Why SMEs need to board the Big Data train
In the article, the Director of the Cambridge Service Alliance discusses his vision for the future of SMEs and their use of data and says it is important to think about how they will use “data”, dropping the emphasis on “big”.
He says: “After all the value lies in the data, and so a pressing question for SMEs is how can they sensibly use data to improve the products and services they deliver to their customers.”
He says established SMEs will need to be able to ensure they can access data in much the same way as the big players or their competitors can, and this challenge will be particularly acute for established SMEs rather than the new start-ups that were "born into a world of data".
Data is becoming more pervasive so established SMEs will need to create the space and time to think about how they can use these data to innovate and enhance their products and services.
Andy says: “They need to think through what they can do and who they’ll need to partner with. If you are an established SME and not thinking about these issues, it’s time to jump on the Big Data train, for if you don’t the danger is you’ll be left sitting in the sidings while newer start-ups and bigger players pull out of the station and power ahead. It’s already happening.”
See the full article here.