.19 Also,the prevalence of silos(i.e.the data remains scattered across multiple systems and departments within the co

35、mpany)not only hampers the timely retrieval and accessibility of pertinent data but also obstructs a holistic and interconnected understanding of the data insights.20Limitations in utilizing and maximizing the value of data systemsFIGURE 4How challenging is using data from your systems for your comp

36、any business?74%3%23%64%13%23%How challenging is it for your company to maximize the value of your data systems investments?ChallengingNot at all challengingNeutralChallengingNot at all challengingNeutralData Unleashed:Empowering Small and Medium Enterprises(SMEs)for Innovation and Success 6Limitati

37、ons in utilizing and maximizing the value of data systemsWhere do SMEs source their IT support?FIGURE 5FIGURE 6How challenging is finding data within your systems for your company?How challenging is maintaining data systems for your company?ChallengingNot at all challengingNeutralChallengingNot at a

38、ll challengingNeutral54%9%37%28%55%17%Does your company have in-house or outsourced business IT support to assist with technology needs,including data management and analysis?In-house IT supportOutsourced IT supportBoth in-house and outsourced IT supportNot sure31%14%53%2%1.3 Limited information tec

39、hnology(IT)infrastructureIn todays business landscape,IT capabilities,including efficient data management and analytics,have become indispensable for supporting operations and achieving business objectives across all companies.However,the survey findings revealed that SMEs often face challenges in i

40、ntegrating and streamlining their IT systems:55%reported difficulties in locating data,and 54%struggled to maintain data within their companys systems(see Figure 5).Several factors contribute to these challenges,including inadequate or fragmented data systems,limited IT infrastructure and a lack of

41、data literacy within SMEs.SMEs may rely on a combination of in-house and outsourced IT solutions.For example,53%of surveyed SMEs rely on both internal and external IT support,while 43%store their data in both the on-premises data centre and in the cloud(see Figures 6 and 7).While this combination of

42、fers some flexibility in terms of cost,security and accessibility,without proper IT strategies and systems in place,SMEs may encounter issues such as security vulnerabilities,lack of interoperability and limitations to scale the business,which can affect their expansion into international markets an

43、d hinder effective vendor management.Prioritizing the development of robust IT capabilities is essential to address these challenges.Data Unleashed:Empowering Small and Medium Enterprises(SMEs)for Innovation and Success 7Where do SMEs source their data storage?FIGURE 7How does your company store dat

44、a?Cloud storageBoth on-premise data centre and cloud storageNot sure33%43%15%9%On-premise data centre1.4 Barriers to accessing global marketsFor SMEs aiming to expand their operations into international markets or those already operating on a global scale,it is important not only to establish a robu

45、st and dependable IT infrastructure but also to comply with diverse trade and data exchange regulations,to ensure responsible and secure cross-border data flows as part of the global digital economy.21 Of the companies surveyed,36%operate in more than one regulatory jurisdiction(see Figure 8).Among

46、those operating in more than one jurisdiction,conflicting,complex and unclear regulations,the frequent regulatory changes,and the added cost of keeping up with them were highlighted as some of the more prevalent barriers they have experienced while engaging in cross-border data flows(see Table 1).36

47、%51%13%Does your company operate in more than one regulatory jurisdiction?NoYesNot sureSMEs operating in more than one regulatory jurisdictionFIGURE 8Data Unleashed:Empowering Small and Medium Enterprises(SMEs)for Innovation and Success 8Ranking of the main challenges related to cross-border data fl

48、ows experienced by SMEs operating in more than one jurisdictionWhat are the major challenges your company faces with regards to cross-border data flows?TABLE 1Note:The table above contains the responses to the question ordered from highest to lowest prevalence.SMEs have immense untapped potential to

49、 position themselves as strategic players in the dynamic landscape of the digital age.In line with previously discussed challenges related to IT infrastructure and data storage,SMEs should understand how to securely store their data not only within their local jurisdiction but also in any geographic

50、al location they operate.By adopting a comprehensive approach that encompasses a robust IT infrastructure,a deep understanding of cross-border regulations and proactive measures to safeguard data integrity,privacy and prevent cyber risks,SMEs can unlock opportunities for expansion into international

