ResearchMoz

Big Data vs Small Data Strategies for Next Generation Business

Mind Commerce Publishing
Published Date » 2013-12-23
No. Of Pages » 49
 The data market is booming with an ever increasing valuation. In the virtual data ocean, Big Data and small data are complementary strategies at one level and choices of scale/scope at a different level. While Big Data holds distant promises, leveraging “small data” can provide great benefits to small-to-medium business (SMB) as well as large corporations. Simply stated, the cost-performance barrier leaves many lucrative markets inadequately served by Big Data approaches. Carefully chosen data solutions and models should be more accurate, objective, and ultimately lead to improved ROI especially for more near-term time horizons and/or companies with limitations in scale/scope. 
   
 This research provides the reader with an understanding of data management issues,...
Table of Contents: 

1.0 EXECUTIVE SUMMARY 5

2.0 DATA TREND ANALYSIS 7
2.1 DATA SEARCH 7
2.2 DATA QUALITY 8
2.3 TIMED DATA DELIVERY 9
2.4 DATA STORAGE CAPACITY 10
2.5 DEFINING BIG & SMALL DATA INCLUDING SOURCING 12
2.6 BIG DATA VS. SMALL DATA DIFFERENTIATION 13
2.6.1 DATA MINING 13
2.6.2 DATA PURPOSE 13
2.6.3 KEY DECISIONS 13
2.7 DECISION PARAMETERS FOR BIG VS. SMALL DATA 14
2.8 USABILITY OF SMALL VS. BIG DATA IN MARKETING 15

3.0 BIG DATA MARKET ADVANCEMENT AND FORECAST 2014 - 2020 17
3.1 BIG DATA MARKET TREND 17
3.1.1 TRENDS IN THE ADVANCE OF BIG DATA 17
3.1.2 BIG DATA ANALYTICS 18
3.1.3 BIG DATA MARKET FORECAST 18
3.1.4 CASE STUDIES & STRATEGIC RECOMMENDATION FOR START-UP BUSINESSES 19
3.2 BIG DATA VALUE CHAIN 22
3.2.1 CREATING TRANSPARENCY 22
3.2.2 ENABLING EXPERIMENTATION 22
3.2.3 SEGMENTING POPULATIONS TO CUSTOMIZE ACTIONS 23
3.2.4 REPLACING/SUPPORTING HUMAN DECISION MAKING WITH AUTOMATION 23
3.2.5 INNOVATING NEW BUSINESS MODELS, PRODUCTS, AND SERVICES 23
3.3 BIG DATA IMPLEMENTATION RECOMMENDATIONS 23
3.3.1 FOR VENDOR COMPANY 23
3.3.2 INDUSTRY VERTICAL 24
3.3.3 CONSIDERATION FOR INDUSTRY STRUCTURE 24
3.4 BIG DATA TECHNIQUES 24
3.4.1 A/B TESTING 25
3.4.2 ASSOCIATION RULE LEARNING 25
3.4.3 CLASSIFICATION 25
3.4.4 CLUSTER ANALYSIS 25
3.4.5 CROWD SOURCING 26
3.4.6 DATA FUSION AND DATA INTEGRATION 26
3.4.7 DATA MINING 26
3.4.8 OTHER TECHNIQUES 26
3.5 BIG DATA TECHNOLOGY 27
3.6 BIG DATA INDUSTRY INSIGHTS & ANALYSIS 27
3.6.1 US HEALTHCARE 28
3.6.2 EUROPE PUBLIC SECTOR ADMINISTRATION 28
3.6.3 GLOBAL PERSONAL LOCATION DATA 28
3.6.4 US RETAIL INDUSTRY 28
3.6.5 GLOBAL MANUFACTURING INDUSTRY 28
3.6.6 ANALYSIS 28
3.7 CASE STUDIES 29
3.8 EMERGING BUSINESS MODELS 30
3.8.1 AGGREGATING AND SYNTHESIZING PATIENT CLINICAL RECORDS/CLAIMS 30
3.8.2 ONLINE PLATFORMS AND COMMUNITIES 30
3.8.3 PUBLIC HEALTH 31
3.8.4 RETAIL INDUSTRY 31
3.8.5 PLACEMENT AND DESIGN OPTIMIZATION 32
3.8.6 PRICE COMPARISON SERVICES 33
3.8.7 WEB-BASED MARKETS 33
3.8.8 PERSONAL LOCATION DATA 33
3.8.9 SMART ROUTING 34
3.8.10 AUTOMOTIVE TELEMATICS 34
3.8.11 MOBILE LOCATION-BASED SERVICES 35
3.8.12 SHOPALERTS 35
3.8.13 CIVIC POWERED MODEL 35

4.0 SMALL DATA 37
4.1 DIFFERENCE VS. RELATIONSHIP WITH BIG DATA 37
4.2 SMALL DATA TECHNOLOGIES 38
4.3 HOW TO ANALYZE SMALL DATA? 38
4.4 HOW BANKS ARE LEVERAGING DATA 39
4.5 SMALL DATA MODELING IN THE CLOUD 39
4.6 SMALL DATA PROBLEMS IN MASS MARKET 40

