Small businesses are thinking bigger about their data â and itâs about time.
The term big dataÂ sounds intimidating â reserved only for the Fortune 500 leaders â but that could not be further from the reality of data analytics in the competitive small businessÂ market today.
Previously the exclusive domain of statisticians, large corporations and information technology departments, the emerging availability of data and analytics â call it a new democratization â gives small businesses and consumers greater access to cost-effective, sophisticated, data-powered tools and analytical systems.
For small businesses, big dataÂ will deliver meaningful insights on markets, competition and bottom-line business results for small businesses.
For small businesses and consumers, the big data revolution promises a wide range of benefits.
New Tech, New Rules
Today, big data is changing the rules of commerce and business operations, creating opportunities and challenges for small businesses. The convergence of three leadingÂ computing trends â cloud technologies, mobile technologies and social mediaÂ â are creatingÂ cost-effective, data-rich platforms on which to build new businesses and drive economic growth for small and large businesses alike. This helpsÂ boostÂ local economies as well as global e-commerce and trade.
Digital data will continue to turbocharge the movement to understandÂ analytics, in both small and large businesses. Proprietary data combined with data from the cloud will continue to create new insights and a deeper understanding of what consumers need, what they like and what will keep them happy.
The development of new data sources and unique analytics will drive entrepreneurial growth around the globe over the coming decade.
Today, small businessesÂ can leverage business management solutions, including Enterprise Resource Planning (ERP) and Customer Relationship Management (CRM) software platforms, to automate operational management tasks and keep better watch over their very own big data â including analytical views of sales and marketing campaigns.
Small businesses can stay on top of accounting, cash flow, budgets, balances and more with financial management software alternatives, as well as tools and applications for inventory management, project management, fleet management, human resources and more.
By optimizing real-time data analytics, small businesses today are capturing a better view of theirÂ administrative, sales and marketing practices â including real-time overviews of whatâs working well and what needs scrutiny. Small businesses mining their own big data today routinely deploy a variety of solutions â most originating in the cloud â to improve operational and administrative efficiency and productivity, while reducing manual tasks and redundancies.
Today, small businesses are no longer intimidated by big data. They are embracing it to create and manage bigger opportunities for growth and profitability.
Todayâs competitive small businesses realize that optimizing analytics and business intelligenceÂ allows them to recognizeÂ the full benefitsÂ of their very ownÂ big data â powering better marketing, sales and operational efficiency, productivity and functional gains. With data-driven tasks and decisions in the mix, a new culture of small businessÂ is emerging, powering greater opportunities for the small business community, its vendors and customers.
Angela NadeauÂ Â is CEO of CompuData, an award-winning business technologies leader. Angela maintains a deep knowledge of the trends driving businesses today to be more productive and profitable by leveraging technology. With more than 25 years of expertise, she has advised thousands of businesses on effective ways to leverage technology to increase productivity, profitability and efficiency â guiding businesses of all sizes to new levels of market success and corporate growth.
Originally posted via “4 Reasons Data Driven Small Businesses Are Embracing Big Data”