What is Big Data Analytics?
Big data analytics refers to the process of examining large and varied datasets to uncover hidden patterns, unknown correlations, market trends, customer preferences, and other valuable information. This analysis is typically performed using specialized software tools and algorithms capable of handling massive volumes of data.
In a recent article, data and analytics guru Bernard Marr said: “While the average small business has less self-generated data than big players. . .this doesn’t mean big data is off-limits. In fact, in many ways, big data is more suited to small businesses, because they’re generally more agile and able to act more quickly on data-driven insights.”
Many SMEs and medium-sized companies are sitting on huge amounts of BIG DATA such as sales activities: face-to-face meetings, sales calls, emails sent and received, quotes: submitted, won & lost and many other marketing activities.
Businesses can harness this data to make decisions about:
- Finding new customers
- Increasing customer retention
- Improving customer service
- Better managing marketing efforts
- Tracking social media interaction
- Predicting sales trends
For small and medium enterprises (SMEs), harnessing this data can be a game-changer, offering a competitive edge and seeking new opportunities. Big data analytics, in particular, holds immense potential for SMEs in 2024.
Why is it Important for SMEs?
- Informed Decision-Making: Big data analytics empowers SMEs to make informed, data-driven decisions. By analyzing customer behaviour, market trends, and operational efficiencies, businesses can optimise their strategies for better outcomes.
- Enhanced Customer Insights: Understanding customer preferences and behaviour is crucial for SMEs. Big data analytics can provide deep insights into customer needs, enabling personalised marketing campaigns and improved customer experiences.
- Operational Efficiency: By analyzing internal processes and workflows, SMEs can identify inefficiencies and streamline operations. This can lead to cost savings and improved productivity.
- Competitive Advantage: SMEs often compete with larger corporations. Big data analytics can level the playing field by enabling SMEs to extract valuable insights and act on them swiftly
- BluWave Software's license fee gives you access to all three of our products - BluWave CRM, BluWave Service (with Mobile Job Cards) & BluWave BI (Business Intelligence).
BluWave Embedded BI The power of information cannot be understated. Add innovative Data Analytics Software to your CRM System and you’ve got a winning model to take on the competition.
We have just released our latest version of BluWave CRM which comes with two embedded BluWave BI Dashboards.
Rarely would you find this level of data analytics inside a CRM/Service system. Factor in that BluWave CRM & Bluwave Service are both, a local & affordable solution. Simply put, embedded BI means adding features normally associated with BI software – such as dashboards, data visualization, and analytics tools – to an existing software application.
BluWave embedded BI will have meaningful dashboards and reports for both users (sales teams/ service teams) and management.
Want to know more about BluWave CRM & Embedded BI?Contact Us To Set Up A DemoTel: (011) 462 6871Email: sales@bluwave.co.za
