• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • Facebook
  • Instagram
  • LinkedIn
  • Twitter
  • YouTube
Big Ideas for Small Business logo

Barbara Weltman

Big Ideas for Small Business, Inc.

Whitepaper download

Subscribe and download our eBook, "150+ Tax Deductions for Small Business A to Z."

This field is hidden when viewing the form
Get the:

  • Home
  • About Us
  • Big Ideas For Your Business
    • Idea Of The Day ®
    • SMB Legal
    • SMB Taxes
    • SMB Financial
    • Small Business
    • Newsletter Archive
  • Services
  • Books
  • Blog
  • Multimedia
    • Videos
    • Radio Shows/Podcasts
  • Be a Guest Blogger

Big Data and Small Business

October 3, 2017 / By Barbara Weltman

According to Dictionary.com, big data is consists of “billions or trillions of records that are so vast and complex that they require new and powerful computational resources to process.”  Big data can be analyzed to more efficiently target customers, optimize your supply chain, improve manufacturing efficiency, and increase product innovation. In fact, according to IDBS (see the infographic), 29% of companies that have already used big data say it helps create new revenue. What does big data mean to small businesses?

What can big data do for small businesses?

Small companies have the data sets for big data; they just need to use the information. Here are some ways that big data can help your business:

  • Learn more about your customers. Data analysis of your company’s data, including social media posts, and public information, such as census data, can help you understand customer preferences. This can enable you to tailor your products/services offerings and how you sell to customers.
  • Get ahead of the curve. Big data can help to predict trends you need to know by analyzing topics on social media, economic conditions, and other relevant public information. Then you can use this information to move your company in directions that can profit from trends.
  • Become more efficient. Big data can be used to improve your day-to-day operations, such as optimizing your supply chain.

How can small businesses proceed?

To analyze your data in order to learn what you can do to grow your business, you need technology. But don’t feel overwhelmed by this.

  • Recognize that you already have the data. If you’ve been in business for more than one year, your QuickBooks record of sales, pricing, and other information is a good part of your big data. Other data on the weather, economic conditions, consumer spending habits, and other sales-impacting information is available online
  • Determine your technology budget. Now that we’re in the final quarter of this year, it’s time to plan your budget for the coming year. Decide how much you can afford to invest in new technology. IDBS found that 36% of businesses are investing or planning to invest in technology for big data.
  • Do your research. Identify the technology solutions that will enable you to analyze your date. This may be add-ons to your existing software or cloud-based solutions. You can also use Google Analytics, a free service, to help you examine your web traffic. You may want to use a variety of solutions for optimizing big data.
  • Turn to experts. At a loss on how to proceed? IT consultants can advise you on what’s needed for your big data. Alternatively, if you’ve identified a particular question you want big data to answer, you can use experts to do the work for you. Also consider using a company such as IDBS that can help store business data.

Conclusion

Don’t let the word “big” scare you into believing that big data is only for large corporations. Small businesses have the data, can easily obtain the analytic tools, and can utilize the results to grow. Position yourself now to start using big data. And follow the conversation with IDBS on big data and small business at #NurturingData.
Big Data and Small Business - IDBS Infographic
This post was created in collaboration with IDBS, a supplier of cloud-based technology that is able to store and process big data. All opinions expressed in the post are my own and not those of IDBS.

Tags big data cloud-based technology small business

Primary Sidebar

Categories

  • General Business (493)
  • Guest Blog (106)
  • Homepage (21)
  • Small Business (981)
  • SMB Financial (320)
  • SMB Legal (64)
  • SMB Taxes (324)

Barbara’s Recent Posts

  • Moms Know Best: Lessons for Entrepreneurs May 8, 2025
  • Mental Health Challenges in the Workplace May 6, 2025
  • Let’s Celebrate Small Business! May 1, 2025
  • Scaling Your Business: Adding a New State Location April 29, 2025
  • What to Do about Waste Management in Your Warehouse April 28, 2025
  • Restrooms: Not Front Office but Just as Important April 25, 2025
  • Eye Strain: A Workplace Problem to Address April 24, 2025
  • What to Do When You Can’t Get Approved for a Business Loan April 23, 2025
  • A Good Time to Review Your Company’s Driving Policy April 22, 2025
  • Learning New Ways for Spring Cleaning Your Business April 17, 2025
  • How to Build Anticipation for an Upcoming Product Release April 16, 2025
  • Proposals for Better Tax Rules for Small Businesses April 15, 2025
Awarded Top 100 Small Business Blog medal (link will open in a new window or tab)
Marquis Who's Who 2023 Badge
Top Small Business Blogs (Link will open in a new window or tab.)
8 Financial blogs small business Owners Need to Read. Invoice home.  (link will open in a new window or tab)
Best Small Business Blog, Expertido.org
Top 50 Small Business Blogs 2018
Best Small Business Blogs
BizHumm Top 100 Business Blog Award to Barbara Weltman
FitsSmallBusiness.com: Award for Best Small Business Blog 2017 (link will open in a new window or tab)
FitsSmallBusiness.com: Award for Best Small Business Blog 2016 (link will open in a new window or tab)

Footer

Big Ideas for Small Business logo

Small business ideas, business tax news and small business consulting from Barbara Weltman to provide business owners with the information they need to succeed. Visit our small business blog, Idea of The Day®, small business books and articles on small business taxes, small business finance and small business legal advice.

Contact Us

[email protected]

(772) 492-9593

gacor maxwin situs slot thailand terpercaya situs slot gacor situs gacor akun pro thailand slot bandar togel terpercaya

Latest Tweets

bigideas4sb Big Ideas for Small Business® @bigideas4sb ·
February 17

The Art and Science of Building: Exploring the Intersection of Architectural and Engineering Design https://bit.ly/40Qt0P6 #smallbusiness #design

Reply on Twitter 1891632577175253217 Retweet on Twitter 1891632577175253217 Like on Twitter 1891632577175253217 3 Twitter 1891632577175253217
bigideas4sb Big Ideas for Small Business® @bigideas4sb ·
February 17

4 Crucial Errors in Your Compliance Approach to Hiring - HR Daily Advisor https://bit.ly/4jQCcvQ #smallbusiness #hiring #compliance

Reply on Twitter 1891586740189585747 Retweet on Twitter 1891586740189585747 Like on Twitter 1891586740189585747 Twitter 1891586740189585747
bigideas4sb Big Ideas for Small Business® @bigideas4sb ·
February 17

Is Romance Back in the Office? Is this a good or bad thing?https://bit.ly/3D1Hx2x #smallbusiness #ValentinesDay #workplace #officepolicy

Reply on Twitter 1891567067897168123 Retweet on Twitter 1891567067897168123 Like on Twitter 1891567067897168123 1 Twitter 1891567067897168123
Load More

Copyright © 2008–2025 Big Ideas for Small Business, Inc  |  Designed by Hudson Fusion

  • Privacy Policy
  • Sitemap