What medium-size business shall be data-driven for and what it practically means
There are not significant boom conditions in the Big Data segment in Kazakhstan yet, but this is expected to occur in the next 2-3 years. This issue has been arising by Tatiana Plotnikova, Marketing Manager of the Corporate Department of the Kcell in her speech on June 28, within the Eurasian Women’s Business Forum. Kcell became an official partner of the event.
According to the representative of the Kcell each company receives different results after data handling, but all of them notice positive tendencies.
«In the period of uncertainty, it is important, on the one hand, to stop relying on bare intuition, on the other, not to fall into analytical paralysis, trying to get answers to all questions from available data. Golden mean is advanced analytics with search for predicted patterns using big data and insights based on so-called small data. According to various estimates, this approach provides from 4 to 33 percent growth in business productivity», noted Tatiana Plotnikova in her speech.
Analytics is not big data. They allow managing sales, working on the average receipt, on the cost of attracting customers using cohort analysis, unit-economy and variance analysis.
«A small business has no and cannot have big data. Because that is a base of structured and unstructured information, which is generated by a large customers base, as telecom operators, banks and Internet giants have. The firsts have data on geolocation at any time of day, interests, trips abroad, income levels, etc. Whereas full financial profile of customers and their consumer preferences is available for banks.Internet giant hascompetitive benefit in the socio-demographic profile, because Internet users generate content, visit various sites, enter search queries, etc. These companies are able even to predict our behavior,» added Tatyana Plotnikova.
She noted thatnow owners of small and medium-sized businesses can take advantage from services based on big data from the company — Kcell-Contact, Business Look. Based on the data, they will be able to find out where to open a new sales point or start a business. Besides it is possible to more accurately understand your target audience using company’s business solutions,
The Eurasian Women’s Business Forum is an event for those who see prospects in the new economic reality. The forum provides new vision, specific tools and energy for the next step in career, business and life. According to recent research*, women in Kazakhstan provide jobs for almost half of private entrepreneurs and for 42 percent of small and medium-sized businesses. Therefore, the Kcell decided to participate in this event and support women-entrepreneurs and those who only decide to start their own business.