Crunching big data can be a little overwhelming, especially when you have limited resources and time to do so. Small business has also often shied away from crunching all that data because of the insane amount of cost associated with it. However, because there has been a major focus on small business in recent years, there are tools that have come out of the woodworks that may be able to help you more than you think. Here are just a few.
This service is good for people who run online businesses. What it does, basically, is helps an ecommerce website know which of their customers are most valuable and then it tells a business how to keep them. In addition, Custora figures out where all of these repeat customers are coming from and then suggests incentives and other rewards that help bring lost sheep back into the fold. Custora analyzes order logs and figure out which customers just haven’t been ordering and those who have actually left the site. It’s not that expensive, and can help you immensely with conversion rates.
Basically, this is a database analysis tool that can help with data that needs to be extracted and transformed into a format that is easy to analyze. It then turns all of that extracted, filtered information into charts that make it easy to figure out just what exactly is going on behind the scenes of your business.
This tool is not only free, it’s actually backed and provided by the SBA. This tool shows small business activity all across the US to help you decide where you need to set up camp. You can search for where restaurants are located if you want to open a new restaurant, and you can see what those restaurants are cooking up in their kitchens so you don’t open one in an already crowded niche.
Don’t be afraid of big data – it can help you if you use the right tools.