How BIG Data Helps Small and Mid-Sized Businesses

Big Data is really big and something beyond your imagination. If you are overlooking the importance of this burgeoning data - you are unfortunately at the bad end. Time has changed and businesses across the board are leveraging this data to make the best out of their investments. These technology tools are getting simpler with each passing day, allowing enterprises to meet their intended business objectives. These user-friendly tools are paired up with a trail of rich features making data curation, storage, and analysis easier. But, now it's the time for SMBs to take their best foot forward to seize BIG data potential before their competitors do.

Prior to straight digging out the benefits of Big Data for SMBs, let me acquaint you with its definition:

Big Data is analyzed to study marketing trends in business, including in the fields of medicine, science, and manufacturing, according to PC Magazine. This large volume of data includes various data types such as emails, social media content, CCTV videos, activity logs, business transactions, photographs, including an enormous amount of data collected through sensors and other devices.

Typically, when Taming big data with Apache Spark is described, experts make use of the term 3V's, wherein V stands for volume, variety, and, velocity. Most of the small and medium scale businesses confess that they don't understand or use this.

Now, let's take a quick look at the traits of Big Data that can help SMBs to transform and thrive in today's data-driven world:

The opportunities delivered by this enormous amount of data are numerous. It provides an ability for businesses to learn from your business data to make smarter decisions.

By analyzing this data, SMBs can perform the following actions:

• Discover who their most valuable customers are

• Gain insight into their competitors' actions

• Track the changing market trends

• Figure out the ways that can help them augment their business processes

• Know about Your Valuable Customers: By leveraging Taming big data with Apache Spark, SMBs can access a complete portfolio of their customers and at a very granular level, such as who they are, what are their buying practices, and what made them order specific products/services. Big Data can help small-scale companies to ensure tailored experiences for their valued customers. Right from the moment the customer first contacted your business to the post-sales service delivered by the company, all can be tracked within a jiffy. This information will let SMBs design and market their offering in such a way that more and more customers can opt for it and make your business a real success.

• Slash down customer churn: It can also help you acquaint you with the number of customers that chose your offerings in a specific time frame, and when they discontinued. Such details will help you use the details to understand the reasons for their products/services' discontinuation.

• Social Media to Understand Customers: Social media is one of the best platforms used by millions of users to share their understanding and feelings. Small and mid-sized businesses can use this data to comprehend what they say about their offerings.

It is inevitable for all-size companies to fathom the importance of Big Data and employ technologies to make smarter decisions.

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