Do small business have a phobia for big data?

Oct 3, 2018 | 750 Views

If you are a small company and are thinking that your company is too small to use Big Data, than think again. Are you scared to use big data in your business operations, than think again? Using Big Data can be advantages for you business can give you the necessary edge over other small and medium size enterprises who are too scared to include it in their businesses. Experts have made serious arguments about the use of Big Data in smaller businesses. What these smaller businesses need is a solid plan/strategy according to which they can set up big data in their smaller projects initially. 

Name is not everything.
While the name Big Data definitely suggests large datasets, name is not everything, like Apple does not sells fruits and Amazon is not a forest saving company. But in this case it is kind of what the name suggests. Big Data is usually data sheets that are so large that the regular traditional data processing software are not able to process, and these enormous data sets are definitely not something humans can analyse and check. The problem when it comes to smaller businesses and big data is that they more than often don't purchase the software that can process big data. Even though Big Data is available to everyone on the Cloud and are usually free or affordable.

Not everything is to be believed in.
There are a lot of myths surrounding Big Data already, while some are true most of them are nowhere close to the truth. One of the more common myths or hyped myth is that it is something that is only useful for big companies, because they are able to gather information on large scale from their customers and have the resources to gather this information and process them. While the fact of the hour is that is a small business can use big data if they want, all they need to do is takes steps to crunch those numbers using huge data sets. There is definitely no shortage of resources for these small and medium size enterprises. All you need is good enough visualization tool software than can convert the big data into graphics that can be feed to the brain at a glance, which is helpful which giving presentations to employees and clients and others who prefer visual knowledge over other things.

Big Data effectiveness in small business
As mentioned earlier in the article small businesses are scared to incorporate big data in their workings and one of the big reasons (no pun intended) is they feel inundate because of the sheer quantity of data out in the world. A business can be as large as possible but the fact is that no company needs every bit of data provided in a big dataset. The idea should be to know the specific questions to ask of the data so that one can separate the relevant data from the ones that are irrelevant. There is nothing that says time well wasted like analysing and processing the entire dataset in details every company big or small needs to follow a set of rules and strategies to reduce the size of big data and that it still makes sense of it. Decide what you want to find out, and which types of data will be most useful for answering your question. Focus on the parts of your dataset that are applicable to your question and analyse those. It may be that you need fewer pieces of data, or it may be that you need more than you bargained for. This instantly makes the dataset more manageable.

What are you waiting for?
As a small business you should try to use big data today (as soon as you can), it is not that difficult to integrate big data into your business operations. The intercommunication that is done with your business is a source of information that can be used for your business. Data like - customers behaviour and their transaction are useful when studying customer's behaviour. There is no need to go onto external cloud based websites to access the dataset. Select some appropriate big data processing software and see what it is capable of doing for you. Processing big data in this way makes planning for the future and adapting your business model to your customers' tastes and to their purchasing patterns much easier. 

Source: HOB