The Internet has given small businesses today many opportunities to reach customers they wouldn’t have been able to twenty years ago. The information your small business can capture from online data is staggering, but it can be a bit overwhelming at times to understand what all the pieces of data mean and how to handle them in context with your advertising campaign. Even harder is tracking big amounts of data, not just for advertising, but the data your company produces. These tips below can help new entrepreneurs as they get started in storing and tracking new data.
Analyzing Your Data-The Big Picture
Data is going to come to you from many different sources. These sources include customer analytics and focus groups and you are going to have to have some order out of the chaos of misplaced and inaccurate information. Big data can give you a clearer picture of your customer. It can also muddy the picture if you’re not careful. A data analysis program can help you see the big picture. You can customize what information you see, what information you can use, and what information you need to store for future use. Small businesses can use the services of a data analyst to set up and determine what information is useful to capture.
Maintaining and Updating Your Data-The Core
There are many software programs available that can help you maintain and update company databases. Your small business has many ways to preserve incoming and outgoing data. Maintaining the data flow of information without compromising your customers’ sensitive information is going to be a challenge. One important concept to remember when handling online information is you should respect your customers’ need for secure and quick access to online information. This means that you should consider having:
- A central location for your data. Multiple sources make it harder for you to access information easily.
- A secure sub-section on your hub for sensitive data and secure portals. Unsecure portals make it easy for hackers to steal information.
- Simple and easy to use platform that you can use to gather information and act on it quickly.
Benefits of Big Data for Your Business
Resources such as accounting software, marketing, and PR software and project management software are a few of the benefits that can be realized with big data. There are eight big data solutions for small business according to Sara Angeles in her article “8 Big Data Solutions for Small Businesses.” These solutions can help you garner information about your customers’ buying habits and utilize them to create a customized solution for your business.
Your small business is going to grow exponentially with the right support. Make sure you know how to handle the data you’re pulling in. Either with a program’s help, professional support, or even a specialist with a data analytics master’s programs degree. When you know how to handle the data coming your way, you can make more headway in your business.
Eileen O’Shanassy is a freelance writer and blogger based out of Flagstaff, AZ. She writes on a variety of topics and loves to research and write. She enjoys baking, biking, and kayaking. Check out her Twitter @eileenoshanassy. Check out data analytics masters programs for more options on new technologies for entrepreneurs.