Call Us Today!302-652-3370|Client Login| info@ssdel.com
SSD Technology Partners|Managed IT Services Logo SSD Technology Partners|Managed IT Services Retina Logo SSD Technology Partners|Managed IT Services Mobile Logo SSD Technology Partners|Managed IT Services Mobile Retina Logo
  • Who we serve
    • Law Firms
    • Healthcare
    • Financial Services
    • Nonprofit & Associations
    • Other Industries
  • IT Solutions
    • Unlimited Support
    • Cybersecurity
    • Managed Services
    • Consulting Services
    • Software Development
  • Our Approach
    • Your IT Team
    • Onboarding Process
    • Best Practices
  • About Us
    • Our Story
    • Executive Leadership
    • Our Team
    • Community
    • Careers
  • Blog
  • Contact Us

Why Small Businesses Are Investing in Data Analytics

Home/Posts/Big Data, Data Analytics, SMB Strategies/Why Small Businesses Are Investing in Data Analytics
Previous Next
  • View Larger Image

Why Small Businesses Are Investing in Data Analytics

“Big data” is a term that first appeared in the late 1990s and began to pick up steam in the early 2000s – long before growing numbers of mobile devices and Internet-connected objects caused the current spike in data volume. Of course, attempts to quantify the growth rate of data date back at least to the 1960s when it was called the “information explosion.” Those folks could not have imagined how big the explosion would be!

Today, big data includes the vast amount of structured and unstructured data that are constantly produced and stored in a business IT environment. While big data was originally thought to be a problem from a storage standpoint, the conversation has changed to focus on the potential value of big data. This value lies in the business insights that can be gained through historical and real-time analysis of big data.

Data analytics refers to the qualitative and quantitative techniques used to examine large data sets for the purpose of identifying patterns and drawing conclusions. These insights are then used to inform decision-making about business strategies, operations, product development and the customer experience. For example:

  • Retailers analyze shopper behavior and purchasing patterns to improve in-store merchandising and promotions and maintain optimal inventory levels.
  • Healthcare institutions analyze data from medical devices to monitor patient conditions and identify warning signs of health issues.
  • Manufacturers use data analytics to schedule proactive equipment maintenance, optimize operations and reduce the risk of injury.
  • Banks and financial services companies rely on data to prevent and detect fraud, assess risk, and improve contact center efficiency and outcomes.
  • Utilities use data gathered from smart meters to measure energy consumption levels and better understand how energy is being used.

Large enterprises in these and other industries have been using data analytics for years to identify and exploit new revenue streams and improve operational efficiency. Like many IT innovations, big data analytics solutions are now making their way to small and midsize businesses (SMBs). Not only have prices for these solutions continued to drop, but more smaller companies are becoming familiar with the uses cases. Also, SMBs tend to be more agile than large enterprises, making it easier to quickly act upon big data insights instead of having initiatives stalled due to red tape.

The key for SMBs when implementing a data analytics solution is to start small. Identify a specific problem, a desired outcome, and a strategy for using data analytics to solve the problem and achieve the optimal outcome. Keep in mind that you don’t have to install a complex network of sensors to use data analytics. There is plenty of data to analyze from desktop and mobile devices, business applications, internal and external communications, social media and other data sources. Once big data analytics has been successfully applied to a single use case and you’ve become comfortable using the tools, it becomes easier to expand to new use cases.

Data analytics is no longer reserved for enterprises. With the right approach, SMBs can overcome the complexity of big data and turn it from a storage problem into a strategic advantage.

By The SSD Team| 2017-08-23T12:31:06+00:00 December 22nd, 2016|Big Data, Data Analytics, SMB Strategies|0 Comments

Share This Story, Choose Your Platform!

FacebookTwitterLinkedinRedditTumblrGoogle+PinterestVkEmail

About the Author: The SSD Team

Related Posts

  • Why Nonprofits Are Targets for Hackers and What You Should Do About It
    Why Nonprofits Are Targets for Hackers and What You Should Do About It
    Gallery

    Why Nonprofits Are Targets for Hackers and What You Should Do About It

  • Why Business Acumen Is as Important as IT Skills
    Why Business Acumen Is as Important as IT Skills
    Gallery

    Why Business Acumen Is as Important as IT Skills

  • Employee Onboarding Can Set the Stage for Success
    Employee Onboarding Can Set the Stage for Success
    Gallery

    Employee Onboarding Can Set the Stage for Success

  • Staying Healthy and Productive During Flu Season
    Staying Healthy and Productive During Flu Season
    Gallery

    Staying Healthy and Productive During Flu Season

  • Does It Make Sense to Migrate Your Applications to the Cloud?
    Does It Make Sense to Migrate Your Applications to the Cloud?
    Gallery

    Does It Make Sense to Migrate Your Applications to the Cloud?

