Big data refers to information that is too large, complex, or fast for traditional data processing methods. Your company can use big data to solve key problems, strengthen its cybersecurity, and plan an effective data and analytics strategy. Today’s most popular big data solutions include Qualtrics, SAS, and Google Analytics.
It is difficult to ignore all the big data talk. With actionable information at your disposal, Companies can market more efficiently to customers and design and produce products more effectively. These solutions can be tailored to meet your specific needs, increase revenue, reduce costs, improve forecast accuracy, manage inventory better, and streamline operations.
But is your business afford to take advantage of it?
Small businesses must have the same tools that larger companies use to be successful in today’s market. Small businesses may not have the same resources as larger corporations, such as data analysts, researchers, and data scientists. There are many ways that your small business can collect, analyze, and make sense of data you already have, as well as gain additional insights to help level the playing field. We have compiled eight big data solutions for small businesses. But first, learn the basics and importance of big data.
What is big data?
Big data refers to information that is too big or complex to be processed using traditional data processing methods. This definition can be better understood by looking at the three V’s in big data:
- Large amounts of unstructured data, such as Twitter data streams, can sometimes take up terabytes to petabytes. A Word document, for comparison, can take up a few dozen megabytes.
- Businesses receive more data from the internet, which means they require more processing power.
- Consider the variety of extensions in your files – MP4, HTML, DOC, and more. Your data will be more diverse with the more extensions you have.
Also read: Top 10 Easy Data Analysis Methods and Techniques
Value of big data for business
Businesses can benefit from big data because it allows them to:
- Find out the root causes of problems, failures, and defects quickly.
- Based on customer buying habits, instantly create coupons at the point of sale
- Rapidly recalculate your entire risk portfolio.
- Before the worst happens, identify fraudulent and malicious cyberactivity.
- Inform your entire data and analytics strategy.
- We’ll show you how big data solutions today can help achieve these goals.
8 big data solutions and how they work
These are the most popular big data solutions of today:
A small business does not have to be a hindrance in obtaining market intelligence and business intelligence. SAS is a leader in business analytics software and services, dating back to 1976.SAS converts your data into insights that inform decision-making and provide a fresh view of your business. It doesn’t matter if it is a small, medium, or large company.
SMBs face many of the same problems as large corporations. SAS’ simple-to-use analytics and automated forecasting allow businesses to do more with fewer resources. These analytics enable companies to overcome obstacles and grow and compete. SAS’ message for SMBs is clear: “Identity what’s successful.” Find out what’s not working. Discover new opportunities. Contact SAS to get more information and pricing. Also, learn more about SAS’ free software trials.
Complex business intelligence analysis doesn’t need to be difficult. Alteryx provides advanced data mining and analytics tools but also makes it easy to understand the information.
Alteryx is a tool that combines the internal data of your company with publicly available information in order to help you make a better business decision. You can create interactive visuals and storylines from these insights via the dashboard. You can also use collaboration tools to facilitate team discussion.
Alteryx provides business data as well as department-specific data such as sales, marketing, operations, and customer analytics. It also provides data for a variety of industries such as media, entertainment, retail, food and beverages, media and financial services, manufacturing and consumer packaged goods, healthcare, and pharmaceuticals. For pricing information, contact the company.
Are you looking to improve your marketing ROI? Kissmetrics allows you to segment, understand, and engage customers based on their behavior.
Kissmetrics allows you to create, manage and automate email campaigns and single-shot emails based on customer behavior. This platform can measure campaign impact beyond clicks and opens. Kissmetrics for E-Commerce was also launched by the company. It is designed to improve your Facebook and Instagram ROI, decrease cart abandonment rates and drive more repeat sales.
You can use Kissmetrics to access online training and educational resources that will help you improve your marketing campaigns. This includes marketing webinars, articles, and how-to guides. You will be assigned a customer success representative to assist you for the first 60 days. This person will also provide strategic guidance to ensure you get the most from the platform. Plans start at $300 per Month
Also read: Top 10 Business Analytics Tools for Business
InsightSquared saves you the time of manually mining and then analyzing your data with spreadsheets one after another. InsightSquared connects with popular business solutions that you may already use, such as Salesforce and QuickBooks. This allows you to automatically collect data and extract useful information.
InsightSquared, for example, can use data from CRM to provide rich sales intelligence such as pipeline forecasting and tracking, lead generation, profitability analysis, and activity monitoring. You can also use it to identify trends and strengths and weaknesses as well as sales team wins or losses.
InsightSquared also offers a suite of products that include financial, marketing, and staff support. It also has custom reporting, which allows you to slice and report data from any source, in any way, you want. InsightSquared provides a free trial and offers flexible and scalable service plans. For pricing information, contact InsightSquared
5. Google Analytics
To begin collecting data, you don’t necessarily need expensive software. You can begin with an asset that you already own – your website. Google Analytics, Google’s digital analytics platform for small businesses, allows you to examine website data from all points in one place.
Google Analytics, You can also extract long-term data to reveal patterns and other valuable information so you can make data-driven, wise decisions. You can track and analyze visitor behavior, such as the origin of the traffic. How audiences interact with your site and how long they stay there (referred to as your bounce rate). You can make better decisions in order to achieve your online store’s goals.
You can also analyze your social media traffic to help you make adjustments to your social media marketing campaigns depending on what is working and what isn’t. You can learn more about your customers by studying mobile visitors your site can be accessed on mobile devices to provide a better mobile experience.
6. IBM Cognos Analytics
Many big data solutions are designed for highly skilled data scientists and analysts. IBM’s Cognos Analytics makes advanced, predictive business analytics accessible to small businesses. It doesn’t require you to be an expert in complex data mining or analysis systems. Instead, it automates the process. The self-service analytics platform includes data refinement, data storage, and data access services. This gives you the ability to present and prepare data in an easy and useful way that will help guide your decisions.
IBM Cognos Analytics combines all of your data analysis projects into one platform, unlike other analytics solutions that are focused on a specific area of business. It can be used for any type of data analysis including sales, marketing, finance, and human resources. The “natural language” technology allows you to identify problems and recognize patterns. This helps you gain meaningful insights to answer key queries such as what drives sales, how employees are happy, and which deals are most likely to close. For pricing information, contact IBM
Credit card transactions contain a wealth of valuable data. It is not a secret. Tranzlogic, a customer intelligence company, makes this information accessible to small businesses without a large business budget.
Tranzlogic partners with payment systems and merchants to extract and analyze credit card transactions. This information can be used to evaluate your sales performance, analyze your customer segments, launch more effective marketing programs, create better business plans, and make smart business decisions.
Tranzlogic does not require any technical knowledge to get started. Tranzlogic is a turnkey program that requires no programming or installation. Log in to access the merchant portal. For pricing information, contact Tranzlogic
Research may be your answer if you don’t have rich data sources. Qualtrics allows you to conduct many studies and surveys in order to get quality insights that will allow you to make data-driven decisions. Qualtrics Experience Management (QualtricsXM) was recently introduced by the company. This application allows you to manage and improve the experiences that your business offers to all stakeholders – customers and prospects, users, partners and suppliers, citizens and students, and even investors.
Qualtrics XM allows you to measure, prioritize, and optimize your experiences across the four core experiences of business: employee, customer, brand, and product experience. Qualtrics also offers real-time insights and survey software. It also provides market research programs, concept testing, advertising testing, concept screening, and concept testing. Qualtrics can help you with exit interviews, employee surveys, and reviews. For pricing information, contact Qualtrics