Have you heard the buzz around “big data” lately? If the concept of using data for your business seems daunting, you’re not alone. Many small business owners think that collecting and using large amounts of information is time consuming, costly and difficult. But, it doesn’t have to be that way. There are many free tools at your fingertips, that can help you gather data and make sense of it. Here are some reasons why data is big for small businesses:
Small Business Flexibility
In using big data, real success comes from the ability to quickly act on insights gained. Small businesses can make a simple tweak to a product or service or change course more easily than a large corporation. This flexibility makes it easier to utilize big data and find success with it.
Know Your Customers
By using information creatively, you can get to know your customers and predict their needs. For example, read this about roofing contractors that utilize Google Earth to improve their customer service. Even public data sets, like weather information can be useful for small businesses. If you’re a restaurant that knows there’s an unexpected cold front approaching, you can start creating an awesome Soupe du Jour.
Behind the fun side of social media lies a wealth of actionable information. On any of the large social platforms, you can gain insight about what consumers are currently interested in and therefore what products and services they are seeking. Although there are reports that you have to pay for, you can also gain much of this information for free by being a keen observer.
Big data is an easy way for you to get to know your customers and determine how you can better meet their needs. Small businesses have the advantage of acting quickly on insights, which can positively impact sales. Business ownership requires evolving and growing with the times, and big data can help you do just that.
Are you a small business owner that found success using data? Share in the comments below!
Photo Credit: Pythian