In emerging markets that are not highly digitalized, small data has largely become the information backbone for data analytics. Paper-based data and social media reports on the field are the first step for companies active in markets in the developing world
“Companies need analytics to cope with these new markets, this means harnessing intelligence from both structured and unstructured data,” said Richard Howells, vice president of Go to Market for SAP.
Social media reports assist companies in understanding the needs and consumption levels in rural areas in developing countries, and vital business information (such as balance sheets and inventory) is most likely to be found in spreadsheets and paper-based files and reports.
As companies like Deloitte predict that 40 to 60% of their growth in revenues will come from emerging markets over the next decade, we will be seeing more small data solutions as these emerging economies and countries grow in their data sophistication.
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(Image Credit: Simon Cunningham)