Although many of the companies that have been successful with Big Data tend to be large corporations, it is also possible for small businesses to take advantage of Big Data. According to market research, it is proven that SMEs can greatly benefit from Big Data and grow due to the solutions offered by Big Data. Moreover, SMEs can easily take actions quicker than larger competitors. It will allow them to get a head start. Let’s look at some of the ways a business can use data analytics.

Security Enhancements

Since more and more businesses are going online and the number of online transactions is increasing rapidly, so is the rate of fraud. There has been a rise in malware attacks and an increase in harmful social engineering attacks. Some businesses have suffered at the hands of hackers. A business reputation can be damaged if customer data is lost due to an attack. This is where Big Data comes into place. It allows companies to successfully implement software that is able to protect sensitive information as multiple technologies are leveraged to offer greater security. This is done through speech recognition, natural language processing, video recognition, automation, and machine learning.

Data Sharing

Although businesses need to have sufficient information to create a product, at the same time, it is not possible to access data without heading to the market by offering a product in the first place. However, Big Data helps speed up the innovation process and reduces the time period for a business to launch a product in the market. Big Data makes data sharing a possibility. It allows businesses to connect their datasets to find innovative insights. The best way to take advantage of data sharing is by encouraging users to voluntarily share data by seeking consent and providing an incentive in the form of discounts and etc. Now, it is crucial to keep the information safe which is also possible with the help of Big Data. 

Human Resources

A business is just as good as its employees. This is a common statement among businesses. It is the human resources management that has to be able to serve the needs of the business. This is where personnel data analytics comes into place. It is an efficient tool used by HR personnel to aid in decision making related to hiring and other operations of HR. 

Unlike in the past where companies simply relied on resume keywords for shortlisting candidates, it has been proven that it is not as efficient because there are many more factors that need to be considered before someone is hired. These factors go beyond the resume. AI programs that are data-driven allow businesses to quickly evaluate skill sets, experience, education, social media activity, geography, background checks, certifications, job titles, and other parameters to effectively identify which candidate meets the requirements of the position. With the help of such an intensive process, it is obvious that the quality of staff would also increase. This would result in greater profitability and efficiency of a business. 

If you want your organization to use Big Data effectively, then you need to hire NextBee as we have all that it takes to help you out. Our team has a vast experience of over 10 years in the field of technology and technology-related solutions.