Date of Graduation
Bachelor of Science in Business Administration
In today’s highly competitive business environment, small businesses are under growing pressure to fight for market share. To do this, a competitive advantage must be established to outperform other business competitors both big and small. One way that small businesses can create a competitive advantage is by utilizing their data and applying basic data analytics. Data analytics is the process of collecting and analyzing large sets of raw data using statistical tests to identify patterns and insights to make conclusions that inform business decisions. The use of data analytics is not exclusive to large corporations and can be greatly beneficial to small businesses. Small businesses can gain valuable insights into market trends, customer demographics, purchasing behaviors, internal operations, performance monitoring, and more. Data analytics allows small businesses to harness the capability to create solutions for various business needs at all levels ranging from high-level management decisions down to daily in-store operations. In this paper, I will explore the benefits of implementing data analytics for small businesses and examples of how and where it can be used.
Data analytics, small business, statistical analysis, text analysis, diagnostic analysis, predictive analysis, data collection
Richoux, K. (2023). Discovering Data-Driven Solutions: A Practical Guide for Small Businesses Implementing Data Analytics. Information Systems Undergraduate Honors Theses Retrieved from https://scholarworks.uark.edu/isysuht/21