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How Big Data Can Help in Upgrading a Small Business

By SiliconIndia   |   Thursday, 15 November 2012, 06:53 Hrs
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Bangalore: Today businesses run on databases. Large businesses give ads and take the help of other media available to market their products. But small businesses have to start small with their limited quantity of customer data. It's important for a small business firm to know about their average orders and the sales from discount programs.
 
Business intelligence is a relatively new field, as written by Charles Costa on smallbiztechnology.com, which allows businesses to collect, maintain, and organize knowledge pertaining to virtually any field imaginable. Samples of data commonly collected by businesses are:  browsing history, purchasing history of customers, statistics on website visitor activity on websites, and anything where data can be logged and tallied.

Unlike big businesses, small businesses can use their data base differently to make it big, if they use it in the right way. The first step to start this process is to begin by analyzing the data of your business properly. According to Minda Zetlin on inc.com, here are some points about how marketers create value out of online advertising-

1. Calculate the data: find out how many people visited the website

2. Measure which pages have had the longest visits

3. Check the path which the customers have taken to visit their site

4. Measure the speed of the page load of their website

5. Give importance to good customers

As small business owners have started using new social media sites to market their business and are open to using whatever new site comes in the market. Destiny Bennet, wrote in agbeat.com that there are some BI options available for small business owners to analyze the data the owners collect. Some of the tools are mentioned below-

1. PivotLink- a company that specializes in cloud computing, allowing users to analyze data that’s been transported from on-premises to the cloud for storage and processing.

2. Tableau Desktop- this tool allows users to visualize data through its interactive dashboards created from dragging, dropping, and connecting selected data points. By looking at this information graphically, one can easily spot trends.

3. Yurbi- it offers real-time access to data. The system automatically knows to start the next step, rather than manually scheduling the next step allowing for a seamless integration of all of your data.

4. Square- is familiar with small business owners, it allowing staff to swipe and process credit card payments on a phone or tablet. This system also allows the staff to instantly measure hour-by-hour sales and which items are selling the most.


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