Enhancing SMEs' data analytics capability through university tie-ups

In a commentary, Lecturer of Accounting Benjamin Lee, Associate Professor Gary Pan and Associate Professor Seow Poh Sun from SMU School of Accountancy opined that SMEs could consider enhancing their data analytics capability by partnering universities through faculty mentored student projects. The benefits of such collaborations could include potential new hires who are exposed to the industry and have the knowledge of the company, exchange knowledge with faculty and students, and innovative solutions from millennials. The collaboration will also allow university students to better understand the growing complexities in running a SME, and build business capabilities that will benefit the overall SME sector. One such partnership that has worked well so far is the collaboration between SMEs and SMU through its SMU-X initiative, launched in 2015. The SMU-X initiative offers an experiential curriculum that motivates students to apply their knowledge in solving real-world problems with mentorship by professors and industry partners.