Having a small business online, your daily goal is to sell and grow profits daily. In spite of having competition, you make it happen on Internet with SEO, Press Release, Google advertising, Facebook advertising and article marketing. While this has been the ongoing process of content strategy and content marketing online, did you that AI (artificial intelligence) and machine learning is almost there for you to help speed up finding customer behavior?
There is a complete transformation in the world of business with Big Data. As known to you, mostly the data comes from emails, images, whatsapp, facebook, twitter and from many other sources of videos.
By 2020, it is estimated that nearly there would be six billion smartphones in the world. The smartphone sensors (GPS) are so powerful that they can quickly track weather, location and even how fast we are moving.
Apart from smartphones, it is also estimated that 50 billion smart devices like fridge, smart TV, watches and even light bulb would be connected to the Internet. This means a variety of data of text and video would grow to an incredible level.
What is Big Data?
"Big data is a term that describes the large volume of data - both structured and unstructured - that inundates a business on a day-to-day basis. But it's not the amount of data that's important. It's what organizations do with the data that matters. Big data can be analyzed for insights that lead to better decisions and strategic business moves" (Source: What is Big Data?SAS)
"Big data is data sets that are so voluminous and complex that traditional data-processing application software are inadequate to deal with them. Big data challenges include capturing data, data storage, data analysis, search, sharing, transfer, visualization, querying, updating, information privay and data source. There are number of concepts associated with big data: originally there were three concepts - volume, variety, velocity." (Source: Wikipedia)
Heard of technology term Internet of Things (IoT)? There is interconnection between Big Data, cloud computing and IoT.
While IoT collects communication and data exchange between smart devices, Big Data acquires the data collection from IoT and other sources and this is followed by cloud computing giving access to the data anywhere in the world and work seamlessly. But here is a question - what would you do with trillions of data? Here comes the job of Artificial Intelligence (AI).
AI uses the data and make predictions for making decisions.
Big Data, IoT, cloud computing and AI are interdependent.
How Big Data Benefits Your Business?
- Handles big volumes of data (terabytes to petabytes)
- Segregates data to the relevance and eliminates data that is irrelevant for your business
- Identifies problems and provides solutions
- Applies Business Intelligence (BI)
- Makes recommendations
- Resolves and fixes problems for efficient business operations
Business sectors that implemented Big Data:
- Manufacturing
- Healthcare
- Information Technology
- Education
- Media
- Government
- Internet of Things (IoT)
- Sports
Top 4 Big Data Tools for your Small Business:
1. IBM Watson
It answers capably all natural language questions.
2. SAS
This is a software suite ideally designed for small business for finding advanced analytics, business intelligence, data management, multi-variations of analysis and predictive analytics.
3. Qualtrics
Qualtrics mainly focuses on employee benefit surveys such as employee satisfaction, benefit assessment etc.,
It provides a complete view of your business and important metrics such as latest trends, new opportunities, sales cycle analysis, employee activities etc.,
Conclusion
Integrating Big Data tools in your small business can start working for you providing most statistical data about customers. Yet another benefit is AI can also help in digital marketing.
39 online trading firms in U.S. for high profitability
39 online trading firms in U.S. for high profitability
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