How much could your business save?Find out now!
Or, you can call us on:0800 411 8830

SME data scientists: what is Big Data?


You don’t need to be a large corporation to make use of Big Data. SMEs are well positioned to put insights to powerful use.

When anyone explores the internet they create a trail of information that describes their preferences and habits. When all that data is combined, it’s called ‘Big Data’, and it’s by no means a modest definition. According to IBM, 2.5 billion gigabytes of data was generated every day in 2012, and by 2020 an anticipated 75 billion internet-ready devices will increase that data production exponentially.

Database

But getting to grips with heaps of consumer data is almost certain to be low on the priority list. But SMEs can analyse small data sets, that won’t eat up valuable resources and time, to make sure they’re operating intelligently and responding to consumer needs. Here are some simple tips – looking at free platforms and tools – to get you started.

Email marketing

If you keep in touch with consumers using email you’re already onto a winner because it’s a key communication tool that’s capturing Big Data.

If not, have no fear – it can be quick and simple to explore. Free platforms, such as MailChimp, will reveal helpful information about your subscribers’ behaviour, such as open rate and click-through.

The average email campaign stats are pretty healthy for a smaller companies (achieving 22.11% open rate with a 3.06% click rate), but the overview metrics are just the start of the story; if one of your subscribers loyally opens emails and frequently clicks on lots of links, there’s an opportunity to convert their interest into a sale.

Mailchimp can process the rest of your mailing list to spot similar activity, so you can create a mailing list that exclusively contains hot leads. You may want to send them targeted conversion emails, with a special offer or VIP access to a service.

Social media channels

Social data isn’t always rooted in numbers, so while pre-packaged metrics – such as likes, or shares – may give you a confidence boost, it doesn’t always give practical insights. For example, if you own a cafe and want to attract a new parent and family market you can look to forums or look for conversations on social media, to find and target your desired audience.

For example, Mumsnet – a parenting advice site with upwards of 70 million page views and over 14 million visits per month – could be used to investigate the family-friendly catering market near you. To search the forum for your specific needs, go to Google and use the shortcut below, followed by the subject you’d like to investigate:

site:www.mumsnet.com/Talk family coffee stroud

It’s full to burst with real life Big Data experiences of parents, revealing where they go presently, what keeps them buying (price points, service or quality), and any pains they have to overcome (room for pushchairs). Look for patterns, and use their experiences to inform a problem-solving strategy so you can sing your sell points from the rooftops on every channel. Social media data will help you manoeuvre into new business opportunities you wouldn’t have spotted from behind a counter.

SMEs shouldn’t feel overwhelmed by Big Data, and instead take advantage of its insights to discover more about current customers and target new business.

Related Articles

energy news 240217

Energy News – 24/02/2017

What’s been making headlines across the energy world this week? We round up the big stories from the las...

Read More
content calendar download

Free Content Calendar Download

This month we have a free content marketing calendar download for our blog readers and newsletter subscribers....

Read More
Renewable energy sources: what is hydropower?

Renewable energy sources: what is hydropower?

Energy generated by water has been used for thousands of years but only recently to generate electricity. We t...

Read More
Excellent, 9.7 / 10

Great Service

"Jessica Purnell was great, she was helpful and everything was easy. I have saved £150 per month! many thanks Jess :-)"

This review was posted by Melanie Baker on the 23rd of February 2017

Thank you Jess Purnell!

"Jess really helped us out with switching suppliers... she wasn't pushy at all and the service was great. Thanks again!"

This review was posted by Becki on the 23rd of February 2017

Thanks for your help Mark Weeks and Switch My business

"I would like to thank Switch My Business and particularly Mark Weeks for the ease of switching and saving me money! I can highly recommend them. Thanks again Richard Blake"

This review was posted by Richard Blake on the 22nd of February 2017

Aaron Gallagher

"Aaron sorted out a new electricity deal for my church, enabling us to make good savings. We have now received confirmation of our new 3 year plan.During our telephone conversations Aaron was always very polite and efficient. Dawn Marskell"

This review was posted by Dawn Marskell on the 21st of February 2017

Great help switching

"First time I have ever done an energy supplier switch, it seemed a bit daunting but the way EDF has rocketed our industrial energy bill I had no option, Bea Luseni guided me through the process and took all the worry away, many thanks well done"

This review was posted by Horatio on the 17th of February 2017