Analyzing the possibilities of using big data in small and medium-sized businesses

Abstract

Object: To explore the problems associated with the use of big data in small and medium-sized businesses. Explore the possibilities of collecting and using big data to successfully solve business problems that have not previously been solved by business managers.

Methods: To analyze these problems, the researchers compiled a questionnaire to collect feedback from managers working in 45 small and medium-sized enterprises in five vital commercial sectors of the Kostanay region. The collect ed data was thoroughly examined and the findings of the study provide credible evidence of the challenges these businesses face in implementing data analytics.

Findings: As a result of this study, pilot data was provided on five problems that enterprises face when implementing big data analytics: data privacy and security, lack of human resources, lack of technological resources, lack of awareness and financial implications.

Conclusions: Data was collected from 45 participants using an online survey tool. Survey questions covered demographic characteristics. The survey recorded most responses as a dichotomous simple data type with two scales (yes or no) — the confidence level was set at 95 %. Minitab version 18 was used to test and format the results. The results of this study will be useful for the management of small and medium-sized enterprises in the planning and development of their short- and long-term development strategies.