The impact that big data can have on a business of any size cannot be underestimated.
Experts writing for Forbes business council advised that small businesses in particular simply could not afford to ignore big data. The reason behind this?
Data can have a transformative effect on all areas of your business, and the simple collection and analysis of data can make big changes, starting with the work you complete every day.
Data and productivity
The last 12 months have been influential in showing how data can drive productivity, according to NASDAQ.
The key lies in the analysis of holistic factors that contribute to the employee experience – things like downtime around meetings, productive hours, and so on.
Using your productivity system and then conducting in-depth analysis to look at how you can help to drive your employees on is, therefore, important. SharePoint analytics can, for instance, help to analyze employee behavior and productivity; Teams and Slack analysis can achieve much the same.
The marketing factor
If you can get your business-as-usual work in order, you can turn your hand to your external marketing and customer collection.
In the age of social media, marketers can find a huge amount of data to use in their operations and a huge market on which to test new marketing models.
As outlined by AmericanExpress, this data can be used to make your marketing smart and help you to spot trends way ahead of time. With this information, you can continue to expand your customer base and look towards generating new products.
Innovation with sense
Having a huge dataset shows you exactly how your business can move forward. An analysis into how your customers are purchasing products, and where they might move their interests to next, is invaluable.
All the while, you’ll be managing your employees in a fashion that helps to drive productivity and nip any issues in the bud long before they can become long-term problems that cause disruption.
In short, big data provides holistic benefits to your business by turning your everyday operations into smart ones.
Start collecting and analyzing data today. It can, and will, transform your business prospects. There is no area of business that cannot be improved upon by the use of analytics and smart data use, and that is true for businesses of any size – not just the big industry players.