How Can Small Businesses Use Big Data?



吳彩麗 
Jacqueline Vivi
D0732325

link:  https://www.bernardmarr.com/default.asp?contentID=1442

The main objective of using big data is to analyze large amounts of data and drawing conclusions from it to help companies, organizations, or individuals to better themselves. This article talks about how big data is as effective to use for small businesses as it is for large businesses.

There is actually no big difference in using big data for large and small businesses because big data can analyze data no matter the amount and can be used to scan the customers to grow the business. However, Small businesses do have a smaller number of customers and it can actually be seen as an advantage because businesses can act faster on data-driven insights.

Big data enables small businesses to see their customers in a bigger picture, (ex: what they like, what they dislike, their shopping patterns, etc. ) recruiting employees, improving operations, etc. What I learned interesting is how big data can be used as a medium to study competitors. Traditionally, companies have to first hear news from person to person to know about their competitors and then think about what they can do to be better than them. Now, companies can look at their competitor's social media and websites to know their product popularity, customer reviews, and even their financial data.

Small businesses have a larger number of competitors. Therefore, they need to be extra cautious and be ready to improve with new innovations each time so that they can grow their business faster in order to become more stable in the market.

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