The majority of Spanish SMEs trust in digitalization and plan to invest in it in the next three years, however, they still need to carry out a digital transformation focused on the efficient management of large volumes of data. Using Big Data strategies can help these companies proactively address problems, generate new opportunities, improve operational efficiency, and build customer loyalty. However, SMEs face challenges such as the integration of different data sources and types, the need to process large volumes of data quickly, and the proper selection and preparation of data. To succeed in a Big Data strategy, SMEs must clearly define business problems, select and prepare the right data, store it securely, and perform extensive analysis to make data-driven decisions. The beginning of a new year is an opportune time to implement digital transformation and Big Data strategies, which requires a change in mentality and strategic focus in these companies.
Tag: SMEs
How to choose the most appropriate type of graph?
When visualizing data, it is important to consider the objective and adapt the graph to the desired storytelling. The audience to which the results will be displayed also influences the choice of chart type. The size and type of data, as well as the relationship between the variables, also determine which type of graph is most appropriate. It is recommended that you experiment with different charts and use multiple charts to maintain clarity and show comparisons, trends, and relationships between variables.
Big Data and Insurance: towards an industry of risk prediction and prevention
The entire concept of insurance business is based on risk assessment. Whether it is property and casualty insurance or any other type of life, home or auto policy, the main task is to assume the possible risks relevant to each client and predict the possibility of the policyholder making a claim.
The ABC's of a data science process
The COVID-19 pandemic has negatively impacted the Spanish economy, especially SMEs with a lower degree of digitalization. The SME Digitalization Promotion Plan and European Union funds provide opportunities to accelerate digital transformation. Data science is key, using data to make dynamic decisions and gain insights. The data science process involves defining the problem, preparing and studying the data, creating and validating models, and visualizing the results. You need a skilled team and a systematic approach to make the most of data and make informed decisions.
