While small businesses often drive economic growth, the high capital costs could bring them down later on. Big companies on the other hand thrive on scale. At present, it is the availability of big data, or huge stockpiles of information, that give such companies an edge. Firms with over a thousand employees are getting bigger thanks to the right deployment of this data. A third of the total workforce in the US is now employed at the large firms, in comparison to a fourth, as was the trend in the 1980s. Companies such as Exxon, get intricate market insights thanks to the data warehousing they get done. Producing data has thus, now become imperative to surviving and thriving on the business scene.

Source:http://mitsloan.mit.edu/ideas-made-to-matter/big-data-helps-large-firms-grow-even-bigger?utm_source=mitsloantwitter&utm_medium=social&utm_campaign=firmgrowth

Uploaded Date:27 February 2019