The term Big Data refers to a collection of data or combinations that require non-traditional computer applications to handle adequately due to their size, complexity, and rate of growth. Conventional data processing software cannot manage it effectively.

Our managing partner, Héctor Torres, believes that the proper management of vast amounts of information helps organizations generate new growth opportunities and deploy new products and services.

“Big Data is an essential element that various companies have embraced to better adapt to the new scenarios that have emerged, especially after the emergence and development of New Technologies,” he asserts.

For Torres, an advantage of implementing Big Data in companies is the enhancement of competitiveness, as it reduces operational risk through better marketing decision-making. This step will aid companies in avoiding improvisation in their operations.

Another benefit is that product evaluation becomes more efficient and almost instantaneous thanks to a real-time information collection system stored in a database. In this scenario, the aim is to replace a non-functioning service or product with one that resonates with consumers and generates profits.

“At this point, companies must carefully manage their marketing strategies so that they do not have to sacrifice the quality of products for the sake of generating quick profits,” he adds.

However, Torres expresses that some businesses become lost amid the abundance of genuinely crucial data, which is to utilize them to draw conclusions and obtain pertinent information for the business. This is where Small Data comes in; it gathers data in a format and quantity that makes them accessible, informative, and usable.

The distinction between Big Data and Small Data lies in the former focusing on data volume, typology, and processing speed, while the latter consists of usable portions.

Therefore, the purpose of Small Data is to render large data comprehensible, connected, organized, and packaged in a manner that everyone in the organization can use conveniently for daily tasks and focus on specific duties.

Our expert indicates that Small Data aids small and medium-sized enterprises in the process of identifying the “ideal customer,” introducing new products, and establishing a network of collaborating providers.

“Social networks have allowed the use of data without requiring extensive infrastructure. Individuals can manage platform statistics and gather evidence to create business strategies,” he explains.

If you have further queries about how to embrace digitization within your organization, you can reach out to us or visit our offices.