WHY BET ON BIG DATA FOR YOUR COMPANY

Big Data is already a key element, and in the coming years, it will be much more for the development of companies and the culmination of digital transformation processes. The value and importance of the data is already considered the new ‘oil’ for business, but is this technology only aimed at large companies or does it also have a place in SMEs?

The opinion of the experts supports both the knowledge of Big Data processes and its application to all types of businesses (adapting it, of course, to the needs and volume of data handled). In this sense, Big Data Marketing is becoming the spearhead for the development and application of the advantages of Big Data to all types of sectors.

What are the keys to success before betting on a Big Data strategy in your company? In summary form we can indicate these:

Understand that technology is already essential for any company and that any business should bet on it. We do not talk as much about applying a Big Data strategy as about the importance of knowing how the new tools can help us grow. You have to think digitally and become familiar with technologies such as the Cloud, free software platforms, collaborative models …

Closely related to the previous point, we must bear in mind that technology such as Big Data will completely change the company’s relationships with its customers and with other companies. The new technologies allow access to other sectors of activity and, also, promote a new relationship with companies or entrepreneurial projects of third parties, which implies opening our business to new models of collaboration and marketing.

The seek for these new business models is indispensable in the Digital Economy. In this sense, Big Data is key because of the analysis of data and trends, valuable conclusions can be drawn to anticipate new trends and opportunities that, otherwise, it would be very complicated to anticipate. Innovation is one of the pillars of Digital Transformation, and Big Data is the technology that supports this foundation.

SMALL DATA STRATEGY: SMALL SOLUTIONS IN THE BIG DATA ERA

The new trend is called Small Data strategy and is based on the saying that sometimes, less is more. Although its name may lead to error, the differences between Small Data and Big Data are not as significant as the name suggests.

Keys to a Small Data strategy

So, what are we left with Small Data or Big Data? The answer goes through a combination of both. As the experts say, a Small Data strategy relies on many of the Big Data tools, but only takes those data that interest you, and that can directly affect the decision making that you have to face on the day.

In this context, the importance of less is more emphasized. We can have many data analysis tools and trends, but if you do not know how to use or do not know precisely what information is giving us the effort is useless. Therefore, the first key is to select the tools that most interest us and that we know how to interpret.

To this key, we must add that a Small Data strategy has as a reference the human factor, the direct deal and the relationship with the client to try to find out what the trends are, the possible complaints or what improvements we can incorporate to the brand or the service. The second key is the active listening of the user to make decisions.

With the data that interests us and supported by the real opinion of the users, the third key to a Small Data strategy is to apply this information and turn it into a testbed in both communication and services offered by our brand. From there, the fourth key, as everything that has to do with the digital environment, involves measuring the results and checking if these respond to our expectations.

Benefits and tools of a Small Data strategy

Based on these keys, from the point of view of our business, the interests of a Small Data strategy basically lie in:

Take advantage of and employ the Big Data analysis tools in a practical way.

Maintain a much more direct relationship with the client, whose opinion we have much more in mind.

 Make decisions quickly based on that active listening with the user.

Put a solid foundation for the marketing strategy in the digital environment.

Continue advancing in the interpretation of data to incorporate new options.