How to maximise the potential of big data for MSMEs businesses?
Let's start with Walmart as an illustration of a business that has successfully employed big data to enhance its supply chain. Walmart can forecast consumer demand and improve its inventory management procedures by employing data analytics to track weather patterns, traffic, and social media trends. As a result, the company has been able to improve on-shelf availability and decrease stockouts, which has increased sales and customer satisfaction. Data can be used by small businesses to obtain comparable outcomes. These companies also have access to a variety of sources that may be used to collect data for analysis, such as email marketing reports, sales receipts, social media analytics, website analytics, streaming data from connected devices, publicly accessible data, and data lakes. Small firms may use data analytics to make better decisions, understand consumer behavior's, and ultimately increase performance and profitability by utilizing various data sources. Big data can