What is small data (in just 4 minutes)

Published on — Written by Wonderflow

what is small data - wonderflow

Last week our CEO explained the meaning of Big Data, a very trending topic, in this video. Today, we will talk about Small Data. You might not have heard about this concept yet, but it is everywhere in our daily lives. Watch the video to understand what this concept means, its relationship with Big Data, and why it is so important.

If you like the content, don’t forget to subscribe to our channel!

 

First of all, why do we call it “Small” data? We know that “Big” data is something too big to be analyzed by humans. Well, on the contrary, Small data is data that is ‘small’ enough for human comprehension. It is data that comes in a volume and format that makes it accessible, informative and actionable for us.

In fact, the term “big data” is about machines, while “small data” is about people. The only way to comprehend Big data is to reduce the data into small, visually-appealing objects representing various aspects of large data sets. A simple example? Sensors gather weather data all over the country, computers process this big amount of data and transform it into a chart, that is shown by a tv presenter and easily understood by everyone.

We could continue with many other examples, but generally, we can describe data as “small” where the dataset is:

Small Data is: Accessible

Big data is very difficult to manage, and consequently, very few people within an organization are capable to make sense of it. Small Data comes in smaller, lighter, packages that are much easier to use

 Understandable

where even without powerful computers you can derive conclusions. That’s why we use charts…they summarise big data into something smaller and easier to understand

 Actionable

small data is generally about users, customers, and their behaviors. It highlights the reason why behind the trends of big data, and therefore can be very insightful and actionable

In short: small data is big data which has been connected, organized and packaged by complex algorithms in order to appear easy and actionable for humans

This term will be much more popular than big data in the near future. In fact, the technology industry is moving away from big centralized analysis software to smaller, detailed and intelligent, connected datasets. If today the secret for success stays in computational power, tomorrow it will be in the capability to mix and merge datasets together, extracting value.

Did you find this video interesting? Let me know in the comments! Did you like it? Then click the like button, it costs nothing to you but it means a lot to me.

See you next time.

About Wonderflow

Wonderflow empowers businesses with quick and impactful decision-making because it helps automate and deliver in-depth consumer and competitor insights. All within one place, results are simplified for professionals across any high-UGC organization, and department to access, understand, and share easily. Compared to hiring more analysts, Wonderflow’s AI eliminates the need for human-led setup and analysis, resulting in thousands of structured and unstructured reviews analyzed within a matter of weeks and with up to 50% or more accurate data. The system sources relevant private and public consumer feedback from over 200 channels, including emails, forums, call center logs, chat rooms, social media, and e-commerce. What’s most unique is that its AI is the first ever to help recommend personalized business actions and predict the impact of those actions on key outcomes. Wonderflow is leveraged by high-grade customers like Philips, DHL, Beko, Lavazza, Colgate-Palmolive, GSK, Delonghi, and more.

Start making winning decisions based on customer feedback todayGet a free demo

Other articles you might like:

wonderflow image

Product Development · Sep 12, 2022

Proper Review Analysis: How to Analyze Customer Reviews (+ Examples)

It’s pretty difficult to imagine a world without reviews. Not many of us walk into a shop and make a purchase without browsing at least a handful of online reviews beforehand.  In fact, a study from TrustPilot found that almost 9 out of 10 customers consult online reviews before buying.  Though these reviews are incredibly helpful to consumers, for business owners, trying to use reviews to guide the product development process or improve the customer…

positive customer reviews

Marketing · Aug 25, 2022

More Smiles, More Stars: 10 Examples of Leveraging Positive Customer Reviews

Brands know that reviews are everything. Whether they are positive, negative, or neutral, customer feedback is at the core of any business. It’s a matter of how well your company leverages or responds to each type. For instance, positive customer reviews are just as powerful of an influence on business success, if not more, than negative ones. And do you just simply smile when you see a customer’s compliment? Of course not! You may want…

utility cx

Utility & Energy · Aug 09, 2022

More Than Another Bill: Why VoC Programs Improve Utility CX

When did your utility provider last ask you to rate your customer experience (CX) with them? With rising competition, energy costs, customer demands, and regulatory and stakeholder pressure to improve customer services, these key factors drive service providers of water, electricity, and gas to engage deeply with their customers. Old traditional business models must be changed to adapt to the times, and utility brands must prioritize CX more than ever before.  The Utility Customer Experience …