BIG DATA APPLICATION IN SMALL BUSINESS MANAGEMENT: A CASE STUDY

T Kulinich, O Sternyuk - European Science, 2024 - desymp.promonograph.org
T Kulinich, O Sternyuk
European Science, 2024desymp.promonograph.org
In an environment of fierce competition and rapid market changes, small businesses face
the necessity of making prompt and informed decisions. Although such businesses have
limited capital turnover, a local area of operations, a limited legislative framework for their
activities, and a small number of jobs created, they are flexible. As a result, traditional
management methods often fall short when running a business efficiently. This contrasts
approaches that use Big Data tools generated from day-to-day business operations. It is …
In an environment of fierce competition and rapid market changes, small businesses face the necessity of making prompt and informed decisions. Although such businesses have limited capital turnover, a local area of operations, a limited legislative framework for their activities, and a small number of jobs created, they are flexible. As a result, traditional management methods often fall short when running a business efficiently.
This contrasts approaches that use Big Data tools generated from day-to-day business operations. It is precisely the integration of Big Data into traditional management that unlocks new opportunities for continuous transformation in small businesses, allowing them to understand their customers and swiftly adjust business processes, customer interactions, and overall operational efficiency. Given the complexity of the outlined process, it is advisable to study it through the lens of a case study, interpreted as a detailed analysis of a specific situation or problem. Essentially, a unique success or failure story involving the use of Big Data in small business should be created, aimed at studying, analyzing, and drawing practical conclusions.
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