What does Big Data mean for your small business?

You’ve probably heard the term ‘big data’ being used by now. In fact, once technology circles latch on to an idea and a neat way to package it under one convenient label it actually then becomes pretty hard to avoid it. If you take even a passing interest in business technology (and let’s face it, if you didn’t you probably wouldn’t be on this site, let alone our blog!) you’ll have noticed that this has definitely become the case with big data.

Put simply, big data is a catch all term for datasets so massive (consisting of both structured and unstructured data) that they can’t be processed by traditional databases and software. It is not necessarily just the size of data that is the problem but also how quickly it changes and grows which results in these datasets simply overwhelming processing capacity.

This poses an obvious challenge for businesses then due to the fact that if an effective strategy for managing and manipulating big data can be established it can offer huge competitive benefits through improved analytics and management information. More so than ever before a business will be able to analyse factors such as operational trends, client needs and general consumer behaviour amongst others before reacting accordingly from a truly informed position. Just having data isn’t valuable, using it is!

Our partners at Sage recently produced an infographic which highlights the impact of big data and why now is the time for organisations large and small to start considering how to make the ever increasing volumes of data produced in the modern business world work for them rather than against them. Some of the key statistics can be found below:

BigData_whyimportantnow BigData-howcompaniesfeel BigData_benefits

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

As these snapshots demonstrate, there are plenty of reasons why your business should be considering the potential impact of big data and how best to manage it. At dcs we continue to assist our clients in achieving the analytic capabilities they require to stay ahead of the game as the amount of data their business systems create and receive grows inexorably. Speak to us to find out more about how your business can access new levels of management information from the Sage 200 and SAP Business One ERP solutions that we specialise in.

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