Small Data. Definition
Small data is when information about one person is analyzed and conclusions.
Are made (accordingly, big data is when many people are analyzed and patterns in their behavior are found).
You don’t need many
Resources to collect, process, and interpret small data: one person can do it. Such data is intended to solve everyday problems, in the case of e-commerce: by learning the user’s gender, age, physiological denmark phone number data parameters, social status, and other data, you segment.
Users according to the learned criteria and conduct advertising campaigns and recommend products more effectively.
Small data is about everyday tasks: for example, collecting customers’ email addresses in a database and.
Sending out a newsletter, you are also working with small data.
Do retailers need small data
Small data has a more famous brother — Big Data, a technological trend of the last few years. Retailers need big data: it helps to get an overall picture of the market, see trends, predict demand or competition.
Increase sales by understanding customer behavior, etc. There are indeed many ways to use Big Data – a relevant example is with recommendation systems: they use big data and complex software algorithms to predict the needs and interests of a user based on his actions, comparing his behavior model with thousands of other similar users. After analyzing big data, such systems offer him the most relevant products.
But the example above
With recommendation systems is rather an isolated case in online retail, when big data was used so simply and with such a level of automation. In fact, it turns out that if you just take all this data about users and give it to retail, then only a few will analyze it and take it into account when developing advertising campaigns or planning assortment. The reasons you suffer from orthopedic are banal: it is difficult, time-consuming, and if you write software algorithms for analysis – expensive.
With small data it is simpler. There are at least three reasons for this:
They are accessible. To collect small data, you don’t need scientific methods, a software engine for analytics, building complex hypotheses, and all that stuff. Small data is about known things. Just like big data, small data kuwait data needs analysis, but it can be done using standard business software.
They are accurate. You can always update or clarify your clients’ data yourself: be it verifying their email and phone number on the website or even calling the call center.