Written by Molly Luxem, Marketing Assistant

Typically, "Big Data" is a term used by researchers and enterprises, but no industry is unaffected by the value of big data. As more content is being created than ever before, companies are now leveraging compiled data in order to make more knowledgeable business choices. Chances are that if you're paying for an online social media marketing tool or sales workflow computerization (aka "Software as a Service" or "SaaS"), that you're implementing the aids that compose big data (Machine learning, Neural networks, AI, data lakes, etc). In other words, the importance is not how much data you have, but how you use it.

The numerous online data analytics tools offered can make deciding on a service overwhelming, which is why it's important to identify where your business could make the most substantial improvements. Thanks to the cost-effectiveness and practicality of analytics tools like Crunchboards and Microsoft Power BI, what used to only be accessible to large operations is now conveniently available to small business owners. With Microsoft Power BI, business owners can create customized dashboards and reports, as well as oversee their entire business on one dashboard. They can implement essential data from all the apps they depend on including cloud accounting software, CRM software and web analytics tools.

As more associations invest in these technologies, the cost decreases and skill increases. That means as big data becomes more common and custom applications become simpler to use, you could potentially alter your business strategy. Rather than hiring a service to manage your sales, you could produce your own sales solution using the many online services that empower organizations to generate what they need for their business.

 


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Published with permission from TechAdvisory.org. Source.