For 2013: Small Business Embraces Big Data

When you start talking Big Data and Record Linkage around a small or medium business owner (SMB), all you get is their eyes glazing over and their hands starting to tremble.  You can’t blame them really.  In today’s economic climate, the concept of Big Data seems out of reach and definitely out of budget. These businesses are starting to grasp the gold that is buried in their vast amounts of data, but they just don’t know how to extract it.  They’re educated and have read all about the benefits. Just the thought of hiring qualified people to manage their Big Data issues strategically seems out of the question.

In today’s environment, the only tech term tossed around more than “Cloud” is Big Data.  Without a doubt, Big Data is taking the business world by storm.  As more understand the impact and strategically sort out their issues, Big Data has become a huge money maker.  Handled properly with the right guidance, Big Data can shore up a bottom line and increase customer loyalty quicker than any other initiative available in the boardroom. For the SMB, they can reap the same effect and realize a substantial boost to their bottom line.  Here are some areas for consideration:

  • Human Interaction: Mobile devices measure and collect human reactions, in the environment they occur.  Data sets will provide keen insight on how products are conceived, developed and marketed.
  • Social Media:  While watching TV, people use social media to comment about what they are viewing, to include the commercials.  This data set would be invaluable to gain consumer insight into their products and media being viewed.
  • Predictive Behavior: Gather, analyze and then forecast or predict online consumer habits would provide business the ability to market, service and build a strong brand loyalty with consumers.
  • Big Data Sharing:  On the horizon, small business will be able to tap into data gathered across industries to provide the same strategic advantage as a Fortune 500 has.
  • Simplified Big Data Software:  Software products available to the SMB that provides effective and affordable Big Data solutions.

Your local SMB may never be able to compete head-to-head and dollar-for-dollar with the Fortune 500 companies in the Big Data war, but they will be able to apply technology in an affordable manner that will provide them significant advantage in scale (data cleansing tools, as an example).  As developments move forward in managing Big Data and record linkage, the gaps will surely close and the true advantage will be with SMB, who typically can react to the changing data sets in a quicker manner. Their agility and responsiveness to a Big Data strategy will secure a stronger financial path and growth.

 

Data Ladder’s data cleansing tools are designed for big data with best in class accuracy and processing speed for cleaning and matching millions of records.

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