Big Data and Small Businesses. How Can Big Data Make A Big Impact for You?
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Did you know that as of 2022, there are 30.7 million small businesses in the United States?
Typically, small businesses will produce less big data as compared to larger businesses and corporations however, this data still holds valuable insights that small businesses are in a unique position to react quickly to. Big data provides all businesses, big or small, actionable insight that when properly used, can make a business more profitable, and successful and experience more growth opportunities.
“Businesses big and small should not overlook the inherent value held by big data.”
How can small businesses put big data to work for them?
Big data can help small businesses gain insight into their customer base, reduce costs, increase sales, identify trends, and make decisions confidently.
Gain Customer Insight: Big data can tell a business so much about their consumer. It can tell them what they like to buy and when, how they like to shop, what makes them change products/stores/etc., what makes them recommend a product/business, what consumers are likely to purchase next, and more. Often, this information can be found in sales data and customer logs, but it also can be seen on social media, text, census data, and browser logs as well. This broader information can then be narrowed down to local consumers and the buying patterns of a small business’s geographical location.
Reduce Cost: Big data can help small businesses identify inefficiencies in their operations. This then allows them to adapt and optimize their operations which will ultimately help lower costs.
Increase Sales: One of the key advantages of big data is all the customer insight it holds. This insight then allows shops to adapt their practices and product offerings to capitalize as much as they can on the wants and needs of their target customers, which ultimately will lead to more sales.
Identify Trends: Big data plays a key part in trend analysis. Big data retrieved from social media platforms, online and offline customer behavior, digital text, and external conditions creates a picture of what people buy and when. When these patterns begin to emerge, small businesses can begin to see where trends are moving and react quickly.
Confidently Make Business Decisions: Armed with all the above information, small businesses are able to make data-driven decisions confidently knowing they have the big data to back them up.
“Big data can help small businesses gain insight into their customer base, reduce costs, increase sales, identify trends, and make decisions confidently.”
How can Sunsett.io help your small business manage data?
Simple and easy-to-use tools, like Sunsett.io, are key in helping small businesses utilize big data. Sunsett.io provides an affordable option for small businesses to visualize their data and see their performance updates in real-time.
Inside Sunsett.io, powerful marketing analytics, data visualizations, personalized insights, and team collaboration tools help to save you time, and resources and grow your business. Sunsett’s personalized insights give businesses quick tips and metric suggestions based on your connected platforms and project goals.
Visit Sunsett.io and start a free 7-day trial and see how Sunsett can help you turn your big data into actionable insight and help your small business grow with confidence.
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