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Data Analytics for SME in 2021

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We are entering into 2021 and it is estimated that every person on earth will generate 1.7 megabytes of data per second! That’s more than a Zettabyte of data a day. What does that have to do with data, you might be asking?

So that we understand the dimensions if we recorded an HD movie at 1080 pixels and it will occupy us a Zettabyte, its duration would be 36 million years or with Zettabyte we could save the equivalent of 17,200 million 64 GB iPhones.

On the internet, any interaction is data. That is why we are now talking about Big Data (an extremely large data set). Moving the mouse results in data.

Faced with this scenario, Big Data has played a crucial role in determining current patterns, trends, and associations, especially concerning human behavior and interactions.

This sea of ​​data should be taken into account by entrepreneurs and SME owners who seek to substantially increase the productivity and ROI of their business through this valuable information that allows them to be ahead of their competitors. Like it or not data analytics and business intelligence are here to stay.

At the same time, we will explore 6 benefits of the implementation of Big Data in your business. Let’s get started!

1.- Increase in sales: If it is about seeing the results that companies obtain when investing in Big Data, it should be noted that the data allows the extraction of key information from the target audience, which helps to make marketing decisions aimed at knowing better to customers and offer products or services tailored to them.

2.- Reduction of resources: Big Data is a key factor in reducing human resources in organizations, through subcontracting.

3.- Possibility of preventing failures: Among its infinite possibilities, Big Data allows companies to build models capable of projecting the occurrence of failures and preparing to avoid them.

4.- Online reputation control: Big Data tools can also do sentiment analysis. Thus, you can get feedback on who and what is being talked about in your company. If you want to monitor and improve the online presence of your business, Big Data tools can help you with all of this.

5.- Trend analysis: Google is one of the largest data cultivation companies in the world. Google Trends offers the ability for your business to search for trends based on keywords or terms.

  1. Social Media Monitoring: Find out what is being said about your online business by monitoring social media. Social media platforms are the perfect places to access large data sets of feedback and comments about your company’s brand. It gives you direct access to your customer base.

In this way, Big Data offers access to a gigantic volume of data (billions of records), of great variety (numbers, text, categories, images, and videos), allowing companies to process everything with speed to better understand a certain area, to optimize its resources and modify actions or reinforce approaches.

Currently, there are solutions which help companies in their digital transformation process so that data becomes their best ally when offering a service or product to their customers.

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