Big Data Could Mean Big Dollars

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Big data analytics is a data solution that can help home Internet businesses organize and analyze vast amounts of varied data at incredibly fast speeds.

It is commonly believed that this technology is only useful to large businesses, but this is not true. In reality, many people are using big data without being aware of it, including small businesses, home business owners and individuals.

If you are using a web analytics tool to monitor your website traffic, you are actually putting big data into action.

Big data analytics can be very valuable to your business, because it enables you to gain new insights that can facilitate better decision-making. However, you need to be able to visualize big data in order to make it work wonders for you.

Here is a look at how big data can mean big dollars for a home business owner….

Benefit from Big Data Analytics

The amount of data accumulated can vary greatly from one home business to another, but you do not need to have a huge amount of data to benefit from big data analytics.

You can cross-reference your data with an ever-expanding sea of information from numerous sources, including government databases, informational websites, social media networks and mobile devices, as well as use a wide variety of tools to perform data analysis.

By utilizing big data analytics, you will be able to obtain information about consumer preferences and trends, website traffic patterns, customer expectations of service quality, new business technology trends, competitors’ activities and others. Such information can help you make better-informed decisions and reduce your risks significantly.

Visualizing Big Data

In order to get the most out of big data, you need to be able to visualize it properly. Different people may perceive big data differently, and you have to visualize it in such a way that everybody will be able to understand your intended message.

According to the article “Visualization for Big Data“, you have to meld data and story together if you want to use data visualization to convince people to take action.

This can be achieved by using abstract elements of different sizes, positions and colors to present information. Make sure that your presentation is well-designed, interactive, user-friendly and easily comprehensible.

There are many tools that you can use to visualize big data, such as pictures, diagrams, infographics, maps and videos. Visualization tools that work for certain data visualization projects may not produce the same results when they are used for other projects.

Some of the things that you should take into consideration when you are choosing big data visualization tools include the objective of the presentation, the type of information that is being presented and your target audience.

Big data analytics is one of the new technologies that are leveling the playing field for small businesses, allowing them to obtain critical business insights that were previously unattainable.

Effective big data visualization can help you gain a significant edge over your competitors and boost your sales and profits.

Photo credit: Image courtesy of Stuart Miles at FreeDigitalPhotos.net

About the Author: John McMalcolm is a freelance writer who writes on a wide range of subjects, from social media marketing to Cloud computing.

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