Big Data vs. Small Data Strategies for Next Generation Business The data market is booming with an ever increasing valuation.
In the virtual data ocean, Big Data and small data are complementary strategies at one level and choices of scale/scope at a different level. While Big Data holds distant promises, leveraging “small data” can provide great benefits to small-to-medium business (SMB) as well as large corporations. Simply stated, the cost-performance barrier leaves many lucrative markets inadequately served by Big Data approaches.
Carefully chosen data solutions and models should be more accurate, objective, and ultimately lead to improved ROI especially for more near-term time horizons and/or companies with limitations in scale/scope. This research provides the reader with an understanding of data management issues, challenges and opportunities relative to Big Data and small data approaches.