Big data may be a significant part of the future of all sorts of industries and businesses ” from information technology to marketing to construction to retail.
While data has already changed a lot in recent years and is already having a significant impact, there’s still a lot of room for it to grow.
When it comes to taking the lead on the growth of big data, startups may play a more crucial role than big, well-established companies. While today’s major players will certainly play an important part, startups may really end up driving significant changes in the field. Here are four reasons why.
1. Specialization
While it’s true that there is power in numbers, in today’s world, specialization is key.
In marketing, for instance, the go-to approach is no longer to send out a message to large, non-specific audiences through billboards or even TV. More and more marketers are using data to target advertising to specific subsets of people, even down to the individual level.
Some startups specialize in using big data exclusively in one industry or in one way. This could give them the edge over large companies that don’t have as defined a focus for clients looking for expertise in a certain area.
Mevoked is one such startup. The company uses data to help improve people’s mental health with monitoring, providing them with relevant information and allowing physicians to see what works and what doesn’t for specific information.
2. More Innovation
Startups in the big data field tend to use open source technology instead of paying for software from a big company. This gives them more freedom to create their own products in a more innovative way.
Startups are changing the way businesses come up with new ideas. More of them are sharing their creations with other companies and coders by making them open source.
Big data is creating huge changes in the business world across industries. While more well-established companies may have more resources, they also tend to be more stuck in old ways. The big data requires a significant adjustment in way of thinking ” something that startups are perfectly equipped to embrace.
3. A More Personal Connection
Another edge that startups have over big businesses is one that has proved a major plus of small businesses for as long as they’ve had big, national companies to compete with. They’re able to provide their customers with a more personal connection and can build better relationships with them.
Going with small contractors like local IT service companies, for example, could prove to be the better choice for business needs. A small, local startup can spend more time on your specific requirements, and you’ll have a better opportunity to build a lasting relationship with them ” which could lead to better, faster service in the future. They also know your area and may be able to offer unique insights into your industry.
As data gets bigger, people may seek out smaller companies to help them make sense of all of that data and balance out that big business feel.
4. Security Benefits
Small data companies may also be able to offer security benefits that large corporations can’t. A small company can provide security solutions that are more specifically designed to fit your needs, which can lead to more secure and easier-to-use data.
Sending all of their valuable data to a huge corporation may cause worry for some organizations. Big companies can be the victims of cyber attacks more frequently since they’re more well-known to hackers, and a bigger network can mean more potential ways in.
Smaller companies may also choose to specialize in security. That’s one of the main focuses of SQRRL, a big data startup that gets its data from the National Security Agency, or NSA.
Big data is the wave of the future, and startups may end up being the main companies riding that wave. While large, well-established companies will certainly still play a role, startups are likely to emerge as most influential leaders in the big data revolution.
