Business Development Using Big Data within UAE SMEs Retail Sector: Prospects & Questions

Abstract

Despite research on big data analytics being conducted in past, there are no studies focused on the opportunities i.e., growth prospects and its associated challenges in specific industries in UAE. In this study, big data analytics were used in SMEs retail sector in UAE region to assess the use of these technologies. Companies can use these to gain new understandings from their customers and suppliers perspective utilizing big data analytics techniques to take informative decisions on pricing, inventory management, payment solutions and marketing decisions. Big data can be used to help SMEs foresee the needs and preferences of their target audiences. The focus of this study is on SMEs since these are the pillar of every economy and can make quick adjustments to productivity changes. It aims to analyze and identify major chances and threats of Big Data and propose the best ways for SMEs to utilize it for improving their efficiency and business practices.