Data Analysis Has Become a Big Deal for Small Businesses

Data has always been imperative, but more modern trends have placed emphasis on utilizing it to make important, educated decisions on the future of your business. Let's take a concentrated look at the data revolution and how your data has become a commodity.

What is Big Data?
The current data revolution is usually referred to as Big Data. Big Data is more than just the data itself; it’s the analysis of this data that is noteworthy. If you keep track of how your data modifies over time, you’ll be able to better adapt your organizational practices to meet the evolving requirements of the industry. These changes mean that organizations are going to have to take an analytical approach to upgrade operations, and data is the key to unlocking this untapped potential. By taking advantage of Big Data, you’ll be able to get the most out of your budget and workforce.

Small businesses are finally understanding data analytics and why they are so critical, even if their needs are somewhat simpler than large businesses. Small organizations just don’t have the assets to implement strategies as effectively as a large company, or they just don’t have the processes to properly analyze and quantify the data. Even if they are using similar solutions as larger enterprises, it all comes down to whether they know what they are getting out of the solution. There are two questions that need to be asked before you pledge to Big Data:

• Why haven’t more small businesses applied Big Data initiatives?
• What would it take to get your company’s data to work with you?

Small Businesses with Big Data
Small organizations have traditionally been significant proponents of new technologies because they often need them to remain competitive. Thanks to innovations in data analytics, smaller businesses are looking at alternative ways to ensure that their technology efforts aren’t wasted on unworthy solutions. Instead of investing in technology solutions just because it’s popular in their industry, they are looking at services that provide more practical and customized use for their business.

By taking advantage of the right technology, small businesses can apply solutions at a moment’s notice. Since they are flexible enough to make decisions on the fly, they don’t have to worry about stepping on anyone’s toes because they didn’t go through the proper channels to implement a new solution. This kind of agility permits small companies to look at data and make decisions much more swiftly and efficiently.

Invest in What Matters
While it’s great to identify that you need to apply a full-scale Big Data solution for your small business, it doesn’t matter unless you actually do it. No matter what your organization decides to implement for analytics, you’ll inevitably need to invest a significant amount of time and capital into it. Big Data can help your company know when to run promotions, how to react to consumers, and how to judge the value received from your technology investments. Numbers allow for a better way to measure value.

Macro Systems can help your small business better take advantage of technology solutions. To learn more, reach out to us at 703-359-9211.