Is BigData for Small and Medium Businesses?by Ken Miller Tech Writer Companies need real time information, information which can be good enough for them to come up with customised services for their customers, or else they loose appeal in the market. It is thus important for businesses to gather as well as analyse, even manage information related to customers, both internal and external. This would also include knowing about the suppliers as well as the partners too, or else how would a company expand in the large ocean of the business world? Monitoring of the company’s performance too is important on a periodical basis, which brings in real time feedback on the services or products doled out. This would mean finding means to bring down costs for the company and here is where big data adds a lot of value to small and medium enterprises. Information thus gathered would be easily accessible and can be used frequently as well.
The Real benefits
Data analysis along with management is important. It holds high value for any business in this day. This is because customers want to be treated on a personal note, and such tactics would allow companies to accomplish that. With the help of big data platforms or systems, SMEs can now do the following:
- Collection of information
- Analysis of any amount of available information
- Bringing down operational costs
- Remain Competitive
- Expansion into more territories
How it worked back then
In the days gone by, SMEs didn’t bank on big data systems or technological platforms, since they didn’t feel that large volumes of info would be of any help. However, as time passed by, companies were faced with the challenge of realizing the true needs of a customer or consumer, and hence started investing in expert advice as well as technologies related to large data to achieve the same. In the beginning, when such investments were done, it was expensive; however, with newer as well as innovative ways to play safe, technological developments have made it cheaper to use big data platforms or services.
In the past, there were issues when it came to harnessing and solving the large volumes of data that came in. This is because there were plenty of inaccuracies, traditional collection methods were of no use, and managing it all was a chore. In addition to that, companies never knew how to use the given data, especially for managerial purposes. With this hampering the status of the company’s mission on profit making, big data thus was churned to help with transactional, structured and unstructured data. It helped in a number of studies like consumer behaviour along with the services and products status in the market.
With this in place, small companies and SMEs better understood
- Their stance in the markets
- The demands for their goods or services
- How it could improve on its offerings
- How it could make larger appeals to customers worldwide
- The ways in which cost effective methods can be used for production and operational needs
- How it could manage a venture without hitches or glitches
- How it could manage networking as well as business relationships with clients
- The ways in which loyalty from consumers can be maintained
- How it could make large profits
The scene now
With big data in place, SMEs now understand how important it is to identity in hand what the company needs when hiring such systems or platforms. Companies can use data frameworks as multiple options, for service support reasons especially. However, companies should do their homework to know if big data would help the company make more profits in future or not. The versatility of the system and platform too should be checked, since in most cases there are no complexities and it isn’t bulky.
With large data platforms in place, firms can compare what customers talk about or want. Companies now can decide on which demographics to target, how to maximise their promotional activities as well as the results their efforts would reap. Apart from this, companies can also focus on performance improvement, supplier related knowledge along with sales growth, especially for companies that indulge in B2B services. Custom software development teams can help you leverage the power of Bigdata for your enterprise.
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Created on Dec 31st 1969 18:00. Viewed 0 times.
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