Big Data Does Not Exclude Small Businesses
The concept of Big Data, which suggests that organizations have massive volumes of complex information and must possess highly sophisticated business intelligence applications, often makes it seem like only large enterprises can take advantage of the phenomenon. Truth be told, the underlying philosophies of the Big Data movement, which encourage decision-makers to use information to build more effective operational strategies, can be addressed by companies of all sizes.
Computerworld highlighted how Big Data initiatives can be completed by even the smallest organizations because they will undoubtedly have information they can use to augment current practices. If a firm has a website, for example, chances are that decision-makers have implemented some type of monitoring platform so they can recognize how useful web pages are. This means that the data that is collected within these applications, regardless of its size, can be mined and used.
At the same time, however, the more information companies have, the more likely they will experience a greater change when those resources are analyzed and put to use, hence the word "Big" in Big Data. Again, small companies are not necessarily at a disadvantage here: All they need to do is find where their useful information resides, Computerworld noted.
How to join the Big Data movement
Small companies tend to carry out day-to-day tasks without concrete strategic direction, sometimes due to inexperience or possibly the lack of insight needed to progress. Diving into the Big Data landscape sounds enticing because doing so will enable firms to gather, analyze, and use information to improve their existing decision-making process. However, the diverse nature of the market can be somewhat intimidating for smaller firms, Computerworld reported. To reduce this complexity, executives should recognize what their objectives are and how implementing business intelligence tools can make meeting these goals easier.
Forbes noted that smaller companies should round up available information and assess how they can use those resources. These evaluations are often more cost-effective than similar initiatives carried out by enterprises because smaller firms don't need to invest as much time or resources to do so.
Decision-makers then need to acquire more insight into the Big Data landscape, Forbes stated. This means investigating cloud computing, business intelligence suites and other technologies that will likely reduce data management complexity.
The truth is that all organizations can take part in the Big Data movement as long as executives are aware of the steps they need to take to achieve success.
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