Big Data does not only include processing of large volumes of data. It also includes the control of a growing number of sources and data formats. The data can be in different formats and files such as internal silos, cloud, attachments in emails, social networks or downloads. They can come in bulk or drop-by-drop.
The common assumption is that big data tools are restricted to the few fortunate organizations with both enormous data centers and extensive resources. However, according to the report, large groups and web heavyweights are not only relying on Big Data solutions, but start-ups and SMEs can also find their accounts worthy.
Small businesses have traditionally shied away from the use of big data and innovation in this field. Standard BI tools giving access to big data is expensive, depend on IT integration, and often require trained professionals to analyze data. However, these solutions are now no longer reserved for large groups.
Among the respondents surveyed, new BI tools emerged during the last two years now insist on their ease of use and reduced cost. In addition, these services provide integrated analysis tools that help small businesses to use and to understand what the big data means to them.
The rise of cloud computing has had a significant impact on Big Data and BI, allowing software to make lighter and reducing the operational costs of companies that market. Rather than simply give their customers the ability to process and analyze data, new tools based on BI helps small businesses to interpret their results. The way in which a Big Data program pays off most lies in how it enables you to quickly answer questions about internal business processes, partners, products, and customers.
The Aberdeen report also explains that companies that have implemented a Big Data program have increased their earnings by 12 percent the following year. In addition, companies with Big Data programs perform 26 percent better than companies that have not sought big data solutions.
The survey also found in-memory technology is helping small business 107 times faster results of analysis of data. Small businesses as well as large, have much to gain from the analysis of Big Data relating to their business using in-memory technology. With the emergence of new BI based tools in the cloud, small businesses now have the means to optimize their operations and use data analysis to monetize their operations.