How Small Businesses Can Tame Big Data Information Management 1 Comment James Jolley James Jolley, director of Ricoh Services strategist, brings 18 years of industry knowledge to the role where he is focused on building strategic intelligence with technology infrastructures. Jolley is Cisco CCNA, CCNP, ACE and ITLL certified. The proliferation of outsourced IT systems has given small and medium sized businesses access to big data solutions – previously available only to enterprise-level companies – that are improving their critical decision making abilities. At its core, big data is the capture, filtering, and management of huge amounts of data that is transformed into an easily useable format. This information then informs ongoing decisions about products, services, logistics, and workflows. The potential benefits are huge. Want to gain insight on how to improve your products? Tap into social networks and listen to what people are saying your product is missing. Looking to find inefficiencies in your logistics operations? Harvest and mine existing internal data that can uncover better ways to organize operations. Need to improve access and indexing of useful institutional knowledge? Digitize and classify the disparate data within your organization through automated processes so workers have data that cuts across silos. Challenges of managing big data The benefits of big data and the results you can expect have been proven time and again. But that doesn’t mean it comes without significant challenges to existing infrastructure. From identifying information sources, storing, archiving, and indexing the data appropriately, and ensuring the proper workflow processes are in place, managing entire process can challenge even the most organized of managers. The cost to businesses is a huge amount of work hours dedicated to ensuring all of the data is organized, secured, and efforts aren’t being duplicated across divisions. The impact of big data on the organization On the front-end, or the forward facing portion of your company that interfaces with customers, the wealth of knowledge that you can gain from big data can inform decision-making processes in your company. This includes background on how and when your products are being used, the specific geographies or demographics in which you can find your customers, and how your customer service is solving issues and generating new revenue. On the back-end, or the logistical side of things, the trends that you can mine from your own historical data can help determine how much inventory to keep on hand or which supply centers are most efficient. These insights can help you harness cost overruns or find cheaper alternatives to moving product from A to B. But just having more data isn’t a solution in itself. You need to have more intelligent data and processes as well. Whether it’s looking at outsourcing your big data or business process needs to specialized organizations, or simply getting some help on retaining digital records so everything is easily searchable, you will have to engineer new workflow processes to manage the influx of data. The next task will be to build or implement a system that can retrieve the indexed data and make sense of the trends that will emerge. After these workflow processes have been implemented to actually harness the data, only then will you be able to use this data to justify your decisions and take full advantage of what big data can bring to your business. It all starts by optimizing your critical business information. Tags big data, business growth, information management Subscribe to the Newsletter Subscribe to our newsletter to get all the latest news & information from WorkIntelligent.ly. Email* Related Posts Small Business Cloud Migration: Where to Begin How Ransomware Seizes Your Business Contextualizing Big Data for the Everyday Business Leave a Reply Cancel reply Your email address will not be published. Required fields are marked * Name * Email * Website Comment Current ye@r * Leave this field empty Alleli Aspili November 25, 2013 at 1:29 am Here’s another related to this: http://www.blog.infinit-o.com/5-benefits-small-businesses-can-gain-from-big-data/ Some professionals actually think that the usage of Big Data only benefits large companies, but that isn’t totally right. Small businesses and start-ups actually can get the most out of it!