As a startup business, you have to use any tools at your disposal to help your enterprise grow. Believe it or not, one of the best ways of helping a startup grow is by taking advantage of big data. Traditionally, big data is something that large corporations leverage to gain a competitive edge. Today, it’s a concept that smaller startups are using. Here’s why big data is so important to today’s startup firms:
Big data doesn’t have to mean terabytes of information
Despite the name, big data doesn’t mean you need a room full of servers that have information on them! Rather, it’s a term that describes a volume of raw data. In essence, something other than a single data set. Small startups can scrutinize details like membership databases to learn more about their customers. Big data doesn’t have to mean historic information that dates back twenty years or so. Nor does it necessarily refer to gigabytes of information stored each day.
Streamline the sales and supply process
Anyone that has a small business will be selling something. But, what is it that customers buy the most? When do they buy those products and services? And why do they buy them? The IT industry now comprises a vast array of data experts that can process data and report it into a usable form. Almost two million people alone last year got hired by firms to deal with big data. The infographic below details just how important the sector is to businesses:
Infographic Produced By online master of science in computer science