Big data can seem complicated on the surface, but it’s getting easier all the time.
Seemingly meaningless bits of data can form together bit by bit to provide actionable insights that can be used to understand more about consumers, operational performance, and potential risks and opportunities. While gleaning these insights might have once taken expert statisticians, learning from big data is becoming easier as digital technologies continue to evolve.
While the concept of ‘big data’ as we think of it today may have roots from conference tables at Silicon Valley tech companies in the mid-to-late ‘90s, even small mom-and-pop businesses have access to a massive amount of data that can better inform their business practices.
This is due in part to tools like native analytics features on platforms like Google, Facebook, and Twitter that enable us to better analyze web traffic. Other tools provided by companies like Punchh, Translogic, and Canopy Labs work to provide real-time insights about customer behavior, the efficacy of promotions and marketing materials, and more.
Regardless of your business’s scope or industry, odds are in favor that there is a big data solution that can meet your budget and needs. Learn more about the benefits of big data for small businesses in the infographic below, produced for the UAB Collat School of Business’s Online Information Systems Program.