How Small Businesses Can Use Big Data

As a small business owner, you may think that Big Data could not be any sort of help to you. After all, that market is for big businesses with lots and lots of resources. In reality that isn’t actually true. As a small business you can make use of Big Data in your own unique way. It isn’t even that difficult. All of the resources you will need are readily available online, and usually for a pretty affordable cost. Here are just a couple ways in which Big Data can be a big benefit for your small business.

As a small business owner, you may think that Big Data could not be any sort of help to you. After all, that market is for big businesses with lots and lots of resources. In reality that isn’t actually true. As a small business you can make use of Big Data in your own unique way. It isn’t even that difficult. All of the resources you will need are readily available online, and usually for a pretty affordable cost. Here are just a couple ways in which Big Data can be a big benefit for your small business.

Customer Relationship Management (CRM)

A very important resource for any business is CRM software. They are cheap and you can form a team rather easily within your business to handle all customer relations issues. According to smallbusiness.foxbusiness.com: “Only about 14 to 18% of small businesses use CRM systems which keep track of interactions with customers”. That number is staggeringly low. Any and every business should invest in some sort of CRM, even if it’s just a webpage. If you absolutely can’t allocate any funds towards a full-fledged CRM program, then it is pretty simple to get it done yourself. If you can, get some employees and work on some team building exercises so they know what needs to be accomplished and get them to work designing a successful CRM spreadsheet. A great way to start is by sending out emails to your customers. Set up a way for your customers to have the choice to leave their emails and send them out newsletters or promotions. The feedback you receive will greatly help you understand your customers better. You don’t need massive servers like these big corporations have. As a small business you have a more specialized group of clients, and so you can work towards understanding them and improving your business practices to engage that group of people. To really get all of these benefits rolling on a tight budget you have to think critically. Map out what your business requires, and identify what you can and cannot do with your budget. If you are seeking out someone else to manage your customer relations then you don’t have to get brand name companies.  There are free and low cost places that can be a much more reasonable investment if you are on a budget. Be prepared to negotiate with people and work for the best rate that you can get for the best service.

Marketing

You want your name, your brand, and your product distributed as thoroughly among your customer base as possible. Big Data is here to help. If you, as a small business owner, take the time to analyze the market trends relating to your products and key in on when or where buying habits are highest, then you will be saving yourself time and resources that are otherwise wasted. You don’t want to lose money to a misplaced advertisement or fall victim to marketing your product when there is next to zero demand for it. An effectively marketed business has a much higher chance of drawing in new customers, retaining old ones, and expanding their brand to new horizons. As your small business grows and expands, you can use Big Data to look and see if your business could be successful in an international market place. Big Data is everywhere and you can make use of it easily. When going through all of this information and using the software you downloaded, be sure not to overdo it. Don’t go for program after program, you will lose track. Keep it as simple and streamlined as possible. It will save you from complications in the long run.