51、 markets.RankingChallenges1Complexity in legal requirements due to multiple layers of regulations leading to lack of transparency2Ambiguity in definitions such as“consent”,“personal data”and others3Conflicting regulations4Uncertainty in legal requirements due to frequent changes and additional resea

52、rch costs for companies5Technical barriers such as data security and privacy6Regulators limited understanding of the practical aspects of cross-border data flows7High costs involved in obtaining certifications for data handling8Other challengesData Unleashed:Empowering Small and Medium Enterprises(S

53、MEs)for Innovation and Success 91.5 Insufficient monitoring and reporting of sustainability dataWhile SMEs individually have a relatively small environmental and carbon footprint,their combined contribution to greenhouse gas emissions is significant,accounting for at least 50%of the emissions from t

54、he business sector.22 SMEs play a major role in helping large companies implement and meet sustainability objectives throughout the value chain.To achieve this,these companies are required to strike a balance between increasing performance and meeting quality standards while reducing their impact on

55、 the environment.23 This underscores the increasing importance for SMEs to embrace sustainability initiatives to combat the global climate crisis,optimize their operational efficiency and enhance their overall reputation.24However,the success of these initiatives hinges on the availability of high-q

56、uality data.When it comes to sustainability reporting systems,there are frameworks such as carbon disclosure.25 Only 21%of respondents are aware of the benefits of carbon disclosure and actively track and report energy consumption and carbon emissions.Additionally,only 25%of surveyed SMEs have some

57、familiarity with this framework,but they are unsure of its business benefits(see Figure 9).The survey revealed that time,budget and other resources constraints(20%),as well as limited access to data from suppliers and customers(20%),among other factors,hinder the implementation of carbon disclosure

58、reporting(see Figure 10).Technical training on carbon reporting(27%)and standardized guidelines or simplified frameworks for carbon reporting(20%)are conditions identified by surveyed SMEs that could improve their carbon disclosure practices(see Figure 11).Considering the broader challenges surround

59、ing data maintenance,access and use,companies should ensure that current sustainability indicators reporting meets global or industry-wide standards.Thus,by adopting transparent and rigorous sustainability reporting practices,SMEs cannot only help mitigate the climate crisis,but also unlock new busi

60、ness opportunities,strengthen their market position and meet changing stakeholder expectations.Awareness of carbon disclosureFIGURE 90%5%10%15%25%20%We are somewhat familiar with the concept of carbon disclosure,but we are not sure if it is relevant to our business or if there are any benefits to im

61、plementing it25%Yes,we are aware of the concept of carbon disclosure,and we understand the benefits it can provide to our company.We have already started tracking and reporting our carbon emissions and energy consumption data21%Yes,we have heard of carbon disclosure,but we are unfamiliar with the co

62、ncept and its benefits for our company19%14%No,we have not heard of carbon disclosure and its potential benefits for our company10%We are aware of carbon disclosure,but we believe that the costs and resources required to implement it outweigh the potential benefits for our company8%We have not consi

63、dered carbon disclosure in the past,but we are willing to learn more about it and its potential benefits for our company3%We are aware of carbon disclosure,but we are not interested in tracking or reporting our carbon emissions and energy consumption data for our companyAre you aware of the concept

64、of carbon disclosure(tracking,measuring and reporting of greenhouse gas emissions and energy consumption)and the benefits for your company?Data Unleashed:Empowering Small and Medium Enterprises(SMEs)for Innovation and Success 10Difficulties SMEs have encountered in collecting and reporting carbon di

65、sclosureFIGURE 1015%20%5%10%0%Lack of resources(e.g.time,budget,etc.)20%Limited access to data from suppliers and customers20%Other challenges20%13%Lack of expertise on how to collect,track and report this information13%Complexity of carbon emission standards7%Lack of knowledge on how to measure emi

66、ssions from the companys operations7%Lack of harmonized data structures across the value chainWhat difficulties have you encountered in collecting and reporting your carbon disclosure?Conditions or types of support that could help SMEs improve their carbon disclosure practicesFIGURE 115%10%15%30%25%

