Leveraging Big Data For Small Businesses

Leveraging Big Data For Small Businesses

Gov CIO Outlook | Monday, February 25, 2019

Business data has existed for ages in the form of handwritten ledgers, filing cabinets, floppy disks and many more, a precious resource untapped. These data equipped with useful information help companies effectively market to customers. But such data clouds was used only by giant business firms until recently. But today the falling technology costs and innovative tools that display complex databases enabled small companies to unlock more benefits from data.

To compete in today's market small business, just like the larger companies require the same tools that can collect, analyze, and make sense of the data they have with them. Below are some big data solutions intended for small businesses.

Being a small business is no restriction on achieving business intelligence. Software as a Service (SaaS), being a leading business analytics service turns the data into insights that can assist in decision making, regardless of the size of an organization. There is an analytics method like Google Analytics which can help track precisely how a visitor behaves on the company's website and how much revenue that visitor generates.

Few Big Data Companies (DataStax, Guavus, Logi Analytics)

Big data also enables small business to work together with the competitors. Using the power of combined analytics more market insights will be relieved which allows to better position the small business and improve the approach to the customers.

Small companies have to focus on their local environment they deal with, and big data enables to zoom in on the preferences and behaviors their local crowd a lot more. Getting access to these preferences and behaviors combined with personalization can offer significant benefits compared to your large competitors. For instance, in the case of a small retailer, in the light of these insights they can easily adjust their stores based on local preferences when they combine and analyze all sorts of local drivers. Big data as a Service solution can enhance the in-store experience for small retailers. Combined with local preferences small enterprises can better target their customers.

Big data can be the best one of the sources a small business can afford for its success.

Check this out: Retail Tech Insights

Check out: Top Big Data Companies 

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