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How Startups Can Use Big Data To Their Advantage

Randy RayessRandy Rayess

Big data is a growing trend these days and is steadily gaining popularity outside of the business giants. There is a valid reason for this as it allows much deeper insight into the data than was previously imaginable. These insights give the power to the organisation, both big and small, which decides their very existence in the market as well as the apt utilization of their resources – the ability to make well informed decisions.

Still, startups are refraining from using big data for their growth. There might be various reasons for their intimidation of the very prospect – the seemingly terabytes or petabytes of data to develop a big data strategy, the costly big data solution which is far beyond their reach to process the mountains of data and get the valuable information, the technical competencies required and so on. These factors make using big data appear way beyond their grasp.

But not using big data is no longer an option; it is a necessity. Taking into account the amount of data that is generated every year and the key information they are missing out on could prove to be disastrous for the future success of the company. Today, the world is all about making well informed decisions and delivering customers with the most efficient and robust service. These can only be achieved by carefully studying the market trends, deriving key insights and building business strategies upon them.

Small businesses can use big data solutions as they have become much more affordable in recent years. Additionally, they are simple to implement and use and are many times automated. These surely eliminates the biggest fears of startups thinking of using big data. It also gives them all the reasons to use it as long as they know how to best use it for their business.

There are several advantages using big data strategy brings to the company. Some of them are:



CoFounder at VenturePact Passionate about software, marketplace startups & remote work. Previously at SilverLake Partners, Ampush and Wharton.