Whoever said big data was only meant for big organizations didn’t take into account that the term is completely relative to the size of your company. Big data simply refers to analysis of data that is a bit larger in volume and variety than you are used to, presenting the need for a Business Intelligence (BI) solution that can translate all that data into insight.
Don’t let the word “big” throw you. What’s big to an SMB may be small to a large organization.
Much of your “big data” for BI is generated and recorded by your ERP and CRM systems and can be used for immediate insights about your business. But data can come from outside sources as well, like social media, and can even be integrated into your existing systems. Structuring the storage and delivery of this data can lead to consistent, streamlined reporting on any aspect of your business.
If you’re an SMB, you are likely already using big data and may not even realize it. Do you use Google Analytics and Google Adwords to learn customer behavior and revenue drivers? All big data.
Here are some ways small to midsize businesses can leverage big data:
- Use a customer loyalty program to collect data that reveals your most popular products or product categories, and the customer demographics associated with those categories.
- Track how customers navigate the web, and use that data to tailor advertising and marketing efforts.
- Streamline staff recruiting by keeping a database of potential candidate information, cross-referenced with public information like LinkedIn profiles.
- Monitors social media so you know what people are saying about your company – and respond accordingly.
- Monitor the people you’re connected with on social networks to build and maintain relationships.
Read the full article on Toolbox.com for a more detailed look at leveraging Big Data for your small business.
Currently, Turnkey Technologies is offering a complimentary 2-hour Business Intelligence/Reporting assessment. In this session, we will scope your high-level business processes to identify your BI reporting needs, requirements and areas for improvement.