If you’re still saying, “Big data isn’t relevant to my company,” you’re missing the boat.
I firmly believe that big data and its implications will affect every single business — from Fortune 500 enterprises to mom and pop companies— and change how we do business, inside and out.
It doesn’t matter what field you operate in or the size of your business; as data collection, analysis, and interpretation become more readily accessible, they will have an impact on every business in several important ways.
1. Data will become an asset to every business.
Even the smallest businesses generate data these days. If the business has a website, a social media presence, accepts credit cards etc., even a one-person shop has data it can collect on its customers, its user experience, web traffic, and more. This means companies of all sizes need a strategy for big data and a plan of how to collect, uses, and protect it. This also means that savvy businesses will start to offer data services to even very small companies.
It also means that businesses and industries that never thought big data would be “for them” might be scrambling to catch up. Let me just make this as plain as possible: If you own or operate a business, and you have questions about how to improve that business, you have data, your data is an asset, and it can be used to improve your business. Simple as that.
2. Big data will enable companies to collect better market and customer intelligence.
Like it or not, the companies you do business with know a lot about you — and the quantity and diversity of what they know about you is increasing every year. Every company (from car manufactures who will monitor our driving to tennis racket manufacturers that know how often and how well we play) will get much better insights into what customers want, what they will use, what channels they use to buy, and so on.