Big data doesn’t need to be a daunting challenge for small or midsized business (SMBs). Accessing, storing and exploring big data can be done by businesses of any size. An influx of data from sensors, streaming audio and video log files, web, and social media are increasing the volume, velocity, and variety of data. But that means there are new opportunities for well-prepared SMBs to uncover insights and unlock value.
Harnessing big data – data sets of a size or type is beyond the ability of traditional relational databases to capture, manage, and process the data– will be key when to adopting new technologies such as Artificial Intelligence (AI), machine learning and Internet of Things (IoT).
Better management of big data can help SMBs uncover hidden patterns, correlations and data-driven insights. They can also achieve near- to real-time prescriptive and predictive analytics and analytic decision-making for the future. As a result, SMBs can compete more effectively against both their similarly-sized competitors and the large enterprises already taking advantage of these technologies. And this reality may be closer than many think. While SMBs face unique big data challenges, there’s also a new solution that can help overcome them.
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