67、20%0%Technical training on carbon reporting27%Standardized guidelines or simplified frameworks for carbon reporting20%Public or private funding to support carbon disclosure efforts13%13%Other support13%User-friendly tools for measuring emissions7%Government incentives and recognition for companies t

68、hat track and report emissions and demonstrate climate leadership7%Collaboration and support from industry associationsWhat conditions or types of support could help your company improve carbon disclosure practices?Data Unleashed:Empowering Small and Medium Enterprises(SMEs)for Innovation and Succes

69、s 11Recommendations for SMEs2When implementing the recommendations provided below,it is important to recognize the unique advantages that SMEs possess compared to large multinationals.These companies are more agile in adopting new practices,embracing innovation and making sustainable decisions.26 Ad

70、ditionally,SME employees tend to exhibit greater loyalty and cohesive teamwork.They also tend to be more empowered within the company as they are closely involved in management decision-making.27 Making use of these qualities,SMEs can effectively advance their data preparedness.To achieve data readi

71、ness,SMEs should understand the purpose of using data,create a data management plan and identify potential business benefits.Prioritizing data needs(see Figure 12)involves assessing available data,determining its relevance and quality and storing it in digital formats for accessibility,interoperabil

72、ity and analysis.Integrating existing systems and data sources into business operations and governance while ensuring security and regulatory compliance is also crucial.When choosing IT solutions,SMEs should consider current and future needs,cost implications and long-term value for maximum return o

73、n investment.282.1 Taking stock of available IT infrastructure and prioritizing data needsThe unique qualities of SMEs offer them diverse opportunities to unlock their data potential and accelerate their growth.Example of a framework for defining data prioritiesFIGURE 12Assessment and comprehensionP

74、erform data evaluation,modelling,storage and analysis to integrate systems,create value from this information and optimize operations.GovernanceEstablish data governance,roles and responsibilities to ensure compliance with data security,privacy and risk management regulations.Knowledge,skills and ex

75、pertiseEnable organizational transformation through employee capacity building.Multistakeholder collaborationPromote collaboration with the public and private sectors,NGOs and academia in data management and knowledge sharing to improve data capabilities.Review,adjust and evolveRegularly assess empl

76、oyee data strategies and employees competencies to adapt them to current business needs,regulations,stakeholders and digital trends.IT infrastructureSelect a digital technology provider that respects data governance protocols to ensure cyber resilience.Leadership and resource allocation Senior leade

77、rships commitment and strategic vision drive the allocation of resources to develop data capabilities for the organizations benefit.Note:The figure consolidates and summarizes the recommendations provided in the paper for SMEs,the roles of different stakeholders and guidance provided in the academic

78、 seminal literature on data management and frameworks such as ISO/IEC 27001.29 They can be applied in any order,as needed.The recommendations should provide a good starting point for SMEs to embark on their data journey and create value from data.Data Unleashed:Empowering Small and Medium Enterprise

79、s(SMEs)for Innovation and Success 12To navigate the growing risks of data privacy and regulatory complexities,SMEs should adopt a proactive approach.Developing data management,privacy and cybersecurity strategies and appointing dedicated and qualified professionals such as chief data officers will h

80、elp to align long-term strategies with short-term business and operational needs,focusing on data governance to ensure compliance with regulations through ethical,private and secure data use.SMEs may have budgetary constraints in creating and filling senior roles.So,even starting small and having ju

81、st one appointed person on a full-time,part-time or consultancy basis,who is clear on the roles and responsibilities of a chief data officer and can advise the business accordingly,can have a significant impact on data readiness.In addition to establishing an adequate technology infrastructure,SMEs

82、should encourage a data-driven culture among their employees and provide training on data-related issues,such as data analytics and visualization.This can enable staffto extract maximum value and insights from information.Capacity building on topics such as cybersecurity,privacy,data processing risk

83、s and limitations,and the roles and competencies of agents and teams should also be provided.In addition,it is imperative that SMEs wishing to introduce AI-based solutions into their operations acquire the necessary skills to do so effectively and responsibly.This will help to ensure responsible han

84、dling of the information to reduce the likelihood of human-related errors30 and to develop risk mitigation and timely response strategies.This type of training can be facilitated by public institutions,NGOs,academic institutions or peer-to-peer networks.312.2 Advancing proactive data governance2.3 P

