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Data-Mining Opportunities for Small and Medium Enterprises with Official Statistics in the UK Cover

Data-Mining Opportunities for Small and Medium Enterprises with Official Statistics in the UK

Open Access
|Nov 2016

Abstract

There is a growing interest in data amongst small and medium enterprises (SMEs). This article looks at ways in which SMEs can combine their internal company data with open data, such as official statistics, and thereby enhance their business opportunities. Case studies are given as illustrations of the statistical and data-mining methods involved in such integrated data analytics. The article considers the barriers that prevent more SMEs from benefitting in this field and appraises some of the initiatives that are aimed at helping to overcome them. The discussion emphasizes the importance of bringing people together from the business, IT, and statistical worlds and suggests ways for statisticians to make a greater impact.

Language: English
Page range: 849 - 865
Submitted on: Mar 1, 2014
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Accepted on: Mar 1, 2016
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Published on: Nov 23, 2016
Published by: Sciendo
In partnership with: Paradigm Publishing Services
Publication frequency: 4 issues per year

© 2016 Shirley Y. Coleman, published by Sciendo
This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 License.