In the world of big data, gigabytes are worth less than pennies. But that loose change can add up to dollars for a small business. Those digital mom-and-pop online stores face the same analytical challenge as their gigantic competitors: figuring out who are the best customers and how to sell to them.
Small businesses simply may not have the quantity of data — or the means — to use big data techniques on their own. But they can always hire a solution that helps drive value from “small data”. Methods vary.
Creating big data from small data
Long known for selling email marketing solutions to small businesses, Mailchimp is also a player in big data. The company has its own corps of data scientists, computer scientists and mathematicians, explained David Dewey, Chief Data Science Officer at Mailchimp. “The objective is to bottle ourselves and put it into the product… You gain the capability without hiring the person.” Dewey said. Read more…..
Chart of the Day
Small businesses are finding creative solutions to keep customers shopping at their stories. As they fight to hang on, their corporate competition has seen online sales soar.