Big data previous has been utilised by big businesses with much success that has necessitated the small businesses to embrace big data. Big data has become an essential part of businesses and it has been integrated with other factors of production such as hard assets and human capital. Big data comprises of large pools of data, especially concerning the market and consumers. Business owners use this data to carry out analysis of the market and come up with better decisions. Most small business owners tend to pay little attention to big data analytics as a resource. However, there has been an increasing interest in a small business to utilise big data as a resource in building their business models.
How Small Businesses Could Use Big Data Solutions for Their Businesses
Big data is a resource for small businesses to exploit. Every small business owner can expect to benefit from big data analytics in the following ways:
• Helps in making sales funnels that are more efficient. A Sales funnel comprises of the various buying processes that customers are subjected to by a particular company. Efficient sales funnels for small businesses are important since you can use them to direct more visitors to your …