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Big data 'providing a new challenge for small businesses'
Jan 5 2012, 23:17 PM
The coming year will bring a new challenge for small businesses in the form of data management of the growing amount of information companies have to handle.
According to the McKinsey Global Institute, the amount of data being generated globally increases by 40 per cent a year.
Speaking to the Sydney Morning Herald, Erik Swan, 47, co-founder of Splunk, an enterprise software company, said: "My smartphone produces a huge amount of data, my car produces ridiculous amounts of really valuable data, my house is throwing off data, everything is making data."
With such huge amounts of data available it is becoming increasingly difficult for small companies to handle and the real challenge in the coming months is to devise systems which can help them not only manage this data but make good use of it in their marketing and communications with customers.
According to a recent survey by Connotate, 45 per cent of people it questioned said that human error holds back big data management, which suggests training may be a priority for the new year.
Posted by Neil Hill
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