Experts have never fallen short on stressing the fact that data science is the future. The past few years has seen a sharp rise in the use of data technology in major organisations around the world. SMEs however, have been seen as laggards in this respect. This is a rather unfortunate situation considering the place that SMEs hold in a country like India.
*About 95% of all companies in India comprise of SMEs.
The question however remains, why SMEs are such late adopters compared to larger organisations?
Most SMEs are intimidated by the term “Big Data”. The reasons could vary depending upon the nature of the business. The main reason however, is the notion that Big data requires Big bucks!!
So lets put some light on how true is this?
Today there are a number of data analytical softwares which provide low cost solutions. They provide basic machine learning operations with an easy to use software interface perfectly suited to small organisations. One of the well known examples is the number of data analytical tools provided by Google analytics.
Investing smartly in Data science can do wonders and gives you the right kind of solutions required for today’s day and age.
Even if such technology eats up a small part of your company budget, it does optimise your process and makes things more efficient. This in turn cuts down your costs in the end.
One more major reason why SMEs should find it easier to adopt Data science is the fact that small businesses are more agile as compared to big companies. It is way easier to
integrate new processes and policies in small organisations compared to larger ones. If a certain process is not working, SMEs go through lesser hassles to change it or even replace it with a completely different process.
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