Effect of Big Data on SMEs Performance

Due to the rapid increase in the amount and velocity of data transmission, the concept of “Big Data” has been on the minds of managers and decision-makers as a means to boost industrial productivity. As a result of the explosion in data volume and complexity brought on by new forms of advanced technology and a wide variety of market opportunities, a data-driven approach to business operations is now essential. This is becoming an increasingly important problem for small and medium-sized enterprises (SMEs), especially in Africa with inadequate infrastructure and resources. Notably, the majority of reports to date that explain how performance gain can be achieved have come from large, well-established firms, especially in developed countries, and there have been few attempts to study the main factors that affect SMEs' intention to adopt BD in developing countries like Africa. Therefore, the purpose of this research was to detect and explain the influence of BD on the performance of SMEs. Three categories of big data were identified in this chapter (structured, unstructured and semistructured). Big data's influence is that it helps SMEs better understand their clientele and respond to their needs through data-driven management and marketing strategies. On the other hand, BD is essential for SMEs to do market research and anticipate consumer actions. SMEs can benefit from BD since it improves their adaptability, efficiency, responsiveness, and the capacity to anticipate and meet client needs.