Did you know that with Big Data analysis companies today have a real opportunity to improve their business and operating strategies, based on information they generate on a daily basis?
Because it facilitates the rapid and real-time obtaining of all types of data, this technological practice is key to improving decision-making and promoting the growth of organizations, regardless of their size.
Keep reading and know the benefits that analyzing Big Data has for your SME …
Importance of Big Data analysis for your business
- 1 Importance of Big Data analysis for your business
- 2 Benefits of Big Data in your SME
- 2.1 You get high-quality information in a timely manner
- 2.2 You better understand the preferences of your consumers
- 2.3 Create better digital marketing campaigns
- 2.4 You offer personalized services
- 2.5 You meet needs at the right time
- 2.6 You make decisions empirically
- 2.7 Your data is power; use it in your favor
Big Data is a term that refers to the large amount of valuable data that quickly originates in business every day, explains technology company PowerData.
Its relevance is in analyzing this data, not just storing it. By studying them, it is possible to identify problems and areas of opportunity in the company, leading to smarter decisions, more efficient work cycles, continuous improvement, increased profits and loyal and satisfied customers.
This through analysis tools such as an ERP (Enterprise Resource Planning), a CRM (Customer Relationship Management) or a SaaS (Software as a Service), to name a few.
Benefits of Big Data in your SME
Big data, well used, gives small and medium-sized companies a competitive advantage to better understand their customers and improve their processes, which is essential for them to remain profitable and meet their growth objectives.
According to the Forbes portal, some benefits of implementing Big Data in your SME are …
You get high-quality information in a timely manner
It’s a resource with which you get unlimited amounts of specific information about your business, allowing you to know how to improve, predict future trends, understand why customers buy, and more.
You better understand the preferences of your consumers
With Big Data you know what products are being purchased and how they are being obtained. It allows you to capture your customers’ experiences and behavioral information from any type of device, including laptops and desktops, smartphones, tablets, and more.
Create better digital marketing campaigns
With available data you can track the performance of your campaigns to better guide your digital strategies . You predict which groups of people will respond to different marketing strategies since you know exactly their ages, income levels, locations, etc.
For its part, the magazine Techwire Asia indicates that other advantages that you get as a small company when using Big Data are …
You offer personalized services
Through your website, social networks, electronic payment terminals and digital media you can get information about the habits of your buyers. With this new knowledge, you can customize your services and even offer loyal rewards to customers.
You meet needs at the right time
Although your only source of information for now is the Internet or public data available, you can track trends and meet current needs of your consumers.
Analyze conversations on social networks and the buzzwords of the search engines to know which articles or services of your business are the most demanded in the market; with this you can expand to a new one or improve what you already offer.
You make decisions empirically
Along with Artificial Intelligence (AI) technologies that help translate data into knowledge, you can make more informed business decisions, minimizing errors; maybe you will find a new investment opportunity or detect in time the projects that are representing a flight of money.
No matter how small your business is, Big Data analysis will significantly impact it; in fact, Chilean companies are already taking advantage of it, it is expected that the growth of national investment in this type of solutions in Chile will grow more than the world average ; in 2020 it would reach a total of US $ 203 billion in investment, according to Emol.
Your data is power; use it in your favor
Developing a culture supported by Big Data analysis is a competitive advantage that will make your SME stand out from its competitors and accelerate the growth of your business by leaps and bounds. Transform your data into information and information into knowledge!
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