Is Data still Daunting?

Big data can help you make informed decisions as you operate day to day in your small business. It can be scary to get started and learn how to properly leverage the information, but big data is no longer the costly information that could only be found in complex databases.

Contrary to popular belief, big data is not beyond the reach of a small business owner. It can and it does provide the same advantages and opportunities for small businesses as it does for giant corporations like Facebook and Google.

We invited Matthew Jackson, Director of SBDCNet, on our Mindshare Monday episode to explain why big data is so important and the advantages it serves.

“As an entrepreneur and as a business owner, your success depends on the combination of data, instinct, and experience. You know what your gut tells you about the market, you know what your experience tells you about what’s right to do, but you also need information and facts to help inform your instinct and experience…”

Use Big Data for Better Business Decisions

Small businesses have the advantage of being able to act quickly and efficiently on data-driven insights than their bigger counterparts. Quality data can help an average small business grow, develop and advance into a successful business model. Here is what you can do with Big Data:

  • Understand your customers
  • Identify industry trends
  • Track your competition
  • Improve everyday operations
  • Recruit and manage talent
  • and more!

Where Can I Find Big Data?

There are many affordable and data-crunching services available in the market today. One of them is SBDCNet. It provides market research services to the entire Small Business Development Center (SBDC) network nationwide. In partnership with a local SBDC, SBDCNet can produce a broad range of financial, market and demographic research reports that are free of charge to prospective or existing small business owners who are receiving advisory services from their local SBDC Consultant.

 

To learn more about how you can use SBDCNet and what Big Data can do for your business, watch our latest episode of Mindshare Monday here.