Home Sep

Call us on: 0203 008 2489

Sep RSS feed Twitter Facebook Google Email Linkedin Linkedin

The Benefits of Big Data for SMBs

bigdataTechnology has enveloped society like never before, with people adding daily to the already massive volume of information generated online. This information can consist of retail transactions, social media, applications or even search engine results as well as anything else that can be measured. The sum total of all of this information is called big data and can be used by large and small businesses alike to improve services and products.

Big Data is fast becoming one of the most useful tools for any aspiring business however, it is the larger companies who have known and benefited from it for a while. Large amounts of consumer data and patterned behaviour are stored giving companies access to an invaluable amount of information that can aid them in product development and/or service development that is tailored to the needs of their customers. Recent advances in technology has meant that small and medium businesses (SMBs) can now also have direct access to the benefits of big data. One such breakthrough is Cloud computing which has been key in allowing SMBs to utilize large data sets. The Cloud can provide services in which large amounts of data are both analysed and stored without the need for massive hard drives or expensive software and some organisations are even offering insight and analysis into the data!

Why is Big Data so important?  Having access to so much information enables companies to get a better understanding of their customers priorities, making more clear the steps which need to be taken to attain their strategic goals. There are many interactions between consumers and businesses that can be better understood with the analysis of trends. One such interaction being product usage, an important issue that can have an effect on sales. By gathering information on how customers are using their products, companies can have a better grasp of pricing, marketing and how to get the best out of what they are selling. Another factor is customer numbers; resources are usually ploughed into acquiring new customers or retaining existing ones but it is only by looking at relevant data that this issue can be properly thought out and determined. There is no point wasting money attracting new business if you don’t yet know why so many customers are leaving; this is important, as misunderstanding the consumer base can prove fatal to any business, large or small.

Oomri can help your organisation understand the opportunities presented by big data, and has experts available to assist with any project.