First of all, what is big data?
According to SAS, a leader in the industry of business analytics software and services, “Big data is a term that describes the large volume of data – both structured and unstructured – that inundates a business on a day-to-day basis. But it’s not the amount of data that’s important. It’s what organizations do with the data that matters. Big data can be analyzed for insights that lead to better decisions and strategic business moves.”
To simplify further, there is data everywhere, about pretty much everything. Businesses are collecting data that can be analyzed and used to help them make better decisions faster. As your company begins its transition to more digital systems and processes, you too will begin collecting data that can be used to formulate these strategic plans for faster, more efficient growth.
Until recently, the ability to analyze the volume of data at our fingertips was reserved for larger companies with their deeper pockets. Today, small businesses can make a reasonable investment into a third-party data mining and analytics service that will assist in extracting key insights from their data, cross-referenced with that of other businesses.
The benefits of enlisting the help of a company like this are pretty clear:
- Understand your customers’ needs/wants to help you improve your product offerings
- Do a better job of marketing your business by identifying your ideal clients & increasing your visibility wherever they are
- Take advantage of social media for customer experience and engagement
- Identify trends in your market and adapt to changes before they happen, reducing the risk of falling behind the competition
If you’re ready to continue digitizing your business and are looking for more guidance on data analytics or other technology services for your business, let us know. We’re here to help you leverage technology in a way that makes the most sense for your business.