Small and Medium Enterprises (SMEs) now generate digital data at an unprecedented rate from online transactions, social media marketing and associated customer interactions, online product/service reviews and feedback, clinical diagnosis, Internet of Things (IoT) sensors, and production processes. All these forms of data can be transformed into monetary value if put into a proper data value chain. This requires both skills and IT investments for the longterm benefit of businesses. However, such spending is beyond the capacity of most SMEs due to their limited resources and restricted access to finance. This paper presents lessons learned from a case study of 53 UK SMEs, mostly from the West Midlands region of England, supported as part of a 3-year ERDF11European Regional Development Fund. project - Big Data Corridor22An ERDF funded 3-year project from 2016 to 2019: https://bigdatacorridor.com/. - in the areas of big data management, analytics and related IT issues. Based on our study's sample companies, several perspectives including digital technology trends, challenges facing the UK SMEs, and the state of their adoption in data analytics and big data, are presented.
|Title of host publication||Proceedings - 2020 IEEE International Conference on Engineering, Technology and Innovation, ICE/ITMC 2020|
|Publication status||Published - 16 Sep 2020|
|Event||2020 IEEE International Conference on Engineering, Technology and Innovation, ICE/ITMC 2020 - Virtual, Cardiff, United Kingdom|
Duration: 15 Jun 2020 → 17 Jun 2020
|Name||Proceedings - 2020 IEEE International Conference on Engineering, Technology and Innovation, ICE/ITMC 2020|
|Conference||2020 IEEE International Conference on Engineering, Technology and Innovation, ICE/ITMC 2020|
|Period||15/06/20 → 17/06/20|
Bibliographical noteFunding Information:
This research was supported in part by Enabling Technologies and Innovation Competences Challenge (ETICC) Project (50R19P03100), which is part-funded by the European Regional Development Fund.
1 European Regional Development Fund. 2 An ERDF funded 3-year project from 2016 to 2019: https://bigdatacorridor.com/.
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Copyright 2020 Elsevier B.V., All rights reserved.
- big data
- data analytics
- UK SMEs