Focusing on Small Data to drive big results

Abstract

Big Data has become ubiquitous and making sense of it is getting increasingly complex and, as a result, more costly. Although organisations continue to make strides towards a robust integration of structured and unstructured data types, the opportunity to leverage small-scale data to enable key business decisions, remains considerable. There are many ways in which organisations, especially small and mid-size, can be data-driven, and still make effective decisions at a low cost. This paper explores the benefits of creating ad-hoc analyses and insights through the utilisation of small-scale, standalone and third-party sources of data, namely, Small Data. Numerous case studies will be presented, including media mix studies, customer segmentation and event-based marketing, with each having three characteristics in common: high business impact, increased speed to decision and cost savings.