Leveraging Business Data Analytics and Machine Learning Techniques for Competitive Advantage: Case Study Evidence from Small Businesses

Data analytics is the essential component in deriving insights from data obtained from multiple sources. It represents the technology, methods and techniques used to obtain insights from massive datasets. As data grows, organizations are looking for ways to gain relevant business insights from underneath layers of information to facilitate better understanding of new business opportunities, competitive situations, and complex challenges. However, to date, while the extensive benefits of business data analytics to large organizations are widely published, micro, small, and medium sized organisations have not fully grasped the potential benefits to be gained from data analytics using machine learning techniques. This study is guided by the research question of how data analytics using machine learning techniques can benefit small businesses. Using the case study method, this paper outlines how small businesses in two different industries i.e. healthcare and retail can leverage data analytics and machine learning techniques to gain competitive advantage from the data. Details on the respective benefits gained by the small business owners featured in the two case studies provide important answers to the research question.