5.0 SMALL DATA DRIVEN EMERGING BUSINESS MODELS 41
5.1 SOCIAL NETWORK 41
5.1.1 CASE STUDY: RENREN 41
5.2 LITTLE DATA CONTROLLING 42
5.3 KEY CONSIDERATION FOR DELIVERING SMALL DATA STRATEGY 43
5.4 SMALL DATA FRAMEWORK 44
5.5 SMALL DATA PRINCIPLES 45
5.6 SMALL DATA WITH BIG IMPACT 45
5.7 CASE STUDIES 45
5.7.1 THE REAL DELI 45
5.7.2 GOOGLE 46
5.7.3 ADOBE 46
5.7.4 FOURSQUARE 47
5.7.5 TWITTER 47
5.7.6 ATTIVIO 47
5.7.7 OTHER COMPANIES 47
5.8 RECOMMENDATION 47
5.8.1 FOR E-COMMERCE COMPANY 47
5.8.2 FOR MULTI-STORE CHAINS 48
5.9 GUIDELINES FOR SMALL DATA BEST PRACTICES 48

6.0 CONCLUSIONS 49

List of Tables


Table 1: Decision Points for using Big Data 14
Table 2: How Small Data is Different 37

List of Figures


Figure 1: Data Search Trends in Google 2009 – 2013 7
Figure 2: Global Data Search, Generation, and Delivery Trends 9
Figure 3: Global digital vs. Analog Data Storage Capacity 1986 – 2021 11
Figure 4: Big Data Market Value 2011 - 2020 19
Figure 5: Big Data Value Chain 22
Figure 6: Small Data Implementation Framework 45

Upcoming Reports:

Bio Energy Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019
By - Transparency Market Research
Bio energy is a renewable source of energy that is made available from materials derived from biological sources.  Biomass is a matter derived from plants and animals available on renewable basis. It includes wood and agricultural crops, wood waste, sugarcane, municipal organic waste, manure, etc. Bio energy is derived after bio mass conversion which can be used as fuel or can be processed first into gases and liquids and then used to produce bio energy. It is energy produced by the living organism or recently living bio organisms and by their metabolic byproducts. The combustion of...
Rheumatoid Arthritis Pharmacotherapeutics Market - Global Industry Size, Market Share, Trends, Analysis And Forecast, 2012 - 2018
By - Transparency Market Research
Treatment options for rheumatoid arthritis (RA) are expanding as a result of increasing research activities and more explicit understanding of the pathophysiology of diseases. For the treatment of RA, novel selective inhibitors such as cyclooxygenase-2 (COX-2) are used along with the non-steroidal anti-inflammatory drugs. Although COX-2 is used in treatment of RA, it has several side effects associated with the upper gastrointestinal region.  Currently, use of disease modifying antirheumatic drugs is recommended by most professionals in the early stages of disease. ...
Poland: processed poultry meat market
By - Williams and Marshal Strategy
This report presents a comprehensive overview of the processed poultry meat market in Poland and its state as of January 2014. It provides detailed analysis of the industry, its dynamics and structure. The purpose of the report is to describe the state of the processed poultry meat market in Poland, to present actual and retrospective information about the volumes and dynamics of production, imports, exports and consumption, the characteristics of the market for the period 2008-2012 and to build a forecast for the market development until 2018. In the same way, the report presents an...

Research Assistance

We will be happy to help you find what you need.
Please call us or write us:

866-997-4948 (Us-Canada Toll Free)
Tel: +1-518-618-1030
Email: sales@researchmoz.us
Select License type:

Share this report

Related News

Loss recorded due to heavy investments carried out by Amazon
Jul 25, 2014  
Amazon.com Inc has been investing in newer businesses like consumer electronics and digital content, due to which it has been running into losses for some time now. The loss recorded in the second quarter was by far the highest. In 2014, the stock prices have dropped by 10% with reduced investor confidence in the long term growth investments. The shares of this US based online retailer...
LG Electronics To Invest Huge Capital in R&D Project in South Korea
Jul 25, 2014  
LG Electronics Inc will invest USD 1.26 billion in the construction of a new research and development unit in South Korea’s capital city Seoul. The facility is said to be part of LG’s Science Park project. The 170,000 square meters site will be built in Magok, Seoul and work is expected to begin from August. Once the construction is complete and ready by 2020, the park will house...
Russian Consumer Protection Agency Seeks ban on Some McDonalds Products
Jul 25, 2014  
A lawsuit has been filed in a Moscow court by the Russian consumer protection agency to seek ban on some products from McDonald's Corp's burgers menu, along with its ice creams and shakes menu.  A regional branch of the agency has recently filed a lawsuit asking the court to declare a ban on some products due to some inappropriateness in physical-chemical parameters in the...
High-sodium Diet Increases Risks of Cardiovascular Diseases in Type 2 Diabetics
Jul 24, 2014  
A new research has found relation between the amount of salt in diet of diabetics and their chances of suffering from cardiovascular diseases. The research has stated that diabetics who have a high-salt diet are on a higher risk of having a chronic heart disease as compared to the ones who eat less salt.  The study’s findings provide evidences that support the benefits of a...
Strides Arcolab Bags USFDA Approval for Transplant Drug
Jul 24, 2014  
Indian pharmaceutical company Strides Arcolab has received the approval of the USFDA to sell its transplant drug Tacrolimus in the US market. The capsule is an immune-suppressant that is used for preventing organ rejection that may occur in transplant surgeries of organs such as kidneys, heart or liver in some patients.  USFDA has allowed the sale of the tablets in 5 mg, 1 mg and 0.5...