85、roviding company-wide technical and data capacity-buildingData Unleashed:Empowering Small and Medium Enterprises(SMEs)for Innovation and Success 13Choosing the right IT infrastructure presents both SMEs and global enterprises with common dilemmas:IT decisions should be based onperiodic assessments t

86、o align business needs,i.e.IT infrastructure as a means rather than an end.For SMEs outsourcing IT support,it is crucial to establish clear data security protocols(ensuring data integrity,confidentiality,availability,authenticity and non-repudiation),clear responsibilities,privacy-preserving mechani

87、sms for regulatory compliance and budget for future IT needs and upgrades.Selecting technology providers with robust data protection systems,such as firewalls,intrusion detection applications,and data backup and recovery systems,is also important to ensure that SMEs remain cyber resilient in complex

88、 regulatory environments.For those companies wishing to expand and scale their operations abroad,having a robust and resilient IT infrastructure,as described previously,can offer many possibilities.Some of these are secure and responsible cross-border data flows,regardless of the physical location o

89、f the participants,more agility to scale operations and a more complete view of customer preferences and global market and industry trends to identify new business opportunities and promote industry-wide collaboration.In response to climate change concerns and growing green preferences among busines

90、s stakeholders,SMEs should incorporate emission tracking and reporting into their operations.32 Using data from processes like energy consumption can enable SMEs to monitor carbon emissions,benchmark environmental performance,improve resource efficiency and achieve cost savings while promoting susta

91、inability.The implementation of carbon disclosure or similar tracking and reporting mechanisms can support corporate social responsibility(CSR)strategies,demonstrate accountability,enable real-time data sharing for supply chain optimization,enhance business reputation and build stakeholder trust.2.4

92、 Building resilient IT infrastructure to facilitate scaling and going global2.5 Promoting environmental responsibility and resource efficiencyData Unleashed:Empowering Small and Medium Enterprises(SMEs)for Innovation and Success 14Call to action 3Proactive and forward-thinking leadership can drive S

93、MEs to tap into data and have their business thrive in the digital world.Data has the power to transform SMEs,but they will need leadership,vision,skills and infrastructure to plan and act effectively and responsibly.We encourage these companies to take as their guide the following four principles,w

94、hich frame the various recommendations suggested in this publication.Develop a data-driven cultureTo use data efficiently and responsibly,SMEs need clear,long-term data management strategies,which should be periodically reviewed,and experts/dedicated personnel to implement these strategies to ensure

95、 compliance with regulations.These strategies should guide the adoption of IT solutions rather than the other way around.Join the global data revolutionThe data revolution is here to stay,and for SMEs,it is crucial to embrace and thrive in this rapidly evolving digital landscape.Instead of pondering

96、“if”,the focus should shift to“when”and“how”SMEs can effectively harness data through digital innovation for sustainable growth.Irrespective of their size or industry,SMEs should adopt a proactive and forward-thinking strategy to use technology and data strategically,aligning their business objectiv

97、es with global market demands and thus future-proofing resilient business operations.Regardless ofits magnitude,what truly matters is forging ahead on the path to data readiness,be it through a mighty stride or a humble step.Take advantage of SMEs agility for transformation and innovationUnlike larg

98、e companies,SMEs are not subject to complex organizational structures and hierarchical decision-making processes.This flexibility enables them to respond quickly to market trends,customer demands and technological advances,which encourages innovation and the exploration of emerging opportunities.Eng

99、age in multistakeholder collaborationSMEs can build collaborative networks with other sectors to access skills and new technologies,share best practices,navigate the regulatory environment for data management both domestically and internationally,and ensure their data policies are compliant with ind

100、ustry standards.Cross-sector collaboration is essential,as SMEs play a critical role as partners and intermediaries within any supply chain.There are numerous opportunities for beneficial exchanges for these actors to drive mutual growth and collaboration and enable them to forge a path to success i

101、n an ever-evolving business ecosystem(see Table 2).Some key actions for stakeholders to help SMEs overcome their challenges and thrive in their data readiness journey TABLE 2Other private sector actors(big companies,entrepreneurs)Share best practices and knowledge on quality management and data gove

