Big Data Analytics For Small Businesses

Big Data Analytics for Small Businesses

The ever expanding internet data coupled with social and mobile infrastructure expansion has made big data analytics a buzz word, especially looking at the fact that ninety percent of the world’s internet data is created in the last couple of years. However Big Data is the name of a problem, not a solution. The solution is the advanced algorithms running on large platforms crunching data and numbers to generate useful information. It could be termed as data recycling to obtain packets of information from a dense knowledge and data clouds. Naturally, most solutions involving big data are based on huge processing clusters to handle the load of processing bulk information making it prohibitive for small and medium level business which cannot cope with the barrier of entry investment. In the last few years, large enterprises have invested their resources to generate analytics and harvested tremendous gains in business by streamlining marketing and streamlining products to user needs. However cloud computing platforms have opened this market for small and medium sized business that can now leverage the available processing power of the cloud to dive into the immense analytics market. There are numerous lucrative opportunities in commercial transaction systems, website traffic monitoring and social media analytics besides others that are waiting to be explored.

Most experts have learned over time that taking scratch notes or relying on excel sheets alone will not make them competitive. They have to take advantage of systematic skills in data management with advanced technologies which can process large amounts of data and make sense from it. The pay as you go model in cloud platforms is ideal for small companies that can pay little, especially in terms of infrastructure and human resource overheads. The time savings and quick testing also makes sense for companies that wish to touch the base before diving full throttle. Hence the availability of cloud resources is opening new venues of business expansion for small companies that can quickly take up a specialized analytics opportunity to improve internal business or provide reporting to other enterprises. At the same time, small companies can take advantage from new cloud-computing based tools that are already leveraging new techniques to mine analytics and generate trend reports. These tools can capture behavior and impressions of prospective and previous customers to produce predictive models and forecast future actions. By spending small sums on these reports, some time just a few hundred dollars, a small company can get a grasp of user needs or information and technology flow. However, the overwhelming information can be a pitfall for small companies that may collect more than they need. Hence it is crucial to decide on the factors that value your business the most as well as concentrating on fewer but complete tools to achieve better accuracy and convergence.

By Salam UI Haq

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Comments

  1. DataH says

    Salman nice article. Cloud computing is driving a new wave of innovation in the area of big data. The open source solution from HPCC Systems provides a single platform that is easy to install, manage and code. Designed by data scientists, HPCC Systems is a data intensive supercomputer that has evolved for more than a decade, with enterprise customers who need to process large volumes of data in a 24/7 environment. Its Thor Data Refinery Cluster, which is responsible for ingesting vast amounts of data, transforming, linking and indexing that data, and its Roxie Data Delivery Cluster are now offered on the Amazon Web Services (AWS) platform. Taking advantage of HPCC Systems in the cloud provides a powerful combination designed to make Big Data Analytics computing easier for developers and can be launched and configured with the click of a button through their Instant Cloud solution. More at http://hpccsystems.com/

  2. DataNerd says

    An excellent solution to the big data problem is a cloud based text analytics API from Semantria. I registered with them last week to run sentiment analysis on customer reviews. It processed everything in under a minute into a nice colour coded worksheet in Excel. They let you run 10,000 documents for free  after you register on the website. I’ve tried other sentiment softwares and they were a little wishy washy. Two highlights for this API = Speed & Accuracy

  3. Helping Ghana Gro says

    The term ‘Big Data’ is so misused in fact it is being use to identify large amount data. I do believe that we need to keep it simple because in reality there no such thing as ‘Big Data’. It ether a data processing installation have large amount data to store, retrieve and/or query to produce reports to make sound managerial-decisions or they do not.

    We need to do better analysis of our requirements as they relate to our technological infrastructure that is required to support our business processes. It is almost as the need for technology specialist with a full range of business expertise or business analyst with a full range technological expertise. Hence, we can come up with the best technological infrastructure to support the most diverse business processes and stop coming up new terms for old script-down idea.


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