Big Data is Now Helping Small Businesses to Grow Bigger & Better

In today’s digital era most of the businesses revolve around ‘Data’; be it a big organization or a start up or a small business. Data science helps companies to track their progress as well as pinpoints the places for improvement. Nowadays, it has emerged as a complex interdisciplinary field to grow your business with its statistical as well as productive analysis. It is basically the study of how to manage the huge pool of information of your organization and how to apply them to gain profit in business. In the competitive market, just mere strategy is not good enough especially for small businesses; you need to have foundational logic to make wise decisions to grow your business. 

One of the huge challenges for small businesses is where and how to start with? How to organize the data? Which data should be emphasized on? How to analyze the data to get market review? In most of the cases small business owners don’t possess the idea how to handle data. Here comes the need of professionals who are known as data scientists. The job of a data scientist is one of the most highly paid jobs of 21st Century. The job role includes analyzing data with the purpose of providing a competitive advantage in business or addressing a pressing business problem. A data scientist scrutinizes data from various angles, interprets it, and then suggests ways to apply that data. Small organizations also often look for data architects as the role involves using applied mathematics for creating database systems, constructing storage, and archival systems for information. Data architects also work on improving the data transfer between these systems.

Stand a chance of making a successful career as a data scientist by joining DexLab Analytics data analyst certification. 

Small businesses use data science as a tool to develop their marketing performance. Data science creates the scope for them to view the market from the customer’s point of view. Understanding customer needs and implementation of that in business strategy proves to be effective in the growth of business. Tracking campaign results is a process used by small organizations to monitor website traffic. Take, for example, Alexa or Google analytics: these tools analyze the website ranking as well as user behavior, like, how long a user stays in the company website or how he follows the updates. Companies can also track their social media traffic even on mobile devices.

Small businesses often run through budget constraints. So, various online free tools are available in the market to systemize your data; you can also opt for low price tools to manage your data efficiently. So nowadays, small businesses should certainly emphasize on data science because it will help them to gain useful insights on how to enhance their performance.

If you want to learn the ropes of data science, then you should enroll in the data analyst training institute of DexLab Analytics.

THE BIGGER THE BETTER - BIG DATA

One fine day people realized that it is raining gems and diamonds from the sky and they start looking for a huge container to collect and store it all, but even the biggest physical container is not enough since it is raining everywhere and every time, no one can have all of it alone, so they decide to just collect it in their regular containers and then share and use it.

Since the last few years, and more with the introduction of hand-held devices, valuable data is being generated all around us. Right from health care companies, weather information of the entire world, data from GPS, telecommunication, stock exchange, financial data, data from the satellites, aircrafts to the social networking sites which are a rage these days we are almost generating 1.35 million GB of data every minute. This huge amount of valuable, variety data being generated at a very high speed is termed as "Big Data".

 

This data is of interest to many companies, as it provides statistical advantage in predicting the sales, health epidemic predictions, climatic changes, economic forecasts etc. With the help of Big Data, the health care providers, are able to detect an outbreak of flu, just by number of people in the geography writing on the social media sites "not feeling well.. down with cold !".

Big data was used to locate the missing Malaysian flight "MH370". It was Big Data that helped analyze the million responses and the impact of the very famous TV show "Satyamev Jayate". Big data techniques are being used in neonatal units, to analyze and record the breathing pattern and heartbeats of babies to predict infections even before the symptoms appear.

As they say, when you have a really big hammer, everything becomes a nail. There is not a single field where big data does not give you the edge, however processing of this massive amount of data is a challenge and hence the need of a framework that could store and process data in a distributed manner (the shared regular containers).

Apache Hadoop is an open source framework, developed by Doug Cutting and Mike Cafarella in 2005, written in java for distributed processing and storage of very large data sets on clusters of normal commodity hardware.

It uses data replication for reliability, high speed indexing for faster retrieval of data and is centrally managed by a search server for locating data. Hadoop has HDFS (Hadoop Distributed File System) for the storage of data and MapReduce for parallel processing of this distributed data. To top it all, it is cost effective since it uses commodity hardware only, and is scalable to the extent you require. Hadoop framework is in huge demand by all big companies. It is the handle for the Big hammer!!