102、rnance.Share access to new technologies,tools,knowledge and training,e.g.through digital platforms.IT service providers can offer tailored solutions for SMEs.Public sector(governments and regulators)33 Simplify regulatory frameworks and provide incentives(fiscal,grants,subsidies)to promote responsib

103、le and ethical data management and encourage sustainable practices.Establish agreements,platforms and standards to promote open data,data sharing and interoperability.Develop programmes to promote awareness and literacy in data regulation,in collaboration with NGOs and academia.International organiz

104、ations and civil society organizations34 Promote data practices that comply with current regulations and safeguard privacy,inclusion and responsible use of data.Provide open-source data tools and training resources for efficient and responsible data management at a low cost.Industry organizations ca

105、n provide guidance for understanding and complying with data regulations.Academia(universities and institutions)Review existing data literacy curricula and training programmes for professionals based on business needs.Develop collaborative research projects to identify internationally recognized fra

106、meworks,standards and guidance to accelerate the data-driven digital transformation of SMEs.Develop incubators and entrepreneurship centres that offer mentoring,networking opportunities,access to financing and shared offices,etc.Data Unleashed:Empowering Small and Medium Enterprises(SMEs)for Innovat

107、ion and Success 15ConclusionData holds tremendous potential to revolutionize SMEs,but its effective and responsible use requires forward-thinking leadership,proactive strategy,data-centric culture and robust IT infrastructure.With these goals in mind,this report aims to create significant impact by

108、raising awareness of the utmost importance of data readiness in driving growth and prosperity for SMEs of all sizes,sectors and nationalities.It also sheds light on the critical barriers that hinder strategic data use while presenting practical steps for SMEs to overcome these challenges.By catalysi

109、ng the evolution of SMEs towards data-centric entities,it can lead to improved business processes,agile management,increased productivity and resilience,and generate remarkable opportunities for sustainable business growth,access to global markets,job creation and supply chain optimization.The data-

110、driven transformation of SMEs can set an inspiring precedent for other businesses and generate positive change that ripples throughout the global economy.By embracing data-centricity,SMEs can also make a substantial contribution to the dual transition of both a more sustainable world and a more digi

111、tized future.Moving forward,this work is intended to develop a community of diverse stakeholders and continue championing SMEs data readiness to promote global economic growth.Through collaboration and deeper analysis,the goal is to strengthen the understanding of datas transformative potential and

112、empower SMEs on their journey towards becoming data-driven enterprises.Data Unleashed:Empowering Small and Medium Enterprises(SMEs)for Innovation and Success 16ContributorsAcknowledgementsThis initiative is a multi-industry,multistakeholder endeavour.This paper is a combined effort based on numerous

113、 discussions between all stakeholders involved.However,the opinions expressed herein may not necessarily correspond with those of each individual involved with the project listed below.Lead authors Mohammed AlEidanLead,Data Management,Saudi Aramco;Fellow,World Economic ForumKarla Yee AmezagaLead,Dat

114、a Policy,World Economic ForumCo-authorsKimmy BettingerLead,Expert and Knowledge Communities,World Economic ForumRashimah Binte RajahLecturer,National University of Singapore Business SchoolSoumyadeb ChowdhuryHead,The Center of Excellence in CSR and Sustainable Development,TBS EducationNino Letteriel

115、loPresident,Italian Data Management AssociationSupheakmungkol SarinHead,Data and Artificial Intelligence Ecosystems,World Economic ForumOlivier WoeffrayPractice Lead,Strategic Intelligence,World Economic ForumThe authors would like to thank all SME respondents who participated in our online survey.T

116、hey would also like to thank the people who provided comments to this publication(listed below).Tun AcarkanDirector,Technology Management,Centre for the Fourth Industrial Revolution TurkeyBasmah AlbuhairanManaging Director,Centre for the Fourth Industrial Revolution KSAIbrahim AlshunaifiSearch Assoc

117、iate Professor,Advanced Manufacturing Technologies Institute,King Abdulaziz City for Science and Technology(KACST)Mara BalestriniDigital Transformation Lead Specialist,IDB LAB,Inter-American Development Bank(IDB)Sebastian BuckupHead,Network and Partnerships,Centre for the Fourth Industrial Revolutio

