MARKET REPORT Big Data
Making B ig
Data Work
for the SME
The signifi cance of Big Data and Analytics for
productivity improvement became more high profi le in
the business rush towards Digital Transformation DX)
and the achievement of Customer Service Excellence
(CX). As the old adage says, ‘It’s very diffi cult to
manage what you don’t measure’
The global growth in the
volume of data is well
documented but you don’t
have to be a big company
to leverage big data, size does not
count and big is in any case a
highly relative term.
What is more important
for the SME is for them to
recognise that their data
volumes are likely to be growing
at a similar rate to larger
companies, albeit from a smaller
starting position. ey need
to recognise too that there is
tremendous value that can be
mined from that data given the
right tools and management
impetus.
Expanding a business
is a big challenge. It takes
dedication, uncanny foresight
and savvy. If you built that
business from the ground up,
the stakes are even higher.
Nevertheless, success is found
at the intersection of great
business sense and hard work.
Forsyth Alexander, Chief
Storyteller for Watson Analytics
and a 12-year veteran of IBM,
says that successful business
owners know the needs of their
ideal customers.
“ ey know where they are
located. And, they know how
to get the word out there. is
includes collecting and properly
using the data that drives,
informs and incites new action.
is is where business analytics
that o ers self-service data
discovery with data governance
and a touch of predictive and
planning comes in.”
Alexander has identi ed
ways business analytics can help
expand business the data-driven
way. Here she outlines just three
ways.
1. Expansion planning
Let’s say you’re ready to expand
your business and open a
branch, store, restaurant or
o ce in a new location. And
you have a ton of information
about your growing customer
base, equipment or other
asset maintenance, employee
payment and delivery or
distribution scheduling. You
can use it all to build a detailed
expansion plan based on what
you know.
2. Finding your audience
You’ll want to examine your
current customer data to
prepare. But, you should
also research what people are
saying about your company or
brand and in what parts of the
country or region. Business
analytics o ers social media
analysis you can combine with
internal customer data. en,
you take it and create a pro le
of your current and potential
customers. As a result, you can
nd your ideal demographic.
3. Developing your marketing
campaign
With what you’ve learned
about your audience and
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