Tips on Using Big Data For Small Businesses | Behalf
You’ve likely heard the term “big data” thousands of times, but knowing isn’t enough. The question is: are you taking advantage of big data for small business growth? In this article, we’ll uncover the business benefits of big data.
Understand Customers Better with Big Data for Small Businesses
One of the biggest business benefits of big data is gathering more insights so you can learn more about your customers. For example, these are some questions big data for small businesses can answer:
- At what frequency do customers make repurchases and what is the quantity of their orders?
- Are their purchases usually repeat buys, or do they opt for new merchandise?
Supplementing internal data with big data
Your internal data helps you form an idea of your customer’s buying persona and frequency but there still some gaps in figuring out your customer’s buying potential.
Search engines and social media can provide big data for small businesses where you can learn more about the purchasing patterns and preferences of potential buyers. Quora, keyword tools, LinkedIn or Facebook are great ways to start reaping the business benefits of big data. With a high level analysis of user behavior on the different platforms, you can complete the picture of your buyer’s potential.
Making metrics based decisions
Using big data for small business decisions means decisions are based on facts, not assumptions. The combination of leveraging your internal data with big data helps you understand your customer’s buying preferences and potential, enabling you to stock the right inventory at the right times.