Leveraging Big Data For Sme Growth and Competitiveness: A Literature Review

Adekunle Abiola Abdul (), Faith Ibukun Babalola, Gbolahan Olaoluwa Oladayo, Uneku Ikwue and Andrew Ifesinachi Daraojimba
Additional contact information
Adekunle Abiola Abdul: Independent Researcher, Maryland, USA
Faith Ibukun Babalola: The Pennsylvania State University, USA
Gbolahan Olaoluwa Oladayo: University of Texas at San Antonio, USA
Uneku Ikwue: Independent Researcher, Abuja, Nigeria
Andrew Ifesinachi Daraojimba: Signal Alliance Technology Holding, Lagos, Nigeria

INWASCON Technology Magazine(i-TECH MAG), 2023, vol. 5, 26-33

Abstract: In the rapidly evolving digital landscape, big data has emerged as a transformative force, reshaping businesses' operational and strategic paradigms worldwide. This review delves into the profound implications of big data for Small and Medium Enterprises (SMEs), a sector often overshadowed by larger counterparts yet pivotal to global economic growth. This study aimed to elucidate the multifaceted relationship between SMEs and big data, exploring its historical context, economic ramifications, challenges, and the technological advancements propelling its integration. Through a systematic literature review approach, the research methodically sifted through myriad studies, gleaning insights and trends pertinent to SMEs. The results underscored the monumental potential of big data in enhancing SME competitiveness, fostering precision marketing, and streamlining operations. However, the journey is interspersed with challenges, from infrastructural inadequacies to talent deficits. Recommendations advocate for balanced big data investments, collaborative frameworks with data vendors, and an unwavering focus on data privacy and security. In conclusion, as SMEs stand at the crossroads of a digital revolution, embracing big data emerges as the linchpin for sustainable growth and innovation in the digital age.

Keywords: Big Data; Small and Medium Enterprises; Digital Transformation; Competitiveness; Data Privacy; Precision Marketing. (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://itechmag.org/paper/volume5/26-33.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:zib:zitecm:v:5:y:2023:p:26-33

DOI: 10.26480/itechmag.05.2023.26.33

Access Statistics for this article

INWASCON Technology Magazine(i-TECH MAG) is currently edited by Prof. DR. AHMED H. A. DABWAN

More articles in INWASCON Technology Magazine(i-TECH MAG) from Zibeline International Publishing
Bibliographic data for series maintained by Zibeline International Publishing ( this e-mail address is bad, please contact ).