118、n;Member of the Executive Committee,World Economic ForumCarmen Cecilia Castro BlandonSenior Specialist,IDB Lab,Inter-American Development Bank(IDB)Tenzin ChomphelProject Coordinator,Data Policy,World Economic ForumJulia Devos Head,New Champions Community,World Economic ForumEduardo Gomez RestrepoLea

119、d,Data Policy,Centre for the Fourth Industrial Revolution Colombia Rebecca KingEngagement Lead,Centre for the Fourth Industrial Revolution Network and Partnerships,World Economic ForumCathy LiHead,AI,Data and Metaverse;Centre for the Fourth Industrial Revolution;Member of the Executive Committee,Wor

120、ld Economic ForumJeff MerrittHead,Centre for Urban Transformation;Member of the Executive Committee,World Economic ForumTomoaki NakanishiExecutive Director,Japan External Trade Organization(JETRO),San Francisco,USA;Fellow,World Economic ForumData Unleashed:Empowering Small and Medium Enterprises(SME

121、s)for Innovation and Success 17Loren NewmanEngagement Lead,Centre for the Fourth Industrial Revolution Network and Partnerships,World Economic ForumAnna Pierobon Specialist,Impact Monitoring and Evaluation,Impact Management,World Economic ForumSaiful SalihudinCurator,Centre for Urban Transformation,

122、World Economic ForumAllan SantosHead,Data Policy,Centre for the Fourth Industrial Revolution BrazilStephanie TeeuwenEarly Careers Programme,Data Policy,World Economic ForumMishary ThaniLead,Urban Transformation,Saudi Aramco;Fellow,World Economic Forum Priya Vithani Lead,Data Policy,World Economic Fo

123、rumKyle WintersInitiatives and Community Specialist,Advanced Manufacturing and Value Chains,World Economic ForumYan XiaoProject Lead,Digital Trade,World Economic ForumQuan ZhaoTrade Policy Adviser,Division for Market Development,International Trade CentreLaurence DenmarkCreative DirectorSophie Ebbag

124、eDesignerMartha HowlettEditorOliver TurnerDesignerProductionStudio MikoData Unleashed:Empowering Small and Medium Enterprises(SMEs)for Innovation and Success 18Endnotes1.“The Power of Small:Unlocking The Potential of SMEs”,International Labour Organization(ILO),2019,https:/www.ilo.org/infostories/en

125、-GB/Stories/Employment/SMEs#power-of-small.2.Mills,Karen G.,Elisabeth B.Reynolds and Morgane Herculano,“Small Businesses Play a Big Role in Supply-ChainResilience”,Harvard Business Review,2022,https:/hbr.org/2022/12/small-businesses-play-a-big-role-in-supply-chain-resilience.3.“SME and Value Chain S

126、olutions”,International Finance Corporation(IFC),https:/www.ifc.org/wps/wcm/connect/corp_ext_content/ifc_external_corporate_site/solutions/products+and+services/advisory/farmer+and+sme+training.4.European Investment Bank Group,Small and medium enterprises Overview,2022,https:/www.eib.org/attachments

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130、ttps:/ voluntarily chose to participate in the survey.Responses were received from the following 42 countries:Afghanistan,Australia,Austria,Cambodia,Canada,China,Colombia,Eswatini,France,The Gambia,Germany,Ghana,India,Indonesia,Ireland,Italy,Jordan,Kazakhstan,Kenya,Mexico,Namibia,Netherlands,Nigeria

131、,Pakistan,Philippines,Republic of Korea,Rwanda,San Marino,Saudi Arabia,South Africa,Spain,Sri Lanka,Switzerland,Tanzania,Thailand,Trinidad and Tobago,Turkey,Uganda,United Arab Emirates,United Kingdom,United States,Zimbabwe.The survey asked for“industry”,offered the following industry options and all

132、owed for multiple choice:Agriculture;Automotive;Digital/Information Technology;Education/Academia;Electronics;Entertainment and Publishing;Environment;Financial Services;Government;Healthcare;Manufacturing;Media;Non-profit;Other;Professional Services;Retail;Social Enterprise;Telecommunication;Travel