Leave A Comment Cancel reply

Subscribe to Email Updates

Recent Posts

  • Why a Windows 10 Upgrade Makes the Most Sense for Windows 7 Users
  • New Research Paints an Ugly Picture of Endpoint Security
  • Why Nonprofits Are Targets for Hackers and What You Should Do About It
  • 5 Questions to Ask When Considering Custom App Development
  • SaaS or Custom App? How to Choose the Right Model

Posts By Topics

  • Artificial Intelligence (1)
  • Backup Recovery (6)
  • Big Data (3)
  • Business Continuity (3)
  • BYOD (6)
  • Cloud computing (21)
  • Collaboration (7)
    • Customer-Centric (1)
  • Custom Application Development (10)
  • Cyber Security (58)
  • Data Analytics (2)
  • Data Governance (2)
  • Data Storage (3)
  • Digital Transformation (2)
  • Disaster Recovery (2)
  • Email (3)
  • Internet Security (56)
  • IT budgeting and planning (21)
  • IT Management (26)
  • IT Outsourcing (4)
  • IT Security (74)
  • IT Services (15)
  • Managed Services (38)
  • Mobility (7)
  • Network Infrastructure (8)
  • Regulatory Compliance (4)
  • Security (77)
  • SMB Strategies (28)
  • Software Development (3)
  • Software-as-a-service (3)
  • Storage (1)
  • Technology (9)
  • Uncategorized (9)
  • Unified Communications (2)
  • Videos (3)
  • Virtualization (1)
  • VoIP (2)
  • Wi-Fi (5)
  • WLAN (1)

Contact Us

1024 Justison Street
Wilmington, DE 19801

Phone: 302-652-3370

Fax: 302-652-4591

Email: sales@ssdel.com

SSD Technology Partners

Since all businesses have different needs, our IT Consulting professionals can provide unique IT Solutions to fit the specific needs of your organization. Whether it is Managed IT Services, Software Development, Security Services or Cloud Computing, we are driven to provide superior service to give you the freedom to focus on the core purpose of your business.

Recent Posts

  • Why a Windows 10 Upgrade Makes the Most Sense for Windows 7 Users
  • New Research Paints an Ugly Picture of Endpoint Security
  • Why Nonprofits Are Targets for Hackers and What You Should Do About It
  • 5 Questions to Ask When Considering Custom App Development
  • SaaS or Custom App? How to Choose the Right Model

Recent Tweets

  • Most passwords are ineffective at preventing unauthorized access. Here are tips for improved password management.… twitter.com/i/web/status/1…

    20 hours ago
  • Mixing on-premises and cloud services can be challenging. Here’s how to ensure the success of your hybrid #cloud.… twitter.com/i/web/status/1…

    22 hours ago
  • Does your wireless network deliver the performance and capacity you need? Proper planning, management and troublesh… twitter.com/i/web/status/1…

    2 days ago

Categories

  • Artificial Intelligence
  • Backup Recovery
  • Big Data
  • Business Continuity
  • BYOD
  • Cloud computing
  • Collaboration
  • Custom Application Development
  • Customer-Centric
  • Cyber Security
  • Data Analytics
  • Data Governance
  • Data Storage
  • Digital Transformation
  • Disaster Recovery
  • Email
  • Internet Security
  • IT budgeting and planning
  • IT Management
  • IT Outsourcing
  • IT Security
  • IT Services
  • Managed Services
  • Mobility
  • Network Infrastructure
  • Regulatory Compliance
  • Security
  • SMB Strategies
  • Software Development
  • Software-as-a-service
  • Storage
  • Technology
  • Uncategorized
  • Unified Communications
  • Videos
  • Virtualization
  • VoIP
  • Wi-Fi
  • WLAN

Subcribe Now

Copyright 2015 - 2017 SSD Technology Partners - 1024 Justison Street, Wilmington, DE 19801 Phone: 302-652-3370
| Site Maintained by Skillful Antics
FacebookLinkedinTwitter