How Small Businesses Can Use Big Data

“Big data” is targeted information that helps business managers and executives create specific marketing strategies. The insights enable them to plan the direction and goals for their companies and, by assimilating and processing the data, reaching potential consumers more effectively.

Here are four key benefits of using big data: Many think Big data is useful or accessible only to large businesses and multinational conglomerates. In reality, it is a relative term and can be valuable to small businesses ranging from mom-and-pop shops to start-ups to local entrepreneurs. Mark Troester, global product marketing manager of SAS, shares this simple definition for big data: when volume, velocity and variety of data exceed an organization's storage or computing capacity for accurate and timely decision making.