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Enabling data-driven decision-making for a Finnish SME: a data lake solution

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Enabling data-driven decision-making for a Finnish SME: a data lake solution

In the era of big data, data-driven decision-making has become a key success factor for companies of all sizes. Technological development has made it possible to store, process and analyse vast amounts of data effectively. The availability of cloud computing services has lowered the costs of data analysis. Even small businesses have access to advanced technical solutions, such as data lakes and machine learning applications. Data-driven decision-making requires integrating relevant data from various sources. Data has to be extracted from distributed internal and external systems and stored into a centralised system that enables processing and analysing it for meaningful insights. Data can be structured, semi-structured or unstructured. Data lakes have emerged as a solution for storing vast amounts of data, including a growing amount of unstructured data, in a cost-effective manner. The rise of the SaaS model has led to companies abandoning on-premise software. This blurs the line between internal and external data as the company’s own data is actually maintained by a third-party. Most enterprise software targeted for small businesses are provided through the SaaS model. Small businesses are facing the challenge of adopting data-driven decision-making, while having limited visibility to their own data. In this thesis, we study how small businesses can take advantage of data-driven decision-making by leveraging cloud computing services. We found that the report- ing features of SaaS based business applications used by our case company, a sales oriented SME, were insufficient for detailed analysis. Data-driven decision-making required aggregating data from multiple systems, causing excessive manual labour. A cloud based data lake solution was found to be a cost-effective solution for creating a centralised repository and automated data integration. It enabled management to visualise customer and sales data and to assess the effectiveness of marketing efforts. Better skills at data analysis among the managers of the case company would have been detrimental to obtaining the full benefits of the solution.

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