Big data analytics can help small businesses, too. By taking advantage of the ability to collect and analyize data quickly and efficiently, small businesses can use these big data tools to respond rapidly to market changes and customer needs, giving the business a competitive edge and new tools for success.
Key Takeaways:
- Regardless of the size of the data being captured and stored, small businesses can use big data analytics to work faster.
- While data analysis has been around for decades, applying big data analytics brings speed and efficiency that was never previously possible.
- There are many genres of analytics available that can help extend an organisation’s analytical ability. Three of the most common are graph analysis, path analysis and text analysis.
“The value of analytics is only achieved by actions being taken.”
https://insidesmallbusiness.com.au/planning-management/going-big-with-small-data
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