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A Study of Big Data for Business Growth in SMEs: Opportunities & Challenges

Author

Listed:
  • Iqbal, Muhammad
  • Alam Kazmi, Syed Hasnain
  • Manzoor, Dr. Amir
  • Rehman Soomrani, Dr. Abdul
  • Butt, Shujaat Hussain
  • Shaikh, Khurram Adeel

Abstract

In today's world the data is considered as an extremely valued asset and its volume is increasing exponentially every day. This voluminous data is also known as Big Data. The Big Data can be described by 3Vs: the extreme Volume of data, the wide Variety of data types, and the Velocity required processing the data. Business companies across the globe, from multinationals to small and medium enterprises (SMEs), are discovering avenues to use this data for their business growth. In order to bring significant change in businesses growth the use of Big Data is foremost important. Nowadays, mostly business organization, small or big, wishes valuable and accurate information in decision-making process. Big data can help SMEs to anticipate their target audience and customer preferences and needs. Simply, there is a dire necessity for SMEs to seriously consider big data adoption. This study focusses on SMEs due to the fact that SMEs are backbone of any economy and have ability and flexibility for quicker adaptation to changes towards productivity. The big data holds different contentious issues such as; suitable computing infrastructure for storage, processing and producing functional information from it, and security and privacy issues. The objective of this study is to survey the main potentials & threats to Big Data and propose the best practices of Big Data usage in SMEs to improve their business process.

Suggested Citation

  • Iqbal, Muhammad & Alam Kazmi, Syed Hasnain & Manzoor, Dr. Amir & Rehman Soomrani, Dr. Abdul & Butt, Shujaat Hussain & Shaikh, Khurram Adeel, 2018. "A Study of Big Data for Business Growth in SMEs: Opportunities & Challenges," MPRA Paper 96034, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:96034
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    References listed on IDEAS

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    1. Yaqoob, Ibrar & Hashem, Ibrahim Abaker Targio & Gani, Abdullah & Mokhtar, Salimah & Ahmed, Ejaz & Anuar, Nor Badrul & Vasilakos, Athanasios V., 2016. "Big data: From beginning to future," International Journal of Information Management, Elsevier, vol. 36(6), pages 1231-1247.
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    1. Sumera Ahmad & Suraya Miskon & Rana Alabdan & Iskander Tlili, 2020. "Exploration of Influential Determinants for the Adoption of Business Intelligence System in the Textile and Apparel Industry," Sustainability, MDPI, vol. 12(18), pages 1-21, September.
    2. Sumera Ahmad & Suraya Miskon & Rana Alabdan & Iskander Tlili, 2020. "Towards Sustainable Textile and Apparel Industry: Exploring the Role of Business Intelligence Systems in the Era of Industry 4.0," Sustainability, MDPI, vol. 12(7), pages 1-23, March.
    3. Esteban Pelayo Villarejo & Antoni Pastor Juste & Jakub Kruszelnicki, 2019. "Segmentation Techniques For Innovation Support Services," Review of Economic and Business Studies, Alexandru Ioan Cuza University, Faculty of Economics and Business Administration, issue 24, pages 207-237, December.

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    JEL classification:

    • C8 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs
    • M1 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration
    • M15 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - IT Management

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