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135、g/industry/oecd-sme-and-entrepreneurship-outlook-2019-34907e9c-en.htm.14.Heidt,Margareta,Jin P.Gerlach and Peter Buxmann,“Investigating the Security Divide between SME and Large Companies:How SME Characteristics Influence Organizational IT Security Investments”,Information Systems Frontiers,vol.21,2

136、019,https:/ Data Protection Regulation(GDPR),Art.37:Designation of the data protection officer,2018,https:/gdpr-info.eu/art-37-gdpr/.17.“A privacy reset from compliance to trust-building”,PwC,n.d.,https:/ Analytics in SMEs.Trends and Policies,2019,https:/www.oecd-ilibrary.org/docserver/1de6c6a7-en.p

137、df?expires=1685724749&id=id&accname=guest&checksum=8FB31CC05DF8530DD754D6CB44AF1A31.19.Ibid.20.“Breaking Down Data Silos Takes A Cultural Shift”,Forbes,2021,https:/ Economic Forum,From Fragmentation to Coordination:The Case for an Institutional Mechanism for Cross-Border Data Flows,2023,https:/www.w

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141、aleemullah Abbasi,“SMEs respond to climate change:Evidence from developing countries”,Technological Forecasting and Social Change,vol.185,2022,https:/ disclosure can be defined as the annual reports on greenhouse gas emissions derived from the companys activities;Bazhair,Ayman Hassan,Saleh F.A.Khati

142、b,and Hamzeh Al Amosh,“Taking Stock of Carbon Disclosure Research While Looking to the Future:A Systematic Literature Review”,Sustainability 14,2022,https:/ Cristian,Mihai Alexandru Botezatu,Alexandra Hosszu and Liliana Nicoleta Simionescu,“Small and Medium-Sized Enterprises(SMEs):The Engine of Econ

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144、ert,“Small,local,and loyal:How firm attributes affect workers organizational commitment”,Local economy,vol.29,no.8,2014,pp.795-809,https:/ideas.repec.org/a/sae/loceco/v29y2014i8p795-809.html.28.Dey,Prasanta Kumar,Soumyadeb Chowdhury,Amelie Abadie,Emilia Vann Yaroson and Sobhan Sarkar,“Artificial int

145、elligence-driven supply chain resilience in Vietnamese manufacturing small-and medium-sized enterprises”,International Journal of Production Research,2023,pp.1-40,https:/ Organization for Standardization(ISO),ISO/IEC 27001,Information security management systems,2022,https:/www.iso.org/standard/2700

146、1.30.Studies have shown that 95%of cybersecurity problems are caused by human error;World Economic Forum,The Global Risks Report 2022.17th Edition,2022,https:/www3.weforum.org/docs/WEF_The_Global_Risks_Report_2022.pdf.31.World Economic Forum,Future Readiness of SMEs:Mobilizing the SME Sector to Driv

147、e Widespread Sustainability and Prosperity,2021,https:/www.weforum.org/whitepapers/future-readiness-of-smes-mobilizing-the-sme-sector-to-drive-widespread-sustainability-and-prosperity/.32.Business Wire,Recent Study Reveals More Than a Third of Global Consumers Are Willing to Pay More for Sustainabil

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149、,https:/digital-skills-jobs.europa.eu/en/latest/news/digital-volunteers-programme-mentoring-smes-and-ngos-their-digitalisation.34.Lukonga,Inutu,Harnessing Digital Technologies to Promote SMEs in the MENAP Region,International Monetary Fund(IMF),2020,https:/www.elibrary.imf.org/view/journals/001/2020

150、/135/article-A001-en.xml.Data Unleashed:Empowering Small and Medium Enterprises(SMEs)for Innovation and Success 20World Economic Forum9193 route de la CapiteCH-1223 Cologny/GenevaSwitzerland Tel.:+41(0)22 869 1212Fax:+41(0)22 786 2744contactweforum.orgwww.weforum.orgThe World Economic Forum,committed to improving the state of the world,is the International Organization for Public-Private Cooperation.The Forum engages the foremost political,business and other leaders of society to shape global,regional and industry agendas.