Big data a big problem for small businesses
Big data is not just a trend that larger companies have to address. Small and medium-sized businesses are also feeling the pressure of managing the influx of structured and unstructured data they are now mass-producing.
If managed effectively, big data can be a huge competitive advantage, enabling businesses to leverage a wealth of information to benefit decision-making processes. However, according to a new study from market research firm Techaisle, many SMBs are struggling to cope with the emergence of big data.
In a survey of more than 800 SMBs, 34 percent of midsize companies said they planned to adopt big data analytics. Meanwhile, only 12 percent of smaller firms said the same. Techaisle noted that a lack of expertise may be the main contributor to this lack of adoption.
This does not mean SMBs are uninterested in big data analytics. On the contrary, many companies are looking for third parties to help them leverage the insight that can be found in big data and apply it to their specific verticals and industries.
Several experts have pointed to big data as the next frontier of innovation, affording those companies that manage it well significant competitive advantages. This is a trend that will be felt across industries, and businesses can help themselves by preparing for big data sooner rather than later.