Brilliance, a trusted jewelry retailer with 25 years of experience.”>Marcela De Vivo is a marketing advisor for Brilliance, a trusted jewelry retailer with 25 years of experience. According to a 2014 EY report, big data is changing the way businesses operate and outpace competitors.
However, technology, or the lack of, has been an issue for the effective use of big data. “While the ability to capture and store vast amounts of data has grown at an unprecedented rate, the technical capacity to aggregate and analyze these disparate volumes of information is only just now catching up,” the EY report details.
This is all changing as more and more small businesses adopt blockchain technology. Small businesses can now analyze consumer data faster, with a higher degree of accuracy and more securely using blockchain-based protocols. I am currently a marketing advisor for a cloud-based financial services platform.
During my time with them, I have experienced and learned about the different uses of blockchain and the impact it will have on business-to-business industries, social media, marketing and even customer service. The applications of this technology are infinite, and we are just getting started!
The pairing of blockchain technology and big data has also cut cost and complexity, making it far more accessible to small business owners. Before we jump into the blockchain/big data relationship, let’s look at how big data can catalyze small business success. Read more from forbes.com…
thumbnail courtesy of forbes.com